<PAGE> PAGE 1
000 A000000 02/29/96
000 C000000 0000919898
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 THE CZECH REPUBLIC FUND, INC.
001 B000000 811-8398
001 C000000 8004214777
002 A000000 200 LIBERTY STREET
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10281
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 ADVANTAGE ADVISERS, INC.
008 B000001 A
008 C000001 801-36997
008 D010001 NEW YORK
008 D020001 NY
008 D030001 10281
008 A000002 QUEST FOR VALUE ADVISORS
008 B000002 A
008 C000002 801-27180
008 D010002 NEW YORK
008 D020002 NY
008 D030002 10281
008 A000003 BAI FONDSBERATUNG GMBH
008 B000003 A
008 C000003 801-000000
008 D010003 VIENNA
008 D050003 AUSTRIA
010 A000001 OPPENHEIMER & CO., INC.
010 B000001 8-10574
<PAGE> PAGE 2
010 C010001 NEW YORK
010 C020001 NY
010 C030001 10281
011 A000001 OPPENHEIMER & CO., INC.
011 B000001 8-10574
011 C010001 NEW YORK
011 C020001 NY
011 C030001 10281
012 A000001 STATE STREET BANK AND TRUST COMPANY
012 B000001 85-05003
012 C010001 BOSTON
012 C020001 MA
012 C030001 02110
013 A000001 PRICE WATERHOUSE L.L.P.
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10036
015 A000001 STATE STREET BANK AND TRUST COMPANY
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02110
015 E040001 X
018 000000 Y
019 A000000 N
019 B000000 0
020 A000001 CREDITANSTALT
020 B000001 00-0000000
020 C000001 25
020 A000002 CS FIRST BOSTON
020 B000002 00-0000000
020 C000002 21
020 A000003 PATRIA FINANCE
020 B000003 00-0000000
020 C000003 52
020 A000004 NOMURA INTERNATIONAL
020 B000004 13-2642206
020 C000004 8
020 A000005 ZIVNOSTENSKA BANKA A.S.
020 B000005 00-0000000
020 C000005 6
020 A000006 SMITH NEWCOURT FAR EAST LTD.
020 B000006 13-3169769
020 C000006 5
020 A000007 ATLANTIK-PRAGUE
020 B000007 00-0000000
020 C000007 16
020 A000008 BLEICHRODER
020 B000008 00-0000000
020 C000008 8
020 A000009 BARING SECURITIES
<PAGE> PAGE 3
020 B000009 04-2455153
020 C000009 9
020 A000010 MERRILL LYNCH
020 B000010 13-5674085
020 C000010 18
021 000000 170
022 A000001 HSBC SECURITIES
022 B000001 00-0000000
022 C000001 25881
022 D000001 0
022 A000002 FIRST CHICAGO
022 B000002 36-3595942
022 C000002 1149
022 D000002 0
022 A000003 CESKOSLOVENSKA
022 B000003 00-0000000
022 C000003 32290
022 D000003 0
022 A000004 G.X. CLARKE & CO.
022 B000004 00-0000000
022 C000004 3196
022 D000004 0
022 A000005 STATE STREET BANK & TRUST CO.
022 B000005 04-1867445
022 C000005 3183
022 D000005 0
022 A000006 MERRILL LYNCH
022 B000006 13-5674085
022 C000006 261
022 D000006 0
022 A000007 MC SECURITIES
022 B000007 00-0000000
022 C000007 459
022 D000007 0
022 A000008 CS FIRST BOSTON
022 B000008 00-0000000
022 C000008 240
022 D000008 0
022 A000009 CREDITANSTALT
022 B000009 00-0000000
022 C000009 125
022 D000009 0
022 A000010 MORGEN GRENFELL
022 B000010 00-0000000
022 C000010 1023
022 D000010 0
023 C000000 68327
023 D000000 0
024 000000 N
025 D000001 0
025 D000002 0
<PAGE> PAGE 4
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 N
028 A010000 0
028 A020000 0
028 A030000 0
028 A040000 0
028 B010000 0
028 B020000 0
028 B030000 0
028 B040000 0
028 C010000 0
028 C020000 0
028 C030000 0
028 C040000 0
028 D010000 0
028 D020000 0
028 D030000 0
028 D040000 0
028 E010000 0
028 E020000 0
028 E030000 0
028 E040000 0
028 F010000 0
028 F020000 0
028 F030000 0
028 F040000 0
028 G010000 0
028 G020000 0
028 G030000 0
028 G040000 0
028 H000000 0
030 A000000 0
030 B000000 0.00
030 C000000 0.00
031 A000000 0
031 B000000 0
032 000000 0
<PAGE> PAGE 5
033 000000 0
035 000000 0
036 B000000 0
038 000000 0
042 A000000 0
042 B000000 0
042 C000000 0
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 0
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 1.000
048 A010000 0
048 A020000 0.000
048 B010000 0
048 B020000 0.000
048 C010000 0
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 0
