<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE QUARTERLY REPORT ON FORM 10-Q FOR THE THREE MONTHS ENDED MARCH 31, 1998 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH QUARTERLY REPORT ON FORM 10-Q. </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> 12,715 <SECURITIES> 150,279 <RECEIVABLES> 30,185 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 193,179 <CURRENT-LIABILITIES> 14,919 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 178,260 <TOTAL-LIABILITY-AND-EQUITY> 193,179 <SALES> 0 <TOTAL-REVENUES> 3,963 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 563 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 3,400 <INCOME-TAX> 0 <INCOME-CONTINUING> 3,400 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 3,400 <EPS-PRIMARY> .27 <EPS-DILUTED> 0