<ARTICLE>                     5
<LEGEND>
     This schedule contains summary financial  information  extracted from ARROW
     MANAGEMENT, INC. September 30, 1999  financial  statements and is qualified
     in its entirety by reference to such financial statements.
</LEGEND>

<CIK>                         0000860401
<NAME>                        ARROW MANAGEMENT, INC.


                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                              DEC-31-1999

<PERIOD-END>                                   SEP-30-1999

<CASH>                                             731,165
<SECURITIES>                                             0
<RECEIVABLES>                                            0
<ALLOWANCES>                                             0
<INVENTORY>                                              0
<CURRENT-ASSETS>                                   800,703
<PP&E>                                                   0
<DEPRECIATION>                                           0
<TOTAL-ASSETS>                                   2,149,597
<CURRENT-LIABILITIES>                                 (582)
<BONDS>                                                  0
<PREFERRED-MANDATORY>                                    0
<PREFERRED>                                              0
<COMMON>                                             5,581
<OTHER-SE>                                       1,948,598
<TOTAL-LIABILITY-AND-EQUITY>                     2,149,597
<SALES>                                             39,000
<TOTAL-REVENUES>                                    56,126
<CGS>                                               19,386
<TOTAL-COSTS>                                       19,386
<OTHER-EXPENSES>                                     8,220
<LOSS-PROVISION>                                         0
<INTEREST-EXPENSE>                                       0
<INCOME-PRETAX>                                     25,346
<INCOME-TAX>                                             0
<INCOME-CONTINUING>                                      0
<DISCONTINUED>                                           0
<EXTRAORDINARY>                                          0
<CHANGES>                                                0
<NET-INCOME>                                        25,346
<EPS-BASIC>                                          .00
<EPS-DILUTED>                                          .00