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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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SIGNATURE J. KEVIN KENELY
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ACCOUNTING
RECORDS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ACCOUNTING
RECORDS.
</LEGEND>
<SERIES>
<NUMBER> 101
<NAME> KEYSTONE HIGH INCOME BOND FUND (B-4) CLASS A
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-01-1995
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 671,379,438
<INVESTMENTS-AT-VALUE> 649,935,974
<RECEIVABLES> 37,717,306
<ASSETS-OTHER> 2,109,687
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 689,762,967
<PAYABLE-FOR-SECURITIES> 19,238,740
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,901,342
<TOTAL-LIABILITIES> 22,140,082
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,209,073,259
<SHARES-COMMON-STOCK> 159,436,210
<SHARES-COMMON-PRIOR> 173,052,313
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (8,317,502)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (511,689,408)
<ACCUM-APPREC-OR-DEPREC> (21,443,464)
<NET-ASSETS> 667,622,885
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 36,752,813
<OTHER-INCOME> 0
<EXPENSES-NET> (7,006,102)
<NET-INVESTMENT-INCOME> 29,746,711
<REALIZED-GAINS-CURRENT> 9,457,206
<APPREC-INCREASE-CURRENT> (46,369,673)
<NET-CHANGE-FROM-OPS> (7,165,756)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (32,235,440)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 15,940,241
<NUMBER-OF-SHARES-REDEEMED> (33,879,167)
<SHARES-REINVESTED> 4,322,823
<NET-CHANGE-IN-ASSETS> (97,342,001)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (5,828,773)
<OVERDIST-NET-GAINS-PRIOR> (521,146,614)
<GROSS-ADVISORY-FEES> (2,023,753)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (7,066,975)
<AVERAGE-NET-ASSETS> 718,141,031
<PER-SHARE-NAV-BEGIN> 4.42
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<AVG-DEBT-OUTSTANDING> 0
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</TABLE>