KEYSTONE AMERICA OMEGA FUND INC /MA/
485BPOS, 1995-05-26
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<PAGE>


       AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION MAY 26, 1995.

                                                              File Nos. 33-28183
                                                                        811-1600

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM N-1A

            REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

   Pre-Effective Amendment No.    --                                         ---
   Post-Effective Amendment No.   25                                         [X]

                                      and

        REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940

   Amendment No.   29                                                        [X]

                       KEYSTONE AMERICA OMEGA FUND, INC.
               (Exact Name of Registrant as Specified in Charter)


             200 Berkeley Street, Boston, Massachusetts 02116-5034
              (Address of Principal Executive Offices) (Zip Code)

              Registrant's Telephone Number, including Area Code:
                                 (617) 338-3200

              Rosemary D. Van Antwerp, Esq., 200 Berkeley Street,
                             Boston, MA 02116-5034
                    (Name and Address of Agent for Service)

It is proposed that this filing will become effective:

[X]      immediately upon filing pursuant to paragraph (b) of Rule 485

___      on (date) pursuant to paragraph (b) of Rule 485

___      60 days after filing pursuant to paragraph (a)(i) of Rule 485

___      on (date) pursuant to paragraph (a)(i) of Rule 485

___      75 days after filing pursuant to paragraph (a)(ii) of Rule 485

___      on (date) pursuant to paragraph (a)(ii) of Rule 485

         The Registrant has filed a declaration pursuant to Rule 24f-2 under the
Investment Company Act of 1940. A Rule 24f-2 Notice for Registrant's last fiscal
year was filed on January 26, 1995.


<PAGE>

                       KEYSTONE AMERICA OMEGA FUND, INC.

                                  CONTENTS OF
                        POST-EFFECTIVE AMENDMENT NO. 25
                                       to
                             REGISTRATION STATEMENT

This   Post-Effective   Amendment   No.  25  to   Registration   Statement   No.
33-28183/811-1600  consists of the following  pages,  items of information,  and
documents:


                                The Facing Sheet

                               The Contents Page

                           The Cross-Reference Sheet


                                     PART A

                                   Prospectus
(Filed  with  Post-Effective  Amendment  No. 24 to  Registration  Statement  No.
33-28183/811-1600 and is incorporated by reference herein.)


                                     PART B

                      Statement of Additional Information
(Filed  with  Post-Effective  Amendment  No. 24 to  Registration  Statement  No.
33-28183/811-1600 and is incorporated by reference herein.)


                                     PART C

               PART C - OTHER INFORMATION - ITEM 24(a) and 24(b)
(Filed  with  Post-Effective  Amendment  No. 24 to  Registration  Statement  No.
33-28183/811-1600 and is incorporated by reference herein.)

                              Financial Statements
(Filed  with  Post-Effective  Amendment  No. 24 to  Registration  Statement  No.
33-28183/811-1600 and is incorporated by reference herein.)

                          Independent Auditors' Report
(Filed  with  Post-Effective  Amendment  No. 24 to  Registration  Statement  No.
33-28183/811-1600 and is incorporated by reference herein.)

                              Listing of Exhibits

<PAGE>


(Contents Page continued)


          PART C - OTHER INFORMATION - ITEMS 25-32 and SIGNATURE PAGES

                        Number of Holders of Securities

                                Indemnification

                         Business and Other Connections

                             Principal Underwriter

                        Location of Accounts and Records

                                   Signatures

                    Exhibits (including Powers of Attorney)



<PAGE>


                       KEYSTONE AMERICA OMEGA FUND, INC.

Cross-Reference  Sheet pursuant to Rules 404 and 495 under the Securities Act of
1933.


Items in
Part A of
Form N-1A           Prospectus Caption
- ---------           ------------------

(Filed  with  Post-Effective  Amendment  No. 24 to  Registration  Statement  No.
33-28183/811-1600 and is incorporated by reference herein.)

    1               Cover Page

    2               Fee Table

    3               Financial Highlights
                    Performance Data

    4               Cover Page
                    The Fund
                    Investment Objective and Policies
                    Investment Restrictions
                    Risk Factors

    5               Fund Management and Expenses
                    Additional Information

    5A              Not Applicable

    6               The Fund
                    Dividends and Taxes
                    Fund Shares
                    Shareholder Services
                    Pricing Shares

    7               How to Buy Shares
                    Distribution Plans
                    Shareholder Services

    8               How to Redeem Shares

    9               Not Applicable



<PAGE>


Cross-Reference Sheet continued.


Items in
Part B of
Form N-1A           Statement of Additional Information Caption
- ---------           --------------------------------------------

(Filed  with  Post-Effective  Amendment  No. 24 to  Registration  Statement  No.
3-28183/811-1600 and is incorporated by reference herein.)

   10               Cover Page

   11               Table of Contents

   12               Not Applicable

   13               The Fund
                    Investment Restrictions
                    Brokerage
                    Appendix

   14               Trustees and Officers

   15               Additional Information

   16               Investment Manager
                    Investment Adviser
                    Principal Underwriter
                    Distribution Plans
                    Sales Charges
                    Additional Information

   17               Brokerage

   18               Declaration of Trust

   19               Valuation of Securities
                    Distribution Plans
                    Redemptions in Kind

   20               Distributions and Taxes

   21               Principal Underwriter

   22               Standardized Total Return and Yield
                    Quotations

   23               Financial Statements



<PAGE>


                       KEYSTONE AMERICA OMEGA FUND, INC.


                                     Part A


                                   PROSPECTUS

         (Filed with Post-Effective  Amendment No. 24 to Registration  Statement
No. 33-28183/811-1600 and is incorporated by reference herein.)


<PAGE>


                       KEYSTONE AMERICA OMEGA FUND, INC.


