S&P 500 Geared Fund 8K Regulation FD Disclosure

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report: September 28, 2005

S&P 500^{^®} GEARED^SM Fund Inc.

(Exact name of registrant as specified in its charter)


Maryland	811-21611	33-1103720
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)


4 World Financial Center 5^th, Floor New York, NY				10080
(Address of principal executive offices)				(Zip Code)

Registrant’s telephone number, including area code 877-449-4742

Item 7.01 – Regulation FD Disclosure

On September 9, 2005 the registrant issued a press release and also filed a form 8-K relating to S&P 500^{^®} GEARED^SMFund Inc. (the “Fund”), a closed-end management investment company that trades on the New York Stock Exchange under the symbol “GRE.”

The press release stated that Fund management had discovered that an inadvertent error had generally resulted in an understatement of the Fund’s reported net asset value (“NAV”) since its commencement of business operations, on November 1, 2004, through September 7, 2005. The press release also stated that the error had been eliminated, effective with the publication of the Fund’s reported NAV for September 8, 2005.

The Fund’s historical NAV calculations have been reviewed and the Fund has determined to restate daily NAV for November 1, 2004 through September 6, 2005. The list of original and restated NAVs is included in this report. The Fund intends to issue a press release with this information.


NAV DATE	ORIGINAL NAV	REVISED NAV	NAV DATE	ORIGINAL NAV	REVISED NAV	NAV DATE	ORIGINAL NAV	REVISED NAV	NAV DATE	ORIGINAL NAV	REVISED NAV
11/01/2004	19.06	N/A	01/18/2005	19.91	19.91	04/05/2005	19.79	19.97	06/21/2005	20.28	20.67
11/02/2004	19.06	19.06	01/19/2005	19.77	19.76	04/06/2005	19.85	20.00	06/22/2005	20.25	20.68
11/03/2004	19.26	19.26	01/20/2005	19.70	19.70	04/07/2005	20.00	20.09	06/23/2005	19.93	20.56
11/04/2004	19.49	19.49	01/21/2005	19.60	19.61	04/08/2005	19.78	19.98	06/24/2005	19.73	20.45
11/05/2004	19.57	19.57	01/24/2005	19.51	19.56	04/11/2005	19.77	19.99	06/27/2005	19.71	20.44
11/08/2004	19.55	19.55	01/25/2005	19.60	19.63	04/12/2005	19.90	20.08	06/28/2005	19.95	20.57
11/09/2004	19.52	19.52	01/26/2005	19.71	19.71	04/13/2005	19.60	19.92	06/29/2005	19.92	20.55
11/10/2004	19.51	19.51	01/27/2005	19.70	19.73	04/14/2005	19.34	19.77	06/30/2005	19.71	20.47
11/11/2004	19.67	19.66	01/28/2005	19.62	19.71	04/15/2005	18.96	19.50	07/01/2005	19.78	20.51
11/12/2004	19.79	19.79	01/31/2005	19.80	19.86	04/18/2005	19.08	19.49	07/05/2005	19.99	20.64
11/15/2004	19.79	19.79	02/01/2005	19.95	19.95	04/19/2005	19.21	19.59	07/06/2005	19.81	20.49
11/16/2004	19.70	19.70	02/02/2005	20.02	20.02	04/20/2005	18.91	19.38	07/07/2005	19.78	20.63
11/17/2004	19.77	19.77	02/03/2005	19.96	20.00	04/21/2005	19.31	19.73	07/08/2005	20.15	20.73
11/18/2004	19.80	19.80	02/04/2005	20.17	20.17	04/22/2005	19.17	19.61	07/11/2005	20.32	20.80
11/19/2004	19.64	19.64	02/07/2005	20.15	20.15	04/25/2005	19.36	19.76	07/12/2005	20.38	20.84
11/22/2004	19.69	19.69	02/08/2005	20.17	20.16	04/26/2005	19.15	19.61	07/13/2005	20.41	20.85
11/23/2004	19.69	19.69	02/09/2005	19.99	20.06	04/27/2005	19.24	19.68	07/14/2005	20.49	20.87
11/24/2004	19.74	19.74	02/10/2005	20.10	20.13	04/28/2005	18.99	19.50	07/15/2005	20.52	20.89
11/26/2004	19.76	19.76	02/11/2005	20.22	20.22	04/29/2005	19.24	19.70	07/18/2005	20.36	20.82
