<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONSOLIDATED BALANCE SHEETS AND STATEMENTS OF OPERATIONS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. </LEGEND> <MULTIPLIER> 1,000 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1994 <PERIOD-START> JAN-1-1995 <PERIOD-END> MAR-31-1995 <CASH> 4,476 <SECURITIES> 0 <RECEIVABLES> 21,977 <ALLOWANCES> (13,793) <INVENTORY> 0 <CURRENT-ASSETS> 12,660 <PP&E> 26,483 <DEPRECIATION> 2,361 <TOTAL-ASSETS> 36,782 <CURRENT-LIABILITIES> 132 <BONDS> 8,723 <COMMON> 9,157 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 18,770 <TOTAL-LIABILITY-AND-EQUITY> 36,782 <SALES> 0 <TOTAL-REVENUES> 1,005 <CGS> 0 <TOTAL-COSTS> 216 <OTHER-EXPENSES> 319 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 228 <INCOME-PRETAX> 242 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 242 <EPS-PRIMARY> .03<F1> <EPS-DILUTED> .03<F1> <FN> <F1>SHARES OF BENEFICIAL INTEREST EQUIVALENTS WERE ANTI-DILUTIVE. THE FIGURES PRESENTED ABOVE ARE SIMPLE EPS. </FN>