<PAGE> PAGE 1
000 B000000 08/31/97
000 C000000 0000276242
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 VKAC HIGH INCOME CORPORATE BOND FUND
001 B000000 811-02851
001 C000000 6306846000
002 A000000 ONE PARKVIEW PLAZA
002 B000000 OAKBROOK TERRACE
002 C000000 IL
002 D010000 60181
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 VAN KAMPEN AMERICAN CAPITAL ASSET MGT., INC.
008 B000001 A
008 C000001 801-8286
008 D010001 OAKBROOK TERRACE
008 D020001 IL
008 D030001 60181
011 A000001 VAN KAMPEN AMERICAN CAPITAL DISTRIBUTORS, INC
011 B000001 8-19903
011 C010001 OAKBROOK TERRACE
011 C020001 IL
011 C030001 60181
012 A000001 ACCESS INVESTOR SERVICES, INC.
012 B000001 84-01621
012 C010001 KANSAS CITY
012 C020001 MO
012 C030001 64141
012 C040001 9256
013 A000001 PRICE WATERHOUSE LLP
013 B010001 HOUSTON
<PAGE> PAGE 2
013 B020001 TX
013 B030001 77002
014 A000001 Morgan Stanley & Co., Incorporated
014 B000001 8-
014 A000002 Dean Witter Reynolds, Inc.
014 B000002 8-
015 A000001 STATE STREET BANK & TRUST CO.
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02110
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 102
019 C000000 VANKAMPENA
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 BA SECURITIES
022 B000001 95-4035346
022 C000001 1908839
022 D000001 0
022 A000002 LEHMAN BROTHERS
022 B000002 13-2518466
022 C000002 1798984
022 D000002 12528
022 A000003 DONALDSON LUFKIN JENNRETTE
022 B000003 13-2741729
022 C000003 1106658
022 D000003 22620
022 A000004 SBC WARBURG
022 B000004 13-3498485
022 C000004 1121655
022 D000004 0
022 A000005 PRUDENTIAL SECURITIES
022 B000005 22-2347336
022 C000005 660599
022 D000005 14996
022 A000006 STATE STREET BANK & TRUST
022 B000006 04-1867445
022 C000006 594240
022 D000006 0
<PAGE> PAGE 3
022 A000007 J.P. MORGAN
022 B000007 13-3224016
022 C000007 55625
022 D000007 30019
022 A000008 HONG KONG SHANGHAI (HSBC)
022 B000008 13-2650272
022 C000008 79543
022 D000008 0
022 A000009 BEAR STEARNS
022 B000009 13-3299429
022 C000009 43523
022 D000009 28386
022 A000010 GOLDMAN SACHS
022 B000010 13-5108880
022 C000010 27556
022 D000010 31005
023 C000000 7772406
023 D000000 434078
024 000000 N
025 A000001 DELETE
025 D000001 0
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 Y
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A010000 23853
028 A020000 2588
028 A030000 0
028 A040000 31020
028 B010000 41912
028 B020000 2808
028 B030000 0
028 B040000 31170
028 C010000 34983
028 C020000 2834
028 C030000 0
028 C040000 22561
028 D010000 30494
<PAGE> PAGE 4
028 D020000 2916
028 D030000 0
028 D040000 8050
028 E010000 21196
028 E020000 2957
028 E030000 0
028 E040000 18785
028 F010000 24685
028 F020000 2901
028 F030000 0
028 F040000 27608
028 G010000 177123
028 G020000 17004
028 G030000 0
028 G040000 139194
028 H000000 27807
029 000000 Y
030 A000000 1398
030 B000000 4.75
030 C000000 0.00
031 A000000 157
031 B000000 0
032 000000 1241
033 000000 0
034 000000 Y
035 000000 343
036 A000000 N
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 Y
041 000000 Y
042 A000000 0
042 B000000 0
042 C000000 100
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 1386
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.000
048 A010000 150000
048 A020000 0.625
048 B010000 150000
048 B020000 0.550
<PAGE> PAGE 5
048 C010000 0
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 300000
048 K020000 0.500
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 N
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 Y
054 H000000 N
054 I000000 Y
054 J000000 N
054 K000000 N
054 L000000 N
054 M000000 Y
054 N000000 N
054 O000000 Y
055 A000000 N
055 B000000 N
056 000000 N
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 500
062 A000000 Y
062 B000000 0.0
062 C000000 0.00
062 D000000 6.6
<PAGE> PAGE 6
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 85.4
062 Q000000 1.9
062 R000000 3.1
063 A000000 0
063 B000000 7.3
