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070 L010700 Y
070 L020700 Y
070 M010700 Y
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070 N020700 N
070 O010700 N
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070 P010700 Y
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070 Q010700 N
070 Q020700 N
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070 R020700 N
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<PAGE> PAGE 21
072 D000700 0
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<PAGE> PAGE 22
074 R010700 0
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028 A010800 251
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<PAGE> PAGE 23
048 B010800 0
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055 A000800 N
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<PAGE> PAGE 24
069 000800 N
070 A010800 Y
070 A020800 Y
070 B010800 Y
070 B020800 N
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070 C020800 N
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070 D020800 N
070 E010800 Y
070 E020800 N
070 F010800 Y
070 F020800 N
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070 G020800 N
070 H010800 Y
070 H020800 N
070 I010800 N
070 I020800 N
070 J010800 Y
070 J020800 N
070 K010800 Y
070 K020800 N
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070 L020800 Y
070 M010800 Y
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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028 A010900 1243
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<PAGE> PAGE 27
048 E020900 0.000
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<PAGE> PAGE 28
070 B020900 N
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
076 001000 0.00
SIGNATURE GEORGE C. BOWEN
TITLE TREASURER
<TABLE> <S> <C>
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<CIK> 355411
<NAME> LifeSpan Capital Appreciation Portfolio
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<NAME> Panorama Series Fund, Inc.
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<TABLE> <S> <C>
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<NAME> LifeSpan Diversified Income Portfolio
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<NAME> Panorama Series Fund, Inc.
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<PER-SHARE-NAV-BEGIN> 1.18
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 355411
<NAME> International Equity Portfolio
<SERIES>
<NUMBER> 7
<NAME> Panorama Series Fund, Inc.
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 355411
<NAME> Government Securities Portfolio
<SERIES>
<NUMBER> 6
<NAME> Panorama Series Fund, Inc.
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
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<NET-CHANGE-IN-ASSETS> (342,968)
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 355411
<NAME> TOTAL RETURN PORTFOLIO
<SERIES>
<NUMBER> 5
<NAME> PANORAMA SERIES FUND, INC.
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> JUN-30-1998
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<GROSS-EXPENSE> 3,611,586
<AVERAGE-NET-ASSETS> 1,320,955,592
<PER-SHARE-NAV-BEGIN> 2.00
<PER-SHARE-NII> 0.03
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<PER-SHARE-NAV-END> 1.82
<EXPENSE-RATIO> 0.55
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<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 355411
<NAME> Growth Portfolio
<SERIES>
<NUMBER> 3
<NAME> Panorama Series Fund, Inc.
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> JUN-30-1998
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<OTHER-ITEMS-ASSETS> 79,029
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<GROSS-EXPENSE> 2,389,986
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</TABLE>
