ARTICLES SUPPLEMENTARY
                                       OF
             CREDIT SUISSE WARBURG PINCUS MUNICIPAL BOND FUND, INC.

         CREDIT SUISSE WARBURG PINCUS MUNICIPAL BOND FUND, INC. (the
"Corporation"), a Maryland corporation with its principal corporate offices in
the State of Maryland in Baltimore, Maryland, DOES HEREBY CERTIFY:

         FIRST: The Board of Directors of the Corporation, an open-end
investment company registered under the Investment Company Act of 1940, as
amended (the "1940 Act"), and having authorized capital of Three Billion
(3,000,000,000) shares of common stock, par value $0.001 per share ("Common
Stock"), has adopted resolutions:

         1.       Authorizing the issuance of an additional One Billion
(1,000,000,000) shares of Common Stock, with an aggregate par value of One
Million Dollars ($1,000,000), thereby increasing the total number of authorized
shares to Four Billion (4,000,000,000) shares with an aggregate par value of
Four Million Dollars ($4,000,000).

         2.       Classifying such additional authorized but unissued shares as
Class A Shares.

         SECOND: Each Class A Share will have the same preferences, conversion
and other rights, voting powers, restrictions, limitations as to dividends,
qualifications and terms and conditions of redemption as every other share of
Common Stock, except that subject to the provisions of any governing order, rule
or regulation issued pursuant to the 1940 Act:

         (i)      Class A Shares will share equally with Common Stock other than
                  Class A Shares ("Non-Class A Shares") in the income, earnings
                  and profits derived from investment and reinvestment of the
                  assets belonging to the Corporation and will be charged
                  equally with Non-Class A Shares with the liabilities and
                  expenses of the Corporation, except that Class A Shares shall
                  have such rights and obligations with respect to sales
                  charges, redemption charges and other fees or charges, and
                  allocations of expenses as are determined by the Board of
                  Directors with respect to Class A Shares or as set forth in
                  the Prospectus or Statement of Additional Information pursuant
                  to which the Class A Shares are sold;

         (ii)     Only Class A Shares will be entitled to vote on any matter
                  submitted to a vote of shareholders of the Corporation that
                  pertains to any matter which relates to Class A Shares, except
                  that if said matter also affects Non-Class A Shares, Non-Class
                  A Shares will also be entitled to vote, and in such case Class
                  A Shares will be voted in the aggregate together with such
                  Non-Class A Shares and



                  not by series except where otherwise required by law. Class A
                  Shares will not be entitled to vote on any matter that does
                  not affect Class A Shares (except where otherwise required by
                  law) even though the matter is submitted to a vote of the
                  holders of Non-Class A Shares;

         (iii)    The Board of Directors of the Corporation in its sole
                  discretion may determine whether a matter affects a particular
                  class or series of Corporation shares; and

         (iv)     At such times (which may vary between and among the holders of
                  Common Stock) as may be determined by the Board of Directors
                  (or, with the authorization of the Board of Directors, by the
                  officers of the Corporation) and reflected in the pertinent
                  registration statement of the Corporation (the "Corporation's
                  Registration Statement"), certain Class A Shares may be
                  converted automatically into Non-Class A Shares based on the
                  relative net asset values of such classes at the time of
                  conversion; subject, however, to any conditions of conversion
                  that may be imposed by the Board of Directors (or, with the
                  authorization of the Board of Directors, by the officers of
                  the Corporation) and reflected in the Corporation's
                  Registration Statement.

         THIRD: The shares aforesaid have been duly classified by the Board of
Directors of the Corporation in accordance with Section 2-105(c) of the Maryland
General Corporation Law and pursuant to the authority and power contained in
ARTICLE V of the Corporation's charter.


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         IN WITNESS WHEREOF, the undersigned have executed these Articles
Supplementary on behalf of Credit Suisse Warburg Pincus Municipal Bond Fund,
Inc., and acknowledge that it is the act and deed of the Corporation and state,
under penalty of perjury, to the best of the knowledge, information and belief
of each of them, that the matters contained herein with respect to the approval
thereof are true in all material respects.

Dated:  October 23, 2001              CREDIT SUISSE WARBURG PINCUS
                                      MUNICIPAL BOND FUND, INC.

                                      By:/s/ Hal Liebes
                                         -------------------------
                                         Name:    Hal Liebes
                                         Title:   Vice President and Secretary
ATTEST:

/s/ Greg Bressler
-----------------

Name: Greg Bressler
Title: Assistant Secretary


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