<PAGE> PAGE 1
000 B000000 12/31/1999
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002 D020000 5808
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004 000000 N
005 000000 N
006 000000 N
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007 C020200 KEMPER TOTAL RETURN PORTFOLIO
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007 C010300 3
007 C020300 KEMPER HIGH YIELD PORTFOLIO
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007 C010400 4
007 C020400 KEMPER GROWTH PORTFOLIO
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007 C010500 5
007 C020500 KEMPER GOVERNMENT SECURITIES PORTFOLIO
007 C030500 N
007 C010600 6
007 C020600 KEMPER INTERNATIONAL PORTFOLIO
007 C030600 N
007 C010700 7
007 C020700 KEMPER SMALL CAP GROWTH PORTFOLIO
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007 C010800 8
007 C020800 KEMPER INVESTMENT GRADE BOND PORTFOLIO
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007 C020900 KEMPER CONTRARIAN VALUE PORTFOLIO
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<PAGE> PAGE 2
007 C021000 KEMPER SMALL CAP VALUE PORTFOLIO
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007 C011100 11
007 C021100 KEMPER VALUE+GROWTH PORTFOLIO
007 C031100 N
007 C011200 12
007 C021200 KEMPER HORIZON 20+ PORTFOLIO
007 C031200 N
007 C011300 13
007 C021300 KEMPER HORIZON 10+ PORTFOLIO
007 C031300 N
007 C011400 14
007 C021400 KEMPER HORIZON 5 PORTFOLIO
007 C031400 N
007 C011500 15
007 C021500 KEMPER BLUE CHIP PORTFOLIO
007 C031500 N
007 C011600 16
007 C021600 KEMPER GLOBAL INCOME PORTFOLIO
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007 C011700 17
007 C021700 KEMPER DREMAN HIGH RETURN EQUITY PORTFOLIO
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007 C011800 18
007 C021800 KEMPER DREMAN FINANCIAL SERVICES PORTFOLIO
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007 C022000 KEMPER INT'L GROWTH AND INCOME PORTFOLIO
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007 C022100 KEMPER AGGRESSIVE GROWTH PORTFOLIO
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007 C022200 KEMPER TECHNOLOGY GROWTH PORTFOLIO
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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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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<PAGE> PAGE 33
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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<PAGE> PAGE 37
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<PAGE> PAGE 38
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<PAGE> PAGE 39
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<PAGE> PAGE 40
048 K020800 0.000
049 000800 N
050 000800 N
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064 B000800 N
066 A000800 N
067 000800 N
068 A000800 N
068 B000800 N
069 000800 N
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070 A020800 Y
070 B010800 N
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070 D020800 N
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070 E020800 N
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070 F020800 N
070 G010800 Y
070 G020800 N
<PAGE> PAGE 41
070 H010800 Y
070 H020800 N
070 I010800 N
070 I020800 N
070 J010800 Y
070 J020800 N
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070 L010800 Y
070 L020800 Y
070 M010800 Y
070 M020800 N
070 N010800 Y
070 N020800 N
070 O010800 N
070 O020800 N
070 P010800 N
070 P020800 N
070 Q010800 N
070 Q020800 N
070 R010800 N
070 R020800 N
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<PAGE> PAGE 42
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008 A000901 SCUDDER KEMPER INVESTMENTS, INC.
008 B000901 A
008 C000901 801-44899
008 D010901 NEW YORK
008 D020901 NY
008 D030901 10154
<PAGE> PAGE 43
008 D040901 0100
015 A000901 STATE STREET BANK AND TRUST COMPANY
015 B000901 C
015 C010901 BOSTON
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015 E010901 X
024 000900 N
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<PAGE> PAGE 44
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050 000900 N
051 000900 N
052 000900 N
053 A000900 N
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056 000900 Y
057 000900 N
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066 D000900 N
066 E000900 N
066 F000900 N
066 G000900 Y
067 000900 N
068 A000900 N
068 B000900 N
<PAGE> PAGE 45
069 000900 N
070 A010900 Y
070 A020900 Y
070 B010900 Y
070 B020900 N
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070 C020900 N
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070 D020900 N
070 E010900 Y
070 E020900 N
070 F010900 Y
070 F020900 N
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070 G020900 N
070 H010900 Y
070 H020900 N
070 I010900 N
070 I020900 N
070 J010900 Y
070 J020900 N
070 K010900 N
070 K020900 N
070 L010900 Y
070 L020900 Y
070 M010900 N
070 M020900 N
070 N010900 Y
070 N020900 N
070 O010900 N
070 O020900 N
070 P010900 N
070 P020900 N
070 Q010900 N
070 Q020900 N
070 R010900 N
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<PAGE> PAGE 46
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<PAGE> PAGE 47
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008 A001001 SCUDDER KEMPER INVESTMENTS, INC.
