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<PAGE> PAGE 10
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<PAGE> PAGE 12
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<PAGE> PAGE 16
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<PAGE> PAGE 19
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062 P000400 79.6
062 Q000400 14.4
062 R000400 0.0
063 A000400 0
063 B000400 8.5
064 A000400 N
064 B000400 Y
065 000400 N
066 A000400 N
067 000400 N
068 A000400 N
068 B000400 N
<PAGE> PAGE 21
069 000400 N
070 A010400 Y
070 A020400 N
070 B010400 Y
070 B020400 N
070 C010400 Y
070 C020400 N
070 D010400 Y
070 D020400 N
070 E010400 Y
070 E020400 N
070 F010400 Y
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 Y
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 Y
070 K010400 Y
070 K020400 N
070 L010400 Y
070 L020400 Y
070 M010400 Y
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 Y
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400 726291
071 B000400 632651
071 C000400 1024091
071 D000400 62
072 A000400 6
072 B000400 50926
072 C000400 5447
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072 E000400 0
072 F000400 2162
072 G000400 0
072 H000400 0
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<PAGE> PAGE 22
072 K000400 0
072 L000400 0
072 M000400 0
072 N000400 0
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 0
072 S000400 0
072 T000400 0
072 U000400 0
072 V000400 0
072 W000400 0
072 X000400 2162
072 Y000400 0
072 Z000400 54211
072AA000400 2483
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072DD010400 54211
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072EE000400 0
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073 A020400 0.0000
073 B000400 0.0000
073 C000400 0.0000
074 A000400 738
074 B000400 0
074 C000400 73437
074 D000400 940158
074 E000400 134414
074 F000400 33723
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<PAGE> PAGE 23
074 U020400 0
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074 Y000400 17193
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076 000400 0.00
024 000500 N
025 A000501 GENERAL ELECTRIC CAPITAL CORP
025 B000501 13-1500700
025 C000501 D
025 D000501 11400
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025 D000503 0
025 D000504 0
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025 D000506 0
025 D000507 0
025 D000508 0
028 A010500 16312
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028 A030500 0
028 A040500 431
028 B010500 15400
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028 B030500 0
028 B040500 13
028 C010500 13106
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<PAGE> PAGE 24
030 A000500 0
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031 B000500 0
032 000500 0
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037 000500 N
038 000500 0
039 000500 N
040 000500 N
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042 B000500 0
042 C000500 0
042 D000500 0
042 E000500 0
042 F000500 0
042 G000500 0
042 H000500 0
043 000500 0
044 000500 0
045 000500 Y
046 000500 N
047 000500 Y
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048 A010500 0
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048 B010500 0
048 B020500 0.000
048 C010500 0
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048 E010500 0
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048 F010500 0
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048 G020500 0.000
048 H010500 0
048 H020500 0.000
048 I010500 0
048 I020500 0.000
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<PAGE> PAGE 25
050 000500 N
051 000500 N
052 000500 N
053 A000500 N
055 A000500 N
055 B000500 N
056 000500 N
057 000500 N
061 000500 0
062 A000500 N
062 B000500 0.0
062 C000500 0.0
062 D000500 0.0
062 E000500 0.0
062 F000500 0.0
062 G000500 0.0
062 H000500 0.0
062 I000500 0.0
062 J000500 0.0
062 K000500 0.0
062 L000500 0.0
062 M000500 0.0
062 N000500 0.0
062 O000500 0.0
062 P000500 0.0
062 Q000500 0.0
062 R000500 0.0
063 A000500 0
063 B000500 0.0
066 A000500 Y
066 B000500 Y
066 C000500 N
066 D000500 N
066 E000500 N
066 F000500 N
066 G000500 N
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 Y
070 A020500 N
070 B010500 Y
070 B020500 Y
070 C010500 N
070 C020500 N
070 D010500 Y
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 Y
<PAGE> PAGE 26
070 F020500 N
070 G010500 Y
070 G020500 N
070 H010500 Y
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 N
070 K010500 Y
070 K020500 N
070 L010500 Y
070 L020500 Y
070 M010500 N
070 M020500 N
070 N010500 Y
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 Y
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 Y
070 R020500 N
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072 B000500 993
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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SIGNATURE OTIS F. HILBERT
TITLE SECRETARY
LB Series Fund, Inc.
Form N-SAR for
Period Ended 6-30-97
INDEX TO EXHIBITS
EXHIBIT NO. ITEM
27 Financial Data Schedule (Exhibit 27)
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the LB
Series Fund, Inc. Semi-Annual Report to Shareholders dated June 30, 1997 and
is qualified in its entirety by reference to such Semi-Annual Report.
