Report of Independent Registered Public Accounting Firm

To the Board of Directors of
Small Cap Value Fund, Inc.

In planning and performing our audit of the financial
statements of Small Cap Value Fund, Inc. as of and
for the year ended December 31, 2018, in accordance
with the standards of the Public Accounting
Oversight Board (United States), we considered the
Company?s internal control over financial reporting,
including controls over safeguarding securities, as a
 basis for designing our auditing procedures for the
purpose of expressing our opinion on the financial
statements and to comply with the requirements of
Form N-CEN, but not for the purpose of expressing an
opinion on the effectiveness of the Company?s
internal control over financial reporting.  Accordingly,
 we express no such opinion.

The management of the Company is responsible for
establishing and maintaining effective internal
control over financial reporting.  In fulfilling this
responsibility, estimates and judgments by management
are required to assess the expected benefits and related
costs of control.  A company?s internal control
over financial reporting is a process designed to provide
 reasonable assurance regarding the reliability of
financial reporting and the preparation of financial
statements for external purposes in accordance with
generally accepted accounting principles (GAAP).  A
company?s internal control over financial reporting
includes those policies and procedures that (1) pertain to
the maintenance of records that, in reasonable
detail, accurately and fairly reflect the transactions and
 dispositions of the assets of the company; (2)
provide reasonable assurance that transactions are recorded
 as necessary to permit preparation of financial
statements in accordance with GAAP, and that receipts and
 expenditures of the company are being made
only in accordance with authorizations of management and
directors of the company; and (3) provide
reasonable assurance regarding prevention or timely detection
 of unauthorized acquisition, use or
disposition of a company?s assets that could have a material
 effect on the financial statements.

Because of its inherent limitations, internal control over
financial reporting may not prevent or detect
misstatements.  Also, projections of any evaluation of
effectiveness to future periods are subject to the
risk that controls may become inadequate because of changes
in conditions, or that the degree of
compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting
exists when the design or operation of a control
does not allow management or employees, in the normal course
 of performing their assigned functions, to
prevent or detect misstatements on a timely basis.  A material
 weakness is a deficiency, or combination of
deficiencies, in internal control over financial reporting,
such that there is a reasonable possibility that a
material misstatement of the Company?s annual or interim
financial statements will not be prevented or
detected on a timely basis.







Page 2

Our consideration of Small Cap Value Fund, Inc. internal
control over financial reporting was for limited
purpose described in the first paragraph and would not
necessarily disclose all deficiencies in internal
control that might be material weaknesses under standards
established by the Public Company
Accounting Oversight Board (United States).  However, we
noted no deficiencies in the Company?s
internal control over financial reporting and its operation,
 including controls over safeguarding securities,
which we consider to be a material weakness as defined above
 as of December 31, 2018.

This report is intended solely for the information and use
 of management and the Board of Directors of
Small Cap Value Fund, Inc. and the Securities and Exchange
 Commission and is not intended to be and
should not be used by anyone other than these specified parties.



/s/Turner, Stone & Company, L.L.P.


Dallas, Texas
February 18, 2019