<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