NUVEEN FLAGSHIP MUNICIPAL TRUST
24F-2NT, 1998-07-28
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U.S. SECURITIES AND EXCHANGE COMMISSION
 Washington, DC  20549

FORM 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2

1.  Name and address of issuer:
NUVEEN FLAGSHIP MUNICIPAL TRUST 
333 West Wacker Drive
Chicago, Illinois  60606

2.  Name of each series or class of securities for which this 
Form is filed: (If the Form is being filed for all series and 
classes of securities of the issuer, check the box but do not 
list series or classes)  [ x  ]

3.  Investment Company Act File Number:  811-07873

     Securities Act File Number: 333-14725

4(a).  Last day of fiscal year for which this notice is filed:  
April 30, 1998

4(b). [   ]  Check box if this Form is being filed late.

4(c). [   ]  Check box if this is the last time the issuer will be filing 
this Form.

NUVEEN MUNICIPAL BOND FUND, Classes A, B, C & R

5.  Calculation of registration fee:
  (i) Aggregate sale price of securities sold during the 
fiscal year pursuant to section 24(f):

$301,247,200

  (ii) Aggregate price of securities redeemed or repurchased
during the fiscal year: 

$336,624,740

  (iii) Aggregate price of securities redeemed or repurchased
during any prior fiscal year ending no earlier than
October 11, 1995 that were not previously used to 
reduce registration fees payable to the Commission:

$ 

  (iv) Total available redemption credits [add items 5(ii)
and 5(iii)]:

- - $336,624,740

  (v) Net sales - if Item 5(i) is greater than Item 5(iv) [subtract
Item 5(iv) from Item 5(i)]:

$ 0.00

  (vi) Redemption credits available for use in future
years - if Item 5(i) is less than Item 5(iv) [subtract
Item 5(iv) from Item 5(i)]:

($35,377,540)

  (vii) Multiplier for determining registration fee:

 .000295

  (viii) Registration fee due [Multiply Item 5(v) by Item 5(vii)] 
(Enter "0" if no fee is due):

$ 0.00

6.  Prepaid Shares
If the response to Item 5(i) was determined by deducting an 
amount of securities that were registered under the 
Securities Act of 1933 pursuant to rule 24e-2 as in 
effect before October 11, 1997, then report the 
amount of securities (number of shares or other units) 
deducted here:  1,173,300.  If there is a number of shares 
or other units that were registered pursuant to rule 
24e-2 remaining unsold at the end of the fiscal year 
for which this form is filed that are available for use 
by the issuer in future fiscal years, then state that 
number here: ____.

7.  Interest due - if this Form is being filed more than 
90 days after the end of the issuer's fiscal year (see Instruction D):

+ $

8.  Total of the amount of the registration fee due plus 
any interest due [line 5(viii) plus line 7]:
 = $ 0.00

NUVEEN INSURED MUNICIPAL BOND FUND, Classes A, B, C & R

5.  Calculation of registration fee:
  (i) Aggregate sale price of securities sold during the 
fiscal year pursuant to section 24(f):

$101,321,767

  (ii) Aggregate price of securities redeemed or repurchased
during the fiscal year 

$92,161,203

  (iii) Aggregate price of securities redeemed or repurchased
during any prior fiscal year ending no earlier than
October 11, 1995 that were not previously used to 
reduce registration fees payable to the Commission:

$ 

  (iv) Total available redemption credits [add items 5(ii)
and 5(iii)]:

- - $92,161,203

  (v) Net sales - if Item 5(i) is greater than Item 5(iv) [subtract
Item 5(iv) from Item 5(i)]:

$ 9,160,564

  (vi) Redemption credits available for use in future
years - if Item 5(i) is less than Item 5(iv) [subtract
Item 5(iv) from Item 5(i)]:

  (vii) Multiplier for determining registration fee:

 .000295

  (viii) Registration fee due [Multiply Item 5(v) by Item 
5(vii)] (Enter "0" if no fee is due):

$ 2,702.37

6.  Prepaid Shares
If the response to Item 5(i) was determined by deducting an 
amount of securities that were registered under the 
Securities Act of 1933 pursuant to rule 24e-2 as in 
effect before October 11, 1997, then report the 
amount of securities (number of shares or other units) 
deducted here:  417,646.  If there is a number of shares 
or other units that were registered pursuant to rule 
24e-2 remaining unsold at the end of the fiscal year 
for which this form is filed that are available for use 
by the issuer in future fiscal years, then state that 
number here: ____.

7.  Interest due - if this Form is being filed more than 
90 days after the end of the issuer's fiscal year (see Instruction D):

+ $

8.  Total of the amount of the registration fee due plus 
any interest due [line 5(viii) plus line 7]:
 = $2,702.37

NUVEEN FLAGSHIP ALL-AMERICAN MUNICIPAL BOND FUND, Classes A, B, C & R

5.  Calculation of registration fee:
  (i) Aggregate sale price of securities sold during the 
fiscal year pursuant to section 24(f):

$87,447,793

  (ii) Aggregate price of securities redeemed or repurchased
during the fiscal year: 

$57,124,785

  (iii) Aggregate price of securities redeemed or repurchased
during any prior fiscal year ending no earlier than
October 11, 1995 that were not previously used to 
reduce registration fees payable to the Commission:

$ 

  (iv) Total available redemption credits [add items 5(ii)
and 5(iii)]:

- - $57,124,785

  (v) Net sales - if Item 5(i) is greater than Item 5(iv) [subtract
Item 5(iv) from Item 5(i)]:

