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<PAGE> PAGE 2
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<PAGE> PAGE 6
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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SIGNATURE TAMARA L. FAGELY
TITLE TREASURER
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THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENT OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 20 THROUGH 28 OF THE FORTIS BOND FUNDS
ANNUAL SHAREHOLDER REPORT.
</LEGEND>
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THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
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ANNUAL SHAREHOLDER REPORT.
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THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
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ANNUAL SHAREHOLDER REPORT.
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<OTHER-INCOME> 0
<EXPENSES-NET> (172,857)
<NET-INVESTMENT-INCOME> 941,985
<REALIZED-GAINS-CURRENT> 30,984
<APPREC-INCREASE-CURRENT> 53,650
<NET-CHANGE-FROM-OPS> 1,026,619
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,082)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 21,527
<NUMBER-OF-SHARES-REDEEMED> (2,560)
<SHARES-REINVESTED> 327
<NET-CHANGE-IN-ASSETS> 23,368,872
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 123,200
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 214,232
<AVERAGE-NET-ASSETS> 21,773,000
<PER-SHARE-NAV-BEGIN> 9.98
<PER-SHARE-NII> 0.38
<PER-SHARE-GAIN-APPREC> 0.07
<PER-SHARE-DIVIDEND> (0.38)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.05
<EXPENSE-RATIO> 1.85<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>ANNUALIZED.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENT OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 20 THROUGH 28 OF THE FORTIS BOND FUNDS
ANNUAL SHAREHOLDER REPORT.
</LEGEND>
<CIK> 0000049929
<NAME> FORTIS INCOME PORTFOLIOS, INC.
<SERIES>
<NUMBER> 024
<NAME> STRATEGIC INCOME FUND (CLASS H)
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 8-MOS
<FISCAL-YEAR-END> JUL-31-1998
<PERIOD-START> DEC-01-1997
<PERIOD-END> JUL-31-1998
<INVESTMENTS-AT-COST> 23,317,411
<INVESTMENTS-AT-VALUE> 23,371,061
<RECEIVABLES> 471,351
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 54,879
<TOTAL-ASSETS> 23,897,291
<PAYABLE-FOR-SECURITIES> 503,235
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 25,184
<TOTAL-LIABILITIES> 528,419
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 23,284,238
<SHARES-COMMON-STOCK> 35,302
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 30,984
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 53,650
<NET-ASSETS> 23,368,872
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,114,842
<OTHER-INCOME> 0
<EXPENSES-NET> (172,857)
<NET-INVESTMENT-INCOME> 941,985
<REALIZED-GAINS-CURRENT> 30,984
<APPREC-INCREASE-CURRENT> 53,650
<NET-CHANGE-FROM-OPS> 1,026,619
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (6,959)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 35,910
<NUMBER-OF-SHARES-REDEEMED> (1,074)
<SHARES-REINVESTED> 466
<NET-CHANGE-IN-ASSETS> 23,368,872
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 123,200
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 214,232
<AVERAGE-NET-ASSETS> 21,773,000
<PER-SHARE-NAV-BEGIN> 9.98
<PER-SHARE-NII> 0.38
<PER-SHARE-GAIN-APPREC> 0.07
<PER-SHARE-DIVIDEND> (0.38)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.05
<EXPENSE-RATIO> 1.85<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>ANNUALIZED.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENT OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 20 THROUGH 28 OF THE FORTIS BOND FUNDS
ANNUAL SHAREHOLDER REPORT.
</LEGEND>
<CIK> 0000049929
<NAME> FORTIS INCOME PORTFOLIOS, INC.
