BLU Blue Chip Value Fund, Inc.

The following table sets forth the distributions paid during tax year 2009 from the following sources: net investment income; net realized short term capital gains; net realized long term capital gains; and return of capital.

 

NetInvestmentIncome

 

Short-TermCapital Gain

 

Long-TermCapital Gain

 

Return ofCapital

 

Total

4th Quarter2008

 

$0.008147

 

$0.000000

 

$0.000000

 

$0.061853

 

$0.07

1st Quarter   $0.008147   $0.000000   $0.000000   $0.061853   $0.07 2nd Quarter*   $0.000000   $0.000000   $0.000000   $0.000000   $0.00 3rd Quarter*   $0.000000   $0.000000   $0.000000   $0.000000   $0.00

4th Quarter2009*

  $0.000000   $0.000000   $0.000000   $0.000000   $0.00 Total   $0.016294   $0.000000   $0.000000   $0.123706   $0.14

* Please note that for these quarters the Fund made no distributions.

Of the distributions paid from net investment income, 100% qualify for the corporate dividends received deduction and meet the requirements of the tax rules regarding qualified dividend income. In addition, none of the distributions from net investment income include income derived from U.S. Treasury obligations. There were no assets invested in direct U.S. Government Obligations as of December 31, 2009.

If you have any questions about the application of this information to your tax returns, please consult your tax adviser.

The Fund or your financial intermediary will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

For this and additional information on the Fund please visit www.blu.com.