<PAGE> PAGE 1
000 B000000 12/31/1998
000 C000000 0000813470
000 D000000 N
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000 F000000 Y
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000 I000000 6.1
000 J000000 U
001 A000000 ADVANCE CAPITAL I, INC.
001 B000000 811-5127
001 C000000 2483508543
002 A000000 ONE TOWNE SQUARE, SUITE 444
002 B000000 SOUTHFIELD
002 C000000 MI
002 D010000 48076
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006 000000 N
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007 C030300 N
007 C010400 4
007 C020400 RETIREMENT INCOME FUND
007 C030400 N
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007 C020500 CORNERSTONE STOCK FUND
007 C030500 N
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007 C010700 7
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010 A00AA01 ADVANCE CAPITAL GROUP, INC.
010 C01AA01 SOUTHFIELD
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020 A000001 INVESTMENT TECHNOLOGY GROUP, INC.
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<PAGE> PAGE 2
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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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008 A000501 ADVANCE CAPITAL MANAGEMENT, INC.
008 B000501 A
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<PAGE> PAGE 14
008 D010501 SOUTHFIELD
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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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SIGNATURE ROBERT J. CAPPELLI
TITLE VICE PRES-TREASURER
<PAGE>
Item 77B:Attachment
Accountant's report on internal control
REPORT OF INDEPENDENT ACCOUNTANTS
ON INTERNAL ACCOUNTING CONTROLS
To the Shareholders and
Board of Directors of
Advance Capital I, Inc.
In planning and performing our audit of the financial statements
and financial highlights of Advance Capital I, Inc. (being comprised
of Equity Growth Fund, Bond Fund, Balanced Fund, Retirement Income
Fund and Cornerstone Stock Fund and hereafter referred to as the
"Fund") for the year ended December 31, 1998 we considered the Fund's
internal control, including control activities for safeguarding
securities, in order to determine our auditing procedures for the
purposes of expressing our opinion on the financial statements and
financial highlights and to comply with the requirements of Form N-SAR,
and not to provide assurance on internal control.
The management of the Fund is responsible for establishing and
maintaining internal control. In fulfilling this responsibility,
estimates and judgments by management are required to assess the
expected benefits and related costs of internal controls.
Generally, controls that are relevant to an audit pertain to the
entity's objective of preparing financial statements and financial
highlights for external purposes that are fairly presented in
conformity with generally accepted accounting principles. These
controls include the safeguarding of assets against unauthorized
acquisitions, use or disposition.
Because of inherent limitations in internal control, error or
fraud may occur and not be detected. Also, projection of any
evaluation of internal control to future periods is subject to
the risk that it may become inadequate because of changes in
conditions or that the effectiveness of the design and operation
may deteriorate.
Our consideration of internal control would not necessarily
disclose all matters in internal control that might be material
weaknesses under standards established by the American Institute
of Certified Public Accountants. A material weakness is a
condition in which the design or operation of the specific
internal control components does not reduce to a relatively low
level the risk that misstatements caused by errors or fraud in
amounts that would be material in relation to the financial
statements and financial highlights being audited may occur
and not be detected within a timely period by employees in the
normal course of performing their assigned functions. However,
we noted no matters involving internal control and its operation,
including controls over safeguarding securities, that we consider
to be material weaknesses as defined above as of December 31, 1998.
This report is intended solely for the information and use of
management, the Trustees and the Securities and Exchange Commission.
PricewaterhouseCoopers LLP
February 5, 1999
<PAGE>
Item 77c:Attachment
Matters submitted to a vote of security holders
An Annual Meeting of Shareholders of Advance Capital I,
Inc. was held at the Novi Hilton, 21111 Haggerty Road, Novi,
Michigan, on July 24, 1998 for the following purposes:
1. To elect five Directors to hold office until the
next Annual Meeting of Shareholders or until their
successors have been elected and qualified.
Directors Elected at Meeting Votes For
---------------------------- ---------
Joseph A. Ahern 17,757,394
Richard W. Holtcamp 17,651,791
Harry Kalajian 17,745,511
John C. Shoemaker 17,787,614
Frank R. Zimmerman 17,732,111
2. To ratify the selection of PricewaterhouseCoopers LLP
as independent accountants of Advance Capital I, Inc.
for the fiscal year ending December 31, 1998
Votes For: 17,706,724
Votes Against: 30,183
Votes to Abstain: 130,664
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 001
<NAME> EQUITY GROWTH FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 38,864,495
<INVESTMENTS-AT-VALUE> 68,081,360
<RECEIVABLES> 25,638
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 002
<NAME> BOND FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 3,440,302
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<NET-CHANGE-IN-ASSETS> (456,813)
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<PER-SHARE-NAV-BEGIN> 10.52
<PER-SHARE-NII> .67
<PER-SHARE-GAIN-APPREC> .15
<PER-SHARE-DIVIDEND> (.67)
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<EXPENSE-RATIO> .52
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 003
<NAME> BALANCED FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 86,317,101
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<RECEIVABLES> 1,157,174
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<PER-SHARE-NII> .48
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<PER-SHARE-DIVIDEND> (.48)
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 004
<NAME> RETIREMENT INCOME FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 206,523,069
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<ACCUM-APPREC-OR-DEPREC> 10,432,619
<NET-ASSETS> 221,220,896
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<GROSS-EXPENSE> 1,674,744
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<PER-SHARE-NAV-BEGIN> 10.65
<PER-SHARE-NII> .73
<PER-SHARE-GAIN-APPREC> (.08)
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<PER-SHARE-DISTRIBUTIONS> (.01)
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<EXPENSE-RATIO> .79
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<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 005
<NAME> CORNERSTONE STOCK FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 7,737,862
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<OTHER-ITEMS-LIABILITIES> 1,104
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<PAID-IN-CAPITAL-COMMON> 7,083,015
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<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 233,274
<NET-ASSETS> 7,316,289
<DIVIDEND-INCOME> 208
<INTEREST-INCOME> 4,296
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<EXPENSES-NET> 1,603
<NET-INVESTMENT-INCOME> 2,901
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<EXPENSE-RATIO> .66
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</TABLE>
