SMALL CAP EQUITY PORTFOLIO
N-8A, 1995-03-30
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          SECURITIES AND EXCHANGE COMMISSION
                           
                Washington, D.C.  20549
                           
                       FORM N-8A
                           
             NOTIFICATION OF REGISTRATION
                           
         FILED PURSUANT TO SECTION 8(a) OF THE
            INVESTMENT COMPANY ACT OF 1940
                           


     The undersigned investment company hereby notifies
the Securities and Exchange Commission that it
registers under and pursuant to the provisions of
Section 8(a) of the Investment Company Act of 1940 and
in connection with such notification of registration
submits the following information:

Name:

          Small Cap Equity Portfolio, a series of
          The Premium Portfolios

Address of Principal Business Office:

          Elizabethan Square, George Town
          Grand Cayman, Cayman Islands BWI

Telephone Number:   (809) 945-1824

Name and address of agent for service of process:

          Susan Jakuboski
          Elizabethan Square, George Town
          Grand Cayman, Cayman Islands BWI

Check Appropriate Box:

     Registrant is filing a Registration Statement
     pursuant to Section 8(b) of the Investment Company
     Act of 1940 concurrently with the filing of Form N-
     8A; YES[X] NO[ ]

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                       Signature


     Pursuant to the requirements of the Investment
Company Act of 1940, the Registrant has caused this
notification of registration to be duly signed on
its behalf in George Town, Grand Cayman, Cayman
Islands, BWI on the 29th day of March, 1995.

                         THE PREMIUM PORTFOLIOS


                         By:     Susan Jakuboski
                             Susan Jakuboski,
                             Assistant Treasurer

Attest:  Tamie Ebanks
       Name:  Tamie Ebanks
       Title:




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