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SIGNATURE J. KEVIN KENELY
TITLE V.P. FUND ADMIN
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ACCOUNTING
RECORDS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ACCOUNTING
RECORDS.
</LEGEND>
<SERIES>
<NUMBER> 101
<NAME> KEYSTONE SMALL COMPANY GROWTH FUND II CLASS A
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAY-31-1997
<PERIOD-START> JUN-01-1996
<PERIOD-END> NOV-30-1996
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<INVESTMENTS-AT-VALUE> 48,956,193
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<PAYABLE-FOR-SECURITIES> 90,764
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 722,333
<TOTAL-LIABILITIES> 813,097
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<SHARES-COMMON-STOCK> 1,414,405
<SHARES-COMMON-PRIOR> 735,452
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<ACCUMULATED-NET-GAINS> 0
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<NET-ASSETS> 14,687,063
<DIVIDEND-INCOME> 9,538
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<OTHER-INCOME> 0
<EXPENSES-NET> (120,636)
<NET-INVESTMENT-INCOME> (89,786)
<REALIZED-GAINS-CURRENT> (565,889)
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<NET-CHANGE-FROM-OPS> (529,856)
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<NUMBER-OF-SHARES-SOLD> 942,947
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ACCOUNTING
RECORDS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ACCOUNTING
RECORDS.
</LEGEND>
<SERIES>
<NUMBER> 102
<NAME> KEYSTONE SMALL COMPANY GROWTH FUND II CLASS B
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAY-31-1997
<PERIOD-START> JUN-01-1996
<PERIOD-END> NOV-30-1996
<INVESTMENTS-AT-COST> 47,218,839
<INVESTMENTS-AT-VALUE> 48,956,193
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ACCOUNTING
RECORDS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ACCOUNTING
RECORDS.
</LEGEND>
<SERIES>
<NUMBER> 103
<NAME> KEYSTONE SMALL COMPANY GROWTH FUND II CLASS C
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