Fund Net Asset Value and Current Conversion Ratio

Daily NAV as of 7/12/2019
Name Ticker NAV
Special Opportunities Fund Inc. SPE $15.63
Diluted NAV as of 7/12/2019
Name Ticker NAV
Special Opportunities Fund Inc. SPE $15.49

The Fund intends to report the NAV after the close of business on the last trading day of each week and the corresponding diluted NAV on the first trading day of the following week.

Current Conversion Ratio
1.6467