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<PAGE> PAGE 2
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<PAGE> PAGE 8
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<PAGE> PAGE 11
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<PAGE> PAGE 15
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<PAGE> PAGE 17
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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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<PAGE> PAGE 34
008 D040703 0001
015 A000701 CHASE MANHATTAN BANK, N.A.
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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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SIGNATURE AMY J. LEE
TITLE SECRETARY
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<NAME> SECURITY INCOME FUND
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