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001 A000000 WARBURG PINCUS LONG-SHORT MARKET NEUTRAL FUND
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      PAGE  2
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      PAGE  3
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      PAGE  9
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SIGNATURE   MARY JANE MALONEY                            
TITLE       MANAGER             
 

EX-27

 

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EX-27

 

<ARTICLE> 6
<CIK> 0001067476
<NAME> WARBURG, PINCUS LONG-SHORT MARKET NEUTRAL FUND

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EX-99

                                EXHIBIT INDEX


EXHIBIT A:
  Attachment to item 77C:  Submission of matters to a vote of
  security holders.

EXHIBIT B:
  Attachment to item 77M:  Mergers

EXHIBIT C:
  Attachment to item 77Q1:  Form of Plan of Reorganization

- -------------------------------------------------------------

EXHIBIT A:


Warburg, Pincus Long-Short Market Neutral Fund, Inc.
Registration No. 333-60687

Sub-Item 77C:  Submission of matter to a vote of security 
holders
(a) A special meeting was held on September 28, 1998.
(b) Not applicable
(c) At the special meeting held on September 28, 1998, 
shareholders of the Fund were asked to approve a Plan of 
Reorganization dated as of September 1, 1998 providing (i) 
that 
each of BEA International Equity Fund, BEA Emerging Markets 
Equity Fund, BEA U.S. Core Equity Fund, BEA U.S. Core Fixed 
Income Fund, BEA Strategic Global Fixed Income Fund, BEA 
High 
Yield Fund, BEA Municipal Bond Fund, BEA Global 
Telecommunications Fund, BEA Long-Short Market Neutral Fund, 
BEA 
Long-Short Equity Fund and BEA Select Economic Value Equity 
Fund 
(each, a "BEA Fund" and collectively, the "BEA Funds") would 
be 
reorganized from a series of the RBB Fund  into Warburg, 
Pincus 
International Growth Fund, Inc., Warburg, Pincus Emerging 
Markets 
II Fund, Inc., Warburg, Pincus U.S. Core Equity Fund, Inc., 
Warburg, Pincus U.S. Core Fixed Income Fund, Inc., Warburg, 
Pincus Strategic Global Fixed Income Fund, Inc., Warburg, 
Pincus 
High Yield Fund, Inc., Warburg, Pincus Municipal Bond Fund, 
Inc., 
Warburg, Pincus Global Telecommunications Fund, Inc., 
Warburg, 
Pincus Long-Short Market Neutral Fund, Inc., Warburg, Pincus 
Long-Short Equity Fund, Inc. and Warburg, Pincus Select 
Economic 
Value Equity Fund, Inc., respectively, (each, a "Warburg 
Fund" 
and collectively, the "Warburg Funds"), (ii) that each BEA 
Fund 
would transfer to the corresponding Warburg Fund all or 
substantially all of its assets in exchange for shares of 
the 
Warburg Fund and the assumption of liabilities, (iii) that 
such 
shares of the Warburg Funds would be distributed to 
shareholders 
of the BEA Funds in liquidation of the BEA Funds, and (iv) 
that 
the BEA Funds would subsequently be terminated.
The Plan of Reorganization was approved by shareholders and 
the shareholder vote was as follows:

           Total Number of Votes    Percentage of total
                                     number of shares 
                                       outstanding

Approve       412,089.292                  99.99%
Disapprove         0                         0%
Abstain            0                         0%

(d) Not applicable



EXHIBIT B:

Sub-Item 77M:  Mergers
(a) As described in Sub-Item 77C above, substantially all of 
the assets of each BEA Fund were acquired by a newly-formed 
Warburg Fund pursuant to a Plan of Reorganization.  While 
not 
structured as a merger or a consolidation for state law 
purposes, 
the practical effect of the transaction is that the relevant 
BEA 
Fund's business was continued through the corresponding 
Warburg 
Fund.  The name of the other registered company involved in 
the 
transaction with the Fund was The RBB Fund, Inc.
(b) The Plan of Reorganization was unanimously approved by 
the Board of Directors of The RBB Fund, Inc. on July 20, 
1998 and 
garnered the requisite shareholder vote for its approval on 
September 28, 1998 from the corresponding BEA Fund's 
shareholders.  The Closing Date was October 23, 1998.  
The transaction was designed such that the Fund would be a 
continuation of its corresponding BEA Fund, and therefore, 
did 
not result in any change in the investment philosophy of the 
corresponding BEA Fund.  The investment objectives and 
policies 
of the Fund are in all material respects the same as those 
of the 
corresponding BEA Fund.  The investment adviser, custodian, 
transfer agent and accountant for the Fund are the same as 
those 
of the corresponding BEA Fund.  The distributor of shares of 
the 
Fund is Counsellors Securities Inc., which until May 29, 
1998 had 
been the distributor for the corresponding BEA Fund.
All expenses of the transaction were borne by Credit Suisse 
Asset Management (then named "BEA Associates").  No sales 
charge 
was imposed on the shares of the Fund received by the 
shareholders of the corresponding BEA Fund.  The transaction 
was 
structured to be tax-free for federal income tax purposes to 
shareholders and to both the Fund and the corresponding BEA 
Fund.
Although the corresponding BEA Fund, a series portfolio of 
The RBB Fund, Inc. has ceased operations, The RBB Fund, Inc. 
has 
not ceased to be an investment company as defined in the 
Investment Company Act of 1940, as amended.



EXHIBIT C:

Sub-Item 77Q1:  Exhibits
(a) Not applicable
(b) Not applicable
(c) Not applicable
(d) Not applicable
(e) Not applicable
(f) Not applicable
(g) Form of Plan of Reorganization