PAGE
PAGE 1
000 B000000 12/31/98
000 C000000 825063
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 MUTUAL SERIES FUND,INC.
001 B000000 811-5387
001 C000000 9739122086
002 A000000 51 JOHN F. KENNEDY PKWY
002 B000000 SHORT HILLS
002 C000000 NJ
002 D010000 07078
002 D020000 3091
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 6
007 C010100 1
007 C020100 MUTUAL SHARES FUND
007 C030100 N
007 C010200 2
007 C020200 MUTUAL QUALIFIED FUND
007 C030200 N
007 C010300 3
007 C020300 MUTUAL BEACON FUND
007 C030300 N
007 C010400 4
007 C020400 MUTUAL DISCOVERY FUND
007 C030400 N
007 C010500 5
007 C020500 MUTUAL EUROPEAN FUND
007 C030500 N
007 C010600 6
007 C020600 MUTUAL FINANCIAL SERVICES FUND
007 C030600 N
PAGE
PAGE 2
008 A00AA01 FRANKLIN MUTUAL ADVISORS,INC
008 B00AA01 A
008 C00AA01 801-53068
008 D01AA01 SHORT HILLS
008 D02AA01 NJ
008 D03AA01 07078
010 A00AA01 FRANKLIN TEMPLETON SERVICES, INC.
010 C01AA01 FORT LAUDERDALE
010 C02AA01 FL
010 C03AA01 33394
010 C04AA01 3091
011 A00AA01 FRANKLIN TEMPLETON DISTRIBUTORS, INC.
011 B00AA01 8-00000
011 C01AA01 SAN MATEO
011 C02AA01 CA
011 C03AA01 94404
012 A00AA01 FRANKLIN TEMPLETON INVESTOR SERVICES, INC
012 B00AA01 84-0000000
012 C01AA01 ST. PETERSBURG
012 C02AA01 FL
012 C03AA01 33701
012 C04AA01 3628
013 A00AA01 ERNST & YOUNG LLP
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02116
018 00AA00 Y
019 A00AA00 Y
PAGE
PAGE 3
019 B00AA00 197
019 C00AA00 FRNKTEMGRP
020 A000001 JP MORGAN SECURITIES
020 B000001 13-3224016
020 C000001 3267
020 A000002 MERRILL LYNCH
020 B000002 13-5674085
020 C000002 3046
020 A000003 SALMON SMITH BARNEY
020 B000003 22-1660266
020 C000003 2218
020 A000004 GOLDMAN, SACHS, & CO.
020 B000004 13-5108880
020 C000004 2121
020 A000005 BANKERS TRUST
020 B000005 13-3311934
020 C000005 2017
020 A000006 FIRST BOSTON CORPORATION
020 B000006 13-5659485
020 C000006 1949
020 A000007 DEUTSCHE MORGAN GRENFELL
020 B000007 13-2730828
020 C000007 1838
020 A000008 UBS SECURITIES, INC.
020 B000008 13-3340045
020 C000008 1738
020 A000009 MORGAN STANLEY & CO. INC.
020 B000009 13-2655998
020 C000009 1385
020 A000010 BEAR STEARNS & CO.
020 B000010 13-3299429
020 C000010 1317
021 000000 50627
022 A000001 FIRST BOSTON CORPORATION
022 B000001 13-5659485
022 C000001 10202037
022 D000001 2556725
022 A000002 MERILL LYNCH
022 B000002 13-5674085
022 C000002 9850339
022 D000002 1286728
022 A000003 HONG KONG SHANGHAI BANCORP
022 B000003 13-2650272
022 C000003 1384030
022 D000003 1331652
022 A000004 FIRST TENNESSEE BANK
022 B000004 62-0201385
022 C000004 700297
022 D000004 1502717
022 A000005 BANK OF NEW YORK
022 B000005 13-5160382
PAGE
PAGE 4
022 C000005 2130912
022 D000005 0
022 A000006 BEAR STEARNS & CO
022 B000006 13-3299429
022 C000006 970464
022 D000006 931417
022 A000007 BANK OF AMERICA
022 B000007 94-1687665
022 C000007 959380
022 D000007 845161
022 A000008 JP MORGAN SECURITIES, INC.
022 B000008 13-3224016
022 C000008 897468
022 D000008 700743
022 A000009 SALOMON SMITH BARNEY
022 B000009 22-1660266
022 C000009 976802
022 D000009 443635
022 A000010 GOLDMAN, SACHS & CO
022 B000010 13-5108880
022 C000010 771096
022 D000010 626228
023 C000000 43958734
023 D000000 23628709
026 A000000 N
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 Y
053 B00AA00 Y
053 C00AA00 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
PAGE
page 5
054 K00AA00 N
054 L00AA00 Y
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
062 A00AA00 N
062 B00AA00 0.0
062 C00AA00 0.0
062 D00AA00 0.0
062 E00AA00 0.0
062 F00AA00 0.0
062 G00AA00 0.0
062 H00AA00 0.0
062 I00AA00 0.0
062 J00AA00 0.0
062 K00AA00 0.0
062 L00AA00 0.0
062 M00AA00 0.0
062 N00AA00 0.0
062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 0.0
063 A00AA00 0
063 B00AA00 0.0
077 A000000 Y
077 B000000 Y
077 Q010000 Y
078 000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 B00AA00 NONE
080 C00AA00 175000
081 A00AA00 Y
081 B00AA00 191
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
PAGE
PAGE 6
086 F010000 0
086 F020000 0
015 A000101 BANKBOSTON, N.A.
015 B000101 S
015 C010101 BUENOS AIRES
015 D010101 ARGENTINA
015 D020101 1005
015 E040101 X
015 A000102 NATIONAL AUSTRALIA BANK
015 B000102 S
015 C010102 MELBOURNE
015 D010102 AUSTRALIA
015 D020102 3000
015 E040102 X
015 A000103 CREDITANSTALT BANKVEREIN AG
015 B000103 S
015 C010103 VIENNA
015 D010103 AUSTRIA
015 D020103 1090
015 E040103 X
015 A000104 BANQUE BRUXELLES LAMBERT
015 B000104 S
015 C010104 BRUSSELS
015 D010104 BELGIUM
015 D020104 1040
015 E040104 X
015 A000105 THE BANK OF BERMUDA
015 B000105 S
015 C010105 HAMILTON
015 D010105 BERMUDA
015 E040105 X
015 A000106 STANBIC BANK OF BOTSWANA
015 B000106 S
015 C010106 GABORONE
015 D010106 BOTSWANA
015 D020106 00168
015 E040106 X
015 A000107 BANKBOSTON, N.A.
015 B000107 S
015 C010107 SAO PAULO
015 D010107 BRAZIL
015 D020107 01009-000
015 E040107 X
015 A000108 THE BRITISH BANK OF THE MIDDLE EAST
015 B000108 S
015 C010108 MANAMA
015 D010108 BAHRAIN
015 D020108 304
015 E040108 X
015 A000109 ROYAL BANK OF CANADA
015 B000109 S
PAGE
PAGE 7
015 C010109 TORONTO
015 D010109 CANADA
015 D020109 M5J 2J5
015 E040109 X
015 A000110 BANK OF CYPRUS
015 B000110 S
015 C010110 NICOSIA
015 D010110 CYPRUS
015 D020110 1160
015 E040110 X
015 A000111 DEN DANSKE BANK
015 B000111 S
015 C010111 COPENHAGEN
015 D010111 DENMARK
015 D020111 1092
015 E040111 X
015 A000112 MERITA BANK LTD.
015 B000112 S
015 C010112 HELSINKI
015 D010112 FINLAND
015 D020112 00100
015 E040112 X
015 A000113 BANQUE PARIBAS
015 B000113 S
015 C010113 PARIS
015 D010113 FRANCE
015 D020113 75009
015 E040113 X
015 A000114 DRESDNER BANK
015 B000114 S
015 C010114 FRANKFURT
015 D010114 GERMANY
015 D020114 60301
015 E040114 X
015 A000115 MERCHANT BANK OF GHANA LTD
015 B000115 S
015 C010115 ACCRA
015 D010115 GHANA
015 E040115 X
015 A000116 NATIONAL BANK OF GREECE
015 B000116 S
015 C010116 ATHENS
015 D010116 GREECE
015 D020116 102 32
015 E040116 X
015 A000117 HONG KONG AND SHANGHAI BANKING CORP
015 B000117 S
015 C010117 HONG KONG
015 D010117 HONG KONG
015 E040117 X
015 A000118 THE HONG KONG AND SHANGHAI BANKING CORP
PAGE
PAGE 8
015 B000118 S
015 C010118 JAKARTA
015 D010118 INDONESIA
015 D020118 10023
015 E040118 X
015 A000119 ALLIED IRISH BANKS PLC
015 B000119 S
015 C010119 DUBLIN
015 D010119 IRELAND
015 D020119 1
015 E040119 X
015 A000120 BANCA COMMERCIALE ITALIANA
015 B000120 S
015 C010120 MILANO
015 D010120 ITALY
015 D020120 20121
015 E040120 X
015 A000121 SOCIETE GENERALE DE BANQUES EN COTE D'IVOIRE
015 B000121 S
015 C010121 ABIDJAN
015 D010121 IVORY COAST
015 D020121 10 BP 1355
015 E040121 X
015 A000122 BANK OF TOKYO-MITSUBISHI LIMITED
015 B000122 S
015 C010122 TOKYO
015 D010122 JAPAN
015 E040122 X
015 A000123 THE BRITISH BANK OF THE MIDDLE EAST
015 B000123 S
015 C010123 AMMAN
015 D010123 JORDAN
015 E040123 X
015 A000124 STANBIC BANK KENYA LTD
015 B000124 S
015 C010124 NAIROBI
015 D010124 KENYA
015 E040124 X
015 A000125 BANQUE INTERNATIONALE A LUXEMBOURG
015 B000125 S
015 C010125 LUXEMBOURG
015 D010125 LUXEMBOURG
015 D020125 2953
015 E040125 X
015 A000126 HONG KONG BANK MALAYSIA BERHAD
015 B000126 S
015 C010126 KUALA LUMPUR
015 D010126 MALAYSIA
015 D020126 50100
015 E040126 X
015 A000127 BANCO NACIONAL DE MEXICO
PAGE
PAGE 9
015 B000127 S
015 C010127 MEXICO, D.F.
015 D010127 MEXICO
015 D020127 01A10
015 E040127 X
015 A000128 BANQUE COMMERCIALE DU MAROC
015 B000128 S
015 C010128 CASABLANCA
015 D010128 MOROCCO
015 D020128 2000
015 E040128 X
015 A000129 STANBIC BANK NAMIBIA LTD
015 B000129 S
015 C010129 WINDHOEK
015 D010129 NAMIBIA
015 E040129 X
015 A000130 HONG KONG AND SHANGHAI BANKING CORP
015 B000130 S
015 C010130 PORT LOUIS
015 D010130 MAURITIUS
015 E040130 X
015 A000131 DEN NORSKE BANK ASA
015 B000131 S
015 C010131 OSLO
015 D010131 NORWAY
015 D020131 0107
015 E040131 X
015 A000132 MEES PIERSON
015 B000132 S
015 C010132 AMSTERDAM
015 D010132 NETHERLANDS
015 D020132 1012 KK
015 E040132 X
015 A000133 ANZ BANKING GROUP LIMITED
015 B000133 S
015 C010133 WELLINGTON
015 D010133 NEW ZEALAND
015 E040133 X
015 A000134 STANDARD CHARTERED BANK
015 B000134 S
015 C010134 KARACHI
015 D010134 PAKISTAN
015 D020134 74000
015 E040134 X
015 A000135 CITIBANK N.A.
015 B000135 S
015 C010135 LIMA
015 D010135 PERU
015 D020135 27
015 E040135 X
015 A000136 HONG KONG AND SHANGHAI BANKING CORP
PAGE
PAGE 10
015 B000136 S
015 C010136 PASIG CITY
015 D010136 PHILIPPINES
015 E040136 X
015 A000137 BANCO COMERCIAL PORTUGUES
015 B000137 S
015 C010137 LISBON
015 D010137 PORTUGAL
015 D020137 1100
015 E040137 X
015 A000138 THE BRITISH BANK OF THE MIDDLE EAST
015 B000138 S
015 C010138 MUSCAT
015 D010138 OMAN
015 D020138 112
015 E040138 X
015 A000139 UNITED OVERSEAS BANK
015 B000139 S
015 C010139 SINGAPORE
015 D010139 SINGAPORE
015 D020139 048624
015 E040139 X
015 A000140 STANDARD BANK OF SOUTH AFRICA
015 B000140 S
015 C010140 JOHANNESBURG
015 D010140 SOUTH AFRICA
015 D020140 2001
015 E040140 X
015 A000141 STANDARD CHARTERED BANK
015 B000141 S
015 C010141 SEOUL
015 D010141 SOUTH KOREA
015 E040141 X
015 A000142 BANCO BILBAO VIZCAYA
015 B000142 S
015 C010142 MADRID
015 D010142 SPAIN
015 D020142 28046
015 E040142 X
015 A000143 STANBIC BANK SWAZILAND LTD
015 B000143 S
015 C010143 MBABANE
015 D010143 SWAZILAND
015 E040143 X
015 A000144 SKANDINAVISKA ENSKILDA BANKEN
015 B000144 S
015 C010144 STOCKHOLM
015 D010144 SWEDEN
015 D020144 10640
015 E040144 X
015 A000145 UNION BANK OF SWITZERLAND
PAGE
PAGE 11
015 B000145 S
015 C010145 ZURICH
015 D010145 SWITZERLAND
015 E040145 X
015 A000146 STANDARD CHARTERED BANK
015 B000146 S
015 C010146 BANGKOK
015 D010146 THAILAND
015 D020146 10400
015 E040146 X
015 A000147 OTTOMAN BANK
015 B000147 S
015 C010147 ISTANBUL
015 D010147 TURKEY
015 D020147 80000
015 E040147 X
015 A000148 THE BANK OF NEW YORK
015 B000148 S
015 C010148 LONDON
015 D010148 UNITED KINGDOM
015 D020148 EC4M 6YE
015 E040148 X
015 A000149 THE BANK OF NEW YORK
015 B000149 C
015 C010149 NEW YORK
015 C020149 NY
015 C030149 10286
015 E010149 X
015 A000150 BANKBOSTON, N.A.
015 B000150 S
015 C010150 MONTEVIDEO
015 D010150 URUGUAY
015 E040150 X
015 A000151 STANBIC BANK ZAMBIA LTD
015 B000151 S
015 C010151 LUSAKA
015 D010151 ZAMBIA
015 E040151 X
015 A000152 STANBIC BANK ZIMBABWE LTD
015 B000152 S
015 C010152 HARARE
015 D010152 ZIMBABWE
015 E040152 X
015 A000153 CITIBANK BUDAPEST RT
015 B000153 S
015 C010153 BUDAPEST
015 D010153 HUNGARY
015 D020153 H-1051
015 E040153 X
015 A000154 THE FIRST NATIONAL BANK OF CHICAGO
015 B000154 S
PAGE
PAGE 12
015 C010154 LONDON
015 D010154 UNITED KINGDOM
015 D020154 NW1 3FN
015 E040154 X
015 A000155 CEDEL BANK
015 B000155 S
015 C010155 LUXEMBOUG
015 D010155 LUXEMBOURG
015 D020155 L-1331
015 E040155 X
015 A000156 EUROCLEAR
015 B000156 S
015 C010156 BRUSSELS
015 D010156 BELGIUM
015 D020156 B-1210
015 E040156 X
024 000100 Y
025 A000101 MORGAN STANLEY & CO. INC.
025 B000101 13-2655998
025 C000101 E
025 D000101 183748
025 A000102 BEAR STEARNS & CO. INC.
025 B000102 13-4946705
025 C000102 E
025 D000102 68475
025 A000102 BANKERS TRUST COPR
025 B000102 13-3311934
025 C000102 E
025 D000102 14874
PAGE
PAGE 13
028 A010100 139303
028 A020100 153603
028 A030100 0
028 A040100 255560
028 B010100 113065
028 B020100 0
028 B030100 0
028 B040100 364136
028 C010100 89844
028 C020100 0
028 C030100 0
028 C040100 256183
028 D010100 75017
028 D020100 0
028 D030100 0
028 D040100 259000
028 E010100 72629
028 E020100 0
028 E030100 0
028 E040100 247416
028 F010100 110688
028 F020100 550409
028 F030100 0
028 F040100 443908
028 G010100 600546
028 G020100 704012
028 G030100 0
028 G040100 1826203
028 H000100 213242
029 000100 Y
030 A000100 26825
030 B000100 5.75
030 C000100 0.00
031 A000100 1026
031 B000100 0
032 000100 25799
033 000100 0
034 000100 Y
035 000100 986
036 A000100 Y
036 B000100 0
037 000100 N
038 000100 0
039 000100 N
040 000100 Y
041 000100 Y
042 A000100 0
PAGE
PAGE 14
042 B000100 0
042 C000100 0
042 D000100 0
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 100
043 000100 14688
044 000100 1260
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.600
048 A010100 0
048 A020100 0.000
048 B010100 0
048 B020100 0.000
048 C010100 0
