<PAGE> PAGE 1
000 B000000 10/31/94
000 C000000 0000831675
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 FLAG INVESTORS EMERGING GROWTH FUND, INC.
001 B000000 811-5320
001 C000000 4107271700
002 A000000 135 E. BALTIMORE STREET
002 B000000 BALTIMORE
002 C000000 MD
002 D010000 21202
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
020 A000001 SHEARSON LEHMAN BROTHERS INC.
020 B000001 13-2518466
020 C000001 9
020 A000002 JEFFRIES & COMPANY, INC.
020 B000002 95-2622900
020 C000002 4
020 A000003 NEEDHAM & COMPANY, INC.
020 B000003 13-3255839
020 C000003 3
020 A000004 DONALDSON, LUFKIN, JENRETTE SECURITIES
020 B000004 13-2741729
020 C000004 3
020 A000005 JANNEY MONTGOMERY SCOTT INC.
020 B000005 23-0731260
020 C000005 3
020 A000006 OPPENHEIMER & COMPANY, INC.
020 B000006 13-2798343
020 C000006 2
020 A000007 WESSEL, ARNOLD & HENDERSON
020 B000007 41-1554558
020 C000007 2
020 A000008 BEAR, STEARS & CO. INC.
020 B000008 13-3299429
020 C000008 2
020 A000009 PAINEWEBBER INCORPORATED
020 B000009 13-2638166
020 C000009 2
020 A000010 SMITH BARNEY SHEARSON
020 B000010 13-3371860
<PAGE> PAGE 2
020 C000010 2
021 000000 41
022 A000001 GOLDMAN, SACHS & CO.
022 B000001 13-5108880
022 C000001 318412
022 D000001 703
022 A000002 GENERAL MOTORS CREDIT CORP.
022 B000002 N/A
022 C000002 106400
022 D000002 0
022 A000003 FORD MOTOR CREDIT CORP.
022 B000003 N/A
022 C000003 33100
022 D000003 0
022 A000004 ROBERTSON, STEPHENS & COMPANY
022 B000004 94-2524501
022 C000004 3122
022 D000004 1350
022 A000005 MONTGOMERY SECURITIES
022 B000005 23-0731260
022 C000005 3033
022 D000005 358
022 A000006 WESSELS, ARNOLD, HENDERSON
022 B000006 41-1554568
022 C000006 1310
022 D000006 864
022 A000007 HAMBRECT & QUIST INCORPORATED
022 B000007 94-2856935
022 C000007 1047
022 D000007 962
022 A000008 KIDDER, PEABODY & CO INCORPORATED
022 B000008 13-5650440
022 C000008 691
022 D000008 1309
022 A000009 JEFFRIES & COMPANY, INC.
022 B000009 95-2622900
022 C000009 1060
022 D000009 672
022 A000010 COWEN & COMPANY
022 B000010 13-5616166
022 C000010 418
022 D000010 1306
023 C000000 471342
023 D000000 14637
028 A01AA00 332
028 A02AA00 0
028 A03AA00 0
028 A04AA00 1183
028 B01AA00 91
028 B02AA00 0
028 B03AA00 0
<PAGE> PAGE 3
028 B04AA00 2074
028 C01AA00 32
028 C02AA00 0
028 C03AA00 0
028 C04AA00 848
028 D01AA00 96
028 D02AA00 0
028 D03AA00 0
028 D04AA00 360
028 E01AA00 114
028 E02AA00 0
028 E03AA00 0
028 E04AA00 354
028 F01AA00 232
028 F02AA00 0
028 F03AA00 0
028 F04AA00 624
028 G01AA00 897
028 G02AA00 0
028 G03AA00 0
028 G04AA00 5443
028 H00AA00 530
029 00AA00 Y
030 A00AA00 13
030 B00AA00 4.50
030 C00AA00 0.00
031 A00AA00 1
031 B00AA00 0
032 00AA00 0
033 00AA00 12
042 A00AA00 0
042 B00AA00 0
042 C00AA00 100
042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 61
044 00AA00 0
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
<PAGE> PAGE 4
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
071 A00AA00 20087
071 B00AA00 22529
071 C00AA00 23405
071 D00AA00 86
072 A00AA00 12
072 B00AA00 145
072 C00AA00 43
072 D00AA00 0
072 E00AA00 0
072 F00AA00 206
072 G00AA00 0
072 H00AA00 0
072 I00AA00 23
072 J00AA00 22
072 K00AA00 11
072 L00AA00 16
072 M00AA00 2
072 N00AA00 19
072 O00AA00 0
072 P00AA00 0
072 Q00AA00 26
072 R00AA00 21
072 S00AA00 34
072 T00AA00 61
072 U00AA00 0
072 V00AA00 0
072 W00AA00 16
072 X00AA00 456
072 Y00AA00 92
072 Z00AA00 -176
072AA00AA00 2904
072BB00AA00 2918
072CC01AA00 329
072CC02AA00 0
072DD01AA00 0
072DD02AA00 0
072EE00AA00 2944
073 A01AA00 0.0000
073 A02AA00 0.0000
073 B00AA00 1.5100
073 C00AA00 0.0000
074 A00AA00 1
074 B00AA00 588
074 C00AA00 2500
<PAGE> PAGE 5
074 D00AA00 0
074 E00AA00 0
074 F00AA00 20438
074 G00AA00 0
074 H00AA00 0
074 I00AA00 0
074 J00AA00 0
074 K00AA00 0
074 L00AA00 38
074 M00AA00 15
074 N00AA00 23580
074 O00AA00 0
074 P00AA00 0
074 Q00AA00 0
074 R01AA00 0
074 R02AA00 0
074 R03AA00 0
074 R04AA00 278
074 S00AA00 0
074 T00AA00 23302
074 U01AA00 1806
074 U02AA00 0
074 V01AA00 12.90
074 V02AA00 0.00
074 W00AA00 0.0000
074 X00AA00 1200
074 Y00AA00 0
075 A00AA00 0
075 B00AA00 26395
077 A000000 Y
077 B000000 Y
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 C00AA00 9000
081 A00AA00 Y
081 B00AA00 13
082 A00AA00 Y
082 B00AA00 100
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
SIGNATURE EDWARD J. VEILLEUX
TITLE VICE PRESIDENT
