UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Universal Security Instruments Inc.
(Name of Issuer)
Common
(Title of Class of Securities)
913821302
(CUSIP Number)
September 3, 1998
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[ ] Rule 13d-1 (b)
[X] Rule 13d-1 (c)
[ ] Rule 13d-1 (d)
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other
provisions of the Act (however, see the Notes).
CUSIP No. 913821302 13G Page 2 of 5 Pages
1) NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Norman H. Pessin
###-##-####
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /__/
(b) / /
3) SEC USE ONLY
4) CITIZENSHIP OR PLACE OF ORGANIZATION
USA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
5) SOLE VOTING POWER
36,750
6) SHARED VOTING POWER
0
7) SOLE DISPOSITIVE POWER
36,750
8) SHARED DISPOSITIVE POWER
0
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
36,750
10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
0
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
4.53
12) TYPE OF REPORTING PERSON*
IN
CUSIP No. 913821302 13G Page 3 of 5 Pages
Item 1. (a) Name of Issuer:
Universal Security Instruments Inc.
Item 1 (b) Address of Issuer's Principal Executive Offices:
10324 S. Dolfield Rd., Owings Mills, MD 21117
Item 2. (a) Name of Person Filing:
Norman H. Pessin is a principal of Neuberger & Berman, LLC
("N&B"), a limited liability company organized under the
laws
of the State of Delaware. N&B is a registered broker/dealer
and registered investment advisor which conducts a general
brokerage, dealer and investment advisory business. This
filing is made by Mr. Pessin individually and not in any
capacity related to N&B. The shares are held individually by
Mr. Pessin. The firm of N&B has no voting or dispositive
Power regarding these shares.
Item 2 (b) Address of Principal Business Office:
c/o Neuberger & Berman, LLC
605 Third Ave., New York, NY, 10158-3698
Item 2 (c) Citizenship:
USA
Item 2 (d) Title of Class of Securities:
Common
Item 2 (e) CUSIP Number:
913821302
Item 3. If this statement is filed pursuant to Rule 13d-1(c),
Check this box. /X/
Item 4. Ownership:
(a) Amount Beneficially Owned:
36,750
(b) Percent of Class:
4.53
CUSIP No. 913821302 13G Page 4 of 5 Pages
(c) Number of Shares as to which such person has:
(I) Sole Power to vote or to direct the
vote: 36,750
(II) Shared Power to vote or to direct the
vote: 0
(III) Sole Power to dispose or to direct the disposition
of: 36,750
(IV) Shared Power to dispose or to direct the disposition
of: 0
Item 5. Ownership of Five Percent or Less of a Class:
N/A
Item 6. Ownership of More than Five Percent on Behalf of Another:
N/A
CUSIP No. 913821302 13G Page 5 of 5 Pages
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent
Holding Company:
N/A
Item 8. Identification and Classification of Members of the Group:
N/A
Item 9. Notice of Dissolution of Group:
N/A
Item 10. Certification:
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in
connection with or as a participant in any transaction having that purpose
or effect.
Signature:
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete
and correct.
Date: September 10, 1998
By:
Norman H. Pessin
