CALCULATION OF EARNINGS PER SHARE DATA <F1> ($ in thousands, except per share
data)
Fiscal year ended December 31,       1996       1995      1994 
                    
Net Income (loss)                (1,118)       (1,598)     (3,889) Preferred
Stock dividends        (1,552)       (1,234)     (  469)
     Total                       (2,740)       (2,832)     (4,358)
Average shares outstanding       1,961,761     2,007,230   2,012,514 Earning per
share (primary)       (1.40)        (1.41)      (2.17) <FN>
<F1> The per share data and the outstanding shares of Common Stock have been
     adjusted to reflect the one-for-five reverse stock split, which was
     effective July 25, 1994.
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