                                     Part B


                      STATEMENT OF ADDITIONAL INFORMATION

         (Filed with Post-Effective  Amendment No. 24 to Registration  Statement
No. 33-28183/811-1600 and is incorporated by reference herein.)


<PAGE>


                       KEYSTONE AMERICA OMEGA FUND, INC.

                                     Part C

                               OTHER INFORMATION



Item 24.     Financial Statements and Exhibits


Item 24(a).  Financial Statements

All financial statements listed below are included in Registrant's  Statement of
Additional Information,  which was filed with Post-Effective Amendment No. 24 to
Registration  Statement No.  33-28183/811-1600 and are incorporated by reference
herein.


Schedule of Investments                                     December 31, 1994

Financial Highlights                                        For Fiscal Years
                                                            ended December 31,
                                                            1985 through 1994
                                                            for Class A shares.
                                                            For period from
                                                            August 2, 1993
                                                            (commencmenet of
                                                            operations) through
                                                            December 31 1993 and
                                                            fiscal year ended
                                                            December 31,1994 for
                                                            Class B and C
                                                            shares.

Statement of Assets and Liabilities                         December 31, 1994

Statement of Operations                                     Year ended
                                                            December 31, 1994

Statement of Changes in Net Assets                          Two years ended
                                                            December 31, 1994


Notes to Financial Statements


Independent Auditors' Report
   dated February 3, 1995

All other schedules are omitted as the required information is inapplicable.

<PAGE>


Item 24(b)  Exhibits


(1)             A copy of  Registrant's  form of Declaration  of Trust was filed
                with Post-Effective  Amendment No. 24 to Regsitration  Statement
                No. 33-28183/811-1600 and is incorporated by reference herein.

(2)             A  copy  of form of Registrant's By-Laws was  filed  with  Post-
                Effective   Amendment  No.  24  to  Registration   Stetment  No.
                33-28183/811-1600 and is incorporated by reference herein.

(3)             Not applicable.

(4)             Not applicable.

(5)     (A)     A copy of the Investment Management Agreement between Registrant
                and  Keystone  Management,  Inc.  was filed with  Post-Effective
                Amendment No. 24 to Registration Statement No. 33-28183/811-1600
                and is incorporated by reference herein.

        (B)     A copy of the Investment Advisory  Agreement,  between  Keystone
                Management,  Inc. and  Keystone  Investment  Management  Company
                (formerly   Keystone  Custodian  Funds,  Inc.)  was  filed  with
                Post-Effective  Amendment No. 24 to  Registration  Statement No.
                33-28183/811-1600 and is incorporated by reference herein.

(6)     (A)     A copy of the form of Principal  Underwriting  Agreement between
                Registrant   and  Keystone   Investment   Distributors   Company
                (formerly   Keystone   Distributors,   Inc.)  was   filed   with
                Post-Effective  Amendment No. 24 to  Registration  Statement No.
                33-28183/811-1600  as Exhibit 24(b)(6)(A) and is incorporated by
                reference herein.

        (B)     A copy of  the  form  of  Dealers  Agreement  used  by  Keystone
                Investment  Distributors  Company was filed with  Post-Effective
                Amendment No. 20 to Registration Statement No. 33-28183/811-1600
                as Exhibit 24(b)(6)(B) and is incorporated by reference herein.

(7)             Not applicable.

(8)             A  copy  of  the   form  of  Custodian,  Fund   Accounting   and
                Recordkeeping Agreement between Registrant and State Street Bank
                and Trust Company was filed with Post-  Effective  Amendment No.
                24 to Registration  Statement No.  33-28183/811-1600  as Exhibit
                24(b)(8) and is incorporated by reference herein.

(9)             Not applicable.


<PAGE>


Item 24(b)  Exhibits (con't)


(10)            An opinion and consent  of  counsel as to the  legality  of  the
                securities  registered was filed with  Post-Effective  Amendment
                No. 24 to  Registration  Statement  No.  33-  28183/811-1600  as
                Exhibit 24(b)(10) and is incorporated by reference herein.

(11)            A consent as to the use of the Independent  Auditors' Report was
                filed  with  Post-Effective  Amendment  No.  24 to  Registration
                Statement No. 33-28183/811-1600 and is incorporated by reference
                herein.

(12)            Not applicable.

(13)            Not applicable.

(14)            Copies  of  forms of model  plans used in the  establishment  of
                retirement plans, in connection with which Registrant offers its
                securities,  were filed with Post-Effective  Amendment No. 66 to
                Registration   Statement   for  Keystone   Balanced  Fund  (K-1)
                (formerly named Keystone  Custodian Fund,  Series K-1) (File No.
                2-  10527/811-96 as Exhibit  24(b)(14)) and are  incorporated by
                reference herein.

(15)            A copy of the forms of Registrant's respective Class A, B, and C
                Rule 12b-1  Distribution  Plans  were filed with  Post-Effective
                Amendment No. 24 to Registration Statement No. 33-28183/811-1600
                as Exhibit 24(b)(15) and are incorporated by reference herein.

(16)            Schedules for the computation of total  return  was  filed  with
                Post-Effective  Amendment No. 24 to  Registration  Statement No.
                33-28183/811-1600 and are incorporated by reference herein.

(17)            A  financial  data  schedule  was  filed   with   Post-Effective
                Amendment   No.   24   to   Registration   Statement   No.   33-
                28183/811-1600  as Exhibit 27 and is  incorporated  by reference
                herein.

(18)            A copy of the form of Registrant's Multiple Class Plan is  filed
                herewith.

(19)            Powers of Attorney are filed herewith.


<PAGE>


Item 25.          Persons Controlled By or Under Common Control With
                  Registrant

                  Not applicable.


