<ARTICLE> 5 
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION DERIVED FROM THE COMPANY'S
CONDENSED BALANCE SHEET AS OF MARCH 31, 1999 (UNAUDITED) AND CONDENSED
STATEMENTS OF OPERATIONS FOR THE THREE MONTHS ENDED MARCH 31, 1999 (UNAUDITED)
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS 
<FISCAL-YEAR-END>                          DEC-31-1999 
<PERIOD-START>                             JAN-01-1999 
<PERIOD-END>                               MAR-31-1999 
<CASH>                                          20,310 
<SECURITIES>                                    22,547 
<RECEIVABLES>                                    5,256 
<ALLOWANCES>                                         0 
<INVENTORY>                                          0 
<CURRENT-ASSETS>                                48,852 
<PP&E>                                          22,374 
<DEPRECIATION>                                       0 
<TOTAL-ASSETS>                                  82,872
<CURRENT-LIABILITIES>                           19,632
<BONDS>                                         78,945 
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0 
<COMMON>                                            27 
<OTHER-SE>                                     (15,705) 
<TOTAL-LIABILITY-AND-EQUITY>                    82,872 
<SALES>                                              0 
<TOTAL-REVENUES>                                 7,232 
<CGS>                                                0 
<TOTAL-COSTS>                                   17,131
<OTHER-EXPENSES>                                     0  
<LOSS-PROVISION>                                     0 
<INTEREST-EXPENSE>                               2,705 
<INCOME-PRETAX>                                (12,604) 
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                            (12,604) 
<DISCONTINUED>                                       0 
<EXTRAORDINARY>                                      0 
<CHANGES>                                            0 
<NET-INCOME>                                   (12,604) 
<EPS-PRIMARY>                                    (0.46)
<EPS-DILUTED>                                    (0.46)