$ 30,323,008

  (vi) Redemption credits available for use in future
years - if Item 5(i) is less than Item 5(iv) [subtract
Item 5(iv) from Item 5(i)]:

  (vii) Multiplier for determining registration fee:

 .000295

  (viii) Registration fee due [Multiply Item 5(v) by Item 
5(vii)] (Enter "0" if no fee is due):

$ 8,945.29

6.  Prepaid Shares
If the response to Item 5(i) was determined by deducting an 
amount of securities that were registered under the 
Securities Act of 1933 pursuant to rule 24e-2 as in 
effect before October 11, 1997, then report the 
amount of securities (number of shares or other units) 
deducted here:  ____.  If there is a number of shares 
or other units that were registered pursuant to rule 
24e-2 remaining unsold at the end of the fiscal year 
for which this form is filed that are available for use 
by the issuer in future fiscal years, then state that 
number here: ____.

7.  Interest due - if this Form is being filed more than 
90 days after the end of the issuer's fiscal year (see Instruction D):

+ $

8.  Total of the amount of the registration fee due plus 
any interest due [line 5(viii) plus line 7]:
 = $ 8,945.29

NUVEEN FLAGSHIP INTERMEDIATE MUNICIPAL BOND FUND, Classes A, C & R

5.  Calculation of registration fee:
  (i) Aggregate sale price of securities sold during the 
fiscal year pursuant to section 24(f):

$4,265,868

  (ii) Aggregate price of securities redeemed or repurchased
during the fiscal year: 

$8,387,774

  (iii) Aggregate price of securities redeemed or repurchased
during any prior fiscal year ending no earlier than
October 11, 1995 that were not previously used to 
reduce registration fees payable to the Commission:

$ 

  (iv) Total available redemption credits [add items 5(ii)
and 5(iii)]:

- - $8,387,774

  (v) Net sales - if Item 5(i) is greater than Item 5(iv) [subtract
Item 5(iv) from Item 5(i)]:

$ 0.00

  (vi) Redemption credits available for use in future
years - if Item 5(i) is less than Item 5(iv) [subtract
Item 5(iv) from Item 5(i)]:
(4,121,906)

  (vii) Multiplier for determining registration fee:

 .000295

  (viii) Registration fee due [Multiply Item 5(v) by Item 
5(vii)] (Enter "0" if no fee is due):

$ 0.00

6.  Prepaid Shares
If the response to Item 5(i) was determined by deducting an 
amount of securities that were registered under the 
Securities Act of 1933 pursuant to rule 24e-2 as in 
effect before October 11, 1997, then report the 
amount of securities (number of shares or other units) 
deducted here: 447,566.  If there is a number of shares 
or other units that were registered pursuant to rule 
24e-2 remaining unsold at the end of the fiscal year 
for which this form is filed that are available for use 
by the issuer in future fiscal years, then state that 
number here: ____.

7.  Interest due - if this Form is being filed more than 
90 days after the end of the issuer's fiscal year (see Instruction D):

+ $

8.  Total of the amount of the registration fee due plus 
any interest due [line 5(viii) plus line 7]:
 = $0.00

NUVEEN FLAGSHIP LIMITED TERM MUNICIPAL BOND FUND, Classes A, C & R

5.  Calculation of registration fee:
  (i) Aggregate sale price of securities sold during the 
fiscal year pursuant to section 24(f):

$58,644,609

  (ii) Aggregate price of securities redeemed or repurchased
during the fiscal year: 

$100,696,272

  (iii) Aggregate price of securities redeemed or repurchased
during any prior fiscal year ending no earlier than
October 11, 1995 that were not previously used to 
reduce registration fees payable to the Commission:

$ 

  (iv) Total available redemption credits [add items 5(ii)
and 5(iii)]:

- - $100,696,272

  (v) Net sales - if Item 5(i) is greater than Item 5(iv) [subtract
Item 5(iv) from Item 5(i)]:

$ 0.00

  (vi) Redemption credits available for use in future
years - if Item 5(i) is less than Item 5(iv) [subtract
Item 5(iv) from Item 5(i)]:

(42,051,663)

  (vii) Multiplier for determining registration fee:

 .000295

  (viii) Registration fee due [Multiply Item 5(v) by Item 
5(vii)] (Enter "0" if no fee is due):

$ 0.00

6.  Prepaid Shares
If the response to Item 5(i) was determined by deducting an 
amount of securities that were registered under the 
Securities Act of 1933 pursuant to rule 24e-2 as in 
effect before October 11, 1997, then report the 
amount of securities (number of shares or other units) 
deducted here:  5,210,210.  If there is a number of shares 
or other units that were registered pursuant to rule 
24e-2 remaining unsold at the end of the fiscal year 
for which this form is filed that are available for use 
by the issuer in future fiscal years, then state that 
number here: ____.

7.  Interest due - if this Form is being filed more than 
90 days after the end of the issuer's fiscal year (see Instruction D):

+ $

8.  Total of the amount of the registration fee due plus 
any interest due [line 5(viii) plus line 7]:
 = $ 0.00

9.  Date the registration fee and any interest payment was sent 
to the Commission's lockbox depository: July 27, 1998

Method of Delivery:  Wire Transfer

SIGNATURES

This report has been signed below by the following persons on 
behalf of the issuer and in the capacities and on the 
dates indicated.



  By:     
        Gifford R. Zimmerman
        Vice President and Secretary

Dated:   July 28, 1998



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