Exhibit 23.1




            Consent of Independent Registered Public Accounting Firm


We consent to the incorporation by reference in the Registration Statement (Form
S-8 No.  33-43881)  pertaining to Capital  Southwest  Corporation  of our report
dated May 12, 2004,  with respect to the  consolidated  financial  statements of
Capital  Southwest  Corporation  included in the March 31, 2004 Annual Report to
Shareholders of Capital  Southwest  Corporation and incorporated by reference in
this Annual Report (Form 10-K) for the year ended March 31, 2004.


                                                     Ernst & Young LLP


June 11, 2004
Dallas, Texas