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.



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1.       Name and address of issuer:

                  The AAL Mutual Funds
                  222 West College Avenue
                  Appleton, WI  54919-0007

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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/

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3.   Investment Company Act File Number:            811-5075

     Securities Act File Number:                    033-12911

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4(a) Last day of fiscal year for which this Form is filed:     4/30/98


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)

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.
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5.   Calculation of registration fee:

     (i)      Aggregate sale price of securities sold
              during the fiscal year pursuant to
              section 24(f):                           $1,461,837,560

     (ii)     Aggregate price of securities redeemed
              or repurchased during the fiscal year:   $765,152,067

     (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:                          $--

     (iv)     Total available redemption credits [add
              Items 5(ii) and 5(iii):                  $765,152,067

     (v)      Net sales -- if Item 5(i) is  greater  than Item  5(iv)  [subtract
              Item 5(iv)from Item 5(i)]:               $696,685,493

      (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)]:                         $(
                                                       ------
                                                        )

     (vii)    Multiplier for determining registration fee 
              (See Instruction C.9):                    x.000295

     (viii)   Registration  fee due [multiply  Item 5(v) by Item 5(vii)]
              (enter "0" if no fee is due):             $205,522.22

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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:  _________ .
     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: _________ .

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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):
                                                        +$0
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8.   Total of the amount of the registration fee due plus any interest due [line
     5(viii) plus line 7]:
                                                        $205,522.22
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9.  Date  the  registration  fee  and  any  interest  payment  was  sent to the
     Commission's lockbox depository: 07/27/98

                Method of Delivery:

                           /X/ Wire Transfer

                           / / Mail or other means


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                                 SIGNATURES

This  report has been  signed  below by the  following  persons on behalf of the
issuer and in the capacities and on the dates indicated.

By (Signature and Title)*: /s/Joseph F. Wreschnig
                           Joseph F. Wreschnig, Assistant Secretary
                           The AAL Mutual Funds

Date:    7/28/98

     *  Please print the name and title of the signing officer below the
                                 signature.