INTERNATIONAL SERIES INC
NSAR-B, 1997-01-29
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<PAGE>      PAGE  1
000 B000000 11/30/96
000 C000000 0000742286
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 INTERNATIONAL SERIES, INC.
001 B000000 811-3984
001 C000000 4122881581
002 A000000 FEDERATED INVESTORS TOWER
002 B000000 PITTSBURGH
002 C000000 PA
002 D010000 15222
002 D020000 3779
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  2
007 C010100  1
007 C020100 FEDERATED INTERNATIONAL EQUITY FUND
007 C030100 N
007 C010200  2
007 C020200 FEDERATED INTERNATIONAL INCOME FUND
007 C030200 N
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 FEDERATED GLOBAL RESEARCH CORP.
008 B00AA01 A
008 C00AA01 801-49470
008 D01AA01 NEW YORK
008 D02AA01 NY
008 D03AA01 10038
008 D04AA01 4965
010 A00AA01 FEDERATED SERVICES COMPANY
010 C01AA01 PITTSBURGH
010 C02AA01 PA
010 C03AA01 15222
010 C04AA01 3779
011 A00AA01 FEDERATED SECURITIES CORP.
011 B00AA01 8-15561
<PAGE>      PAGE  2
011 C01AA01 PITTSBURGH
011 C02AA01 PA
011 C03AA01 15222
011 C04AA01 3779
012 A00AA01 FEDERATED SHAREHOLDER SERVICES COMPANY
012 B00AA01 84-1869
012 C01AA01 PITTSBURGH
012 C02AA01 PA
012 C03AA01 15222
012 C04AA01 3779
013 A00AA01 ARTHUR ANDERSEN LLP
013 B01AA01 PITTSBURGH
013 B02AA01 PA
013 B03AA01 15222
018  00AA00 Y
019 A00AA00 N
019 B00AA00    0
020 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
020 B000001 13-5674085
020 C000001    537
020 A000002 CAPEL (JAMES)(USA) LIMITED
020 C000002    174
020 A000003 BZW SECURITIES, INC.
020 B000003 13-3297824
020 C000003     97
020 A000004 KLEINWORT, BENSON NORTH AMERICA, INC.
020 B000004 13-2647786
020 C000004     81
020 A000005 VICKERS BALLAS (USA) & CO.
020 C000005     59
020 A000006 NOMURA SECURITIES INTERNATIONAL, INC.
020 B000006 13-2642206
020 C000006     47
020 A000007 ROBERT FLEMMING, INC.
020 B000007 13-3298866
020 C000007     44
020 A000008 CREDIT LYONNAIS SECURITIES (USA), INC.
020 B000008 13-5033225
020 C000008     42
020 A000009 CROSBY SECURITIES PTE LTD.
020 C000009     37
020 A000010 PEREGRINE BROKERAGE LTD.
020 C000010     34
021  000000     1603
022 A000001 B.T. SECURITIES CORP.
022 B000001 13-4941247
022 C000001   1215095
022 D000001         0
022 A000002 MORGAN J.P. SECURITIES, INC.
022 B000002 13-3224016
022 C000002     67435
<PAGE>      PAGE  3
022 D000002     69121
022 A000003 SWISS BANK CORP., NEW YORK
022 B000003 13-5424347
022 C000003     34728
022 D000003     59182
022 A000004 COMMERZBANK CAPITAL MARKETS CO.
022 C000004     19342
022 D000004     29129
022 A000005 STIRS O DONNELL
022 C000005     14950
022 D000005     13979
022 A000006 MORGAN GUARANTY TRUST CO. OF NEW YORK
022 B000006 13-5123346
022 C000006     28645
022 D000006         0
022 A000007 DRESDNER BANK AG BERLIN
022 C000007     13112
022 D000007         0
022 A000008 FIBA NORDIC SECURITIES
022 C000008     10320
022 D000008      2488
022 A000009 BXW SECURITIES, INC.
022 B000009 13-3297824
022 C000009      6180
022 D000009      5936
022 A000010 ABN AMRO SECURITIES (USA), INC.
022 C000010     11987
022 D000010         0
023 C000000    1474527
023 D000000     195380
026 A000000 Y
026 B000000 Y
026 C000000 Y
026 D000000 N
026 E000000 Y
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 Y
027  000000 Y
037  00AA00 N
038  00AA00      0
039  00AA00 N
040  00AA00 Y
041  00AA00 Y
049  00AA00 N
050  00AA00 N
051  00AA00 N
052  00AA00 N
053 A00AA00 Y
053 B00AA00 Y
<PAGE>      PAGE  4
053 C00AA00 N
054 A00AA00 N
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 N
054 I00AA00 N
054 J00AA00 N
054 K00AA00 N
054 L00AA00 N
054 M00AA00 N
054 N00AA00 N
054 O00AA00 N
055 A00AA00 Y
055 B00AA00 N
056  00AA00 N
057  00AA00 N
077 A000000 Y
077 B000000 Y
078  000000 N
080 A00AA00 THE AETNA CASUALTY AND SURETY COMPANY
080 B00AA00 ICI MUTUAL INSURANCE COMPANY
080 C00AA00    85000
081 A00AA00 Y
081 B00AA00  74
082 A00AA00 N
082 B00AA00        0
083 A00AA00 N
083 B00AA00        0
084 A00AA00 N
084 B00AA00        0
085 A00AA00 Y
085 B00AA00 N
015 A000101 STATE STREET BANK AND TRUST COMPANY
015 B000101 C
015 C010101 BOSTON
015 C020101 MA
015 C030101 02266
015 C040101 8600
015 E010101 X
015 A000102 PNC BANK, NA.
015 B000102 S
015 C010102 PITTSBURGH
015 C020102 PA
015 C030102 15265
015 E010102 X
015 A000103 NATIONSBANK OF NORTH CAROLINA
015 B000103 S
<PAGE>      PAGE  5
015 C010103 CHARLOTTE
015 C020103 NC
015 C030103 28255
015 E010103 X
015 A000104 MORGAN GUARANTY BANK & TRUST CO.
015 B000104 S
015 C010104 NEW YORK
015 C020104 NY
015 C030104 10015
015 E010104 X
015 A000105 THE CHASE MANHATTAN CORPORATION
015 B000105 S
015 C010105 NEW YORK
015 C020105 NY
015 C030105 10006
015 E010105 X
015 A000106 BANK OF NEW YORK
015 B000106 S
015 C010106 NEW YORK
015 C020106 NY
015 C030106 10006
015 E010106 X
015 A000107 BANKERS TRUST CO.
015 B000107 S
015 C010107 NEW YORK
015 C020107 NY
015 C030107 10015
015 E010107 X
015 A000108 CITIBANK N.A.
015 B000108 S
015 C010108 BUENOS AIRES
015 D010108 ARGENTINA
015 E040108 X
015 A000109 GIROCREDIT BANK AKTIENGELLSCHAFT DER SPARKASS
015 B000109 S
015 C010109 VIENNA
015 D010109 AUSTRIA
015 E040109 X
015 A000110 WESTPAC CUSTODIAN NOMINEE LTD.
015 B000110 S
015 C010110 SIDNEY
015 D010110 AUSTRILIA
015 D020110 2000
015 E040110 X
015 A000111 GENERALE DE BANQUE
015 B000111 S
015 C010111 BRUSSELS
015 D010111 BELGIUM
015 E040111 X
015 A000112 CITIBANK N.A.
015 B000112 S
<PAGE>      PAGE  6
015 C010112 SAO PAULO
015 D010112 BRAZIL
015 E040112 X
015 A000113 CANADA TRUST COMPANY
