KEYSTONE EMERGING MARKETS FUND, N-18F1, 1996-04-23

KEYSTONE EMERGING MARKETS FUND
N-18F1, 1996-04-23

Previous: REMODELERS INVESTMENT CORP, S-3/A, 1996-04-23

Next: EQUITY INCOME FUND SEL TEN PORT 1996 INTL SER A1 DEF ASSET F, 487, 1996-04-23



<PAGE>
                                                              File No. 333-1193
                                                                       811-7551

                                  FORM N-18F-1

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549



             NOTIFICATION OF ELECTION PURSUANT TO RULE 18f-1 UNDER THE
                        INVESTMENT COMPANY ACT OF 1940.



                         KEYSTONE EMERGING MARKETS FUND
                            Exact Name of Registrant

<PAGE>


                            NOTIFICATION OF ELECTION


         Keystone Emerging Markets Fund (the "Fund") hereby notifies the
Securities and Exchange Commission (the "Commission") that it elects to commit
itself to pay in cash all redemptions by a shareholder of record as provided by
Rule 18f-1 under the Investment Company Act of 1940 (the "1940 Act"). It is
understood that this election is irrevocable while such Rule is in effect unless
the Commission by order upon application permits the withdrawal of this
Notification of Election.


                                    SIGNATURE

         Pursuant to the requirements of Rule 18f-1 under the 1940 Act, the Fund
has caused this Notification of Election to be duly executed on its behalf in
the city of Boston and the state of Massachusetts on the 23rd day of April,
1996.


                                                 KEYSTONE EMERGING MARKETS FUND


                                    By: /s/ Albert H. Elfner, III
                                       --------------------------
                                       Albert H. Elfner, III
                                       President and Chief
                                       Executive Officer


ATTEST: /s/ Melina M.T. Murphy
        -------------------------
        Name:  Melina M.T. Murphy
        Title: Assistant Secretary


#101607b5