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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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008 A001401 CONLEY-SMITH, INC.
008 B001401 A
008 C001401 801-31689
008 D011401 LINCOLN
008 D021401 NE
008 D031401 68501
008 D041401 3000
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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SIGNATURE THOMAS C. SMITH
TITLE CHAIRMAN
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Pursuant to Item 601 (c) (2) (i) of Regulations S-K and S-B.
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<CIK> 0000828844
<NAME> SMITH HAYES TRUST, INC.
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Pursuant to Item 601 (c) (2) (i) of Regulations S-K and S-B.
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<SERIES>
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<TABLE> <S> <C>
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<LEGEND>
Pursuant to Item 601 (c) (2) (i) of Regulations S-K and S-B.
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<CIK> 0000828844
<NAME> SMITH HAYES TRUST, INC.
<SERIES>
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<LEGEND>
Pursuant to Item 601 (c) (2) (i) of Regulations S-K and S-B.
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<SERIES>
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Pursuant to Item 601 (c) (2) (i) of Regulations S-K and S-B.
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<NAME> SMITH HAYES TRUST, INC.
<SERIES>
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<LEGEND>
Pursuant to Item 601 (c) (2) (i) of Regulations S-K and S-B.
</LEGEND>
<CIK> 0000828844
<NAME> SMITH HAYES TRUST, INC.
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<NUMBER> 13
<NAME> NEBRASKA TAX FREE FUND
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<LEGEND>
Reorganization took place on 8-25-95 the NAV was 8.61. Pursuant to Item 601 (c)
(2) (i) of Regulations S-K and S-B.
</LEGEND>
<CIK> 0000828844
<NAME> SMITH HAYES TRUST, INC.
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<NUMBER> 1
<NAME> ASSET ALLOCATION PORTFOLIO
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<TABLE> <S> <C>
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<LEGEND>
Reorganization took place 8-25-95, NAV on 8-25 was 8.67. Pursuant to Item 601
(c) (2) (i) of Regulations S-K and S-B.
</LEGEND>
<CIK> 0000828844
<NAME> SMITH HAYES TRUST,INC.
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<NAME> BALANCED PORTFOLIO
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<TABLE> <S> <C>
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<LEGEND>
Reorganization took place on 8-25-95. NAV was 7.61 on 8-25. Pursuant to Item 601
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</LEGEND>
<CIK> 0000828844
<NAME> SMITH HAYES TRUST, INC.
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<NAME> VALUE PORTFOLIO
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