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<PAGE> PAGE 2
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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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 19
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<PAGE> PAGE 20
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SIGNATURE DENNIS J. WESTLEY
TITLE SVP
<TABLE> <S> <C>
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<LEGEND>
This schedule contains summary financial information extracted from
6/30/96 NSAR and is qualified in its entirety by reference to such NSAR.
</LEGEND>
<CIK> 0000814436
<NAME> WILLIAM PENN INTEREST INCOME FUND
<SERIES>
<NUMBER> 1
<NAME> US GOVERNMENT SECURITIES A
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from
6/30/96 NSAR and is qualified in its entirety by reference to such NSAR.
</LEGEND>
<CIK> 0000814436
<NAME> WILLIAM PENN INTEREST INCOME FUND
<SERIES>
<NUMBER> 2
<NAME> US GOVERNMENT SECURITIES C
<S> <C>
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<FISCAL-YEAR-END> DEC-31-1996
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from
6/30/96 NSAR and is qualified in its entirety by reference to such NSAR.
</LEGEND>
<CIK> 0000814436
<NAME> WILLIAM PENN INTEREST INCOME FUND
<SERIES>
<NUMBER> 3
<NAME> QUALITY INCOME PORTFOLIO A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from
6/30/96 NSAR and is qualified in its entirety by reference to such NSAR.
</LEGEND>
<CIK> 0000814436
<NAME> WILLIAM PENN INTEREST INCOME FUND
<SERIES>
<NUMBER> 4
<NAME> QUALITY INCOME PORTFOLIO C
<S> <C>
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from
6/30/96 NSAR and is qualified in its entirety by reference to such NSAR.
</LEGEND>
<CIK> 0000814436
<NAME> WILLIAM PENN INTEREST INCOME FUND
<SERIES>
<NUMBER> 5
<NAME> PENNSYLVANIA TAX FREE INCOME PORTFOLIO A
<S> <C>
<PERIOD-TYPE> 6-MOS
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<TABLE> <S> <C>
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<LEGEND>
This schedule contains summary financial information extracted from
6/30/96 NSAR and is qualified in its entirety by reference to such NSAR.
</LEGEND>
<CIK> 0000814436
<NAME> WILLIAM PENN INTEREST INCOME FUND
<SERIES>
<NUMBER> 6
<NAME> PENNSYLVANIA TAX FREE INCOME PORTFOLIO C
<S> <C>
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from
6/30/96 NSAR and is qualified in its entirety by reference to such NSAR.
</LEGEND>
<CIK> 0000814436
<NAME> WILLIAM PENN INTEREST INCOME FUND
<SERIES>
<NUMBER> 7
<NAME> MONEY MARKET PORTFOLIO
<S> <C>
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</TABLE>
<TABLE> <S> <C>
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<LEGEND>
This schedule contains summary financial information extracted from
6/30/96 NSAR and is qualified in its entirety by reference to such NSAR.
</LEGEND>
<CIK> 0000814436
<NAME> WILLIAM PENN INTEREST INCOME FUND
<SERIES>
<NUMBER> 8
<NAME> NEW YORK TAX FREE INCOME PORTFOLIO A
<S> <C>
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</TABLE>
