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<PAGE> PAGE 2
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<PAGE> PAGE 3
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SIGNATURE NICK DALMASO
TITLE ATTORNEY
To the Shareholders and
Board of Trustees of
the Van Kampen Enterprise Fund
In planning and performing our audit of the financial statements of Van Kampen
Enterprise Fund (the "Fund") for the year ended December 31, 1998, 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 judgments 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 statements for external
purposes that are fairly presented in conformity with generally accepted
accounting principles. 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 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 December 31, 1998.
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.
PRICEWATERHOUSECOOPERS LLP
Chicago, Illinois
February 1, 1999
<TABLE>
<CAPTION>
NSAR ITEM 77O
VK Enterprise Fund
10f-3 Transactions
Underwriting # Underwriting Purchased From Amount of shares % of Date of
Purchased Underwriting Purchase
<S> <C> <C> <C> <C> <C>
1 Republic Services, Inc. Merrill Lynch 315,300 0.618% 06/30/98
S.C. Bernstein
First Analysis
2 Fox Entertainment Group Inc. Merrill Lynch 220,600 0.177% 11/10/98
Allen & Co.
Goldman Sachs
Raymond James
JP Morgan
Gerard Klauer
</TABLE>
Other Firms participating in Underwriting:
Underwriting for #1
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Deutsche Bank Securities Inc.
Donaldson, Lufkin & Jenrette Securities Corporation
Allen & Company Incorporated
ABN AMRO Incorporated
BT Alex. Brown Incorporated
BancAmerica Robertson Stephens
Bear, Stearns & Co. Inc
Sanford C. Bernstein & Co., Inc.
Blaylock & Partners, LP
Chatfield Dean & Company
CIBC Oppenheimer Corp.
Cleary Gull Reiland & McDevitt Inc.
First Analysis Securities Corporation
Fox-Pitt, Kelton Inc.
Furman Selz LLC
Gabelli & company, Inc.
Underwriting for #1 (con't)
Goldman, Sachs & Co.
Morgan Stanley & Co. Incorporated
NationsBanc Montgomery Securities LLC
Neuberger & Berman, LLC
PaineWebber Incorporated
Raymond James & Associates, Inc.
Smith Barney Inc.
Utendahl Capital Partners, LP
Wheat First Securities, Inc.
<PAGE>
Underwriting for #2
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Allen & Company Incorporated
Goldman, Sachs & Co.
Morgan Stanley & Co. Incorporated
Bear, Stearns & Co. Inc.
Donaldson, Lufkin & Jenrette Securities Corporation
JP Morgan Securities Inc.
NationsBanc Montgomery Securities LLC
Salomon Smith Barney Inc.
ABN AMRO Incorporated
BT Alex. Brown Incorporated
Credit Lyonnais Securities (USA) Inc.
Credit Suisse First Boston Corporation
AG Edwards & Sons, Inc
ING Barings Furman Selz LLC
Lazard Freres & Co. LLC
Lehman Brothers Inc.
PaineWebber Incorporated
Prudential Securities Incorporated
Schroder & Co. Inc.
TD Securitieies (USA) Inc.
Warburg Dillion Read LLC
Wasserstein Perella Securities, Inc.
Sanford C. Bernstein & Co. Inc.
Underwriting for #2 (con't)
Blaylock & Partners, LP
Chatsworth Securities LLC
Crowell, Weedon & Co.
Dain Rauscher Incorporated
Doley Securities, Inc.
Gerard Klauer Mattison & Co., Inc.
Guzman & Company
Interstate/Johnson Lane Corporation
Janney Montgomery Scott Inc.
Legg Mason Wood Walker, Incorporated
May, Davis Group Inc.
Neuberger Breman, LLC
Pryor, McClendon, Counts & co.
Raymond James & Associates, Inc.
The Robinson-Humphrey Company, LLC
Sands Brothers & Co., Ltd.