008 B001001 A
008 C001001 801-44899
008 D011001 NEW YORK
008 D021001 NY
008 D031001 10154
008 D041001 0100
015 A001001 STATE STREET BANK AND TRUST COMPANY
015 B001001 C
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015 E011001 X
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<PAGE> PAGE 48
028 H001000 0
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<PAGE> PAGE 49
062 P001000 0.0
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067 001000 N
068 A001000 N
068 B001000 N
069 001000 N
070 A011000 Y
070 A021000 Y
070 B011000 Y
070 B021000 N
070 C011000 Y
070 C021000 N
070 D011000 Y
070 D021000 N
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070 E021000 N
070 F011000 Y
070 F021000 N
070 G011000 Y
070 G021000 N
070 H011000 Y
070 H021000 N
070 I011000 Y
070 I021000 N
070 J011000 Y
070 J021000 N
070 K011000 N
070 K021000 N
070 L011000 Y
070 L021000 N
070 M011000 N
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070 N011000 Y
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070 O011000 Y
070 O021000 N
070 P011000 Y
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070 R011000 N
<PAGE> PAGE 50
070 R021000 N
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<PAGE> PAGE 51
074 J001000 307
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008 A001101 SCUDDER KEMPER INVESTMENTS, INC.
008 B001101 A
008 C001101 801-44899
008 D011101 NEW YORK
008 D021101 NY
008 D031101 10154
008 D041101 0100
015 A001101 STATE STREET BANK AND TRUST COMPANY
015 B001101 C
015 C011101 BOSTON
015 C021101 MA
015 C031101 02110
015 E011101 X
015 A001102 THE CHASE MANHATTAN BANK
015 B001102 C
015 C011102 BROOKLYN
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015 C031102 11245
015 E041102 X
024 001100 N
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<PAGE> PAGE 52
028 B041100 864
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<PAGE> PAGE 53
052 001100 N
053 A001100 N
055 A001100 N
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<PAGE> PAGE 54
070 H011100 Y
070 H021100 N
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070 J021100 N
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<PAGE> PAGE 55
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008 A001201 SCUDDER KEMPER INVESTMENTS, INC.
008 B001201 A
008 C001201 801-44899
008 D011201 NEW YORK
008 D021201 NY
008 D031201 10154
<PAGE> PAGE 56
008 D041201 0100
015 A001201 STATE STREET BANK AND TRUST COMPANY
015 B001201 C
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015 C021201 MA
015 C031201 02110
015 E011201 X
024 001200 Y
025 A001201 MORGAN STANLEY, DEAN WITTER & CO.
025 B001201 13-2655998
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025 D001201 142
025 A001202 MERRILL LYNCH & CO., INC.
025 B001202 13-5674085
025 C001202 E
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025 A001203 BEAR STEARNS COS., INC.
025 B001203 13-3299429
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025 A001204 CHASE MANHATTAN BANK
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<PAGE> PAGE 57
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<PAGE> PAGE 58
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<PAGE> PAGE 59
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<PAGE> PAGE 60
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008 A001301 SCUDDER KEMPER INVESTMENTS, INC.
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<PAGE> PAGE 61
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<PAGE> PAGE 62
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<PAGE> PAGE 63
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<PAGE> PAGE 64
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<PAGE> PAGE 65
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008 A001401 SCUDDER KEMPER INVESTMENTS, INC.