048 K020000 0.000
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
<PAGE> PAGE 6
054 G000000 Y
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 N
054 M000000 Y
054 N000000 N
054 O000000 N
055 A000000 N
055 B000000 N
056 000000 Y
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 N
060 B000000 N
061 000000 0
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 0.0
066 A000000 Y
066 B000000 N
066 C000000 Y
066 D000000 N
066 E000000 N
066 F000000 N
066 G000000 N
067 000000 N
068 A000000 N
068 B000000 Y
069 000000 N
070 A010000 Y
070 A020000 N
<PAGE> PAGE 7
070 B010000 Y
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 Y
070 K020000 Y
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 Y
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 N
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 15906
071 B000000 15269
071 C000000 57655
071 D000000 26
072 A000000 6
072 B000000 89
072 C000000 52
072 D000000 0
072 E000000 0
072 F000000 303
072 G000000 61
072 H000000 0
072 I000000 11
072 J000000 69
072 K000000 0
072 L000000 26
072 M000000 15
<PAGE> PAGE 8
072 N000000 0
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 35
072 S000000 45
072 T000000 0
072 U000000 30
072 V000000 0
072 W000000 65
072 X000000 660
072 Y000000 0
072 Z000000 -519
072AA000000 2189
072BB000000 0
072CC010000 6204
072CC020000 0
072DD010000 859
072DD020000 0
072EE000000 0
073 A010000 0.1950
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 1601
074 B000000 0
074 C000000 0
074 D000000 0
074 E000000 0
074 F000000 62693
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 604
074 K000000 0
074 L000000 16926
074 M000000 196
074 N000000 82020
074 O000000 698
074 P000000 64
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 426
074 S000000 0
074 T000000 80832
074 U010000 5878
074 U020000 0
074 V010000 13.75
074 V020000 0.00
<PAGE> PAGE 9
074 W000000 0.0000
074 X000000 244
074 Y000000 0
075 A000000 0
075 B000000 60908
076 000000 14.00
077 A000000 N
078 000000 N
080 A000000 GULF INS. CO.
080 C000000 500
081 A000000 N
081 B000000 0
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
087 A010000 COMMON STOCK
087 A020000 232845107
087 A030000 CRF
088 A000000 N
088 B000000 N
088 C000000 N
088 D000000 N
SIGNATURE WENDY MCGEE
TITLE LEGAL ASSISTANT
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000919898
<NAME> THE CZECH REPUBLIC FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 59424999
<INVESTMENTS-AT-VALUE> 62692984
<RECEIVABLES> 17529697
<ASSETS-OTHER> 196193
<OTHER-ITEMS-ASSETS> 1601284
<TOTAL-ASSETS> 82020158
<PAYABLE-FOR-SECURITIES> 698601
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 439806
<TOTAL-LIABILITIES> 1138407
<SENIOR-EQUITY> 5878
<PAID-IN-CAPITAL-COMMON> 76625124
<SHARES-COMMON-STOCK> 5878047
<SHARES-COMMON-PRIOR> 4407134
<ACCUMULATED-NII-CURRENT> (219616)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1166126
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3254239
<NET-ASSETS> 80881751
<DIVIDEND-INCOME> 51851
<INTEREST-INCOME> 89289
<OTHER-INCOME> 0
<EXPENSES-NET> 660529
<NET-INVESTMENT-INCOME> (519389)
<REALIZED-GAINS-CURRENT> 2189219
<APPREC-INCREASE-CURRENT> 6203738
<NET-CHANGE-FROM-OPS> 7873568
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 859391
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1470913
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 23001720
<ACCUMULATED-NII-PRIOR> 1159164
<ACCUMULATED-GAINS-PRIOR> (1023093)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 302875
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 660529
<AVERAGE-NET-ASSETS> 60907844
<PER-SHARE-NAV-BEGIN> 13.13
<PER-SHARE-NII> (0.10)
<PER-SHARE-GAIN-APPREC> 1.85
<PER-SHARE-DIVIDEND> (0.20)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.76
<EXPENSE-RATIO> 2.18
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