048 C020100 0.000
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 0
048 K020100 0.000
055 A000100 N
055 B000100 N
056 000100 Y
057 000100 N
058 A000100 N
059 000100 Y
060 A000100 Y
060 B000100 Y
061 000100 1000
066 A000100 Y
066 B000100 N
066 C000100 N
066 D000100 N
066 E000100 Y
066 F000100 N
066 G000100 N
PAGE
PAGE 15
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 Y
070 B010100 Y
070 B020100 Y
070 C010100 Y
070 C020100 Y
070 D010100 Y
070 D020100 N
070 E010100 Y
070 E020100 N
070 F010100 Y
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 Y
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 Y
070 K010100 Y
070 K020100 N
070 L010100 Y
070 L020100 Y
070 M010100 Y
070 M020100 Y
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 Y
070 Q020100 N
070 R010100 Y
070 R020100 Y
071 A000100 6382679
071 B000100 5671870
071 C000100 8165545
071 D000100 69
072 A000100 12
072 B000100 134619
072 C000100 148728
072 D000100 0
072 E000100 0
072 F000100 59069
072 G000100 7603
PAGE
page 16
072 H000100 0
072 I000100 6254
072 J000100 618
072 K000100 0
072 L000100 532
072 M000100 265
072 N000100 756
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 52
072 S000100 262
072 T000100 14688
072 U000100 0
072 V000100 0
072 W000100 174
072 X000100 90273
072 Y000100 3300
072 Z000100 196374
072AA000100 1319235
072BB000100 736053
072CC010100 0
072CC020100 827302
072DD010100 164855
072DD020100 50208
072EE000100 563713
073 A010100 0.0000
073 A020100 0.0000
073 B000100 1.2900
073 C000100 0.0000
074 A000100 62249
074 B000100 0
074 C000100 1180313
074 D000100 385619
074 E000100 77655
074 F000100 7131872
074 G000100 0
074 H000100 0
074 I000100 5644
074 J000100 89282
074 K000100 533
074 L000100 31163
074 M000100 279692
074 N000100 9244022
074 O000100 65475
074 P000100 8310
074 Q000100 0
074 R010100 0
074 R020100 332167
074 R030100 17
074 R040100 55449
PAGE
PAGE 17
074 S000100 0
074 T000100 8782604
074 U010100 321254
074 U020100 128638
074 V010100 0.00
074 V020100 0.00
074 W000100 0.0000
074 X000100 385359
074 Y000100 592359
075 A000100 0
075 B000100 9841540
076 000100 0.00
015 A000201 BANKBOSTON, N.A.
015 B000201 S
015 C010201 BUENOS AIRES
015 D010201 ARGENTINA
015 D020201 1005
015 E040201 X
015 A000202 NATIONAL AUSTRALIA BANK
015 B000202 S
015 C010202 MELBOURNE
015 D010202 AUSTRALIA
015 D020202 3000
015 E040202 X
015 A000203 CREDITANSTALT BANKVEREIN AG
015 B000203 S
015 C010203 VIENNA
015 D010203 AUSTRIA
015 D020203 1090
015 E040203 X
015 A000204 BANQUE BRUXELLES LAMBERT
015 B000204 S
015 C010204 BRUSSELS
015 D010204 BELGIUM
015 D020204 1040
015 E040204 X
015 A000205 THE BANK OF BERMUDA
015 B000205 S
015 C010205 HAMILTON
015 D010205 BERMUDA
015 E040205 X
015 A000206 STANBIC BANK BOTSWANA
015 B000206 S
015 C010206 GABORONE
015 D010206 BOTSWANA
015 D020206 00168
015 E040206 X
015 A000207 BANKBOSTON, N.A.
015 B000207 S
015 C010207 SAO PAULO
015 D010207 BRAZIL
PAGE
PAGE 18
015 D020207 01009-000
015 E040207 X
015 A000208 THE BRITISH BANK OF THE MIDDLE EAST
015 B000208 S
015 C010208 MANAMA
015 D010208 BAHRAIN
015 D020208 304
015 E040208 X
015 A000209 ROYAL BANK OF CANADA
015 B000209 S
015 C010209 TORONTO
015 D010209 CANADA
015 D020209 M5J 2J5
015 E040209 X
015 A000210 BANK OF CYPRUS
015 B000210 S
015 C010210 NICOSIA
015 D010210 CYPRUS
015 D020210 1160
015 E040210 X
015 A000211 DEN DANSKE BANK
015 B000211 S
015 C010211 COPENHAGEN
015 D010211 DENMARK
015 D020211 1092
015 E040211 X
015 A000212 MERITA BANK LTD
015 B000212 S
015 C010212 HELSINKI
015 D010212 FINLAND
015 D020212 00100
015 E040212 X
015 A000213 BANQUE PARIBAS
015 B000213 S
015 C010213 PARIS
015 D010213 FRANCE
015 D020213 75009
015 E040213 X
015 A000214 DRESDNER BANK
015 B000214 S
015 C010214 FRANKFURT
015 D010214 GERMANY
015 D020214 60301
015 E040214 X
015 A000215 MERCHANT BANK OF GHANA LTD.
015 B000215 S
015 C010215 ACCRA
015 D010215 GHANA
015 E040215 X
015 A000216 NATIONAL BANK OF GREECE
015 B000216 S
PAGE
PAGE 19
015 C010216 ATHENS
015 D010216 GREECE
015 D020216 102 32
015 E040216 X
015 A000217 HONG KONG AND SHANGHAI BANKING CORP.
015 B000217 S
015 C010217 HONG KONG
015 D010217 HONG KONG
015 E040217 X
015 A000218 THE HONKONG AND SHANGHAI BANKING CORP
015 B000218 S
015 C010218 JAKARTA
015 D010218 INDONESIA
015 D020218 10023
015 E040218 X
015 A000219 ALLIED IRISH BANKS PLC
015 B000219 S
015 C010219 DUBLIN
015 D010219 IRELAND
015 D020219 1
015 E040219 X
015 A000220 BANCA COMMERCIALE ITALIANA
015 B000220 S
015 C010220 MILANO
015 D010220 ITALY
015 D020220 20121
015 E040220 X
015 A000221 SOCIETE GENERALE DE BANQUES EN COTE D'IVOIRE
015 B000221 S
015 C010221 ABIDJAN
015 D010221 IVORY COAST
015 D020221 10 BP 1355
015 E040221 X
015 A000222 BANK OF TOKYO-MITSUBISHI LIMITED
015 B000222 S
015 C010222 TOKYO
015 D010222 JAPAN
015 E040222 X
015 A000223 THE BRITISH BANK OF THE MIDDLE EAST
015 B000223 S
015 C010223 AMMAN
015 D010223 JORDAN
015 E040223 X
015 A000224 STANBIC BANK KENYA LTD.
015 B000224 S
015 C010224 NAIROBI
015 D010224 KENYA
015 E040224 X
015 A000225 BANQUE INTERNATIONALE A LUXEMBOURG
015 B000225 S
015 C010225 LUXEMBOURG
PAGE
PAGE 20
015 D010225 LUXEMBOURG
015 D020225 2953
015 E040225 X
015 A000226 HONG KONG BANK MALAYSIA BERHAD
015 B000226 S
015 C010226 KUALA LUMPUR
015 D010226 MALAYSIA
015 D020226 50100
015 E040226 X
015 A000227 BANCO NACIONAL DE MEXICO
015 B000227 S
015 C010227 MEXICO, D.F.
015 D010227 MEXICO
015 D020227 01A10
015 E040227 X
015 A000228 BANQUE COMMERCIALE DU MAROC
015 B000228 S
015 C010228 CASABLANCA
015 D010228 MOROCCO
015 D020228 2000
015 E040228 X
015 A000229 STANBIC BANK NAMIBIA LTD
015 B000229 S
015 C010229 WINDHOEK
015 D010229 NAMIBIA
015 E040229 X
015 A000230 THE HONG KONG AND SHANGHAI BANKING CORP
015 B000230 S
015 C010230 PORT LOUIS
015 D010230 MAURITIUS
015 E040230 X
015 A000231 DEN NORSKE BANK ASA
015 B000231 S
015 C010231 OSLO
015 D010231 NORWAY
015 D020231 0107
015 E040231 X
015 A000232 MEES PIERSON
015 B000232 S
015 C010232 AMSTERDAM
015 D010232 NETHERLANDS
015 D020232 1012 KK
015 E040232 X
015 A000233 ANZ BANKING GROUP LIMITED
015 B000233 S
015 C010233 WELLINGTON
015 D010233 NEW ZEALAND
015 E040233 X
015 A000234 STANDARD CHARTERED BANK
015 B000234 S
015 C010234 KARACHI
PAGE
PAGE 21
015 D010234 PAKISTAN
015 D020234 74000
015 E040234 X
015 A000235 CITIBANK N.A.
015 B000235 S
015 C010235 LIMA
015 D010235 PERU
015 D020235 27
015 E040235 X
015 A000236 HONG KONG AND SHANGHAI BANKING CORP
015 B000236 S
015 C010236 PASIG CITY
015 D010236 PHILIPPINES
015 E040236 X
015 A000237 BANCO COMERCIAL PORTUGUES
015 B000237 S
015 C010237 LISBOA
015 D010237 PORTUGAL
015 D020237 1100
015 E040237 X
015 A000238 THE BRITISH BANK OF THE MIDDLE EAST
015 B000238 S
015 C010238 MUSCAT
015 D010238 OMAN
015 D020238 112
015 E040238 X
015 A000239 UNITED OVERSEAS BANK
015 B000239 S
015 C010239 SINGAPORE
015 D010239 SINGAPORE
015 D020239 048624
015 E040239 X
015 A000240 STANDARD BANK OF SOUTH AFRICA
015 B000240 S
015 C010240 JOHANNESBURG
015 D010240 SOUTH AFRICA
015 D020240 2001
015 E040240 X
015 A000241 STANDARD CHARTERED BANK
015 B000241 S
015 C010241 SEOUL
015 D010241 SOUTH KOREA
015 E040241 X
015 A000242 BANCO BILBAO VIZCAYA
015 B000242 S
015 C010242 MADRID
015 D010242 SPAIN
015 D020242 28046
015 E040242 X
015 A000243 STANBIC BANK SWAZILAND LTD
015 B000243 S
PAGE
PAGE 22
015 C010243 MBABANE
015 D010243 SWAZILAND
015 E040243 X
015 A000244 SKANDINAVISKA ENSKILDA BANKEN
015 B000244 S
015 C010244 STOCKHOLM
015 D010244 SWEDEN
015 D020244 10640
015 E040244 X
015 A000245 UNION BANK OF SWITZERLAND
015 B000245 S
015 C010245 ZURICH
015 D010245 SWITZERLAND
015 E040245 X
015 A000246 STANDARD CHARTERED BANK
015 B000246 S
015 C010246 BANGKOK
015 D010246 THAILAND
015 D020246 10400
015 E040246 X
015 A000247 OTTOMAN BANK
015 B000247 S
015 C010247 ISTANBUL
015 D010247 TURKEY
015 D020247 80000
015 E040247 X
015 A000248 THE BANK OF NEW YORK
015 B000248 S
015 C010248 LONDON
015 D010248 UNITED KINGDOM
015 D020248 EC4M 6YE
015 E040248 X
015 A000249 THE BANK OF NEW YORK
015 B000249 C
015 C010249 NEW YORK
015 C020249 NY
015 C030249 10286
015 E010249 X
015 A000250 BANKBOSTON, N.A.
015 B000250 S
015 C010250 MONTEVIDEO
015 D010250 URUGUAY
015 E040250 X
015 A000251 STANBIC BANK ZAMBIA LTD
015 B000251 S
015 C010251 LUSAKA
015 D010251 ZAMBIA
015 E040251 X
015 A000252 STANBIC BANK ZIMBABWE LTD
015 B000252 S
015 C010252 HARARE
PAGE
PAGE 23
015 D010252 ZIMBABWE
015 E040252 X
015 A000253 CITIBANK BUDAPES
015 B000253 S
015 C010253 BUDAPEST
015 D010253 HUNGARY
015 D020253 H-1051
015 E040253 X
015 A000254 THE FIRST NATIONAL BANK OF CHICAGO
015 B000254 S
015 C010254 LONDON
015 D010254 UNITED KINGDOM
015 D020254 NW1 3FN
015 E040254 X
015 A000255 CEDEL BANK
015 B000255 S
015 C010255 LUXEMBOURG
015 D010255 LUXEMBOURG
015 D020255 L-1331
015 E040255 X
015 A000256 EUROCLEAR
015 B000256 S
015 C010256 BRUSSELS
015 D010256 BELGIUM
015 D020256 B-1210
015 E040256 X
024 000200 Y
025 A000201 MORGAN STANLEY & CO. INC.
025 B000201 13-2655998
025 C000201 E
025 D000201 59029
025 A000201 BANKERS TRUST CORP
025 B000201 13-3311934
025 C000201 E
025 D000201 8389
PAGE
PAGE 24
028 A010200 70650
028 A020200 98874
028 A030200 0
028 A040200 189347
028 B010200 51796
028 B020200 0
028 B030200 0
028 B040200 254340
028 C010200 55565
028 C020200 0
028 C030200 0
028 C040200 206926
028 D010200 53523
028 D020200 0
028 D030200 0
028 D040200 197023
028 E010200 61234
028 E020200 0
028 E030200 0
028 E040200 199971
028 F010200 83630
028 F020200 381266
028 F030200 0
028 F040200 367041
028 G010200 376398
028 G020200 480140
028 G030200 0
028 G040200 1414648
028 H000200 60431
029 000200 Y
030 A000200 7449
030 B000200 5.75
030 C000200 0.00
031 A000200 142
031 B000200 0
032 000200 7307
033 000200 0
034 000200 Y
035 000200 279
036 A000200 Y
PAGE
PAGE 25
036 B000200 0
037 000200 N
038 000200 0
039 000200 N
040 000200 Y
041 000200 Y
042 A000200 0
042 B000200 0
042 C000200 0
042 D000200 0
042 E000200 0
042 F000200 0
042 G000200 0
042 H000200 100
043 000200 5210
044 000200 553
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.600
048 A010200 0
048 A020200 0.000
048 B010200 0
048 B020200 0.000
048 C010200 0
048 C020200 0.000
048 D010200 0
048 D020200 0.000
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 0
048 K020200 0.000
055 A000200 N
055 B000200 N
056 000200 Y
057 000200 N
058 A000200 N
059 000200 Y
060 A000200 Y
060 B000200 Y
061 000200 1000
PAGE
PAGE 26
066 A000200 Y
066 B000200 N
066 C000200 N
066 D000200 N
066 E000200 Y
066 F000200 N
066 G000200 N
067 000200 N
068 A000200 N
068 B000200 N
069 000200 N
070 A010200 Y
070 A020200 Y
070 B010200 Y
070 B020200 Y
070 C010200 Y
070 C020200 Y
070 D010200 Y
070 D020200 N
070 E010200 Y
070 E020200 N
070 F010200 Y
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 Y
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 Y
070 K010200 Y
070 K020200 Y
070 L010200 Y
070 L020200 Y
070 M010200 Y
070 M020200 Y
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 Y
070 P020200 N
070 Q010200 Y
070 Q020200 N
070 R010200 Y
070 R020200 Y
071 A000200 3308984
071 B000200 3471704
071 C000200 4950410
071 D000200 67
PAGE
PAGE 27
072 A000200 12
072 B000200 66746
072 C000200 95702
072 D000200 0
072 E000200 0
072 F000200 34762
072 G000200 4477
072 H000200 0
072 I000200 4778
072 J000200 490
072 K000200 0
072 L000200 341
072 M000200 155
072 N000200 448
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 38
072 S000200 208
072 T000200 5210
072 U000200 0
072 V000200 0
072 W000200 123
072 X000200 51030
072 Y000200 1841
072 Z000200 113259
072AA000200 867902
072BB000200 427181
072CC010200 0
072CC020200 569601
072DD010200 104419
072DD020200 17792
072EE000200 379377
073 A010200 0.0000
073 A020200 0.0000
073 B000200 1.3300
073 C000200 0.0000
074 A000200 59049
074 B000200 1800
074 C000200 379295
074 D000200 189307
074 E000200 62429
074 F000200 4153530
074 G000200 0
074 H000200 0
074 I000200 2073
074 J000200 70982
074 K000200 325
074 L000200 17746
074 M000200 192594
074 N000200 5129130
PAGE
PAGE 28
074 O000200 43943
074 P000200 4330
074 Q000200 0
074 R010200 0
074 R020200 195841
074 R030200 9
074 R040200 49736
074 S000200 0
074 T000200 4835271
