<ARTICLE> 5 <MULTIPLIER> 1000 <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> DEC-31-1999 <PERIOD-END> DEC-31-1999 <CASH> 180,839 <SECURITIES> 273,716 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 458,849 <PP&E> 51,048 <DEPRECIATION> 25,491 <TOTAL-ASSETS> 527,725 <CURRENT-LIABILITIES> 13,903 <BONDS> 326,336 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 466 <OTHER-SE> 168,602 <TOTAL-LIABILITY-AND-EQUITY> 527,725 <SALES> 0 <TOTAL-REVENUES> 24,524 <CGS> 0 <TOTAL-COSTS> 60,607 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 4,330 <INCOME-PRETAX> (41,944) <INCOME-TAX> 225 <INCOME-CONTINUING> (42,169) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (42,169) <EPS-BASIC> (0.92) <EPS-DILUTED> (0.92)