<PAGE> PAGE 1
000 A000000 06/30/96
000 C000000 711501
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 SEPARATE ACCOUNT I OF WASHINGTON NATIONAL INS
001 B000000 811-3640
001 C000000 8477933000
002 A000000 300 TOWER PARKWAY
002 B000000 LINCOLNSHIRE
002 C000000 IL
002 D010000 60069
002 D020000 3665
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 3
007 C010100 1
007 C020100 BOND SUB-ACCOUNT
007 C030100 N
007 C010200 2
007 C020200 SHORT-TERM PORTFOLIO SUB-ACCOUNT
007 C030200 N
007 C010300 3
007 C020300 STOCK SUB-ACCOUNT
007 C030300 N
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
010 A00AA01 UNITED PRESIDENTIAL LIFE INSURANCE COMPANY
010 C01AA01 KOKOMO
010 C02AA01 IN
010 C03AA01 46904
010 C04AA01 9006
012 A00AA01 UNITED PRESIDENTIAL LIFE INSURANCE COMPANY
012 B00AA01 84-0000000
012 C01AA01 KOKOMO
012 C02AA01 IN
012 C03AA01 46904
012 C04AA01 9006
013 A00AA01 ERNST & YOUNG LLP
<PAGE> PAGE 2
013 B01AA01 CHICAGO
013 B02AA01 IL
013 B03AA01 60606
015 A00AA01 BANK OF AMERICA/ILLINOIS
015 B00AA01 C
015 C01AA01 CHICAGO
015 C02AA01 IL
015 C03AA01 60697
015 E01AA01 X
018 00AA00 Y
019 A00AA00 N
019 B00AA00 0
020 A000001 WILSHIRE ASSOCIATES
020 B000001 95-2755361
020 C000001 12
020 A000002 SMITH-BARNEY
020 B000002 13-1912900
020 C000002 1
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 13
022 A000001 BANK OF NEW YORK
022 B000001 13-6062916
022 C000001 13122
022 D000001 6490
022 A000002 MERRILL LYNCH & COMPANY
022 B000002 13-5674085
022 C000002 199
022 D000002 2748
022 A000003 PRUDENTIAL FUNDING CORPORATION
022 B000003 22-2231168
022 C000003 995
022 D000003 1993
022 A000004 SMITH-BARNEY
022 B000004 13-1912900
022 C000004 0
022 D000004 2411
022 A000005 OPPENHEIMER & COMPANY
022 B000005 13-2798343
022 C000005 0
022 D000005 1026
022 A000006 BEAR STEARNS
022 B000006 13-4946705
022 C000006 0
022 D000006 1011
<PAGE> PAGE 3
022 A000007 IBM CREDIT CORPORATION
022 B000007 22-2351962
022 C000007 996
022 D000007 0
022 A000008 FORD MOTOR CREDIT COMPANY
022 B000008 38-1612444
022 C000008 995
022 D000008 0
022 A000009 HOUSEHOLD FINANCE CORPORATION
022 B000009 36-1239445
022 C000009 995
022 D000009 0
022 A000010 CHEVRON OIL FINANCE COMPANY
022 B000010 25-1215010
022 C000010 797
022 D000010 0
023 C000000 19690
023 D000000 17800
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 Y
027 000000 Y
029 00AA00 N
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
034 00AA00 Y
035 00AA00 79
036 A00AA00 Y
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 Y
040 00AA00 N
042 A00AA00 0
042 B00AA00 0
042 C00AA00 0
042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
<PAGE> PAGE 4
042 H00AA00 0
043 00AA00 0
044 00AA00 0
045 00AA00 Y
046 00AA00 N
047 00AA00 Y
048 00AA00 0.500
048 A01AA00 0
048 A02AA00 0.000
048 B01AA00 0
048 B02AA00 0.000
048 C01AA00 0
048 C02AA00 0.000
048 D01AA00 0
048 D02AA00 0.000
048 E01AA00 0
048 E02AA00 0.000
048 F01AA00 0
048 F02AA00 0.000
048 G01AA00 0
048 G02AA00 0.000
048 H01AA00 0
048 H02AA00 0.000
048 I01AA00 0
048 I02AA00 0.000
048 J01AA00 0
048 J02AA00 0.000
048 K01AA00 0
048 K02AA00 0.000
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 Y
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
055 A00AA00 N
055 B00AA00 N
<PAGE> PAGE 5
056 00AA00 N
057 00AA00 N
058 A00AA00 Y
058 B00AA00 Y
058 C00AA00 N
058 D00AA00 N
058 E00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 300
070 A01AA00 Y
070 A02AA00 N
070 B01AA00 N
070 B02AA00 N
070 C01AA00 N
070 C02AA00 N
070 D01AA00 N
070 D02AA00 N
070 E01AA00 N
070 E02AA00 N
070 F01AA00 N
