U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20594

                                   FORM 24F-2
                        Annual Notice of Securities Sold
                             Pursuant to Rule 24f-2

             Read instructions at end of form before preparing form.
                              Please print or type.


1.   Name and address of issuer:
     Fundamental Investors, Inc.
     P.O. Box 7650
     San Francisco, CA 94120

2.   Name of each  series or class of funds for which  this  notice 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

3.   Investment Company Act File Number:      811-32
     Securities Act File Number:              2-10760

4(a). Last day of fiscal year for which this Form is filed:
      December 31, 2003

4(b)._ Check  box if this  notice  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.

5.   Calculation of registration fee:

       (i)  Aggregate sale price of securities sold during
            the fiscal year pursuant to section 24(f):           $2,603,210,000

       (ii) Aggregate price of securities redeemed or
            repurchased during the fiscal year:                  $2,642,595,000

       (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

       (iv) Total available redemption credits [add
            items 5(ii) and 5(iii)]:                             $2,642,595,000

       (v)  Net sales -- if Item 5(i) is greater than
            Item 5(iv) [subtract Item 5(iv) from Item 5(i)]:                 $0

      (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)]:                  $(39,385,000)

     (vii)  Multiplier for determining registration fee
            (See Instruction C.9):                                   x .0001267

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


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:  __________ 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:_________


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):
                                                                   +$_________


8.   Total of the amount of the registration fee due plus any interest due [line
     5(viii) plus line 7]:
                                                                          =$0

9.   Date  the  registration  fee  and  any  interest  payment  was  sent to the
     Commission's lockbox depository:
     CIK #39473

     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/ Patrick F. Quan
                                    Patrick F. Quan
                                    Secretary

       Date   March 5, 2004


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