FLAG INVESTORS EQUITY PARTNERS FUND INC
NSAR-A, 1999-01-29
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<PAGE>      PAGE  1
000 A000000 11/30/98
000 C000000 0000933402
000 D000000 N
000 E000000 NF
000 F000000 Y
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000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 FLAG INVESTORS EQUITY PARTNERS FUND, INC.
001 B000000 811-8886
001 C000000 4107271700
002 A000000 1 SOUTH STREET
002 B000000 BALTIMORE
002 C000000 MD
002 D010000 21202
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008 D030001 21202
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<PAGE>      PAGE  2
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012 C020001 MD
012 C030001 21202
013 A000001 PRICEWATERHOUSECOOPERS L.L.P.
013 B010001 BALTIMORE
013 B020001 MD
013 B030001 21202
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015 B000001 C
015 C010001 NEW YORK
015 C020001 NY
015 C030001 10006
015 E010001 X
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019 C000000 FLAGINVEST
020 A000001 BEAR, STEARNS & CO., INC.
020 B000001 13-3299429
020 C000001     25
020 A000002 BERSTIEN (SNAFORD C.) & CO., INC.
020 B000002 13-2625874
020 C000002     17
020 A000003 OPENHEIMER & CO., INC.
020 B000003 13-2798343
020 C000003     13
020 A000004 PAINEWEBBER, INC.
020 B000004 1323816629
020 C000004     12
020 A000005 CS FIRST BOSTON INC.
020 B000005 13-5659485
020 C000005     10
020 A000006 MORGAN STANLEY & CO., INC.
020 B000006 13-2655998
020 C000006      7
020 A000007 GOLDMAN SACHS & CO.
020 B000007 13-5108880
020 C000007      7
020 A000008 MORGAN (J.P.) SECURITIES INC.
020 B000008 13-3224016
020 C000008      6
020 A000009 LEHMANN BROTHERS INC.
020 B000009 13-2518466
020 C000009      5
020 A000010 DONALDSO, LUFKIN & JENRETTE SECURITIES CORP
020 B000010 13-2741729
020 C000010      5
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SIGNATURE   EDWARD J. VEILLEUX                           
TITLE       VICE PRESIDENT      
 

WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000933402
<NAME> FLAG INVESTORS EQUITY PARTNERS FUND CLASS A
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1999
<PERIOD-END>                               NOV-30-1998
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<INVESTMENTS-AT-VALUE>                     348,594,714
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<NET-CHANGE-FROM-OPS>                        6,468,264
<EQUALIZATION>                                       0
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<EXPENSE-RATIO>                                   1.20
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000933402
<NAME> FLAG INVESTORS EQUITY PARTNERS FUND CLASS B
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1999
<PERIOD-END>                               NOV-30-1998
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000933402
<NAME> FLAG INVESTORS EQUITY PARTNERS FUND INSTITUTIONAL CLASS
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000933402
<NAME> FLAG INVESTORS EQUITY PARTNERS FUND CLASS C
       
<S>                             <C>
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<FISCAL-YEAR-END>                          MAY-31-1999
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</TABLE>


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