070 F02AA00 N
070 G01AA00 N
070 G02AA00 N
070 H01AA00 N
070 H02AA00 N
070 I01AA00 N
070 I02AA00 N
070 J01AA00 N
070 J02AA00 N
070 K01AA00 N
070 K02AA00 N
070 L01AA00 Y
070 L02AA00 N
070 M01AA00 N
070 M02AA00 N
070 N01AA00 Y
070 N02AA00 N
070 O01AA00 N
070 O02AA00 N
070 P01AA00 N
070 P02AA00 N
070 Q01AA00 N
070 Q02AA00 N
070 R01AA00 N
070 R02AA00 N
077 A000000 Y
077 B000000 Y
077 Q010000 Y
080 A00AA00 FEDERAL INSURANCE COMPANY
<PAGE> PAGE 6
080 C00AA00 650
081 A00AA00 N
081 B00AA00 0
082 A00AA00 Y
082 B00AA00 100
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
008 A000101 WASHINGTON NATIONAL INSURANCE COMPANY
008 B000101 A
008 C000101 801-3640
008 D010101 LINCOLNSHIRE
008 D020101 IL
008 D030101 60069
008 D040101 3665
024 000100 N
028 A010100 76
028 A020100 0
028 A030100 0
028 A040100 63
028 B010100 550
028 B020100 0
028 B030100 0
028 B040100 460
028 C010100 93
028 C020100 0
028 C030100 0
028 C040100 105
028 D010100 62
028 D020100 0
028 D030100 0
028 D040100 153
028 E010100 23
028 E020100 0
028 E030100 0
028 E040100 151
<PAGE> PAGE 7
028 F010100 25
028 F020100 0
028 F030100 0
028 F040100 5484
028 G010100 829
028 G020100 0
028 G030100 0
028 G040100 6416
028 H000100 0
062 A000100 Y
062 B000100 0.0
062 C000100 0.0
062 D000100 0.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 99.7
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
063 A000100 1
063 B000100 0.0
066 A000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
071 A000100 0
071 B000100 10741
071 C000100 9462
071 D000100 0
072 A000100 6
072 B000100 431
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 30
072 G000100 21
072 H000100 0
072 I000100 0
072 J000100 0
072 K000100 0
072 L000100 0
072 M000100 0
<PAGE> PAGE 8
072 N000100 0
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 0
072 S000100 0
072 T000100 0
072 U000100 0
072 V000100 0
072 W000100 61
072 X000100 112
072 Y000100 0
072 Z000100 319
072AA000100 15
072BB000100 0
072CC010100 0
072CC020100 585
072DD010100 0
072DD020100 0
072EE000100 0
073 A010100 0.0000
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 7
074 B000100 0
074 C000100 6523
074 D000100 0
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 0
074 K000100 0
074 L000100 10
074 M000100 0
074 N000100 6540
074 O000100 0
074 P000100 0
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 0
074 S000100 0
074 T000100 6540
074 U010100 2671
074 U020100 0
074 V010100 2.45
074 V020100 0.00
<PAGE> PAGE 9
074 W000100 0.0000
074 X000100 1357
074 Y000100 0
075 A000100 0
075 B000100 11457
076 000100 0.00
008 A000201 WASHINGTON NATIONAL INSURANCE COMPANY
008 B000201 A
008 C000201 801-3640
008 D010201 LINCOLNSHIRE
008 D020201 IL
008 D030201 60069
008 D040201 3665
024 000200 N
028 A010200 2
028 A020200 0
028 A030200 0
028 A040200 27
028 B010200 1
028 B020200 0
028 B030200 0
028 B040200 1
028 C010200 4
028 C020200 0
028 C030200 0
028 C040200 1
028 D010200 4
028 D020200 0
028 D030200 0
028 D040200 0
028 E010200 1
028 E020200 0
028 E030200 0
028 E040200 0
028 F010200 18
028 F020200 0
028 F030200 0
028 F040200 1105
028 G010200 30
028 G020200 0
028 G030200 0
028 G040200 1134
028 H000200 0
062 A000200 Y
062 B000200 0.0
062 C000200 0.0
062 D000200 0.0
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
<PAGE> PAGE 10
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 99.7
062 M000200 0.0
062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
063 A000200 1
063 B000200 0.0
066 A000200 N
067 000200 N
068 A000200 N
068 B000200 N
069 000200 N
071 A000200 0
071 B000200 0