Tucker Anthony Incorporated
Utendahl Capital Partners, LPO
Wheat First Securities, Inc.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
<F1> This item relates to the Fund on a composite
basis and not on a class basis
</LEGEND>
<SERIES>
<NUMBER> 11
<NAME> ENTERPRISE CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 2,012,629,414 <F1>
<INVESTMENTS-AT-VALUE> 3,071,511,342 <F1>
<RECEIVABLES> 50,653,518 <F1>
<ASSETS-OTHER> 0 <F1>
<OTHER-ITEMS-ASSETS> 174,436 <F1>
<TOTAL-ASSETS> 3,122,339,296 <F1>
<PAYABLE-FOR-SECURITIES> 20,703,160 <F1>
<SENIOR-LONG-TERM-DEBT> 0 <F1>
<OTHER-ITEMS-LIABILITIES> 61,865,744 <F1>
<TOTAL-LIABILITIES> 82,568,904 <F1>
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,247,993,551
<SHARES-COMMON-STOCK> 103,600,863
<SHARES-COMMON-PRIOR> 97,969,116
<ACCUMULATED-NII-CURRENT> 39,771 <F1>
<OVERDISTRIBUTION-NII> 0 <F1>
<ACCUMULATED-NET-GAINS> 43,505,364 <F1>
<OVERDISTRIBUTION-GAINS> 0 <F1>
<ACCUM-APPREC-OR-DEPREC> 1,058,881,928 <F1>
<NET-ASSETS> 2,137,440,589
<DIVIDEND-INCOME> 20,697,079 <F1>
<INTEREST-INCOME> 12,219,965 <F1>
<OTHER-INCOME> 0 <F1>
<EXPENSES-NET> (30,517,112)<F1>
<NET-INVESTMENT-INCOME> 2,399,932 <F1>
<REALIZED-GAINS-CURRENT> 134,279,558 <F1>
<APPREC-INCREASE-CURRENT> 443,358,417 <F1>
<NET-CHANGE-FROM-OPS> 580,037,907 <F1>
<EQUALIZATION> 0 <F1>
<DISTRIBUTIONS-OF-INCOME> (4,405,387)
<DISTRIBUTIONS-OF-GAINS> (75,906,906)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 232,030,934
<NUMBER-OF-SHARES-REDEEMED> (230,130,328)
<SHARES-REINVESTED> 3,731,141
<NET-CHANGE-IN-ASSETS> 431,385,852
<ACCUMULATED-NII-PRIOR> 2,045,226 <F1>
<ACCUMULATED-GAINS-PRIOR> 17,873,144 <F1>
<OVERDISTRIB-NII-PRIOR> 0 <F1>
<OVERDIST-NET-GAINS-PRIOR> 0 <F1>
<GROSS-ADVISORY-FEES> 11,985,183 <F1>
<INTEREST-EXPENSE> 0 <F1>
<GROSS-EXPENSE> 30,517,112 <F1>
<AVERAGE-NET-ASSETS> 1,875,539,428
<PER-SHARE-NAV-BEGIN> 17.414
<PER-SHARE-NII> 0.058
<PER-SHARE-GAIN-APPREC> 3.980
<PER-SHARE-DIVIDEND> (0.045)
<PER-SHARE-DISTRIBUTIONS> (0.776)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 20.631
<EXPENSE-RATIO> 0.94
<AVG-DEBT-OUTSTANDING> 0 <F1>
<AVG-DEBT-PER-SHARE> 0 <F1>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
<F1> This item relates to the Fund on a composite
basis and not on a class basis
</LEGEND>
<SERIES>
<NUMBER> 12
<NAME> ENTERPRISE CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 2,012,629,414 <F1>
<INVESTMENTS-AT-VALUE> 3,071,511,342 <F1>
<RECEIVABLES> 50,653,518 <F1>
<ASSETS-OTHER> 0 <F1>
<OTHER-ITEMS-ASSETS> 174,436 <F1>
<TOTAL-ASSETS> 3,122,339,296 <F1>
<PAYABLE-FOR-SECURITIES> 20,703,160 <F1>
<SENIOR-LONG-TERM-DEBT> 0 <F1>
<OTHER-ITEMS-LIABILITIES> 61,865,744 <F1>
<TOTAL-LIABILITIES> 82,568,904 <F1>
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 622,683,389
<SHARES-COMMON-STOCK> 40,662,436
<SHARES-COMMON-PRIOR> 31,783,576
<ACCUMULATED-NII-CURRENT> 39,771 <F1>
<OVERDISTRIBUTION-NII> 0 <F1>
<ACCUMULATED-NET-GAINS> 43,505,364 <F1>
<OVERDISTRIBUTION-GAINS> 0 <F1>
<ACCUM-APPREC-OR-DEPREC> 1,058,881,928 <F1>
<NET-ASSETS> 816,299,436
<DIVIDEND-INCOME> 20,697,079 <F1>