015 B000113 S
015 C010113 TORONTO, ONTARIO
015 D010113 CANADA
015 E040113 X
015 A000114 DEN DANSKE BANK
015 B000114 S
015 C010114 DK-1092 COPENHAGEN
015 D010114 DENMARK
015 E040114 X
015 A000115 MERITA BANK
015 B000115 S
015 C010115 00500 HELSINKI
015 D010115 FINLAND
015 E040115 X
015 A000116 BANQUE PARIBAS
015 B000116 S
015 C010116 75078 PARIS
015 D010116 FRANCE
015 E040116 X
015 A000117 HONGKONG & SHANGHAI BANKING CORP. LTD.
015 B000117 S
015 C010117 SHANGHAIRANKFURT AM
015 D010117 CHINANY
015 E040117 X
015 A000118 HONGKING & SHANGHAI BANKING CORP. LTD.
015 B000118 S
015 C010118 SHENZHEN
015 D010118 CHINA
015 E040118 X
015 A000119 ZESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B000119 S
015 C010119 PRAGUE
015 D010119 CZECH REPUBLIC
015 E040119 X
015 A000120 STANDARD CHARTERED BANK
015 B000120 S
015 C010120 HONG KONG
015 D010120 HONG KONG
015 E040120 X
015 A000121 UNION BANK OF SWITZERLAND
015 B000121 S
015 C010121 8021 ZURICH
015 D010121 SWITZERLAND
015 E040121 X
015 A000122 CITIBANK N.A.
015 B000122 S
015 C010122 SANTIAGO
<PAGE>      PAGE  7
015 D010122 CHILI
015 E040122 X
015 A000123 CITITURST, S.A.
015 B000123 S
015 C010123 SANTAFE DE BOGOTA
015 D010123 COLOMBIA
015 E040123 X
015 A000124 DRESDNER BANK AG
015 B000124 S
015 C010124 FRANKFURT
015 D010124 GERMANY
015 E040124 X
015 A000125 NATIONAL BANK OF GREECE
015 B000125 S
015 C010125 105 59
015 D010125 GREECE
015 E040125 X
015 A000126 CITIBANK BUDAPEST RT.
015 B000126 S
015 C010126 BUDAPEST
015 D010126 HUNGARY
015 E040126 X
015 A000127 STANDARD CHARTERED BANK MALAYSIA
015 B000127 S
015 C010127 50450 KUALA LUMPUR
015 D010127 MALAYSIA
015 E040127 X
015 A000128 CITIBANK N.A.
015 B000128 S
015 C010128 MEXICO CITY
015 D010128 MEXICO
015 D020128 D.F 06695
015 E040128 X
015 A000129 STANDARD CHARTERED BANK
015 B000129 S
015 C010129 JAKARTAK
015 D010129 INDONESIA
015 E040129 X
015 A000130 BANK OF IRELAND
015 B000130 S
015 C010130 DUBLIN 1
015 D010130 IRELAND
015 E040130 X
015 A000131 DEUTSCHE/HONG KONG SHANGHAI
015 B000131 S
015 C010131 BOMBAY
015 D010131 INDIA
015 E040131 X
015 A000132 MEES PIERSON N.V.
015 B000132 S
015 C010132 1000 AG AMSTERDAM
<PAGE>      PAGE  8
015 D010132 NETHERLANDS
015 E040132 X
015 A000133 ANZ NOMINEES LTD.
015 B000133 S
015 C010133 WELLINGTON
015 D010133 NEW ZEALAND
015 E040133 X
015 A000134 CHRISTIANIA BANK OF KREDITKASSE
015 B000134 S
015 C010134 0368 OSLO 3
015 D010134 NORWAY
015 E040134 X
015 A000135 DEUTSCHE BANK
015 B000135 S
015 C010135 KARACHI
015 D010135 PAKISTAN
015 D020135 74000
015 E040135 X
015 A000136 CITIBANK, N.A. LIMA
015 B000136 S
015 C010136 LIMA 27
015 D010136 PERU
015 E040136 X
015 A000137 STANDARD CHARTERED BANK
015 B000137 S
015 C010137 MAKATI,METRO MANILLA
015 D010137 THE PHILLIPPINES
015 E040137 X
015 A000138 BANK HAPOALIM B.M.
015 B000138 S
015 C010138 TEL AVIV
015 D010138 ISRAEL
015 E040138 X
015 A000139 BANK OF SEOUL
015 B000139 S
015 C010139 SEOUL
015 D010139 KOREA
015 E040139 X
015 A000140 BANCO COMMERCIAL PORTUGUES
015 B000140 S
015 C010140 LISBON
015 D010140 PORTUGAL
015 D020140 1000
015 E040140 X
015 A000141 J.P. MORGAN
015 B000141 S
015 C010141 20121 MILANOKHOLM
015 D010141 ITALY
015 E040141 X
015 A000142 SUMITOMO TRUST & BANK CO., LTD.
015 B000142 S
<PAGE>      PAGE  9
015 C010142 TOKYO
015 D010142 JAPAN
015 E040142 X
015 A000143 STANDARD CHARTERED BANK
015 B000143 S
015 C010143 BANGKOK
015 D010143 THAILAND
015 D020143 10500
015 E040143 X
015 A000144 CITIBANK, N.A.
015 B000144 S
015 C010144 ISTANBUL
015 D010144 TURKEY
015 E040144 X
015 A000145 CITIBANK N.A.
015 B000145 S
015 C010145 MONTEVIDEO
015 D010145 URUGUAY
015 D020145 11000
015 E040145 X
015 A000146 CITIBANK N.A.
015 B000146 S
015 C010146 CARACAS
015 D010146 VENEZUELA
015 D020146 1010
015 E040146 X
015 A000147 STATE STREET BANK & TRUST COMPANY
015 B000147 S
015 C010147 LONDON, ENGLAND
015 D010147 UNITED KINGDOM
015 D020147 E14 5AF
015 E040147 X
015 A000148 DEVELOPMENT BANK OF SINGAPORE
015 B000148 S
015 C010148 SINGAPORE
015 D010148 SINGAPORE
015 E040148 X
015 A000149 CESKOSLOVENSKA OBCHODNA BANKA A.S.
015 B000149 S
015 C010149 BRATISLAVA
015 D010149 SLOVAK REPUBLIC
015 E040149 X
015 A000150 CENTRAL TRUST OF CHINA
015 B000150 S
015 C010150 TAIPEI
015 D010150 TAIWAN
015 E040150 X
015 A000151 STANDARD BANK OF SOUTH AFRICA LIMITED
015 B000151 S
015 C010151 JOHANNESBURG
015 D010151 SOUTH AFRICA
<PAGE>      PAGE  10
015 E040151 X
024  000100 Y
025 A000101 NOMURA SECURITIES
025 C000101 E
025 D000101    1662
025 A000102 WAKO SECURITIES
025 C000102 E
025 D000102    1603
025 A000103 BARING SECURITIES
025 C000103 E
025 D000103    1198
025 D000104       0
025 D000105       0
025 D000106       0
025 D000107       0
025 D000108       0
028 A010100     10547
028 A020100         0
028 A030100         0
028 A040100      8705
028 B010100     12819
028 B020100         0
028 B030100         0
028 B040100     13064
028 C010100     10652
028 C020100         0
028 C030100         0
028 C040100     11578
028 D010100     11436
028 D020100         0
028 D030100         0
028 D040100     12876
028 E010100     10927
028 E020100         0
028 E030100         0
028 E040100     12233
028 F010100      9954
028 F020100         2
028 F030100         0
028 F040100     15786
028 G010100     66335
028 G020100         2
028 G030100         0
028 G040100     74242
028 H000100     35733
029  000100 Y
030 A000100    864
030 B000100  5.50
030 C000100  0.00
031 A000100     20
031 B000100      0
<PAGE>      PAGE  11
