EXHIBIT 99.3

CORNERSTONE FAMILY OF CLOSED-END FUNDS

CORNERSTONE TOTAL RETURN FUND, INC.

CORNERSTONE STRATEGIC VALUE FUND, INC.

CORNERSTONE PROGRESSIVE RETURN FUND

FUND	JOINT FIDELITY BOND RULE 17G-1 GROSS ASSETS (1) 3/31/2009		INDIVIDUAL BOND		ALLOCATED PREMIUM			STAND-ALONE ANNUAL PREMIUM
Cornerstone Total Return Fund, Inc.	$	19,513,537	$	225,000		517		$	2,000
Cornerstone Strategic Value Fund, Inc.		56,177,058		400,000		1,394			2,250
Cornerstone Progressive Return Fund		60,942,727		400,000		1,608			2,500
Total Coverage Required			$	1,025,000
Actual Coverage Obtained			$	1,525,000
Premium					$	3,519	(2)	$	6,750

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(1) In accordance with Rule 17g-1, amount of registered management investment company gross assets should be at the end of the most recent fiscal quarter prior to date of termination (April 23, 2009). Amounts above are for purposes of obtaining premium estimate.

(2) Does not include $90 charge for optional terrorism coverage.