<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> MAR-31-1997 <CASH> 7,400,000 <SECURITIES> 7,300,000 <RECEIVABLES> 167,700,000 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 311,400,000 <PP&E> 5,100,000 <DEPRECIATION> 396,000 <TOTAL-ASSETS> 325,900,000 <CURRENT-LIABILITIES> 276,800,000 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 79,000 <OTHER-SE> 36,120,000 <TOTAL-LIABILITY-AND-EQUITY> 276,800 <SALES> 0 <TOTAL-REVENUES> 50,400,000 <CGS> 0 <TOTAL-COSTS> 36,200,000 <OTHER-EXPENSES> 10,000,000 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 93,000 <INCOME-PRETAX> 4,200,000 <INCOME-TAX> 1,700,000 <INCOME-CONTINUING> 2,500,000 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 2,400,000 <EPS-PRIMARY> .30 <EPS-DILUTED> 0