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<PAGE> PAGE 13
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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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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<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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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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015 A000701 UMB BANK, N.A.
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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<PAGE> PAGE 37
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<PAGE> PAGE 38
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<PAGE> PAGE 39
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<PAGE> PAGE 40
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<PAGE> PAGE 41
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070 G020800 N
070 H010800 Y
070 H020800 N
070 I010800 N
070 I020800 N
070 J010800 Y
070 J020800 Y
070 K010800 Y
070 K020800 N
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070 L020800 Y
070 M010800 Y
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<PAGE> PAGE 42
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<PAGE> PAGE 43
076 000800 0.00
SIGNATURE THEODORE W. HOWARD
TITLE V.P. & TREASURER
<TABLE> <S> <C>
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<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE SEMIANNUAL REPORT
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</LEGEND>
<CIK> 0000883622
<NAME> WADDELL & REED FUNDS, INC.
<SERIES>
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<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE SEMIANNUAL REPORT
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<CIK> 0000883622
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<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE SEMIANNUAL REPORT
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</LEGEND>
<CIK> 0000883622
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<SERIES>
<NUMBER> 3
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE SEMIANNUAL REPORT
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</LEGEND>
<CIK> 0000883622
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<SERIES>
<NUMBER> 4
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<S> <C>
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE SEMIANNUAL REPORT
TO SHAREHOLDERS DATED SEPTEMBER 30, 1999 AND IS QUALIFIED IN ITS ENTIRETY BY
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</LEGEND>
<CIK> 0000883622
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<SERIES>
<NUMBER> 5
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<MULTIPLIER> 1,000
<S> <C>
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<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-END> SEP-30-1999
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<NET-INVESTMENT-INCOME> (381)
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE SEMIANNUAL REPORT
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</LEGEND>
<CIK> 0000883622
<NAME> WADDELL & REED FUNDS, INC.
<SERIES>
<NUMBER> 6
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<MULTIPLIER> 1,000
<S> <C>
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE SEMIANNUAL REPORT
TO SHAREHOLDERS DATED SEPTEMBER 30, 1999 AND IS QUALIFIED IN ITS ENTIRETY BY
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</LEGEND>
<CIK> 0000883622
<NAME> WADDELL & REED FUNDS, INC.
<SERIES>
<NUMBER> 7
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<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-END> SEP-30-1999
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE SEMIANNUAL REPORT
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</LEGEND>
<CIK> 0000883622
<NAME> WADDELL & REED FUNDS, INC.
<SERIES>
<NUMBER> 8
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<S> <C>
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<PERIOD-END> SEP-30-1999
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<INTEREST-INCOME> 1,182
<OTHER-INCOME> 0
<EXPENSES-NET> (313)
<NET-INVESTMENT-INCOME> 869
<REALIZED-GAINS-CURRENT> (768)
<APPREC-INCREASE-CURRENT> (908)
<NET-CHANGE-FROM-OPS> (801)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (869)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 629
<NUMBER-OF-SHARES-REDEEMED> (522)
<SHARES-REINVESTED> 88
<NET-CHANGE-IN-ASSETS> 246
<ACCUMULATED-NII-PRIOR> 0
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<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 83
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 313
<AVERAGE-NET-ASSETS> 26,019
<PER-SHARE-NAV-BEGIN> 9.94
<PER-SHARE-NII> .32
<PER-SHARE-GAIN-APPREC> (.61)
<PER-SHARE-DIVIDEND> (.32)
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<EXPENSE-RATIO> 2.40
</TABLE>
EX-99.B-77C
WADDELL & REED FUNDS, INC.
SUB-ITEM 77C: Submission of matters to a vote of security
holders:
(a) A Special Meeting of Shareholders was held June 22, 1999.
(b) Auditors were approved.
(c) Matters voted upon at the Special Meeting:
Item 1. To elect the Board of Directors:
Broker
For Withhold Non-Votes*
J. Concannon 42,388,448 4,430,588 0
J. Dillingham 42,407,564 4,411,472 0
D. Gardner 42,379,766 4,439,270 0
L. Graves 42,362,538 4,456,498 0
J. Harroz Jr. 42,343,391 4,475,645 0
J. Hayes 42,336,292 4,482,744 0
R. Hechler 42,377,128 4,441,908 0
H. Herrmann 42,375,876 4,443,160 0
G. Johnson 42,341,135 4,477,901 0
W. Morgan 42,398,841 4,420,195 0
R. Reimer 42,356,739 4,462,297 0
F. Ross 42,406,695 4,412,341 0
E. Schwartz 42,376,747 4,442,289 0
K. Tucker 42,396,023 4,423,013 0
F. Vogel 42,384,521 4,434,515 0
Item 2. To ratify the selection of Deloitte & Touche LLP as the Fund's
independent accountants for its current fiscal year:
Broker
For Against Abstain Non-Votes*
41,810,901 374,728 4,633,407 0
Item 3. To approve or disapprove the amendment to the Fund's investment
management agreement with Waddell & Reed Investment Management Company:
Broker
For Against AbstainNon-Votes*
Asset Strategy Fund 1,275,265 20,746 71,955 0
Growth Fund 11,978,168 527,306 2,082,801 18,533
High Income Fund 1,045,982 42,604 169,226 0
International Growth
Fund 2,657,538 111,495 446,329 61
Limited-Term Bond
Fund 975,829 54,390 29,064 0
Municipal Bond Fund 1,890,271 38,967 123,008 0
Science and Technology
Fund 974,611 38,559 223,890 0
Total Return Fund 19,490,423 755,093 1,776,922 0
Item 4. To approve or disapprove amendment of the Fund's policy regarding
securities lending:
Broker
For Against AbstainNon-Votes*
Asset Strategy Fund 1,269,313 23,212 75,442 0
Growth Fund 11,975,126 371,476 2,241,674 18,533
High Income Fund 1,070,554 12,933 174,325 0
International Growth
Fund 2,641,795 96,050 477,516 61
Limited-Term Bond
Fund 992,314 32,237 34,732 0
Municipal Bond Fund 0 0 0 0
Science and Technology
Fund 975,807 22,716 238,537 0
Total Return Fund 19,435,429 567,557 2,019,452 0
Item 5. To approve or disapprove the Fund's Articles of Incorporation to
change the par value of Fund shares to $0.001:
Broker
For Against Abstain Non-Votes*
39,643,495 1,159,005 6,016,536 0
*Broker non-votes are proxies received by the Fund from brokers or nominees when
the broker or nominee neither has received instructions from the beneficial
owner or other persons entitled to vote nor has discretionary power to vote on
a particular matter.
