<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM  THE
FINANCIAL STATEMENTS FILED IN ITEM 1 TO THE COMPANY'S FORM 10-Q FOR THE QUARTER
ENDED MARCH 31,1998 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               MAR-31-1998
<CASH>                                           2,822
<SECURITIES>                                    13,706
<RECEIVABLES>                                    1,313
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                42,553<F1>
<PP&E>                                           7,120
<DEPRECIATION>                                   2,352
<TOTAL-ASSETS>                                  51,374
<CURRENT-LIABILITIES>                            3,312
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                            73
<OTHER-SE>                                      46,815
<TOTAL-LIABILITY-AND-EQUITY>                    51,374
<SALES>                                              0
<TOTAL-REVENUES>                                   750
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                   713<F2>
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   1
<INCOME-PRETAX>                                  (863)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     (863)
<EPS-PRIMARY>                                    (.27)
<EPS-DILUTED>                                    (.27)
<FN>
<F1>Includes Assets Held-For-Sale of $ 24,411.
<F2>Includes Co-Ownership Program of $ 572 and Depreciation of $ 141.
</FN>