Item 26.  Number of Holders of Securities

                                                           Number of Record
Title of Class                                      Holders as of April 28, 1995
- --------------                                      ----------------------------

   Class A                                                      9,237
   Class B                                                      3,855
   Class C                                                        834


Item 27.          Indemnification

         Provisions for the  indemnification  of the  Registrant's  Trustees and
officers are contained in Article VIII of  Registrant's  form of  Declaration of
Trust,  a copy of which  was  filed  with  Post-Effective  Amendment  No.  24 to
Registration  Statement  No.   33-28183/811-1600  as  Exhibit  24(b)(1)  and  is
incorporated by reference herein.

         Provisions for the indemnification of Keystone Investment  Distributors
Company, the Registrant's Principal  Underwriter,  are contained in Section 9 of
the Principal  Underwriting Agreement between Registrant and Keystone Investment
Distributors  Company, a copy of the form of which was filed with Post-Effective
Amendment  No. 24 to  Registration  Statement No.  33-28183/811-1600  as Exhibit
24(b)(6)(A) and is incorporated by reference herein.

         Provisions for the  indemnification  of Keystone  Management,  Inc. and
Keystone  Investment  Management  Company,  Registrant's  investment manager and
adviser,  respectively,  are contained in Section 6 of the Investment Management
Agreement between Registrant and Keystone  Management,  Inc., a copy of the form
of  which  was  filed  with  Post-Effective  Amendment  No.  24 to  Registration
Statement No. 33-28183/811-1600 and is incorporated by reference herein.




<PAGE>


Item 28.          Businesses and Other Connections of Investment Adviser

                  Filed with  Post-Effective  Amendment  No. 24 to  Registration
                  Statement  No.   33-28183/811-1600   and  is  incorporated  by
                  reference herein.

Item 29.          Principal Underwriter

         (a)      Keystone  Investment   Distributors  Company,  which  acts  as
                  Registrant's  principal  underwriter,  also acts as  principal
                  underwriter or distributor for the following entities:

                  Keystone America Hartwell Emerging Growth Fund, Inc.
                  Keystone Hartwell Growth Fund
                  Keystone Quality Fund (B-1)
                  Keystone Diversified Bond Fund (B-2)
                  Keystone High Income Bond Fund (B-4)
                  Keystone Balanced Fund (K-1)
                  Keystone Strategic Growth Fund (K-2)
                  Keystone Growth and Income Fund (S-1)
                  Keystone Mid-Cap Growth Fund (S-3)
                  Keystone Small Company Growth Fund (S-4)
                  Keystone Capital Preservation and Income Fund
                  Keystone Fund of the Americas
                  Keystone Fund for Total Return
                  Keystone Global Opportunities Fund
                  Keystone Government Securities Fund
                  Keystone Intermediate Term Bond Fund
                  Keystone State Tax Free Fund
                  Keystone State Tax Free Fund - Series II
                  Keystone Strategic Income Fund
                  Keystone Tax Free Income Fund
                  Keystone World Bond Fund
                  Keystone Fund of the Americas
                  Keystone Tax Free Fund
                  Keystone Tax Exempt Trust
                  Keystone Liquid Trust
                  Keystone International Fund Inc.
                  Keystone Precious Metals Holdings, Inc.
                  Keystone Strategic Development Fund
                  Master Reserves Trust

         (b)      Information with respect  to  each  officer  and  director  of
                  Registrant's  acting  principal  underwriter  was  filed  with
                  Post-Effective  Amendment No. 24 to Registration Statement No.
                  33-28183/811-1600 and is incorporated by reference herein.


Item 29(c).                Not applicable.


<PAGE>


Item 30.  Location of Accounts and Records

                  200 Berkeley Street
                  Boston, Massachusetts 02116-5034

                  Keystone Investor Resource Center, Inc.
                  101 Main Street
                  Cambridge, Massachusetts 02142-1519

                  Data Vault, Inc.
                  3431 Sharp Slot Road
                  Swansea, Massachusetts 02171

                  State Street Bank and Trust Company
                  1776 Heritage Drive
                  Quincy, Massachusetts 02171


Item 31.  Management Services

                  Not applicable.


Item 32.  Undertakings

                  Upon request and without charge,  Registrant hereby undertakes
                  to furnish a copy of its latest annual report to  shareholders
                  to each person to whom a copy of  Registrant's  prospectus  is
                  delivered.




<PAGE>



                                   SIGNATURES


         Pursuant  to the  requirements  of the  Securities  Act of 1933 and the
Investment  Company Act of 1940, the  Registrant  certifies that it meets all of
the  requirements  for the  effectiveness  of this Amendment to its Registration
Statement  pursuant to Rule 485(b) under the Securities Act of 1933 and has duly
caused this Amendment to be signed on its behalf by the  undersigned,  thereunto
duly authorized, in the City of Boston, in The Commonwealth of Massachusetts, on
the 26th day of May, 1995.


                                               KEYSTONE AMERICA OMEGA FUND, INC.


                                               By: /s/ George S. Bissell
                                                   -----------------------------
                                                       George S. Bissell*
                                                       Chairman of the Board


                                              *By: /s/ Melina M.T. Murphy
                                                   -----------------------------
                                                       Melina M.T. Murphy**
                                                       Attorney-in-Fact**


         Pursuant  to the  requirements  of the  Securities  Act of  1933,  this
Amendment to  Registrant's  Registration  Statement has been signed below by the
following persons in the capacities indicated on the 26th day of May, 1995.


