<PAGE> PAGE 1
000 A000000 06/30/95
000 C000000 0000916764
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000 F000000 Y
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000 J000000 A
001 A000000 LEXINGTON EMERGING MARKETS FUND, INC.
001 B000000 811-8250
001 C000000 2018457300
002 A000000 PARK 80 WEST PLAZA TWO
002 B000000 SADDLE BROOK
002 C000000 NJ
002 D010000 07663
003 000000 Y
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011 B000001 8-24850
011 C010001 SADDLE BROOK
011 C020001 NJ
011 C030001 07663
012 A000001 STATE STREET BANK AND TRUST COMPANY C/O NFDS
012 B000001 84-1078
012 C010001 KANSAS CITY
<PAGE> PAGE 2
012 C020001 MO
012 C030001 64105
013 A000001 KPMG PEAT MARWICK LLP
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10154
014 A000001 LEXINGTON FUNDS DISTRIBUTOR, INC.
014 B000001 8-24850
015 A000001 CHASE MANHATTAN BANK N.A.
015 B000001 C
015 C010001 BROOKLYN
015 C020001 NY
015 C030001 11245
015 E040001 X
018 000000 Y
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019 C000000 :LEXINGTON
020 A000001 BARING SECURITIES, INC.
020 B000001 04-2455153
020 C000001 4
020 A000002 W.I. CARR (AMERICA) LTD.
020 B000002 13-2927466
020 C000002 4
020 A000003 SMITH NEW COURT SECURITIES, INC.
020 B000003 13-3169769
020 C000003 3
020 A000004 WERTHEIM SCHRODER & COMPANY, INC.
020 B000004 13-2697272
020 C000004 3
020 A000005 GOLDMAN SACHS & COMPANY
020 B000005 13-5108880
020 C000005 3
020 A000006 WORLDSEC INTERNATIONAL SECURITIES, INC.
020 C000006 2
020 A000007 LEHMAN BROTHERS INC.
020 B000007 13-2518466
020 C000007 2
020 A000008 SWISS BANKCORP
020 B000008 13-2639550
020 C000008 1
020 A000009 MERRILL LYNCH & COMPANY INC.
020 B000009 13-5674085
020 C000009 1
020 A000010 PEREGRINE BROKERAGE LTD.
020 C000010 1
021 000000 38
022 A000001 MERRILL LYNCH, PIERCE, FENNER, SMITH
022 B000001 13-5674085
022 C000001 2486
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<PAGE> PAGE 3
022 A000002 STATE STREET BANK & TRUST
022 B000002 04-1867445
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022 A000003 FLEMMING MARTIN
022 B000003 13-3724403
022 C000003 36
022 D000003 61
022 A000004 S.G. WARBURG & CO.
022 B000004 13-3340045
022 C000004 79
022 D000004 0
022 A000005 GOLDMAN SACHS & CO.
022 B000005 13-5108880
022 C000005 75
022 D000005 0
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022 C000006 44
022 D000006 8
022 A000007 SHEARSON LEHMAN
022 B000007 13-2518466
022 C000007 39
022 D000007 0
022 A000008 ROBERT FLEMMING
022 B000008 13-3298866
022 C000008 32
022 D000008 0
022 A000009 BARING SECURITIES
022 B000009 04-2455153
022 C000009 0
022 D000009 25
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022 B000010 13-3299429
022 C000010 24
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<PAGE> PAGE 4
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<PAGE> PAGE 6
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SIGNATURE PETER CORNIOTES
TITLE ASSISTANT SECRETARY
For period ending 06-30-95
File Number 811 - 8250
77(C) Matters submitted to a vote of security holders.
a. Annual meeting of shareholders - April 19, 1995
b. Matters voted on and number of affirmative/negative votes:
1. Election of Directors: Robert M. DeMichele, Beverley C. Duer,
Barbara R. Evans, Lawrence Kantor, Donald B. Miller,
Francis Olmsted, John G. Preston, Margaret W. Russell,
Philip C. Smith, and Francis A. Sunderland
For All Directors: 472,775 Withheld Authority: 12,729
2. Ratification of the selection of KPMG Peat Marwick LLP as the
independent auditors for the Fund for the fiscal year ending
December 31, 1995.
