<PAGE>
FORM 24F2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2
1. Name and address of issuer: New Alternatives Fund Inc.
150 Broadhollow Rd
Melville, NY 11747
2. Name of each series or class of funds for which this notice is filed:
3. Investment Company Act File Number: 811-3287
Securities Act File Number: 2-74436
4. Last day of fiscal year for which this notice is filed: 12/31/98
5. Check box if this notice is being filed more than 180 days after the close
of the issuer's fiscal year for purposes of reporting securities sold
after the close of the fiscal year but before termination of the issuer's
24-f2 declaration:
6. Date of termination of issuer's declaration under rule 24-f2 (a)(1), if
applicable (see Instruction A.6):
<PAGE>
7. Number and amount of securities of the same class of series which had been
registered under the Securities Act of 1933 other than pursuant to rule
24f-2 in a prior fiscal year, but which remained unsold at the beginning
of the fiscal year:
Indefinite
8. Number and amount of securities registered during the fiscal year other
than pursuant to rule 24f-2:
N/A
9. Number and aggregate sale price securities sold during the fiscal year:
$2,481,638.78
10. Number and aggregate sale price securities sold during the fiscal year in
reliance upon registration pursuant to rule 24f-2:
$2,481,638.78
11. Number and aggregate sale price of securities issued during the fiscal
year in connection with dividend reinvestment plans, if applicable
(see Instruction B.7):
N/A
<PAGE>
12. Calculation of registration fee:
(i) Aggregate sale price of securities sold during the fiscal
year in reliance on rule 24f-2 (from Item 10):
$2,481,638.78
(ii) Aggregate price of share issued in connection with dividend
reinvestment plans (from Item 11, if applicable):
+ N/A
(iii) Aggregate price of shares redeemed or repurchase during the
fiscal year (if applicable):
- N/A
(iv) Aggregate price of shares redeemed or repurchased and
previously applied as a reduction to filing fees pursuant to
rule 24-e-2 (if applicable):
+ N/A
(v) Net aggregate price of securities sold and issued during the
fiscal year in reliance on rule 24F-2 {line (i), plus line
(ii), less line (iii), plus line (iv)} (if applicable):
$2,481,638.78
(vi) Multiplier prescribed by Section 6(b) of the Securities Act
of 1933 or other applicable law or regulation (see
Instruction C.6):
X 1/36th (.000278)
(vii) Fee due {line (i) or line (v) multiplied by line (vi)}:
$689.90
---------------------------------
Instructions: Issuers should complete lines (ii), (iii), (iv), and (v) only if
the form is being filed within 60 days after the close of the issuers's fiscal
year. See Instruction C.3.
<PAGE>
13. Check box if fees are being remitted to the Commission's lockbox
depository as described in section 3a of the Commission's Rules of
Informal and Other Procedures (17 CFR 202.3a).
[X]
Date of mailing or wire transfer of filing fees to the Commissions's
lockbox depository: January 21th, 1999
SIGNATURES
This report has been signed below by the following persons on behalf of the
issuer and the capacities and on the dates indicated.
By: (Signature and Title)* /S/ _____________________________________________
David J. Schoenwald, President
Date: January 21st, 1998
*Please print the name and title of the signing officer below
the signature.
<PAGE>
File 2-74436
File 811-3287
Eric J Schmertz
275 Madison Ave
New York, NY 10016
OPINION OF COUNSEL
To the Shareholders and Directors of
New Alternatives Fund, Inc.
I am an Attorney at Law licensed to practice in the State of New York.
I have examined the Charter, By-Laws, Stock Certificates, Prospectus and
Registration Statement of NEW ALTERNATIVES FUND, INC.
I certify that when shares are fully paid they are non-assessable and may be
legally issued.
New York, New York
January 29, 1999
/S/ _________________________
ERIC J. SCHMERTZ