071 C000200 0
071 D000200 0
072 A000200 6
072 B000200 44
072 C000200 0
072 D000200 0
072 E000200 0
072 F000200 4
072 G000200 3
072 H000200 0
072 I000200 0
072 J000200 0
072 K000200 0
072 L000200 0
072 M000200 0
072 N000200 0
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 0
072 S000200 0
072 T000200 0
072 U000200 0
072 V000200 0
072 W000200 8
072 X000200 15
072 Y000200 0
072 Z000200 29
072AA000200 0
072BB000200 0
072CC010200 0
072CC020200 0
<PAGE> PAGE 11
072DD010200 0
072DD020200 0
072EE000200 0
073 A010200 0.0000
073 A020200 0.0000
073 B000200 0.0000
073 C000200 0.0000
074 A000200 2
074 B000200 0
074 C000200 598
074 D000200 0
074 E000200 0
074 F000200 0
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 0
074 K000200 0
074 L000200 0
074 M000200 0
074 N000200 600
074 O000200 0
074 P000200 0
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 0
074 S000200 0
074 T000200 600
074 U010200 333
074 U020200 0
074 V010200 1.80
074 V020200 0.00
074 W000200 0.0000
074 X000200 112
074 Y000200 0
075 A000200 1517
075 B000200 0
076 000200 0.00
008 A000301 WASHINGTON NATIONAL INSURANCE COMPANY
008 B000301 A
008 C000301 801-3640
008 D010301 LINCOLNSHIRE
008 D020301 IL
008 D030301 60069
008 D040301 3665
024 000300 Y
025 A000301 MERRILL LYNCH & COMPANY
025 B000301 13-5674085
025 C000301 E
<PAGE> PAGE 12
025 D000301 1316
025 D000302 0
025 D000303 0
025 D000304 0
025 D000305 0
025 D000306 0
025 D000307 0
025 D000308 0
028 A010300 568
028 A020300 0
028 A030300 0
028 A040300 522
028 B010300 632
028 B020300 0
028 B030300 0
028 B040300 330
028 C010300 329
028 C020300 0
028 C030300 0
028 C040300 313
028 D010300 419
028 D020300 0
028 D030300 0
028 D040300 325
028 E010300 301
028 E020300 0
028 E030300 0
028 E040300 291
028 F010300 152
028 F020300 0
028 F030300 0
028 F040300 10750
028 G010300 2401
028 G020300 0
028 G030300 0
028 G040300 12531
028 H000300 0
062 A000300 N
062 B000300 0.0
062 C000300 0.0
062 D000300 0.0
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 0.0
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 0.0
062 N000300 0.0
<PAGE> PAGE 13
062 O000300 0.0
062 P000300 0.0
062 Q000300 0.0
062 R000300 0.0
066 A000300 Y
066 E000300 Y
067 000300 N
068 A000300 N
068 B000300 N
069 000300 N
071 A000300 0
071 B000300 10578
071 C000300 31928
071 D000300 0
072 A000300 6
072 B000300 13
072 C000300 396
072 D000300 0
072 E000300 0
072 F000300 84
072 G000300 59
072 H000300 0
072 I000300 0
072 J000300 0
072 K000300 0
072 L000300 0
072 M000300 0
072 N000300 0
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 0
072 S000300 0
072 T000300 0
072 U000300 0
072 V000300 0
072 W000300 167
072 X000300 310
072 Y000300 0
072 Z000300 99
072AA000300 3028
072BB000300 0
072CC010300 0
072CC020300 537
072DD010300 0
072DD020300 0
072EE000300 0
073 A010300 0.0000
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
<PAGE> PAGE 14
074 A000300 2
074 B000300 0
074 C000300 722
074 D000300 0
074 E000300 0
074 F000300 23980
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 0
074 K000300 0
074 L000300 41
074 M000300 0
074 N000300 24745
074 O000300 0
074 P000300 0
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 0
074 S000300 0
074 T000300 24745
074 U010300 6698
074 U020300 0
074 V010300 3.69
074 V020300 0.00
074 W000300 0.0000
074 X000300 2331
074 Y000300 0
075 A000300 0
075 B000300 32499
076 000300 0.00
SIGNATURE JOAN COHEN
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000711501
<NAME> SEPARATE ACCOUNT I OF WASHINGTON NATIONAL INS
<SERIES>
<NUMBER> 1
