<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONSOLIDATED FINANCIAL STATEMENTS OF THE COMPANY AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH REGISTRATION STATEMENT. </LEGEND> <MULTIPLIER> 1,000 <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1996 <PERIOD-END> DEC-31-1996 <CASH> 4,721 <SECURITIES> 0 <RECEIVABLES> 1 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 4,812 <PP&E> 870 <DEPRECIATION> (274) <TOTAL-ASSETS> 5,946 <CURRENT-LIABILITIES> 942 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 5 <COMMON> 2 <OTHER-SE> 4,747 <TOTAL-LIABILITY-AND-EQUITY> 5,946 <SALES> 0 <TOTAL-REVENUES> 452 <CGS> 0 <TOTAL-COSTS> 3,562 <OTHER-EXPENSES> (64) <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 132 <INCOME-PRETAX> 3,178 <INCOME-TAX> 0 <INCOME-CONTINUING> 3,178 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 3,178 <EPS-PRIMARY> 1.03 <EPS-DILUTED> 1.03