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008 D021401 NY
008 D031401 10154
008 D041401 0100
015 A001401 STATE STREET BANK AND TRUST COMPANY
015 B001401 C
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015 C021401 MA
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015 E011401 X
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<PAGE> PAGE 66
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<PAGE> PAGE 67
048 J021400 0.000
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<PAGE> PAGE 68
070 E011400 Y
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<PAGE> PAGE 69
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<PAGE> PAGE 70
008 A001501 SCUDDER KEMPER INVESTMENTS, INC.
008 B001501 A
008 C001501 801-44899
008 D011501 NEW YORK
008 D021501 NY
008 D031501 10154
008 D041501 0100
015 A001501 STATE STREET BANK AND TRUST COMPANY
015 B001501 C
015 C011501 BOSTON
015 C021501 MA
015 C031501 02110
015 E011501 X
015 A001502 THE CAHSE MANHATTAN BANK
015 B001502 C
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015 C031502 11245
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024 001500 Y
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025 B001501 13-3112953
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025 B001502 13-13-5100
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<PAGE> PAGE 71
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<PAGE> PAGE 72
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<PAGE> PAGE 73
070 K021500 N
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<PAGE> PAGE 74
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008 A001601 SCUDDER KEMPER INVESTMENTS, INC.
008 B001601 A
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008 D011601 NEW YORK
008 D021601 NY
008 D031601 10154
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008 A001602 SCUDDER INVESTMENTS LTD. (U.K)
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<PAGE> PAGE 75
015 A001601 STATE STREET BANK AND TRUST COMPANY
015 B001601 C
015 C011601 BOSTON
015 C021601 MA
015 C031601 02110
015 E011601 X
015 A001602 THE CHASE MANHATTAN BANK
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<PAGE> PAGE 76
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<PAGE> PAGE 77
068 B001600 Y
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<PAGE> PAGE 78
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<PAGE> PAGE 79
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008 A001701 SCUDDER KEMPER INVESTMENTS, INC.
008 B001701 A
008 C001701 801-44899
008 D011701 NEW YORK
008 D021701 NY
008 D031701 10154
008 D041701 0100
008 A001702 DREMAN VALUE MANAGEMENT, L.L.C.
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008 C001702 801-54255
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008 D031702 07701
015 A001701 STATE STREET BANK AND TRUST COMPANY
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015 C031701 02110
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<PAGE> PAGE 80
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<PAGE> PAGE 81
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<PAGE> PAGE 82
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<PAGE> PAGE 83
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<PAGE> PAGE 84
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<PAGE> PAGE 85
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<PAGE> PAGE 86
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<PAGE> PAGE 87
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<PAGE> PAGE 88
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<PAGE> PAGE 89
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<PAGE> PAGE 90
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<PAGE> PAGE 91
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<PAGE> PAGE 92
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<PAGE> PAGE 93
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<PAGE> PAGE 95
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<PAGE> PAGE 99
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<PAGE> PAGE 100
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<PAGE> PAGE 101
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<PAGE> PAGE 102
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<PAGE> PAGE 103
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<PAGE> PAGE 104
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<PAGE> PAGE 105
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<PAGE> PAGE 106
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<PAGE> PAGE 107
