REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS ON
        INTERNAL CONTROL




Board of Directors

Cornerstone Strategic Value Fund, Inc.

New York, New York



In planning and performing our audit of the financial statements
of Cornerstone Strategic Value Fund, Inc., for the year ended
December 31, 2002, we considered its internal control structure,
including procedures for safeguarding securities, in order to
determine our auditing procedures for the purpose of expressing
our opinion on the financial statements and to comply with the
requirements of Form N-SAR, not to provide assurance on the
internal control.


The management of the Fund is responsible for establishing and
maintaining an internal control.   In fulfilling this
responsibility, estimates and judgments by management are
required to assess the expected benefits and related costs
controls.   Generally, controls that are relevant to an audit
pertain to the entity?s objective of preparing financial
statements for external purposes that are fairly presented
in conformity with accounting principles generally accepted
in the United States of America.    These controls include
the safeguarding of assets against unauthorized acquisition,
use, or disposition.


Because of inherent limitations in any internal control structure,
errors or fraud may occur and not be detected.   Also, projection
of any evaluation of the structure to future periods is subject
to the risk that it may become inadequate because of changes in
conditions or that the effectiveness of the design and operation
may deteriorate.


Our consideration of the internal control components would not
necessarily disclose all matters in internal control that might
be material weaknesses under standards established by the
American Institute of Certified Public Accountants.   A material
weakness is a condition in which the design or operation of the
specific internal control components elements does not reduce
to a relatively low level the risk that errors or fraud in
amounts that would be material in relation to the financial
statements being audited may occur and not be detected within
a timely period by employees in the normal course of
performing their assigned functions.   However, we noted
no matters involving the internal control, including
procedures for safeguarding securities, that we consider
to be material weaknesses, as defined above, as of
December 31, 2002.


This report is intended solely for the information and use of
management and the Securities and Exchange Commission, and is
not intended to be and should not be used by anyone other than
these specified parties.






Philadelphia, Pennsylvania

February 12, 2003