032  000100    843
033  000100      0
034  000100 Y
035  000100     72
036 A000100 N
036 B000100      0
042 A000100   0
042 B000100   0
042 C000100 100
042 D000100   0
042 E000100   0
042 F000100   0
042 G000100   0
042 H000100   0
043  000100    152
044  000100      0
045  000100 Y
046  000100 N
047  000100 Y
048  000100  1.000
048 A010100        0
048 A020100 0.000
048 B010100        0
048 B020100 0.000
048 C010100        0
048 C020100 0.000
048 D010100        0
048 D020100 0.000
048 E010100        0
048 E020100 0.000
048 F010100        0
048 F020100 0.000
048 G010100        0
048 G020100 0.000
048 H010100        0
048 H020100 0.000
048 I010100        0
048 I020100 0.000
048 J010100        0
048 J020100 0.000
048 K010100        0
048 K020100 0.000
058 A000100 N
059  000100 Y
060 A000100 Y
060 B000100 Y
061  000100      500
062 A000100 N
062 B000100   0.0
062 C000100   0.0
062 D000100   0.0
<PAGE>      PAGE  12
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   0.0
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   0
063 B000100  0.0
066 A000100 Y
066 B000100 N
066 C000100 N
066 D000100 N
066 E000100 N
066 F000100 N
066 G000100 Y
067  000100 N
068 A000100 N
068 B000100 Y
069  000100 N
070 A010100 Y
070 A020100 Y
070 B010100 Y
070 B020100 N
070 C010100 Y
070 C020100 N
070 D010100 Y
070 D020100 N
070 E010100 Y
070 E020100 N
070 F010100 Y
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 Y
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 N
070 L010100 Y
070 L020100 Y
<PAGE>      PAGE  13
070 M010100 Y
070 M020100 Y
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 Y
070 R020100 N
071 A000100    235723
071 B000100    248646
071 C000100    198087
071 D000100  119
072 A000100 12
072 B000100      128
072 C000100     3540
072 D000100        0
072 E000100        0
072 F000100     2004
072 G000100      185
072 H000100        0
072 I000100      306
072 J000100      341
072 K000100        0
072 L000100       56
072 M000100        7
072 N000100       39
072 O000100       61
072 P000100        0
072 Q000100       92
072 R000100       31
072 S000100       38
072 T000100      653
072 U000100        0
072 V000100        0
072 W000100       12
072 X000100     3825
072 Y000100      275
072 Z000100      118
072AA000100    13868
072BB000100     9736
072CC010100    11785
072CC020100        0
072DD010100      920
072DD020100        0
072EE000100    21487
073 A010100   0.0900
073 A020100   0.0000
<PAGE>      PAGE  14
073 B000100   1.8900
073 C000100   0.0000
074 A000100      400
074 B000100     2350
074 C000100        0
074 D000100      505
074 E000100     7397
074 F000100   191124
074 G000100        0
074 H000100        0
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074 J000100     3171
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074 L000100     1053
074 M000100        0
074 N000100   206000
074 O000100     8244
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074 R040100      532
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074 T000100   197224
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075 B000100   201092
076  000100     0.00
015 A000201 STATE STREET BANK AND TRUST COMPANY
015 B000201 C
015 C010201 BOSTON
015 C020201 MA
015 C030201 02266
015 C040201 8600
015 E010201 X
015 A000202 PNC BANK, NA
015 B000202 S
015 C010202 PITTSBURGH
015 C020202 PA
015 C030202 15265
015 E010202 X
015 A000203 NATIONSBANK OF NORTH CAROLINA
015 B000203 S
015 C010203 CHARLOTTE
<PAGE>      PAGE  15
015 C020203 NC
015 C030203 28255
015 E010203 X
015 A000204 MORGAN GUARANTY BANK & TRUST CO.
015 B000204 S
015 C010204 NEW YORK
015 C020204 NY
015 C030204 10015
015 E010204 X
015 A000205 THE CHASE MANHATTAN CORPORTATION
015 B000205 S
015 C010205 NEW YORK
015 C020205 NY
015 C030205 10006
015 E010205 X
015 A000206 BANK OF NEW YORK
015 B000206 S
015 C010206 NEW YORK
015 C020206 NY
015 C030206 10006
015 E010206 X
015 A000207 BANKERS TRUST CO.
015 B000207 S
015 C010207 NEW YORK
015 C020207 NY
015 C030207 10015
015 E010207 X
015 A000208 GIROCREDIT BANK AKTIENGELLSCHAFT DER SPARKASS
015 B000208 S
015 C010208 VIENNA
015 D010208 AUSTRIA
015 E040208 X
015 A000209 WESTPAC CUSTODIAN NOMINEE LTD
015 B000209 S
015 C010209 SIDNEY
015 D010209 AUSTRALIA
015 D020209 2000
015 E040209 X
015 A000210 GENERALE DE BANQUE
015 B000210 S
015 C010210 BRUSSELS
015 D010210 BELGIUM
015 E040210 X
015 A000211 CANADA TRUST COMPANY
015 B000211 S
015 C010211 TORONTO, ONTARIO
015 D010211 CANADA
015 E040211 X
015 A000212 UNION BANK OF SWITZERLAND
015 B000212 S
015 C010212 8021 ZURICH
<PAGE>      PAGE  16
015 D010212 SWITZERLAND
015 E040212 X
015 A000213 DRESDNER BANK AG
015 B000213 S
015 C010213 FRANKFURT
015 D010213 GERMANY
015 E040213 X
015 A000214 DEN DANSKE BANK
015 B000214 S
015 C010214 DK-1092 COPENHAGEN
015 D010214 DENMARK
015 E040214 X
015 A000215 BANCO SANTANDER
015 B000215 S
015 C010215 28022 MADRID
015 D010215 SPAIN
015 E040215 X
015 A000216 MERITA BANK
015 B000216 S
015 C010216 00500 HELSINKI
015 D010216 FINLAND
015 E040216 X
015 A000217 BANQUE PARIBAS
015 B000217 S
015 C010217 75078 PARIS
015 D010217 FRANCE
015 E040217 X
015 A000218 NATIONAL BANK OF GREECE
015 B000218 S
015 C010218 105 59 ATHENS
015 D010218 GREECE
015 E040218 X
015 A000219 STANDARD CHARTERED BANK
015 B000219 S
015 C010219 HONG KONG
015 D010219 HONG KONG
015 E040219 X
015 A000220 BANK OF IRELAND
015 B000220 S
015 C010220 DUBLIN 1
015 D010220 IRELAND
015 E040220 X
015 A000221 J.P. MORGAN
015 B000221 S