074 U010200 239532
074 U020200 54447
074 V010200 0.00
074 V020200 0.00
074 W000200 0.0000
074 X000200 270890
074 Y000200 345325
075 A000200 0
075 B000200 5791012
076 000200 0.00
015 A000301 BANKBOSTON, N.A.
015 B000301 S
015 C010301 BUENOS AIRES
015 D010301 ARGENTINA
015 D020301 1005
015 E040301 X
015 A000302 NATIONAL AUSTRALIA BANK
015 B000302 S
015 C010302 MELBOURNE
015 D010302 AUSTRALIA
015 D020302 3000
015 E040302 X
015 A000303 CREDITANSTALT BANKVERIEN AG
015 B000303 S
015 C010303 VIENNA
015 D010303 AUSTRIA
015 D020303 1090
015 E040303 X
015 A000304 BANQUE BRUXELLES LAMBERT
015 B000304 S
015 C010304 BRUSSELS
015 D010304 BELGIUM
015 D020304 1040
015 E040304 X
015 A000305 THE BANK OF BERMUDA
015 B000305 S
015 C010305 HAMILTON
015 D010305 BERMUDA
015 E040305 X
015 A000306 STANBIC BANK BOTSWANA
015 B000306 S
015 C010306 GABORONE
PAGE
PAGE 29
015 D010306 BOTSWANA
015 D020306 00168
015 E040306 X
015 A000307 BANKBOSTON, N.A.
015 B000307 S
015 C010307 SAO PAULO
015 D010307 BRAZIL
015 D020307 01009-000
015 E040307 X
015 A000308 THE BRITISH BANK OF THE MIDDLE EAST-MANAMA
015 B000308 S
015 C010308 MANAMA
015 D010308 BAHRAIN
015 D020308 304
015 E040308 X
015 A000309 ROYAL BANK OF CANADA
015 B000309 S
015 C010309 TORONTO
015 D010309 CANADA
015 D020309 M5J 2J5
015 E040309 X
015 A000310 BANK OF CYPRUS
015 B000310 S
015 C010310 NICOSIA
015 D010310 CYPRUS
015 D020310 1160
015 E040310 X
015 A000311 DEN DANSKE BANK
015 B000311 S
015 C010311 COPENHAGEN
015 D010311 DENMARK
015 D020311 1092
015 E040311 X
015 A000312 MERITA BANK LTD
015 B000312 S
015 C010312 HELSINKI
015 D010312 FINLAND
015 D020312 00100
015 E040312 X
015 A000313 BANQUE PARIBAS
015 B000313 S
015 C010313 PARIS
015 D010313 FRANCE
015 D020313 75009
015 E040313 X
015 A000314 DRESDNER BANK
015 B000314 S
015 C010314 FRANKFURT
015 D010314 GERMANY
015 D020314 60301
015 E040314 X
PAGE
PAGE 30
015 A000315 MERCHANT BANK OF GHANA LTD
015 B000315 S
015 C010315 ACCRA
015 D010315 GHANA
015 E040315 X
015 A000316 NATIONAL BANK OF GREECE
015 B000316 S
015 C010316 ATHENS
015 D010316 GREECE
015 D020316 102 32
015 E040316 X
015 A000317 HONG KONG AND SHANGHAI BANKING CORP
015 B000317 S
015 C010317 HONG KONG
015 D010317 HONG KONG
015 E040317 X
015 A000318 HONG KONG AND SHANGHAI BANKING CORP
015 B000318 S
015 C010318 JAKARTA
015 D010318 INDONESIA
015 D020318 10023
015 E040318 X
015 A000319 ALLIED IRISH BANKS PLC
015 B000319 S
015 C010319 DUBLIN
015 D010319 IRELAND
015 D020319 1
015 E040319 X
015 A000320 BANCA COMMERCIALE ITALIANA
015 B000320 S
015 C010320 MILANO
015 D010320 ITALY
015 D020320 20121
015 E040320 X
015 A000321 SOCIETE GENERALE DE BANQUES EN COTE D'IVOIRE
015 B000321 S
015 C010321 ABIDJAN
015 D010321 IVORY COAST
015 D020321 10 BP 1355
015 E040321 X
015 A000322 BANK OF TOKYO-MITSUBISHI LIMITED
015 B000322 S
015 C010322 TOKYO
015 D010322 JAPAN
015 D020322 1
015 E040322 X
015 A000323 THE BRITISH BANK OF THE MIDDLE EAST
015 B000323 S
015 C010323 AMMAN
015 D010323 JORDAN
015 E040323 X
PAGE
PAGE 31
015 A000324 STANBIC BANK KENYA LTD
015 B000324 S
015 C010324 NAIROBI
015 D010324 KENYA
015 E040324 X
015 A000325 HONG KONG AND SHANGHAI BANKING CORP
015 B000325 S
015 C010325 PORT LOUIS
015 D010325 MAURITIUS
015 E040325 X
015 A000326 BANQUE INTERNATIONALE A LUXEMBOURG
015 B000326 S
015 C010326 LUXEMBOURG
015 D010326 LUXEMBOURG
015 D020326 2953
015 E040326 X
015 A000327 HONG KONG BANK MALAYSIA BERHAD
015 B000327 S
015 C010327 KUALA LUMPUR
015 D010327 MALAYSIA
015 D020327 50100
015 E040327 X
015 A000328 BANCO NACIONAL DE MEXICO
015 B000328 S
015 C010328 MEXICO, D.F.
015 D010328 MEXICO
015 D020328 01A10
015 E040328 X
015 A000329 BANQUE COMMERCIALE DU MAROC
015 B000329 S
015 C010329 CASABLANCA
015 D010329 MOROCCO
015 D020329 2000
015 E040329 X
015 A000330 STANBIC BANK OF NAMIBIA LTD
015 B000330 S
015 C010330 WINDHOEK
015 D010330 NAMIBIA
015 E040330 X
015 A000331 THE BRITISH BANK OF THE MIDDLE EAST
015 B000331 S
015 C010331 MUCAT
015 D010331 OMAN
015 D020331 112
015 E040331 X
015 A000332 MEES PIERSON
015 B000332 S
015 C010332 AMSTERDAM
015 D010332 NETHERLANDS
015 D020332 1012 KK
015 E040332 X
PAGE
PAGE 32
015 A000333 ANZ BANKING GROUP LIMITED
015 B000333 S
015 C010333 WELLINGTON
015 D010333 NEW ZEALAND
015 E040333 X
015 A000334 DEN NORSKE BANK
015 B000334 S
015 C010334 OSLO
015 D010334 NORWAY
015 D020334 0107
015 E040334 X
015 A000335 CITIBANK N.A.
015 B000335 S
015 C010335 LIMA
015 D010335 PERU
015 D020335 27
015 E040335 X
015 A000336 HONG KONG AND SHANGHAI BANKING CORP
015 B000336 S
015 C010336 PASIG CITY
015 D010336 PHILIPPINES
015 E040336 X
015 A000337 BANCO COMERCIAL PORTUGUES
015 B000337 S
015 C010337 LISBOA
015 D010337 PORTUGAL
015 D020337 1100
015 E040337 X
015 A000338 UNITED OVERSEAS BANK
015 B000338 S
015 C010338 SINGAPORE
015 D010338 SINGAPORE
015 D020338 048624
015 E040338 X
015 A000339 STANDARD BANK OF SOUTH AFRICA
015 B000339 S
015 C010339 JOHANNESBURG
015 D010339 SOUTH AFRICA
015 D020339 2001
015 E040339 X
015 A000340 STANDARD CHARTERED BANK
015 B000340 S
015 C010340 SEOUL
015 D010340 SOUTH KOREA
015 E040340 X
015 A000341 BANCO BILBAO VIZCAYA
015 B000341 S
015 C010341 MADRID
015 D010341 SPAIN
015 D020341 28046
015 E040341 X
PAGE
PAGE 33
015 A000342 STANBIC BANK SWAZILAND LTD
015 B000342 S
015 C010342 MBABANE
015 D010342 SWAZILAND
015 E040342 X
015 A000343 SKANDINAVISKA ENSKILDA BANKEN
015 B000343 S
015 C010343 STOCKHOLM
015 D010343 SWEDEN
015 D020343 10640
015 E040343 X
015 A000344 UNION BANK OF SWITZERLAND
015 B000344 S
015 C010344 ZURICH
015 D010344 SWITZERLAND
015 E040344 X
015 A000345 STANDARD CHARTERED BANK
015 B000345 S
015 C010345 BANGKOK
015 D010345 THAILAND
015 D020345 10400
015 E040345 X
015 A000346 OTTOMAN BANK
015 B000346 S
015 C010346 ISTANBUL
015 D010346 TURKEY
015 D020346 80000
015 E040346 X
015 A000347 THE BANK OF NEW YORK
015 B000347 S
015 C010347 LONDON
015 D010347 UNITED KINGDOM
015 D020347 EC4M 6YE
015 E040347 X
015 A000348 THE BANK OF NEW YORK
015 B000348 C
015 C010348 NEW YORK
015 C020348 NY
015 C030348 10286
015 E010348 X
015 A000349 BANKBOSTON, N.A.
015 B000349 S
015 C010349 MONTEVIDEO
015 D010349 URUGUAY
015 E040349 X
015 A000350 STANBIC BANK ZAMBIA LTD
015 B000350 S
015 C010350 LUSAKA
015 D010350 ZAMBIA
015 E040350 X
015 A000351 STANBIC BANK OF ZIMBABWE LTD
PAGE
PAGE 34
015 B000351 S
015 C010351 HARARE
015 D010351 ZIMBABWE
015 E040351 X
015 A000352 CITIBANK BUDAPEST RT
015 B000352 S
015 C010352 BUDAPEST
015 D010352 HUNGARY
015 D020352 H-1051
015 E040352 X
015 A000353 STANDARD CHARTERED BANK
015 B000353 S
015 C010353 KARACHI
015 D010353 PAKISTAN
015 D020353 74000
015 E040353 X
015 A000354 THE FIRST BANK OF CHICAGO
015 B000354 S
015 C010354 LONDON
015 D010354 UNITED KINGDOM
015 D020354 NW1 3FN
015 E040354 X
015 A000355 CEDEL BANK
015 B000355 S
015 C010355 LUXEMBOURG
015 D010355 LUXEMBOURG
015 D020355 L-1331
015 E040355 X
015 A000356 EUROCLEAR
015 B000356 S
015 C010356 BRUSSELS
015 D010356 BELGUIM
015 D020356 B-1210
015 E040356 X
024 000300 Y
025 A000301 MORGAN STANLEY & CO. INC.
025 B000301 13-2655998
025 C000301 E
025 D000301 72228
025 A000302 BEAR STEARNS & CO. INC.
025 B000302 13-4946705
025 C000302 E
025 D000302 40604
PAGE
PAGE 35
028 A010300 95522
028 A020300 122275
028 A030300 0
028 A040300 175282
028 B010300 88440
028 B020300 59
028 B030300 0
028 B040300 321045
028 C010300 73143
028 C020300 4
028 C030300 0
028 C040300 298783
028 D010300 53522
028 D020300 0
028 D030300 0
028 D040300 287065
028 E010300 58881
028 E020300 0
028 E030300 0
028 E040300 227530
028 F010300 79699
028 F020300 380289
028 F030300 0
028 F040300 341985
028 G010300 449207
028 G020300 502627
028 G030300 0
028 G040300 1651690
028 H000300 94080
029 000300 Y
030 A000300 8407
030 B000300 5.75
030 C000300 0.00
031 A000300 422
031 B000300 0
032 000300 7986
033 000300 0
034 000300 Y
035 000300 392
036 A000300 Y
036 B000300 0
037 000300 N
038 000300 0
039 000300 N
040 000300 Y
041 000300 Y
042 A000300 0
PAGE
PAGE 36
042 B000300 0
042 C000300 0
042 D000300 0
042 E000300 0
042 F000300 0
042 G000300 0
042 H000300 100
043 000300 8106
044 000300 796
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.600
048 A010300 0
048 A020300 0.000
048 B010300 0
048 B020300 0.000
048 C010300 0
048 C020300 0.000
048 D010300 0
048 D020300 0.000
048 E010300 0
048 E020300 0.000
048 F010300 0
048 F020300 0.000
048 G010300 0
048 G020300 0.000
048 H010300 0
048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 0
048 K020300 0.000
055 A000300 N
055 B000300 N
056 000300 Y
057 000300 N
058 A000300 N
059 000300 Y
060 A000300 Y
060 B000300 Y
061 000300 1000
066 A000300 Y
066 B000300 N
066 C000300 N
066 D000300 N
066 E000300 Y
066 F000300 N
066 G000300 N
PAGE
PAGE 37
067 000300 N
068 A000300 N
068 B000300 N
069 000300 N
070 A010300 Y
070 A020300 Y
070 B010300 Y
070 B020300 Y
070 C010300 Y
070 C020300 N
070 D010300 Y
070 D020300 N
070 E010300 Y
070 E020300 N
070 F010300 Y
070 F020300 N
070 G010300 Y
070 G020300 N
070 H010300 Y
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 Y
070 K010300 Y
070 K020300 Y
070 L010300 Y
070 L020300 Y
070 M010300 Y
070 M020300 Y
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 Y
070 P020300 N
070 Q010300 Y
070 Q020300 N
070 R010300 Y
070 R020300 Y
071 A000300 3642903
071 B000300 4177014
071 C000300 5581145
071 D000300 65
072 A000300 12
072 B000300 71471
072 C000300 128502
072 D000300 0
072 E000300 0
072 F000300 39590
072 G000300 5096
PAGE
PAGE 38
072 H000300 0
072 I000300 4949
072 J000300 721
072 K000300 0
072 L000300 186
072 M000300 179
072 N000300 745
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 43
072 S000300 364
072 T000300 8106
072 U000300 0
072 V000300 0
072 W000300 168
072 X000300 60147
072 Y000300 1940
072 Z000300 141766
072AA000300 1021529
072BB000300 630464
072CC010300 0
072CC020300 427972
072DD010300 137278
072DD020300 38530
072EE000300 358946
073 A010300 0.0000
073 A020300 0.0000
073 B000300 0.8700
073 C000300 0.0000
074 A000300 75592
074 B000300 0
074 C000300 521937
074 D000300 216365
074 E000300 42931
074 F000300 4621329
074 G000300 0
074 H000300 0
074 I000300 518
074 J000300 82087
074 K000300 434
074 L000300 23550
074 M000300 170010
074 N000300 5754753
074 O000300 38474
074 P000300 5306
074 Q000300 0
074 R010300 0
074 R020300 181183
074 R030300 11
074 R040300 51414
PAGE
PAGE 39
074 S000300 0
074 T000300 5478365
074 U010300 307102
074 U020300 110729
074 V010300 0.00
074 V020300 0.00
074 W000300 0.0000
074 X000300 261180
074 Y000300 321684
075 A000300 0
075 B000300 6594953
076 000300 0.00
015 A000401 BANKBOSTON, N.A.
015 B000401 S
015 C010401 BUENOS AIRES
015 D010401 ARGENTINA
015 D020401 1005
015 E040401 X
015 A000402 NATIONAL AUSTRALIA BANK
015 B000402 S
015 C010402 MELBOURNE
015 D010402 AUSTRALIA
015 D020402 3000
015 E040402 X
015 A000403 CREDITANSTALT BANKVERIEN AG
015 B000403 S
015 C010403 VIENNA
015 D010403 AUSTRIA
015 D020403 1090
015 E040403 X
015 A000404 BANQUE BRUXELLES LAMBERT
015 B000404 S
015 C010404 BRUSSELS
015 D010404 BELGIUM
015 D020404 1040
015 E040404 X
015 A000405 THE BANK OF BERMUDA
015 B000405 S
015 C010405 HAMILTON
015 D010405 BERMUDA
015 E040405 X
015 A000406 STANBIC BANK OF BOTSWANA
015 B000406 S
015 C010406 GABORONE
015 D010406 BOTSWANA
015 D020406 00168
015 E040406 X
015 A000407 BANKBOSTON, N.A.
015 B000407 S
015 C010407 SAO PAULO
015 D010407 BRAZIL
PAGE
PAGE 40
015 D020407 01009-000
015 E040407 X
015 A000408 THE BRITISH BANK OF THE MIDDLE EAST
015 B000408 S
015 C010408 MANAMA
015 D010408 BAHRAIN
015 D020408 304
015 E040408 X
015 A000409 ROYAL BANK OF CANADA
015 B000409 S
015 C010409 TORONTO
015 D010409 CANADA
015 D020409 M5J 2J5
015 E040409 X
015 A000410 BANK OF CYPRUS
015 B000410 S
015 C010410 NICOSIA
015 D010410 CYPRUS
015 D020410 1160
015 E040410 X
015 A000411 DEN DANSKE BANK
015 B000411 S
015 C010411 COPENHAGEN
015 D010411 DENMARK
015 D020411 1092
015 E040411 X
015 A000412 MERITA BANK LTD
015 B000412 S
015 C010412 HELSINKI
015 D010412 FINLAND
015 D020412 00100
015 E040412 X
015 A000413 BANQUE PARIBUS
015 B000413 S
015 C010413 PARIS
015 D010413 FRANCE
015 D020413 75009
015 E040413 X
015 A000414 DRESDNER BANK
015 B000414 S
