LINCOLN NATIONAL GROWTH FUND INC
NSAR-A, 1997-08-29
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<PAGE>      PAGE  1
000 A000000 06/30/97
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001 A000000 LINCOLN NATIONAL GROWTH AND INCOME FUND INC.
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002 A000000 1300 SOUTH CLINTON STREET
002 B000000 FORT WAYNE
002 C000000 IN
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008 A000001 LINCOLN INVESTMENT MANAGEMENT INC.
008 B000001 A
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008 A000002 VANTAGE GLOBAL ADVISORS INC.
008 B000002 S
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008 D010002 NEW YORK
008 D020002 NY
008 D030002 10111
011 A000001 THE LINCOLN NATIONAL LIFE INSURANCE CO. INC.
011 B000001 8-13034
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013 A000001 ERNST & YOUNG
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013 B020001 IN
013 B030001 46802
014 A000001 LINCOLN FINANCIAL ADVISORS
014 B000001 8-14685
014 A000002 LYNCH AND MAYER SECURITIES CORP.
014 B000002 8-114362
014 A000003 THE LINCOLN NATIONAL LIFE INSURANCE CO. INC.
014 B000003 8-13034
014 A000004 DELAWARE DISTRIBUTORS LP
014 B000004 8-29755
<PAGE>      PAGE  2
015 A000001 BANKERS TRUST COMPANY OF NEW YORK
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SIGNATURE   ERIC C. JONES                                
TITLE       DIR. MUTUAL FUNDS   
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000353874
<NAME> LINCOLN NATIONAL GROWTH AND INCOME FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                    2,089,461,595
<INVESTMENTS-AT-VALUE>                   3,043,166,651
<RECEIVABLES>                                8,801,791
<ASSETS-OTHER>                                  93,826
<OTHER-ITEMS-ASSETS>                                 0
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<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    1,046,130
<TOTAL-LIABILITIES>                          9,080,687
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                 1,984,205,320
<SHARES-COMMON-STOCK>                       81,420,219
<SHARES-COMMON-PRIOR>                       74,454,840
<ACCUMULATED-NII-CURRENT>                   24,985,275
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                     80,085,430
<OVERDISTRIBUTION-GAINS>                             0
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<OTHER-INCOME>                                       0
<EXPENSES-NET>                             (4,960,199)
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<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                  (85,813,991)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      3,371,854
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<EXPENSE-RATIO>                                   0.36
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</TABLE>


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