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> LB SERIES FUND, INC. - GROWTH PORTFOLIO
</SERIES>
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> JUN-30-1997
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 1,801,897
<INVESTMENTS-AT-VALUE> 2,077,759
<RECEIVABLES> 22,175
<ASSETS-OTHER> 84
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,100,018
<PAYABLE-FOR-SECURITIES> 19,375
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<SENIOR-EQUITY> 0
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<ACCUMULATED-NII-CURRENT> 0
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<NET-ASSETS> 2,080,643
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<INTEREST-INCOME> 4,140
<OTHER-INCOME> 0
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<NET-INVESTMENT-INCOME> 11,004
<REALIZED-GAINS-CURRENT> 152,497
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<NET-CHANGE-FROM-OPS> 298,026
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 11,004
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<NET-CHANGE-IN-ASSETS> 422,062
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<OVERDISTRIB-NII-PRIOR> 0
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<PER-SHARE-NAV-BEGIN> 19.32
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the LB
Series Fund, Inc. Semi-Annual Report to Shareholders dated June 30, 1997 and
is qualified in its entirety by reference to such Semi-Annual Report.
</LEGEND>
<SERIES>
<NUMBER> 2
<NAME> LB SERIES FUND, INC. - INCOME PORTFOLIO
</SERIES>
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> JUN-30-1997
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 914,970
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<RECEIVABLES> 15,767
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 936,778
<PAYABLE-FOR-SECURITIES> 120,511
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> (0)
<TOTAL-LIABILITIES> 120,511
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 838,188
<SHARES-COMMON-STOCK> 84,086
<SHARES-COMMON-PRIOR> 82,176
<ACCUMULATED-NII-CURRENT> 0
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<ACCUMULATED-NET-GAINS> (27,961)
<OVERDISTRIBUTION-GAINS> 0
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<EXPENSES-NET> 1,588
<NET-INVESTMENT-INCOME> 27,110
<REALIZED-GAINS-CURRENT> (2,095)
<APPREC-INCREASE-CURRENT> (1,186)
<NET-CHANGE-FROM-OPS> 23,829
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<DISTRIBUTIONS-OF-INCOME> 27,110
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,129
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<SHARES-REINVESTED> 2,808
<NET-CHANGE-IN-ASSETS> 15,107
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (25,866)
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<OVERDIST-NET-GAINS-PRIOR> 0
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<GROSS-EXPENSE> 1,588
<AVERAGE-NET-ASSETS> 800,369
<PER-SHARE-NAV-BEGIN> 9.75
<PER-SHARE-NII> 0.33
<PER-SHARE-GAIN-APPREC> (0.04)
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<AVG-DEBT-OUTSTANDING> 0
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the LB
Series Fund, Inc. Semi-Annual Report to Shareholders dated June 30, 1997 and
is qualified in its entirety by reference to such Semi-Annual Report.
</LEGEND>
<SERIES>
<NUMBER> 3
<NAME> LB SERIES FUND, INC. - MONEY MARKET PORTFOLIO
</SERIES>
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> JUN-30-1997
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 115,682
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<RECEIVABLES> 195
<ASSETS-OTHER> 24
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 115,901
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 115,901
<SHARES-COMMON-STOCK> 115,901
<SHARES-COMMON-PRIOR> 103,921
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 115,901
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3,033
<OTHER-INCOME> 0
<EXPENSES-NET> 218
<NET-INVESTMENT-INCOME> 2,815
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 2,815
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2,815
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 39,351
<NUMBER-OF-SHARES-REDEEMED> 30,186
<SHARES-REINVESTED> 2,815
<NET-CHANGE-IN-ASSETS> 11,980
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 218
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 218
<AVERAGE-NET-ASSETS> 109,900
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.03
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> 0.03
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.40
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the LB
Series Fund, Inc. Semi-Annual Report to Shareholders dated June 30, 1997 and
is qualified in its entirety by reference to such Semi-Annual Report.
