<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> MAR-31-1998 <CASH> 230,348 <SECURITIES> 0 <RECEIVABLES> 127,469 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 430,287 <CURRENT-LIABILITIES> 167,860 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 254,649 <TOTAL-LIABILITY-AND-EQUITY> 430,287 <SALES> 0 <TOTAL-REVENUES> 7,948 <CGS> 0 <TOTAL-COSTS> (12,426) <OTHER-EXPENSES> 26 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 6,232 <INCOME-PRETAX> 1,780 <INCOME-TAX> 0 <INCOME-CONTINUING> 1,780 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 1,780 <EPS-PRIMARY> .14 <EPS-DILUTED> .14