<NAME> BOND SUB-ACCOUNT
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 6,523,000
<INVESTMENTS-AT-VALUE> 6,523,000
<RECEIVABLES> 9,675
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 7,283
<TOTAL-ASSETS> 6,539,958
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 2,671,181
<SHARES-COMMON-PRIOR> 4,954,931
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 6,539,958
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 430,886
<OTHER-INCOME> 0
<EXPENSES-NET> 111,564
<NET-INVESTMENT-INCOME> 319,322
<REALIZED-GAINS-CURRENT> 14,992
<APPREC-INCREASE-CURRENT> (585,246)
<NET-CHANGE-FROM-OPS> (250,932)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 61,001
<NUMBER-OF-SHARES-REDEEMED> (2,429,369)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (5,837,875)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 30,152
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 111,564
<AVERAGE-NET-ASSETS> 11,456,954
<PER-SHARE-NAV-BEGIN> 2.50
<PER-SHARE-NII> .07
<PER-SHARE-GAIN-APPREC> (.12)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 2.45
<EXPENSE-RATIO> 1.95
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000711501
<NAME> SEPARATE ACCOUNT I OF WASHINGTON NATIONAL INS
<SERIES>
<NUMBER> 2
<NAME> SHORT-TERM PORTFOLIO SUB-ACCOUNT
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 598,000
<INVESTMENTS-AT-VALUE> 598,000
<RECEIVABLES> 409
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 1,565
<TOTAL-ASSETS> 599,974
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 332,903
<SHARES-COMMON-PRIOR> 945,624
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 599,974
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 43,907
<OTHER-INCOME> 0
<EXPENSES-NET> 15,154
<NET-INVESTMENT-INCOME> 28,753
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 28,753
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> (629,618)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (1,074,835)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,096
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 15,154
<AVERAGE-NET-ASSETS> 1,516,825
<PER-SHARE-NAV-BEGIN> 1.77
<PER-SHARE-NII> .03
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.80
<EXPENSE-RATIO> 2.00
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000711501
<NAME> SEPARATE ACCOUNT I OF WASHINGTON NATIONAL INS
<SERIES>
<NUMBER> 3
<NAME> STOCK SUB-ACCOUNT
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 11,095,355
<INVESTMENTS-AT-VALUE> 24,701,985
<RECEIVABLES> 40,867
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 1,644
<TOTAL-ASSETS> 24,744,496
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 6,698,373
<SHARES-COMMON-PRIOR> 9,442,564
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 13,606,630
<NET-ASSETS> 24,744,496
<DIVIDEND-INCOME> 396,015
<INTEREST-INCOME> 12,870
<OTHER-INCOME> 0
<EXPENSES-NET> 309,835
<NET-INVESTMENT-INCOME> 99,050
<REALIZED-GAINS-CURRENT> 3,028,061
<APPREC-INCREASE-CURRENT> (537,099)
<NET-CHANGE-FROM-OPS> 2,590,012
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 187,817
<NUMBER-OF-SHARES-REDEEMED> (3,331,704)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (7,535,225)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 83,739
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 309,835
<AVERAGE-NET-ASSETS> 32,498,831
<PER-SHARE-NAV-BEGIN> 3.42
<PER-SHARE-NII> .00
<PER-SHARE-GAIN-APPREC> .27
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 3.69
<EXPENSE-RATIO> 1.94
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
