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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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SIGNATURE KENNETH D. GASKINS, ESQ.
TITLE SECRETARY
<TABLE> <S> <C>
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<LEGEND>
KIEWIT MUTUAL FUND
</LEGEND>
<CIK> 0000927413
<NAME> KIEWIT MUTUAL FUND
<SERIES>
<NUMBER> 1
<NAME> KIEWIT MONEY MARKET PORTFOLIO
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KIEWIT MUTUAL FUND
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<CIK> 0000927413
<NAME> KIEWIT MUTUAL FUND
<SERIES>
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<NAME> KIEWIT SHORT-TERM GOVERNMENT PORTFOLIO
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KIEWIT MUTUAL FUND
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<NAME> KIEWIT MUTUAL FUND
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<NAME> KIEWIT INTERMEDIATE-TERM BOND PORTFOLIO
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<LEGEND>
KIEWIT MUTUAL FUND
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<CIK> 0000927413
<NAME> KIEWIT MUTUAL FUND
<SERIES>
<NUMBER> 4
<NAME> KIEWIT TAX-EXEMPT PORTFOLIO
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KIEWIT MUTUAL FUND
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<CIK> 0000927413
<NAME> KIEWIT
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<NAME> KIEWIT EQUITY PORTFOLIO
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