015 C010414 FRANKFURT
015 D010414 GERMANY
015 D020414 60301
015 E040414 X
015 A000415 MERCHANT BANK OF GHANA LTD
015 B000415 S
015 C010415 ACCRA
015 D010415 GHANA
015 E040415 X
015 A000416 NATIONAL BANK OF GREECE
015 B000416 S
PAGE
PAGE 41
015 C010416 ATHENS
015 D010416 GREECE
015 D020416 102 32
015 E040416 X
015 A000417 HONG KONG AND SHANGHAI BANKING CORP
015 B000417 S
015 C010417 HONG KONG
015 D010417 HONG KONG
015 E040417 X
015 A000418 HONG KONG AND SHANGHAI BANKING CORP
015 B000418 S
015 C010418 JAKARTA
015 D010418 INDONESIA
015 D020418 10023
015 E040418 X
015 A000419 ALLIED IRISH BANKS PLC
015 B000419 S
015 C010419 DUBLIN
015 D010419 IRELAND
015 D020419 1
015 E040419 X
015 A000420 BANCA COMMERCIALE ITALIANA
015 B000420 S
015 C010420 MILANO
015 D010420 ITALY
015 D020420 20121
015 E040420 X
015 A000421 SOCIETE GENERALE DE BANQUES EN COTE D'IVOIRE
015 B000421 S
015 C010421 ABIDJAN
015 D010421 IVORY COAST
015 D020421 10 BP 1355
015 E040421 X
015 A000422 BANK OF TOKYO-MITSUBISHI LIMITED
015 B000422 S
015 C010422 TOKYO
015 D010422 JAPAN
015 D020422 1030021
015 E040422 X
015 A000423 THE BRITISH BANK OF THE MIDDLE EAST
015 B000423 S
015 C010423 AMMAN
015 D010423 JORDAN
015 E040423 X
015 A000424 STANBIC BANK OF KENYA
015 B000424 S
015 C010424 NAIROBI
015 D010424 KENYA
015 E040424 X
015 A000425 BANQUE INTERNATIONALE A LUXEMBOURG
015 B000425 S
PAGE
PAGE 42
015 C010425 LUXEMBOURG
015 D010425 LUXEMBOURG
015 D020425 2953
015 E040425 X
015 A000426 HONG KONG BANK MALAYSIA BERHAD
015 B000426 S
015 C010426 KUALA LUMPUR
015 D010426 MALAYSIA
015 D020426 50100
015 E040426 X
015 A000427 BANCO NACIONAL DE MEXICO
015 B000427 S
015 C010427 MEXICO, D.F.
015 D010427 MEXICO
015 D020427 01A10
015 E040427 X
015 A000428 BANQUE COMMERCIALE DU MAROC
015 B000428 S
015 C010428 CASABLANCA
015 D010428 MOROCCO
015 D020428 20000
015 E040428 X
015 A000429 STANBIC BANK NAMIBIA LTD
015 B000429 S
015 C010429 WINDHOEK
015 D010429 NAMIBIA
015 E040429 X
015 A000430 HONG KONG AND SHANGHAI BANKING
015 B000430 S
015 C010430 PORT LOUIS
015 D010430 MAURITIUS
015 E040430 X
015 A000431 MEES PIERSON
015 B000431 S
015 C010431 AMSTERDAM
015 D010431 NETHERLANDS
015 D020431 1012 KK
015 E040431 X
015 A000432 ANZ BANKING GROUP LIMITED
015 B000432 S
015 C010432 WELLINGTON
015 D010432 NEW ZEALAND
015 E040432 X
015 A000433 DEN NORSKE BANK
015 B000433 S
015 C010433 OSLO
015 D010433 NORWAY
015 D020433 N-0107
015 E040433 X
015 A000434 STANDARD CHARTERED BANK
015 B000434 S
PAGE
PAGE 43
015 C010434 KARACHI
015 D010434 PAKISTAN
015 D020434 74000
015 E040434 X
015 A000435 CITIBANK N.A.
015 B000435 S
015 C010435 LIMA
015 D010435 PERU
015 D020435 27
015 E040435 X
015 A000436 HONG KONG AND SHANGHAI BANKING CORP
015 B000436 S
015 C010436 PASIG CITY
015 D010436 PHILIPPINES
015 E040436 X
015 A000437 BANCO COMERCIAL PORTUGUES
015 B000437 S
015 C010437 LISBON
015 D010437 PORTUGAL
015 D020437 1100
015 E040437 X
015 A000438 THE BRITISH BANK OF THE MIDDLE EAST
015 B000438 S
015 C010438 MUSCAT
015 D010438 OMAN
015 D020438 112
015 E040438 X
015 A000439 UNITED OVERSEAS BANK
015 B000439 S
015 C010439 SINGAPORE
015 D010439 SINGAPORE
015 D020439 048624
015 E040439 X
015 A000440 STANDARD BANK OF SOUTH AFRICA
015 B000440 S
015 C010440 JOHANNESBURG
015 D010440 SOUTH AFRICA
015 D020440 2001
015 E040440 X
015 A000441 STANDARD CHARTERED BANK
015 B000441 S
015 C010441 SEOUL
015 D010441 SOUTH KOREA
015 E040441 X
015 A000442 BANCO BILBAO VIZCAYA
015 B000442 S
015 C010442 MADRID
015 D010442 SPAIN
015 D020442 28046
015 E040442 X
015 A000443 STANBIC BANK SWAZILAND
PAGE
PAGE 44
015 B000443 S
015 C010443 MBABANE
015 D010443 SWAZILAND
015 E040443 X
015 A000444 SKANDINAVISKA ENSKILDA BANKEN
015 B000444 S
015 C010444 STOCKHOLM
015 D010444 SWEDEN
015 D020444 10640
015 E040444 X
015 A000445 UNION BANK OF SWITZERLAND
015 B000445 S
015 C010445 ZURICH
015 D010445 SWITZERLAND
015 E040445 X
015 A000446 STANDARD CHARTERED BANK
015 B000446 S
015 C010446 BANGKOK
015 D010446 THAILAND
015 D020446 10400
015 E040446 X
015 A000447 OTTOMAN BANK
015 B000447 S
015 C010447 ISTANBUL
015 D010447 TURKEY
015 D020447 80000
015 E040447 X
015 A000448 BANK OF NEW YORK
015 B000448 S
015 C010448 LONDON
015 D010448 UNITED KINGDOM
015 D020448 EC4M 6YE
015 E040448 X
015 A000449 BANK OF NEW YORK
015 B000449 C
015 C010449 NEW YORK
015 C020449 NY
015 C030449 10286
015 E010449 X
015 A000450 BANKBOSTON, N.A.
015 B000450 S
015 C010450 MONTEVIDEO
015 D010450 URUGUAY
015 E040450 X
015 A000451 STANBIC BANK ZAMBIA LTD
015 B000451 S
015 C010451 LUSAKA
015 D010451 ZAMBIA
015 E040451 X
015 A000452 STANBIC BANK ZIMBABWE LTD
015 B000452 S
PAGE
PAGE 45
015 C010452 HARARE
015 D010452 ZIMBABWE
015 E040452 X
015 A000453 THE FIRST NATIONAL BANK OF CHICAGO
015 B000453 S
015 C010453 LONDON
015 D010453 UNITED KINGDOM
015 D020453 NWI 3FN
015 E040453 X
015 A000454 CEDEL BANK
015 B000454 S
015 C010454 LUXEMBOURG
015 D010454 LUXEMBOURG
015 D020454 L-1331
015 E040454 X
015 A000455 EUROCLEAR
015 B000455 S
015 C010455 BRUSSELS
015 D010455 BELGIUM
015 D020455 B-1210
015 E040455 X
015 A000456 CITIBANK BUDAPEST RT
015 B000456 S
015 C010456 BUDAPEST
015 D010456 HUNGARY
015 D020456 H-1051
015 E040456 X
024 000400 Y
025 A000401 MORGAN STANLEY & CO. INC.
025 B000401 13-2655998
025 C000401 E
025 D000401 22330
025 A000402 BEAR STEARNS CO. INC.
025 B000402 13-3299429
025 C000402 E
025 D000402 13152
025 A000402 BANKERS TRUST CORP
025 B000402 13-3311934
025 C000402 E
025 D000402 6912
PAGE
PAGE 46
028 A010400 155136
028 A020400 132284
028 A030400 0
028 A040400 156741
028 B010400 112751
028 B020400 0
028 B030400 0
028 B040400 365210
028 C010400 84130
028 C020400 0
028 C030400 0
028 C040400 312076
028 D010400 72149
028 D020400 0
028 D030400 0
028 D040400 289940
028 E010400 71621
028 E020400 0
028 E030400 0
028 E040400 263069
028 F010400 84081
028 F020400 160342
028 F030400 0
028 F040400 385149
028 G010400 579868
028 G020400 292626
028 G030400 0
028 G040400 1772185
028 H000400 135113
029 000400 Y
030 A000400 11940
030 B000400 5.75
030 C000400 0.00
031 A000400 673
031 B000400 0
032 000400 11267
PAGE
PAGE 47
033 000400 0
034 000400 Y
035 000400 486
036 A000400 Y
036 B000400 0
037 000400 N
038 000400 0
039 000400 N
040 000400 Y
041 000400 Y
042 A000400 0
042 B000400 0
042 C000400 0
042 D000400 0
042 E000400 0
042 F000400 0
042 G000400 0
042 H000400 100
043 000400 8751
044 000400 921
045 000400 Y
046 000400 N
047 000400 Y
048 000400 0.800
048 A010400 0
048 A020400 0.000
048 B010400 0
048 B020400 0.000
048 C010400 0
048 C020400 0.000
048 D010400 0
048 D020400 0.000
048 E010400 0
048 E020400 0.000
048 F010400 0
048 F020400 0.000
048 G010400 0
048 G020400 0.000
048 H010400 0
048 H020400 0.000
048 I010400 0
048 I020400 0.000
048 J010400 0
048 J020400 0.000
048 K010400 0
048 K020400 0.000
055 A000400 N
055 B000400 N
056 000400 Y
057 000400 N
058 A000400 N
PAGE
PAGE 48
059 000400 Y
060 A000400 Y
060 B000400 Y
061 000400 1000
066 A000400 Y
066 B000400 N
066 C000400 N
066 D000400 Y
066 E000400 N
066 F000400 N
066 G000400 N
067 000400 N
068 A000400 N
068 B000400 Y
069 000400 N
070 A010400 Y
070 A020400 Y
070 B010400 Y
070 B020400 Y
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 Y
070 L010400 Y
070 L020400 Y
070 M010400 Y
070 M020400 Y
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 Y
070 P020400 N
070 Q010400 Y
070 Q020400 N
070 R010400 Y
070 R020400 Y
PAGE
PAGE 49
071 A000400 3658049
071 B000400 4102295
071 C000400 4377312
071 D000400 84
072 A000400 12
072 B000400 51196
072 C000400 92844
072 D000400 0
072 E000400 0
072 F000400 41020
072 G000400 3964
072 H000400 0
072 I000400 5093
072 J000400 867
072 K000400 0
072 L000400 369
072 M000400 142
072 N000400 598
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 37
072 S000400 303
072 T000400 8751
072 U000400 0
072 V000400 0
072 W000400 201
072 X000400 61345
072 Y000400 1283
072 Z000400 83978
072AA000400 813342
072BB000400 648637
072CC010400 0
072CC020400 434011
072DD010400 74720
072DD020400 30236
072EE000400 205212
073 A010400 0.0000
073 A020400 0.0000
073 B000400 0.8100
073 C000400 0.0000
074 A000400 142274
074 B000400 15500
074 C000400 232915
074 D000400 167559
074 E000400 31548
074 F000400 3415273
074 G000400 0
074 H000400 0
074 I000400 2631
074 J000400 79348
PAGE
PAGE 50
074 K000400 323
074 L000400 17432
074 M000400 96673
074 N000400 4201476
074 O000400 17201
074 P000400 5060
074 Q000400 0
074 R010400 0
074 R020400 169347
074 R030400 9
074 R040400 72106
074 S000400 0
074 T000400 3937753
074 U010400 145619
074 U020400 82882
074 V010400 0.00
074 V020400 0.00
074 W000400 0.0000
074 X000400 305621
074 Y000400 232423
075 A000400 0
075 B000400 5124602
076 000400 0.00
015 A000501 BANKBOSTON, N.A.
015 B000501 S
015 C010501 BUENOS AIRES
015 D010501 ARGENTINA
015 D020501 1005
015 E040501 X
015 A000502 NATIONAL AUSTRALIA BANK
015 B000502 S
015 C010502 MELBOURNE
015 D010502 AUSTRALIA
015 D020502 3000
015 E040502 X
015 A000503 CREDITANSTALT BANKVEREIN AG
015 B000503 S
015 C010503 VIENNA
015 D010503 AUSTRIA
015 D020503 1090
015 E040503 X
015 A000504 BANQUE BRUXELLES LAMBERT
015 B000504 S
015 C010504 BRUSSELS
015 D010504 BELGIUM
015 D020504 1040
015 E040504 X
015 A000505 THE BANK OF BERMUDA
015 B000505 S
015 C010505 HAMILTON
015 D010505 BERMUDA
PAGE
PAGE 51
015 E040505 X
015 A000506 STANBIC BANK OF BOTSWANA
015 B000506 S
015 C010506 GABORONE
015 D010506 BOTSWANA
015 D020506 00168
015 E040506 X
015 A000507 BANKBOSTON, N.A.
015 B000507 S
015 C010507 SAO PAULO
015 D010507 BRAZIL
015 D020507 01009-000
015 E040507 X
015 A000508 THE BRITISH BANK OF THE MIDDLE EAST
015 B000508 S
015 C010508 MANAMA
015 D010508 BAHRAIN
015 D020508 304
015 E040508 X
015 A000509 ROYAL BANK OF CANADA
015 B000509 S
015 C010509 TORONTO
015 D010509 CANADA
015 D020509 M5J 2J5
015 E040509 X
015 A000510 BANK OF CYPRUS
015 B000510 S
015 C010510 NICOSIA
015 D010510 CYPRUS
015 D020510 1160
015 E040510 X
015 A000511 DEN DANSKE BANK
015 B000511 S
015 C010511 COPENHAGEN
015 D010511 DENMARK
015 D020511 1092
015 E040511 X
015 A000512 MERITA BANK LTD
015 B000512 S
015 C010512 HELSINKI
015 D010512 FINLAND
015 D020512 00100
015 E040512 X
015 A000513 BANQUE PARIBAS
015 B000513 S
015 C010513 PARIS
015 D010513 FRANCE
015 D020513 75009
015 E040513 X
015 A000514 DRESDNER BANK
015 B000514 S
PAGE
PAGE 52
015 C010514 FRANKFURT
015 D010514 GERMANY
015 D020514 60301
015 E040514 X
015 A000515 MERCHANT BANK OF GHANA LTD.
015 B000515 S
015 C010515 ACCRA
015 D010515 GHANA
015 E040515 X
015 A000516 NATIONAL BANK OF GREECE
015 B000516 S
015 C010516 ATHENS
015 D010516 GREECE
015 D020516 102 32
015 E040516 X
015 A000517 HONG KONG AND SHANGHAI BANKING CORP.
015 B000517 S
015 C010517 HONG KONG
015 D010517 HONG KONG
015 E040517 X
015 A000518 HONG KONG AND SHANGHAI BANKING CORP
015 B000518 S
015 C010518 JAKARTA
015 D010518 INDONESIA
015 D020518 10023
015 E040518 X
015 A000519 ALLIED IRISH BANKS PLC
015 B000519 S
015 C010519 DUBLIN
015 D010519 IRELAND
015 D020519 1
015 E040519 X
015 A000520 BANCA COMMERCIALE ITALIANA
015 B000520 S
015 C010520 MILANO
015 D010520 ITALY
015 D020520 20121
015 E040520 X
015 A000521 SOCIETE GENERALE DE BANQUES EN COTE D'IVOIRE
015 B000521 S
015 C010521 ABIDJAN
015 D010521 IVORY COAST
015 D020521 10 BP 1355
015 E040521 X
015 A000522 BANK OF TOKYO-MITSUBISHI LIMITED
015 B000522 S
015 C010522 TOKYO
015 D010522 JAPAN
015 D020522 1030021
015 E040522 X
015 A000523 THE BRITISH BANK OF THE MIDDLE EAST
PAGE
PAGE 53
015 B000523 S
015 C010523 AMMAN
015 D010523 JORDAN
015 E040523 X
015 A000524 STANBIC BANK OF KENYA LTD
015 B000524 S
015 C010524 NAIROBI
015 D010524 KENYA
015 E040524 X
015 A000525 BANQUE INTERNATIONALE A LUXEMBOURG
015 B000525 S
015 C010525 LUXEMBOURG
015 D010525 LUXEMBOURG
015 D020525 2953
015 E040525 X
015 A000526 HONG KONG BANK MALAYSIA BERHAD
015 B000526 S
015 C010526 KUALA LUMPUR
015 D010526 MALAYSIA
015 D020526 50100
015 E040526 X
015 A000527 BANCO NACIONAL DE MEXICO
015 B000527 S
015 C010527 MEXICO, D.F.
015 D010527 MEXICO
015 D020527 01A10
015 E040527 X
015 A000528 BANQUE COMMERCIALE DU MAROC
015 B000528 S
015 C010528 CASABLANCA
015 D010528 MOROCCO
015 D020528 20000
015 E040528 X
