<ARTICLE> 5 <LEGEND> This schedule contains summary financial information extracted from the Form 10-Q for the period ending June 30, 1996 and is qualified in its entirety by reference to such 10-Q. </LEGEND> <MULTIPLIER> 1,000 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1996 <PERIOD-END> JUN-30-1996 <CASH> 6,274 <SECURITIES> 65,752 <RECEIVABLES> 0<F1> <ALLOWANCES> 0<F1> <INVENTORY> 0 <CURRENT-ASSETS> 118,514 <PP&E> 0<F1> <DEPRECIATION> 0<F1> <TOTAL-ASSETS> 250,495 <CURRENT-LIABILITIES> 15,812 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 7,500 <OTHER-SE> 175,481 <TOTAL-LIABILITY-AND-EQUITY> 250,495 <SALES> 0 <TOTAL-REVENUES> 57,572 <CGS> 0 <TOTAL-COSTS> 57,955 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0<F1> <INTEREST-EXPENSE> 471 <INCOME-PRETAX> 1,808 <INCOME-TAX> 891 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 72 <EPS-PRIMARY> .01 <EPS-DILUTED> 0<F2> <FN> <F1>Disclosure not required on interim financial statements <F2>Computation not applicable </FN>