A MARYLAND CORPORATION
BUFFALO SMALL CAP FUND, INC.
Common Stock Par Value One Dollar Per Share
CUSIP
COM
THIS CERTIFIES THAT ___________________________________________________ is the
registered holder of ______________________________________________ Shares
BUFFALO SMALL CAP FUND, INC.
transferable only on the books of the Corporation by the holder hereof in person
or by Attorney upon surrender of this Certificate properly endorsed.
IN WITNESS WHEREOF, the said Corporation has caused this Certificate to
be signed by its duly authorized officers and its Corporate Seal to be hereunto
affixed this ___________day of _____________________A.D. 19__.
---------------------------- ---------------------------
Secretary President
Registered and Countersigned
By ________________________________
Authorized Person
DEMAND FOR REDEMPTION
THE UNDERSIGNED SHAREHOLDER hereby surrenders to the Corporation this
certificate and the shares evidenced thereby and demands redemption in
accordance with the provisions of Article Five of the Articles of Incorporation
and as described in the Prospectus.
__________________________, 19__ ______________________________
Date Shareholder
______________________________
Witness
THE SHAREHOLDER SHOULD REFER TO THE PROSPECTUS
FOR SIGNATURE GUARANTEE REQUIREMENTS
ASSIGNMENT
For Value Received, _________ hereby sell, assign and transfer unto
_______________________________________
_______________________________________________ Shares 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 powers of substitution in
the premises.
Dated _____________________, 19__
In the presence of
_______________ _________________
NOTICE: THE SIGNATURE OF THIS ASSIGNMENT
MUST CORRESPOND WITH THE NAME AS WRITTEN
UPON THE FACE OF THE CERTIFICATE, IN EVERY
PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT,
OR ANY CHANGE WHATEVER.
232034.1
