UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES

Investment Company Act file number 811-05518
---------

The RBB Fund, Inc.
----------------------------------------------------------------
(Exact name of registrant as specified in charter)

103 Bellevue Parkway, 4th Floor
Wilmington, DE 19809
----------------------------------------------------------------
(Address of principal executive offices) (Zip code)

Edward J. Roach, President & Treasurer
103 Bellevue Parkway, 4th Floor
Wilmington, DE 19809
----------------------------------------------------------------
(Name and address of agent for service)

Registrant's telephone number, including area code: 302-791-1112
------------

Date of fiscal year end: August 31
---------

Date of reporting period: February 28, 2009
-----------------

Form N-CSR is to be used by management investment companies to file reports with
the Commission not later than 10 days after the transmission to stockholders of
any report that is required to be transmitted to stockholders under Rule 30e-1
under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may
use the information provided on Form N-CSR in its regulatory, disclosure review,
inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-CSR,
and the Commission will make this information public. A registrant is not
required to respond to the collection of information contained in Form N-CSR
unless the Form displays a currently valid Office of Management and Budget
("OMB") control number. Please direct comments concerning the accuracy of the
information collection burden estimate and any suggestions for reducing the
burden to Secretary, Securities and Exchange Commission, 100 F Street, NE,
Washington, DC 20549. The OMB has reviewed this collection of information under
the clearance requirements of 44 U.S.C. ss. 3507.

ITEM 1. REPORTS TO STOCKHOLDERS.

The Report to Shareholders is attached herewith.

================================================================================

THE BEDFORD
CLASS

OF
THE RBB FUND, INC.
MONEY MARKET
PORTFOLIO

SEMI-ANNUAL REPORT
FEBRUARY 28, 2009
(UNAUDITED)

AN INVESTMENT IN THE PORTFOLIO IS NOT INSURED OR GUARANTEED BY THE FEDERAL
DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENT AGENCY. ALTHOUGH THE
PORTFOLIO SEEKS TO PRESERVE THE VALUE OF YOUR INVESTMENT AT $1.00 PER SHARE,
IT'S POSSIBLE TO LOSE MONEY BY INVESTING IN THE PORTFOLIO.

THIS REPORT IS SUBMITTED FOR THE GENERAL INFORMATION OF THE SHAREHOLDERS OF THE
PORTFOLIO. IT IS NOT AUTHORIZED FOR DISTRIBUTION UNLESS PRECEDED OR ACCOMPANIED
BY A PROSPECTUS FOR THE PORTFOLIO.

================================================================================

THE RBB FUND, INC.
MONEY MARKET PORTFOLIO
FUND EXPENSE EXAMPLES
(UNAUDITED)

As a shareholder of the Portfolio, you incur two types of costs: (1) transaction
costs and (2) ongoing costs, including management fees, distribution fees, and
other Portfolio expenses. These examples are intended to help you understand
your ongoing costs (in dollars) of investing in the Portfolio and to compare
these costs with the ongoing costs of investing in other mutual funds.

These examples are based on an investment of $1,000 invested at the beginning of
the six-month period from September 1, 2008 through February 28, 2009 and held
for the entire period.

ACTUAL EXPENSES

The first line of the accompanying tables provides information about actual
account values and actual expenses. You may use the information in this line,
together with the amount you invested, to estimate the expenses that you paid
over the period. Simply divide your account value by $1,000 (for example, an
$8,600 account value divided by $1,000 = 8.6), then multiply the result by the
number in the first line under the heading entitled "Expenses Paid During
Period" to estimate the expenses you paid on your account during this period.

HYPOTHETICAL EXAMPLE FOR COMPARISON PURPOSES

The second line of the accompanying tables provides information about
hypothetical account values and hypothetical expenses based on the Portfolio's
actual expense ratio and an assumed rate of return of 5% per year before
expenses, which is not the Portfolio's actual return. The hypothetical account
values and expenses may not be used to estimate the actual ending account
balance or expenses you paid for the period. You may use this information to
compare the ongoing costs of investing in the Portfolio and other funds. To do
so, compare these 5% hypothetical examples with the 5% hypothetical examples
that appear in the shareholder reports of other funds.

Please note that the expenses shown in the accompanying tables are meant to
highlight your ongoing costs only and do not reflect any transactional costs,
such as redemption fees that may be incurred by shareholders of other funds.
Therefore, the second line of the accompanying tables is useful in comparing
ongoing costs only, and will not help you determine the relative total costs of
owning different funds.

MONEY MARKET PORTFOLIO - BEDFORD CLASS
---------------------------------------------------------------
BEGINNING ENDING EXPENSES PAID
ACCOUNT VALUE ACCOUNT VALUE DURING
SEPTEMBER 1, 2008 FEBRUARY 28, 2009 PERIOD*
-------------------- -------------------- ----------------

Actual $1,000.00 $1,006.40 $4.48
Hypothetical (5% return before expenses) 1,000.00 1,024.79 4.52

MONEY MARKET PORTFOLIO - SANSOM STREET CLASS
---------------------------------------------------------------
BEGINNING ENDING EXPENSES PAID
ACCOUNT VALUE ACCOUNT VALUE DURING
SEPTEMBER 1, 2008 FEBRUARY 28, 2009 PERIOD*
-------------------- -------------------- ----------------

Actual $1,000.00 $1,009.60 $1.25
Hypothetical (5% return before expenses) 1,000.00 1,024.79 1.26

* Expenses are equal to the Portfolio's annualized six month expense ratio of
0.90% for the Bedford Class shares and 0.25% for the Sansom Street Class
shares, which includes waived fees or reimbursed expenses, multiplied by
the average account value over the period, multiplied by the number of days
(181) in the most recent fiscal half-year, then divided by 365 to reflect
the one-half year period. The Portfolio's ending account value on the first
line in each table is based on the actual six-month total return of 0.64%
for the Bedford Class shares and 0.96% for the Sansom Street Class shares.

