<ARTICLE> 5
<LEGEND>
THE FOLLOWING INFORMATION HAS BEEN EXTRACTED FROM THE FINANCIAL STATEMENTS 
FILED IN ITEM 1 IN THE COMPANY'S FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 1996.
</LEGEND>
<RESTATED> 
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               MAR-31-1996
<CASH>                                          32,121
<SECURITIES>                                     8,047
<RECEIVABLES>                                    4,432
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                45,480
<PP&E>                                           5,159
<DEPRECIATION>                                   1,881
<TOTAL-ASSETS>                                  52,598
<CURRENT-LIABILITIES>                            7,183
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                            73
<OTHER-SE>                                      44,283
<TOTAL-LIABILITY-AND-EQUITY>                    52,598
<SALES>                                              0
<TOTAL-REVENUES>                                 1,452
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                 (468)<F1>
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                  31
<INCOME-PRETAX>                                    419<F2>
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                       419
<EPS-PRIMARY>                                      .09
<EPS-DILUTED>                                      .08
<FN>
<F1>INCLUDES EXPENSES FOR EXCHANGE OFFER OF $388 AND DEPRECIATION OF $80.
<F2>INCLUDES EQUITY IN EARNINGS OF AFFILIATE OF $397.
</FN>