SIGNATURES                                           TITLE
- ----------                                           -----

/s/ George S. Bissell                         Chairman of the Board and
- ------------------------------                Trustee
    George S. Bissell*                        


/s/ Albert H. Elfner, III                     President, Chief Executive Officer
- ------------------------------                and Trustee
    Albert H. Elfner, III*                    


/s/ Kevin J. Morrissey                        Treasurer (Principal Financial and
- ------------------------------                Accounting Officer)
    Kevin J. Morrissey*                       



                                              *By: /s/ Melina M.T. Murphy
                                                   -----------------------------
                                                       Melina M.T. Murphy**
                                                       Attorney-in-Fact

<PAGE>


SIGNATURES                                           TITLE
- ----------                                           -----



/s/ Frederick Amling                                 Trustee
    --------------------------------
    Frederick Amling*


/s/ Charles A. Austin, III                           Trustee
    --------------------------------
    Charles A. Austin, III*


/s/ Edwin D. Campbell                                Trustee
    --------------------------------
    Edwin D. Campbell*


/s/ Charles F. Chapin                                Trustee
    --------------------------------
    Charles F. Chapin*


/s/ K. Dun Gifford                                   Trustee
    --------------------------------
    K. Dun Gifford*


/s/ Leroy Keith, Jr.                                 Trustee
    --------------------------------
    Leroy Keith, Jr.*


/s/ F. Ray Keyser, Jr.                               Trustee
    --------------------------------
    F. Ray Keyser, Jr.*


/s/ David M. Richardson                              Trustee
    --------------------------------
    David M. Richardson*


/s/ Richard J. Shima                                 Trustee
    --------------------------------
    Richard J. Shima*


/s/ Andrew J. Simons                                 Trustee
    --------------------------------
    Andrew J. Simons*


                                              *By: /s/ Melina M.T. Murphy
                                                   ----------------------------
                                                       Melina M.T. Murphy**
                                                       Attorney-in-Fact


**Melina M.T. Murphy, by signing her name hereto, does hereby sign this document
  on  behalf  of each of the  above-named  individuals  pursuant  to  powers  of
  attorney  duly  executed  by such  persons  and  attached  hereto  as  Exhibit
  24(b)(19).



<PAGE>

<TABLE>

                               INDEX TO EXHIBITS
<CAPTION>

                                                                                Page Number
                                                                                In Sequential
Exhibit Number                  Exhibit                                         Numbering System
- --------------                  -------                                         -----------------
      <C>                       <S>                                             <C>

       1                        Restatement of Trust<F3>

       2                        By-Laws<F3>

       5                        Form of Investment Management Agreement<F3>
                                Form of Investment Advisory Agreement<F3>

       6                        Form of Principal Underwriting Agreement<F3>
                                Form of Dealers Agreement<F2>
       8                        Form of Custodian, Fund Accounting and
                                Recordkeeping Agreement<F3>

      10                        Form of Opinion and Consent of Counsel<F3>

      11                        Independent Auditors' Consent<F3>

      14                        Form of Model Retirement Plans<F1>

      15                        Form of Distribution Plans<F3>

      16                        Performance Data Schedules<F3>

      17                        Financial Data Schedule<F3>

      18                        Form of 18f-3 Plan

      19                        Powers of Attorney

<FN>
- ------------

<F1>Incorporated  herein by  reference  to  Post-Effective  Amendment  No. 66 to
    Registration   Statement   for  Keystone   Balanced  Fund  (K-1)  (File  No.
    2-10527/811-96).

<F2>Incorporated  herein by  reference  to  Post-Effective  Amendment  No. 20 to
    Registration Statement No. 33-28183/811-1600.

<F3>Incorporated  herein by  reference  to  Post-Effective  Amendment  No. 24 to
    Registration Statement No. 33-28183/811-1600.

</TABLE>

<PAGE>


<PAGE>

                                                            EXHIBIT 99.24(b)(18)



                 MULTIPLE CLASS PLAN FOR KEYSTONE AMERICA FUNDS


         The Keystone  America Fund Family  currently offers a number of classes
of shares with the following class  provisions and current offering and exchange
characteristics.   Additional  classes  of  shares,   when  created,   may  have
characteristics that differ from those described.  References to percentages not
otherwise defined are to percentages of average daily net assets of a class.

         I.       CLASSES

         1.       Class A Shares

                  Keystone America Funds

                  Class A Shares have a  distribution  plan adopted  pursuant to
                  Rule 12b-1  under the  Investment  Company  Act of 1940 ("Rule
                  12b-1")  and/or  a  shareholder  services  plan,  which  plans
                  provide for payments, currently limited to 0.25% annually, for
                  distribution and/or shareholder services fees.

                  Class A Shares are offered with a front-end sales load, except
                  that  purchases  of Class A Shares  made on or after April 10,
                  1995 (a) in an amount equal to or exceeding $1 million  and/or
                  (b)  by  a   corporate   qualified   retirement   plan   or  a
                  non-qualified   deferred  compensation  plan  sponsored  by  a
                  corporation  having  100 or more  eligible  employees  are not
                  subject  to a  front-end  sales  load,  but are  subject  to a
                  contingent  deferred  sales  charge  ("CDSC")  of 1.00%  for a
                  period of 24 months from the date of purchase.

                  Class A Shares  may be  exchanged  for Class A Shares of other
                  Keystone  America Funds and Class A Shares of Keystone  Liquid
                  Trust.  Class A Shares  subject to a CDSC when  exchanged will
                  remain subject to the CDSC after the exchange.

                  Keystone Liquid Trust

                  Class A Shares have a  distribution  plan adopted  pursuant to
                  Rule 12b-1 and/or a  shareholder  services  plan,  which plans
                  provide for payments of up to 0.25% annually for  distribution
                  and/or shareholder services fees.

                  Class A Shares  are  offered  without  a sales  load.  Class A
                  Shares may be  exchanged  for Class A Shares of other funds in
                  the  Keystone  America  Fund Family and shares of funds in the
                  Keystone Fund Family.

         2.       Class B Shares

                  Keystone America Funds (except Keystone Capital
                  Preservation and Income Fund) and Keystone Liquid Trust

                  Class B Shares have  distribution  plans  adopted  pursuant to
                  Rule 12b-1 and may have a  shareholder  services  plan,  which
                  plans,  in the aggregate,  provide for payments of up to 1.00%
                  annually for distribution  and/or  shareholder  services fees.
                  Class B Shares  are  offered  at net  asset  value  without  a
                  front-end  sales  load but with a CDSC,  which is a  declining
                  percentage of the lesser of current net asset value or initial
                  cost.  For Class B shares  purchased on or after June 1, 1995,
                  the CDSC is imposed at rates  ranging  from a maximum of 5% of
                  amounts   redeemed   during  the  first  twelve  month  period
                  following  the month of  purchase  to 1% of  amounts  redeemed
                  during the sixth twelve month  period  following  the month of
                  purchase.