THE RBB FUND, INC.
MONEY MARKET PORTFOLIO
PORTFOLIO HOLDINGS SUMMARY TABLE
FEBRUARY 28, 2009
(UNAUDITED)

SECURITY % OF NET FAIR
TYPE ASSETS VALUE
-------- -------- ------------
Short Term Investments:
Commercial Paper .......................... 44.3% $178,643,035
Certificates of Deposit ................... 29.8 120,251,155
Agency Obligations ........................ 13.1 52,670,339
U.S. Treasury Obligations ................. 5.6 22,515,521
Variable Rate Obligations ................. 4.0 15,880,000
Repurchase Agreements ..................... 3.2 12,883,000
Other Assets in Excess of Liabilities ..... -- 142,258
----- ------------
NET ASSETS ................................... 100.0% $402,985,308
===== ============

Portfolio holdings are subject to change at any time.

THE RBB FUND, INC.
MONEY MARKET PORTFOLIO
SCHEDULE OF INVESTMENTS
FEBRUARY 28, 2009
(UNAUDITED)

PAR FAIR
(000) VALUE
-------- -------------
CERTIFICATES OF DEPOSIT--29.8%
DOMESTIC CERTIFICATES OF DEPOSIT--5.9%
Bank of America N.A.
2.450%, 05/19/09 ........................ $ 1,000 $ 1,000,000
Chase Bank USA, N.A.
0.520%, 07/15/09 ........................ 5,000 5,000,000
Citibank N.A.
1.500%, 03/17/09 ........................ 2,000 2,000,000
1.330%, 03/31/09 ........................ 850 850,000
State Street Bank & Trust Co.
0.850%, 04/27/09 ........................ 10,000 10,000,000
U.S. Bank National Association
0.500%, 04/23/09 ........................ 5,000 5,000,000
------------
23,850,000
------------
YANKEE DOLLAR CERTIFICATES OF DEPOSIT--23.9%
Banco Bilbao Vizcaya Argentaria S.A.,
New York
1.930%, 03/12/09 ........................ 2,000 2,000,006
2.710%, 04/14/09 ........................ 3,000 3,000,036
0.810%, 04/29/09 ........................ 3,000 3,000,049
2.770%, 05/12/09 ........................ 3,500 3,500,069
1.150%, 08/03/09 ........................ 5,000 5,000,214
Barclays Bank PLC, New York
0.950%, 04/14/09 ........................ 10,000 10,000,000
BNP Paribas SA, New York
2.080%, 03/05/09 ........................ 6,000 6,000,000
1.010%, 05/19/09 ........................ 3,000 3,000,000
2.290%, 06/08/09 ........................ 3,600 3,600,000
1.170%, 07/08/09 ........................ 2,000 2,000,000
Intesa San Paolo SpA, New York
1.850%, 03/10/09 ........................ 1,250 1,250,000
1.450%, 03/11/09 ........................ 2,700 2,700,000
Lloyds TSB Bank PLC, New York
2.080%, 03/05/09 ........................ 2,500 2,500,000
Rabobank Nederland NV, New York
3.020%, 03/09/09 ........................ 3,500 3,500,781
0.700%, 07/13/09 ........................ 5,000 5,000,000
0.850%, 08/03/09 ........................ 5,000 5,000,000
Royal Bank of Scotland, New York
3.140%, 03/09/09 ........................ 3,000 3,000,000
Sanpaolo Imi SpA, New York
3.240%, 03/03/09 ........................ 3,000 3,000,000
2.850%, 05/12/09 ........................ 3,000 3,000,000

PAR FAIR
(000) VALUE
-------- -------------
CERTIFICATES OF DEPOSIT--(CONTINUED)
YANKEE DOLLAR CERTIFICATES OF DEPOSIT--(CONTINUED)
Societe Generale, New York
1.960%, 03/05/09 ........................ $ 2,000 $ 2,000,000
1.500%, 03/11/09 ........................ 750 750,000
1.050%, 07/13/09 ........................ 2,500 2,500,000
0.820%, 07/14/09 ........................ 5,000 5,000,000
Svenska Handelsbanken, New York
1.950%, 03/11/09 ........................ 3,000 3,000,000
0.790%, 05/04/09 ........................ 3,000 3,000,000
Toronto Dominion Bank, New York
2.500%, 06/09/09 ........................ 1,350 1,350,000
2.420%, 06/11/09 ........................ 2,250 2,250,000
UBS AG, Stamford
1.400%, 03/31/09 ........................ 1,500 1,500,000
1.300%, 04/30/09 ........................ 5,000 5,000,000
------------
96,401,155
------------
TOTAL CERTIFICATES OF DEPOSIT
(Cost $120,251,155) ................... 120,251,155
------------
COMMERCIAL PAPER--44.3%
ASSET BACKED--17.7%
Barton Capital Corp.
0.701%, 05/04/09 ........................ 5,000 4,993,778
CAFCO LLC
0.872%, 03/09/09 ........................ 3,000 2,999,419
0.400%, 04/02/09 ........................ 8,000 7,997,156
0.400%, 04/14/09 ........................ 2,000 1,999,022
0.802%, 04/23/09 ........................ 3,000 2,996,467
Cancara Asset Securitization LLC
0.701%, 03/09/09 ........................ 3,000 2,999,533
0.651%, 03/10/09 ........................ 3,000 2,999,512
Ciesco LLC
0.982%, 05/14/09 ........................ 3,000 2,993,957
CRC Funding LLC
0.832%, 05/04/09 ........................ 7,500 7,488,933
Kitty Hawk Funding Corp.
0.450%, 03/17/09 ........................ 7,000 6,998,600
Old Line Funding LLC
0.451%, 03/16/09 ........................ 3,000 2,999,437
Park Avenue Receivables Co. LLC
0.450%, 03/09/09 ........................ 3,700 3,699,630

See Accompanying Notes to Financial Statements.

