ELCA BOARD OF PENSIONS
13F-E, 1999-01-27
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                       SECURITIES AND EXCHANGE COMMISSION                                                                         
                                   FORM 13F-E                                                                                     
                                                                                                                                  
                                                                                                                                  
Report for the Calendar Year or Quarter Ended:    12/31/98                                                                        
                                                                                                                                  
                                                                                                                                  
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    01/25/99                                                    
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
<PAGE>      PAGE   2                                                                                                              
                                                           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     6204   124700 SH       SOLE                 124700        0        0
AMERICAN EXPRESS CO            COM              025816109     6550    63900 SH       SOLE                  63900        0        0
AMERICAN GENERAL CORP          COM              026351106     7644    98000 SH       SOLE                  98000        0        0
AMERITECH CORP NEW             COM              030954101     9696   153000 SH       SOLE                 153000        0        0
ANHEUSER BUSCH COS INC         COM              035229103     5736    87400 SH       SOLE                  87400        0        0
BANCWEST CORP NEW              COM              059790105     3360    70000 SH       SOLE                  70000        0        0
BANK ONE CORP                  COM              06423A103    11337   222030 SH       SOLE                 222030        0        0
BURLINGTON NORTHN SANTA FE CP  COM              12189T104     9210   268900 SH       SOLE                 268900        0        0
BURLINGTON RES INC             COM              122014103     7284   203400 SH       SOLE                 203400        0        0
COLUMBIA/HCA HEALTHCARE CORP   COM              197677107     8692   351200 SH       SOLE                 351200        0        0
COMPUTER SCIENCES CORP         COM              205363104     6676   103900 SH       SOLE                 103900        0        0
DENTSPLY INTL INC NEW          COM              249030107     3618   140500 SH       SOLE                 140500        0        0
DONNELLEY R R & SONS CO        COM              257867101     8561   195400 SH       SOLE                 195400        0        0
DOW CHEM CO                    COM              260543103     7893    86800 SH       SOLE                  86800        0        0
EASTMAN KODAK CO               COM              277461109     5652    78500 SH       SOLE                  78500        0        0
EMERSON ELEC CO                COM              291011104     8161   134900 SH       SOLE                 134900        0        0
ENTERGY CORP NEW               COM              29364G103     3010    96700 SH       SOLE                  96700        0        0
FIRST DATA CORP                COM              319963104     9422   295600 SH       SOLE                 295600        0        0
GENERAL MTRS CORP              COM              370442105     3185    44500 SH       SOLE                  44500        0        0
GRAINGER W W INC               COM              384802104     7767   186600 SH       SOLE                 186600        0        0
HUMANA INC                     COM              444859102     6054   339900 SH       SOLE                 339900        0        0
INCO LTD                       COM              453258402     4129   395600 SH       SOLE                 395600        0        0
INTL PAPER CO                  COM              460146103     3262    72800 SH       SOLE                  72800        0        0
MALLINCKRODT INC NEW           COM              561232109     7022   227900 SH       SOLE                 227900        0        0
MANPOWER INC                   COM              56418H100     5743   228000 SH       SOLE                 228000        0        0
MAY DEPT STORES CO             COM              577778103     8489   140600 SH       SOLE                 140600        0        0
MINNESOTA MNG & MFG CO         COM              604059105     7831   110100 SH       SOLE                 110100        0        0
MORGAN J P & CO INC            COM              616880100     5715    54400 SH       SOLE                  54400        0        0
MORTON INTL INC IND NEW        COM              619335102     4390   179200 SH       SOLE                 179200        0        0
MOTOROLA INC                   COM              620076109    11358   186000 SH       SOLE                 186000        0        0
NORTHN STS PWR CO MINN         COM              665772109     5875   211700 SH       SOLE                 211700        0        0
PNC BK CORP                    COM              693475105    10411   192800 SH       SOLE                 192800        0        0
PACIFICORP                     COM              695114108     7062   335300 SH       SOLE                 335300        0        0
PENNEY J C INC                 COM              708160106     5939   126700 SH       SOLE                 126700        0        0
PHILLIPS PETE CO               COM              718507106     8602   201800 SH       SOLE                 201800        0        0
PUBLIC SVC ENTERPRISE GROUP    COM              744573106     4868   121700 SH       SOLE                 121700        0        0
SAFECO CORP                    COM              786429100     8648   201400 SH       SOLE                 201400        0        0
ST PAUL COS INC                COM              792860108     9281   266600 SH       SOLE                 266600        0        0
SILICON GRAPHICS INC           COM              827056102     8019   622800 SH       SOLE                 622800        0        0
SNAP ON INC                    COM              833034101     4341   124700 SH       SOLE                 124700        0        0
SOUTHERN CO                    COM              842587107     3935   135400 SH       SOLE                 135400        0        0
SUPERVALU INC                  COM              868536103     4878   174200 SH       SOLE                 174200        0        0
THOMAS & BETTS CORP            COM              884315102     8870   204800 SH       SOLE                 204800        0        0
TOYS R US INC                  COM              892335100     3819   225500 SH       SOLE                 225500        0        0
WELLS FARGO & CO NEW           COM              949746101     7017   175700 SH       SOLE                 175700        0        0
WHIRLPOOL CORP                 COM              963320106     5294    95600 SH       SOLE                  95600        0        0
WORTHINGTON INDS INC           COM              981811102     3461   276900 SH       SOLE                 276900        0        0
REPORT SUMMARY                 47 DATA RECORDS              313971            0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED    
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