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000 C000000 0000858998
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001 A000000 THE GROWTH FUND OF SPAIN, INC.
001 B000000 811-6022
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002 C000000 IL
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008 B000001 A
008 C000001 801-6634
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008 A000002 BSN GESTION DE PATRIMONIOS, S.A., S.G.C.
008 B000002 S
008 C000002 801-36291
008 D010002 MADRID
008 D050002 SPAIN
008 D060002 23006
012 A000001 ZURICH KEMPER SERVICE COMPANY
012 B000001 84-1713
012 C010001 KANSAS CITY
012 C020001 MO
012 C030001 64105
<PAGE> PAGE 2
013 A000001 ERNST & YOUNG LLP
013 B010001 CHICAGO
013 B020001 IL
013 B030001 60606
014 A000001 ZURICH KEMPER DISTRIBUTORS, INC.
014 B000001 8-47765
014 A000002 GRUNTAL SECURITIES, INC.
014 B000002 8-31022
014 A000003 THE GMS GROUP, INC.
014 B000003 8-23936
015 A000001 INVESTORS FIDUCIARY TRUST COMPANY
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<PAGE> PAGE 4
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SIGNATURE JEROME L. DUFFY
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
1997 SEMI ANNUAL REPORT TO SHAREHOLDERS AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000858998
<NAME> GROWTH FUND OF SPAIN, INC.
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1997
<PERIOD-START> DEC-01-1996
<PERIOD-END> MAY-31-1997
<INVESTMENTS-AT-COST> 184,474
<INVESTMENTS-AT-VALUE> 279,464
<RECEIVABLES> 758
<ASSETS-OTHER> 10,607
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 290,829
<PAYABLE-FOR-SECURITIES> 2,871
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 251
<TOTAL-LIABILITIES> 3,122
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 183,648
<SHARES-COMMON-STOCK> 16,545
<SHARES-COMMON-PRIOR> 16,840
<ACCUMULATED-NII-CURRENT> 1,590
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 9,265
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 93,204
<NET-ASSETS> 287,707
<DIVIDEND-INCOME> 2,939
<INTEREST-INCOME> 399
<OTHER-INCOME> 0
<EXPENSES-NET> (1,549)
<NET-INVESTMENT-INCOME> 1,789
<REALIZED-GAINS-CURRENT> 9,794
<APPREC-INCREASE-CURRENT> 32,686
<NET-CHANGE-FROM-OPS> 44,269
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,854)
<DISTRIBUTIONS-OF-GAINS> (13,931)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> (295)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 23,772
<ACCUMULATED-NII-PRIOR> 2,654
<ACCUMULATED-GAINS-PRIOR> 13,403
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,320
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,549
<AVERAGE-NET-ASSETS> 264,715
<PER-SHARE-NAV-BEGIN> 15.67
<PER-SHARE-NII> .11
<PER-SHARE-GAIN-APPREC> 2.61
<PER-SHARE-DIVIDEND> (.17)
<PER-SHARE-DISTRIBUTIONS> (.83)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 17.39
<EXPENSE-RATIO> 1.17
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
Exhibit 77C
The Growth Fund of Spain, Inc.
Form N-SAR for the period ended 05/31/97
File No. 811-6022
An annual meeting of Registrant's shareholders was held on May
29, 1997. Votes regarding the following item submitted to
shareholder vote are set forth below.
Amend the Fund's Articles of Incorporation to eliminate
the Fund's current staggered system of electing directors.
Vote Number
---- -----------
FOR 6,507,893
AGAINST 219,958
ABSTAIN 98,067
LKW|W:\FUNDS\NSAR.EXH\GSP\GSP-597.77C|070897