064 A000000 N
064 B000000 N
066 A000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 Y
070 B010000 N
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 N
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 Y
070 K010000 N
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 N
070 N010000 Y
070 N020000 N
<PAGE> PAGE 7
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 241276
071 B000000 152384
071 C000000 546769
071 D000000 28
072 A000000 12
072 B000000 62628
072 C000000 1559
072 D000000 0
072 E000000 1046
072 F000000 3378
072 G000000 0
072 H000000 0
072 I000000 1313
072 J000000 0
072 K000000 0
072 L000000 122
072 M000000 18
072 N000000 79
072 O000000 0
072 P000000 0
072 Q000000 99
072 R000000 40
072 S000000 41
072 T000000 2760
072 U000000 0
072 V000000 0
072 W000000 271
072 X000000 8121
072 Y000000 6
072 Z000000 57118
072AA000000 10679
072BB000000 0
072CC010000 14770
072CC020000 0
072DD010000 43010
072DD020000 13730
072EE000000 0
073 A010000 .621
073 A020000 .573
073 B000000 0.0000
073 C000000 0.0000
074 A000000 0
074 B000000 45895
<PAGE> PAGE 8
074 C000000 0
074 D000000 609378
074 E000000 20390
074 F000000 387
074 G000000 0
074 H000000 0
074 I000000 731
074 J000000 22099
074 K000000 0
074 L000000 16523
074 M000000 10
074 N000000 715413
074 O000000 13360
074 P000000 781
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 3868
074 S000000 0
074 T000000 697404
074 U010000 71561
074 U020000 30191
074 V010000 6.55
074 V020000 6.56
074 W000000 0.0000
074 X000000 39333
074 Y000000 0
075 A000000 0
075 B000000 623957
076 000000 0.00
077 A000000 Y
077 B000000 Y
077 C000000 Y
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 N
077 Q020000 N
077 Q030000 N
078 000000 N
<PAGE> PAGE 9
080 A000000 ICI Mutual Insurance Co.
080 C000000 65000
081 A000000 Y
081 B000000 102
082 A000000 Y
082 B000000 100
083 B000000 0
084 B000000 0
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
450 Fifth S reet, N.W.
SIGNATURE DENNIS J MCDONNELL
TITLE PRES, CEO & TRUSTEE
Price Waterhouse LLP
October 10, 1997
To the Shareholders and Board of Trustees of the Van Kampen American Capital
High Income Corporate Bond Fund
In planning and performing our audit of the financial statements of the Van
Kampen American Capital High Income Corporate Bond Fund (the "Fund" ) for the
year ended August 31, 1997, we considered its internal control, including
control activities for safeguarding securities, in order to determine our
auditing procedures for the purpose of expressing our opinion on the financial
statements and to comply with the requirements of Form N-SAR, not to provide
assurance on internal control.
The management of the Fund is responsible for establishing and maintaining
internal control. In fulfilling this responsibility, estimates and judgements
by management are required to assess the expected benefits and related costs
of control activities. Generally, control activities that are relevant to an
audit pertain to the entity's objective of preparing financial statement for
external purposes that are fairly presented in conformity with generally
accepted accounting principals. Those control activities include the
safeguarding of assets against unauthorized acquisition, use or disposition.
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 the 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 components does 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 and not be
detected within a timely period by employees in the normal course of
performing their assigned functions. However, we noted no matters involving
internal control, including control activities for safeguarding securities,
that we consider to be material weaknesses as defined above as of August 31,
1997.
This report is intended solely for the information and use of management and
the Board of Trustees of the Fund and the Securities and Exchange Commission.