015 C010221 20121 MILANO
015 D010221 ITALY
015 E040221 X
015 A000222 SUMITOMO TRUST & BANK CO., LTD.
015 B000222 S
015 C010222 TOKYO
015 D010222 JAPAN
<PAGE>      PAGE  17
015 E040222 X
015 A000223 STATE STREET BANK & TRUST COMPANY
015 B000223 S
015 C010223 LONDON, ENGLAND
015 D010223 UNITED KINGDOM
015 D020223 E14 5AF
015 E040223 X
015 A000224 CITIBANK N.A.
015 B000224 S
015 C010224 MEXICO CITY
015 D010224 MEXICO
015 D020224 D.F. 06695
015 E040224 X
015 A000225 CHRISTIANIA BANK OF KREDITKASSE
015 B000225 S
015 C010225 0368 OSLO 3
015 D010225 NORWAY
015 E040225 X
015 A000226 MEES PIERSON N.V.
015 B000226 S
015 C010226 1000 AG AMSTERDAM
015 D010226 NETHERLANDS
015 E040226 X
015 A000227 ANZ NOMINEES LTD.
015 B000227 S
015 C010227 WELLINGTON
015 D010227 NEW ZEALAND
015 E040227 X
015 A000228 BANCO COMMERICIAL PORTUGUES
015 B000228 S
015 C010228 LISBON
015 D010228 PORTUGAL
015 D020228 1000
015 E040228 X
015 A000229 SKANDINAVISKA ENSKILDA BANKEN
015 B000229 S
015 C010229 S-10640 STOCKHOLM
015 D010229 SWEDEN
015 E040229 X
015 A000230 CITIBANK, N.A.
015 B000230 S
015 C010230 ISTANBUL
015 D010230 TURKEY
015 E040230 X
024  000200 N
025 D000201       0
025 D000202       0
025 D000203       0
025 D000204       0
025 D000205       0
025 D000206       0
<PAGE>      PAGE  18
025 D000207       0
025 D000208       0
028 A010200      7683
028 A020200      1260
028 A030200         0
028 A040200      6858
028 B010200      8349
028 B020200         0
028 B030200         0
028 B040200      5236
028 C010200      4320
028 C020200         0
028 C030200         0
028 C040200      3120
028 D010200      4740
028 D020200      1355
028 D030200         0
028 D040200      4432
028 E010200      6355
028 E020200         0
028 E030200         0
028 E040200      6207
028 F010200     10361
028 F020200         0
028 F030200         0
028 F040200      3775
028 G010200     41808
028 G020200      2615
028 G030200         0
028 G040200     29629
028 H000200     38125
029  000200 Y
030 A000200    472
030 B000200  4.50
030 C000200  0.00
031 A000200      8
031 B000200      0
032  000200    464
033  000200      0
034  000200 Y
035  000200     19
036 A000200 N
036 B000200      0
042 A000200   0
042 B000200   0
042 C000200 100
042 D000200   0
042 E000200   0
042 F000200   0
042 G000200   0
042 H000200   0
<PAGE>      PAGE  19
043  000200    269
044  000200      0
045  000200 Y
046  000200 N
047  000200 Y
048  000200  0.750
048 A010200        0
048 A020200 0.000
048 B010200        0
048 B020200 0.000
048 C010200        0
048 C020200 0.000
048 D010200        0
048 D020200 0.000
048 E010200        0
048 E020200 0.000
048 F010200        0
048 F020200 0.000
048 G010200        0
048 G020200 0.000
048 H010200        0
048 H020200 0.000
048 I010200        0
048 I020200 0.000
048 J010200        0
048 J020200 0.000
048 K010200        0
048 K020200 0.000
058 A000200 N
059  000200 Y
060 A000200 N
060 B000200 N
061  000200      500
062 A000200 Y
062 B000200   0.0
062 C000200   0.0
062 D000200   3.0
062 E000200   0.0
062 F000200   0.0
062 G000200   0.0
062 H000200   0.0
062 I000200   0.0
062 J000200   0.0
062 K000200   0.0
062 L000200   0.0
062 M000200   0.0
062 N000200   0.0
062 O000200   0.0
062 P000200   0.0
062 Q000200  93.9
062 R000200   0.0
<PAGE>      PAGE  20
063 A000200   0
063 B000200  9.0
064 A000200 N
064 B000200 N
066 A000200 N
067  000200 N
068 A000200 N
068 B000200 Y
069  000200 N
070 A010200 Y
070 A020200 Y
070 B010200 Y
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 Y
070 D020200 N
070 E010200 Y
070 E020200 N
070 F010200 Y
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 Y
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 N
070 L010200 Y
070 L020200 Y
070 M010200 Y
070 M020200 Y
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 Y
070 R020200 N
071 A000200    200450
071 B000200    172813
071 C000200    188510
071 D000200   92
072 A000200 12
072 B000200    15521
<PAGE>      PAGE  21
072 C000200        0
072 D000200        0
072 E000200        0
072 F000200     1476
072 G000200      185
072 H000200        0
072 I000200      102
072 J000200      169
072 K000200        0
072 L000200       49
072 M000200        7
072 N000200       43
072 O000200       32
072 P000200        0
072 Q000200       85
072 R000200       49
072 S000200       38
072 T000200     1070
072 U000200        0
072 V000200        0
072 W000200       10
072 X000200     3315
072 Y000200      611
072 Z000200    12817
072AA000200    18034
072BB000200     6379
072CC010200      587
072CC020200        0
072DD010200    13679
072DD020200     1107
072EE000200        0
073 A010200   0.0000
073 A020200   0.0000
073 B000200   0.0000
073 C000200   0.0000
074 A000200      141
074 B000200     6835
074 C000200        0
074 D000200   210617
074 E000200        0
074 F000200        0
074 G000200        0
074 H000200        0
074 I000200        0
074 J000200        0
074 K000200        0
074 L000200     6995
074 M000200        0
074 N000200   224588
074 O000200        0
074 P000200        0
<PAGE>      PAGE  22
074 Q000200        0
074 R010200        0
074 R020200        0
074 R030200        0
074 R040200      213
074 S000200        0
074 T000200   224375
074 U010200    16848
074 U020200     1986
074 V010200     0.00
074 V020200     0.00
074 W000200   0.0000
074 X000200     2496
074 Y000200        0
075 A000200        0
075 B000200   197388
076  000200     0.00
SIGNATURE   S. ELLIOTT COHAN                             
TITLE       ASST. GEN. COUNSEL  
 


