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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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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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008 A000501 THIRD MILLENNIUM INVESTMENT ADVISORS LLC
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008 D010501 NEW YORK
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015 A000501 BROWN BROTHERS HARRIMAN & CO
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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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SIGNATURE JOHN PASCO, III
TITLE CHAIRMAN
[ARTICLE] 6
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] AUG-31-1998
[PERIOD-END] FEB-28-1999
[INVESTMENTS-AT-COST] 8576202
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</TABLE>
[ARTICLE] 6
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
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[PERIOD-END] FEB-28-1999
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[NET-INVESTMENT-INCOME] (96899)
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</TABLE>
[ARTICLE] 6
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
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[PERIOD-END] FEB-28-1999
[INVESTMENTS-AT-COST] 42492363
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[RECEIVABLES] 2152534
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[ACCUM-APPREC-OR-DEPREC] (104858)
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</TABLE>
[ARTICLE] 6
<TABLE>
<S> <C>
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[ACCUM-APPREC-OR-DEPREC] 69994
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[EXPENSES-NET] 9552
[NET-INVESTMENT-INCOME] (1898)
[REALIZED-GAINS-CURRENT] 0
[APPREC-INCREASE-CURRENT] 69994
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[EQUALIZATION] 0
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[NUMBER-OF-SHARES-SOLD] 178293
[NUMBER-OF-SHARES-REDEEMED] 45
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[NET-CHANGE-IN-ASSETS] 2022101
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</TABLE>
[ARTICLE] 6
<TABLE>
<S> <C>
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[NET-INVESTMENT-INCOME] (1499)
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</TABLE>
