<PAGE> PAGE 1
000 B000000 09/30/95
000 C000000 773826
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 THE RODNEY SQUARE TAX-EXEMPT FUND
001 B000000 811-4372
001 C000000 3026518280
002 A000000 RODNEY SQUARE NORTH, 1100 N. MARKET ST.
002 B000000 WILMINGTON
002 C000000 DE
002 D010000 19890
002 D020000 0001
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
007 C010100 1
007 C020100 THE RODNEY SQUARE TAX-EXEMPT FUND
007 C030100 N
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
007 C011100 11
007 C011200 12
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
008 A00AA01 RODNEY SQUARE MANAGEMENT CORPORATION
008 B00AA01 A
008 C00AA01 801-22071
008 D01AA01 WILMINGTON
008 D02AA01 DE
008 D03AA01 19890
<PAGE> PAGE 2
010 A00AA01 RODNEY SQUARE MANAGEMENT CORPORATION
010 B00AA01 801-22071
010 C01AA01 WILMINGTON
010 C02AA01 DE
010 C03AA01 19890
011 A00AA01 RODNEY SQUARE DISTRIBUTORS,INC.
011 B00AA01 8-37006
011 C01AA01 WILMINGTON
011 C02AA01 DE
011 C03AA01 19890
012 A00AA01 RODNEY SQUARE MANAGEMENT CORPORATION
012 B00AA01 85-00761
012 C01AA01 WILMINGTON
012 C02AA01 DE
012 C03AA01 19890
013 A00AA01 ERNST & YOUNG LLP
013 B01AA01 BALTIMORE
013 B02AA01 MD
013 B03AA01 21201
014 A00AA01 WILMINGTON BROKERAGE SERVICES, INC.
014 B00AA01 8-31441
015 A00AA01 WILMINGTON TRUST COMPANY
015 B00AA01 C
015 C01AA01 WILMINGTON
015 C02AA01 DE
015 C03AA01 19890
015 E03AA01 X
015 A00AA02 MORGAN GUARANTY TRUST COMPANY
015 B00AA02 S
015 C01AA02 NEW YORK
015 C02AA02 NY
015 C03AA02 10015
015 E01AA02 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 8
019 C00AA00 RODNEYSQUA
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 GOLDMAN, SACHS & CO.
