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<PAGE> PAGE 13
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<PAGE> PAGE 15
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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<PAGE> PAGE 37
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<PAGE> PAGE 38
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<PAGE> PAGE 39
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<PAGE> PAGE 40
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<PAGE> PAGE 41
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<PAGE> PAGE 42
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<PAGE> PAGE 43
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<PAGE> PAGE 44
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<PAGE> PAGE 45
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<PAGE> PAGE 46
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<PAGE> PAGE 47
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<PAGE> PAGE 48
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<PAGE> PAGE 49
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<PAGE> PAGE 50
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<PAGE> PAGE 51
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<PAGE> PAGE 52
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SIGNATURE J. SCOTT FOX
TITLE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<INTEREST-INCOME> 646,793
<OTHER-INCOME> 0
<EXPENSES-NET> (558,265)
<NET-INVESTMENT-INCOME> 579,644
<REALIZED-GAINS-CURRENT> (6,877,466)
<APPREC-INCREASE-CURRENT> 5,570,006
<NET-CHANGE-FROM-OPS> (727,816)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (544,565)
<DISTRIBUTIONS-OF-GAINS> (230,169)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8,539,090
<NUMBER-OF-SHARES-REDEEMED> (2,210,865)
<SHARES-REINVESTED> 60,652
<NET-CHANGE-IN-ASSETS> 81,721,159
<ACCUMULATED-NII-PRIOR> 14,573
<ACCUMULATED-GAINS-PRIOR> 183,466
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 469,286
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 558,265
<AVERAGE-NET-ASSETS> 62,274,386
<PER-SHARE-NAV-BEGIN> 12.77
<PER-SHARE-NII> 0.07
<PER-SHARE-GAIN-APPREC> 0.07
<PER-SHARE-DIVIDEND> (0.08)
<PER-SHARE-DISTRIBUTIONS> (0.04)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.79
<EXPENSE-RATIO> 0.89
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001015965
<NAME> AETNA VARIABLE PORTFOLIOS,INC.
<SERIES>
<NUMBER> 01
<NAME>AETNA VALUE OPPORTUNITY VP
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 56,031,342
<INVESTMENTS-AT-VALUE> 67,533,287
<RECEIVABLES> 8,621,055
<ASSETS-OTHER> 10,314
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 76,164,656
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 55,950
<TOTAL-LIABILITIES> 55,950
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 66,911,800
<SHARES-COMMON-STOCK> 5,283,086
<SHARES-COMMON-PRIOR> 767,619
<ACCUMULATED-NII-CURRENT> 7,394
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (2,511,444)
<ACCUM-APPREC-OR-DEPREC> 11,700,956
<NET-ASSETS> 76,108,706
<DIVIDEND-INCOME> 456,116
<INTEREST-INCOME> 329,780
<OTHER-INCOME> 0
<EXPENSES-NET> (348,249)
<NET-INVESTMENT-INCOME> 437,647
<REALIZED-GAINS-CURRENT> (2,499,205)
<APPREC-INCREASE-CURRENT> 11,291,482
<NET-CHANGE-FROM-OPS> 9,229,924
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (387,014)
<DISTRIBUTIONS-OF-GAINS> (339,496)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,269,016
<NUMBER-OF-SHARES-REDEEMED> (806,672)
<SHARES-REINVESTED> 53,123
<NET-CHANGE-IN-ASSETS> 66,961,929
<ACCUMULATED-NII-PRIOR> 1,435
<ACCUMULATED-GAINS-PRIOR> 304,068
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 281,489
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 348,249
<AVERAGE-NET-ASSETS> 46,673,754
<PER-SHARE-NAV-BEGIN> 11.92
<PER-SHARE-NII> 0.08
<PER-SHARE-GAIN-APPREC> 2.57
<PER-SHARE-DIVIDEND> (0.08)
<PER-SHARE-DISTRIBUTIONS> (0.08)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.41
<EXPENSE-RATIO> 0.74
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001015965
<NAME> AETNA VARIABLE PORTFOLIOS, INC.