THE RBB FUND, INC.
MONEY MARKET PORTFOLIO
SCHEDULE OF INVESTMENTS (CONTINUED)
FEBRUARY 28, 2009
(UNAUDITED)

PAR FAIR
(000) VALUE
-------- -------------
COMMERCIAL PAPER--(CONTINUED)
ASSET BACKED--(CONTINUED)
Ranger Funding Co. LLC
0.671%, 05/01/09 ........................ $ 8,000 $ 7,990,918
Thunder Bay Funding LLC
0.470%, 03/03/09 ........................ 12,000 11,999,687
------------
71,156,049
------------
BANKS--17.7%
Bank of America Corp.
3.005%, 03/12/09 ........................ 4,000 3,996,382
Bank of Nova Scotia
0.741%, 05/01/09 ........................ 10,000 9,987,461
BNP Paribas Finance, Inc.
0.851%, 04/13/09 ........................ 4,100 4,095,837
Danske Corp.
0.591%, 04/20/09 ........................ 5,000 4,995,903
0.741%, 05/05/09 ........................ 5,000 4,993,319
DnB NOR BANK ASA
0.922%, 05/18/09 ........................ 3,000 2,994,020
1.003%, 05/22/09 ........................ 5,000 4,988,611
1.248%, 07/21/09 ........................ 2,000 1,990,218
Nordea North America, Inc.
1.963%, 03/05/09 ........................ 7,500 7,498,375
1.255%, 04/15/09 ........................ 2,570 2,565,984
Rabobank USA Financial Corp.
0.691%, 05/05/09 ........................ 6,000 5,992,525
San Paolo IMI US Financial Co.
1.106%, 07/15/09 ........................ 8,000 7,966,756
Santander Central Hispano Finance
(Delaware), Inc.
1.664%, 08/03/09 ........................ 3,000 2,978,688
Societe Generale North America, Inc.
1.400%, 07/07/09 ........................ 6,500 6,467,876
------------
71,511,955
------------
CHEMICALS--2.0%
BASF AG
0.420%, 04/15/09 ........................ 8,000 7,995,800
------------

PAR FAIR
(000) VALUE
-------- -------------
COMMERCIAL PAPER--(CONTINUED)
FINANCIAL SERVICES--6.9%
ING US Funding LLC
1.324%, 04/02/09 ........................ $ 9,000 $ 8,989,440
0.741%, 04/07/09 ........................ 5,000 4,996,197
Prudential Funding LLC
0.601%, 03/06/09 ........................ 10,000 9,999,167
UBS Finance (Delaware) LLC
1.143%, 04/14/09 ........................ 4,000 3,994,427
------------
27,979,231
------------
TOTAL COMMERCIAL PAPER
(Cost $178,643,035) ................... 178,643,035
------------
VARIABLE RATE OBLIGATIONS--4.0%
BANKS--4.0%
Bank of America Securities LLC(b)(d)
0.540%, 03/02/09 ........................ 4,000 4,000,000
Bank of Montreal, Chicago(a)(b)(c)
0.945%, 10/05/09 ........................ 2,850 2,850,000
HSBC USA, Inc.(b)
1.560%, 10/15/09 ........................ 525 525,000
ING Bank NV(b)(c)
1.571%, 08/24/09 ........................ 1,750 1,750,000
ING USA Global Funding Trust VI(b)
2.029%, 09/18/09 ........................ 855 855,000
Lloyds Banking Group PLC(a)(b)(c)
1.541%, 08/07/09 ........................ 2,250 2,250,000
Nordea Bank AB(b)(c)
1.509%, 10/23/09 ........................ 2,050 2,050,000
Wachovia Bank N.A.(b)
1.845%, 08/04/09 ........................ 1,600 1,600,000
------------
TOTAL VARIABLE RATE OBLIGATIONS
(Cost $15,880,000) .................... 15,880,000
------------

See Accompanying Notes to Financial Statements.

THE RBB FUND, INC.
MONEY MARKET PORTFOLIO
SCHEDULE OF INVESTMENTS (CONTINUED)
FEBRUARY 28, 2009
(UNAUDITED)

PAR FAIR
(000) VALUE
-------- -------------
AGENCY OBLIGATIONS--13.1%
Federal Home Loan Bank
1.345%, 03/20/09(b) ..................... $ 1,605 $ 1,605,074
0.378%, 08/13/09(b) ..................... 1,600 1,600,000
0.360%, 08/14/09(b) ..................... 2,495 2,494,887
0.592%, 08/21/09 ........................ 3,500 3,490,076
0.592%, 08/25/09 ........................ 1,500 1,495,649
0.602%, 08/28/09 ........................ 1,000 997,000
0.780%, 02/05/10(b) ..................... 2,385 2,385,000
0.865%, 02/06/10(b) ..................... 2,385 2,385,000
1.248%, 07/09/10(b) ..................... 4,265 4,263,841
Federal Home Loan Mortgage Corp.
0.339%, 09/28/09(b) ..................... 2,950 2,949,579
1.060%, 07/14/10(b) ..................... 2,500 2,498,807
1.229%, 08/24/10(b) ..................... 1,895 1,895,121
1.244%, 09/03/10(b) ..................... 2,865 2,864,136
Federal National Mortgage Assoc.
2.021%, 05/14/09 ........................ 1,500 1,493,833
1.227%, 05/15/09 ........................ 2,000 1,994,917
0.562%, 08/05/09 ........................ 10,000 9,975,578
0.592%, 08/12/09 ........................ 3,000 2,991,937
0.602%, 08/26/09 ........................ 3,000 2,991,100
1.184%, 08/05/10(b) ..................... 2,300 2,298,804
------------
TOTAL AGENCY OBLIGATIONS
(Cost $52,670,339) ..................... 52,670,339
------------
U.S. TREASURY OBLIGATIONS--5.6%
U.S. Treasury Bills
0.325%, 05/21/09 ........................ 2,400 2,398,245
0.300%, 05/28/09 ........................ 2,400 2,398,240
0.335%, 06/04/09 ........................ 2,200 2,198,055
0.397%, 07/02/09 ........................ 5,000 4,993,235
0.391%, 08/06/09 ........................ 2,600 2,595,550
0.446%, 08/13/09 ........................ 2,500 2,494,901
0.471%, 08/20/09 ........................ 3,000 2,993,270
0.492%, 08/27/09 ........................ 2,450 2,444,025
------------
TOTAL U.S. TREASURY OBLIGATIONS
(Cost $22,515,521) ..................... 22,515,521
------------