015 A000529 STANBIC BANK NAMIBIA LTD
015 B000529 S
015 C010529 WINDHOEK
015 D010529 NAMIBIA
015 E040529 X
015 A000530 HONG KONG AND SHANGHAI BANKING CORP
015 B000530 S
015 C010530 PORT LOUIS
015 D010530 MAURITIUS
015 E040530 X
015 A000531 DEN NORSKE BANK ASA
015 B000531 S
015 C010531 OSLO
015 D010531 NORWAY
015 D020531 N-0107
015 E040531 X
015 A000532 MEES PIERSON
015 B000532 S
PAGE
PAGE 54
015 C010532 AMSTERDAM
015 D010532 NETHERLANDS
015 D020532 1012 KK
015 E040532 X
015 A000533 ANZ BANKING GROUP LIMITED
015 B000533 S
015 C010533 WELLINGTON
015 D010533 NEW ZEALAND
015 E040533 X
015 A000534 STANDARD CHARTERED BANK
015 B000534 S
015 C010534 KARACHI
015 D010534 PAKISTAN
015 D020534 74000
015 E040534 X
015 A000535 CITIBANK N.A.
015 B000535 S
015 C010535 LIMA
015 D010535 PERU
015 D020535 27
015 E040535 X
015 A000536 HONG KONG AND SHANGHAI BANKING CORP.
015 B000536 S
015 C010536 PASIG CITY
015 D010536 PHILIPPINES
015 E040536 X
015 A000537 BANCO COMERCIAL PORTUGUES
015 B000537 S
015 C010537 LISBON
015 D010537 PORTUGAL
015 D020537 1100
015 E040537 X
015 A000538 THE BRITISH BANK OF THE MIDDLE EAST
015 B000538 S
015 C010538 MUSCAT
015 D010538 OMAN
015 D020538 112
015 E040538 X
015 A000539 UNITED OVERSEAS BANK
015 B000539 S
015 C010539 SINGAPORE
015 D010539 SINGAPORE
015 D020539 048624
015 E040539 X
015 A000540 STANDARD BANK OF SOUTH AFRICA
015 B000540 S
015 C010540 JOHANNESBURG
015 D010540 SOUTH AFRICA
015 D020540 2001
015 E040540 X
015 A000541 STANDARD CHARTERED BANK
PAGE
PAGE 55
015 B000541 S
015 C010541 SEOUL
015 D010541 SOUTH KOREA
015 E040541 X
015 A000542 BANCO BILBAO VIZCAYA
015 B000542 S
015 C010542 MADRID
015 D010542 SPAIN
015 D020542 28046
015 E040542 X
015 A000543 STANBIC BANK SWAZILAND LTD
015 B000543 S
015 C010543 MBABANE
015 D010543 SWAZILAND
015 E040543 X
015 A000544 SKANDINAVISKA ENSKILDA BANKEN
015 B000544 S
015 C010544 STOCKHOLM
015 D010544 SWEDEN
015 D020544 10640
015 E040544 X
015 A000545 UNION BANK OF SWITZERLAND
015 B000545 S
015 C010545 ZURICH
015 D010545 SWITZERLAND
015 E040545 X
015 A000546 STANDARD CHARTERED BANK
015 B000546 S
015 C010546 BANGKOK
015 D010546 THAILAND
015 D020546 10400
015 E040546 X
015 A000547 OTTOMAN BANK
015 B000547 S
015 C010547 ISTANBUL
015 D010547 TURKEY
015 D020547 80000
015 E040547 X
015 A000548 THE BANK OF NEW YORK
015 B000548 S
015 C010548 LONDON
015 D010548 UNITED KINGDOM
015 D020548 EC4M 6YE
015 E040548 X
015 A000549 BANKBOSTON, N.A.
015 B000549 S
015 C010549 MONTEVIDEO
015 D010549 URUGUAY
015 E040549 X
015 A000550 THE BANK OF NEW YORK
015 B000550 C
PAGE
PAGE 56
015 C010550 NEW YORK
015 C020550 NY
015 C030550 10286
015 E010550 X
015 A000551 STANBIC BANK ZAMBIA LTD
015 B000551 S
015 C010551 LUSAKA
015 D010551 ZAMBIA
015 E040551 X
015 A000552 STANBIC BANK ZIMBABWE LTD
015 B000552 S
015 C010552 HARARE
015 D010552 ZIMBABWE
015 E040552 X
015 A000553 THE FIRST NATIONAL BANK OF CHICAGO
015 B000553 S
015 C010553 LONDON
015 D010553 UNITED KINGDOM
015 D020553 NW1 3FN
015 E040553 X
015 A000554 CEDEL BANK
015 B000554 S
015 C010554 LUXEMBOURG
015 D010554 LUXEMBOURG
015 D020554 L-1331
015 E040554 X
015 A000555 EUROCLEAR
015 B000555 S
015 C010555 BRUSSELS
015 D010555 BELGIUM
015 D020555 B-1210
015 E040555 X
015 A000556 CITIBANK BUDAPEST RT
015 B000556 S
015 C010556 BUDAPEST
015 D010556 HUNGARY
015 D020556 H-1051
015 E040556 X
024 000500 N
028 A010500 128098
028 A020500 23141
028 A030500 0
028 A040500 92866
028 B010500 63816
028 B020500 0
028 B030500 0
028 B040500 110745
028 C010500 48252
028 C020500 0
028 C030500 0
028 C040500 97557
PAGE
PAGE 57
028 D010500 44250
028 D020500 0
028 D030500 0
028 D040500 70874
028 E010500 53766
028 E020500 0
028 E030500 0
028 E040500 57157
028 F010500 49327
028 F020500 12769
028 F030500 0
028 F040500 99157
028 G010500 387509
028 G020500 35910
028 G030500 0
028 G040500 528356
028 H000500 25487
029 000500 Y
030 A000500 2730
030 B000500 5.75
030 C000500 0.00
031 A000500 81
031 B000500 0
032 000500 2649
033 000500 0
034 000500 Y
035 000500 92
036 A000500 Y
036 B000500 0
037 000500 N
038 000500 0
039 000500 N
040 000500 Y
041 000500 Y
042 A000500 0
042 B000500 0
042 C000500 0
042 D000500 0
042 E000500 0
042 F000500 0
042 G000500 0
042 H000500 100
043 000500 1458
044 000500 116
045 000500 Y
046 000500 N
047 000500 Y
048 000500 0.800
048 A010500 0
048 A020500 0.000
048 B010500 0
PAGE
PAGE 58
048 B020500 0.000
048 C010500 0
048 C020500 0.000
048 D010500 0
048 D020500 0.000
048 E010500 0
048 E020500 0.000
048 F010500 0
048 F020500 0.000
048 G010500 0
048 G020500 0.000
048 H010500 0
048 H020500 0.000
048 I010500 0
048 I020500 0.000
048 J010500 0
048 J020500 0.000
048 K010500 0
048 K020500 0.000
055 A000500 N
055 B000500 N
056 000500 Y
057 000500 N
058 A000500 N
059 000500 Y
060 A000500 Y
060 B000500 Y
061 000500 1000
066 A000500 Y
066 B000500 N
066 C000500 Y
066 D000500 N
066 E000500 N
066 F000500 N
066 G000500 N
067 000500 N
068 A000500 N
068 B000500 Y
069 000500 N
070 A010500 Y
070 A020500 Y
070 B010500 Y
070 B020500 N
070 C010500 Y
070 C020500 N
070 D010500 Y
070 D020500 N
070 E010500 Y
070 E020500 N
070 F010500 Y
070 F020500 N
PAGE
PAGE 59
070 G010500 Y
070 G020500 N
070 H010500 Y
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 Y
070 K010500 Y
070 K020500 Y
070 L010500 Y
070 L020500 Y
070 M010500 Y
070 M020500 Y
070 N010500 Y
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 Y
070 P020500 N
070 Q010500 Y
070 Q020500 N
070 R010500 Y
070 R020500 Y
071 A000500 806937
071 B000500 689003
071 C000500 705821
071 D000500 98
072 A000500 12
072 B000500 8279
072 C000500 17964
072 D000500 0
072 E000500 0
072 F000500 6843
072 G000500 662
072 H000500 0
072 I000500 876
072 J000500 288
072 K000500 0
072 L000500 43
072 M000500 23
072 N000500 189
072 O000500 0
072 P000500 0
072 Q000500 0
072 R000500 21
072 S000500 10
072 T000500 1458
072 U000500 0
072 V000500 0
072 W000500 1
PAGE
PAGE 60
072 X000500 10414
072 Y000500 0
072 Z000500 15829
072AA000500 132548
072BB000500 126265
072CC010500 0
072CC020500 21552
072DD010500 13602
072DD020500 5696
072EE000500 25195
073 A010500 0.0000
073 A020500 0.0000
073 B000500 0.3600
073 C000500 0.0000
074 A000500 26790
074 B000500 7000
074 C000500 74988
074 D000500 29296
074 E000500 0
074 F000500 650227
074 G000500 0
074 H000500 0
074 I000500 0
074 J000500 12390
074 K000500 0
074 L000500 4957
074 M000500 5808
074 N000500 811456
074 O000500 23401
074 P000500 914
074 Q000500 0
074 R010500 0
074 R020500 19634
074 R030500 0
074 R040500 16593
074 S000500 0
074 T000500 750914
074 U010500 38578
074 U020500 21423
074 V010500 0.00
074 V020500 0.00
074 W000500 0.0000
074 X000500 59637
074 Y000500 26056
075 A000500 0
075 B000500 855698
076 000500 0.00
015 A000601 BANK OF NEW YORK
015 B000601 C
015 C010601 NEW YORK
015 C020601 NY
PAGE
PAGE 61
015 C030601 10286
015 E010601 X
015 A000602 BANKBOSTON, N.A.
015 B000602 S
015 C010602 BUENOS AIRES
015 D010602 ARGENTINA
015 D020602 1005
015 E040602 X
015 A000603 NATIONAL AUSTRALIA BANK
015 B000603 S
015 C010603 MELBOURNE
015 D010603 AUSTRALIA
015 D020603 3000
015 E040603 X
015 A000604 CREDITANSTALT BANKVEREIN AG
015 B000604 S
015 C010604 VIENNA
015 D010604 AUSTRIA
015 D020604 1090
015 E040604 X
015 A000605 BANQUE BRUXELLES LAMBERT
015 B000605 S
015 C010605 BRUSSELS
015 D010605 BELGIUM
015 D020605 1040
015 E040605 X
015 A000606 THE BANK OF BERMUDA
015 B000606 S
015 C010606 HAMILTON
015 D010606 BERMUDA
015 E040606 X
015 A000607 SCMB (STANBIC BANK BOTSWANA)
015 B000607 S
015 C010607 GABORONE
015 D010607 BOTSWANA
015 D020607 00168
015 E040607 X
015 A000608 BANKBOSTON, N.A.
015 B000608 S
015 C010608 SAO PAULO
015 D010608 BRAZIL
015 D020608 01009-000
015 E040608 X
015 A000609 THE BRITISH BANK OF THE MIDDLE EAST
015 B000609 S
015 C010609 MANAMA
015 D010609 BAHRAIN
015 D020609 304
015 E040609 X
015 A000610 ROYAL BANK OF CANADA
015 B000610 S
PAGE
PAGE 62
015 C010610 TORONTO
015 D010610 CANADA
015 D020610 M5J 2J5
015 E040610 X
015 A000611 BANK OF CYPRUS
015 B000611 S
015 C010611 NICOSIA
015 D010611 CYPRUS
015 D020611 1160
015 E040611 X
015 A000612 DEN DANSKE BANK
015 B000612 S
015 C010612 COPENHAGEN
015 D010612 DENMARK
015 D020612 1092
015 E040612 X
015 A000613 MERITA BANK LTD
015 B000613 S
015 C010613 HELSINKI
015 D010613 FINLAND
015 D020613 00100
015 E040613 X
015 A000614 BANQUE PARIBAS
015 B000614 S
015 C010614 PARIS
015 D010614 FRANCE
015 D020614 75009
015 E040614 X
015 A000615 DRESDNER BANK
015 B000615 S
015 C010615 FRANKFURT
015 D010615 GERMANY
015 D020615 60301
015 E040615 X
015 A000616 SCMB (MERCHANT BANK OF GHANA LTD)
015 B000616 S
015 C010616 ACCRA
015 D010616 GHANA
015 E040616 X
015 A000617 NATIONAL BANK OF GREECE
015 B000617 S
015 C010617 ATHENS
015 D010617 GREECE
015 D020617 102 32
015 E040617 X
015 A000618 HONGKONG AND SHANGHAI BANKING CORP.
015 B000618 S
015 C010618 HONG KONG
015 D010618 HONG KONG
015 E040618 X
015 A000619 HONGKONG AND SHANGHAI BANKING CORP.
PAGE
PAGE 63
015 B000619 S
015 C010619 JAKARTA
015 D010619 INDONESIA
015 D020619 10023
015 E040619 X
015 A000620 ALLIED IRISH BANKS PLC
015 B000620 S
015 C010620 DUBLIN
015 D010620 IRELAND
015 D020620 1
015 E040620 X
015 A000621 BANCA COMMERCIALE ITALIANA
015 B000621 S
015 C010621 MILANO
015 D010621 ITALY
015 D020621 20121
015 E040621 X
015 A000622 SOCIETE GENERALE DE BANQUES EN COTE D'IVOIRE
015 B000622 S
015 C010622 ABIDJAN
015 D010622 IVORY COAST
015 D020622 10 BP 1355
015 E040622 X
015 A000623 BANK OF TOKYO-MITSUBISHI LIMITED
015 B000623 S
015 C010623 TOKYO
015 D010623 JAPAN
015 E040623 X
015 A000624 THE BRITISH BANK OF THE MIDDLE EAST
015 B000624 S
015 C010624 AMMAN
015 D010624 JORDAN
015 E040624 X
015 A000625 SCMB (STANBIC BANK KENYA LTD)
015 B000625 S
015 C010625 NAIROBI
015 D010625 KENYA
015 E040625 X
015 A000626 HONGKONG AND SHANGHAI BANKING CORP
015 B000626 S
015 C010626 PORT LOUIS
015 D010626 MAURITIUS
015 E040626 X
015 A000627 BANQUE INTERNATIONALE A LUXEMBOURG
015 B000627 S
015 C010627 LUXEMBOURG
015 D010627 LUXEMBOURG
015 D020627 2953
015 E040627 X
015 A000628 HONGKONG BANK MALAYSIA BERHAD
015 B000628 S
PAGE
PAGE 64
015 C010628 KUALA LUMPUR
015 D010628 MALAYSIA
015 D020628 50100
015 E040628 X
015 A000629 BANCO NACIONAL DE MEXICO
015 B000629 S
015 C010629 MEXICO, D.F.
015 D010629 MEXICO
015 D020629 01A10
015 E040629 X
015 A000630 BANQUE COMMERCIALE E MAROC
015 B000630 S
015 C010630 CASABLANCA
015 D010630 MOROCCO
015 D020630 2000
015 E040630 X
015 A000631 SCMB (STANBIC BANK NAMIBIA LTD)
015 B000631 S
015 C010631 WINDHOEK
015 D010631 NAMIBIA
015 E040631 X
015 A000632 MEES PIERSON
015 B000632 S
015 C010632 AMSTERDAM
015 D010632 NETHERLANDS
015 D020632 1012 KK
015 E040632 X
015 A000633 ANZ BANKING GROUP LIMITED
015 B000633 S
015 C010633 WELLINGTON
015 D010633 NEW ZEALAND
015 E040633 X
015 A000634 DEN NORSKE BANK
015 B000634 S
015 C010634 OSLO
015 D010634 NORWAY
015 D020634 0107
015 E040634 X
015 A000635 THE BRITISH BANK OF THE MIDDLE EAST
015 B000635 S
015 C010635 MUSCAT
015 D010635 OMAN
015 D020635 112
015 E040635 X
015 A000636 STANDARD CHARTERED BANK
015 B000636 S
015 C010636 KARACHI PAKISTAN
015 D010636 PAKISTAN
015 D020636 74000
015 E040636 X
015 A000637 CITIBANK NA
PAGE
PAGE 65
015 B000637 S
015 C010637 LIMA
015 D010637 PERU
015 D020637 27
015 E040637 X
015 A000638 HONGKONG AND SHANGHAI BANKING CORP
015 B000638 S
015 C010638 PASIG CITY
015 D010638 PHILIPPINES
015 E040638 X
015 A000639 BANCO COMERCIAL PORTUGUES
015 B000639 S
015 C010639 LISBON
015 D010639 PORTUGAL
015 D020639 1100
015 E040639 X
015 A000640 UNITED OVERSEAS BANK
015 B000640 S
015 C010640 SINGAPORE
015 D010640 SINGAPORE
015 D020640 048624
015 E040640 X
015 A000641 STANDARD BANK OF SOUTH AFRICA
015 B000641 S
015 C010641 JOHANNESBURG
015 D010641 SOUTH AFRICA
015 D020641 2001
015 E040641 X
015 A000642 STANDARD CHARTERED BANK
015 B000642 S
015 C010642 SEOUL
015 D010642 SOUTH KOREA
015 E040642 X
015 A000644 SCMB (STANBIC BANK SWAZILAND LTD)
015 B000644 S
015 C010644 MBABANE
015 D010644 SWAZILAND
015 E040644 X
015 A000645 SKANDINAVISKA ENSKILDA BANKEN
015 B000645 S
015 C010645 STOCKHOLM
015 D010645 SWEDEN
015 D020645 10640
015 E040645 X
015 A000646 UNION BANK OF SWITZERLAND
015 B000646 S
015 C010646 ZURICH
