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001 A000000 UNITED CONTINENTAL INCOME FUND, INC.
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002 B000000 SHAWNEE MISSION
002 C000000 KS
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<PAGE> PAGE 2
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012 A000001 WADDELL & REED SERVICES COMPANY
012 B000001 84-1062
012 C010001 OVERLAND PARK
012 C020001 KS
012 C030001 66202
012 C040001 4200
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013 B010001 KANSAS CITY
013 B020001 MO
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013 B040001 2232
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015 B000001 C
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015 C040001 6226
015 E010001 X
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015 A000003 SKANDINAVISKA ENSKILDA BANKEN
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015 C010003 STOCKHOLM
015 D010003 SWEDEN
015 E040003 X
015 A000004 UNITED MISSOURI TRUST COMPANY OF NEW YORK
015 B000004 S
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<PAGE> PAGE 3
020 B000001 13-2730828
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020 A000002 MORGAN (J.P.) SECURITIES INC.
020 B000002 13-3224016
020 C000002 30
020 A000003 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
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020 A000004 OPPENHEIM (SAL) & CIE.
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020 A000007 LEHMAN BROTHERS INC.
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<PAGE> PAGE 4
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022 A000007 BT ALEX. BROWN, INCORPORATED
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SIGNATURE THEODORE W. HOWARD
TITLE V.P. & TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE SEMIANNUAL REPORT
TO SHAREHOLDERS DATED SEPTEMBER 30, 1998 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000101124
<NAME> UNITED CONTINENTAL INCOME FUND, INC.
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-1998
<PERIOD-END> SEP-30-1998
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<INVESTMENTS-AT-VALUE> 560,357
<RECEIVABLES> 4,528
<ASSETS-OTHER> 23
<OTHER-ITEMS-ASSETS> 1
<TOTAL-ASSETS> 564,909
<PAYABLE-FOR-SECURITIES> 0
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<OTHER-ITEMS-LIABILITIES> 1,195
<TOTAL-LIABILITIES> 1,195
<SENIOR-EQUITY> 72,467
<PAID-IN-CAPITAL-COMMON> 400,348
<SHARES-COMMON-STOCK> 72,467
<SHARES-COMMON-PRIOR> 0
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<EXPENSES-NET> (2,963)
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<REALIZED-GAINS-CURRENT> 25,244
<APPREC-INCREASE-CURRENT> (64,883)
<NET-CHANGE-FROM-OPS> (31,724)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (7,785)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,964
<NUMBER-OF-SHARES-REDEEMED> (4,752)
<SHARES-REINVESTED> 939,792
<NET-CHANGE-IN-ASSETS> (46,606)
<ACCUMULATED-NII-PRIOR> 520
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<AVERAGE-NET-ASSETS> 594,964
<PER-SHARE-NAV-BEGIN> 8.32
<PER-SHARE-NII> .22
<PER-SHARE-GAIN-APPREC> (.55)
<PER-SHARE-DIVIDEND> (.21)
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</TABLE>