PAR FAIR
(000) VALUE
-------- -------------
REPURCHASE AGREEMENTS--3.2%
Deutsche Bank Securities, Inc.
(Tri-Party Agreement dated
2/27/09 to be repurchased
at $12,883,290, collateralized
by $2,320,000 par value, Federal
Home Loan Bank, 2.80%, due
09/24/09; $10,922,000 par value,
Federal Mortgage Assoc.,
0.00%, due 03/23/09 Market Value
of the collateral is $13,272,135)
0.270%, 03/02/09 ........................ $ 12,883 $ 12,883,000
------------
TOTAL REPURCHASE AGREEMENTS
(Cost $12,883,000) ..................... 12,883,000
------------
TOTAL INVESTMENTS AT VALUE--100.0%
(Cost $402,843,050)* .................... 402,843,050
------------
OTHER ASSETS IN EXCESS OF
LIABILITIES--0.0% ....................... 142,258
------------
NET ASSETS (APPLICABLE TO
359,700,340 BEDFORD SHARES
AND 43,242,284 SANSOM STREET
SHARES)--100.0% ......................... $402,985,308
============

* Aggregate cost is the same for financial reporting and Federal tax
purposes.

(a) Security is a foreign domiciled issuer which is registered with the
Securities and Exchange Commission.

(b) Variable Rate Obligations -- The interest rate shown is the rate as of
February 28, 2009.

(c) Security is exempt from registration under Rule 144A of the Securities Act
of 1933. These securities may be resold in transactions exempt from
registration, normally to qualified institutional investors.

(d) Rate shown is as of report date and the date shown is date on which
principal and accrued interest may be recovered through demand.

See Accompanying Notes to Financial Statements.

THE RBB FUND, INC.
MONEY MARKET PORTFOLIO
SCHEDULE OF INVESTMENTS (CONCLUDED)
FEBRUARY 28, 2009
(UNAUDITED)

SFAS 157 DISCLOSURE
- --------------------------------------------------------------------------------

The following is a summary of the inputs used, as of February 28, 2009, in
valuing the Portfolio's assets carried at fair value:

INVESTMENTS
IN
VALUATION INPUTS SECURITIES
-------------------------------- -------------

Level 1 - Quoted Prices ................................ $ --
Level 2 - Other Significant Observable Inputs .......... 402,843,050
Level 3 - Significant Unobservable Inputs .............. --
-------------
Total .................................................. $ 402,843,050
=============

See Accompanying Notes to Financial Statements.

THE RBB FUND, INC.
MONEY MARKET PORTFOLIO
STATEMENT OF ASSETS AND LIABILITIES
FEBRUARY 28, 2009
(UNAUDITED)

ASSETS
Investments, at fair value (Cost $389,960,050) .......................... $ 389,960,050
Repurchase agreement, at fair value (Cost $12,883,000) .................. 12,883,000
Cash .................................................................... 470
Receivables
Investments sold ..................................................... 2,876,542
Interest receivable .................................................. 409,019
Prepaid expenses and other assets ....................................... 90,972
-------------
Total assets ...................................................... 406,220,053
-------------
LIABILITIES
Payables
Investments purchased ................................................ 2,864,137
Distribution to shareholders ......................................... 119,852
Distribution fees .................................................... 182,874
Investment advisory and administration fees .......................... 19,380
Transfer agent fees .................................................. 13,029
Custodian fees ....................................................... 9,993
Directors' and officers' fees ........................................ 2,315
Regulatory administration fees ....................................... 1,499
Service organization fees (Sansom Class) ............................. 70
Other accrued expenses and liabilities ............................... 21,596
-------------
Total liabilities ................................................. 3,234,745
-------------
Net Assets .............................................................. $ 402,985,308
=============
NET ASSETS CONSIST OF
Paid-in capital ......................................................... 402,942,623
Undistributed net investment income ..................................... 831
Accumulated net realized gain from investments .......................... 41,854
-------------
Net Assets .............................................................. $ 402,985,308
=============
BEDFORD CLASS
Net assets .............................................................. $ 359,742,475
-------------
Shares outstanding ($0.001 par value, 1,500,000,000 shares authorized) .. 359,700,340
-------------
Net asset value, offering and redemption price per share ................ $ 1.00
=============
SANSOM CLASS
Net assets .............................................................. $ 43,242,833
-------------
Shares outstanding ($0.001 par value, 1,500,000,000 shares authorized) .. 43,242,284
-------------
Net asset value, offering and redemption price per share ................ $ 1.00
=============

See Accompanying Notes to Financial Statements.

THE RBB FUND, INC.
MONEY MARKET PORTFOLIO
STATEMENT OF OPERATIONS
FOR THE SIX MONTHS ENDED FEBRUARY 28, 2009
(UNAUDITED)

INVESTMENT INCOME
Interest ........................................................... $4,117,090
----------
Total investment income ....................................... 4,117,090
----------
EXPENSES
Distribution fees(1) ............................................... 1,245,277
Investment advisory and administration fees ........................ 825,801
Temporary Guarantee Program
Participation fees ............................................... 65,093
Directors' and officers' fees ...................................... 63,269
Professional fees .................................................. 49,586
Custodian fees ..................................................... 40,305
Transfer agent fees ................................................ 34,259
Regulatory administration fees ..................................... 19,718
Printing and shareholder reporting fees ............................ 18,083
Insurance fees ..................................................... 17,711
Registration and filing fees ....................................... 12,397
Service organization fees (Sansom Class) ........................... 694
Other expenses ..................................................... 5,329
----------
Total expenses before waivers ................................. 2,397,522
Less: waivers ................................................. (762,571)
----------
Net expenses after waivers ......................................... 1,634,951
----------
Net investment income 2,482,139
----------
Net realized gain from investments ................................. 28,705
----------
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS .................. $2,510,844
==========

(1) See Note 2 in Notes to Financial Statements.