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<PAGE> PAGE 108
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<PAGE> PAGE 109
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<PAGE> PAGE 110
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<PAGE> PAGE 111
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<PAGE> PAGE 112
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<PAGE> PAGE 113
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<PAGE> PAGE 114
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<PAGE> PAGE 116
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<PAGE> PAGE 117
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<PAGE> PAGE 118
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<PAGE> PAGE 119
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<PAGE> PAGE 120
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<PAGE> PAGE 121
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<PAGE> PAGE 122
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<PAGE> PAGE 123
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SIGNATURE PHILIP J. COLLORA
TITLE V.P. & SECRETARY
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<CIK> 0000810573
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THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 1999
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<CIK> 0000810573
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THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 1999
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<CIK> 0000810573
<NAME> KEMPER VARIABLE SERIES
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THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 1999
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</LEGEND>
<CIK> 0000810573
<NAME> KEMPER VARIABLE SERIES
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<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 1999
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<CIK> 0000810573
<NAME> KEMPER VARIABLE SERIES
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<CIK> 0000810573
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<CIK> 0000810573
<NAME> KEMPER VARIABLE SERIES
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<PER-SHARE-NII> (.006)
<PER-SHARE-GAIN-APPREC> .689
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 2.65
<EXPENSE-RATIO> .71
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 1999
ANNUAL REPORT TO SHAREHOLDERS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000810573
<NAME> KEMPER VARIABLE SERIES
<SERIES>
<NUMBER> 008
<NAME> KEMPER INVESTMENT GRADE BOND PORTFOLIO
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 72,186
<INVESTMENTS-AT-VALUE> 69,938
<RECEIVABLES> 1,199
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 71,137
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 159
<TOTAL-LIABILITIES> 159
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 71,994
<SHARES-COMMON-STOCK> 64,475
<SHARES-COMMON-PRIOR> 44,781
<ACCUMULATED-NII-CURRENT> 3,221
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1,989)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (2,248)
<NET-ASSETS> 70,978
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3,913
<OTHER-INCOME> 0
<EXPENSES-NET> 417
<NET-INVESTMENT-INCOME> 3,496
<REALIZED-GAINS-CURRENT> (1,973)
<APPREC-INCREASE-CURRENT> (2,803)
<NET-CHANGE-FROM-OPS> (1,280)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,573)
<DISTRIBUTIONS-OF-GAINS> (524)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 32,477
<NUMBER-OF-SHARES-REDEEMED> (12,374)
<SHARES-REINVESTED> 2,097
<NET-CHANGE-IN-ASSETS> 18,823
<ACCUMULATED-NII-PRIOR> 1,701
<ACCUMULATED-GAINS-PRIOR> 286
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 385
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 419
<AVERAGE-NET-ASSETS> 64,473
<PER-SHARE-NAV-BEGIN> 1.17
<PER-SHARE-NII> .060
<PER-SHARE-GAIN-APPREC> (.085)
<PER-SHARE-DIVIDEND> (.030)
<PER-SHARE-DISTRIBUTIONS> (.010)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.10
<EXPENSE-RATIO> .65
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 1999
ANNUAL REPORT TO SHAREHOLDERS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000810573
<NAME> KEMPER VARIABLE SERIES
<SERIES>
<NUMBER> 009
<NAME> KEMPER CONTRARIAN VALUE PORTFOLIO
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 276,041
<INVESTMENTS-AT-VALUE> 237,406
<RECEIVABLES> 869
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 238,275
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 860
<TOTAL-LIABILITIES> 860