<TABLE> <S> <C>

                                                                               
<S>                             <C>                                            
                                                                               
<ARTICLE>                       6                                              
<SERIES>                                                                       
     <NUMBER>                   011                                            
     <NAME>                     International Series, Inc.                     
                                Federated International Equity Fund            
                                Class A Shares                                 
<PERIOD-TYPE>                   12-MOS                                         
<FISCAL-YEAR-END>               Nov-30-1996                                    
<PERIOD-END>                    Nov-30-1996                                    
<INVESTMENTS-AT-COST>           183,164,318                                    
<INVESTMENTS-AT-VALUE>          201,376,065                                    
<RECEIVABLES>                   4,223,711                                      
<ASSETS-OTHER>                  400,555                                        
<OTHER-ITEMS-ASSETS>            0                                              
<TOTAL-ASSETS>                  206,000,331                                    
<PAYABLE-FOR-SECURITIES>        8,243,946                                      
<SENIOR-LONG-TERM-DEBT>         0                                              
<OTHER-ITEMS-LIABILITIES>       532,049                                        
<TOTAL-LIABILITIES>             8,775,995                                      
<SENIOR-EQUITY>                 0                                              
<PAID-IN-CAPITAL-COMMON>        174,869,114                                    
<SHARES-COMMON-STOCK>           9,982,601                                      
<SHARES-COMMON-PRIOR>           10,725,577                                     
<ACCUMULATED-NII-CURRENT>       0                                              
<OVERDISTRIBUTION-NII>          862,540                                        
<ACCUMULATED-NET-GAINS>         5,004,870                                      
<OVERDISTRIBUTION-GAINS>        0                                              
<ACCUM-APPREC-OR-DEPREC>        18,212,892                                     
<NET-ASSETS>                    172,937,556                                    
<DIVIDEND-INCOME>               3,539,771                                      
<INTEREST-INCOME>               127,931                                        
<OTHER-INCOME>                  0                                              
<EXPENSES-NET>                  3,549,892                                      
<NET-INVESTMENT-INCOME>         117,810                                        
<REALIZED-GAINS-CURRENT>        4,131,728                                      
<APPREC-INCREASE-CURRENT>       11,785,397                                     
<NET-CHANGE-FROM-OPS>           16,034,935                                     
<EQUALIZATION>                  0                                              
<DISTRIBUTIONS-OF-INCOME>       919,568                                        
<DISTRIBUTIONS-OF-GAINS>        19,980,524                                     
<DISTRIBUTIONS-OTHER>           0                                              
<NUMBER-OF-SHARES-SOLD>         7,740,149                                      
<NUMBER-OF-SHARES-REDEEMED>     9,162,907                                      
<SHARES-REINVESTED>             679,782                                        
<NET-CHANGE-IN-ASSETS>          (8,203,565)                                    
<ACCUMULATED-NII-PRIOR>         863,049                                        
<ACCUMULATED-GAINS-PRIOR>       21,471,982                                     
<OVERDISTRIB-NII-PRIOR>         0                                              
<OVERDIST-NET-GAINS-PRIOR>      0                                              
<GROSS-ADVISORY-FEES>           2,004,435                                      
<INTEREST-EXPENSE>              0                                              
<GROSS-EXPENSE>                 3,824,996                                      
<AVERAGE-NET-ASSETS>            201,091,618                                    
<PER-SHARE-NAV-BEGIN>           17.890                                         
<PER-SHARE-NII>                 0.030                                          
<PER-SHARE-GAIN-APPREC>         1.380                                          
<PER-SHARE-DIVIDEND>            0.090                                          
<PER-SHARE-DISTRIBUTIONS>       1.890                                          
<RETURNS-OF-CAPITAL>            0.000                                          
<PER-SHARE-NAV-END>             17.320                                         
<EXPENSE-RATIO>                 1.68                                           
<AVG-DEBT-OUTSTANDING>          0                                              
<AVG-DEBT-PER-SHARE>            0.000                                          
                                                                               

