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SECURITIES AND EXCHANGE COMMISSION
FORM 13F-E
Report for the Calendar Year or Quarter Ended: 03/31/97
Institutional Investment Manager:
EVANGELICAL LUTHERAN CHURCH OF AMERICA BOARD OF PEN
800 MARQUETTE AVE.
SUITE 1050
MINNEAPOLIS MN 55402-0000
I represent that I am authorized to submit this form and that
all information in this form and the attachments to it are true,
correct and complete and I understand that all required items,
statements and schedules are integral parts of this form and that
the submission of any amendment represents that all unamended
items, statements and schedules remain true, correct and complete
as previously submitted.
I am signing this report as required by the Securities Exchange
Act of 1934
Name, Title and Telephone Number of Person Submitting Report:
KATHLEEN A. RADCLIFFE CONTROLLER 612-333-7651
Signature, Place and Date of Signing:
/s/ KATHLEEN A. RADCLIFFE MINNEAPOLIS MN 05/02/97
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VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
AMERADA HESS CORP COM 023551104 4733 89300 SH SOLE 89300
AMERICAN EXPRESS CO COM 025816109 2221 37100 SH SOLE 37100
AMERICAN GENERAL CORP COM 026351106 6679 163900 SH SOLE 163900
AMERITECH CORP NEW COM 030954101 3847 62800 SH SOLE 62800
AMP INC COM 031897101 5864 170600 SH SOLE 170600
ASHLAND INC COM 044204105 3796 94300 SH SOLE 94300
BANKERS TRUST N Y CORP COM 066365107 6642 81000 SH SOLE 81000
BEVERLY ENTERPRISES INC COM 087851101 3405 236900 SH SOLE 236900
BROWNING FERRIS INDS COM 115885105 3427 118700 SH SOLE 118700
CIPSCO INC COM 125539106 1718 48400 SH SOLE 48400
COMPUTER SCIENCES CORP COM 205363104 2435 39200 SH SOLE 39200
COOPER INDS INC COM 216669101 6168 142200 SH SOLE 142200
DAYTON HUDSON CORP COM 239753106 3524 84400 SH SOLE 84400
DENTSPLY INTL INC NEW COM 249030107 3845 76900 SH SOLE 76900
DONNELLEY R R & SONS CO COM 257867101 3700 106100 SH SOLE 106100
DOW CHEM CO COM 260543103 3011 37700 SH SOLE 37700
DU PONT E I DE NEMOURS & CO COM 263534109 2936 27700 SH SOLE 27700
ELECTRONIC DATA SYS NEW COM 285661104 2070 51600 SH SOLE 51600
ENERGY GROUP PLC SPONSORED ADR 292691102 1869 58175 SH SOLE 58175
ENTERGY CORP NEW COM 29364G103 4366 178200 SH SOLE 178200
GENERAL MTRS CORP COM 370442105 5582 100800 SH SOLE 100800
GENERAL RE CORP COM 370563108 5609 35500 SH SOLE 35500
GENERAL SIGNAL CORP COM 370838104 4554 116400 SH SOLE 116400
GIDDINGS & LEWIS INC WIS COM 375048105 3857 259300 SH SOLE 259300
HANSON PLC SPNSRD ADR NEW 411352404 1323 58175 SH SOLE 58175
HUMANA INC COM 444859102 5911 268700 SH SOLE 268700
INCO LTD COM 453258402 3778 115800 SH SOLE 115800
INTERNATIONAL MULTIFOODS CORP COM 460043102 1568 76500 SH SOLE 76500
LIMITED INC COM 532716107 6055 329500 SH SOLE 329500
MALLINCKRODT INC NEW COM 561232109 5498 133700 SH SOLE 133700
MANPOWER INC COM 56418H100 5177 143800 SH SOLE 143800
MARSH & MCLENNAN COS INC COM 571748102 4202 37100 SH SOLE 37100
MASCO CORP COM 574599106 4161 116400 SH SOLE 116400
MAY DEPT STORES CO COM 577778103 5992 131700 SH SOLE 131700
MOTOROLA INC COM 620076109 5524 91300 SH SOLE 91300
NELLCOR PURITAN BENNET INC COM 640275103 1965 111500 SH SOLE 111500
NORFOLK SOUTHERN CORP COM 655844108 5413 63500 SH SOLE 63500
NORTHN STS PWR CO MINN COM 665772109 4174 88100 SH SOLE 88100
PNC BK CORP COM 693475105 5872 146800 SH SOLE 146800
PACIFICORP COM 695114108 6214 292400 SH SOLE 292400
PENNEY J C INC COM 708160106 5825 122300 SH SOLE 122300
PHILLIPS PETE CO COM 718507106 6581 161000 SH SOLE 161000
PROVIDIAN CORP COM 744061102 3082 57600 SH SOLE 57600
PUBLIC SVC ENTERPRISE GROUP COM 744573106 4961 189000 SH SOLE 189000
SAFECO CORP COM 786429100 4464 111600 SH SOLE 111600
SNAP ON INC COM 833034101 3247 83800 SH SOLE 83800
SOUTHERN CO COM 842587107 5395 255400 SH SOLE 255400
SOUTHERN NEW ENGLAND TELECOM COM 843485103 1790 49900 SH SOLE 49900
SUN INC COM 866762107 3979 152300 SH SOLE 152300
SUPERVALU INC COM 868536103 5528 185800 SH SOLE 185800
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VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
THOMAS & BETTS CORP COM 884315102 5352 125200 SH SOLE 125200
WHIRLPOOL CORP COM 963320106 4391 92200 SH SOLE 92200
XEROX CORP COM 984121103 4305 75700 SH SOLE 75700
REPORT SUMMARY 53 DATA RECORDS 227585 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
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