Price Waterhouse LLP
NSAR ITEM 77C
Van Kampen American Capital High Income Corporate Bond Fund
(a) A Special Meeting of Shareholders was held on October 25, 1996.
(b) The election of Trustees of Van Kampen American Capital High Income
Corporate Bond Fund (the "Fund") included:
None
(c) The following were voted on at the meeting:
1) Approval of New Investment Advisory Agreement in the event of a
change of control of the Adviser.
For 56,523,388 Against 959,069
2) Approval of changes to Fundamental Investment Policies with
respect to investments in other investment companies.
For 47,302,536 Against 1,448,773
4) For each AC Fund, to Ratify the Selection of Price Waterhouse
LLP Independent Public Accountants for its Current Fiscal Year.
For 57,068,831 Against 546,953
NSAR ITEM 77C
Van Kampen American Capital High Income Corporate Bond Fund
(a) A Special Meeting of Shareholders was held on May 28, 1997.
(b) The election of Trustees of Van Kampen American Capital High
Income Corporate Bond Fund (the "Fund") included:
J. Miles Branagan, Richard M. DeMartini, Linda Hutton Heagy,
R. Craig Kennedy, Jack E. Nelson, Jerome L. Robinson, Phillip B.
Rooney, Fernando Sisto and Wayne W. Whalen
(c) The following were voted on at the meeting:
1) Approval of New Investment Advisory Agreement in the event of a
change of control of the Adviser.
For 66,740,228 Against 926,985
2) Approval of changes to Fundamental Investment Policies with
respect to unseasoned issuers.
For 52,638,857 Against 2,047,418
Approval of changes to Fundamental Investment Policies with
respect to diversification.
For 53,322,746 Against 1,545,601
Approval of changes to Fundamental Investment Policies with
respect to foreign securities.
For 52,468,581 Against 2,168,053
4) For each AC Fund, to Ratify the Selection of Price Waterhouse
LLP Independent Public Accountants for its Current Fiscal Year.
For 67,319,045 Against 486,903
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 11
<NAME> High Income Corporate Bond Class A
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> AUG-31-1997
<INVESTMENTS-AT-COST> 650548034<F1>
<INVESTMENTS-AT-VALUE> 676780547<F1>
<RECEIVABLES> 38622192<F1>
<ASSETS-OTHER> 10323<F1>
<OTHER-ITEMS-ASSETS> 0<F1>
<TOTAL-ASSETS> 715413062<F1>
<PAYABLE-FOR-SECURITIES> 13359934<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 4648723<F1>
<TOTAL-LIABILITIES> 18008657<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 683246374
<SHARES-COMMON-STOCK> 71561449
<SHARES-COMMON-PRIOR> 66908746
<ACCUMULATED-NII-CURRENT> 2861864<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (224580994)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 26232513<F1>
<NET-ASSETS> 468606618
<DIVIDEND-INCOME> 1558788<F1>
<INTEREST-INCOME> 62627973<F1>
<OTHER-INCOME> 1046307<F1>
<EXPENSES-NET> (8114889)<F1>
<NET-INVESTMENT-INCOME> 57118179<F1>
<REALIZED-GAINS-CURRENT> 10679453<F1>
<APPREC-INCREASE-CURRENT> 14770464<F1>
<NET-CHANGE-FROM-OPS> 82568096<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (43009717)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 25421874
<NUMBER-OF-SHARES-REDEEMED> (24797705)
<SHARES-REINVESTED> 4028534
<NET-CHANGE-IN-ASSETS> 47234732
<ACCUMULATED-NII-PRIOR> 2475568<F1>
<ACCUMULATED-GAINS-PRIOR> (268584737)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 3377516<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 8114889<F1>
<AVERAGE-NET-ASSETS> 448046814
<PER-SHARE-NAV-BEGIN> 6.298
<PER-SHARE-NII> 0.604
<PER-SHARE-GAIN-APPREC> 0.267