022 B000001 13-5108880
022 C000001 379470
<PAGE> PAGE 3
022 D000001 98124
022 A000002 LEHMAN BROTHERS, INC.
022 B000002 13-2518466
022 C000002 414783
022 D000002 22620
022 A000003 NUVEEN (JOHN) & CO. INC.
022 B000003 36-2639476
022 C000003 205040
022 D000003 193580
022 A000004 MORGAN (J.P.) SECURITIES INC.
022 B000004 13-3224016
022 C000004 210019
022 D000004 118709
022 A000005 FIRST CHICAGO CAPITAL MARKETS, INC.
022 B000005 36-3595942
022 C000005 99715
022 D000005 89490
022 A000006 CS FIRST BOSTON CORP.
022 B000006 13-5659485
022 C000006 108850
022 D000006 11050
022 A000007 BEAR, STEARNS & CO., INC.
022 B000007 13-3299429
022 C000007 75600
022 D000007 29800
022 A000008 PAINEWEBBER INC.
022 B000008 13-2638166
022 C000008 39255
022 D000008 60360
022 A000009 MERRILL LYNCH, PIERCE, FENNER & SMITH
022 B000009 13-5674085
022 C000009 73100
022 D000009 3900
022 A000010 SMITH BARNEY SHEARSON, INC.
022 B000010 13-1912900
022 C000010 36950
022 D000010 18700
023 C000000 1715904
023 D000000 696339
024 00AA00 N
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
026 A000000 N
026 B000000 N
026 C000000 N
<PAGE> PAGE 4
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A01AA00 174098
028 A02AA00 26
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028 A04AA00 153035
028 B01AA00 175660
028 B02AA00 28
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028 B04AA00 159224
028 C01AA00 167899
028 C02AA00 30
028 C03AA00 0
028 C04AA00 231418
028 D01AA00 166212
028 D02AA00 28
028 D03AA00 0
028 D04AA00 147607
028 E01AA00 152154
028 E02AA00 31
028 E03AA00 0
028 E04AA00 144193
028 F01AA00 162853
028 F02AA00 32
028 F03AA00 0
028 F04AA00 173200
028 G01AA00 998876
028 G02AA00 175
028 G03AA00 0
028 G04AA00 1008677
028 H00AA00 0
029 00AA00 N
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 Y
<PAGE> PAGE 5
041 00AA00 Y
042 A00AA00 21
042 B00AA00 2
042 C00AA00 0
042 D00AA00 77
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 27
044 00AA00 0
045 00AA00 Y
046 00AA00 N
047 00AA00 Y
048 00AA00 0.470
048 A01AA00 0
048 A02AA00 0.000
048 B01AA00 0
048 B02AA00 0.000
048 C01AA00 0
048 C02AA00 0.000
048 D01AA00 0
048 D02AA00 0.000
048 E01AA00 0
048 E02AA00 0.000
048 F01AA00 0
048 F02AA00 0.000
048 G01AA00 0
048 G02AA00 0.000
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048 H02AA00 0.000
048 I01AA00 0
048 I02AA00 0.000
048 J01AA00 0
048 J02AA00 0.000
048 K01AA00 0
048 K02AA00 0.000
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
<PAGE> PAGE 6
054 J00AA00 Y
054 K00AA00 Y
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 Y
054 O00AA00 N
055 A00AA00 N
055 B00AA00 N
056 00AA00 Y
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 1000
062 A00AA00 Y
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062 C00AA00 0.0
062 D00AA00 0.0
062 E00AA00 99.9
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063 A00AA00 36
063 B00AA00 0.0
064 A00AA00 Y
064 B00AA00 N
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067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
070 A01AA00 Y
070 A02AA00 N
070 B01AA00 N
070 B02AA00 N
070 C01AA00 N
070 C02AA00 N
070 D01AA00 N
070 D02AA00 N
070 E01AA00 N
<PAGE> PAGE 7
070 E02AA00 N
070 F01AA00 N
070 F02AA00 N
070 G01AA00 N
070 G02AA00 N
070 H01AA00 N
070 H02AA00 N
070 I01AA00 N
070 I02AA00 N
070 J01AA00 Y
070 J02AA00 N
070 K01AA00 Y
070 K02AA00 N
070 L01AA00 N
070 L02AA00 N
070 M01AA00 N
070 M02AA00 N
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070 P02AA00 N
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070 Q02AA00 N
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<PAGE> PAGE 8
072 U00AA00 0
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074 R04AA00 950
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<PAGE> PAGE 9
077 B000000 Y
077 C000000 N
077 D000000 Y
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 A00AA00 ST PAUL MERCURY INSURANCE
080 C00AA00 50000
081 A00AA00 Y
081 B00AA00 7
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
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086 A020000 0
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086 B020000 0
086 C010000 0
086 C020000 0
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<PAGE> PAGE 10
086 E01AA00 0
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SIGNATURE MARILYN TALMAN
TITLE SECRETARY
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE RODNEY
SQUARE TAX-EXEMPT FUND'S ANNUAL REPORT DATED SEPTEMBER 30, 1995 AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO THE ANNUAL REPORT DATED
SEPTEMBER 30, 1995.
</LEGEND>
<RESTATED>
<CIK> 0000773826
<NAME> THE RODNEY SQUARE TAX-EXEMPT FUND
<SERIES>
<NUMBER> 1
<NAME> THE RODNEY SQUARE TAX-EXEMPT FUND
<MULTIPLIER> 1000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1995
<PERIOD-START> OCT-01-1994
<PERIOD-END> SEP-30-1995
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 317,856
<INVESTMENTS-AT-VALUE> 317,856
<RECEIVABLES> 1,394
<ASSETS-OTHER> 40
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 319,290
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,077
<TOTAL-LIABILITIES> 1,077
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 318,214
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 318,213
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 13,837
<OTHER-INCOME> 0
<EXPENSES-NET> 1,957
<NET-INVESTMENT-INCOME> 11,880
<REALIZED-GAINS-CURRENT> 4
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 11,884
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 11,880
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,175,933
<NUMBER-OF-SHARES-REDEEMED> 2,246,604
<SHARES-REINVESTED> 315
<NET-CHANGE-IN-ASSETS> 70,352
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,696
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,957
<AVERAGE-NET-ASSETS> 360,911
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .033
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.033)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .54
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