<SERIES>
<NUMBER> 011
<NAME> U.S. GOVERNMENT SECURITIES FUND (CLASS A)
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1998
<PERIOD-START> AUG-01-1997
<PERIOD-END> JUL-31-1998
<INVESTMENTS-AT-COST> 345,435,211
<INVESTMENTS-AT-VALUE> 353,838,111
<RECEIVABLES> 3,749,557
<ASSETS-OTHER> 164,806,638<F1>
<OTHER-ITEMS-ASSETS> 24,930
<TOTAL-ASSETS> 522,419,236
<PAYABLE-FOR-SECURITIES> 4,095,768
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 165,581,749<F1>
<TOTAL-LIABILITIES> 169,677,517
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 409,416,538
<SHARES-COMMON-STOCK> 5,635,910
<SHARES-COMMON-PRIOR> 6,456,243
<ACCUMULATED-NII-CURRENT> 95,443
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (65,173,162)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 8,402,900
<NET-ASSETS> 352,741,719
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 23,905,077
<OTHER-INCOME> 154,012<F2>
<EXPENSES-NET> (3,263,099)
<NET-INVESTMENT-INCOME> 20,795,990
<REALIZED-GAINS-CURRENT> 8,346,912
<APPREC-INCREASE-CURRENT> (2,474,357)
<NET-CHANGE-FROM-OPS> 26,668,545
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3,017,377)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 822,757
<NUMBER-OF-SHARES-REDEEMED> (1,875,615)
<SHARES-REINVESTED> 232,525
<NET-CHANGE-IN-ASSETS> (45,936,400)
<ACCUMULATED-NII-PRIOR> 207,588
<ACCUMULATED-GAINS-PRIOR> (73,520,074)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,670,449
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,263,099
<AVERAGE-NET-ASSETS> 374,726,000
<PER-SHARE-NAV-BEGIN> 9.16
<PER-SHARE-NII> 0.50
<PER-SHARE-GAIN-APPREC> 0.14
<PER-SHARE-DIVIDEND> (0.50)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.30
<EXPENSE-RATIO> 1.04
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>SECURITIES VALUED AT $159,357,067 WERE ON LOAN TO BROKERS FROM THE PORTFOLIO.
FOR COLLATERAL, THE PORTFOLIO'S CUSTODIAN RECEIVED $164,806,638 IN CASH.
<F2>SECURITY LENDING INCOME THROUGH JULY 31, 1998.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENT OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 20 THROUGH 28 OF THE FORTIS BOND FUNDS
ANNUAL SHAREHOLDER REPORT.
</LEGEND>
<CIK> 0000049929
<NAME> FORTIS INCOME PORTFOLIOS, INC.
<SERIES>
<NUMBER> 012
<NAME> U.S. GOVERNMENT SECURITIES FUND (CLASS B)
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1998
<PERIOD-START> AUG-01-1997
<PERIOD-END> JUL-31-1998
<INVESTMENTS-AT-COST> 345,435,211
<INVESTMENTS-AT-VALUE> 353,838,111
<RECEIVABLES> 3,749,557
<ASSETS-OTHER> 164,806,638<F1>
<OTHER-ITEMS-ASSETS> 24,930
<TOTAL-ASSETS> 522,419,236
<PAYABLE-FOR-SECURITIES> 4,095,768
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 165,581,749<F1>
<TOTAL-LIABILITIES> 169,677,517
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 409,416,538
<SHARES-COMMON-STOCK> 340,570
<SHARES-COMMON-PRIOR> 309,239
<ACCUMULATED-NII-CURRENT> 95,443
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (65,173,162)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 8,402,900
<NET-ASSETS> 352,741,719
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 23,905,077
<OTHER-INCOME> 154,012<F2>
<EXPENSES-NET> (3,263,099)
<NET-INVESTMENT-INCOME> 20,795,990
<REALIZED-GAINS-CURRENT> 8,346,912
<APPREC-INCREASE-CURRENT> (2,474,357)
<NET-CHANGE-FROM-OPS> 26,668,545
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (140,663)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 120,670
<NUMBER-OF-SHARES-REDEEMED> (102,794)
<SHARES-REINVESTED> 13,455
<NET-CHANGE-IN-ASSETS> (45,936,400)
<ACCUMULATED-NII-PRIOR> 207,588
<ACCUMULATED-GAINS-PRIOR> (73,520,074)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,670,449
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,263,099
<AVERAGE-NET-ASSETS> 374,726,000
<PER-SHARE-NAV-BEGIN> 9.14
<PER-SHARE-NII> 0.43
<PER-SHARE-GAIN-APPREC> 0.14
<PER-SHARE-DIVIDEND> (0.43)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.28
<EXPENSE-RATIO> 1.79
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>SECURITIES VALUED AT $159,357,067 WERE ON LOAN TO BROKERS FROM THE PORTFOLIO.
