<ARTICLE> 5 <CIK> 0001017482 <NAME> COBBLESTONE GOLF GROUP, INC. <PERIOD-TYPE> 12-MOS <FISCAL-YEAR-END> SEP-30-1998 <PERIOD-START> OCT-01-1997 <PERIOD-END> SEP-30-1998 <CASH> 388,758 <SECURITIES> 0 <RECEIVABLES> 10,810,642 <ALLOWANCES> 1,055,553 <INVENTORY> 2,977,193 <CURRENT-ASSETS> 10,288,663 <PP&E> 189,723,435 <DEPRECIATION> 26,152,097 <TOTAL-ASSETS> 185,576,854 <CURRENT-LIABILITIES> 10,164,527 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 4,308 <COMMON> 1,350 <OTHER-SE> 65,177,575 <TOTAL-LIABILITY-AND-EQUITY> 185,576,854 <SALES> 5,389,271 <TOTAL-REVENUES> 21,052,693 <CGS> 2,204,547 <TOTAL-COSTS> 18,418,467 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 29,106 <INTEREST-EXPENSE> 2,879,103 <INCOME-PRETAX> (244,877) <INCOME-TAX> 9,020 <INCOME-CONTINUING> (253,897) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (253,897) <EPS-PRIMARY> 0 <EPS-DILUTED> 0