As filed with the Securities and Exchange Commission
on December 10, 1999
Registration No. 33-97598,  811-9102


          SECURITIES AND EXCHANGE COMMISSION
               Washington, DC  20549

                    FORM N-1A

           REGISTRATION STATEMENT UNDER THE
             SECURITIES ACT OF 1933            [X]
           Post-Effective Amendment No. 14     [X]

                      and

            REGISTRATION STATEMENT UNDER
         THE INVESTMENT COMPANY ACT OF 1940    [X]
                 Amendment No. 16              [X]

          (Check appropriate box or boxes)

               WEBS INDEX FUND, INC.
  (Exact name of registrant as specified in charter)


    c/o PFPC Inc.                          19809
    400 Bellevue Parkway                 (Zip Code)
    Wilmington, Delaware
(Address of Principal Executive Offices)

   Registrant's Telephone Number, including Area Code:
                  (302) 791-3239

                    Nathan Most
                     President
               WEBS Index Fund, Inc.
                   c/o PFPC Inc.
               400 Bellevue Parkway
            Wilmington, Delaware 19809
       (Name and Address of Agent for Service)

                    Copies to:
              Donald R. Crawshaw, Esq.
                Sullivan & Cromwell
                 125 Broad Street
              New York, New York 10004

It is proposed that this filing will become effective
(check appropriate box):

[ ]	immediately upon filing pursuant to paragraph (b)
[X]	on December 20, 1999 pursuant to paragraph (b)
[ ]	60 days after filing pursuant to paragraph (a)(1)
[ ]	on (date) pursuant to paragraph (a)(1)
[ ]	75 days after filing pursuant to paragraph (a)(2)
[ ]	on (date) pursuant to paragraph (a)(ii) of rule 485.

If appropriate, check the following box:

[X]	this post-effective amendment designates a new effective
     date for a previously filed post-effective amendment.




                   EXPLANATORY COMMENT

This Post-Effective Amendment No. 14 to the Registration
Statement of WEBS Index Fund, Inc. (the "Fund") incorporates
By reference Parts A, B and C contained in Post-Effective
Amendment No. 13 to the Registration Statement of the Fund
filed with the Securities and Exchange Commission on
September 28, 1999.




                      SIGNATURES

Pursuant to the requirements of the Securities Act of 1933 and
the Investment Company Act of 1940, the Registrant certifies
that it meets all of the requirements for effectiveness of this
Registration Statement pursuant to Rule 485(b) under the
Securities Act of 1933 and has duly caused this Post-Effective
Amendment No. 14 to the Registration Statement to be signed on
its behalf by the undersigned, thereunto duly authorized, in
the City of New York, and State of New York, on the 10th day of
December 1999.


                                      WEBS INDEX FUND, INC.

                                      By: /S/ Nathan Most*
                                      Nathan Most, President


Pursuant to the requirements of the Securities Act of 1933,
this Post-Effective Amendment No. 14 to the Registration
Statement has been signed below by the following persons, in
the capacities indicated, on the 10th day of December  1999.

          Signature                        Title

/S/ Nathan Most*                  President and Director
(Nathan Most)


/S/ John B. Carroll*                      Director
(John B. Carroll)


/S/ Timothy A. Hultquist*                 Director
Timothy A. Hultquist


/S/ Lloyd N. Morrisett*                   Director
(Lloyd N. Morrisett)


/S/ W. Allen Reed*                        Director
(W. Allen Reed)


/S/ Stephen M. Wynne             Treasurer (principal financial
(Stephen M. Wynne)                  and accounting officer)


*By: /S/ Gary M. Gardner                 Attorney-In-Fact
(Gary M. Gardner)