<SERIES>
<NUMBER> 10
<NAME>AETNA REAL ESTATE SECURITIES VP
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 6,323,724
<INVESTMENTS-AT-VALUE> 5,574,763
<RECEIVABLES> 70,729
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<TOTAL-ASSETS> 5,653,869
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 154,251
<TOTAL-LIABILITIES> 154,251
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 6,433,336
<SHARES-COMMON-STOCK> 645,065
<SHARES-COMMON-PRIOR> 500,000
<ACCUMULATED-NII-CURRENT> 1,335
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (186,092)
<ACCUM-APPREC-OR-DEPREC> (748,961)
<NET-ASSETS> 5,499,618
<DIVIDEND-INCOME> 330,137
<INTEREST-INCOME> 7,499
<OTHER-INCOME> 0
<EXPENSES-NET> (51,862)
<NET-INVESTMENT-INCOME> 285,774
<REALIZED-GAINS-CURRENT> (187,051)
<APPREC-INCREASE-CURRENT> (903,215)
<NET-CHANGE-FROM-OPS> (804,492)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (282,137)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 371,334
<NUMBER-OF-SHARES-REDEEMED> (243,265)
<SHARES-REINVESTED> 16,996
<NET-CHANGE-IN-ASSETS> 346,707
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 959
<OVERDISTRIB-NII-PRIOR> (2,302)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 40,863
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 71,794
<AVERAGE-NET-ASSETS> 5,420,666
<PER-SHARE-NAV-BEGIN> 10.31
<PER-SHARE-NII> 0.45
<PER-SHARE-GAIN-APPREC> (1.78)
<PER-SHARE-DIVIDEND> (0.45)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 8.53
<EXPENSE-RATIO> 0.95
<AVG-DEBT-OUTSTANDING> 0
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001015965
<NAME> AETNA VARIABLE PORTFOLIOS, INC.
<SERIES>
<NUMBER> 05
<NAME>AETNA HIGH YIELD VP
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 9,734,639
<INVESTMENTS-AT-VALUE> 9,355,204
<RECEIVABLES> 148,375
<ASSETS-OTHER> 301
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 9,503,880
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 737,120
<TOTAL-LIABILITIES> 737,120
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 9,703,382
<SHARES-COMMON-STOCK> 969,508
<SHARES-COMMON-PRIOR> 1,000,000
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (1,719)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (555,468)
<ACCUM-APPREC-OR-DEPREC> (379,435)
<NET-ASSETS> 8,766,760
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,049,592
<OTHER-INCOME> 0
<EXPENSES-NET> (84,770)
<NET-INVESTMENT-INCOME> 964,822
<REALIZED-GAINS-CURRENT> (555,468)
<APPREC-INCREASE-CURRENT> (456,966)
<NET-CHANGE-FROM-OPS> (47,612)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (916,480)
<DISTRIBUTIONS-OF-GAINS> (70,942)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 349,877
NUMBER-OF-SHARES-REDEEMED> (402,434)
<SHARES-REINVESTED> 22,065
<NET-CHANGE-IN-ASSETS> (1,331,652)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 20,881
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 68,620
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 102,007
<AVERAGE-NET-ASSETS> 10,499,816
<PER-SHARE-NAV-BEGIN> 10.10
<PER-SHARE-NII> 1.01
<PER-SHARE-GAIN-APPREC> (1.03)
<PER-SHARE-DIVIDEND> (1.02)
<PER-SHARE-DISTRIBUTIONS> (0.02)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.04
<EXPENSE-RATIO> 0.80
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001015965
<NAME> AETNA VARIABLE PORTFOLIOS, INC.
<SERIES>
<NUMBER> 06
<NAME>AETNA INDEX PLUS BOND VP
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> DEC-31-1998
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<INVESTMENTS-AT-VALUE> 15,664,658
<RECEIVABLES> 218,431
<ASSETS-OTHER> 361
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 15,883,450
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 776,367
<TOTAL-LIABILITIES> 776,367
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 14,808,997
<SHARES-COMMON-STOCK> 1,482,779
<SHARES-COMMON-PRIOR> 1,500,000
<ACCUMULATED-NII-CURRENT> 6,929
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 6,523
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 284,634
<NET-ASSETS> 15,107,083
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 958,876
<OTHER-INCOME> 0
<EXPENSES-NET> (70,640)
<NET-INVESTMENT-INCOME> 888,236
<REALIZED-GAINS-CURRENT> 62,856
<APPREC-INCREASE-CURRENT> 276,559
<NET-CHANGE-FROM-OPS> 1,227,651
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (882,106)
<DISTRIBUTIONS-OF-GAINS> (56,333)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 185,078
<NUMBER-OF-SHARES-REDEEMED> (209,714)
<SHARES-REINVESTED> 7,415
<NET-CHANGE-IN-ASSETS> 98,209
<ACCUMULATED-NII-PRIOR> 799
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
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<PER-SHARE-NAV-BEGIN> 10.01
<PER-SHARE-NII> 0.60
<PER-SHARE-GAIN-APPREC> 0.21
<PER-SHARE-DIVIDEND> (0.59)
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<PER-SHARE-NAV-END> 10.19
<EXPENSE-RATIO> 0.45
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001015965
<NAME> AETNA VARIABLE PORTFOLIOS, INC.