                  The  sub-class of Class B Shares  issued prior to June 1, 1995
                  automatically  convert to Class A Shares seven  calendar years
                  after  purchase  without a sales  load or  exchange  fee.  The
                  sub-class of Class B Shares issued on or after to June 1, 1995
                  automatically  convert to Class A Shares eight years after the
                  month of purchase without a sales load or exchange fee.

                  Class B Shares  may be  exchanged  for the same  sub-class  of
                  Class B Shares of other  Keystone  America  Funds and the same
                  sub-class of Class B Shares of Keystone Liquid Trust.  Class B
                  Shares subject to a CDSC when exchanged will remain subject to
                  the CDSC after the exchange.

                  Keystone Capital Preservation and Income Fund ("CPI")

                  CPI  Class  B  Shares  have  the  same  provisions  and  other
                  characteristics as those described above for Class B Shares of
                  the Keystone America Funds,  except that Class B Shares of CPI
                  (a) are subject to a CDSC, which is a declining  percentage of
                  the lesser of current net asset value or initial cost (for CPI
                  Class B shares purchased on or after June 1, 1995, the CDSC is
                  imposed  at rates  ranging  from a  maximum  of 3% of  amounts
                  redeemed  during the first twelve month period  following  the
                  month of purchase to 1% of amounts redeemed during the fourth
                  twelve   month   period   following   the  month  of  purchase
                  purchased);  and (b) have the  following  special  exchange or
                  conversion  features:  (i) at the  shareholder's  option,  the
                  sub-class  of CPI Class B Shares  issued prior to June 1, 1995
                  may be  exchanged  for CPI  Class A Shares  up to seven  years
                  after purchase and (ii) the sub-class of Class B Shares issued
                  on or after  June 1,  1995  automatically  convert  to Class A
                  Shares eight years after the month of purchase without a sales
                  load or exchange fee.

         3.       Class C Shares

                  Keystone America Funds and Keystone Liquid Trust

                  Class C Shares have a  distribution  plan adopted  pursuant to
                  Rule 12b-1,  and may have a shareholder  services plan,  which
                  plans provide,  in the aggregate,  for payments of up to 1.00%
                  annually for distribution  and/or  shareholder  services fees.
                  Class C Shares are subject to a CDSC, which is a percentage of
                  the  lesser  of  current  net  asset  value  or  initial  cost
                  (currently 1.00% for one year from the date of purchase).

                  Class C Shares  are  offered  at net  asset  value  without  a
                  front-end sales load.

                  Class C Shares  may be  exchanged  for Class C Shares of other
                  Keystone  America  Funds and Keystone  Liquid  Trust.  Class C
                  Shares subject to a CDSC when exchanged will remain subject to
                  the CDSC after the exchange.

         II.      CLASS EXPENSES

                  Each class  bears the  expenses  of its Rule 12b-1 plan and/or
                  shareholder  services plan. There currently are no other class
                  specific expenses.

         III.     EXPENSE ALLOCATION METHODS

                  Daily Distribution Funds

                  All income,  realized and unrealized  capital gains and losses
                  and expenses not assigned to a class will be allocated to each
                  share regardless of class.

                  Non-Daily Distribution Funds

                  All income, realized and unrealized capital gains
                  and losses and expenses not assigned to a class
                  will be  allocated  to each class  based on the  relative  net
                  asset value of each class.

         IV.      VOTING RIGHTS

                  Each class shall have  exclusive  voting  rights on any matter
                  submitted to its shareholders that relates solely to its class
                  arrangement.

                  Each class  shall have  separate  voting  rights on any matter
                  submitted  to  shareholders  where the  interests of one class
                  differ from the interests of any other class.

                  Each  class  has in all other  respects  the same  rights  and
                  obligations as each other class.

         V.       EXPENSE WAIVERS OR REIMBURSEMENTS

                  Any expense waivers or  reimbursements  shall be in compliance
                  with Rule 18f-3  issued  under the  Investment  Company Act of
                  1940.



<PAGE>


<PAGE>

                                                            EXHIBIT 99.24(b)(19)


                               POWER OF ATTORNEY

         I, the undersigned, hereby constitute Roger T. Wickers, Rosemary D. Van
Antwerp, Jean S. Loewenberg, Dorothy E. Bourassa, James M. Wall and Melina M. T.
Murphy,  each of them singly, my true and lawful  attorneys,  with full power to
them and each of them to sign  for me and in my name in the  capacity  indicated
below any and all registration statements,  including, but not limited to, Forms
N-8A,  N-8B-1,  S-5, N-1 and N-1A, as amended from time to time, and any and all
amendments  thereto to be filed with the Securities and Exchange  Commission for
the purpose of registering from time to time all investment companies of which I
am now or hereafter a Director or Trustee and/or Chairman of the Board and Chief
Executive Officer and for which Keystone Custodian Funds, Inc. serves as Adviser
or Manager and registering  from time to time the shares of such companies,  and
generally  to do all such  things in my name and in my  behalf  to  enable  such
investment  companies to comply with the  provisions  of the  Securities  Act of
1933,  as  amended,  the  Investment  Company Act of 1940,  as amended,  and all
requirements   and  regulations  of  the  Securities  and  Exchange   Commission
thereunder,  hereby ratifying and confirming my signature as it may be signed by
my said attorneys to any and all registration statements and amendments thereto.