11/29/2004	19.72	19.72	02/14/2005	20.25	20.25	05/02/2005	19.36	19.76	07/19/2005	20.56	20.90
11/30/2004	19.66	19.66	02/15/2005	20.29	20.29	05/03/2005	19.34	19.75	07/20/2005	20.70	20.95
12/01/2004	19.88	19.88	02/16/2005	20.30	20.30	05/04/2005	19.62	19.96	07/21/2005	20.48	20.90
12/02/2004	19.86	19.86	02/17/2005	20.15	20.21	05/05/2005	19.56	19.92	07/22/2005	20.64	20.96
12/03/2004	19.87	19.87	02/18/2005	20.17	20.22	05/06/2005	19.52	19.92	07/25/2005	20.52	20.93
12/06/2004	19.87	19.87	02/22/2005	19.77	20.03	05/09/2005	19.67	20.02	07/26/2005	20.58	20.94
12/07/2004	19.72	19.72	02/23/2005	19.94	20.09	05/10/2005	19.36	19.90	07/27/2005	20.71	20.99
12/08/2004	19.80	19.80	02/24/2005	20.16	20.19	05/11/2005	19.46	19.98	07/28/2005	20.91	21.05
12/09/2004	19.88	19.88	02/25/2005	20.31	20.31	05/12/2005	19.23	19.82	07/29/2005	20.65	20.98
12/10/2004	19.86	19.86	02/28/2005	20.20	20.20	05/13/2005	19.14	19.74	08/01/2005	20.71	20.95
12/13/2004	19.99	19.99	03/01/2005	20.30	20.30	05/16/2005	19.33	19.93	08/02/2005	20.93	21.03
12/14/2004	20.03	20.03	03/02/2005	20.31	20.31	05/17/2005	19.56	19.99	08/03/2005	20.95	21.05
12/15/2004	20.06	20.06	03/03/2005	20.29	20.29	05/18/2005	19.79	20.16	08/04/2005	20.71	20.98
12/16/2004	19.97	19.97	03/04/2005	20.39	20.39	05/19/2005	19.90	20.23	08/05/2005	20.46	20.91
12/17/2004	19.88	19.88	03/07/2005	20.41	20.41	05/20/2005	19.84	20.23	08/08/2005	20.38	20.88
12/20/2004	19.89	19.89	03/08/2005	20.35	20.35	05/23/2005	19.92	20.31	08/09/2005	20.57	20.96
12/21/2004	19.91	19.91	03/09/2005	20.24	20.24	05/24/2005	19.91	20.33	08/10/2005	20.52	20.95
12/22/2004	19.97	19.97	03/10/2005	20.26	20.26	05/25/2005	19.80	20.30	08/11/2005	20.74	21.03
12/23/2004	19.97	19.97	03/11/2005	20.17	20.17	05/26/2005	19.97	20.39	08/12/2005	20.57	20.96
12/27/2004	19.92	19.92	03/14/2005	20.24	20.24	05/27/2005	19.97	20.43	08/15/2005	20.64	21.00
12/28/2004	20.01	20.01	03/15/2005	20.08	20.08	05/31/2005	19.83	20.33	08/16/2005	20.27	20.88
12/29/2004	19.99	19.99	03/16/2005	19.94	20.03	06/01/2005	20.01	20.51	08/17/2005	20.29	20.90
12/30/2004	19.99	19.99	03/17/2005	19.99	20.06	06/02/2005	20.10	20.49	08/18/2005	20.26	20.90
12/31/2004	19.98	19.98	03/18/2005	19.99	20.04	06/03/2005	19.95	20.36	08/19/2005	20.26	20.92
01/03/2005	19.88	19.88	03/21/2005	19.85	19.97	06/06/2005	19.94	20.42	08/22/2005	20.29	20.95
01/04/2005	19.73	19.73	03/22/2005	19.59	19.83	06/07/2005	19.93	20.43	08/23/2005	20.19	20.91
01/05/2005	19.67	19.67	03/23/2005	19.61	19.83	06/08/2005	19.90	20.38	08/24/2005	19.98	20.86
01/06/2005	19.73	19.73	03/24/2005	19.58	19.82	06/09/2005	19.99	20.49	08/25/2005	20.04	20.89
01/07/2005	19.71	19.71	03/28/2005	19.63	19.86	06/10/2005	19.93	20.46	08/26/2005	19.87	20.81
01/10/2005	19.79	19.79	03/29/2005	19.46	19.75	06/13/2005	19.99	20.50	08/29/2005	20.03	20.90
01/11/2005	19.71	19.71	03/30/2005	19.79	19.97	06/14/2005	20.06	20.54	08/30/2005	19.92	20.87
01/12/2005	19.78	19.78	03/31/2005	19.77	19.96	06/15/2005	20.11	20.57	08/31/2005	20.20	21.01
01/13/2005	19.68	19.68	04/01/2005	19.61	19.86	06/16/2005	20.21	20.62	09/01/2005	20.23	21.02
01/14/2005	19.80	19.80	04/04/2005	19.68	19.90	06/17/2005	20.35	20.69	09/02/2005	20.15	20.98
						06/20/2005	20.33	20.67	09/06/2005	20.52	21.13

* * * * *

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.

S&P 500^{^®} GEARED^SM Fund Inc.

(Registrant)

DATE: September 28, 2005



By:		/s/ Mitchell M. Cox
Na.me:		Mitchell M. Cox
Title:		President

S&P 500 Geared Fund (GRE) Inactive 8-KRegulation FD Disclosure