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<PAGE> PAGE 12
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053 C000400 N
055 A000400 N
055 B000400 N
056 000400 Y
057 000400 N
058 A000400 Y
058 B000400 Y
058 C000400 N
058 D000400 N
058 E000400 N
059 000400 Y
060 A000400 Y
060 B000400 Y
061 000400 0
066 A000400 Y
066 C000400 Y
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
<PAGE> PAGE 20
070 A010400 Y
070 A020400 Y
070 B010400 Y
070 B020400 N
070 C010400 N
070 C020400 N
070 D010400 Y
070 D020400 N
070 E010400 Y
070 E020400 N
070 F010400 Y
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 N
070 L010400 Y
070 L020400 Y
070 M010400 Y
070 M020400 N
070 N010400 Y
070 N020400 Y
070 O010400 Y
070 O020400 Y
070 P010400 Y
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400 3151
071 B000400 1168
071 C000400 1431
071 D000400 82
072 A000400 8
072 B000400 7
072 C000400 3
072 D000400 0
072 E000400 0
072 F000400 14
072 G000400 0
072 H000400 0
072 I000400 0
072 J000400 3
072 K000400 0
<PAGE> PAGE 21
072 L000400 0
072 M000400 5
072 N000400 0
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 12
072 S000400 4
072 T000400 0
072 U000400 0
072 V000400 0
072 W000400 6
072 X000400 44
072 Y000400 26
072 Z000400 -8
072AA000400 0
072BB000400 218
072CC010400 89
072CC020400 0
072DD010400 0
072DD020400 0
072EE000400 0
073 A010400 0.0000
073 A020400 0.0000
073 B000400 0.0000
073 C000400 0.0000
074 A000400 0
074 B000400 145
074 C000400 0
074 D000400 0
074 E000400 0
074 F000400 1854
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 4
074 K000400 0
074 L000400 0
074 M000400 1
074 N000400 2004
074 O000400 19
074 P000400 16
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 23
074 S000400 0
074 T000400 1946
074 U010400 210
074 U020400 0
<PAGE> PAGE 22
074 V010400 9.28
074 V020400 0.00
074 W000400 0.0000
074 X000400 1
074 Y000400 0
075 A000400 0
075 B000400 1758
076 000400 0.00
SIGNATURE KAREN JACOPPO-WOOD
TITLE VP/ASST SECRETARY
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>021
<NAME> MONTGOMERY III VARIABLE SERIES EMERGING MARKETS
<S> <C>
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<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
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<INVESTMENTS-AT-VALUE> 70,357,681
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<ACCUM-APPREC-OR-DEPREC> (14,082,310)
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<NET-INVESTMENT-INCOME> 0
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<APPREC-INCREASE-CURRENT> (13,755,951)
<NET-CHANGE-FROM-OPS> (42,210,519)
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<DISTRIBUTIONS-OF-INCOME> (139,238)
<DISTRIBUTIONS-OF-GAINS> 0
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<NUMBER-OF-SHARES-SOLD> 8,125,454
<NUMBER-OF-SHARES-REDEEMED> (8,035,427)
<SHARES-REINVESTED> 21,354
<NET-CHANGE-IN-ASSETS> (42,514,085)
<ACCUMULATED-NII-PRIOR> 0
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<OVERDISTRIB-NII-PRIOR> (59,612)
<OVERDIST-NET-GAINS-PRIOR> (9,869,888)
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<GROSS-EXPENSE> 1,584,684
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<PER-SHARE-GAIN-APPREC> (4.02)
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<TABLE> <S> <C>
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<SERIES>
<NUMBER> 031
<NAME> MONTGOMERY III VARIABLE SERIES INTL SMALL CAP
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<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
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<OTHER-ITEMS-LIABILITIES> 40,473
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<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 629,674
<SHARES-COMMON-STOCK> 125
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<ACCUMULATED-NII-CURRENT> 11,110
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<NET-ASSETS> 992
<DIVIDEND-INCOME> 28,043
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<EXPENSES-NET> 1,001
<NET-INVESTMENT-INCOME> 41,740
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<NET-CHANGE-FROM-OPS> (2,600)
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<NUMBER-OF-SHARES-SOLD> 415,388
<NUMBER-OF-SHARES-REDEEMED> (667,670)
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<ACCUMULATED-GAINS-PRIOR> (22,961)
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<PER-SHARE-NII> 0.17
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 011
<NAME> MONTGOMERY III VARIABLE SERIES GROWTH
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 12,515,381
<INVESTMENTS-AT-VALUE> 13,391,992
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<TOTAL-LIABILITIES> 97,319
<SENIOR-EQUITY> 0
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<OVERDISTRIBUTION-GAINS> 0
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<NET-ASSETS> 13,451,635
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<NUMBER-OF-SHARES-SOLD> 683,115
<NUMBER-OF-SHARES-REDEEMED> (652,075)
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<ACCUMULATED-NII-PRIOR> 1,035
<ACCUMULATED-GAINS-PRIOR> 2,380
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
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<INTEREST-EXPENSE> 479
<GROSS-EXPENSE> 198,144
<AVERAGE-NET-ASSETS> 14,135,877
<PER-SHARE-NAV-BEGIN> 15.09
<PER-SHARE-NII> 0.09
<PER-SHARE-GAIN-APPREC> 0.35
<PER-SHARE-DIVIDEND> (0.06)
<PER-SHARE-DISTRIBUTIONS> (0.08)
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<PER-SHARE-NAV-END> 15.39
<EXPENSE-RATIO> 1.25
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<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<SERIES>
<NUMBER>041
<NAME>Montgomery Variable series Small Cap Opprotunities
<S> <C>
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<PERIOD-END> DEC-31-1998
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<SHARES-COMMON-PRIOR> 200,000
<ACCUMULATED-NII-CURRENT> (7,526)
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<NET-ASSETS> 1,945,603
<DIVIDEND-INCOME> 2,821
<INTEREST-INCOME> 7,347
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<EXPENSES-NET> 17,694
<NET-INVESTMENT-INCOME> (7,526)
<REALIZED-GAINS-CURRENT> (217,717)
<APPREC-INCREASE-CURRENT> 89,461
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<PER-SHARE-NAV-BEGIN> 10.00
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</TABLE>
