COMPOSITE TAX EXEMPT BOND FUND INC
NSAR-B, 1997-02-25
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<PAGE>      PAGE  1
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SIGNATURE   JOHN T WEST                                  
TITLE       SECRETARY           
 


<TABLE> <S> <C>
                                               
<ARTICLE>                                           6
<LEGEND>                                             
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
REGISTRANT'S ANNUAL REPORT AND FORM N-SAR WHICH ARE ON FILE WITH THE 
SECURITIES AND EXCHANGE COMMISSION AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH DOCUMENTS. 
</LEGEND>                                            
<CIK>                                       0000201507
<NAME>                                      Composite Tax-Exempt Bond Fund, Inc.
<SERIES>                                             
   <NUMBER>                                 001
    <NAME>                                  Class A
                                           
<S>                                                 <C>
<PERIOD-TYPE>                                       YEAR
<FISCAL-YEAR-END>                                   DEC-31-1996
<PERIOD-START>                                      JAN-01-1996
<PERIOD-END>                                        DEC-31-1996
<INVESTMENTS-AT-COST>                                               194,771,193
<INVESTMENTS-AT-VALUE>                                              209,689,056
<RECEIVABLES>                                                         3,271,070
<ASSETS-OTHER>                                                            9,796
<OTHER-ITEMS-ASSETS>                                                     31,177
<TOTAL-ASSETS>                                                      212,991,303
<PAYABLE-FOR-SECURITIES>                                                      0
<SENIOR-LONG-TERM-DEBT>                                                       0
<OTHER-ITEMS-LIABILITIES>                                               324,320
<TOTAL-LIABILITIES>                                                   4,119,520
<SENIOR-EQUITY>                                                               0
<PAID-IN-CAPITAL-COMMON>                                            195,945,367
<SHARES-COMMON-STOCK>                                                26,002,410
<SHARES-COMMON-PRIOR>                                                28,701,818
<ACCUMULATED-NII-CURRENT>                                                     0
<OVERDISTRIBUTION-NII>                                                        0
<ACCUMULATED-NET-GAINS>                                              (1,991,447)
<OVERDISTRIBUTION-GAINS>                                                      0
<ACCUM-APPREC-OR-DEPREC>                                             14,917,863
<NET-ASSETS>                                                        203,606,240
<DIVIDEND-INCOME>                                                             0
<INTEREST-INCOME>                                                    12,265,409
<OTHER-INCOME>                                                                0
<EXPENSES-NET>                                                        1,656,757
<NET-INVESTMENT-INCOME>                                              10,608,652
<REALIZED-GAINS-CURRENT>                                             (1,336,656)
<APPREC-INCREASE-CURRENT>                                            (4,335,561)
<NET-CHANGE-FROM-OPS>                                                 4,936,435
<EQUALIZATION>                                                                0
<DISTRIBUTIONS-OF-INCOME>                                           (10,445,418)
<DISTRIBUTIONS-OF-GAINS>                                                      0
<DISTRIBUTIONS-OTHER>                                                         0
<NUMBER-OF-SHARES-SOLD>                                               1,460,406
<NUMBER-OF-SHARES-REDEEMED>                                          (5,197,278)
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<NET-CHANGE-IN-ASSETS>                                              (23,864,979)
<ACCUMULATED-NII-PRIOR>                                                       0
<ACCUMULATED-GAINS-PRIOR>                                              (654,791)
<OVERDISTRIB-NII-PRIOR>                                                       0
<OVERDIST-NET-GAINS-PRIOR>                                                    0
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<INTEREST-EXPENSE>                                                            0
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<PER-SHARE-NAV-BEGIN>                                                      8.02
<PER-SHARE-NII>                                                            0.38
<PER-SHARE-GAIN-APPREC>                                                   (0.19)
<PER-SHARE-DIVIDEND>                                                      (0.38)
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<RETURNS-OF-CAPITAL>                                                       0.00
<PER-SHARE-NAV-END>                                                        7.83
<EXPENSE-RATIO>                                                            0.75
<AVG-DEBT-OUTSTANDING>                                                        0
<AVG-DEBT-PER-SHARE>                                                       0.00
        

</TABLE>

<TABLE> <S> <C>
                                               
<ARTICLE>                                           6
<LEGEND>                                             
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
REGISTRANT'S ANNUAL REPORT AND FORM N-SAR WHICH ARE ON FILE WITH THE 
SECURITIES AND EXCHANGE COMMISSION AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH DOCUMENTS.  
</LEGEND>                                            
<CIK>                                       0000201507
<NAME>                                      Composite Tax-Exempt Bond Fund, Inc.
<SERIES>                                             
   <NUMBER>                                 002
   <NAME>                                   Class B
       
<S>                                                 <C>
<PERIOD-TYPE>                                       YEAR
<FISCAL-YEAR-END>                                   DEC-31-1996
<PERIOD-START>                                      JAN-01-1996
<PERIOD-END>                                        DEC-31-1996
<INVESTMENTS-AT-COST>                                               194,771,193
<INVESTMENTS-AT-VALUE>                                              209,689,056
<RECEIVABLES>                                                         3,271,070
<ASSETS-OTHER>                                                            9,796
<OTHER-ITEMS-ASSETS>                                                     31,177
<TOTAL-ASSETS>                                                      212,991,303
<PAYABLE-FOR-SECURITIES>                                                      0
<SENIOR-LONG-TERM-DEBT>                                                       0
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<TOTAL-LIABILITIES>                                                   4,119,520
<SENIOR-EQUITY>                                                               0
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<SHARES-COMMON-PRIOR>                                                   334,540
<ACCUMULATED-NII-CURRENT>                                                     0
<OVERDISTRIBUTION-NII>                                                        0
<ACCUMULATED-NET-GAINS>                                              (1,991,447)
<OVERDISTRIBUTION-GAINS>                                                      0
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<NET-ASSETS>                                                          5,265,543
<DIVIDEND-INCOME>                                                             0
<INTEREST-INCOME>                                                    12,265,409
<OTHER-INCOME>                                                                0
<EXPENSES-NET>                                                        1,656,757
<NET-INVESTMENT-INCOME>                                              10,608,652
<REALIZED-GAINS-CURRENT>                                             (1,336,656)
<APPREC-INCREASE-CURRENT>                                            (4,335,561)
<NET-CHANGE-FROM-OPS>                                                 4,936,435
<EQUALIZATION>                                                                0
<DISTRIBUTIONS-OF-INCOME>                                              (163,235)
<DISTRIBUTIONS-OF-GAINS>                                                      0
<DISTRIBUTIONS-OTHER>                                                         0
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<NUMBER-OF-SHARES-REDEEMED>                                             (79,060)
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<ACCUMULATED-NII-PRIOR>                                                       0
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<OVERDISTRIB-NII-PRIOR>                                                       0
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<INTEREST-EXPENSE>                                                            0
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<PER-SHARE-NAV-BEGIN>                                                      8.02
<PER-SHARE-NII>                                                            0.31
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<PER-SHARE-DIVIDEND>                                                      (0.31)
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<RETURNS-OF-CAPITAL>                                                       0.00
<PER-SHARE-NAV-END>                                                        7.83
<EXPENSE-RATIO>                                                            1.61
<AVG-DEBT-OUTSTANDING>                                                        0
<AVG-DEBT-PER-SHARE>                                                       0.00
        

</TABLE>


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