</TABLE>

<TABLE> <S> <C>

                                                                               
<S>                             <C>                                            
                                                                               
<ARTICLE>                       6                                              
<SERIES>                                                                       
     <NUMBER>                   012                                            
     <NAME>                     International Series, Inc.                     
                                Federated International Equity Fund            
                                Class B Shares                                 
<PERIOD-TYPE>                   12-MOS                                         
<FISCAL-YEAR-END>               Nov-30-1996                                    
<PERIOD-END>                    Nov-30-1996                                    
<INVESTMENTS-AT-COST>           183,164,318                                    
<INVESTMENTS-AT-VALUE>          201,376,065                                    
<RECEIVABLES>                   4,223,711                                      
<ASSETS-OTHER>                  400,555                                        
<OTHER-ITEMS-ASSETS>            0                                              
<TOTAL-ASSETS>                  206,000,331                                    
<PAYABLE-FOR-SECURITIES>        8,243,946                                      
<SENIOR-LONG-TERM-DEBT>         0                                              
<OTHER-ITEMS-LIABILITIES>       532,049                                        
<TOTAL-LIABILITIES>             8,775,995                                      
<SENIOR-EQUITY>                 0                                              
<PAID-IN-CAPITAL-COMMON>        174,869,114                                    
<SHARES-COMMON-STOCK>           980,572                                        
<SHARES-COMMON-PRIOR>           359,853                                        
<ACCUMULATED-NII-CURRENT>       0                                              
<OVERDISTRIBUTION-NII>          862,540                                        
<ACCUMULATED-NET-GAINS>         5,004,870                                      
<OVERDISTRIBUTION-GAINS>        0                                              
<ACCUM-APPREC-OR-DEPREC>        18,212,892                                     
<NET-ASSETS>                    16,707,131                                     
<DIVIDEND-INCOME>               3,539,771                                      
<INTEREST-INCOME>               127,931                                        
<OTHER-INCOME>                  0                                              
<EXPENSES-NET>                  3,549,892                                      
<NET-INVESTMENT-INCOME>         117,810                                        
<REALIZED-GAINS-CURRENT>        4,131,728                                      
<APPREC-INCREASE-CURRENT>       11,785,397                                     
<NET-CHANGE-FROM-OPS>           16,034,935                                     
<EQUALIZATION>                  0                                              
<DISTRIBUTIONS-OF-INCOME>       194                                            
<DISTRIBUTIONS-OF-GAINS>        726,598                                        
<DISTRIBUTIONS-OTHER>           0                                              
<NUMBER-OF-SHARES-SOLD>         728,125                                        
<NUMBER-OF-SHARES-REDEEMED>     147,816                                        
<SHARES-REINVESTED>             40,410                                         
<NET-CHANGE-IN-ASSETS>          8,203,565                                      
<ACCUMULATED-NII-PRIOR>         863,049                                        
<ACCUMULATED-GAINS-PRIOR>       21,471,982                                     
<OVERDISTRIB-NII-PRIOR>         0                                              
<OVERDIST-NET-GAINS-PRIOR>      0                                              
<GROSS-ADVISORY-FEES>           2,004,435                                      
<INTEREST-EXPENSE>              0                                              
<GROSS-EXPENSE>                 3,824,996                                      
<AVERAGE-NET-ASSETS>            201,091,618                                    
<PER-SHARE-NAV-BEGIN>           17.570                                         
<PER-SHARE-NII>                 (0.040)                                        
<PER-SHARE-GAIN-APPREC>         1.270                                          
<PER-SHARE-DIVIDEND>            0.000                                          
<PER-SHARE-DISTRIBUTIONS>       1.890                                          
<RETURNS-OF-CAPITAL>            0.000                                          
<PER-SHARE-NAV-END>             17.040                                         
<EXPENSE-RATIO>                 2.59                                           
<AVG-DEBT-OUTSTANDING>          0                                              
<AVG-DEBT-PER-SHARE>            0.000                                          
                                                                               

</TABLE>

<TABLE> <S> <C>

                                                                               
<S>                             <C>                                            
                                                                               
<ARTICLE>                       6                                              
<SERIES>                                                                       
     <NUMBER>                   013                                            
     <NAME>                     International Series, Inc.                     
                                Federated International Equity Fund            
                                Class C Shares                                 
<PERIOD-TYPE>                   12-MOS                                         
<FISCAL-YEAR-END>               Nov-30-1996                                    
<PERIOD-END>                    Nov-30-1996                                    
<INVESTMENTS-AT-COST>           183,164,318                                    
<INVESTMENTS-AT-VALUE>          201,376,065                                    
<RECEIVABLES>                   4,223,711                                      
<ASSETS-OTHER>                  400,555                                        
<OTHER-ITEMS-ASSETS>            0                                              
<TOTAL-ASSETS>                  206,000,331                                    
<PAYABLE-FOR-SECURITIES>        8,243,946                                      
<SENIOR-LONG-TERM-DEBT>         0                                              
<OTHER-ITEMS-LIABILITIES>       532,049                                        
<TOTAL-LIABILITIES>             8,775,995                                      
<SENIOR-EQUITY>                 0                                              
<PAID-IN-CAPITAL-COMMON>        174,869,114                                    
<SHARES-COMMON-STOCK>           449,814                                        
<SHARES-COMMON-PRIOR>           408,295                                        
<ACCUMULATED-NII-CURRENT>       0                                              
<OVERDISTRIBUTION-NII>          862,540                                        
<ACCUMULATED-NET-GAINS>         5,004,870                                      
<OVERDISTRIBUTION-GAINS>        0                                              
<ACCUM-APPREC-OR-DEPREC>        18,212,892                                     
<NET-ASSETS>                    7,579,649                                      
<DIVIDEND-INCOME>               3,539,771                                      
<INTEREST-INCOME>               127,931                                        
<OTHER-INCOME>                  0                                              
<EXPENSES-NET>                  3,549,892                                      
<NET-INVESTMENT-INCOME>         117,810                                        
<REALIZED-GAINS-CURRENT>        4,131,728                                      
<APPREC-INCREASE-CURRENT>       11,785,397                                     
<NET-CHANGE-FROM-OPS>           16,034,935                                     
<EQUALIZATION>                  0                                              
<DISTRIBUTIONS-OF-INCOME>       155                                            
<DISTRIBUTIONS-OF-GAINS>        780,198                                        
<DISTRIBUTIONS-OTHER>           0                                              
<NUMBER-OF-SHARES-SOLD>         177,534                                        
<NUMBER-OF-SHARES-REDEEMED>     166,212                                        
<SHARES-REINVESTED>             30,197                                         
<NET-CHANGE-IN-ASSETS>          8,203,565                                      
<ACCUMULATED-NII-PRIOR>         863,049                                        
<ACCUMULATED-GAINS-PRIOR>       21,471,982                                     
<OVERDISTRIB-NII-PRIOR>         0                                              
<OVERDIST-NET-GAINS-PRIOR>      0                                              
<GROSS-ADVISORY-FEES>           2,004,435                                      
<INTEREST-EXPENSE>              0                                              
<GROSS-EXPENSE>                 3,824,996                                      
<AVERAGE-NET-ASSETS>            201,091,618                                    
<PER-SHARE-NAV-BEGIN>           17.500                                         
<PER-SHARE-NII>                 (0.100)                                        
<PER-SHARE-GAIN-APPREC>         1.340                                          
<PER-SHARE-DIVIDEND>            0.000                                          
<PER-SHARE-DISTRIBUTIONS>       1.890                                          
<RETURNS-OF-CAPITAL>            0.000                                          
<PER-SHARE-NAV-END>             16.850                                         
<EXPENSE-RATIO>                 2.57                                           
<AVG-DEBT-OUTSTANDING>          0                                              
<AVG-DEBT-PER-SHARE>            0.000                                          
                                                                               