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 234,967
<SHARES-COMMON-STOCK> 161,528
<SHARES-COMMON-PRIOR> 150,119
<ACCUMULATED-NII-CURRENT> 5,712
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 35,371
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (38,635)
<NET-ASSETS> 237,415
<DIVIDEND-INCOME> 6,957
<INTEREST-INCOME> 1,191
<OTHER-INCOME> 0
<EXPENSES-NET> 2,229
<NET-INVESTMENT-INCOME> 5,919
<REALIZED-GAINS-CURRENT> 35,340
<APPREC-INCREASE-CURRENT> (71,035)
<NET-CHANGE-FROM-OPS> (29,776)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,476)
<DISTRIBUTIONS-OF-GAINS> (14,920)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 50,935
<NUMBER-OF-SHARES-REDEEMED> (47,519)
<SHARES-REINVESTED> 19,396
<NET-CHANGE-IN-ASSETS> (26,360)
<ACCUMULATED-NII-PRIOR> 4,433
<ACCUMULATED-GAINS-PRIOR> 15,335
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,079
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,236
<AVERAGE-NET-ASSETS> 277,015
<PER-SHARE-NAV-BEGIN> 1.76
<PER-SHARE-NII> .037
<PER-SHARE-GAIN-APPREC> (.194)
<PER-SHARE-DIVIDEND> (.030)
<PER-SHARE-DISTRIBUTIONS> (.010)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.47
<EXPENSE-RATIO> .80
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 1999
ANNUAL REPORT TO SHAREHOLDERS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000810573
<NAME> KEMPER VARIABLE SERIES
<SERIES>
<NUMBER> 010
<NAME> KEMPER SMALL CAP VALUE PORTFOLIO
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 91,583
<INVESTMENTS-AT-VALUE> 95,238
<RECEIVABLES> 436
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 95,674
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 481
<TOTAL-LIABILITIES> 481
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 101,165
<SHARES-COMMON-STOCK> 87,737
<SHARES-COMMON-PRIOR> 95,758
<ACCUMULATED-NII-CURRENT> 324
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (9,951)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,655
<NET-ASSETS> 95,193
<DIVIDEND-INCOME> 1,137
<INTEREST-INCOME> 333
<OTHER-INCOME> 0
<EXPENSES-NET> 804
<NET-INVESTMENT-INCOME> 666
<REALIZED-GAINS-CURRENT> (6,661)
<APPREC-INCREASE-CURRENT> 8,073
<NET-CHANGE-FROM-OPS> 2,078
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (889)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 20,971
<NUMBER-OF-SHARES-REDEEMED> (29,865)
<SHARES-REINVESTED> 889
<NET-CHANGE-IN-ASSETS> (6,816)
<ACCUMULATED-NII-PRIOR> 1,076
<ACCUMULATED-GAINS-PRIOR> (2,547)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 728
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 807
<AVERAGE-NET-ASSETS> 96,702
<PER-SHARE-NAV-BEGIN> 1.07
<PER-SHARE-NII> .007
<PER-SHARE-GAIN-APPREC> .023
<PER-SHARE-DIVIDEND> (.010)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.09
<EXPENSE-RATIO> .83
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 1999
ANNUAL REPORT TO SHAREHOLDERS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000810573
<NAME> KEMPER VARIABLE SERIES
<SERIES>
<NUMBER> 011
<NAME> KEMPER VALUE+GROWTH PORTFOLIO
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 143,151
<INVESTMENTS-AT-VALUE> 172,120
<RECEIVABLES> 169
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 172,289
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 223
<TOTAL-LIABILITIES> 223
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 128,293
<SHARES-COMMON-STOCK> 90,780
<SHARES-COMMON-PRIOR> 91,158
<ACCUMULATED-NII-CURRENT> 694
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 14,110
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 28,969
<NET-ASSETS> 172,066
<DIVIDEND-INCOME> 1,796
<INTEREST-INCOME> 225
<OTHER-INCOME> 0
<EXPENSES-NET> 1,293
<NET-INVESTMENT-INCOME> 728
<REALIZED-GAINS-CURRENT> 14,165
<APPREC-INCREASE-CURRENT> 9,769
<NET-CHANGE-FROM-OPS> 24,662
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (900)
<DISTRIBUTIONS-OF-GAINS> (3,152)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 21,193
<NUMBER-OF-SHARES-REDEEMED> (26,110)
<SHARES-REINVESTED> 4,052
<NET-CHANGE-IN-ASSETS> 19,745
<ACCUMULATED-NII-PRIOR> 878
<ACCUMULATED-GAINS-PRIOR> 3,282
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,171
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,298
<AVERAGE-NET-ASSETS> 157,223
<PER-SHARE-NAV-BEGIN> 1.67
<PER-SHARE-NII> .008
<PER-SHARE-GAIN-APPREC> .262
<PER-SHARE-DIVIDEND> (.010)
<PER-SHARE-DISTRIBUTIONS> (.035)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.90
<EXPENSE-RATIO> .82
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 1999
ANNUAL REPORT TO SHAREHOLDERS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000810573
