Cohen & Steers Select Utility Fund, Inc.
              Incorporated under the laws of the State of Maryland


Common Stock                                        CUSIP
This certificate is transferable in Canton,         See reverse side for certain
MA, Jersey City, NJ or New York, NY                 definitions


This is to Certify that ________________________________________ is the owner of
_________________

     Fully paid and non-assessable shares of the Common Stock, par value $.001
per share of,

Cohen & Steers Select Utility Fund, Inc. hereinafter called the "Corporation",
transferable on the books of the said Corporation by the holder hereof in person
or by duly authorized attorney upon surrender of this Certificate duly endorsed.
This Certificate and the shares represented hereby are issued and shall be held
subject to all of the provisions of the Articles of Incorporation and By-Laws
and all amendments thereto, copies of which are on file in the offices of the
Corporation, to all of which the holder of acceptance hereof assents.

     The Corporation is authorized to issue more than one class of capital
stock. The Corporation will furnish a full statement of the designation and any
preferences, conversion and other rights, voting powers, restrictions,
limitations as to dividends, qualifications and terms and conditions of
redemption of the stock of each class which the Corporation is authorized to
issue to any stockholder upon request without charge.

     This Certificate is not valid unless countersigned and registered by the
Transfer Agent and Registrar.

     Witness, the seal of the Corporation and the signatures of its duly
authorized officers.

Dated:


------------------------------             -------------------------------------
          Secretary                                                   President








Notice: The signature to this assignment must correspond with the name as
written upon the back of the certificate in every particular, without alteration
or enlargement of any change whatever.

The Corporation may issue more than one class of stock. Upon the request of a
stockholder, and without charge, the Corporation will provide a description of
each class of stock that the Corporation is authorized to issue, including the
designations and any preferences, conversion and other rights, voting powers,
restrictions, limitations as to dividends, qualifications and terms and
conditions of redemption of each class, and, with respect to any preferred or
special class in series, the differences in the relative rights and preferences
between the shares of each series to the extent they have been set and the
authority of the Board of Directors to set the relative rights and preferences
of subsequent series.

The following abbreviations when used in the inscription on the face of the
Certificate shall be construed as though they were written out in full according
to applicable laws.


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TEN          -- as tenants in common                 UNIF GIFT MIN           -- ......Custodian.......
COM                                                  ACT
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TEN ENT      -- as tenants by the entireties                                 (Cust)        (Minor)
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JT TEN       -- as joint tenants with right of                               Under Uniform Gifts to
             survivorship and not as tenant in                               Minors Act
             common                                                          .........................
                                                                                     (State)
------------------------------------------------------------------------------------------------------



     Additional abbreviations may also be used though not in the above list.

For value received, _____ hereby sell, assign and transfer unto
Please insert social security or other
identification number of assignee

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(Please print or typewrite name and address including postal zip code of
assignee)

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__________________________________________________________________________Shares
of the Common Stock represented by the within Certificate, and do hereby
irrevocably constitute and appoint
____________________________________________________________________ Attorney to
transfer the said Shares on the books of the within-named Corporation with full
power of substitution in the premises.

Dated __________________

       In presence of                       ____________________________________

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