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> LB SERIES FUND, INC. - HIGH YIELD PORTFOLIO
</SERIES>
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> JUN-30-1997
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 1,160,695
<INVESTMENTS-AT-VALUE> 1,181,732
<RECEIVABLES> 21,207
<ASSETS-OTHER> 738
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,203,677
<PAYABLE-FOR-SECURITIES> 25,278
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> (0)
<TOTAL-LIABILITIES> 25,278
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,162,050
<SHARES-COMMON-STOCK> 115,979
<SHARES-COMMON-PRIOR> 102,108
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (4,688)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 21,037
<NET-ASSETS> 1,178,399
<DIVIDEND-INCOME> 5,447
<INTEREST-INCOME> 50,926
<OTHER-INCOME> 0
<EXPENSES-NET> 2,162
<NET-INVESTMENT-INCOME> 54,211
<REALIZED-GAINS-CURRENT> 2,483
<APPREC-INCREASE-CURRENT> 10,825
<NET-CHANGE-FROM-OPS> 67,518
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 54,211
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8,712
<NUMBER-OF-SHARES-REDEEMED> 277
<SHARES-REINVESTED> 5,437
<NET-CHANGE-IN-ASSETS> 151,662
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (7,170)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,162
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,162
<AVERAGE-NET-ASSETS> 1,090,006
<PER-SHARE-NAV-BEGIN> 10.06
<PER-SHARE-NII> 0.50
<PER-SHARE-GAIN-APPREC> 0.10
<PER-SHARE-DIVIDEND> 0.50
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.16
<EXPENSE-RATIO> 0.40
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the LB
Series Fund, Inc. Semi-Annual Report to Shareholders dated June 30, 1997 and
is qualified in its entirety by reference to such Semi-Annual Report.
Information.
</LEGEND>
<SERIES>
<NUMBER> 5
<NAME> LB SERIES FUND, INC. - OPPORTUNITY GROWTH PORTFOLIO
</SERIES>
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> JUN-30-1997
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 334,821
<INVESTMENTS-AT-VALUE> 326,170
<RECEIVABLES> 6,938
<ASSETS-OTHER> 52
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 333,160
<PAYABLE-FOR-SECURITIES> 11,470
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 11,470
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 334,617
<SHARES-COMMON-STOCK> 29,041
<SHARES-COMMON-PRIOR> 21,431
<ACCUMULATED-NII-CURRENT> 522
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (4,797)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (8,652)
<NET-ASSETS> 321,690
<DIVIDEND-INCOME> 59
<INTEREST-INCOME> 994
<OTHER-INCOME> 0
<EXPENSES-NET> 530
<NET-INVESTMENT-INCOME> 522
<REALIZED-GAINS-CURRENT> (1,099)
<APPREC-INCREASE-CURRENT> (4,311)
<NET-CHANGE-FROM-OPS> (4,887)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7,632
<NUMBER-OF-SHARES-REDEEMED> 21
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 75,139
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (3,698)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 530
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 530
<AVERAGE-NET-ASSETS> 267,424
<PER-SHARE-NAV-BEGIN> 11.5
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> (0.44)
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.08
<EXPENSE-RATIO> 0.40
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the LB
Series Fund, Inc. Semi-Annual Report to Shareholders dated June 30, 1997 and
is qualified in its entirety by reference to such Semi-Annual Report.
</LEGEND>
<SERIES>
<NUMBER> 6
<NAME> LB SERIES FUND, INC. - WORLD GROWTH PORTFOLIO
</SERIES>
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> JUN-30-1997
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 227,416
<INVESTMENTS-AT-VALUE> 258,310
<RECEIVABLES> 683
<ASSETS-OTHER> 2,959
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 261,952
<PAYABLE-FOR-SECURITIES> 2,196
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2
<TOTAL-LIABILITIES> 2,198
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 224,511
<SHARES-COMMON-STOCK> 21,387
<SHARES-COMMON-PRIOR> 15,901
<ACCUMULATED-NII-CURRENT> 1,948
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2,405
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 30,889
<NET-ASSETS> 259,753
<DIVIDEND-INCOME> 2,490
<INTEREST-INCOME> 347
<OTHER-INCOME> 0
<EXPENSES-NET> 889
<NET-INVESTMENT-INCOME> 1,948
<REALIZED-GAINS-CURRENT> 2,669
<APPREC-INCREASE-CURRENT> 20,548
<NET-CHANGE-FROM-OPS> 25,165
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 161
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,485
<NUMBER-OF-SHARES-REDEEMED> 13
<SHARES-REINVESTED> 15
<NET-CHANGE-IN-ASSETS> 85,661
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (103)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 889
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 889
<AVERAGE-NET-ASSETS> 210,988
<PER-SHARE-NAV-BEGIN> 10.95
<PER-SHARE-NII> 0.09
<PER-SHARE-GAIN-APPREC> 1.12
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.01
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.15
<EXPENSE-RATIO> 0.85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
