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SECURITIES AND EXCHANGE COMMISSION
FORM 13F-E
Report for the Calendar Year or Quarter Ended: 03/31/98
Institutional Investment Manager:
EVANGELICAL LUTHERAN CHURCH IN 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 04/22/98
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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 7388 126700 SH SOLE 126700 0 0
AMEREN CORP COM 023608102 2755 65407 SH SOLE 65407 0 0
AMERICAN EXPRESS CO COM 025816109 2966 32300 SH SOLE 32300 0 0
AMERICAN GENERAL CORP COM 026351106 8325 128700 SH SOLE 128700 0 0
AMERITECH CORP NEW COM 030954101 5977 120900 SH SOLE 120900 0 0
AMP INC COM 031897101 8272 188800 SH SOLE 188800 0 0
ANHEUSER BUSCH COS INC COM 035229103 6947 150200 SH SOLE 150200 0 0
BANC ONE CORP COM 059438101 8281 130930 SH SOLE 130930 0 0
BANKERS TRUST N Y CORP COM 066365107 7123 59200 SH SOLE 59200 0 0
BARD C R INC COM 067383109 7967 216800 SH SOLE 216800 0 0
BURLINGTON NORTHN SANTA FE CP COM 12189T104 6292 60500 SH SOLE 60500 0 0
BURLINGTON RES INC COM 122014103 8097 168900 SH SOLE 168900 0 0
COLUMBIA/HCA HEALTHCARE CORP COM 197677107 7376 228700 SH SOLE 228700 0 0
COMPUTER SCIENCES CORP COM 205363104 6237 113400 SH SOLE 113400 0 0
COOPER INDS INC COM 216669101 7031 118300 SH SOLE 118300 0 0
DENTSPLY INTL INC NEW COM 249030107 3293 105600 SH SOLE 105600 0 0
DONNELLEY R R & SONS CO COM 257867101 6365 155000 SH SOLE 155000 0 0
DOW CHEM CO COM 260543103 5349 55000 SH SOLE 55000 0 0
EMERSON ELEC CO COM 291011104 7907 121300 SH SOLE 121300 0 0
ENTERGY CORP NEW COM 29364G103 7670 257800 SH SOLE 257800 0 0
FIRST DATA CORP COM 319963104 7209 221800 SH SOLE 221800 0 0
FIRST HAWAIIAN INC COM 320506108 3228 80700 SH SOLE 80700 0 0
GENERAL MTRS CORP COM 370442105 3448 50900 SH SOLE 50900 0 0
GENERAL RE CORP COM 370563108 7082 32100 SH SOLE 32100 0 0
GENERAL SIGNAL CORP COM 370838104 6187 132700 SH SOLE 132700 0 0
GRAINGER W W INC COM 384802104 4935 48000 SH SOLE 48000 0 0
HUMANA INC COM 444859102 6898 278000 SH SOLE 278000 0 0
INCO LTD COM 453258402 5795 310100 SH SOLE 310100 0 0
INTL PAPER CO COM 460146103 5700 121600 SH SOLE 121600 0 0
MALLINCKRODT INC NEW COM 561232109 7414 187700 SH SOLE 187700 0 0
MANPOWER INC COM 56418H100 6299 156000 SH SOLE 156000 0 0
MAY DEPT STORES CO COM 577778103 5480 86300 SH SOLE 86300 0 0
MORGAN J P & CO INC COM 616880100 4070 30300 SH SOLE 30300 0 0
MOTOROLA INC COM 620076109 9161 150800 SH SOLE 150800 0 0
NORTHN STS PWR CO MINN COM 665772109 3988 67600 SH SOLE 67600 0 0
PNC BK CORP COM 693475105 8307 138600 SH SOLE 138600 0 0
PACIFICORP COM 695114108 4866 197600 SH SOLE 197600 0 0
PENNEY J C INC COM 708160106 6426 84900 SH SOLE 84900 0 0
PHILLIPS PETE CO COM 718507106 8589 172000 SH SOLE 172000 0 0
PUBLIC SVC ENTERPRISE GROUP COM 744573106 6614 175200 SH SOLE 175200 0 0
SAFECO CORP COM 786429100 8466 154900 SH SOLE 154900 0 0
SILICON GRAPHICS INC COM 827056102 6020 431900 SH SOLE 431900 0 0
SNAP ON INC COM 833034101 4594 100700 SH SOLE 100700 0 0
SOUTHERN CO COM 842587107 8068 291400 SH SOLE 291400 0 0
SUPERVALU INC COM 868536103 4649 99700 SH SOLE 99700 0 0
THOMAS & BETTS CORP COM 884315102 6618 103400 SH SOLE 103400 0 0
TOYS R US INC COM 892335100 4227 140300 SH SOLE 140300 0 0
WELLS FARGO & CO DEL COM 949740104 3876 11700 SH SOLE 11700 0 0
WHIRLPOOL CORP COM 963320106 5660 82400 SH SOLE 82400 0 0
WORTHINGTON INDS INC COM 981811102 3438 189700 SH SOLE 189700 0 0
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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
REPORT SUMMARY 50 DATA RECORDS 308930 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
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