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Form 24F-2
Annual Notice of Securities Sold Pursuant to Rule 24F-2
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2
Read instructions at end of Form before preparing Form.
1. Name and address of issuer: Flag Investors Real Estate Securities
Fund, Inc.,
One South Street, Baltimore, MD 21202
2. The name of each series or class of securities for which this Form is
filed. (If the Form is being filed for all series and classes of
securities of the issuer, check the box but do not list series or
classes): |X|
3. Investment Company Act File Number: 811-8500
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Securities Act File Number: 33-78648
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4(a). Last day of fiscal year for which this Form is filed: December 31, 1998
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4(b).[] Check box if this Form is being filed late (i.e., more than 90
calendar days after the end of the issuer's fiscal year).
(See Instruction A.2.)
N/A
Note: If the Form is being filed late, interest must be paid on the
registration fee due.
4(c).[] Check box if this is the last time the issuer will be filing this Form.
N/A
5. Calculation of registration fee:
(i) Aggregate sale price of securities sold during the
fiscal year pursuant to section 24(f): $18,774,214.00
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(ii) Aggregate price of securities redeemed or
repurchased during the fiscal year: $14,115,495.00
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(iii) Aggregate price of securities redeemed
or repurchased during any prior fiscal
year ending no earlier than October 11,
1995 that were not previously used to
reduce registration fees payable to the
Commission: $ 0.00
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(iv) Total available redemption credits [add
Items 5(ii) and 5(iii)]: -$14,115,495.00
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(v) Net sales -- if Item 5(i) is greater than
Item 5(iv) [subtract Item 5(iv) from
Item 5(i)]: $ 4,658,719.00
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(vi) Redemption credits available for use in future
years -- if Item 5(i) is less than Item 5(iv)
[subtract Item 5(iv) from Item 5(i)]: $( 0.00)
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(vii) Multiplier for determining registration
fee (See Instruction C.9): x .000278
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(viii) Registration fee due [multiply Item 5(v)
by Item 5(vii)] (enter "0" if no
fee is due): =$ 1,295.12
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6. Prepaid Shares
If the response to Item 5(i) was determined by deducting an amount of
securities that were registered under the Securities Act of 1933 pursuant to
rule 24e-2 as in effect before October 11, 1997, then report the amount of
securities (number of shares or other units) deducted here: N/A. If there is
a number of shares or other units that were registered pursuant to rule 24e-2
remaining unsold at the end of the fiscal year for which this form is filed
that are available for use by the issuer in future fiscal years, then state
that number here: N/A.
7. Interest due -- if this Form is being filed more than 90 days after the end
of the issuer's fiscal year (see Instruction D): N/A
+$ 0.00
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8. Total of the amount of the registration fee due plus any interest due [line
5(viii) plus line 7]: =$ 1,295.12
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9. Date the registration fee and any interest payment was sent to the
Commission's lockbox depository: March 25, 1999
Method of Delivery:
[X] Wire Transfer
[ ] Mail or other means
SIGNATURES
This report has been signed below by the following person on behalf of the
issuer and in the capacities and on the dates indicated.
By (Signature and Title)* /s/ Joseph A. Finelli
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Joseph A. Finelli, Treasurer
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*Please print the name and title of the signing officer below the signature.
Date: March 25, 1999
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FLAG INVESTORS REAL ESTATE SECURITIES FUND, INC.
SCHEDULE A
<TABLE>
<CAPTION>
VALUE OF AGGREGATE
SHARES AGGREGATE SALES DRP DRP SHARES REDEMPTION
CLASS SOLD PRICE SHARES SHARES REDEEMED PRICE
- ------ ------- --------------- ------- ------------- --------- --------------
<S> <C> <C> <C> <C> <C> <C>
Flag A 913,519 $12,595,105.00* 173,588 $2,258,875.00 878,163 $11,380,062.00
Flag B 189,158 2,735,502.00 34,739 449,966.00 188,973 2,520,889.00
Institutional 47,072 703,400.00 2,477 31,366.00 18,105 214,544.00
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1,149,749 $16,034,007.00* 210,804 $2,740,207.00 1,085,241 $14,115,495.00
</TABLE>
* Includes front-end sales commissions of $147,191.00 on Class A Shares
Computation of fee: $18,774,214.00 - $14,115,495.00 = $4,658,719.00
$4,658,719.00 x .000278 = $1,295.12
Fee Required $1,295.12
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