<NAME> KEMPER VARIABLE SERIES
<SERIES>
<NUMBER> 012
<NAME> KEMPER HORIZON 20+ PORTFOLIO
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 34,766
<INVESTMENTS-AT-VALUE> 37,347
<RECEIVABLES> 175
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 37,522
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 113
<TOTAL-LIABILITIES> 113
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 30,949
<SHARES-COMMON-STOCK> 23,173
<SHARES-COMMON-PRIOR> 25,394
<ACCUMULATED-NII-CURRENT> 651
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3,229
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,580
<NET-ASSETS> 37,409
<DIVIDEND-INCOME> 464
<INTEREST-INCOME> 507
<OTHER-INCOME> 0
<EXPENSES-NET> 296
<NET-INVESTMENT-INCOME> 675
<REALIZED-GAINS-CURRENT> 3,354
<APPREC-INCREASE-CURRENT> (791)
<NET-CHANGE-FROM-OPS> 3,238
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (491)
<DISTRIBUTIONS-OF-GAINS> (246)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8,127
<NUMBER-OF-SHARES-REDEEMED> (12,221)
<SHARES-REINVESTED> 737
<NET-CHANGE-IN-ASSETS> (856)
<ACCUMULATED-NII-PRIOR> 512
<ACCUMULATED-GAINS-PRIOR> 174
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 228
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 297
<AVERAGE-NET-ASSETS> 37,916
<PER-SHARE-NAV-BEGIN> 1.51
<PER-SHARE-NII> .027
<PER-SHARE-GAIN-APPREC> .110
<PER-SHARE-DIVIDEND> (.020)
<PER-SHARE-DISTRIBUTIONS> (.010)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.61
<EXPENSE-RATIO> .78
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONATAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 1999
ANNUAL REPORT TO SHAREHOLDERS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000810573
<NAME> KEMPER VARIABLE SERIES
<SERIES>
<NUMBER> 013
<NAME> KEMPER HORIZON 10+ PORTFOLIO
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 63,150
<INVESTMENTS-AT-VALUE> 66,558
<RECEIVABLES> 459
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 78
<TOTAL-ASSETS> 67,095
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 132
<TOTAL-LIABILITIES> 132
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 57,729
<SHARES-COMMON-STOCK> 45,282
<SHARES-COMMON-PRIOR> 41,184
<ACCUMULATED-NII-CURRENT> 1,552
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4,275
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,407
<NET-ASSETS> 66,963
<DIVIDEND-INCOME> 592
<INTEREST-INCOME> 1,685
<OTHER-INCOME> 0
<EXPENSES-NET> 461
<NET-INVESTMENT-INCOME> 1,816
<REALIZED-GAINS-CURRENT> 4,274
<APPREC-INCREASE-CURRENT> (842)
<NET-CHANGE-FROM-OPS> 5,248
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,329)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 16,490
<NUMBER-OF-SHARES-REDEEMED> (12,186)
<SHARES-REINVESTED> 1,329
<NET-CHANGE-IN-ASSETS> 9,552
<ACCUMULATED-NII-PRIOR> 1,084
<ACCUMULATED-GAINS-PRIOR> 18
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 385
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 461
<AVERAGE-NET-ASSETS> 64,137
<PER-SHARE-NAV-BEGIN> 1.39
<PER-SHARE-NII> .040
<PER-SHARE-GAIN-APPREC> .075
<PER-SHARE-DIVIDEND> (.030)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.48
<EXPENSE-RATIO> .72
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 1999
ANNUAL REPORT TO SHAREHOLDERS AND IS QUALIFIED IN ITS ENTIRETY TO REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000810573
<NAME> KEMPER VARIABLE SERIES
<SERIES>
<NUMBER> 014
<NAME> KEMPER HORIZON 5 PORTFOLIO
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 41,499
<INVESTMENTS-AT-VALUE> 42,198
<RECEIVABLES> 468
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 2
<TOTAL-ASSETS> 42,668
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 38
<TOTAL-LIABILITIES> 38
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 39,036
<SHARES-COMMON-STOCK> 31,963
<SHARES-COMMON-PRIOR> 25,088
<ACCUMULATED-NII-CURRENT> 1,382
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,513
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 699
<NET-ASSETS> 42,630
<DIVIDEND-INCOME> 234
<INTEREST-INCOME> 1,548
<OTHER-INCOME> 0
<EXPENSES-NET> 295
<NET-INVESTMENT-INCOME> 1,487
<REALIZED-GAINS-CURRENT> 1,507
<APPREC-INCREASE-CURRENT> (1,020)
<NET-CHANGE-FROM-OPS> 1,974
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (861)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 13,925
<NUMBER-OF-SHARES-REDEEMED> (6,010)
<SHARES-REINVESTED> 861
<NET-CHANGE-IN-ASSETS> 9,889
<ACCUMULATED-NII-PRIOR> 894
<ACCUMULATED-GAINS-PRIOR> 12
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 234
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 295
<AVERAGE-NET-ASSETS> 39,017
