UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person*
Gleberman, Joseph H.
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(Last) (First) (Middle)
c/o Goldman, Sachs & Co.
85 Broad Street
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(Street)
New York, New York 10004
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Applied Analytical Industries, Inc.
(AAII)
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3. I.R.S. Identification Number of Reporting Person, if an entity (voluntary)
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4. Statement for Month/Year
November/1998
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[ X ] Director [ ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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7. Individual or Joint/Group Filing (Check Applicable Line)
[ X ] Form filed by One Reporting Person
[ ] Form filed by More than One Reporting Person
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<PAGE>
<TABLE>
<CAPTION>
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Table I -- Non-Derivative Securities Acquired, Disposed of, |
or Beneficially Owned |
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| | | | |6. | |
| | | 4. |5. |Owner- | |
| | | Securities Acquired (A) or |Amount of |ship | |
| | 3. | Disposed of (D) |Securities |Form: |7. |
|2. | Transaction| (Instr. 3, 4 and 5) |Beneficially |Direct |Nature of |
|Transaction | Code | -------------------------------|Owned at End |(D) or |Indirect |
1. |Date | (Instr. 8) | | (A) | |of Month |Indirect |Beneficial|
Title of Security |(Month/Day/ | -----------| Amount | or | Price |(Instr. 3 |(I) |Ownership |
(Instr. 3) |Year) | Code | V | | (D) | |and 4) |(Instr.4)|(Instr. 4)|
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
| | | | | | | | | |
Common Stock | 11/10/98 | J(02) | | 114.452632 | A | $17.125 | 114.452632 | I | 01,02 |
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| | | | | | | | | |
Common Stock | | | | | | | 150 | I | 01,03 |
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| | | | | | | | | |
Common Stock | | | | | | | 2,276,832 | I | 01,04 |
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| | | | | | | | | |
| | | | | | | | | |
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction
4(b)(v).
FORM 4 (continued)
<TABLE>
<CAPTION>
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Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned |
(e.g., puts, calls, warrants, options, convertible securities) |
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| | | | | | | |9. |10. | |
| | | | | | | |Number |Owner-| |
| | | | | | | |of |ship | |
|2. | | | | | | |Deriv- |of | |
|Conver- | | | 5. | |7. | |ative |Deriv-|11. |
|sion | | | Number of | |Title and Amount | |Secur- |ative |Nature|
|or | | | Derivative |6. |of Underlying |8. |ities |Secur-|of |
|Exer- | |4. | Securities |Date |Securities |Price |Bene- |ity: |In- |
|cise |3. |Trans-| Acquired (A) |Exercisable and |(Instr. 3 and 4) |of |ficially |Direct|direct|
|Price |Trans- |action| or Disposed |Expiration Date |-----------------------|Deriv- |Owned |(D) or|Bene- |
1. |of |action |Code | of (D) |(Month/Day/Year) | |Amount |ative |at End |In- |ficial|
Title of |Deriv- |Date |(Instr| (Instr. 3, |-----------------| |or |Secur- |of |direct|Owner-|
Derivative |ative |(Month/ |8) | 4 and 5) |Date |Expira- | |Number |ity |Month |(I) |ship |
Security |Secur- |Day/ |------| ------------ |Exer- |tion | |of |(Instr. |(Instr. |(Instr|(Instr|
(Instr. 3) |ity |Year) |Code|V| (A) | (D) |cisable |Date |Title |Shares |5) |4) |4) |4) |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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</TABLE>
Explanation of Responses:
01: The Reporting Person is a managing director of Goldman, Sachs & Co. (alone
and together with its affiliates, "Goldman Sachs"). The Goldman Sachs Group,
L.P. ("GS Group") is the general partner of and owns a 99% interest in Goldman
Sachs. The Reporting Person disclaims beneficial ownership of the securities
reported herein as indirectly owned except to the extent of his pecuniary
interest therein.
02: Goldman Sachs and GS Group may be deemed to own beneficially and indirectly
114.452632 shares of Common Stock which were acquired in a privately negotiated
acquisition by and are beneficially and directly owned by the Greene Street 1998
Exchange Fund, L.P. ("Greene Street 1998"). Goldman Sachs is the investment
manager of Greene Street 1998. An affiliate of Goldman Sachs and GS Group is the
general partner of Greene Street 1998. GS Group is the general partner of and
owns a 99% interest in Goldman Sachs. The 114.452632 shares reported herein as
indirectly beneficially owned by Goldman Sachs and GS Group represents GS
Group's proportionate interest in the shares of the Issuer owned by Greene
Street 1998.
03: Goldman Sachs and GS Group may be deemed to own beneficially and indirectly
150 shares of Common Stock which are beneficially and directly owned by the
Greene Street Exchange Fund, L.P. ("Greene Street"). Goldman Sachs is the
investment manager of Greene Street. An affiliate of Goldman Sachs and GS Group
is the general partner of Greene Street. GS Group is the general partner of and
owns a 99% interest in Goldman Sachs. The 150 shares reported herein as
indirectly beneficially owned by Goldman Sachs and GS Group represent GS Group's
proportionate interest in the shares of the Issuer owned by Greene Street.
04: The shares reported herein as indirectly owned are owned by GS Capital
Partners II, L.P. ("GSCP"), GS Capital Partners II Offshore, L.P. ("GSCP II
Offshore"), GS Capital Partners II (Germany) C.L.P. ("GSCP II Germany" and,
together with GSCP and GSCP Offshore, "GSCPII") and certain other limited
partnerships affiliated with Goldman Sachs. Goldman Sachs is the investment
manager of GSCPII.
By: s/ Roger S. Begelman December 10, 1998
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**Signature of Reporting Person Date
Attorney-in-fact
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedures.
Alternatively, this Form is permitted to be submitted to the
Commission in electronic format at the option of the reporting person
pursuant to Rule 101(b)(4) of Regulation S-T.