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| FORM 3 | U.S. SECURITIES AND EXCHANGE COMMISSION
+--------+ WASHINGTON, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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
(Print or Type Responses)
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1. Name and Address of Reporting Person*
Browne Stephen B
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(Last) (First) (Middle)
1521 Hudson
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(Street)
Oklahoma City OK 73102
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(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year) 09/05/00
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3. IRS Identification Number of Reporting Person if an Entity
(Voluntary) ###-##-####
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4. Issuer Name and Ticker or Trading Symbol CD Warehouse, Inc. (CDWI)
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5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
X
___ Director ___ Officer ___ 10% Owner ___ Other
(give title below) (specify below)
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6. If Amendment, Date of Original (Month/Day/Year) 8/30/00
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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
TABLE I--NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
<TABLE>
<CAPTION>
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1. Title 2. Amount of 3. Ownership Form: 4. Nature of
of Securities Bene- Direct (D) or Indirect Bene-
Security ficially Owned Indirect (I) ficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr. 5)
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<S> <C> <C> <C>
No non-derivative securities owned
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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
5(b)(v).
Potential persons who are to respond to the collection of information in
this form are not required to respond unless the form displays a
currently valid OMB control number.
(Over)
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TABLE II--DERIVATIVE SECURITIES BENEFICIALLY OWNED
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
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1. Title of Derivative 2. Date Exer- 3. Title and Amount of Securities 4. Conversion 5. Ownership 6. Nature of In-
Security (Instr. 4) cisable and Underlying Derivative Security or Form of direct Bene-
Expiration (Instr. 4) Exercise Derivative ficial
Date Price Security: Ownership
(Month/Day/ of Direct (D) (Instr. 5)
Year) Derivative or In-
---------------------------------------------------- Security direct (I)
Date Expira- Amount or (Instr. 5)
Exer- tion Title Number of
cisable Date Shares
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<S> <C> <C> <C> <C> <C> <C> <C>
Options to Purchase (1) (2) 09/06/10 Common Stock 7,500 $1.25 D
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</TABLE>
Explanation of Responses:
(1) Grant of options to newly-elected director under CD Warehouse, Inc. Amended
1996 Stock Option Plan in a transaction exempt under Rule 16B-3.
(2) Options are exercisable after the next annual meeting of stockholders
following the date of grant, and are further conditioned on the continued
service of the optionee as a director until such date.
/s/ Stephen B. Browne September 15, 2000
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**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 in
this form are not required to respond unless the form displays a
currently valid OMB control number.
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