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<PAGE> PAGE 2
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<PAGE> PAGE 3
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SIGNATURE ALAN M. MANDEL
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000907608
<NAME> MUNICIPAL PARTNERS FUND II INC.
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 119,178,271
<INVESTMENTS-AT-VALUE> 125,224,792
<RECEIVABLES> 2,114,154
<ASSETS-OTHER> 83,255
<OTHER-ITEMS-ASSETS> 57,104
<TOTAL-ASSETS> 127,479,305
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 162,216
<TOTAL-LIABILITIES> 162,216
<SENIOR-EQUITY> 45,000,000
<PAID-IN-CAPITAL-COMMON> 83,250,152
<SHARES-COMMON-STOCK> 6,007,094
<SHARES-COMMON-PRIOR> 6,007,094
<ACCUMULATED-NII-CURRENT> 643,745
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (7,623,329)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 6,046,521
<NET-ASSETS> 82,317,089<F1>
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7,471,040
<OTHER-INCOME> 0
<EXPENSES-NET> 1,138,584
<NET-INVESTMENT-INCOME> 6,332,456
<REALIZED-GAINS-CURRENT> 61,017
<APPREC-INCREASE-CURRENT> 4,445,059
<NET-CHANGE-FROM-OPS> 10,838,532
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 6,149,741<F2>
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 4,688,791
<ACCUMULATED-NII-PRIOR> 461,030
<ACCUMULATED-GAINS-PRIOR> (7,684,346)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 750,006
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,138,584
<AVERAGE-NET-ASSETS> 80,110,524
<PER-SHARE-NAV-BEGIN> 12.92
<PER-SHARE-NII> 1.05
<PER-SHARE-GAIN-APPREC> .75
<PER-SHARE-DIVIDEND> 1.02<F3>
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.70
<EXPENSE-RATIO> 1.42<F4>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Applicable to common stock.
<F2>Including preferred dividends of $1,665,445.
<F3>Including preferred dividends of $.28 per common share.
<F4>Excluding preferred dividends of 2.08%.
</FN>
</TABLE>
August 8, 1997
To the Shareholders and Board of
Directors ofMunicipal Partners
Fund II Inc.In planning and performing
our audit of the financial statements of
Municipal Partners Fund II Inc. (the "Fund")
for the year ended June 30, 1997, we considered
its internal control, including control activities
for safeguarding securities, in order to determine
our auditing procedures for the purpose of
expressing our opinion on the financial statements
and to comply with the requirements of Form
N-SAR, not to provide assurance on internal
control.The management of the Fund is responsible
for establishing and maintaining internal control.
In fulfilling this responsibility, estimates and
judgments by management are required to assess
the expected benefits and related costs of control
activities. Generally, control activities that are
relevant to an audit pertain to the entity's objective
of preparing financial statements for external
purposes that are fairly presented in conformity
with generally accepted accounting principles.
Those control activities include the safeguarding
of assets against unauthorized acquisition, use or
disposition.Because of inherent limitations in
internal control, errors or irregularities may occur
and not be detected. Also, projection of any
evaluation of internal control to future periods is
subject to the risk that it may become inadequate
because of changes in conditions or that the
effectiveness of the design and operation may
deteriorate.Our consideration of internal control
would not necessarily disclose all matters in internal
control that might be material weaknesses under
standards established by the American Institute of
Certified Public Accountants. A material weakness
is a condition in which the design or operation of
any specific internal control components does not
reduce to a relatively low level the risk that errors
or irregularities in amounts that would be material
in relation to the financial statements being audited
may occur and not be detected within a timely period
by employees in the normal course of performing
their assigned functions. However, we noted no
matters involving internal control, including control
activities for safeguarding securities, that we consider
to be material weaknesses as defined above as of
June 30, 1997.This report is intended solely for the
information and use of management and the Board
of Directors of the Fund and the Securities and
Exchange Commission.
PRICE WATERHOUSE LLP
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