<ARTICLE> 5 <MULTIPLIER> 1,000 <PERIOD-TYPE> 11-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> FEB-01-1998 <PERIOD-END> DEC-31-1998 <CASH> 9,789 <SECURITIES> 28,754 <RECEIVABLES> 3,681 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 37,146 <DEPRECIATION> 100 <TOTAL-ASSETS> 190,926 <CURRENT-LIABILITIES> 941 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 100 <OTHER-SE> 130,166 <TOTAL-LIABILITY-AND-EQUITY> 190,926 <SALES> 0 <TOTAL-REVENUES> 8,745 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 2,858 <LOSS-PROVISION> 1,368 <INTEREST-EXPENSE> 567 <INCOME-PRETAX> 3,952 <INCOME-TAX> 0 <INCOME-CONTINUING> 3,952 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 3,952 <EPS-PRIMARY> 0.56<F1> <EPS-DILUTED> 0.56<F1> <FN> <F1>EPS-PRIMARY AND EPS-DILUTED ARE CALCULATED FROM FEBRUARY 2, 1998 (DATE OF INITIAL CAPITALIZATION) THROUGH DECEMBER 31, 1998. THE COMPANY HAD NO EARNINGS PRIOR TO THE COMMENCEMENT OF ITS OPERATIONS ON MAY 12, 1998. WHEN CALCULATED FOR THE PERIOD FROM MAY 12, 1998 (INCEPTION OF OPERATIONS) THROUGH DECEMBER 31, 1998, THE COMPANY'S BASIC AND DILUTED EARNINGS WERE $0.39 PER COMMON SHARE. </FN>