SECURITIES AND EXCHANGE COMMISSION

                              Washington, DC 20549

                                    FORM 8-K

                                  CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934

Date of Report:  February 10, 2000

                      LEXINGTON GLOBAL ASSET MANAGERS, INC.

State or other jurisdiction of                       (I.R.S. Employer
incorporation or organization                        Identification No.)

DELAWARE                                     22-3395036

LEXINGTON GLOBAL ASSET MANAGERS, INC.
PARK 80 WEST PLAZA TWO
SADDLE BROOK, NJ 07663

(201)845-7300



Item 5. Other Events

On  February  10,  2000,  the  registrant  announced  that the  Company has been
evaluating strategic  alternatives to enhance stockholder value and has received
several  proposals in that regard.  The Company has  authorized  its  investment
bankers,   Putnam,  Lovell,  de  Guardiola  &  Thornton,   Inc.  to  enter  into
negotiations which could lead to a definitive merger agreement.


Exhibit No. 20 Other Documents or Statements to Security Holders.

For Immediate Release

Lexington In  Negotiations for Merger

         SADDLE   BROOK,    N.J.,    February   10,    2000/PRNewswire/(Nasdaq:
LGAM)-Lexington Global Asset Managers, Inc. announced today that the Company has
been  evaluating  strategic  alternatives to enhance  stockholder  value and has
received  several  proposals  in that  regard.  The Company has  authorized  its
investment bankers,  Putnam, Lovell, de Guardiola & Thornton, Inc. to enter into
negotiations which could lead to a definitive merger agreement.  Consummation of
a  transaction  is  subject  to a number  of  additional  conditions,  including
approval of a definitive  merger agreement by Lexington's Board of Directors and
Stockholders and by the directors and  shareholders of the Investment  Companies
and other customary approvals.

Some of the  information  presented in this press  release,  including,  but not
limited to the  Company's  expectations  regarding  negotiation  of a definitive
merger agreement and consummation of a transaction,  constitute  forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of
1995.  Although  the  Company  believes  that  its  expectations  are  based  on
reasonable  assumptions  within  the  bounds of its  knowledge,  there can be no
assurance  that actual  results will not differ  materially  from the  Company's
expectations.  Factors  that may cause the  Company's  actual  results to differ
materially  from  expectations  include  failure to reach  agreement on material
terms,  failure  to  receive  required  corporate,  regulatory  and  contractual
approvals or consents and other factors  discussed in the  Company's  Securities
and Exchange Commission filings.

By:  /s/ Richard M. Hisey
Richard M. Hisey
EXECUTIVE VICE PRESIDENT, CHIEF FINANCIAL OFFICER AND TREASURER
Date:  2/10/00