Votes: For Against Abstain
450,749 28,062 13,282
3. Approval of an amendment to the Fund's fundamental investment
restriction concerning senior securities.
Votes: For Against Abstain
426,520 10,120 55,452
4. Approval of an amendment to the Fund's fundamental investment
restriction concerning borrowing.
Votes: For Against Abstain
378,647 92,181 21,265
5. Approval of the elimination of the Fund's fundamental investment
restriction concerning its ability to pledge, mortgage or
hypothecate.
Votes: For Against Abstain
377,936 88,461 25,696
6. Approval of an amendment to the Fund's fundamental investment
restriction concerning underwriting.
Votes: For Against Abstain
398,812 37,791 55,490
7. Approval of an amendment to the Fund's fundamental investment
restriction concerning real estate.
Votes: For Against Abstain
403,200 69,721 19,172
8. Approval an amendment to the Fund's fundamental investment
restriction concerning lending.
Votes: For Against Abstain
383,083 51,477 57,532
9. Approval of the elimination of the Fund's fundamental investment
restriction concerning joint trading accounts.
Votes: For Against Abstain
381,079 53,469 57,544
10. Approval of an amendment to the Fund's fundamental investment
restriction concerning commodities.
Votes: For Against Abstain
382,621 54,020 55,452
11. Approval of the elimination to the Fund's fundamental investment
restriction concerning margin and short sales.
Votes: For Against Abstain
374,930 93,560 23,603
12. Approval of an amendment to the Fund's fundamental investment
restriction concerning concentration.
Votes: For Against Abstain
421,463 15,786 57,596
13. Approval of the separation of the Fund's fundamental investment
restriction concerning diversification and securities of
affiliates.
Votes: For Against Abstain
385,899 50,716 55,478
14. Approval of the elimination of the Fund's fundamental investment
restriction concerning securities of other investment companies.
Votes: For Against Abstain
394,493 35,573 62,027
15. Approval of the elimination of the Fund's fundamental investment
restriction concerning securities of issuers in operation for
less than three (3) years.
Votes: For Against Abstain
378,643 55,892 57,558
16. Approval of the elimination of the Fund's fundamental investment
restriction concerning investment for control.
Votes: For Against Abstain
398,670 35,700 57,723
17. Approval of the elimination of the Fund's fundamental investment
restriction concerning warrants.
Votes: For Against Abstain
374,720 88,164 29,210
18. Approval of the elimination of the Fund's fundamental investment
restriction concerning restricted and illiquid securities.
Votes: For Against Abstain
372,710 92,736 26,647
19. Approval of the elimination of the Fund's fundamental investment
restriction concerning investment in oil, gas and minerals.
Votes: For Against Abstain
416,872 55,111 20,110
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
The Schedule contains summary financial information extracted from semi-annual
financial statements dated June 30, 1995 and is qualified in its entirety by
reference to such financial statements.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 6,350,563
<INVESTMENTS-AT-VALUE> 6,475,471
<RECEIVABLES> 170,362
<ASSETS-OTHER> 106,204
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 6,752,037
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 24,063
<TOTAL-LIABILITIES> 24,063
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 6,995,354
<SHARES-COMMON-STOCK> 686,619
<SHARES-COMMON-PRIOR> 469,015
<ACCUMULATED-NII-CURRENT> 55,784
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (448,142)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 124,978
<NET-ASSETS> 6,727,974
<DIVIDEND-INCOME> 62,594
<INTEREST-INCOME> 36,865
<OTHER-INCOME> (8,634)
<EXPENSES-NET> 35,387
<NET-INVESTMENT-INCOME> 55,438
<REALIZED-GAINS-CURRENT> (361,879)
<APPREC-INCREASE-CURRENT> 352,833
<NET-CHANGE-FROM-OPS> 2,104,158
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 403,719
<NUMBER-OF-SHARES-REDEEMED> (186,115)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 2,057,766
<ACCUMULATED-NII-PRIOR> 346
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (86,264)
<GROSS-ADVISORY-FEES> 22,792
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 105,813
<AVERAGE-NET-ASSETS> 5,384,035
<PER-SHARE-NAV-BEGIN> 9.86
<PER-SHARE-NII> .08
<PER-SHARE-GAIN-APPREC> (.14)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
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<PER-SHARE-NAV-END> 9.80
<EXPENSE-RATIO> 1.32
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
