Form 24F-2

1.      Name and address of issuer:

        AXP Variable Portfolio - Investment Series, Inc.
        200 AXP Financial Center
        Minneapolis, MN 55474

2.      The memo 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 of
        classes):

            [x]

3.      Investment Company Act File Number:

        811-3218

        Securities Act File Number:

        2-73115

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

        August 31, 2003

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).

           [  ]

4(c).   Check box if this is the last time the issuer will be filing this Form.

           [  ]

5.      Calculation of registration fee:

(i).    Aggregate sale price of securities sold
        during the fiscal year pursuant to section 24(f):                  $0.00

(ii).   Aggregate price of securities redeemed or
        repurchased during the fiscal year:                                $0.00

(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:                $0.00

(iv).   Total available redemption credits (add Items 5(ii)
        and 5(iii):                                                        $0.00

(v).    Net sales -- if item 5(i) is greater than item 5(iv)
        [subtract item 5(iv) from item 5(i)]:                              $0.00

(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)]:                              $0.00

(vii).  Multiplier for determining registration fee                    $0.000081

(viii). Registration fee due (multiply item 5(v) by item
        5(vii) (enter "0" if no fee is due):                               $0.00
                                                                      ==========


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 (effective date of
       rescission of rule 24e-2), then report the amount of securities
       (number of shares or other units) deducted here: __0__. 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 __0__ .

7.     Interest due - if this Form is being filed more than
       90 days after the end of the issuer's fiscal year:                 $0.00

8.     Total of the amount of the registration fee due plus
       any interest due [line 5(viii) plus line 7]:                       $0.00

9.     Date the registration fee and any interest payment was sent to the
       Commission's lockbox depository:

       Method of Delivery:

           [  ]        Wire Transfer
           [  ]        Mail or other means


       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/ Jeffrey P. Fox
                                                       -------------------
                                                           Jeffrey P. Fox
                                                           Treasurer

         Date                                              October 28, 2003


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