<ARTICLE> 5 <LEGEND> This schedule contains summary financial information extracted from Statements of Operations and Balance Sheets. </LEGEND> <MULTIPLIER> 1,000 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1999 <PERIOD-START> JAN-01-1999 <PERIOD-END> JUN-30-1999 <CASH> 65 <SECURITIES> 132,888 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 140,504 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 140,504 <CURRENT-LIABILITIES> 4,164 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 34 <OTHER-SE> 136,306 <TOTAL-LIABILITY-AND-EQUITY> 140,504 <SALES> 0 <TOTAL-REVENUES> 2,342 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> (11,317) <INCOME-TAX> 874 <INCOME-CONTINUING> (12,191) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (12,191) <EPS-BASIC> (3.72) <EPS-DILUTED> (3.72)