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<PAGE> PAGE 2
013 B020001 CT
013 B030001 06103
014 A000001 THE TRAVELERS INSURANCE COMPANY
014 B000001 8-13516
014 A000002 PFS DISTRIBUTORS, INC.
014 B000002 8-37352
014 A000003 PFS INVESTMENTS INC.
014 B000003 8-26486
014 A000004 THE ROBINSON-HUMPHREY COMPANY, INC.
014 B000004 8-27190
014 A000005 TOWER SQUARE SECURITIES, INC.
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<PAGE> PAGE 3
022 A000002 ROBERTSON, STEPHENS
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022 A000008 LAWRENCE,CYRUS J. INCORP.
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022 D000008 733
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022 C000009 4176
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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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<PAGE> PAGE 8
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<PAGE> PAGE 9
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SIGNATURE IAN STUART
TITLE CFO LIFE & ANNUITY
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 133,685,003
<INVESTMENTS-AT-VALUE> 168,794,519
<RECEIVABLES> 2,552,514
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 7,651
<TOTAL-ASSETS> 171,354,684
<PAYABLE-FOR-SECURITIES> 5,663,810
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 41,814
<TOTAL-LIABILITIES> 5,705,624
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 122,852,049
<SHARES-COMMON-STOCK> 4,590,596
<SHARES-COMMON-PRIOR> 3,681,224
<ACCUMULATED-NII-CURRENT> 555,754
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 7,131,741
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 35,109,516
<NET-ASSETS> 165,649,060
<DIVIDEND-INCOME> 809,424
<INTEREST-INCOME> 346,593
<OTHER-INCOME> 0
<EXPENSES-NET> 600,263
<NET-INVESTMENT-INCOME> 555,754
<REALIZED-GAINS-CURRENT> 7,074,912
<APPREC-INCREASE-CURRENT> 13,889,340
<NET-CHANGE-FROM-OPS> 21,520,006
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,920,974)
<DISTRIBUTIONS-OF-GAINS> (3,690,149)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 806,702
<NUMBER-OF-SHARES-REDEEMED> (173,948)
<SHARES-REINVESTED> 276,618
<NET-CHANGE-IN-ASSETS> 43,493,628
<ACCUMULATED-NII-PRIOR> 811,421
<ACCUMULATED-GAINS-PRIOR> (7,856,531)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 537,619
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 600,263
<AVERAGE-NET-ASSETS> 14,380,617
<PER-SHARE-NAV-BEGIN> 33.18
<PER-SHARE-NII> .13
<PER-SHARE-GAIN-APPREC> 5.09
<PER-SHARE-DIVIDEND> (1.33)
<PER-SHARE-DISTRIBUTIONS> (.99)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 36.08
<EXPENSE-RATIO> .84
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>