<PAGE> 1
<TABLE>
<CAPTION>
<S> <C>
FORM 4 OMB Approval
U.S. SECURITIES AND EXCHANGE COMMISSION ---------------------------
[ ] Check this box if no longer WASHINGTON, D.C. 20549 OMB Number 3235-0287
subject to Section 16. Form Expires: September 30, 1998
4 or Form 5 obligations may STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Estimated average burden
continue. See Instruction 1(b). hours per response.... 0.5
Filed pursuant to Section 16(a) of the Securities and Exchange Act of 1934, Section 17(a) of the Public Utility
(Print or Type Responses) Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
- ------------------------------------------------------------------------------------------------------------------------------------
1. Name and Address of Reporting Person| 2. Issuer Name and Ticker or Trading Symbol | 6. Relationship of Reporting Person(s)
Christos M. Cotsakos | | to Issuer (Check all applicable)
E*Trade Group, Inc. | National Processing, Inc. (NAP) | __X__ Director _____ 10% Owner
- -------------------------------------------------------------------------------------------| _____ Officer (give title below)
(Last) (First) (Middle) | 3. IRS or Social | 4. Statement for | _____ Other (specify below)
| Security Number | Month/Year | Executive Vice President
Four Embarcadero Place | of Reporting | May 1998 |----------------------------------------
2400 Geng Rd. | Person (Voluntary) |-------------------------| 7. Individual or Joint/Group Filing
- ---------------------------------------| | 5. If Amendment, | (Check Applicable Line)
(Street) | | Date of Original | _X_ Form filed by One Reporting Person
| | (Month/Year) | ___ Form filed by more than one
Palo Alto, CA 94303 | | | Reporting Person
- ------------------------------------------------------------------------------------------------------------------------------------
(City) (State) (Zip) | Table I - Non Derivative Securities Acquired, Disposed of, or Beneficially Owned
- ------------------------------------------------------------------------------------------------------------------------------------
1. Title of Security | 2.Transaction | 3.Transaction | 4.Securities Acquired(A) | 5.Amount of | 6.Owner-| 7.Nature
(Instr. 3) | Date | Code | or Disposed of (D) | Securities | ship | of
| (Month/Day/ | (Instr. 8) | (Instr. 3, 4, and 5) | Beneficially| Form: | Indirect
| Year) | | | Owned at End| Direct | Bene-
| | --------------|--------------------------| of Month | (D) or | ficial
| | | | Amount | (A) | Price | (Instr. 3 | Indirect| Owner-
| | Code | V | | or | | and 4) | (I) | ship
| | | | | (D) | | |(Instr.4)|(Instr.4)
- ---------------------------------------|---------------|-------|-------|--------|------|----------|-------------|---------|---------
Common Stock | | | | | | | 11,100.000 | D |
- ---------------------------------------|---------------|-------|-------|--------|------|----------|-------------|---------|---------
| | | | | | | | |
- ---------------------------------------|---------------|-------|-------|--------|------|----------|-------------|---------|---------
| | | | | | | | |
- ---------------------------------------|---------------|-------|-------|--------|------|----------|-------------|---------|---------
| | | | | | | | |
- ---------------------------------------|---------------|-------|-------|--------|------|----------|-------------|---------|---------
| | | | | | | | |
- ---------------------------------------|---------------|-------|-------|--------|------|----------|-------------|---------|---------
| | | | | | | | |
- ---------------------------------------|---------------|-------|-------|--------|------|----------|-------------|---------|---------
| | | | | | | | |
- ---------------------------------------|---------------|-------|-------|--------|------|----------|-------------|---------|---------
| | | | | | | | |
- ---------------------------------------|---------------|-------|-------|--------|------|----------|-------------|---------|---------
| | | | | | | | |
- ------------------------------------------------------------------------------------------------------------------------------------
Reminder: Report on a separate line for each class of securities beneficially owned, directly or indirectly. (over)
* If the form is filed by more than one reporting person, see Instruction 4(b)(v) SEC 1474 (7-96)
</TABLE>
Page 1 of 3 pages
<PAGE> 2
<TABLE>
<CAPTION>
<S> <C>
FORM 4 (CONTINUED) TABLE II - DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
- ------------------------------------------------------------------------------------------------------------------------------------
