CONSENT OF INDEPENDENT ACCOUNTANTS


We hereby consent to the use in this Schedule TO of our reports dated  September
19, 2002 and  September 19, 2003,  relating to the  financial  statements of The
Hyperion  Strategic Bond Fund,  Inc.,  which are  incorporated by reference into
such Schedule TO.

/s/ Schwartz & Hofflich LLP

Schwartz & Hofflich LLP
Norwalk, CT
August 31, 2004