<ARTICLE> 5 <MULTIPLIER> 1,000 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1999 <PERIOD-END> MAR-31-1999 <CASH> 573,765 <SECURITIES> 409,436 <RECEIVABLES> 476,460 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 6,173,318 <DEPRECIATION> 381,659 <TOTAL-ASSETS> 11,140,828 <CURRENT-LIABILITIES> 0 <BONDS> 6,452,901 <PREFERRED-MANDATORY> 655,528 <PREFERRED> 147,787 <COMMON> 0 <OTHER-SE> 800,614 <TOTAL-LIABILITY-AND-EQUITY> 11,140,828 <SALES> 797,885 <TOTAL-REVENUES> 858,018 <CGS> 447,198 <TOTAL-COSTS> 142,018 <OTHER-EXPENSES> 11,852 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 100,840 <INCOME-PRETAX> 76,759 <INCOME-TAX> 26,065 <INCOME-CONTINUING> 39,791 <DISCONTINUED> 0 <EXTRAORDINARY> (31,520) <CHANGES> 0 <NET-INCOME> 8,271 <EPS-PRIMARY> 0.14 <EPS-DILUTED> 0.19