See Accompanying Notes to Financial Statements.

THE RBB FUND, INC.
MONEY MARKET PORTFOLIO
STATEMENTS OF CHANGES IN NET ASSETS

FOR THE SIX MONTHS
ENDED FOR THE YEAR
FEBRUARY 28, 2009 ENDED
(UNAUDITED) AUGUST 31, 2008
------------- -------------

FROM OPERATIONS:
Net investment income ................................................... $ 2,482,139 $ 9,100,028
Net realized gain from investments ...................................... 28,705 20,643
------------- -------------
Net increase in net assets resulting from operations ....................... 2,510,844 9,120,671
------------- -------------
DIVIDENDS TO SHAREHOLDERS FROM:
Net investment income:
Bedford Class ........................................................ (2,267,776) (8,433,248)
Sansom Class ......................................................... (214,363) (666,780)
------------- -------------
Net decrease in net assets from dividends to shareholders .................. (2,482,139) (9,100,028)
------------- -------------
CAPITAL SHARE TRANSACTIONS (AT $1.00 PER SHARE):
Proceeds from shares sold:
Bedford Class ........................................................ 479,736,478 693,423,026
Sansom Class ......................................................... 103,836,058 154,552,391
Shares issued on reinvestment of distributions:
Bedford Class ........................................................ 2,171,221 8,739,785
Sansom Class ......................................................... 34,777 147,473
Shares repurchased:
Bedford Class ........................................................ (441,579,027) (601,709,451)
Sansom Class ......................................................... (89,379,027) (141,303,481)
------------- -------------
Net increase in net assets from capital share transactions ................. 54,820,480 113,849,743
------------- -------------
Total increase in net assets ............................................... 54,849,185 113,870,386

NET ASSETS
Beginning of period ..................................................... 348,136,123 234,265,737
------------- -------------
End of period ........................................................... $ 402,985,308 $ 348,136,123
============= =============
Undistributed net investment income, end of period ......................... $ 831 $ 831
============= =============

See Accompanying Notes to Financial Statements.

THE RBB FUND, INC.
MONEY MARKET PORTFOLIO
FINANCIAL HIGHLIGHTS
(FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD)

THE BEDFORD CLASS
---------------------------------------------------------------------------------
FOR THE
SIX MONTHS FOR THE FOR THE FOR THE FOR THE FOR THE
ENDED YEAR YEAR YEAR YEAR YEAR
FEBRUARY 28, ENDED ENDED ENDED ENDED ENDED
2009 AUGUST 31, AUGUST 31, AUGUST 31, AUGUST 31, AUGUST 31,
(UNAUDITED) 2008 2007 2006 2005 2004
------------- ------------ ----------- ----------- ----------- ------------

Net asset value, beginning of period . $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00
-------- -------- -------- -------- -------- --------
Income from investment operations:
Net investment income ............. 0.0064 0.0307 0.0447 0.0388 0.0162 0.0025
Net gains (losses) on securities .. --(b) --(b) --(b) --(b) --(b) --(b)
-------- -------- -------- -------- -------- --------
Total net income from investment
operations .................... 0.0064 0.0307 0.0447 0.0388 0.0162 0.0025
-------- -------- -------- -------- -------- --------
Less dividends and distributions:
Dividends (from net
investment income) .............. (0.0064) (0.0307) (0.0447) (0.0388) (0.0162) (0.0025)
-------- -------- -------- -------- -------- --------
Net asset value, end of period ....... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00
======== ======== ======== ======== ======== ========
Total Return .................... 0.64% 3.12% 4.56% 3.95% 1.63% 0.25%

Ratios/Supplemental Data
Net assets, end of period
(000's omitted) ................. $359,742 $319,387 $218,914 $150,657 $109,495 $ 72,001
Ratios of expenses to average
net assets(a) ................... 0.90%(c) 0.90% 0.90% 0.85% 0.97% 0.94%
Ratios of net investment income
to average net assets ........... 1.27%(c) 2.94% 4.47% 3.81% 1.68% 0.24%

(a) Without the waiver of advisory fees and reimbursement of certain operating
expenses, the ratios of expenses to average net assets for the Bedford
Class of the Money Market Portfolio would have been 1.25% for the six
months ended February 28, 2009 and 1.23%, 1.29%, 1.34%, 1.23% and 1.34% for
the years ended August 31, 2008, 2007, 2006, 2005 and 2004, respectively.

(b) Amount is less than $0.00005 per share.

See Accompanying Notes to Financial Statements.

THE RBB FUND, INC.
MONEY MARKET PORTFOLIO
FINANCIAL HIGHLIGHTS (CONCLUDED)
(FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD)

THE SANSOM STREET CLASS
---------------------------------------------------------------------------------
FOR THE
SIX MONTHS FOR THE FOR THE FOR THE FOR THE FOR THE
ENDED YEAR YEAR YEAR YEAR YEAR
FEBRUARY 28, ENDED ENDED ENDED ENDED ENDED
2009 AUGUST 31, AUGUST 31, AUGUST 31, AUGUST 31, AUGUST 31,
(UNAUDITED) 2008 2007 2006 2005 2004
------------- ------------ ----------- ----------- ----------- ------------

