CONSENT OF INDEPENDENT AUDITORS



We consent to the reference to our firm under the captions "Management of Each
Fund" and "Financial Statements and Experts" and to the use of our report
dated December 20, 2000 with respect to DLJ Municipal Trust Fund (one of the
funds comprising DLJ Focus Funds), which is incorporated by reference, in this
Registration Statement on Form N-14 of Warburg, Pincus Municipal Bond Fund,
Inc.

                                                  /s/ Ernst & Young LLP

                                                  ERNST & YOUNG LLP

New York, New York
February 12, 2001