                                                       /s/ George S. Bissell
                                                           George S. Bissell
                                                           Director/Trustee,
                                                           Chairman of the Board

Dated: December 14, 1994




<PAGE>

                               POWER OF ATTORNEY

         I, the undersigned, hereby constitute Roger T. Wickers, Rosemary D. Van
Antwerp, Jean S. Loewenberg, Dorothy E. Bourassa, James M. Wall and Melina M. T.
Murphy,  each of them singly, my true and lawful  attorneys,  with full power to
them and each of them to sign  for me and in my name in the  capacity  indicated
below any and all registration statements,  including, but not limited to, Forms
N-8A,  N-8B-1,  S-5, N-1 and N-1A, as amended from time to time, and any and all
amendments  thereto to be filed with the Securities and Exchange  Commission for
the purpose of registering from time to time all investment companies of which I
am now or hereafter a Director or Trustee and/or Chief Executive Officer and for
which  Keystone   Custodian  Funds,  Inc.  serves  as  Adviser  or  Manager  and
registering from time to time the shares of such companies,  and generally to do
all such things in my name and in my behalf to enable such investment  companies
to comply with the  provisions of the  Securities  Act of 1933, as amended,  the
Investment Company Act of 1940, as amended, and all requirements and regulations
of the  Securities  and Exchange  Commission  thereunder,  hereby  ratifying and
confirming my signature as it may be signed by my said  attorneys to any and all
registration statements and amendments thereto.


                                                       /s/ Albert H. Elfner, III
                                                           Albert H. Elfner, III
                                                           Director/Trustee,
                                                           President and Chief
                                                           Executive Officer




<PAGE>


                               POWER OF ATTORNEY

         I, the undersigned, hereby constitute Roger T. Wickers, Rosemary D. Van
Antwerp, Jean S. Loewenberg, Dorothy E. Bourassa, James M. Wall and Melina M. T.
Murphy,  each of them singly, my true and lawful  attorneys,  with full power to
them and each of them to sign  for me and in my name in the  capacity  indicated
below any and all registration statements,  including, but not limited to, Forms
N-8A,  N-8B-1,  S-5, N-1 and N-1A, as amended from time to time, and any and all
amendments  thereto to be filed with the Securities and Exchange  Commission for
the purpose of registering from time to time all investment companies of which I
am now or  hereafter  a  Director,  Trustee  or officer  and for which  Keystone
Custodian Funds,  Inc. serves as Adviser or Manager and registering from time to
time the shares of such  companies,  and  generally  to do all such things in my
name and in my behalf to enable  such  investment  companies  to comply with the
provisions of the Securities Act of 1933, as amended, the Investment Company Act
of 1940, as amended,  and all requirements and regulations of the Securities and
Exchange Commission thereunder,  hereby ratifying and confirming my signature as
it may be signed by my said attorneys to any and all registration statements and
amendments thereto.


                                                          /s/ Kevin J. Morrissey
                                                              Kevin J. Morrissey
                                                              Treasurer

Dated: December 14, 1994




<PAGE>

                               POWER OF ATTORNEY

         I, the undersigned, hereby constitute Roger T. Wickers, Rosemary D. Van
Antwerp, Jean S. Loewenberg, Dorothy E. Bourassa, James M. Wall and Melina M. T.
Murphy,  each of them singly, my true and lawful  attorneys,  with full power to
them and each of them to sign  for me and in my name in the  capacity  indicated
below any and all registration statements,  including, but not limited to, Forms
N-8A,  N-8B-1,  S-5, N-1 and N-1A, as amended from time to time, and any and all
amendments  thereto to be filed with the Securities and Exchange  Commission for
the purpose of registering from time to time all investment companies of which I
am now or  hereafter  a Director  or Trustee  and for which  Keystone  Custodian
Funds,  Inc. serves as Adviser or Manager and registering  from time to time the
shares of such companies,  and generally to do all such things in my name and in
my behalf to enable such  investment  companies to comply with the provisions of
the Securities Act of 1933, as amended,  the Investment  Company Act of 1940, as
amended,  and all  requirements  and  regulations of the Securities and Exchange
Commission thereunder, hereby ratifying and confirming my signature as it may be
signed  by my  said  attorneys  to  any  and  all  registration  statements  and
amendments thereto.

                                                            /s/ Frederick Amling
                                                                Frederick Amling
                                                                Director/Trustee

Dated: December 14, 1994




<PAGE>

                               POWER OF ATTORNEY

         I, the undersigned, hereby constitute Roger T. Wickers, Rosemary D. Van
Antwerp, Jean S. Loewenberg, Dorothy E. Bourassa, James M. Wall and Melina M. T.
Murphy,  each of them singly, my true and lawful  attorneys,  with full power to
them and each of them to sign  for me and in my name in the  capacity  indicated
below any and all registration statements,  including, but not limited to, Forms
N-8A,  N-8B-1,  S-5, N-1 and N-1A, as amended from time to time, and any and all
amendments  thereto to be filed with the Securities and Exchange  Commission for
the purpose of registering from time to time all investment companies of which I
am now or  hereafter  a Director  or Trustee  and for which  Keystone  Custodian
Funds,  Inc. serves as Adviser or Manager and registering  from time to time the
shares of such companies,  and generally to do all such things in my name and in
my behalf to enable such  investment  companies to comply with the provisions of
the Securities Act of 1933, as amended,  the Investment  Company Act of 1940, as
amended,  and all  requirements  and  regulations of the Securities and Exchange
Commission thereunder, hereby ratifying and confirming my signature as it may be
signed  by my  said  attorneys  to  any  and  all  registration  statements  and
amendments thereto.


