GREAT AMERICAN RESERVE VARIABLE ANNUITY ACCOUNT E
24F-2NT, 1996-02-23
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                     U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   Form 24F-2
                        Annual Notice of Securities Sold
                             Pursuant to Rule 24f-2

                     Read instruction at end of Form before
                         preparing Form. Please print or
                                      type.

 1.      Name and address of issuer:

                  Great American Reserve Variable Annuity Account E
                  11815 N. Pennsylvania Street
                  Carmel, IN  46032

 2.      Name of each series or class of funds for which this notice is filed:

                  Individual and Group Variable Deferred Annuity Contracts

 3.      Investment Company Act File Number:         811-8288

         Securities Act File Number:                 33-74092

 4.      Last day of fiscal year for which this notice is filed:

                  12/31/95

 5.      Check box if this  notice is being  filed  more than 180 days after the
         close of the issuer's fiscal year for purposes of reporting  securities
         sold after the close of the fiscal year but before  termination  of the
         issuer's 24f-s declaration:

                  Not applicable

 6.      Date of termination of issuer's declaration under rule 24f-2(a)(1), if
         applicable (see instruction A.6):

                  Not applicable

 7.      Number and amount of  securities  of the same class or series which had
         been registered under the Securities Act of 1933 other than pursuant to
         rule 24f-2 in a prior fiscal  year,  but which  remained  unsold at the
         beginning of the fiscal year:

                  0

 8.      Number and amount of securities registered during the fiscal year other
         than pursuant to rule 24f-2:

                  0


<PAGE>



 9.      Number and aggregate sale price of securities sold during the fiscal 
         year:

                  4,795,887         $5,180,882

10.      Number and aggregate sale price of securities sold during the fiscal 
         year in reliance upon registration pursuant to Rule 24f-2:

                  4,795,887         $5,180,882

11.      Number and aggregate sale price of securities  issued during the fiscal
         year in connection with dividend reinvestment plans, if applicable (see
         Instruction B.7):

                  Included in 9 above

12.      Calculation of registration fee:

         (i)      Aggregate sale price of securities sold during the fiscal
                  year in reliance on rule 24f-2 (from Item 10):              
                                $          5,180,882
                                --------------------

          (ii)    Aggregate price of shares issued in connection with
                  dividend reinvestment plans (from Item 11, if applicable)   
                                +                    0
                                ----------------------

         (iii)    Aggregate price of shares redeemed or repurchased
                  during the fiscal year (if applicable):                     
                                -             214,502
                                ---------------------

         (iv)     Aggregate price of shares redeemed or repurchased and
                  previously applied as a reduction to filing fees
                  pursuant to rule 24e-2 (if applicable):                      
                               +                    0
                                ----------------------

          (v)     Net aggregate  price of securities  sold and issued during the
                  fiscal year in  reliance  on rule 24f-w  [line (i),  plus line
                  (ii), less line (iii), plus
                  line (iv)] (if applicable):
                                             4,966,380

          (vi)    Multiplier prescribed by section 6(b) of the Securities
                  Act of 1933 or other applicable law or regulation
                  (see Instruction C.6):                                       

                               x           .0003448

        (vii)     Fee due [line (i) or line (v) multiplied by line (vi)]:
                               $               1,713
                               =====================

          Instruction: Issuers should complete lines (ii), (iii), (iv),
          and (v) only if the form is being filed within 60 days after
                   the close of the issuer's fiscal year. See
                                Instruction C.3.

13.      Check  box if fees  are  being  remitted  to the  Commission's  lockbox
         depository  as  described  in section 3a of the  Commission's  Rules of
         Informal and Other Procedures (17 CFR 202.3a).

                                    X



         Date of mailing or wire  transfer  of filing  fees to the  Commission's
lockbox depository:

                  2/20/96

G:\LEGAL\SEC\24F2.GAE

<PAGE>


                                   SIGNATURES

         This report has been signed below by the following persons on behalf of
         the issuer and in the capacities and on the dates indicated:

         By (Signature and Title)* /s/ Karl W. Kindig
                                   --------------------------------------
                                   Senior Vice President of Great American
                                   Reserve Insurance Company, Depositor
Date:   2/20/96

  *Please print the name and title of the signing officer below the signature.



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