<INTEREST-INCOME> 12,219,965 <F1>
<OTHER-INCOME> 0 <F1>
<EXPENSES-NET> (30,517,112)<F1>
<NET-INVESTMENT-INCOME> 2,399,932 <F1>
<REALIZED-GAINS-CURRENT> 134,279,558 <F1>
<APPREC-INCREASE-CURRENT> 443,358,417 <F1>
<NET-CHANGE-FROM-OPS> 580,037,907 <F1>
<EQUALIZATION> 0 <F1>
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (29,616,587)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 46,624,437
<NUMBER-OF-SHARES-REDEEMED> (39,259,659)
<SHARES-REINVESTED> 1,514,082
<NET-CHANGE-IN-ASSETS> 274,114,239
<ACCUMULATED-NII-PRIOR> 2,045,226 <F1>
<ACCUMULATED-GAINS-PRIOR> 17,873,144 <F1>
<OVERDISTRIB-NII-PRIOR> 0 <F1>
<OVERDIST-NET-GAINS-PRIOR> 0 <F1>
<GROSS-ADVISORY-FEES> 11,985,183 <F1>
<INTEREST-EXPENSE> 0 <F1>
<GROSS-EXPENSE> 30,517,112 <F1>
<AVERAGE-NET-ASSETS> 672,144,318
<PER-SHARE-NAV-BEGIN> 17.059
<PER-SHARE-NII> (0.089)
<PER-SHARE-GAIN-APPREC> 3.881
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> (0.776)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 20.075
<EXPENSE-RATIO> 1.74
<AVG-DEBT-OUTSTANDING> 0 <F1>
<AVG-DEBT-PER-SHARE> 0 <F1>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
<F1> This item relates to the Fund on a composite
basis and not on a class basis
</LEGEND>
<SERIES>
<NUMBER> 13
<NAME> ENTERPRISE CLASS C
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 2,012,629,414 <F1>
<INVESTMENTS-AT-VALUE> 3,071,511,342 <F1>
<RECEIVABLES> 50,653,518 <F1>
<ASSETS-OTHER> 0 <F1>
<OTHER-ITEMS-ASSETS> 174,436 <F1>
<TOTAL-ASSETS> 3,122,339,296 <F1>
<PAYABLE-FOR-SECURITIES> 20,703,160 <F1>
<SENIOR-LONG-TERM-DEBT> 0 <F1>
<OTHER-ITEMS-LIABILITIES> 61,865,744 <F1>
<TOTAL-LIABILITIES> 82,568,904 <F1>
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 66,666,389
<SHARES-COMMON-STOCK> 4,250,624
<SHARES-COMMON-PRIOR> 3,310,265
<ACCUMULATED-NII-CURRENT> 39,771 <F1>
<OVERDISTRIBUTION-NII> 0 <F1>
<ACCUMULATED-NET-GAINS> 43,505,364 <F1>
<OVERDISTRIBUTION-GAINS> 0 <F1>
<ACCUM-APPREC-OR-DEPREC> 1,058,881,928 <F1>
<NET-ASSETS> 86,030,367
<DIVIDEND-INCOME> 20,697,079 <F1>
<INTEREST-INCOME> 12,219,965 <F1>
<OTHER-INCOME> 0 <F1>
<EXPENSES-NET> (30,517,112)<F1>
<NET-INVESTMENT-INCOME> 2,399,932 <F1>
<REALIZED-GAINS-CURRENT> 134,279,558 <F1>
<APPREC-INCREASE-CURRENT> 443,358,417 <F1>
<NET-CHANGE-FROM-OPS> 580,037,907 <F1>
<EQUALIZATION> 0 <F1>
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (3,123,845)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,456,779
<NUMBER-OF-SHARES-REDEEMED> (3,669,727)
<SHARES-REINVESTED> 153,307
<NET-CHANGE-IN-ASSETS> 29,124,185
<ACCUMULATED-NII-PRIOR> 2,045,226 <F1>
<ACCUMULATED-GAINS-PRIOR> 17,873,144 <F1>
<OVERDISTRIB-NII-PRIOR> 0 <F1>
<OVERDIST-NET-GAINS-PRIOR> 0 <F1>
<GROSS-ADVISORY-FEES> 11,985,183 <F1>
<INTEREST-EXPENSE> 0 <F1>
<GROSS-EXPENSE> 30,517,112 <F1>
<AVERAGE-NET-ASSETS> 71,981,769
<PER-SHARE-NAV-BEGIN> 17.191
<PER-SHARE-NII> (0.090)
<PER-SHARE-GAIN-APPREC> 3.914
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> (0.776)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 20.239
<EXPENSE-RATIO> 1.74
<AVG-DEBT-OUTSTANDING> 0 <F1>
<AVG-DEBT-PER-SHARE> 0 <F1>
</TABLE>
