U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
1. Name and Address of Reporting Person
William H. Lee
4011 NE 98th Street
Kelso, WA 98626
2. Date of Event Requiring Statement (Month/Day/Year)
February 20, 1997
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Issuer Name and Ticker or Trading Symbol
Tollycraft Yacht Corporation
TLLR
5. Relationship of Reporting Person to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (x) Officer (give title below) ( ) Other
(specify below) Controller
6. If Amendment, Date of Original (Month/Day/Year)
<TABLE>
<CAPTION>
Table I -- Non-Derivative Securities Beneficially Owned |
1.Title of Security 2.Amount of 3.Ownership 4.Nature of Indirect
Securities Form: Beneficial Ownership
Beneficially Direct(D) or
Owned Indirect(I)
<S> <C> <C> <C>
Common Stock, $.001 par value 5,610 D
<CAPTION>
Table II -- Derivative Securitites Beneficially Owned |
1.Title of 2.Date Exer- 3.Title 4.Conver- 5.Owner- 6.
Derivative cisable and and Amount sion or ship: Nature
Security Expiration of Underlying exercise Form of of
Date(Month/ Securities price of Deriv- Indirect
Day/Year) Amount deri- ative Beneficial
Expira- or Security Direct(D Ownership)
Exer- tion Title Number of Indirect(I)
cisable Date Shares
<S> <C> <C> <C> <C> (C> <C> <C>
</TABLE>
Explanation of Responses:
Pertains to acquisition pursuant to Employee Stock Option Plan.
SIGNATURE OF REPORTING PERSON
__/s/_____________________________
William H. Lee
DATE
March 14, 1997