FOR COLLATERAL, THE PORTFOLIO'S CUSTODIAN RECEIVED $164,806,638 IN CASH.
<F2>SECURITY LENDING INCOME THROUGH JULY 31, 1998.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENT OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 20 THROUGH 28 OF THE FORTIS BOND FUNDS
ANNUAL SHAREHOLDER REPORT.
</LEGEND>
<CIK> 0000049929
<NAME> FORTIS INCOME PORTFOLIOS, INC.
<SERIES>
<NUMBER> 013
<NAME> U.S. GOVERNMENT SECURITIES FUND (CLASS C)
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1998
<PERIOD-START> AUG-01-1997
<PERIOD-END> JUL-31-1998
<INVESTMENTS-AT-COST> 345,435,211
<INVESTMENTS-AT-VALUE> 353,838,111
<RECEIVABLES> 3,749,557
<ASSETS-OTHER> 164,806,638<F1>
<OTHER-ITEMS-ASSETS> 24,930
<TOTAL-ASSETS> 522,419,236
<PAYABLE-FOR-SECURITIES> 4,095,768
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 165,581,749<F1>
<TOTAL-LIABILITIES> 169,677,517
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 409,416,538
<SHARES-COMMON-STOCK> 136,654
<SHARES-COMMON-PRIOR> 158,205
<ACCUMULATED-NII-CURRENT> 95,443
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (65,173,162)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 8,402,900
<NET-ASSETS> 352,741,719
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 23,905,077
<OTHER-INCOME> 154,012<F2>
<EXPENSES-NET> (3,263,099)
<NET-INVESTMENT-INCOME> 20,795,990
<REALIZED-GAINS-CURRENT> 8,346,912
<APPREC-INCREASE-CURRENT> (2,474,357)
<NET-CHANGE-FROM-OPS> 26,668,545
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (60,964)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 83,034
<NUMBER-OF-SHARES-REDEEMED> (110,004)
<SHARES-REINVESTED> 5,419
<NET-CHANGE-IN-ASSETS> (45,936,400)
<ACCUMULATED-NII-PRIOR> 207,588
<ACCUMULATED-GAINS-PRIOR> (73,520,074)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,670,449
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,263,099
<AVERAGE-NET-ASSETS> 374,726,000
<PER-SHARE-NAV-BEGIN> 9.13
<PER-SHARE-NII> 0.43
<PER-SHARE-GAIN-APPREC> 0.14
<PER-SHARE-DIVIDEND> (0.43)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.27
<EXPENSE-RATIO> 1.79
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>SECURITIES VALUED AT $159,357,067 WERE ON LOAN TO BROKERS FROM THE PORTFOLIO.
FOR COLLATERAL, THE PORTFOLIO'S CUSTODIAN RECEIVED $164,806,638 IN CASH.
<F2>SECURITY LENDING INCOME THROUGH JULY 31, 1998.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENT OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 20 THROUGH 28 OF THE FORTIS BOND FUNDS
ANNUAL SHAREHOLDER REPORT.
</LEGEND>
<CIK> 0000049929
<NAME> FORTIS INCOME PORTFOLIOS, INC.
