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OMB APPROVAL
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------ OMB Number: 3235-0287
FORM 4 Expires: January 31, 2005
------ Estimated average burden
hours per response ....... 0.5
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(h) of the Investment Company Act of 1940
[ ] Check this box if no longer subject of Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person*
Greenebaum Robert J.
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(Last) (First) (Middle)
828 Kimballwood Lane
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(Street)
Highland Park IL 60035
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(City) (State) (Zip)
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2. Issuer Name AND Ticker or Trading Symbol
Blue Chip Value Fund, Inc. BLU
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3. I.R.S. Identification Number of Reporting Person, if an entity (Voluntary)
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4. Statement for Month/Day/Year
2/24/03
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5. If Amendment, Date of Original (Month/Day/Year)
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6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[X] Director [ ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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7. Individual or Joint/Group Filing (Check applicable line)
[X Form filed by One Reporting Person
[ ] Form filed by More Than one Reporting Person
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Page 1 of 3
Form 4 (continued)
Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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| | | | | 5. | |
| | | | | Amount | |
| | | | | of | |
| | | | | Secur- | |
| | | | 4. | ities | | 7.
| | | | Securities | Bene- | 6. | Nature
| | | | Acquired (A) | ficially | Owner- | of
| | | | or Disposed | Owned | ship | Indirect
| | 2A. | 3. | of (D) (Instr. | Following| Form: | Bene-
| | Deemed | Transaction | 3, 4 and 5) | Reported | Direct | ficial
| 2. | Execution | Code | ---------------- | Trans- | (D) or | Owner-
1. | Transaction | Date, if | (Instr. 8) | |(A)| | action(s)| Indirect | ship
Title of Security | Date (Month/| any (Month/| ----------- | Amount|or |Price | (Instr. | (I) | (Instr.
(Instr. 3) | Day/Year) | Day/Year) | Code | V | |(D)| | 3 and 4) | (Instr.4)| 4)
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Common Stock 2/24/03 S .3370 D 4.38 21481 D
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Page 2 of 3
Form 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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| | | | |5. | | | |9. |10. |
| | | | |Number | | | |Number |Owner-|
| | | | |of | |7. | |of |ship |
|2. | | | |Deriv- | |Title and | |Deriv- |of |
|Conver-| | | |ative | |Amount of | |ative |Deriv-|11.
|sion | | | |Secur- | |Underlying | |Secur- |ative |Nature
|of | |3A. | |ities |6. |Securities |8. |ities |Secur-|of
|Exer- | |Deemed |4. |Acquired |Date |(Instr. 3 |Price |Bene- |ity: |In-
|cise |3. |Execu- |Trans- |(A) or |Exercisable and |and 4) |of |ficially|Direct|direct
|Price |Trans- |tion |action |Disposed |Expiration Date |-------------|Deriv- |Owned |(D) or|Bene-
1. |of |action |Date, |Code |of(D) |(Month/Day/Year) | |Amount|ative |at End |In- |ficial
Title of |Deriv- |Date |if any |(Instr.|(Instr.3,|-----------------| |or |Secur- |of |direct|Owner-
Derivative |ative |(Month/ |(Month/ |8) |4 and 5) |Date | Expira-| |Number|ity |Month |(I) |ship
Security |Secur- |Day/ |Day/ |------ |-------- |Exer- | tion | |of |(Instr.|(Instr. |(Instr|(Instr.
(Instr. 3) |ity |Year) |Year) |Code|V |(A) | (D)|cisable | Date |Title |Shares|5) |4) |4) |4)
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Explanation of Responses:
Margaret R. Jurado POA
Robert J. Greenebaum 2/26/03
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**Signature of Reporting Person Date
* If the form is filed by more than one reporting person, see
Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedures.
Page 3 of 3
POWER OF ATTORNEY
Know all by these presents, that the undersigned hereby constitutes and
appoints Jasper R. Frontz and Margaret R. Jurado or either of them, with power
of substitution and resubstitution, the undersigned's true and lawful
attorney-in-fact to:
(1) execute for and on behalf of the undersigned, in the undersigned's capacity
as an officer, director and/or greater than ten percent shareholder of The
Blue Chip Value Fund, Inc. (the "Company"), Forms 3, 4, and 5, including
any amendments thereto, in accordance with Section 16(a) of the Securities
Exchange Act of 1934 and the rules thereunder;
(2) do and perform any and all acts for and on behalf of the undersigned which
may be necessary or desirable to complete and execute any such Form 3, 4,
or 5, including any amendments thereto, and timely file such form with the
United States Securities and Exchange Commission and, if required, any
stock exchange or similar authority; and
(3) take any other action of any type whatsoever in connection with the
foregoing which, in the opinion of such attorney-in-fact, may be of benefit
to, in the best interest of, or legally required by, the undersigned, it
being understood that the documents executed by such attorney-in-fact on
behalf of the undersigned pursuant to this Power of Attorney shall be in
such form and shall contain such terms and conditions as such
attorney-in-fact may approve in such attorney-in-fact's discretion.
The undersigned hereby grants to each such attorney-in-fact full power and
authority to do and perform any and every act and thing whatsoever requisite,
necessary, or proper to be done in the exercise of any of the rights and powers
herein granted, as fully to all intents and purposes as the undersigned might or
could do if personally present, with full power of substitution or revocation,
hereby ratifying and confirming all that such attorney-in-fact, or such
attorney-in-fact's substitute or substitutes, shall lawfully do or cause to be
done by virtue of this Power of Attorney and the rights and powers herein
granted. The undersigned acknowledges that each of the foregoing
attorney-in-fact, in serving in such capacity at the request of the undersigned,
is not assuming, nor is the Company assuming, any of the undersigned's
responsibilities to comply with Section 16 of the Securities Exchange Act of
1934.
This Power of Attorney shall remain in full force and effect until the
undersigned is no longer required to file Forms 3, 4, and 5 with respect to the
undersigned's holdings of and transactions in securities issued by the Company,
unless earlier revoked by the undersigned in a signed writing delivered to
either of the foregoing attorney-in-fact.
IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be
executed as of this 29th day of November 2002.
/s/ Robert J. Greenebaum
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Signature
Robert J. Greenebaum
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