015 D010646 SWITZERLAND
015 E040646 X
015 A000647 STANDARD CHARTERED BANK
015 B000647 S
PAGE
PAGE 66
015 C010647 BANGKOK
015 D010647 THAILAND
015 D020647 10400
015 E040647 X
015 A000648 OTTOMAN BANK
015 B000648 S
015 C010648 ISTANBUL
015 D010648 TURKEY
015 D020648 80000
015 E040648 X
015 A000649 THE BANK OF NEW YORK
015 B000649 S
015 C010649 LONDON
015 D010649 UNITED KINGDOM
015 D020649 EC4M 6YE
015 E040649 X
015 A000650 BANKBOSTON, N.A.
015 B000650 S
015 C010650 MONTEVIDEO
015 D010650 URUGUAY
015 E040650 X
015 A000651 SCMB (STANBIC BANK ZAMBIA LTD)
015 B000651 S
015 C010651 LUSAKA
015 D010651 ZAMBIA
015 E040651 X
015 A000652 SCMB (STANBIC BANK ZIMBABWE LTD)
015 B000652 S
015 C010652 HARARE
015 D010652 ZIMBABWE
015 E040652 X
015 A000653 THE FIRST NATIONAL BANK OF CHICAGO
015 B000653 S
015 C010653 LONDON
015 D010653 UNITED KINGDOM
015 D020653 NW1 3FN
015 E040653 X
015 A000654 CEDEL BANK
015 B000654 S
015 C010654 LUXEMBOURG
015 D010654 LUXEMBOURG
015 D020654 L-1331
015 E040654 X
015 A000655 EUROCLEAR
015 B000655 S
015 C010655 BRUSSELS
015 D010655 BELGIUM
015 D020655 B-1210
015 E040655 X
015 A000656 CITIBANK BUDAPEST RT
015 B000656 S
PAGE
PAGE 67
015 C010656 BUDAPEST
015 D010656 HUNGARY
015 D020656 H-1051
015 E040656 X
015 A000657 BANCO BILBAO VIZCAYA
015 B000657 S
015 C010657 MADRID
015 D010657 SPAIN
015 D020657 28046
015 E040657 X
024 000600 N
025 A000402 BANKERS TRUST CORP
025 B000402 13-3311934
025 C000402 E
025 D000402 795
028 A010600 44777
028 A020600 5249
028 A030600 0
028 A040600 37485
028 B010600 20601
028 B020600 -4
028 B030600 0
028 B040600 60326
028 C010600 18516
028 C020600 0
028 C030600 0
028 C040600 37916
028 D010600 20774
028 D020600 0
028 D030600 0
028 D040600 31313
028 E010600 14023
028 E020600 1
028 E030600 0
028 E040600 19413
028 F010600 10425
028 F020600 3859
028 F030600 0
028 F040600 34405
028 G010600 129116
028 G020600 9105
028 G030600 0
028 G040600 220858
028 H000600 33549
029 000600 Y
030 A000600 4610
030 B000600 5.75
030 C000600 0.00
031 A000600 402
031 B000600 0
032 000600 4207
033 000600 0
034 000600 Y
035 000600 132
036 A000600 Y
PAGE
PAGE 68
036 B000600 0
037 000600 N
038 000600 0
039 000600 N
040 000600 Y
041 000600 Y
042 A000600 0
042 B000600 0
042 C000600 0
042 D000600 0
042 E000600 0
042 F000600 0
042 G000600 0
042 H000600 100
043 000600 1615
044 000600 66
045 000600 Y
046 000600 N
047 000600 Y
048 000600 0.800
048 A010600 0
048 A020600 0.000
048 B010600 0
048 B020600 0.000
048 C010600 0
048 C020600 0.000
048 D010600 0
048 D020600 0.000
048 E010600 0
048 E020600 0.000
048 F010600 0
048 F020600 0.000
048 G010600 0
048 G020600 0.000
048 H010600 0
048 H020600 0.000
048 I010600 0
048 I020600 0.000
048 J010600 0
048 J020600 0.000
048 K010600 0
048 K020600 0.000
055 A000600 N
055 B000600 N
056 000600 Y
057 000600 N
058 A000600 N
059 000600 Y
060 A000600 Y
060 B000600 Y
061 000600 1000
PAGE
PAGE 69
066 A000600 Y
066 B000600 N
066 C000600 Y
066 D000600 N
066 E000600 N
066 F000600 N
066 G000600 N
067 000600 N
068 A000600 N
068 B000600 N
069 000600 N
070 A010600 Y
070 A020600 Y
070 B010600 Y
070 B020600 N
070 C010600 Y
070 C020600 N
070 D010600 Y
070 D020600 N
070 E010600 Y
070 E020600 N
070 F010600 Y
070 F020600 N
070 G010600 Y
070 G020600 N
070 H010600 Y
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 Y
070 J020600 Y
070 K010600 Y
070 K020600 N
070 L010600 Y
070 L020600 Y
070 M010600 Y
070 M020600 Y
070 N010600 Y
070 N020600 N
070 O010600 Y
070 O020600 N
070 P010600 Y
070 P020600 N
070 Q010600 Y
070 Q020600 N
070 R010600 Y
070 R020600 Y
071 A000600 744862
071 B000600 545522
071 C000600 386331
071 D000600 141
PAGE
PAGE 70
072 A000600 12
072 B000600 4312
072 C000600 8645
072 D000600 0
072 E000600 0
072 F000600 3742
072 G000600 360
072 H000600 0
072 I000600 683
072 J000600 86
072 K000600 33
072 L000600 63
072 M000600 12
072 N000600 117
072 O000600 0
072 P000600 0
072 Q000600 0
072 R000600 0
072 S000600 19
072 T000600 1615
072 U000600 0
072 V000600 0
072 W000600 4
072 X000600 6734
072 Y000600 436
072 Z000600 6659
072AA000600 65244
072BB000600 66919
072CC010600 0
072CC020600 10675
072DD010600 2373
072DD020600 2766
072EE000600 4575
073 A010600 0.0000
073 A020600 0.0000
073 B000600 0.1100
073 C000600 0.0000
074 A000600 3775
074 B000600 0
074 C000600 39267
074 D000600 7210
074 E000600 0
074 F000600 382065
074 G000600 0
074 H000600 0
074 I000600 0
074 J000600 14103
074 K000600 0
074 L000600 1857
074 M000600 1349
074 N000600 449626
PAGE
PAGE 71
074 O000600 3251
074 P000600 976
074 Q000600 0
074 R010600 0
074 R020600 4179
074 R030600 0
074 R040600 5382
074 S000600 0
074 T000600 435838
074 U010600 11138
074 U020600 22776
074 V010600 0.00
074 V020600 0.00
074 W000600 0.0000
074 X000600 53249
074 Y000600 12504
075 A000600 0
075 B000600 468246
076 000600 0.00
072 Y000700 0
072 Z000700 0
072AA000700 0
072BB000700 0
072CC010700 0
072CC020700 0
072DD010700 0
072DD020700 0
072EE000700 0
073 A010700 0.0000
073 A020700 0.0000
073 B000700 0.0000
073 C000700 0.0000
074 A003400 0
074 B003400 0
074 C003400 0
074 D003400 0
074 E003400 0
074 F003400 0
074 G003400 0
074 H003400 0
074 I003400 0
074 J003400 0
074 K003400 0
074 L003400 0
074 M003400 0
074 N003400 0
074 O003600 0
074 P003600 0
074 Q003600 0
074 R013600 0
074 R023600 0
PAGE
PAGE 72
074 R033600 0
074 R043600 0
074 S003600 0
074 T003600 0
074 U013600 0
074 U023600 0
074 V013600 0.00
074 V023600 0.00
074 W003600 0.0000
074 X003600 0
074 Y003600 0
075 A004400 0
075 B004400 0
076 004400 0.00
SIGNATURE /s/JAMES R. BAIO
James R. Baio
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
The schedule contains summary financial information extracted from the
Mutual Shares Fund December 31, 1998 annual report and is qualified in
its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000825063
<NAME> FRANKLIN MUTUAL SERIES FUND INC.
<SERIES>
<NUMBER> 011
<NAME> MUTUAL SHARES FUND - CLASS I
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 6978951819
<INVESTMENTS-AT-VALUE> 8448918130
<RECEIVABLES> 120445064
<ASSETS-OTHER> 342474412
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 8911837606
<PAYABLE-FOR-SECURITIES> 65474863
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 63759176
<TOTAL-LIABILITIES> 129234039
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7176395096
<SHARES-COMMON-STOCK> 77429363
<SHARES-COMMON-PRIOR> 49071801
<ACCUMULATED-NII-CURRENT> 5008347
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 133700373
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1467499751
<NET-ASSETS> 8782603567
<DIVIDEND-INCOME> 148728155
<INTEREST-INCOME> 134618671
<OTHER-INCOME> 0
<EXPENSES-NET> (86972429)
<NET-INVESTMENT-INCOME> 196374397
<REALIZED-GAINS-CURRENT> 583182217
<APPREC-INCREASE-CURRENT> (827301518)
<NET-CHANGE-FROM-OPS> (47744904)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (33970722)
<DISTRIBUTIONS-OF-GAINS> (95152617)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 46308752
<NUMBER-OF-SHARES-REDEEMED> (24191574)
<SHARES-REINVESTED> 6240384
<NET-CHANGE-IN-ASSETS> (816482808)
<ACCUMULATED-NII-PRIOR> 18844839
<ACCUMULATED-GAINS-PRIOR> 119083166
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (59068503)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (90273000)
<AVERAGE-NET-ASSETS> 1487231885
<PER-SHARE-NAV-BEGIN> 21.26
<PER-SHARE-NII> 0.40
<PER-SHARE-GAIN-APPREC> (0.41)
<PER-SHARE-DIVIDEND> (0.46)
<PER-SHARE-DISTRIBUTIONS> (1.29)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 19.50
<EXPENSE-RATIO> 1.08
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0<F1><F2>
<FN>
<F1>The per share NAV has been restated to reflect a 5-for-1 stock split
effective February 3, 1997.
<F2>The expense ratio excluding waiver and payments by affiliates is 1.12%.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
The schedule conatains summary financial information extracted from the
Mutual Shares Fund December 31, 1998 annual report and is qualified in
its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000825063
<NAME> FRANKLIN MUTUAL SERIES FUND INC.
<SERIES>
<NUMBER> 012
<NAME> MUTUAL SHARES FUND - CLASS II
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 6978951819
<INVESTMENTS-AT-VALUE> 8448918130
<RECEIVABLES> 120445064
<ASSETS-OTHER> 342474412
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 8911837606
<PAYABLE-FOR-SECURITIES> 65474863
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 63759176
<TOTAL-LIABILITIES> 129234039
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7176395096
<SHARES-COMMON-STOCK> 51209632
<SHARES-COMMON-PRIOR> 30071639
<ACCUMULATED-NII-CURRENT> 5008347
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 133700373
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1467499751
<NET-ASSETS> 8782603567
<DIVIDEND-INCOME> 148728155
<INTEREST-INCOME> 134618671
<OTHER-INCOME> 0
<EXPENSES-NET> (86972429)
<NET-INVESTMENT-INCOME> 196374397
<REALIZED-GAINS-CURRENT> 583182217
<APPREC-INCREASE-CURRENT> (827301518)
<NET-CHANGE-FROM-OPS> (47744904)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (16236799)
<DISTRIBUTIONS-OF-GAINS> (62745269)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 28245508
<NUMBER-OF-SHARES-REDEEMED> (10921730)
<SHARES-REINVESTED> 3814215
<NET-CHANGE-IN-ASSETS> (816482808)
<ACCUMULATED-NII-PRIOR> 18844839
<ACCUMULATED-GAINS-PRIOR> 119083166
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (56068503)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (90273000)
<AVERAGE-NET-ASSETS> 949181699
<PER-SHARE-NAV-BEGIN> 21.18
<PER-SHARE-NII> 0.28
<PER-SHARE-GAIN-APPREC> (0.43)
<PER-SHARE-DIVIDEND> (0.33)
<PER-SHARE-DISTRIBUTIONS> (1.29)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 19.41
<EXPENSE-RATIO> 1.73
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0<F1><F2>
<FN>
<F1>The per share NAV has been restated to reflect a 5-for-1 stock split
effective February 3, 1997.
<F2>The expense ratio excluding waiver and payments by affiliates is 1.77%.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
The schedule contains summary financial information extracted from the
Mutual Shares Fund December 31, 1998 annual report and is qualified
in its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000825063
<NAME> FRANKLIN MUTUAL SERIES FUND INC.
<SERIES>
<NUMBER> 013
<NAME> MUTUAL SHARES FUND - CLASS Z
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 6978951819
<INVESTMENTS-AT-VALUE> 8448918130
<RECEIVABLES> 120445064
<ASSETS-OTHER> 342474412
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 8911837606
<PAYABLE-FOR-SECURITIES> 65474863
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 63759176
<TOTAL-LIABILITIES> 129234039
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7176395096
<SHARES-COMMON-STOCK> 321254341
<SHARES-COMMON-PRIOR> 371790528
<ACCUMULATED-NII-CURRENT> 5008347
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 133700373
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1467499751
<NET-ASSETS> 8782603567
<DIVIDEND-INCOME> 148728155
<INTEREST-INCOME> 134618671
<OTHER-INCOME> 0
<EXPENSES-NET> (86972429)
<NET-INVESTMENT-INCOME> 196374397
<REALIZED-GAINS-CURRENT> 583182217
<APPREC-INCREASE-CURRENT> (827301518)
<NET-CHANGE-FROM-OPS> (47744904)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (164855136)
<DISTRIBUTIONS-OF-GAINS> (405815356)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 19502032
<NUMBER-OF-SHARES-REDEEMED> (95950368)
<SHARES-REINVESTED> 25912149
<NET-CHANGE-IN-ASSETS> (816482808)
<ACCUMULATED-NII-PRIOR> 18844839
<ACCUMULATED-GAINS-PRIOR> 119083166
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (56068503)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (90273000)
<AVERAGE-NET-ASSETS> 7405126476
<PER-SHARE-NAV-BEGIN> 21.30
<PER-SHARE-NII> 0.53
<PER-SHARE-GAIN-APPREC> (0.46)
<PER-SHARE-DIVIDEND> (0.53)
<PER-SHARE-DISTRIBUTIONS> (1.29)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 19.55
<EXPENSE-RATIO> 0.73
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0<F1><F2>
<FN>
<F1>The per share NAV has been restated to reflect a 5-for-1 stock
split effective February 3, 1997.