                                                       /s/ Charles A. Austin III
                                                           Charles A. Austin III
                                                           Director/Trustee

Dated: December 14, 1994





<PAGE>


                               POWER OF ATTORNEY

         I, the undersigned, hereby constitute Roger T. Wickers, Rosemary D. Van
Antwerp, Jean S. Loewenberg, Dorothy E. Bourassa, James M. Wall and Melina M. T.
Murphy,  each of them singly, my true and lawful  attorneys,  with full power to
them and each of them to sign  for me and in my name in the  capacity  indicated
below any and all registration statements,  including, but not limited to, Forms
N-8A,  N-8B-1,  S-5, N-1 and N-1A, as amended from time to time, and any and all
amendments  thereto to be filed with the Securities and Exchange  Commission for
the purpose of registering from time to time all investment companies of which I
am now or  hereafter  a Director  or Trustee  and for which  Keystone  Custodian
Funds,  Inc. serves as Adviser or Manager and registering  from time to time the
shares of such companies,  and generally to do all such things in my name and in
my behalf to enable such  investment  companies to comply with the provisions of
the Securities Act of 1933, as amended,  the Investment  Company Act of 1940, as
amended,  and all  requirements  and  regulations of the Securities and Exchange
Commission thereunder, hereby ratifying and confirming my signature as it may be
signed  by my  said  attorneys  to  any  and  all  registration  statements  and
amendments thereto.

                                                           /s/ Edwin D. Campbell
                                                               Edwin D. Campbell
                                                               Director/Trustee

Dated: December 14, 1994




<PAGE>

                               POWER OF ATTORNEY

         I, the undersigned, hereby constitute Roger T. Wickers, Rosemary D. Van
Antwerp, Jean S. Loewenberg, Dorothy E. Bourassa, James M. Wall and Melina M. T.
Murphy,  each of them singly, my true and lawful  attorneys,  with full power to
them and each of them to sign  for me and in my name in the  capacity  indicated
below any and all registration statements,  including, but not limited to, Forms
N-8A,  N-8B-1,  S-5, N-1 and N-1A, as amended from time to time, and any and all
amendments  thereto to be filed with the Securities and Exchange  Commission for
the purpose of registering from time to time all investment companies of which I
am now or  hereafter  a Director  or Trustee  and for which  Keystone  Custodian
Funds,  Inc. serves as Adviser or Manager and registering  from time to time the
shares of such companies,  and generally to do all such things in my name and in
my behalf to enable such  investment  companies to comply with the provisions of
the Securities Act of 1933, as amended,  the Investment  Company Act of 1940, as
amended,  and all  requirements  and  regulations of the Securities and Exchange
Commission thereunder, hereby ratifying and confirming my signature as it may be
signed  by my  said  attorneys  to  any  and  all  registration  statements  and
amendments thereto.

                                                           /s/ Charles F. Chapin
                                                               Charles F. Chapin
                                                               Director/Trustee

Dated: December 14, 1994




<PAGE>

                               POWER OF ATTORNEY

         I, the undersigned, hereby constitute Roger T. Wickers, Rosemary D. Van
Antwerp, Jean S. Loewenberg, Dorothy E. Bourassa, James M. Wall and Melina M. T.
Murphy,  each of them singly, my true and lawful  attorneys,  with full power to
them and each of them to sign  for me and in my name in the  capacity  indicated
below any and all registration statements,  including, but not limited to, Forms
N-8A,  N-8B-1,  S-5, N-1 and N-1A, as amended from time to time, and any and all
amendments  thereto to be filed with the Securities and Exchange  Commission for
the purpose of registering from time to time all investment companies of which I
am now or  hereafter  a Director  or Trustee  and for which  Keystone  Custodian
Funds,  Inc. serves as Adviser or Manager and registering  from time to time the
shares of such companies,  and generally to do all such things in my name and in
my behalf to enable such  investment  companies to comply with the provisions of
the Securities Act of 1933, as amended,  the Investment  Company Act of 1940, as
amended,  and all  requirements  and  regulations of the Securities and Exchange
Commission thereunder, hereby ratifying and confirming my signature as it may be
signed  by my  said  attorneys  to  any  and  all  registration  statements  and
amendments thereto.


                                                            /s/ K. Dun Gifford
                                                                K. Dun Gifford
                                                                Director/Trustee

Dated: December 14, 1994




<PAGE>

                               POWER OF ATTORNEY

         I, the undersigned, hereby constitute Roger T. Wickers, Rosemary D. Van
Antwerp, Jean S. Loewenberg, Dorothy E. Bourassa, James M. Wall and Melina M. T.
Murphy,  each of them singly, my true and lawful  attorneys,  with full power to
them and each of them to sign  for me and in my name in the  capacity  indicated
below any and all registration statements,  including, but not limited to, Forms
N-8A,  N-8B-1,  S-5, N-1 and N-1A, as amended from time to time, and any and all
amendments  thereto to be filed with the Securities and Exchange  Commission for
the purpose of registering from time to time all investment companies of which I
am now or  hereafter  a Director  or Trustee  and for which  Keystone  Custodian
Funds,  Inc. serves as Adviser or Manager and registering  from time to time the
shares of such companies,  and generally to do all such things in my name and in
my behalf to enable such  investment  companies to comply with the provisions of
the Securities Act of 1933, as amended,  the Investment  Company Act of 1940, as
amended,  and all  requirements  and  regulations of the Securities and Exchange
Commission thereunder, hereby ratifying and confirming my signature as it may be
signed  by my  said  attorneys  to  any  and  all  registration  statements  and
amendments thereto.

