[ARTICLE] 6
[CIK] 0000809991
[NAME] PAINEWEBBER MUNICIPAL SERIES
[SERIES]
[NUMBER] 1
[NAME] MUNICIPAL HIGH INCOME CLASS Y
[MULTIPLIER] 1000
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] FEB-28-2001
[PERIOD-START] MAR-01-2000
[PERIOD-END] AUG-31-2000
[INVESTMENTS-AT-COST] 230
[INVESTMENTS-AT-VALUE] 219
[RECEIVABLES] 5
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 224
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 1
[TOTAL-LIABILITIES] 1
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 236
[SHARES-COMMON-STOCK] 23
[SHARES-COMMON-PRIOR] 25
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] (2)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] (11)
[NET-ASSETS] 223
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 8
[OTHER-INCOME] 0
[EXPENSES-NET] (1)
[NET-INVESTMENT-INCOME] 7
[REALIZED-GAINS-CURRENT] 0
[APPREC-INCREASE-CURRENT] 1
[NET-CHANGE-FROM-OPS] 8
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] (7)
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 8
[NUMBER-OF-SHARES-REDEEMED] (11)
[SHARES-REINVESTED] 1
[NET-CHANGE-IN-ASSETS] (20)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] (2)
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 1
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 1
[AVERAGE-NET-ASSETS] 250
[PER-SHARE-NAV-BEGIN] 9.86
[PER-SHARE-NII] 0.29
[PER-SHARE-GAIN-APPREC] 0.06
[PER-SHARE-DIVIDEND] (0.29)
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 9.92
[EXPENSE-RATIO] 0.87
</TABLE>