<SERIES>
<NUMBER> 11
<NAME>AETNA INDEX PLUS SMALL CAP VP
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> DEC-31-1998
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<INVESTMENTS-AT-VALUE> 7,551,444
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<TOTAL-ASSETS> 7,793,809
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<SENIOR-LONG-TERM-DEBT> 0
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<TOTAL-LIABILITIES> 194,376
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7,896,470
<SHARES-COMMON-STOCK> 770,713
<SHARES-COMMON-PRIOR> 750,000
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (602)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (738,649)
<ACCUM-APPREC-OR-DEPREC> 442,214
<NET-ASSETS> 7,599,433
<DIVIDEND-INCOME> 64,134
<INTEREST-INCOME> 13,244
<OTHER-INCOME> 0
<EXPENSES-NET> (47,642)
<NET-INVESTMENT-INCOME> 29,736
<REALIZED-GAINS-CURRENT> (464,243)
<APPREC-INCREASE-CURRENT> 122,989
<NET-CHANGE-FROM-OPS> (311,518)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (28,374)
<DISTRIBUTIONS-OF-GAINS> (274,406)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 858,897
NUMBER-OF-SHARES-REDEEMED> (866,170)
<SHARES-REINVESTED> 27,986
<NET-CHANGE-IN-ASSETS> (217,828)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (1,964)
<OVERDIST-NET-GAINS-PRIOR> 0
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 68,904
<AVERAGE-NET-ASSETS> 7,877,397
<PER-SHARE-NAV-BEGIN> 10.42
<PER-SHARE-NII> 0.04
<PER-SHARE-GAIN-APPREC> (0.19)
<PER-SHARE-DIVIDEND> (0.04)
<PER-SHARE-DISTRIBUTIONS> (0.37)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.86
<EXPENSE-RATIO> 0.60
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001015965
<NAME> AETNA VARIABLE PORTFOLIOS, INC.
<SERIES>
<NUMBER> 07
<NAME>AETNA INDEX PLUS MID CAP VP
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 8,673,844
<INVESTMENTS-AT-VALUE> 10,374,528
<RECEIVABLES> 99,156
<ASSETS-OTHER> 2,512
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 10,476,196
<PAYABLE-FOR-SECURITIES> 255,266
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 298,036
<TOTAL-LIABILITIES> 553,302
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 8,239,393
<SHARES-COMMON-STOCK> 813,112
<SHARES-COMMON-PRIOR> 750,000
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (17,183)
<ACCUM-APPREC-OR-DEPREC> 1,700,684
<NET-ASSETS> 9,922,894
<DIVIDEND-INCOME> 96,852
<INTEREST-INCOME> 13,992
<OTHER-INCOME> 0
<EXPENSES-NET> (52,004)
<NET-INVESTMENT-INCOME> 58,840
<REALIZED-GAINS-CURRENT> 421,908
<APPREC-INCREASE-CURRENT> 1,443,442
<NET-CHANGE-FROM-OPS> 1,924,190
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (58,489)
<DISTRIBUTIONS-OF-GAINS> (438,594)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 509,475
NUMBER-OF-SHARES-REDEEMED> (468,257)
<SHARES-REINVESTED> 21,894
<NET-CHANGE-IN-ASSETS> 2,166,500
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (848)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 34,602
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 70,639
<AVERAGE-NET-ASSETS> 8,609,934
<PER-SHARE-NAV-BEGIN> 10.34
<PER-SHARE-NII> 0.07
<PER-SHARE-GAIN-APPREC> 2.42
<PER-SHARE-DIVIDEND> (0.07)
<PER-SHARE-DISTRIBUTIONS> (0.56)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.20
<EXPENSE-RATIO> 0.60
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001015965
<NAME> AETNA VARIABLE PORTFOLIOS, INC.