1.Title of Derivative Security | 2.Conversion | 3.Transaction | 4.Transaction | 5.Number of | 6.Date Exer- | 7.Title and Amount
(Instr. 3) | or Exercise | Date | Code | Derivative | cisable and | of Underlying
| Price of | | (Instr. 8) | Securities | Expiration Date | Securities
| Derivative | (Month/Day/ | | Acquired (A) | (Month/Day/Year) | (Instr. 3 and 4)
| Security | Year) | | or Disposed | |
| | | | of (D) |--------------------------------------
| | | | (Instr. 3, | Date | Expir- | | Amount or
| | | | 4, and 5) | Exer- | ation | Title | Number of
| | |---------------|--------------| cisable | Date | | Shares
| | | Code | V | (A) | (D) | | | |
- ------------------------------------------------------------------------------------------------------------------------------------
Options (Rights to Buy) (1) | 11.8125 | 5/21/98 | A | |833. | | 5/21/99 |5/21/08 |Common | 833.000
| | | | | | | | |Stock |
- -------------------------------|--------------|---------------|-------|-------|------|-------|---------|--------|--------|----------
Options (Rights to Buy) (1) | 11.8125 | 5/21/98 | A | |833. | | 5/21/00 |5/21/08 |Common | 833.000
| | | | | | | | |Stock |
- -------------------------------|--------------|---------------|-------|-------|------|-------|---------|--------|--------|----------
Options (Rights to Buy) (1) | 11.8125 | 5/21/98 | A | |834. | | 5/21/01 |5/21/08 |Common | 834.000
| | | | | | | | |Stock |
- -------------------------------|--------------|---------------|-------|-------|------|-------|---------|--------|--------|----------
| | | | | | | | | |
- -------------------------------|--------------|---------------|-------|-------|------|-------|---------|--------|--------|----------
| | | | | | | | | |
- -------------------------------|--------------|---------------|-------|-------|------|-------|---------|--------|--------|----------
| | | | | | | | | |
- -------------------------------|--------------|---------------|-------|-------|------|-------|---------|--------|--------|----------
| | | | | | | | | |
- -------------------------------|--------------|---------------|-------|-------|------|-------|---------|--------|--------|----------
| | | | | | | | | |
- -------------------------------|--------------|---------------|-------|-------|------|-------|---------|--------|--------|----------
| | | | | | | | | |
- -------------------------------|--------------|---------------|-------|-------|------|-------|---------|--------|--------|----------
| | | | | | | | | |
- ------------------------------------------------------------------------------------------------------------------------------------
8.Price of | 9.Number of | 10.Ownership | 11.Nature of |
Derivative | Derivative | Form of | Indirect |
Security | Securities | Derivative | Beneficial |
(Instr. 5) | Beneficially | Security; | Ownership |
| Owned at End | Direct (D) or | (Instr. 4) |
| of Month | Indirect (I) | |
| (Instr. 4) | (Instr. 4) | |
- -------------------------------------------------------------------|
| | D | |
- --------------|----------------|-------------------|---------------|
| | D | |
- --------------|----------------|-------------------|---------------|
| 30,000.000 | D | |
- --------------|----------------|-------------------|---------------|
| | | |
- --------------|----------------|-------------------|---------------|
| | | |
- --------------|----------------|-------------------|---------------|
| | | |
- --------------|----------------|-------------------|---------------|
| | | |
- --------------|----------------|-------------------|---------------|
| | | |
- --------------|----------------|-------------------|---------------|
| | | |
- --------------|----------------|-------------------|---------------|
| | | |
- -------------------------------------------------------------------
Explanation of Responses:
See continuation page(s) for footnotes /s/ Christos M. Cotsakos 06/02/98
------------------------------------ -----------------
*Signature of Reporting Person Date
** 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 is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained in this form
are not required to respond unless the form displays a currently valid OMB Number.
Page 2
SEC 1474 (7-96)
</TABLE>
Page 2 of 3
<PAGE> 3
Christos M. Cotsakos Page 3 of 3 pages
E*Trade Group, Inc. 5/31/98
Four Embarcadero Place
2400 Geng Rd.
Palo Alto, CA 94303
(1) These options were granted under the Issuer's Stock Option Plan between
October 17, 1996 and May 21, 1998 at exercise prices ranging from
$20.5 to $11.8125, in reliance upon the exemption provided by Rule
16(b)-3. Each option will expire 10 years from the date of its grant.
The options become exercisable 33.3% annually after the grant date.
