<PAGE> PAGE 1
000 A000000 04/30/98
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<PAGE> PAGE 2
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<PAGE> PAGE 8
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 16
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<PAGE> PAGE 19
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SIGNATURE JOHN FLANAGAN
TITLE TREASURER
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<CIK> 0000901539
<NAME> "Strong Conservative Equity Funds, Inc."
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