<ARTICLE> 5 <LEGEND> CAI Wireless Systems, Inc. and Subsidiaries Financial Data Schedule As Of And For the Six Months Ended September 30, 1998 </LEGEND> <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> MAR-31-1999 <PERIOD-START> APR-01-1998 <PERIOD-END> SEP-30-1998 <CASH> 12,543,316 <SECURITIES> 0 <RECEIVABLES> 954,010 <ALLOWANCES> 252,375 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 85,743,853 <DEPRECIATION> 44,284,791 <TOTAL-ASSETS> 292,082,165 <CURRENT-LIABILITIES> 0 <BONDS> 311,558,053 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 275,770,764 <OTHER-SE> (385,735,899) <TOTAL-LIABILITY-AND-EQUITY> 292,082,165 <SALES> 0 <TOTAL-REVENUES> 10,852,156 <CGS> 0 <TOTAL-COSTS> 32,262,291 <OTHER-EXPENSES> 45,291,855 <LOSS-PROVISION> 82,000 <INTEREST-EXPENSE> 18,058,781 <INCOME-PRETAX> (82,404,155) <INCOME-TAX> 0 <INCOME-CONTINUING> (82,404,155) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (82,404,155) <EPS-BASIC> (2.03) <EPS-DILUTED> (2.03)