                                                            /s/ Leroy Keith, Jr.
                                                                Leroy Keith, Jr.
                                                                Director/Trustee

Dated: December 14, 1994



<PAGE>

                               POWER OF ATTORNEY

         I, the undersigned, hereby constitute Roger T. Wickers, Rosemary D. Van
Antwerp, Jean S. Loewenberg, Dorothy E. Bourassa, James M. Wall and Melina M. T.
Murphy,  each of them singly, my true and lawful  attorneys,  with full power to
them and each of them to sign  for me and in my name in the  capacity  indicated
below any and all registration statements,  including, but not limited to, Forms
N-8A,  N-8B-1,  S-5, N-1 and N-1A, as amended from time to time, and any and all
amendments  thereto to be filed with the Securities and Exchange  Commission for
the purpose of registering from time to time all investment companies of which I
am now or  hereafter  a Director  or Trustee  and for which  Keystone  Custodian
Funds,  Inc. serves as Adviser or Manager and registering  from time to time the
shares of such companies,  and generally to do all such things in my name and in
my behalf to enable such  investment  companies to comply with the provisions of
the Securities Act of 1933, as amended,  the Investment  Company Act of 1940, as
amended,  and all  requirements  and  regulations of the Securities and Exchange
Commission thereunder, hereby ratifying and confirming my signature as it may be
signed  by my  said  attorneys  to  any  and  all  registration  statements  and
amendments thereto.

                                                          /s/ F. Ray Keyser, Jr.
                                                              F. Ray Keyser, Jr.
                                                              Director/Trustee

Dated: December 14, 1994



<PAGE>
                               POWER OF ATTORNEY

         I, the undersigned, hereby constitute Roger T. Wickers, Rosemary D. Van
Antwerp, Jean S. Loewenberg, Dorothy E. Bourassa, James M. Wall and Melina M. T.
Murphy,  each of them singly, my true and lawful  attorneys,  with full power to
them and each of them to sign  for me and in my name in the  capacity  indicated
below any and all registration statements,  including, but not limited to, Forms
N-8A,  N-8B-1,  S-5, N-1 and N-1A, as amended from time to time, and any and all
amendments  thereto to be filed with the Securities and Exchange  Commission for
the purpose of registering from time to time all investment companies of which I
am now or  hereafter  a Director  or Trustee  and for which  Keystone  Custodian
Funds,  Inc. serves as Adviser or Manager and registering  from time to time the
shares of such companies,  and generally to do all such things in my name and in
my behalf to enable such  investment  companies to comply with the provisions of
the Securities Act of 1933, as amended,  the Investment  Company Act of 1940, as
amended,  and all  requirements  and  regulations of the Securities and Exchange
Commission thereunder, hereby ratifying and confirming my signature as it may be
signed  by my  said  attorneys  to  any  and  all  registration  statements  and
amendments thereto.

                                                         /s/ David M. Richardson
                                                             David M. Richardson
                                                             Director/Trustee

Dated: December 14, 1994



<PAGE>
                               POWER OF ATTORNEY

         I, the undersigned, hereby constitute Roger T. Wickers, Rosemary D. Van
Antwerp, Jean S. Loewenberg, Dorothy E. Bourassa, James M. Wall and Melina M. T.
Murphy,  each of them singly, my true and lawful  attorneys,  with full power to
them and each of them to sign  for me and in my name in the  capacity  indicated
below any and all registration statements,  including, but not limited to, Forms
N-8A,  N-8B-1,  S-5, N-1 and N-1A, as amended from time to time, and any and all
amendments  thereto to be filed with the Securities and Exchange  Commission for
the purpose of registering from time to time all investment companies of which I
am now or  hereafter  a Director  or Trustee  and for which  Keystone  Custodian
Funds,  Inc. serves as Adviser or Manager and registering  from time to time the
shares of such companies,  and generally to do all such things in my name and in
my behalf to enable such  investment  companies to comply with the provisions of
the Securities Act of 1933, as amended,  the Investment  Company Act of 1940, as
amended,  and all  requirements  and  regulations of the Securities and Exchange
Commission thereunder, hereby ratifying and confirming my signature as it may be
signed  by my  said  attorneys  to  any  and  all  registration  statements  and
amendments thereto.

                                                            /s/ Richard J. Shima
                                                                Richard J. Shima
                                                                Director/Trustee

Dated: December 14, 1994




<PAGE>

                               POWER OF ATTORNEY

         I, the undersigned, hereby constitute Roger T. Wickers, Rosemary D. Van
Antwerp, Jean S. Loewenberg, Dorothy E. Bourassa, James M. Wall and Melina M. T.
Murphy,  each of them singly, my true and lawful  attorneys,  with full power to
them and each of them to sign  for me and in my name in the  capacity  indicated
below any and all registration statements,  including, but not limited to, Forms
N-8A,  N-8B-1,  S-5, N-1 and N-1A, as amended from time to time, and any and all
amendments  thereto to be filed with the Securities and Exchange  Commission for
the purpose of registering from time to time all investment companies of which I
am now or  hereafter  a Director  or Trustee  and for which  Keystone  Custodian
Funds,  Inc. serves as Adviser or Manager and registering  from time to time the
shares of such companies,  and generally to do all such things in my name and in
my behalf to enable such  investment  companies to comply with the provisions of
the Securities Act of 1933, as amended,  the Investment  Company Act of 1940, as
amended,  and all  requirements  and  regulations of the Securities and Exchange
Commission thereunder, hereby ratifying and confirming my signature as it may be
signed  by my  said  attorneys  to  any  and  all  registration  statements  and
amendments thereto.

                                                            /s/ Andrew J. Simons
                                                                Andrew J. Simons
                                                                Director/Trustee

Dated: December 14, 1994





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<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ACCOUNTING
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</LEGEND>
<CIK> 0000074458
<NAME> KEYSTONE OMEGA FUND, INC.
       
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<CIK> 0000074458
<NAME> KEYSTONE OMEGA FUND, INC.
       
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<LEGEND>
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RECORDS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ACCOUNTING
RECORDS.
</LEGEND>
<CIK> 0000074458
<NAME> KEYSTONE OMEGA FUND, INC.
       
<S>                             <C>
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<FISCAL-YEAR-END>                          DEC-31-1994
<PERIOD-END>                               DEC-31-1994
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<INVESTMENTS-AT-VALUE>                       140928131
<RECEIVABLES>                                  3209721
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