Net asset value, beginning of period ... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00
------- -------- -------- -------- -------- --------
Income from investment operations:
Net investment income ............... 0.0096 0.0365 0.0502 0.0434 0.0239 0.0100
Net gains (losses) on securities .... --(b) --(b) --(b) --(b) --(b) --(b)
------- -------- -------- -------- -------- --------
Total net income from investment
operations ...................... 0.0096 0.0365 0.0502 0.0434 0.0239 0.0100
------- -------- -------- -------- -------- --------
Less dividends and distributions:
Dividends (from net
investment income) ................ (0.0096) (0.0365) (0.0502) (0.0434) (0.0239) (0.0100)
------- -------- -------- -------- -------- --------
Net asset value, end of period ......... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00
======= ======== ======== ======== ======== ========
Total Return ...................... 0.96% 3.71% 5.14% 4.42% 2.41% 1.00%

Ratios/Supplemental Data
Net assets, end of period
(000's omitted) ................... $43,243 $ 28,749 $ 15,352 $ 15,525 $ 87,304 $141,372
Ratios of expenses to average
net assets(a) ..................... 0.25%(c) 0.31% 0.35% 0.26% 0.20% 0.20%
Ratios of net investment income to
average net assets ................ 1.66%(c) 3.64% 5.02% 4.25% 2.39% 0.98%

(a) Without the waiver of advisory fees and reimbursement of certain operating
expenses, the ratios of expenses to average net assets for the Sansom
Street Class of the Money Market Portfolio would have been 0.60% for the
six months ended February 28, 2009 and 0.60%, 0.69%, 0.67%, 0.67% and 0.59%
for the years ended August 31, 2008, 2007, 2006, 2005 and 2004,
respectively.

(b) Amount is less than $0.00005 per share.

See Accompanying Notes to Financial Statements.

THE RBB FUND, INC.
MONEY MARKET PORTFOLIO
NOTES TO FINANCIAL STATEMENTS
FEBRUARY 28, 2009
(UNAUDITED)

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The RBB Fund, Inc. ("RBB" or the "Company") was incorporated under the laws
of the State of Maryland on February 29, 1988, and is registered under the
Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end
management investment company. RBB is a "series fund," which is a mutual fund
divided into separate portfolios. Each portfolio is treated as a separate entity
for certain matters under the 1940 Act, and for other purposes, and a
shareholder of one portfolio is not deemed to be a shareholder of any other
portfolio. Currently, RBB has eighteen active investment portfolios, including
the Money Market Portfolio ("Portfolio"), which comprise the RBB family of
funds.

RBB has authorized capital of one hundred billion shares of common stock of
which 78.773 billion shares are currently classified into one hundred and
twenty-seven classes of common stock. The Portfolio has issued shares with a par
value of $0.001. Each class represents an interest in an active or inactive RBB
investment portfolio. The active classes have been grouped into nine separate
"families."

SECURITY VALUATION -- Securities held in the Portfolio are valued under the
amortized cost method, which approximates fair value. Under this method,
securities are valued at cost when purchased and thereafter a constant accretion
of discount or amortization of premium is recorded until maturity of the
security. Regular review and monitoring of the valuation is performed to ensure
that cost continues to approximate fair value and to avoid dilution or other
unfair results to shareholders. The Portfolio seeks to maintain net asset value
per share at $1.00.

Effective September 1, 2008, the Portfolio adopted Financial Accounting
Standards Board ("FASB") Statement of Financial Accounting Standards No. 157
("SFAS 157"). This standard clarifies the definition of fair value for financial
reporting, establishes a framework for measuring fair value and requires
additional disclosures about the use of fair value measurements. The three
levels of the fair value hierarchy under SFAS 157 are described below:

o Level 1 -- quoted prices in active markets for identical securities

o Level 2 -- other significant observable inputs (including quoted
prices for similar securities, interest rates, prepayment speeds,
credit risk, etc.)

o Level 3 -- significant unobservable inputs (including the Fund's own
assumptions in determining the fair value of investments)

The inputs or methodology used for valuing securities are not necessarily
an indication of the risk associated with investing in those securities. A
summary of the inputs used to value the Portfolio's investments as of February
28, 2009 is included with the Portfolio's Schedule of Investments.

SECURITY TRANSACTIONS, INVESTMENT INCOME, AND EXPENSES -- Security
transactions are accounted for on the trade date. The cost of investments sold
is determined by use of the specific identification method for both financial
reporting and income tax purposes. Interest income is accrued when earned.
Certain expenses, such as distribution, transfer agency and printing, are class
specific expenses and vary by class. Expenses not directly attributable to a
specific portfolio or class are allocated based on relative net assets of each
portfolio and class. Expenses incurred on behalf of a specific class, fund or
fund family are charged directly to the class, fund or fund family (in
proportion to net assets). Expenses incurred for all portfolios within the
Company (such as director or professional fees) are charged to all portfolios in
proportion to their average net assets.

THE RBB FUND, INC.
MONEY MARKET PORTFOLIO
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
FEBRUARY 28, 2009
(UNAUDITED)

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

DIVIDENDS AND DISTRIBUTIONS TO SHAREHOLDERS -- Dividends from net
investment income are declared daily, recorded on the ex-date and paid monthly.
All dividends from net investment income are taxed as ordinary income. Any net
realized capital gains are distributed at least annually. Income subject to
dividends and capital gain subject to distributions are determined in accordance
with income tax regulations, which may differ from accounting principles
generally accepted in the United States of America.

FEDERAL INCOME TAXES -- No provision is made for federal income taxes. It
is the Company's intention to have each portfolio continue to qualify for and
elect the tax treatment applicable to regulated investment companies under
Subchapter M of the Internal Revenue Code and make the requisite distributions
to its shareholders which will be sufficient to relieve it from federal income
and excise taxes.

REPURCHASE AGREEMENTS -- Money market instruments may be purchased from
financial institutions, such as banks and non-bank dealers, subject to the
seller's agreement to repurchase them at an agreed upon date and price.
Collateral for repurchase agreements may have longer maturities than the maximum
permissible remaining maturity of portfolio investments, provided the repurchase
agreements themselves mature in 13 months or less. The seller is required on a
daily basis to maintain the value of the securities subject to the agreement at
no less than the repurchase price. The agreements are conditioned upon the
collateral being deposited under the Federal Reserve book entry system or held
in a separate account by the Portfolio's custodian or an authorized securities
depository.

