Cornerstone Strategic Value Fund, Inc. Announces Date for Rights Offering

Cornerstone Strategic Value Fund, Inc. (

) announced today that it has fixed the close of business on November 1, 2010 as the record date for determination of stockholders entitled to participate in the Fund's 1-for-3 rights offering. Each common stockholder will receive one non-transferable right for each share held as of the record date. For every three rights a common stockholder receives, they will be entitled to purchase one new share of the Fund at a subscription price equal to the greater of 102% of net asset value per share as calculated at the close of trading on the expiration date of the offering or 90% of the market price per share at such time. Fractional shares will not be issued. In addition to the shares offered in the primary subscription, the Fund will offer a 100% over-allotment to oversubscribing stockholders. Stockholders who fully subscribe in the primary offering will have the option to oversubscribe for additional shares which may be available.