<PER-SHARE-DIVIDEND> (0.621)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 6.548
<EXPENSE-RATIO> 1.08
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 12
<NAME> High Income Corporate Bond Class B
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> AUG-31-1997
<INVESTMENTS-AT-COST> 650548034<F1>
<INVESTMENTS-AT-VALUE> 676780547<F1>
<RECEIVABLES> 38622192<F1>
<ASSETS-OTHER> 10323<F1>
<OTHER-ITEMS-ASSETS> 0<F1>
<TOTAL-ASSETS> 715413062<F1>
<PAYABLE-FOR-SECURITIES> 13359934<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 4648723<F1>
<TOTAL-LIABILITIES> 18008657<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 180564075
<SHARES-COMMON-STOCK> 30191498
<SHARES-COMMON-PRIOR> 18157996
<ACCUMULATED-NII-CURRENT> 2861864<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (224580994)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 26232513<F1>
<NET-ASSETS> 198001284
<DIVIDEND-INCOME> 1558788<F1>
<INTEREST-INCOME> 62627973<F1>
<OTHER-INCOME> 1046307<F1>
<EXPENSES-NET> (8114889)<F1>
<NET-INVESTMENT-INCOME> 57118179<F1>
<REALIZED-GAINS-CURRENT> 10679453<F1>
<APPREC-INCREASE-CURRENT> 14770464<F1>
<NET-CHANGE-FROM-OPS> 82568096<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (13729638)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 16738565
<NUMBER-OF-SHARES-REDEEMED> (5774518)
<SHARES-REINVESTED> 1069455
<NET-CHANGE-IN-ASSETS> 83429381
<ACCUMULATED-NII-PRIOR> 2475568<F1>
<ACCUMULATED-GAINS-PRIOR> (268584737)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 3377516<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 8114889<F1>
<AVERAGE-NET-ASSETS> 153856244
<PER-SHARE-NAV-BEGIN> 6.310
<PER-SHARE-NII> 0.559
<PER-SHARE-GAIN-APPREC> 0.262
<PER-SHARE-DIVIDEND> (0.573)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 6.558
<EXPENSE-RATIO> 1.86
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 13
<NAME> High Income Corporate Bond Class C
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> AUG-31-1997
<INVESTMENTS-AT-COST> 650548034<F1>
<INVESTMENTS-AT-VALUE> 676780547<F1>
<RECEIVABLES> 38622192<F1>
<ASSETS-OTHER> 10323<F1>
<OTHER-ITEMS-ASSETS> 0<F1>
<TOTAL-ASSETS> 715413062<F1>
<PAYABLE-FOR-SECURITIES> 13359934<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 4648723<F1>
<TOTAL-LIABILITIES> 18008657<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 29080573
<SHARES-COMMON-STOCK> 4717323
<SHARES-COMMON-PRIOR> 2780202
<ACCUMULATED-NII-CURRENT> 2861864<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (224580994)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 26232513<F1>
<NET-ASSETS> 30796503
<DIVIDEND-INCOME> 1558788<F1>
<INTEREST-INCOME> 62627973<F1>
<OTHER-INCOME> 1046307<F1>
<EXPENSES-NET> (8114889)<F1>
<NET-INVESTMENT-INCOME> 57118179<F1>
<REALIZED-GAINS-CURRENT> 10679453<F1>
<APPREC-INCREASE-CURRENT> 14770464<F1>
<NET-CHANGE-FROM-OPS> 82568096<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (1962490)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2815626
<NUMBER-OF-SHARES-REDEEMED> (1052510)
<SHARES-REINVESTED> 174005
<NET-CHANGE-IN-ASSETS> 13326779
<ACCUMULATED-NII-PRIOR> 2475568<F1>
<ACCUMULATED-GAINS-PRIOR> (268584737)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 3377516<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 8114889<F1>
<AVERAGE-NET-ASSETS> 22053792
<PER-SHARE-NAV-BEGIN> 6.284
<PER-SHARE-NII> 0.561
<PER-SHARE-GAIN-APPREC> 0.256
<PER-SHARE-DIVIDEND> (0.573)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 6.528
<EXPENSE-RATIO> 1.86
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