USE OF ESTIMATES -- The preparation of financial statements in conformity
with accounting principles generally accepted in the United States of America
requires management to make estimates and assumptions. These estimates and
assumptions affect the reported amounts of assets and liabilities and disclosure
of contingent assets and liabilities at the date of the financial statements and
the reported amounts of revenues and expenses during the reporting period.
Actual results could differ from those estimates.

OTHER -- In the normal course of business, the Portfolio may enter into
contracts that provide general indemnifications. The Portfolio's maximum
exposure under these arrangements is dependent on claims that may be made
against the Portfolio in the future and therefore, cannot be estimated; however,
based on experience, the risk of material loss for such claims is considered
remote.

2. TRANSACTIONS WITH AFFILIATES AND RELATED PARTIES

Pursuant to an Investment Advisory and Administration Agreement, BlackRock
Institutional Management Corp. (the "Adviser" or "BIMC"), an indirect subsidiary
of The PNC Financial Services Group, Inc., serves as investment adviser and
administrator for the Portfolio. BIMC and PNC Global Investment Servicing
(U.S.), Inc. ("PNC"), a member of The PNC Financial Services Group, Inc.,
entered into a delegation agreement on behalf of the Portfolio, wherein PNC has
agreed to perform administration and accounting services for an annual fee of
0.10% of the average net assets of the Portfolio, paid out of the fee paid to
BIMC.

THE RBB FUND, INC.
MONEY MARKET PORTFOLIO
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
FEBRUARY 28, 2009
(UNAUDITED)

2. TRANSACTIONS WITH AFFILIATES AND RELATED PARTIES (CONTINUED)

For its advisory services, BIMC is entitled to receive the following fees,
computed daily and payable monthly, and based on the Portfolio's average daily
net assets:

ANNUAL RATE
----------------------------------------------
0.45% of first $250 million of net assets;
0.40% of next $250 million of net assets; and
0.35% of net assets in excess of $500 million.

BIMC may, at its discretion, voluntarily waive and/or reimburse all or any
portion of its advisory fee for the Portfolio. For each class of shares within
the Portfolio, the net advisory fee charged to each class is the same on a
relative basis. For the six months ended February 28, 2009, advisory fees and
waivers for the investment portfolio were as follows:

GROSS NET
ADVISORY ADVISORY
FEE WAIVER FEE
----------- -------------- --------------
$825,801 $(673,997) $151,804

As of February 28, 2009, the Portfolio owed BIMC $19,380 in advisory fees.

PNC and PFPC Distributors, Inc. ("PFPC Distributors"), an affiliate of PNC,
may also voluntarily waive a portion of their fees and/or reimburse expenses.

The Portfolio will not pay BIMC, PNC or PFPC Distributors at a later time
for any amounts waived or assumed.

For providing regulatory administration services to RBB, PNC is entitled to
receive compensation as agreed to by the Company and PNC. This fee is allocated
to each portfolio of the Company in proportion to its net assets.

PNC serves as the transfer and dividend disbursing agent for each class.
For providing transfer agent services, PNC is entitled to receive fees from the
Portfolio. PNC may, at its discretion, voluntarily waive all or any portion of
its transfer agency fee for any class of shares.

PFPC Trust Company, an affiliate of PNC, provides certain custodial
services to the Portfolio. As compensation for such custodial services, PFPC
Trust Company is entitled to receive the following fees, computed daily and
payable monthly, and based on the Portfolio's average gross assets:

ANNUAL RATE
--------------------------------------------------------------
0.025% per thousand of first $50 million of gross assets;
0.020% per thousand of next $50 million of gross assets;
0.015% per thousand of gross assets in excess of $100 million.

The Portfolio, on behalf of the Bedford Class of shares of the Portfolio,
has adopted a Distribution Plan pursuant to Rule 12b-1 under the 1940 Act (the
"Plan"). The Portfolio has entered into a Distribution Agreement with PFPC
Distributors.

THE RBB FUND, INC.
MONEY MARKET PORTFOLIO
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
FEBRUARY 28, 2009
(UNAUDITED)

2. TRANSACTIONS WITH AFFILIATES AND RELATED PARTIES (CONTINUED)
The Plan provides for the Bedford Class to make monthly payments, based on
average net assets, to PFPC Distributors of up to 0.65% on an annualized basis.
PFPC Distributors may voluntarily waive these fees at its discretion. For the
six months ended February 28, 2009, distribution fees paid to PFPC Distributors
for the Bedford Class were as follows:

GROSS NET
DISTRIBUTION DISTRIBUTION
FEE WAIVER FEE
-------------- -------------- --------------
Bedford Class $1,245,277 $(88,574) $1,156,703

The Portfolio has entered into service agreements with banks affiliated
with PNC who render support services to customers who are the beneficial owners
of the Sansom Street Class in consideration of the payment of 0.10% of the daily
net asset value of such shares. For the six months ended February 28, 2009,
service organization fees were $694 for the Portfolio.

3. FEDERAL INCOME TAX INFORMATION

The Portfolio intends to continue to qualify as a regulated investment
company and distribute all of its taxable income. Therefore, no federal tax
provision is required.

FASB Interpretation No. 48 ("FIN 48"), Accounting for Uncertainty in Income
Taxes, sets forth a minimum threshold for financial statement recognition of the
benefit of a tax position taken or expected to be taken in a tax return.
Management has analyzed the Portfolio's tax positions and has concluded that no
provision for income tax is required in the Portfolio's financial statements.
The Portfolio is not aware of any tax positions for which it is reasonably
possible that the total amounts of unrecognized tax benefits will significantly
change in the next twelve months. However, management's conclusions regarding
the adoption of FIN 48 may be subject to review and adjustment at a later date
based on factors including, but not limited to, further implementation guidance
from the FASB, new tax laws, regulations and administrative interpretations
(including court decisions). The Portfolio's federal tax returns for each of the
prior three fiscal years remain subject to examination by the Internal Revenue
Service.