</TABLE>

<TABLE> <S> <C>

                                                                               
<S>                             <C>                                            
                                                                               
<ARTICLE>                       6                                              
<SERIES>                                                                       
     <NUMBER>                   021                                            
     <NAME>                     International Series, Inc.                     
                                Federated International Income Fund            
                                Class A Shares                                 
<PERIOD-TYPE>                   12-MOS                                         
<FISCAL-YEAR-END>               Nov-30-1996                                    
<PERIOD-END>                    Nov-30-1996                                    
<INVESTMENTS-AT-COST>           203,826,204                                    
<INVESTMENTS-AT-VALUE>          217,451,536                                    
<RECEIVABLES>                   6,995,466                                      
<ASSETS-OTHER>                  141,313                                        
<OTHER-ITEMS-ASSETS>            0                                              
<TOTAL-ASSETS>                  224,588,315                                    
<PAYABLE-FOR-SECURITIES>        0                                              
<SENIOR-LONG-TERM-DEBT>         0                                              
<OTHER-ITEMS-LIABILITIES>       213,497                                        
<TOTAL-LIABILITIES>             213,497                                        
<SENIOR-EQUITY>                 0                                              
<PAID-IN-CAPITAL-COMMON>        220,365,583                                    
<SHARES-COMMON-STOCK>           16,848,333                                     
<SHARES-COMMON-PRIOR>           15,276,429                                     
<ACCUMULATED-NII-CURRENT>       5,287,565                                      
<OVERDISTRIBUTION-NII>          0                                              
<ACCUMULATED-NET-GAINS>         (14,956,181)                                   
<OVERDISTRIBUTION-GAINS>        0                                              
<ACCUM-APPREC-OR-DEPREC>        13,677,851                                     
<NET-ASSETS>                    200,757,508                                    
<DIVIDEND-INCOME>               0                                              
<INTEREST-INCOME>               15,520,503                                     
<OTHER-INCOME>                  0                                              
<EXPENSES-NET>                  2,703,757                                      
<NET-INVESTMENT-INCOME>         12,816,746                                     
<REALIZED-GAINS-CURRENT>        11,654,540                                     
<APPREC-INCREASE-CURRENT>       587,187                                        
<NET-CHANGE-FROM-OPS>           25,058,473                                     
<EQUALIZATION>                  0                                              
<DISTRIBUTIONS-OF-INCOME>       13,679,429                                     
<DISTRIBUTIONS-OF-GAINS>        0                                              
<DISTRIBUTIONS-OTHER>           0                                              
<NUMBER-OF-SHARES-SOLD>         6,869,642                                      
<NUMBER-OF-SHARES-REDEEMED>     5,739,277                                      
<SHARES-REINVESTED>             441,539                                        
<NET-CHANGE-IN-ASSETS>          37,331,994                                     
<ACCUMULATED-NII-PRIOR>         4,448,761                                      
<ACCUMULATED-GAINS-PRIOR>       (20,978,654)                                   
<OVERDISTRIB-NII-PRIOR>         0                                              
<OVERDIST-NET-GAINS-PRIOR>      0                                              
<GROSS-ADVISORY-FEES>           1,476,050                                      
<INTEREST-EXPENSE>              0                                              
<GROSS-EXPENSE>                 3,315,024                                      
<AVERAGE-NET-ASSETS>            197,387,503                                    
<PER-SHARE-NAV-BEGIN>           11.380                                         
<PER-SHARE-NII>                 0.740                                          
<PER-SHARE-GAIN-APPREC>         0.670                                          
<PER-SHARE-DIVIDEND>            0.870                                          
<PER-SHARE-DISTRIBUTIONS>       0.000                                          
<RETURNS-OF-CAPITAL>            0.000                                          
<PER-SHARE-NAV-END>             11.920                                         
<EXPENSE-RATIO>                 1.30                                           
<AVG-DEBT-OUTSTANDING>          0                                              
<AVG-DEBT-PER-SHARE>            0.000                                          
                                                                               

