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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2
Read instructions at end of Form before preparing Form.
Please print or type.
1. Name and address of issuer: IDS Market Advantage
Series, Inc.
IDS Tower 10
Minneapolis, MN 55440-
0010
_______________________________________________________
____________
2. Name of each series or class of funds for which
this notice is
filed:
Series Class(es) of
Shares
IDS Blue Chip Advantage Fund Class A
Class B
Class Y
IDS Small Company Index Fund Class A
Class B
Class Y
_______________________________________________________
____________
3. Investment Company Act File Number: 811-5897
Securities Act File Number: 33-30770
_______________________________________________________
____________
4. Last day of fiscal year for which this notice is
filed:
January 31, 1997
_______________________________________________________
____________
5. Check box if this notice is being filed more than
180 days
after the close of the issuer's fiscal year for
purposes of
reporting securities sold after the close of the
fiscal year
but before termination of the issuer's 24f-2
declaration:
[ ]
_______________________________________________________
___________
6. Date of termination of issuer's declaration under
rule 24f-2
(a)(1), if applicable (see instruction A.6):
Not Applicable
_______________________________________________________
____________
7. Number and amount of securities of the same class
or series
which had been registered under the Securities Act
of 1933
other than pursuant to rule 24f-2 in a prior fiscal
year, but
which remained unsold at the beginning of the
fiscal year: $1,213,238
_______________________________________________________
____________
8. Number and amount of securities registered during
the fiscal
year other than pursuant to rule 24f-2: 0
_______________________________________________________
____________
9. Number and aggregate sale price of securities sold
during the
fiscal year: $982,896,410
_______________________________________________________
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10. Number and aggregate sale price of securities sold
during the
fiscal year in reliance upon registration pursuant
to rule
24f-2: $982,896,410
_______________________________________________________
____________
11. Number and aggregate sale price of securities
issued during the
fiscal year in connection with dividend
reinvestment plans, if
applicable (see Instruction B.7): N/A
_______________________________________________________
____________
12. Calculation of registration fee:
(i) Aggregate sale price of securities
sold during the fiscal year in reliance
on rule 24f-2 (from Item 10): $
982,896,410
(ii) Aggregate price of shares issued in
connection with dividend reinvestment
plans (from Item 11, if applicable): +
0
(iii) Aggregate price of shares redeemed or
repurchased during the fiscal year
(if applicable): -
204,606,909
(iv) Aggregate price of shares redeemed or
repurchased and previously applied as a
reduction to filing fees pursuant to
rule 24e-2 (if applicable): +
<1,213,238>
(v) Net aggregate price of securities sold
and issued during the fiscal year in
reliance on rule 24f-2 [line (i), plus
line (ii), less line (iii), plus line
(iv)] (if applicable):
777,076,263
(vi) Multiplier prescribed by Section 6(b)
of the Securities Act of 1933 or other
applicable law or regulation
(see Instruction C.6): x
1/3300
(vii) Fee due [line (i) or line (v) multiplied
by line (vi)]: $
235,477.66
Instruction: Issuers should complete lines (ii),
(iii), (iv), and (v) only if the form is being filed
within 60 days after the close of the issuer's fiscal
year. See Instruction C.3.
_______________________________________________________
___________
13. Check box if fees are being remitted to the
Commission's
lockbox depository as described in section 3a of
the
Commission's Rules of Informal and Other Procedures
(17 CFR
202.3a):
[X]
Date of mailing or wire transfer of filing fees to the
Commission's lockbox depository: March 20, 1997
_______________________________________________________
____________
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SIGNATURES
This report has been signed below by the following
persons on behalf of the issuer and in the capacities
and on the dates indicated.
By ____________________________
Leslie L. Ogg
Vice President, General Counsel and Secretary
Date: March 21, 1997
EXHIBIT INDEX
(b)(10) OPINION OF COUNSEL
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March 21, 1997
IDS Market Advantage Series, Inc.
IDS Tower 10
Minneapolis, Minnesota 55440-0010
Gentlemen:
I have examined the Articles of Incorporation and the
By-Laws of the Company and all necessary certificates,
permits, minute books, documents and records of the
Company, and the applicable statutes of the State of
Minnesota, and it is my opinion:
(a) That the Company is a corporation duly organized
and existing under the laws of the State of
Minnesota with an authorized capital stock of
10,000,000,000 shares, all of $.01 par value, that
such shares may be issued as full or fractional
shares and that on January 31, 1997, 143,852,477
shares were issued and outstanding;
(b) That all such authorized shares are, under the
laws of the State of Minnesota, redeemable as
provided in the Articles of Incorporation of the
Company and upon redemption shall have the status
of authorized and unissued shares;
(c) That the Company registered on August 30, 1989 an
indefinite number of shares pursuant to Rule 24f-2
and is herewith filing a Rule 24f-2 Notice
covering the shares during its Fiscal Period ended
January 31, 1997; and
(d) That shares which were sold at not less than their
par value and in accordance with applicable
federal and state securities laws were legally
issued, fully paid and nonassessable.
I hereby consent that the foregoing opinion may be used
in connection with the Rule 24f-2 Notice.
Very truly yours,
Leslie L. Ogg
Attorney at Law
901 Marquette Ave. S., Suite 2810
Minneapolis, Minnesota 55402-3268