For federal income tax purposes, realized capital losses may be carried
forward and applied against future realized gains. At August 31, 2008, the
Portfolio had no capital loss carryforwards. Prior period capital loss
carryforwards of $5,533 were utilized to offset current realized gains.

The tax character of dividends and distributions paid during the last
fiscal year was as follows:

ORDINARY LONG-TERM
INCOME GAINS
------------------ -------------
2008 $9,100,028 $ --

THE RBB FUND, INC.
MONEY MARKET PORTFOLIO
NOTES TO FINANCIAL STATEMENTS (CONCLUDED)
FEBRUARY 28, 2009
(UNAUDITED)

4. U.S. DEPARTMENT OF THE TREASURY'S GUARANTEE PROGRAM FOR MONEY MARKET FUNDS

On October 1, 2008, the Board of Directors of the Company approved the
Portfolio's participation in the Guarantee Program for Money Market Funds (the
"Guarantee Program") established by the U.S. Department of the Treasury (the
"Treasury"). The Guarantee Program provides coverage to shareholders of record
in the Portfolio as of the close of business on September 19, 2008 and would be
triggered if the Portfolio's NAV falls below $0.9950. The number of shares
covered will be the lesser of (1) shares owned on September 19, 2008 or (2)
shares owned on the date on which the Portfolio's NAV is less than $0.9950
("Guarantee Event"). In order for payment to occur under the Guarantee Program,
the Portfolio would need to initiate the liquidation of the Portfolio within
five business days of the Guarantee Event.

To participate in the Guarantee Program, the Department of Treasury
requires publicly offered money market funds that are regulated under Rule 2a-7
of the 1940 Act ("eligible money market funds") with an NAV per share greater
than or equal to $0.9975 as of the close of business on September 19, 2008, to
pay an upfront, non-refundable fee of 0.01 percent (one basis point) for the
original period and 0.015 percent (1.5 basis points) for the first and second
extension periods based on the number of shares outstanding on that date.
Eligible money market funds with an NAV per share greater than or equal to
$0.9950 and below $0.9975 as of the close of business on September 19, 2008, are
required to pay an upfront, non-refundable fee of 0.015 percent (1.5 basis
points) for the original period and 0.023 percent (2.3 basis points) for the
first and second extension periods based on the number of shares outstanding on
that date. Funds with an NAV per share below $0.9950 as of the close of business
on September 19, 2008 may not participate in the Guarantee Program. On October
6, 2008, the Portfolio paid $35,923 to participate in the Guarantee Program,
which amount was amortized through December 18, 2008. The initial term of the
Guarantee Program expired on December 18, 2008. On December 5, 2008, the
Portfolio paid $53,882 to participate in the first extension of the Guarantee
Program which extended the Guarantee Program through April 30, 2009. This amount
will be amortized through April 30, 2009.

On April 1, 2009, the U.S. Treasury Department announced a second extension
of its Guarantee Program through September 18, 2009, in order to support ongoing
stability in financial markets. On April 9, 2009, the Portfolio paid $53,882 to
participate in the second extension of the Guarantee Program. This amount will
be amortized through September 18, 2009.

5. SUBSEQUENT EVENTS

Effective March 13, 2009, the Distributor has agreed to voluntarily waive a
portion of the Distribution and Service (12b-1) Fees payable by Bedford Shares
of the Portfolio to the extent necessary to maintain a minimum annualized net
yield of at least 0.00%. This waiver is voluntary and may be changed or
terminated by the Distributor at any time.

THE RBB FUND, INC.
MONEY MARKET PORTFOLIO
ADDITIONAL INFORMATION
(UNAUDITED)

PROXY VOTING

Policies and procedures that the Portfolio uses to determine how to vote
proxies relating to portfolio securities as well as information regarding how
the Portfolio voted proxies relating to portfolio securities for the most recent
12-month period ended June 30 are available without charge, upon request, by
calling the number shown below and on the Securities and Exchange Commission's
("SEC") website at http://www.sec.gov.

Bedford (800) 888-9723
Sansom Street (800) 430-9618

QUARTERLY PORTFOLIO SCHEDULES

The Company files its complete schedule of portfolio holdings with the SEC
for the first and third fiscal quarter of each fiscal year (quarters ended
November 30 and May 31) on Form N-Q. The Company's Form N-Q is available on the
SEC website at http://www.sec.gov and may be reviewed and copied at the SEC
Public Reference Room in Washington, D.C. Information on the operation of the
SEC Public Reference Room may be obtained by calling (202) 551-8090.

[THIS PAGE INTENTIONALLY LEFT BLANK.]

INVESTMENT ADVISER
BlackRock Institutional Management Corporation
100 Bellevue Parkway
Wilmington, DE 19809

TRANSFER AGENT
PNC Global Investment Servicing (U.S.), Inc.
101 Sabin Street
Pawtucket, RI 02866

PRINCIPAL UNDERWRITER
PFPC Distributors, Inc.
760 Moore Road
King of Prussia, PA 19406

CUSTODIAN
PFPC Trust Company
8800 Tinicum Blvd.
Suite 200
Philadelphia, PA 19153

INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Deloitte & Touche LLP
1700 Market Street
Philadelphia, PA 19103-3984

COUNSEL
Drinker Biddle & Reath LLP
One Logan Square
18th and Cherry Streets
Philadelphia, PA 19103-6996

THE SANSOM
STREET
CLASS

OF
THE RBB FUND, INC.
MONEY MARKET PORTFOLIO

SEMI-ANNUAL REPORT
FEBRUARY 28, 2009
(UNAUDITED)

THIS REPORT IS SUBMITTED FOR THE GENERAL INFORMATION OF THE SHAREHOLDERS OF THE
PORTFOLIO. IT IS NOT AUTHORIZED FOR DISTRIBUTION UNLESS PRECEDED OR ACCOMPANIED
BY A PROSPECTUS FOR THE PORTFOLIO.
================================================================================