The SMALLCap Fund, Inc.(TM) Announces a Distribution and New Directors

Apr 30, 2001, 01:00 ET from The SMALLCap Fund, Inc.(TM)

    NEW YORK, April 30 /PRNewswire/ -- The SMALLCap Fund, Inc.(TM) (the
 'Fund') announced today that it has declared a long-term capital gains
 distribution of $0.057 per share payable in cash on June 21, 2001 to
 stockholders of record on June 14, 2001.  The ex date is June 12, 2001.
     The Fund also reported that Ralph W. Bradshaw was elected a director of
 the Fund at its 2001 annual meeting of stockholders held on April 26, 2001 in
 New York City.  Richard T. Wood was re-elected as a director of the Fund.
     The Fund is a closed-end fund and its shares trade on the New York Stock
 Exchange under the symbol 'MGC.'  Currently, there are 10,788,863 shares
 outstanding.  Registered owners can call the service center at 1-800-432-8224
 for more information on the Fund.  Other investors can call 1-800-730-1313 or
 their financial representative.
 
      Contact:    Romane Somaroo
                  The SMALLCap Fund, Inc.(TM)
                  280 Park Avenue
                  Floor 6W
                  New York, NY 10017
                  Tel: 212-454-1420
 
     Shares of closed-end funds frequently trade at a discount to net asset
 value.  The price of the Fund's shares is determined by a number of factors,
 several of which are beyond the control of the Fund.  Therefore, the Fund
 cannot predict whether its shares will trade at, below or above net asset
 value.
 
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SOURCE The SMALLCap Fund, Inc.(TM)
    NEW YORK, April 30 /PRNewswire/ -- The SMALLCap Fund, Inc.(TM) (the
 'Fund') announced today that it has declared a long-term capital gains
 distribution of $0.057 per share payable in cash on June 21, 2001 to
 stockholders of record on June 14, 2001.  The ex date is June 12, 2001.
     The Fund also reported that Ralph W. Bradshaw was elected a director of
 the Fund at its 2001 annual meeting of stockholders held on April 26, 2001 in
 New York City.  Richard T. Wood was re-elected as a director of the Fund.
     The Fund is a closed-end fund and its shares trade on the New York Stock
 Exchange under the symbol 'MGC.'  Currently, there are 10,788,863 shares
 outstanding.  Registered owners can call the service center at 1-800-432-8224
 for more information on the Fund.  Other investors can call 1-800-730-1313 or
 their financial representative.
 
      Contact:    Romane Somaroo
                  The SMALLCap Fund, Inc.(TM)
                  280 Park Avenue
                  Floor 6W
                  New York, NY 10017
                  Tel: 212-454-1420
 
     Shares of closed-end funds frequently trade at a discount to net asset
 value.  The price of the Fund's shares is determined by a number of factors,
 several of which are beyond the control of the Fund.  Therefore, the Fund
 cannot predict whether its shares will trade at, below or above net asset
 value.
 
                     MAKE YOUR OPINION COUNT -- Click Here
                http://tbutton.prnewswire.com/prn/11690X21358588
 
 SOURCE  The SMALLCap Fund, Inc.(TM)