<F2>The expense ratio excluding waiver and payments by affliates is
0.77%.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
The schedule contains summary financial information extracted from the
Mutual Qualified December 31, 1998 Annual Report and is qualified in its
entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000825063
<NAME> FRANKLIN MUTUAL SERIES FUND INC.
<SERIES>
<NUMBER> 021
<NAME> MUTUAL QUALIFIED FUND - CLASS I
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 3898799501
<INVESTMENTS-AT-VALUE> 4590783030
<RECEIVABLES> 90528720
<ASSETS-OTHER> 251968000
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4933279750
<PAYABLE-FOR-SECURITIES> 43942720
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 54066057
<TOTAL-LIABILITIES> 98008777
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4030545992
<SHARES-COMMON-STOCK> 34721323
<SHARES-COMMON-PRIOR> 24950021
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (6722046)
<ACCUMULATED-NET-GAINS> 121302119
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 690144908
<NET-ASSETS> 4835270973
<DIVIDEND-INCOME> 95702048
<INTEREST-INCOME> 66745646
<OTHER-INCOME> 0
<EXPENSES-NET> (49189107)
<NET-INVESTMENT-INCOME> 113258587
<REALIZED-GAINS-CURRENT> 440721475
<APPREC-INCREASE-CURRENT> (569601471)
<NET-CHANGE-FROM-OPS> (15621409)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (12591220)
<DISTRIBUTIONS-OF-GAINS> (43430197)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 18574657
<NUMBER-OF-SHARES-REDEEMED> (12017429)
<SHARES-REINVESTED> 3214074
<NET-CHANGE-IN-ASSETS> (1088987227)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 71308370
<OVERDISTRIB-NII-PRIOR> (9120509)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (34762293)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (51030845)
<AVERAGE-NET-ASSETS> 580751098
<PER-SHARE-NAV-BEGIN> 18.14
<PER-SHARE-NII> 0.35
<PER-SHARE-GAIN-APPREC> (0.35)
<PER-SHARE-DIVIDEND> (0.39)
<PER-SHARE-DISTRIBUTIONS> (1.33)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.42
<EXPENSE-RATIO> 1.11<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Expense ratio, excluding waiver and payments by affiliate is 1.14%.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
The schedule contains summary financial information extracted from the
Mutual Qualified December 31, 1998 Annual Report and is qualified in its
entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000825063
<NAME> FRANKLIN MUTUAL SERIES FUND INC.
<SERIES>
<NUMBER> 022
<NAME> MUTUAL QUALIFIED FUND - CLASS II
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 3898799501
<INVESTMENTS-AT-VALUE> 4590783030
<RECEIVABLES> 90528720
<ASSETS-OTHER> 251968000
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4933279750
<PAYABLE-FOR-SECURITIES> 43942720
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 249916762
<TOTAL-LIABILITIES> 54066057
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4030545992
<SHARES-COMMON-STOCK> 19725821
<SHARES-COMMON-PRIOR> 12808322
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (6722046)
<ACCUMULATED-NET-GAINS> 121302119
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 690144908
<NET-ASSETS> 4835270973
<DIVIDEND-INCOME> 95702048
<INTEREST-INCOME> 66745646
<OTHER-INCOME> 0
<EXPENSES-NET> (49189107)
<NET-INVESTMENT-INCOME> 113258587
<REALIZED-GAINS-CURRENT> 440721475
<APPREC-INCREASE-CURRENT> (569601471)
<NET-CHANGE-FROM-OPS> (15621409)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (5201123)
<DISTRIBUTIONS-OF-GAINS> (24765851)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 9583122
<NUMBER-OF-SHARES-REDEEMED> (4328390)
<SHARES-REINVESTED> 1662767
<NET-CHANGE-IN-ASSETS> (1088987227)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 71308370
<OVERDISTRIB-NII-PRIOR> (9120509)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (34762293)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (51030845)
<AVERAGE-NET-ASSETS> 318341983
<PER-SHARE-NAV-BEGIN> 18.09
<PER-SHARE-NII> 0.24
<PER-SHARE-GAIN-APPREC> (0.37)
<PER-SHARE-DIVIDEND> (0.28)
<PER-SHARE-DISTRIBUTIONS> (1.33)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.35
<EXPENSE-RATIO> 1.76<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Expense ratio, excluding waiver and payments by affiliate is 1.79%.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
The schedule contains summary financial information extracted from the
Mutual Qualified December 31, 1998 Annual Report and is qualified in its
entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000825063
<NAME> FRANKLIN MUTUAL SERIES FUND INC.
<SERIES>
<NUMBER> 023
<NAME> MUTUAL QUALIFIED FUND - CLASS Z
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 3898799501
<INVESTMENTS-AT-VALUE> 4590783030
<RECEIVABLES> 90528720
<ASSETS-OTHER> 251968000
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4933279750
<PAYABLE-FOR-SECURITIES> 43942720
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 249916762
<TOTAL-LIABILITIES> 54066057
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4030545992
<SHARES-COMMON-STOCK> 239532404
<SHARES-COMMON-PRIOR> 288130967
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (6722046)
<ACCUMULATED-NET-GAINS> 121302119
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 690144908
<NET-ASSETS> 4835270973
<DIVIDEND-INCOME> 95702048
<INTEREST-INCOME> 66745646
<OTHER-INCOME> 0
<EXPENSES-NET> (49189107)
<NET-INVESTMENT-INCOME> 113258587
<REALIZED-GAINS-CURRENT> 440721475
<APPREC-INCREASE-CURRENT> (569601471)
<NET-CHANGE-FROM-OPS> (15621409)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (104418623)
<DISTRIBUTIONS-OF-GAINS> (311180836)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 24990204
<NUMBER-OF-SHARES-REDEEMED> (97884948)
<SHARES-REINVESTED> 24296181
<NET-CHANGE-IN-ASSETS> (1088987227)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 71308370
<OVERDISTRIB-NII-PRIOR> (9120509)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (34762293)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (51030845)
<AVERAGE-NET-ASSETS> 4891918928
<PER-SHARE-NAV-BEGIN> 18.19
<PER-SHARE-NII> 0.43
<PER-SHARE-GAIN-APPREC> (0.38)
<PER-SHARE-DIVIDEND> (0.45)
<PER-SHARE-DISTRIBUTIONS> (1.33)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.46
<EXPENSE-RATIO> 0.76<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Expense ratio, excluding waiver and payments by affiliate is 0.79%.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
The schedule contains summary financial information extracted from the
Mutual Beacon Fund December 31, 1998 annual report and is qualified in
its entirety by reference to such financal statements.
</LEGEND>
<CIK> 0000825063
<NAME> FRANKLIN MUTUAL SERIES FUND, INC.
<SERIES>
<NUMBER> 031
<NAME> MUTUAL BEACON FUND - CLASS I
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 4460009942
<INVESTMENTS-AT-VALUE> 5221885373
<RECEIVABLES> 105637522
<ASSETS-OTHER> 246036072
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 5573558967
<PAYABLE-FOR-SECURITIES> 38473861
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 56719985
<TOTAL-LIABILITIES> 95193846
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4656097212
<SHARES-COMMON-STOCK> 72362807
<SHARES-COMMON-PRIOR> 53486802
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (26929334)
<ACCUMULATED-NET-GAINS> 93627496
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 755569747
<NET-ASSETS> 5478365121
<DIVIDEND-INCOME> 128502085
<INTEREST-INCOME> 71470992
<OTHER-INCOME> 0
<EXPENSES-NET> (58207240)
<NET-INVESTMENT-INCOME> 141765837
<REALIZED-GAINS-CURRENT> 391064810
<APPREC-INCREASE-CURRENT> (427971403)
<NET-CHANGE-FROM-OPS> 104859244
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (27206575)
<DISTRIBUTIONS-OF-GAINS> (59012359)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 33023123
<NUMBER-OF-SHARES-REDEEMED> (20320000)
<SHARES-REINVESTED> 6172882
<NET-CHANGE-IN-ASSETS> (1316400830)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 81862137
<OVERDISTRIB-NII-PRIOR> (13240115)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (39589767)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (60147101)
<AVERAGE-NET-ASSETS> 939801585
<PER-SHARE-NAV-BEGIN> 14.09
<PER-SHARE-NII> 0.27
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (0.40)
<PER-SHARE-DISTRIBUTIONS> (0.87)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.09
<EXPENSE-RATIO> 1.11<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Expense ratio, excluding waiver and payments by affiliates is 1.14%.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
The schedule contains summary financial information extracted from the
Mutual Beacon Fund December 31, 1998 annual report and is qualified in
its entirety by reference to such financal statements.
</LEGEND>
<CIK> 0000825063
<NAME> FRANKLIN MUTUAL SERIES FUND, INC.
<SERIES>
<NUMBER> 032
<NAME> MUTUAL BEACON FUND - CLASS II
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 4460009942
<INVESTMENTS-AT-VALUE> 5221885373
<RECEIVABLES> 105637522
<ASSETS-OTHER> 246036072
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 5573558967
<PAYABLE-FOR-SECURITIES> 38473861
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 56719985
<TOTAL-LIABILITIES> 95193846
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4656097212
<SHARES-COMMON-STOCK> 38365916
<SHARES-COMMON-PRIOR> 25807641
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (26929334)
<ACCUMULATED-NET-GAINS> 93627496
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 755569747
<NET-ASSETS> 5478365121
<DIVIDEND-INCOME> 128502085
<INTEREST-INCOME> 71470992
<OTHER-INCOME> 0
<EXPENSES-NET> (58207240)
<NET-INVESTMENT-INCOME> 141765837
<REALIZED-GAINS-CURRENT> 391064810
<APPREC-INCREASE-CURRENT> (427971403)
<NET-CHANGE-FROM-OPS> 104859244
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (11323821)
<DISTRIBUTIONS-OF-GAINS> (31235735)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 17229777
<NUMBER-OF-SHARES-REDEEMED> (7656767)
<SHARES-REINVESTED> 2985265
<NET-CHANGE-IN-ASSETS> (1316400830)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 81862137
<OVERDISTRIB-NII-PRIOR> (13240115)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (39589767)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (60147101)
<AVERAGE-NET-ASSETS> 482506881
<PER-SHARE-NAV-BEGIN> 14.04
<PER-SHARE-NII> 0.18
<PER-SHARE-GAIN-APPREC> 0.01
<PER-SHARE-DIVIDEND> (0.32)
<PER-SHARE-DISTRIBUTIONS> (0.87)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.04
<EXPENSE-RATIO> 1.76<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Expense ratio, excluding waiver and payments by affiliates is 1.79%.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
The schedule contains summary financial information extracted from the
Mutual Beacon Fund December 31, 1998 annual report and is qualified in
its entirety by reference to such financal statements.
</LEGEND>
<CIK> 0000825063
<NAME> FRANKLIN MUTUAL SERIES FUND, INC.
<SERIES>
<NUMBER> 033
<NAME> MUTUAL BEACON FUND - CLASS Z
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 4460009942
<INVESTMENTS-AT-VALUE> 5221885373
<RECEIVABLES> 105637522
<ASSETS-OTHER> 246036072
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 5573558967
<PAYABLE-FOR-SECURITIES> 38473861
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 56719985
<TOTAL-LIABILITIES> 95193846
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4656097212
<SHARES-COMMON-STOCK> 307102017
<SHARES-COMMON-PRIOR> 402248317
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (26929334)
<ACCUMULATED-NET-GAINS> 93627496
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 755569747
<NET-ASSETS> 5478365121
<DIVIDEND-INCOME> 128502085
<INTEREST-INCOME> 71470992
<OTHER-INCOME> 0
<EXPENSES-NET> (58207240)
<NET-INVESTMENT-INCOME> 141765837
<REALIZED-GAINS-CURRENT> 391064810
<APPREC-INCREASE-CURRENT> (427971403)
<NET-CHANGE-FROM-OPS> 104859244
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (137278406)
<DISTRIBUTIONS-OF-GAINS> (268697611)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 29538240
<NUMBER-OF-SHARES-REDEEMED> (153566842)
<SHARES-REINVESTED> 28882302
<NET-CHANGE-IN-ASSETS> (1316400830)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 81862137
<OVERDISTRIB-NII-PRIOR> (13240115)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (39589767)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (60147101)
<AVERAGE-NET-ASSETS> 5172644372
<PER-SHARE-NAV-BEGIN> 14.12
<PER-SHARE-NII> 0.33
<PER-SHARE-GAIN-APPREC> (0.01)
<PER-SHARE-DIVIDEND> (0.45)
<PER-SHARE-DISTRIBUTIONS> (0.87)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.12
<EXPENSE-RATIO> 0.76<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Expense ratio, excluding waiver and payments by affiliates is 0.79%.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
MUTUAL DISCOVERY FUND DECEMBER 31, 1998 ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000825063
<NAME> FRANKLIN MUTUAL SERIES FUND INC.
<SERIES>
<NUMBER> 041
<NAME> MUTUAL DISCOVERY FUND - CLASS I
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 3450811376
<INVESTMENTS-AT-VALUE> 4019281590
<RECEIVABLES> 112279437
<ASSETS-OTHER> 239271058
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4370832085
<PAYABLE-FOR-SECURITIES> 17201387
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 77166274
<TOTAL-LIABILITIES> 94367661
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3722116501
<SHARES-COMMON-STOCK> 50016964
<SHARES-COMMON-PRIOR> 36860777
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (45045911)
<ACCUMULATED-NET-GAINS> 49435922
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (211246260)
<NET-ASSETS> 3937752772
<DIVIDEND-INCOME> 92844164
<INTEREST-INCOME> 51195695
<OTHER-INCOME> 0
<EXPENSES-NET> (60061592)
<NET-INVESTMENT-INCOME> 83978267
<REALIZED-GAINS-CURRENT> 164704672
<APPREC-INCREASE-CURRENT> (434011075)
<NET-CHANGE-FROM-OPS> (185328136)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (20468910)
<DISTRIBUTIONS-OF-GAINS> (40521871)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 34825153
<NUMBER-OF-SHARES-REDEEMED> (24829893)
<SHARES-REINVESTED> 3160927
<NET-CHANGE-IN-ASSETS> (1038374117)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 97057881
<OVERDISTRIB-NII-PRIOR> (31183193)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (41019712)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (61345453)
<AVERAGE-NET-ASSETS> 904304263
<PER-SHARE-NAV-BEGIN> 18.83
<PER-SHARE-NII> 0.32
<PER-SHARE-GAIN-APPREC> (0.74)
<PER-SHARE-DIVIDEND> (0.41)
<PER-SHARE-DISTRIBUTIONS> (0.81)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 17.19
<EXPENSE-RATIO> 1.35<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1> The expense ratio excluding waiver and payments by affiliates is 1.38%.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
MUTUAL DISCOVERY FUND DECEMBER 31, 1998 ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000825063
<NAME> FRANKLIN MUTUAL SERIES FUND INC.
<SERIES>
<NUMBER> 042
<NAME> MUTUAL DISCOVERY FUND - CLASS II
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 3450811376
<INVESTMENTS-AT-VALUE> 4019281590
<RECEIVABLES> 112279437
<ASSETS-OTHER> 239271058
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4370832085
<PAYABLE-FOR-SECURITIES> 17201387
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 77166274
<TOTAL-LIABILITIES> 94367661
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3722116501
<SHARES-COMMON-STOCK> 32864405
<SHARES-COMMON-PRIOR> 21431763
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (45045911)
<ACCUMULATED-NET-GAINS> 49435922
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (211246260)
<NET-ASSETS> 3937752772
<DIVIDEND-INCOME> 92844164
<INTEREST-INCOME> 51195695
<OTHER-INCOME> 0
<EXPENSES-NET> (60061592)
<NET-INVESTMENT-INCOME> 83978267
<REALIZED-GAINS-CURRENT> 164704672
<APPREC-INCREASE-CURRENT> (434011075)
<NET-CHANGE-FROM-OPS> (185328136)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (9767282)
<DISTRIBUTIONS-OF-GAINS> (25858757)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 16896047
<NUMBER-OF-SHARES-REDEEMED> (7286338)
<SHARES-REINVESTED> 1822933
<NET-CHANGE-IN-ASSETS> (1038374117)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 97057881
<OVERDISTRIB-NII-PRIOR> (31183193)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (41019712)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (61345453)
<AVERAGE-NET-ASSETS> 560019847
<PER-SHARE-NAV-BEGIN> 18.79
<PER-SHARE-NII> 0.23
<PER-SHARE-GAIN-APPREC> (0.75)
<PER-SHARE-DIVIDEND> (0.31)
<PER-SHARE-DISTRIBUTIONS> (0.81)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 17.15
<EXPENSE-RATIO> 2.00<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1> The expense ratio excluding waiver and payments by affiliates is 2.02%.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
MUTUAL DISCOVERY FUND DECEMBER 31, 1998 ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000825063
<NAME> FRANKLIN MUTUAL SERIES FUND INC.
