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<PAGE> PAGE 2
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SIGNATURE PETER CORNIOTES
TITLE ASSISTANT SECRETARY
For period ending 06-30-98
File Number 811 - 7413
77(C) Matters submitted to a vote of security holders.
a. Special meeting of shareholders - March 27, 1998
Total Outstanding Shares as of February 12, 1998: 800,442
b. Matter voted on and number of affirmative/negative votes:
1. Directors Elected: S.M.S. Chadha, Robert M. DeMichele, Beverley C. Duer,
Barbara R. Evans, Richard M. Hisey, Lawrence Kantor, Jerard F. Maher,
Andrew
M. McCosh, Donald B. Miller, John G. Preston, Margaret W. Russell and Allen
H. Stowe.
For All Nominees: 627,769 Withheld Authority: 12,028
Votes Votes Votes
For Against
Abstained
--------- --------
- ---------
2. Approval of an investment sub-advisory
agreement between Lexington Management
Corporation and Market Systems Research
Advisors, Inc. (doing business as "MSR
Advisors") with respect to the Fund... 616,404 18,167
5,226
3. Selection of KPMG Peat Marwick LLP
as Independent Auditors ............. 634,647 865
4,284
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
The Schedule contains summary financial information extracted from semi-annual
financial statements dated June 30, 1998 and is qualified in its entirety by
reference to such financial statements.
</LEGEND>
<S> <C>
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<PERIOD-END> JUN-30-1998
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