X0101 EFFECT 33 LIVE 2007-05-25 15:30:00

N-14

0000932510 ICAP FUNDS INC 333-141980 0000932510 ICAP FUNDS INC S000000733 MainStay ICAP Equity Fund C000002125 Class I 0000868307 ECLIPSE FUNDS INC. S000010101 MainStay All Cap Value Fund C000028018 Class I 0000932510 ICAP FUNDS INC S000000733 MainStay ICAP Equity Fund C000038926 Class A 0000868307 ECLIPSE FUNDS INC. S000010101 MainStay All Cap Value Fund C000028015 Class A 0000932510 ICAP FUNDS INC S000000733 MainStay ICAP Equity Fund C000038926 Class A 0000868307 ECLIPSE FUNDS INC. S000010101 MainStay All Cap Value Fund C000028016 Class B 0000932510 ICAP FUNDS INC S000000733 MainStay ICAP Equity Fund C000038927 Class C 0000868307 ECLIPSE FUNDS INC. S000010101 MainStay All Cap Value Fund C000028017 Class C