</TABLE>

<TABLE> <S> <C>

                                                                               
<S>                             <C>                                            
                                                                               
<ARTICLE>                       6                                              
<SERIES>                                                                       
     <NUMBER>                   022                                            
     <NAME>                     International Series, Inc.                     
                                Federated International Income Fund            
                                Class B Shares                                 
<PERIOD-TYPE>                   12-MOS                                         
<FISCAL-YEAR-END>               Nov-30-1996                                    
<PERIOD-END>                    Nov-30-1996                                    
<INVESTMENTS-AT-COST>           203,826,204                                    
<INVESTMENTS-AT-VALUE>          217,451,536                                    
<RECEIVABLES>                   6,995,466                                      
<ASSETS-OTHER>                  141,313                                        
<OTHER-ITEMS-ASSETS>            0                                              
<TOTAL-ASSETS>                  224,588,315                                    
<PAYABLE-FOR-SECURITIES>        0                                              
<SENIOR-LONG-TERM-DEBT>         0                                              
<OTHER-ITEMS-LIABILITIES>       213,497                                        
<TOTAL-LIABILITIES>             213,497                                        
<SENIOR-EQUITY>                 0                                              
<PAID-IN-CAPITAL-COMMON>        220,365,583                                    
<SHARES-COMMON-STOCK>           726,640                                        
<SHARES-COMMON-PRIOR>           98,831                                         
<ACCUMULATED-NII-CURRENT>       5,287,565                                      
<OVERDISTRIBUTION-NII>          0                                              
<ACCUMULATED-NET-GAINS>         (14,956,181)                                   
<OVERDISTRIBUTION-GAINS>        0                                              
<ACCUM-APPREC-OR-DEPREC>        13,677,851                                     
<NET-ASSETS>                    8,640,964                                      
<DIVIDEND-INCOME>               0                                              
<INTEREST-INCOME>               15,520,503                                     
<OTHER-INCOME>                  0                                              
<EXPENSES-NET>                  2,703,757                                      
<NET-INVESTMENT-INCOME>         12,816,746                                     
<REALIZED-GAINS-CURRENT>        11,654,540                                     
<APPREC-INCREASE-CURRENT>       587,187                                        
<NET-CHANGE-FROM-OPS>           25,058,473                                     
<EQUALIZATION>                  0                                              
<DISTRIBUTIONS-OF-INCOME>       229,103                                        
<DISTRIBUTIONS-OF-GAINS>        0                                              
<DISTRIBUTIONS-OTHER>           0                                              
<NUMBER-OF-SHARES-SOLD>         660,138                                        
<NUMBER-OF-SHARES-REDEEMED>     46,135                                         
<SHARES-REINVESTED>             13,806                                         
<NET-CHANGE-IN-ASSETS>          37,331,994                                     
<ACCUMULATED-NII-PRIOR>         4,448,761                                      
<ACCUMULATED-GAINS-PRIOR>       (20,978,654)                                   
<OVERDISTRIB-NII-PRIOR>         0                                              
<OVERDIST-NET-GAINS-PRIOR>      0                                              
<GROSS-ADVISORY-FEES>           1,476,050                                      
<INTEREST-EXPENSE>              0                                              
<GROSS-EXPENSE>                 3,315,024                                      
<AVERAGE-NET-ASSETS>            197,387,503                                    
<PER-SHARE-NAV-BEGIN>           11.360                                         
<PER-SHARE-NII>                 0.840                                          
<PER-SHARE-GAIN-APPREC>         0.480                                          
<PER-SHARE-DIVIDEND>            0.790                                          
<PER-SHARE-DISTRIBUTIONS>       0.000                                          
<RETURNS-OF-CAPITAL>            0.000                                          
<PER-SHARE-NAV-END>             11.890                                         
<EXPENSE-RATIO>                 2.11                                           
<AVG-DEBT-OUTSTANDING>          0                                              
<AVG-DEBT-PER-SHARE>            0.000                                          
                                                                               

</TABLE>

<TABLE> <S> <C>

                                                                               
<S>                             <C>                                            
                                                                               
<ARTICLE>                       6                                              
<SERIES>                                                                       
     <NUMBER>                   023                                            
     <NAME>                     International Series, Inc.                     
                                Federated International Income Fund            
                                Class C Shares                                 
<PERIOD-TYPE>                   12-MOS                                         
<FISCAL-YEAR-END>               Nov-30-1996                                    
<PERIOD-END>                    Nov-30-1996                                    
<INVESTMENTS-AT-COST>           203,826,204                                    
<INVESTMENTS-AT-VALUE>          217,451,536                                    
<RECEIVABLES>                   6,995,466                                      
<ASSETS-OTHER>                  141,313                                        
<OTHER-ITEMS-ASSETS>            0                                              
<TOTAL-ASSETS>                  224,588,315                                    
<PAYABLE-FOR-SECURITIES>        0                                              
<SENIOR-LONG-TERM-DEBT>         0                                              
<OTHER-ITEMS-LIABILITIES>       213,497                                        
<TOTAL-LIABILITIES>             213,497                                        
<SENIOR-EQUITY>                 0                                              
<PAID-IN-CAPITAL-COMMON>        220,365,583                                    
<SHARES-COMMON-STOCK>           1,259,204                                      
<SHARES-COMMON-PRIOR>           1,057,972                                      
<ACCUMULATED-NII-CURRENT>       5,287,565                                      
<OVERDISTRIBUTION-NII>          0                                              
<ACCUMULATED-NET-GAINS>         (14,956,181)                                   
<OVERDISTRIBUTION-GAINS>        0                                              
<ACCUM-APPREC-OR-DEPREC>        13,677,851                                     
<NET-ASSETS>                    14,976,346                                     
<DIVIDEND-INCOME>               0                                              
<INTEREST-INCOME>               15,520,503                                     
<OTHER-INCOME>                  0                                              
<EXPENSES-NET>                  2,703,757                                      
<NET-INVESTMENT-INCOME>         12,816,746                                     
<REALIZED-GAINS-CURRENT>        11,654,540                                     
<APPREC-INCREASE-CURRENT>       587,187                                        
<NET-CHANGE-FROM-OPS>           25,058,473                                     
<EQUALIZATION>                  0                                              
<DISTRIBUTIONS-OF-INCOME>       878,043                                        
<DISTRIBUTIONS-OF-GAINS>        0                                              
<DISTRIBUTIONS-OTHER>           0                                              
<NUMBER-OF-SHARES-SOLD>         325,894                                        
<NUMBER-OF-SHARES-REDEEMED>     191,747                                        
<SHARES-REINVESTED>             67,085                                         
<NET-CHANGE-IN-ASSETS>          37,331,994                                     
<ACCUMULATED-NII-PRIOR>         4,448,761                                      
<ACCUMULATED-GAINS-PRIOR>       (20,978,654)                                   
<OVERDISTRIB-NII-PRIOR>         0                                              
<OVERDIST-NET-GAINS-PRIOR>      0                                              
<GROSS-ADVISORY-FEES>           1,476,050                                      
<INTEREST-EXPENSE>              0                                              
<GROSS-EXPENSE>                 3,315,024                                      
<AVERAGE-NET-ASSETS>            197,387,503                                    
<PER-SHARE-NAV-BEGIN>           11.360                                         
<PER-SHARE-NII>                 0.650                                          
<PER-SHARE-GAIN-APPREC>         0.660                                          
<PER-SHARE-DIVIDEND>            0.780                                          
<PER-SHARE-DISTRIBUTIONS>       0.000                                          
<RETURNS-OF-CAPITAL>            0.000                                          
<PER-SHARE-NAV-END>             11.890                                         
<EXPENSE-RATIO>                 2.09                                           
<AVG-DEBT-OUTSTANDING>          0                                              
<AVG-DEBT-PER-SHARE>            0.000                                          
                                                                               

</TABLE>


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