EX-99.B-77I
WADDELL & REED FUNDS, INC.
SUB-ITEM 77I
(a) and (b): Terms of New or Amended Securities
The Fund has three classes of shares. Prior to October 4,
1999, the Fund offered only two classes of shares to the
public. Shares outstanding on that date were designated as
Class B shares and Class Y shares. As of October 4, 1999,
the Fund also offers Class C shares. Class C shares have a
1% deferred sales charge on shares sold within twelve months
and are subject to a 0.25% service charge and a 0.75%
distribution charge.
Each share (regardless of class) has one vote. All shares
of the Fund vote together as a single class, except as to
any matter for which a separate vote of any class is
required by the Investment Company Act of 1940, and except
as to any matter which affects the interests of one
particular classes, in which case only the shareholders of
the affected class are entitled to vote, as a separate
class. Shares are fully paid and nonassessable when
purchased. The addition of the Class C shares had no effect
on the rights of the existing shareholders.
EX-99.B-77Q1(a)(d)
WADDELL & REED FUNDS, INC.
SUB-ITEM 77Q1 Exhibits
(a) and (d)
Articles Supplementary filed by EDGAR on July 2, 1999, as
Exhibit EX-99.B(a)wrartsup to Post-Effective Amendment No.
13 to the Registration Statement on Form N-1A (incorporated
by reference herein).
EX-99.B-77Q1(e)
WADDELL & REED FUNDS, INC.
SUB-ITEM 77Q1(e) Changes to the registrant's investment
advisory contract:
EXHIBIT A TO INVESTMENT MANAGEMENT AGREEMENT
FEE SCHEDULE
A cash fee computed each day on net asset value for each Fund at the annual
rates listed below:
Waddell & Reed Asset Strategy Fund
Net Assets Fee
Up to $1 billion 0.70% of net assets
Over $1 billion and up to $2 billion 0.65% of net assets
Over $2 billion and up to $3 billion 0.60% of net assets
Over $3 billion 0.55% of net assets
Waddell & Reed Growth Fund
Net Assets Fee
Up to $1 billion 0.85% of net assets
Over $1 billion and up to $2 billion 0.83% of net assets
Over $2 billion and up to $3 billion 0.80% of net assets
Over $3 billion 0.76% of net assets
Waddell & Reed High Income Fund
Net Assets Fee
Up to $500 million 0.625% of net assets
Over $500 million and up to $1 billion 0.60% of net assets
Over $1 billion and up to $1.5 billion 0.55% of net assets
Over $1.5 billion 0.50% of net assets
Waddell & Reed International Growth Fund
Net Assets Fee
Up to $1 billion 0.85% of net assets
Over $1 billion and up to $2 billion 0.83% of net assets
Over $2 billion and up to $3 billion 0.80% of net assets
Over $3 billion 0.76% of net assets
Waddell & Reed Limited-Term Bond Fund
Net Assets Fee
Up to $500 million 0.50% of net assets
Over $500 million and up to $1 billion 0.45% of net assets
Over $1 billion and up to $1.5 billion 0.40% of net assets
Over $1.5 billion 0.35% of net assets
Waddell & Reed Municipal Bond Fund
Net Assets Fee
Up to $500 million 0.525% of net assets
Over $500 million and up to $1 billion 0.50% of net assets
Over $1 billion and up to $1.5 billion 0.45% of net assets
Over $1.5 billion 0.40% of net assets
Waddell & Reed Science and Technology Fund
Net Assets Fee
Up to $1 billion 0.85% of net assets
Over $1 billion and up to $2 billion 0.83% of net assets
Over $2 billion and up to $3 billion 0.80% of net assets
Over $3 billion 0.76% of net assets
Waddell & Reed Total Return Fund
Net Assets Fee
Up to $1 billion 0.70% of net assets
Over $1 billion and up to $2 billion 0.65% of net assets
Over $2 billion and up to $3 billion 0.60% of net assets
Over $3 billion 0.55% of net assets
