<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information derived from the Company's
Condensed Balance Sheet as of June 30, 1999 (Unaudited) and Condensed Statements
of Operations for the Three Months Ended June 30, 1999 (Unaudited) and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
<MULTIPLIER> 1,000

                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-START>                             JAN-01-1999
<PERIOD-END>                               JUN-30-1999
<CASH>                                          34,373
<SECURITIES>                                     8,598
<RECEIVABLES>                                    7,327
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                51,012
<PP&E>                                          22,366
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                                  95,286
<CURRENT-LIABILITIES>                           18,186
<BONDS>                                         82,312
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                     12,015
<COMMON>                                            28
<OTHER-SE>                                    (17,255)
<TOTAL-LIABILITY-AND-EQUITY>                    95,286
<SALES>                                              0
<TOTAL-REVENUES>                                 7,759
<CGS>                                                0
<TOTAL-COSTS>                                   11,977
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               2,800
<INCOME-PRETAX>                               (16,640)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                           (16,640)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                  (16,640)
<EPS-BASIC>                                     (0.59)
<EPS-DILUTED>                                   (0.59)