FIRST INVESTORS SPECIAL BOND FUND INC
NSAR-B, 1998-02-25
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<PAGE>      PAGE  1
000 B000000 12/31/97
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<PAGE>      PAGE  2
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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  9
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SIGNATURE   JOSEPH I. BENEDEK                            
TITLE       TREASURER           
 


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<NAME> FIRST INVESTORS SPECIAL BOND FUND, INC.
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<PER-SHARE-DIVIDEND>                           (1.200)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.89
<EXPENSE-RATIO>                                    .86
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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