<SERIES>
<NUMBER> 043
<NAME> MUTUAL DISCOVERY FUND - CLASS Z
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 3450811376
<INVESTMENTS-AT-VALUE> 4019281590
<RECEIVABLES> 112279437
<ASSETS-OTHER> 239271058
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4370832085
<PAYABLE-FOR-SECURITIES> 17201387
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 77166274
<TOTAL-LIABILITIES> 94367661
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3722116501
<SHARES-COMMON-STOCK> 145619362
<SHARES-COMMON-PRIOR> 205337909
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (45045911)
<ACCUMULATED-NET-GAINS> 49435922
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (211246260)
<NET-ASSETS> 3937752772
<DIVIDEND-INCOME> 92844164
<INTEREST-INCOME> 51195695
<OTHER-INCOME> 0
<EXPENSES-NET> (60061592)
<NET-INVESTMENT-INCOME> 83978267
<REALIZED-GAINS-CURRENT> 164704672
<APPREC-INCREASE-CURRENT> (434011075)
<NET-CHANGE-FROM-OPS> (185328136)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (74719859)
<DISTRIBUTIONS-OF-GAINS> (138830937)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 25432957
<NUMBER-OF-SHARES-REDEEMED> (96260843)
<SHARES-REINVESTED> 11109339
<NET-CHANGE-IN-ASSETS> (1038374117)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 97057881
<OVERDISTRIB-NII-PRIOR> (31183193)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (41019712)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (61345453)
<AVERAGE-NET-ASSETS> 3660278026
<PER-SHARE-NAV-BEGIN> 18.89
<PER-SHARE-NII> 0.38
<PER-SHARE-GAIN-APPREC> (0.71)
<PER-SHARE-DIVIDEND> (0.48)
<PER-SHARE-DISTRIBUTIONS> (0.81)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 17.27
<EXPENSE-RATIO> 1.00<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1> The expense ratio excluding waiver and payments by affiliates is 1.03%.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
The schedule contains summary financial information extracted from the
Mutual European Fund December 31, 1998 Annual Report and is qualified in
its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000825063
<NAME> FRANKLIN MUTUAL SERIES FUND INC.
<SERIES>
<NUMBER>051
<NAME> MUTUAL EUROPEAN FUND - CLASS I
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 682533112
<INVESTMENTS-AT-VALUE> 734876613
<RECEIVABLES> 24347321
<ASSETS-OTHER> 32598000
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 791821934
<PAYABLE-FOR-SECURITIES> 23400926
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 17506781
<TOTAL-LIABILITIES> 40907707
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 701822271
<SHARES-COMMON-STOCK> 13668766
<SHARES-COMMON-PRIOR> 7420423
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (2431378)
<ACCUMULATED-NET-GAINS> 4578672
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 46944662
<NET-ASSETS> 750914227
<DIVIDEND-INCOME> 17964517
<INTEREST-INCOME> 8279189
<OTHER-INCOME> 0
<EXPENSES-NET> (10414444)
<NET-INVESTMENT-INCOME> 15829262
<REALIZED-GAINS-CURRENT> 6283000
<APPREC-INCREASE-CURRENT> (21552207)
<NET-CHANGE-FROM-OPS> 560055
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3913014)
<DISTRIBUTIONS-OF-GAINS> (5010752)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 30432242
<NUMBER-OF-SHARES-REDEEMED> (24763667)
<SHARES-REINVESTED> 579768
<NET-CHANGE-IN-ASSETS> 61728690
<ACCUMULATED-NII-PRIOR> 119297
<ACCUMULATED-GAINS-PRIOR> 24408641
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (6843216)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (10414444)
<AVERAGE-NET-ASSETS> 162235633
<PER-SHARE-NAV-BEGIN> 12.56
<PER-SHARE-NII> 0.27
<PER-SHARE-GAIN-APPREC> 0.29
<PER-SHARE-DIVIDEND> (0.29)
<PER-SHARE-DISTRIBUTIONS> (0.36)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.47
<EXPENSE-RATIO> 1.40
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
The schedule contains summary financial information extracted from the
Mutual European Fund December 31, 1998 Annual Report and is qualified in
its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000825063
<NAME> FRANKLIN MUTUAL SERIES FUND INC.
<SERIES>
<NUMBER>052
<NAME> MUTUAL EUROPEAN FUND - CLASS II
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 682533112
<INVESTMENTS-AT-VALUE> 734876613
<RECEIVABLES> 24347321
<ASSETS-OTHER> 32598000
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 791821934
<PAYABLE-FOR-SECURITIES> 23400926
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 17506781
<TOTAL-LIABILITIES> 40907707
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 701822271
<SHARES-COMMON-STOCK> 7753961
<SHARES-COMMON-PRIOR> 3926964
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (2431378)
<ACCUMULATED-NET-GAINS> 4578672
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 46944662
<NET-ASSETS> 750914227
<DIVIDEND-INCOME> 17964517
<INTEREST-INCOME> 8279189
<OTHER-INCOME> 0
<EXPENSES-NET> (10414444)
<NET-INVESTMENT-INCOME> 15829262
<REALIZED-GAINS-CURRENT> 6283000
<APPREC-INCREASE-CURRENT> (21552207)
<NET-CHANGE-FROM-OPS> 560055
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1783371)
<DISTRIBUTIONS-OF-GAINS> (2814880)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6416186
<NUMBER-OF-SHARES-REDEEMED> (2903661)
<SHARES-REINVESTED> 314472
<NET-CHANGE-IN-ASSETS> 61728690
<ACCUMULATED-NII-PRIOR> 119297
<ACCUMULATED-GAINS-PRIOR> 24408641
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (6843216)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (10414444)
<AVERAGE-NET-ASSETS> 89336531
<PER-SHARE-NAV-BEGIN> 12.52
<PER-SHARE-NII> 0.21
<PER-SHARE-GAIN-APPREC> 0.31
<PER-SHARE-DIVIDEND> (0.23)
<PER-SHARE-DISTRIBUTIONS> (0.36)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.45
<EXPENSE-RATIO> 2.05
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
The schedule contains summary financial information extracted from the
Mutual European Fund December 31, 1998 Annual Report and is qualified in
its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000825063
<NAME> FRANKLIN MUTUAL SERIES FUND INC.
<SERIES>
<NUMBER> 053
<NAME> MUTUAL EUROPEAN FUND - CLASS Z
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 682533112
<INVESTMENTS-AT-VALUE> 734876613
<RECEIVABLES> 24347321
<ASSETS-OTHER> 32598000
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 791821934
<PAYABLE-FOR-SECURITIES> 23400926
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 17506781
<TOTAL-LIABILITIES> 40907707
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 701822271
<SHARES-COMMON-STOCK> 38578050
<SHARES-COMMON-PRIOR> 43411737
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (2431378)
<ACCUMULATED-NET-GAINS> 4578672
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 46944662
<NET-ASSETS> 750914227
<DIVIDEND-INCOME> 17964517
<INTEREST-INCOME> 8279189
<OTHER-INCOME> 0
<EXPENSES-NET> (10414444)
<NET-INVESTMENT-INCOME> 15829262
<REALIZED-GAINS-CURRENT> 6283000
<APPREC-INCREASE-CURRENT> (21552207)
<NET-CHANGE-FROM-OPS> 560055
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (13601975)
<DISTRIBUTIONS-OF-GAINS> (17368914)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 23594141
<NUMBER-OF-SHARES-REDEEMED> (30159934)
<SHARES-REINVESTED> 1732106
<NET-CHANGE-IN-ASSETS> 61728690
<ACCUMULATED-NII-PRIOR> 119297
<ACCUMULATED-GAINS-PRIOR> 24408641
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (6843216)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (10414444)
<AVERAGE-NET-ASSETS> 604126306
<PER-SHARE-NAV-BEGIN> 12.60
<PER-SHARE-NII> 0.31
<PER-SHARE-GAIN-APPREC> 0.33
<PER-SHARE-DIVIDEND> (0.34)
<PER-SHARE-DISTRIBUTIONS> (0.36)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.54
<EXPENSE-RATIO> 1.05
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
MUTUAL FINANCIAL SERVICES FUND DECEMBER 31, 1998 ANNUAL REPORTS AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000825063
<NAME> FRANKLIN MUTUAL SERIES FUND, INC.
<SERIES>
<NUMBER> 061
<NAME> MUTUAL FINANCIAL SERVICES FUND - CLASS I
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 416992736
<INVESTMENTS-AT-VALUE> 424362240
<RECEIVABLES> 15959990
<ASSETS-OTHER> 5124345
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 445446575
<PAYABLE-FOR-SECURITIES> 3251441
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6357413
<TOTAL-LIABILITIES> 9608854
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 430766403
<SHARES-COMMON-STOCK> 12824019
<SHARES-COMMON-PRIOR> 6376348
<ACCUMULATED-NII-CURRENT> 662433
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (1779073)
<ACCUM-APPREC-OR-DEPREC> 6187958
<NET-ASSETS> 435837721
<DIVIDEND-INCOME> 8645374
<INTEREST-INCOME> 4311789
<OTHER-INCOME> 0
<EXPENSES-NET> (6297752)
<NET-INVESTMENT-INCOME> 6659411
<REALIZED-GAINS-CURRENT> (1674796)
<APPREC-INCREASE-CURRENT> (10675258)
<NET-CHANGE-FROM-OPS> (5690643)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1942133)
<DISTRIBUTIONS-OF-GAINS> (1546395)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 15112548
<NUMBER-OF-SHARES-REDEEMED> (8903051)
<SHARES-REINVESTED> 238174
<NET-CHANGE-IN-ASSETS> 178032225
<ACCUMULATED-NII-PRIOR> 108579
<ACCUMULATED-GAINS-PRIOR> 3503357
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (3742268)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (6733550)
<AVERAGE-NET-ASSETS> 159038436
<PER-SHARE-NAV-BEGIN> 12.27
<PER-SHARE-NII> 0.17
<PER-SHARE-GAIN-APPREC> 0.69
<PER-SHARE-DIVIDEND> (0.15)
<PER-SHARE-DISTRIBUTIONS> (0.11)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.87
<EXPENSE-RATIO> 1.35<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1> The expense ratio excluding waiver and payments by affiliates is 1.44%
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
MUTUAL FINANCIAL SERVICES FUND DECEMBER 31, 1998 ANNUAL REPORTS AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000825063
<NAME> FRANKLIN MUTUAL SERIES FUND, INC.
<SERIES>
<NUMBER> 062
<NAME> MUTUAL FINANCIAL SERVICES FUND - CLASS II
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 416992736
<INVESTMENTS-AT-VALUE> 424362240
<RECEIVABLES> 15959990
<ASSETS-OTHER> 5124345
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 445446575
<PAYABLE-FOR-SECURITIES> 3251441
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6357413
<TOTAL-LIABILITIES> 9608854
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 430766403
<SHARES-COMMON-STOCK> 9952021
<SHARES-COMMON-PRIOR> 3524251
<ACCUMULATED-NII-CURRENT> 662433
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (1779073)
<ACCUM-APPREC-OR-DEPREC> 6187958
<NET-ASSETS> 435837721
<DIVIDEND-INCOME> 8645374
<INTEREST-INCOME> 4311789
<OTHER-INCOME> 0
<EXPENSES-NET> (6297752)
<NET-INVESTMENT-INCOME> 6659411
<REALIZED-GAINS-CURRENT> (1674796)
<APPREC-INCREASE-CURRENT> (10675258)
<NET-CHANGE-FROM-OPS> (5690643)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (823,564)
<DISTRIBUTIONS-OF-GAINS> (1039797)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8626732
<NUMBER-OF-SHARES-REDEEMED> (2326399)
<SHARES-REINVESTED> 127437
<NET-CHANGE-IN-ASSETS> 178032225
<ACCUMULATED-NII-PRIOR> 108579
<ACCUMULATED-GAINS-PRIOR> 3503357
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (3742268)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (6733550)
<AVERAGE-NET-ASSETS> 105980230
<PER-SHARE-NAV-BEGIN> 12.26
<PER-SHARE-NII> 0.08
<PER-SHARE-GAIN-APPREC> 0.68
<PER-SHARE-DIVIDEND> (0.08)
<PER-SHARE-DISTRIBUTIONS> (0.11)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.83
<EXPENSE-RATIO> 2.00<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1> The expense ratio excluding waiver and payments by affiliates is 2.09%.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
MUTUAL FINANCIAL SERVICES FUND DECEMBER 31, 1998 ANNUAL REPORTS AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000825063
<NAME> FRANKLIN MUTUAL SERIES FUND, INC.
<SERIES>
<NUMBER> 063
<NAME> MUTUAL FINANCIAL SERVICES FUND - CLASS Z
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 416992736
<INVESTMENTS-AT-VALUE> 424362240
<RECEIVABLES> 15959990
<ASSETS-OTHER> 5124345
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 445446575
<PAYABLE-FOR-SECURITIES> 3251441
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6357413
<TOTAL-LIABILITIES> 9608854
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 430766403
<SHARES-COMMON-STOCK> 11137627
<SHARES-COMMON-PRIOR> 11114665
<ACCUMULATED-NII-CURRENT> 662433
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (1779073)
<ACCUM-APPREC-OR-DEPREC> 6187958
<NET-ASSETS> 435837721
<DIVIDEND-INCOME> 8645374
<INTEREST-INCOME> 4311789
<OTHER-INCOME> 0
<EXPENSES-NET> (6297752)
<NET-INVESTMENT-INCOME> 6659411
<REALIZED-GAINS-CURRENT> (1674796)
<APPREC-INCREASE-CURRENT> (10675258)
<NET-CHANGE-FROM-OPS> (5690643)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2372985)
<DISTRIBUTIONS-OF-GAINS> (1988317)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 15667428
<NUMBER-OF-SHARES-REDEEMED> (15948655)
<SHARES-REINVESTED> 304189
<NET-CHANGE-IN-ASSETS> 178032225
<ACCUMULATED-NII-PRIOR> 108579
<ACCUMULATED-GAINS-PRIOR> 3503357
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (3742268)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (6733550)
<AVERAGE-NET-ASSETS> 203227817
<PER-SHARE-NAV-BEGIN> 12.27
<PER-SHARE-NII> 0.24
<PER-SHARE-GAIN-APPREC> 0.64
<PER-SHARE-DIVIDEND> (0.19)
<PER-SHARE-DISTRIBUTIONS> (0.11)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.85
<EXPENSE-RATIO> 1.00<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1> The expense ratio excluding waiver and paymnets by affiliates is 1.09%.
</FN>
</TABLE>
Report of Independent Auditors
To the Shareholders and Board of Directors of
Franklin Mutual Series Fund Inc.
In planning and performing our audit of the financial statements of Franklin
Mutual Series Fund Inc. for the year ended December 31, 1998, we considered its
internal control, including control activities for safeguarding securities, in
order to determine our auditing procedures for the purpose of expressing our
opinion on the financial statements and to comply with the requirements of Form
N-SAR, and not to provide assurance on the internal control.
The management of Franklin Mutual Series Fund Inc. 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 controls. Generally, controls that are
relevant to an audit pertain to the entity's objective of preparing financial
statements for external purposes that are fairly presented in conformity with
generally accepted accounting principles. Those controls include the
safeguarding of assets against unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, errors 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 one or more
of the specific internal control components does not reduce to a relatively low
level the risk that errors or fraud in amounts that would be material in
relation to the financial statements 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 for safeguarding securities, that we consider
to be material weaknesses as defined above at December 31, 1998.
This report is intended solely for the information and use of the board of
directors and management of Franklin Mutual Series Fund Inc. and the Securities
and Exchange Commission and is not intended to be and should not be used by
anyone other than these specified parties.
/s/ERNST & YOUNG LLP
January 29, 1999
Boston, Massachusetts
