<ARTICLE> 5

                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          AUG-31-1998
<PERIOD-END>                               NOV-30-1998
<CASH>                                           2,085
<SECURITIES>                                         0
<RECEIVABLES>                                      467
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                 2,552
<PP&E>                                             911
<DEPRECIATION>                                  12,454
<TOTAL-ASSETS>                                  38,459
<CURRENT-LIABILITIES>                              321
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                        127
<COMMON>                                            75
<OTHER-SE>                                      37,936
<TOTAL-LIABILITY-AND-EQUITY>                    38,459
<SALES>                                              0
<TOTAL-REVENUES>                                 1,913
<CGS>                                                0
<TOTAL-COSTS>                                      763
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                                  1,150
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                              1,150
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     1,150
<EPS-BASIC>                                        .15
<EPS-DILUTED>                                      .15