<PER-SHARE-NAV-BEGIN> 1.31
<PER-SHARE-NII> .050
<PER-SHARE-GAIN-APPREC> .009
<PER-SHARE-DIVIDEND> (.030)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.33
<EXPENSE-RATIO> .76
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 1999
ANNUAL REPORT TO SHAREHOLDERS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000810573
<NAME> KEMPER VARIABLE SERIES
<SERIES>
<NUMBER> 015
<NAME> KEMPER BLUE CHIP PORTFOLIO
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 147,267
<INVESTMENTS-AT-VALUE> 185,323
<RECEIVABLES> 297
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 1
<TOTAL-ASSETS> 185,621
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 205
<TOTAL-LIABILITIES> 205
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 148,800
<SHARES-COMMON-STOCK> 118,172
<SHARES-COMMON-PRIOR> 62,168
<ACCUMULATED-NII-CURRENT> 593
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2,033)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 38,056
<NET-ASSETS> 185,416
<DIVIDEND-INCOME> 1,199
<INTEREST-INCOME> 492
<OTHER-INCOME> 0
<EXPENSES-NET> 866
<NET-INVESTMENT-INCOME> 825
<REALIZED-GAINS-CURRENT> 1,076
<APPREC-INCREASE-CURRENT> 28,750
<NET-CHANGE-FROM-OPS> 30,651
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (587)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 82,947
<NUMBER-OF-SHARES-REDEEMED> (6,496)
<SHARES-REINVESTED> 587
<NET-CHANGE-IN-ASSETS> 107,102
<ACCUMULATED-NII-PRIOR> 558
<ACCUMULATED-GAINS-PRIOR> (2,984)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 802
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 869
<AVERAGE-NET-ASSETS> 123,175
<PER-SHARE-NAV-BEGIN> 1.26
<PER-SHARE-NII> .009
<PER-SHARE-GAIN-APPREC> .308
<PER-SHARE-DIVIDEND> (.008)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.57
<EXPENSE-RATIO> .70
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 1999
ANNUAL REPORT TO SHAREHOLDERS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000810573
<NAME> KEMPER VARIABLE SERIES
<SERIES>
<NUMBER> 016
<NAME> KEMPER GLOBAL INCOME PORTFOLIO
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
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<TABLE> <S> <C>
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<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINACIAL INFORMATION EXTRACTED FROM THE 1999
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</LEGEND>
<CIK> 0000810573
<NAME> KEMPER VARIABLE SERIES
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<NAME> KEMPER DREMAN HIGH RETURN EQUITY PORTFOLIO
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<TABLE> <S> <C>
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<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 1999
ANNUAL REPORT TO SHAREHOLDERS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000810573
<NAME> KEMPER VARIABLE SERIES
<SERIES>
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<NAME> KEMPER DREMAN FINANCIAL SERVICES PORTFOLIO
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<S> <C>
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</TABLE>
<TABLE> <S> <C>
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<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 1999
ANNUAL REPORT TO SHAREHOLDERS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000810573
<NAME> KEMPER VARIABLE SERIES
<SERIES>
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<NAME> KEMPER GLOBAL BLUE CHIP PORTFOLIO
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<S> <C>
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 1999
ANNUAL REPORT TO SHAREHOLDERS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000810573
<NAME> KEMPER VARIABLE SERIES
<SERIES>
<NUMBER> 020
<NAME> KEMPER INT'L GROWTH AND INCOME PORTFOLIO
<MULTIPLIER> 1,000
<S> <C>
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 1999
ANNUAL REPORT TO SHAREHOLDERS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000810573
<NAME> KEMPER VARIABLE SERIES
<SERIES>
<NUMBER> 021
<NAME> KEMPER AGGRESSIVE GROWTH PORTFOLIO
<MULTIPLIER> 1,000
<S> <C>
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 1999
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SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000810573
<NAME> KEMPER VARIABLE SERIES
<SERIES>
<NUMBER> 022
<NAME> KEMPER TECHNOLOGY GROWTH PORTFOLIO
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<S> <C>
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<TABLE> <S> <C>
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<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 1999
ANNUAL REPORT TO SHAREHOLDERS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000810573