<SERIES>
<NUMBER> 015
<NAME> U.S. GOVERNMENT SECURITIES FUND (CLASS E)
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1998
<PERIOD-START> AUG-01-1997
<PERIOD-END> JUL-31-1998
<INVESTMENTS-AT-COST> 345,435,211
<INVESTMENTS-AT-VALUE> 353,838,111
<RECEIVABLES> 3,749,557
<ASSETS-OTHER> 164,806,638<F1>
<OTHER-ITEMS-ASSETS> 24,930
<TOTAL-ASSETS> 522,419,236
<PAYABLE-FOR-SECURITIES> 4,095,768
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 165,581,749<F1>
<TOTAL-LIABILITIES> 169,677,517
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 409,416,538
<SHARES-COMMON-STOCK> 30,649,851
<SHARES-COMMON-PRIOR> 35,453,992
<ACCUMULATED-NII-CURRENT> 95,443
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (65,173,162)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 8,402,900
<NET-ASSETS> 352,741,719
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 23,905,077
<OTHER-INCOME> 154,012<F2>
<EXPENSES-NET> (3,263,099)
<NET-INVESTMENT-INCOME> 20,795,990
<REALIZED-GAINS-CURRENT> 8,346,912
<APPREC-INCREASE-CURRENT> (2,474,357)
<NET-CHANGE-FROM-OPS> 26,668,545
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (17,164,484)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,495,810
<NUMBER-OF-SHARES-REDEEMED> (8,637,714)
<SHARES-REINVESTED> 1,337,763
<NET-CHANGE-IN-ASSETS> (45,936,400)
<ACCUMULATED-NII-PRIOR> 207,588
<ACCUMULATED-GAINS-PRIOR> (73,520,074)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,670,449
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,263,099
<AVERAGE-NET-ASSETS> 374,726,000
<PER-SHARE-NAV-BEGIN> 9.16
<PER-SHARE-NII> 0.52
<PER-SHARE-GAIN-APPREC> 0.14
<PER-SHARE-DIVIDEND> (0.52)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.30
<EXPENSE-RATIO> 0.79
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>SECURITIES VALUED AT $159,357,067 WERE ON LOAN TO BROKERS FROM THE PORTFOLIO.
FOR COLLATERAL, THE PORTFOLIO'S CUSTODIAN RECEIVED $164,806,638 IN CASH.
<F2>SECURITY LENDING INCOME THROUGH JULY 31, 1998.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENT OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 20 THROUGH 28 OF THE FORTIS BOND FUNDS
ANNUAL SHAREHOLDER REPORT.
</LEGEND>
<CIK> 0000049929
<NAME> FORTIS INCOME PORTFOLIOS, INC.
<SERIES>
<NUMBER> 014
<NAME> U.S. GOVERNMENT SECURITIES FUND (CLASS H)
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1998
<PERIOD-START> AUG-01-1997
<PERIOD-END> JUL-31-1998
<INVESTMENTS-AT-COST> 345,435,211
<INVESTMENTS-AT-VALUE> 353,838,111
<RECEIVABLES> 3,749,557
<ASSETS-OTHER> 164,806,638<F1>
<OTHER-ITEMS-ASSETS> 24,930
<TOTAL-ASSETS> 522,419,236
<PAYABLE-FOR-SECURITIES> 4,095,768
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 165,581,749<F1>
<TOTAL-LIABILITIES> 169,677,517
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 409,416,538
<SHARES-COMMON-STOCK> 1,166,084
<SHARES-COMMON-PRIOR> 1,164,372
<ACCUMULATED-NII-CURRENT> 95,443
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (65,173,162)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 8,402,900
<NET-ASSETS> 352,741,719
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 23,905,077
<OTHER-INCOME> 154,012<F2>
<EXPENSES-NET> (3,263,099)
<NET-INVESTMENT-INCOME> 20,795,990
<REALIZED-GAINS-CURRENT> 8,346,912
<APPREC-INCREASE-CURRENT> (2,474,357)
<NET-CHANGE-FROM-OPS> 26,668,545
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (524,647)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 451,004
<NUMBER-OF-SHARES-REDEEMED> (489,094)
<SHARES-REINVESTED> 39,802
<NET-CHANGE-IN-ASSETS> (45,936,400)
<ACCUMULATED-NII-PRIOR> 207,588
<ACCUMULATED-GAINS-PRIOR> (73,520,074)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,670,449
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,263,099
<AVERAGE-NET-ASSETS> 374,726,000
<PER-SHARE-NAV-BEGIN> 9.14
<PER-SHARE-NII> 0.43
<PER-SHARE-GAIN-APPREC> 0.14
<PER-SHARE-DIVIDEND> (0.43)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.28
<EXPENSE-RATIO> 1.79
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>SECURITIES VALUED AT $159,357,067 WERE ON LOAN TO BROKERS FROM THE PORTFOLIO.
FOR COLLATERAL, THE PORTFOLIO'S CUSTODIAN RECEIVED $164,806,638 IN CASH.
<F2>SECURITY LENDING INCOME THROUGH JULY 31, 1998.
</FN>
</TABLE>
