SLH CORP
8-K, 1998-01-27
REAL ESTATE
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                      SECURITIES AND EXCHANGE COMMISSION

                           Washington, D. C.  20549

                                   FORM 8-K
                         
                                CURRENT REPORT

                      Pursuant to Section 13 or 15(d) of
                      the Securities Exchange Act of 1934

                       Date of Report:  January 20, 1998



                               SLH Corporation             
            ------------------------------------------------------
            (Exact name of registrant as specified in its charter)

        Kansas                   0-21911                   43-1764632
     -----------------------------------------------------------------
     (State of other     (Commission File Number)        (IRS Employer
     jurisdiction of                                    Identification
     incorporation)                                         Number)


     5000 W. 95th Street,   Suite 260
     P. O. Box 7568
     Shawnee Mission, KS                                      66207
     -----------------------------------------------------------------
     (Address of principal executive offices)              (Zip code)


                               (913)  652-1000           
     -----------------------------------------------------------------
            (Registrant's telephone number, including area code)


- --------------------------------------------------------------------------
(Registrant's former name or former address, if changed since last report)



Item 5.  Other Events

On January 20, 1998, the Registrant issued the following news release:

"SHAWNEE MISSION, KS -  SLH Corporation (SLH) announced today that the SLH 
Board of Directors has declared a two for one split of the Company's shares 
of Common Stock on February 9, 1998.  As a result of the split, which is 
being effected as a stock dividend, each stockholder of record on February 
2, 1998, will receive one additional share of Common Stock for each share 
of Common Stock held of record on that date.

Certificates for the additional shares will be mailed to stockholders on 
February 9, 1998.  Stockholders should retain their existing stock 
certificates.  These certificates should not be sent to the Company since 
they will continue to evidence the number of shares of Common Stock now 
stated on the certificate.

Preferred Stock purchase rights that were issued to holders of Common Stock 
under a Stockholders' Rights Agreement in 1997 have also been adjusted by 
the Split.  Under that agreement, the right of a stockholder, under certain 
circumstances, to purchase one one-hundredth of a share of Preferred Stock 
for each share of Common Stock will be adjusted as a result of the split 
and a prior stock split to permit the purchase of one sixth of one one-
hundredth of a share of Preferred Stock for each share of Common Stock 
outstanding immediately after the split."





                                  SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized officer.


                                           SLH Corporation



Date:  January 27, 1998                    By: /s/ Steven K. Fitzwater 
                                               ---------------------------
                                               Steven K. Fitzwater
                                               Vice President, Chief Financial 
                                               and Accounting Officer and
                                               Secretary






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