UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Amendment No. 1)
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Rule 13d-102)
FACTORY CARD OUTLET CORP.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
141400101
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(CUSIP Number)
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CUSIP No. 141400101 Page 2 of 5 Pages
SCHEDULE 13G
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Garlen Investments Limited
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
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5 SOLE VOTING POWER 1,131,708 shares
NUMBER OF SHARES --------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER 0
OWNED BY EACH --------------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER 1,131,708 shares
PERSON WITH --------------------------------------------------------------
8 SHARED DISPOSITIVE POWER 0
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,131,708 shares
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
14.7%
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12 TYPE OF REPORTING PERSON
CO
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CUSIP No. 141400101 Page 3 of 5 Pages
Item 1(a). Name of Issuer:
Factory Card Outlet Corp.
Item 1(b). Address of Issuer's Principal Executive Offices:
2727 Diehl Road
Naperville, Illinois 60563
Item 2(a). Name of Person Filing:
Garlen Investments Limited
Item 2(b). Address of Principal Business Office or, if None, Residence:
c/o International Managers Bermuda Ltd.
Vallis Building
P.O. Box HM 247
Hamilton, Bermuda HM AX
Item 2(c). Citizenship:
British Virgin Islands
Item 2(d). Title of Class of Securities:
Common Stock, $.01 par value per share
Item 2(e). CUSIP Number:
141400101
Item 3. Not Applicable
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CUSIP No. 141400101 Page 4 of 5 Pages
Item 4. Ownership.
(a) Amount beneficially owned:
1,131,708*
(b) Percent of class:
14.7%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote:
1,131,708 shares
(ii) Shared power to vote or to direct the vote:
0
(iii) Sole power to dispose or to direct the disposition of:
1,131,708 shares
(iv) Shared power to dispose or to direct the disposition of:
0
Item 5. Ownership of Five Percent or Less of a Class.
Not Applicable
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Not applicable
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company.
Not applicable
Item 8. Identification and Classification of Members of the Group.
Not applicable
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CUSIP No. 141400101 Page 5 of 5 Pages
Item 9. Notice of Dissolution of Group.
Not applicable
Item 10. Certification.
Not applicable
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.
January 30, 1998
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(Date)
GARLEN INVESTMENTS LIMITED
/S/ David Morrison
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(Signature)
David Morrison for IMB
Services, LTD., Director
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(Name/Title)
*Garlen Investments Limited is beneficially owned by Hamilton Trust Company
Limited, as Trustee of the Book Trust for the benefit of Muhammad Abdulrahman
Al-Agil, Nasser Abdulrahman Al-Agil, Abdullah Abdulrahman Al-Agil, Abdulkarim
Abdulrahman Al-Agil, and Abdulsalam Abdulrahman Al-Agil.