<SERIES>
<NUMBER> 03
<NAME>AETNA INDEX PLUS LARGE CAP VP
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 390,136,934
<INVESTMENTS-AT-VALUE> 460,016,912
<RECEIVABLES> 43,776,747
<ASSETS-OTHER> 24,518
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 503,818,177
<PAYABLE-FOR-SECURITIES> 7,530,239
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 228,884
<TOTAL-LIABILITIES> 7,759,123
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 425,309,838
<SHARES-COMMON-STOCK> 28,207,887
<SHARES-COMMON-PRIOR> 9,453,894
<ACCUMULATED-NII-CURRENT> 8,658
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 825,265
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 69,915,293
<NET-ASSETS> 496,059,054
<DIVIDEND-INCOME> 3,665,467
<INTEREST-INCOME> 578,410
<OTHER-INCOME> 0
<EXPENSES-NET> (1,284,207)
<NET-INVESTMENT-INCOME> 2,959,670
<REALIZED-GAINS-CURRENT> 17,020,679
<APPREC-INCREASE-CURRENT> 59,891,322
<NET-CHANGE-FROM-OPS> 79,871,671
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3,004,103)
<DISTRIBUTIONS-OF-GAINS> (17,271,067)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 19,017,627
NUMBER-OF-SHARES-REDEEMED> (1,421,398)
<SHARES-REINVESTED> 1,157,764
<NET-CHANGE-IN-ASSETS> 363,542,536
<ACCUMULATED-NII-PRIOR> 53,091
<ACCUMULATED-GAINS-PRIOR> 1,075,653
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 971,046
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,284,207
<AVERAGE-NET-ASSETS> 276,134,133
<PER-SHARE-NAV-BEGIN> 14.02
<PER-SHARE-NII> 0.12
<PER-SHARE-GAIN-APPREC> 4.30
<PER-SHARE-DIVIDEND> (0.12)
<PER-SHARE-DISTRIBUTIONS> (0.73)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 17.59
<EXPENSE-RATIO> 0.46
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
Independent Auditors' Report
To the Board of Director
s and Shareholders
Aetna Variable Portfolios,
Inc.
In planning and performing
our audits of the
financial statements of
Aetna Growth VP, Aetna
High Yield VP, Aetna Index
Plus Bond VP, Aetna
Index Plus Large Cap VP,
Aetna Index Plus Mid
Cap VP, Aetna Index Plus
Small Cap VP, Aetna
International VP, Aetna
Mid Cap VP, Aetna Real
Estate Securities VP,
Aetna Small Company VP
and Aetna Value
Opportunity VP (collectively
the "Funds") for the
year ended December 31,
1998, we considered their
internal control,
including procedures
for safeguarding
securities, in ord
The management of the Funds
is responsible for
establishing and
maintaining internal control.
In fulfilling this
responsibility, estimates
and judgments by management
are required to
assess the expected
benefits and related
costs of controls.
Generally, controls that
are relevant to an
audit pertain to the
entity's objective of
preparing financial
statements for external
purposes that are
fairly presented in
conformity with
generally accepted
accounting principles.
Those controls
include the safeguarding
Because of inherent
limitations in internal
control, errors or
irregularities may occur
and not be detected.
Also, projection of
any evaluation of
internal control to future
periods is subject to
the risk that it may
become inadequate
because of changes in
conditions or that
the effectiveness of
the design and operation
may deteriorate.
Our consideration of
internal control would
not necessarily disclose
all matters in
internal control that
might be material
weaknesses under
standards established
by the American
Institute of Certified
Public Accountants.
A material weakness
is a condition in which
the design or
operation of any
specific internal
control component d
oes not reduce to
a relatively low
level the risk that
errors or
irregularities in amounts
that would be material
in relation to
the financial statements
being audited
may occur
by employees in the
normal course of
performing their
assigned functions.
However, we noted
no matters involving
internal control,
including controls over
safeguarding securities,
that we consider
to be material weaknesses
as defined above
as of December 31, 1998.
This report is intende
d solely for the
information and use
of management
and the Securities
and Exchange Commission.
Hartford, Connecticut
January 29, 1999
Sub-Item 77C - Submission of Matters to
a Vote of Securities Holders Y
(a) A special meeting was held on September 4, 1998.
(b) The matter voted upon at the special meeting
was approval of a new subadvisory agreement
pursuant to which Bradley, Foster & Sargent,
Inc. would serve as subadviser to the
Aetna Value Opportunity VP and appointment
of Peter Canoni to serve as portfolio manager.
Number of affirmative votes: 3,376,821.528
Number of negative votes: 76,518.957
Number of abstaining votes: 225,451.708
Total votes: 3,678,792.193
Sub-Item 77H - Changes in Control of Registrant Y
On September 4, 1998, Bradley, Foster & Sargent
was appointed as subadviser to Aetna Value
Opportunity VP ("Fund"). As subadviser,
Bradley is responsible for making equity
investment decisions for the Fund.
EXHIBITS
77Q1(e) - Subadvisory Agreement (October 1, 1998):
Incorporated herein by reference to Post-Effective
Amendment No. 6 to Registration Statement
on Form N-1A (File No. 33-05173), as filed
electronically with the Securities and Exchange
Commission on September 30, 1998 (Accession No.
0000950146-98-001665).
KXC777.DOC