<NAME> KEMPER VARIABLE SERIES
<SERIES>
<NUMBER> 023
<NAME> KVS FOCUSED LARGE CAP GROWTH PORTFOLIO
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<S> <C>
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<TABLE> <S> <C>
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<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 1999
ANNUAL REPORT TO SHAREHOLDERS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
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</LEGEND>
<CIK> 0000810573
<NAME> KEMPER VARIABLE SERIES
<SERIES>
<NUMBER> 024
<NAME> KVS GROWTH AND INCOME PORTFOLIO
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<S> <C>
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<NET-CHANGE-FROM-OPS> 1,071
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 11,722
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 12,794
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 12
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 34
<AVERAGE-NET-ASSETS> 7,480
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> .149
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.15
<EXPENSE-RATIO> 1.10
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 1999
ANNUAL REPORT TO SHAREHOLDERS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000810573
<NAME> KEMPER VARIABLE SERIES
<SERIES>
<NUMBER> 025
<NAME> KVS GROWTH OPPORTUNITIES PORTFOLIO
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 2-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> OCT-29-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 11,258
<INVESTMENTS-AT-VALUE> 12,474
<RECEIVABLES> 326
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 4,372
<TOTAL-ASSETS> 17,172
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 13
<TOTAL-LIABILITIES> 13
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 15,942
<SHARES-COMMON-STOCK> 14,737
<SHARES-COMMON-PRIOR> 3,000
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,216
<NET-ASSETS> 17,159
<DIVIDEND-INCOME> 3
<INTEREST-INCOME> 7
<OTHER-INCOME> 0
<EXPENSES-NET> 14
<NET-INVESTMENT-INCOME> (4)
<REALIZED-GAINS-CURRENT> 1
<APPREC-INCREASE-CURRENT> 1,216
<NET-CHANGE-FROM-OPS> 1,213
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 12,946
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 14,159
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 12
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 34
<AVERAGE-NET-ASSETS> 7,393
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> .164
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.16
<EXPENSE-RATIO> 1.10
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 1999
ANNUAL REPORT TO SHAREHOLDERS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000810573
<NAME> KEMPER VARIABLE SERIES
<SERIES>
<NUMBER> 026
<NAME> KEMPER INDEX 500 PORTFOLIO
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 4-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> SEP-1-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 29,781
<INVESTMENTS-AT-VALUE> 31,585
<RECEIVABLES> 747
<ASSETS-OTHER> 20
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 32,352
<PAYABLE-FOR-SECURITIES> 8
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 11
<TOTAL-LIABILITIES> 19
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 30,246
<SHARES-COMMON-STOCK> 29,513
<SHARES-COMMON-PRIOR> 5,000
<ACCUMULATED-NII-CURRENT> 179
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 84
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,823
<NET-ASSETS> 32,333
<DIVIDEND-INCOME> 50
<INTEREST-INCOME> 53
<OTHER-INCOME> 103
<EXPENSES-NET> 27
<NET-INVESTMENT-INCOME> 179
<REALIZED-GAINS-CURRENT> 84
<APPREC-INCREASE-CURRENT> 1,823
<NET-CHANGE-FROM-OPS> 2,087
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 25,334
<NUMBER-OF-SHARES-REDEEMED> (88)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 27,333
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 22
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 41
<AVERAGE-NET-ASSETS> 14,531
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .010
<PER-SHARE-GAIN-APPREC> .086
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.10
<EXPENSE-RATIO> .55
</TABLE>
Shareholder Meeting at a Special Meeting of Shareholders held on July 29, 1999
shareholders of the Kemper-Dreman Financial Services Portfolio voted for the
following proposal:
1. To approve the change to the Fund's sub-classification under the
Investment Company Act of 1940 from a diversified company to a
non-diversified company.
Affirmative 9,546,170
Against 481,265
Abstain 845,672
