UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
[ ] Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue.
1. Name and Address of Reporting Person(s)
Saadi, Wade E.
C/O Pencom Systems, Inc.
40 Fulton Street
28th Floor
New York, NY 10038
2. Issuer Name and Ticker or Trading Symbol
PSW Technologies, Inc. (PSWT)
3. I.R.S. Identification Number of Reporting Person, if an entity (Voluntary)
4. Statement for Month/Year
08/99
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
[X] Director [X] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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>
<CAPTION>
Table I Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1)Title of Security 2)Trans- 3.Trans- 4.Securities Acquired(A) 5)Amount of 6) 7)Nature of
action action or Disposed of (D) Securities Indirect
Date Code A Beneficially D Beneficial
(Month/ or Owned at or Ownership
Day/Year) Code V Amount D Price End of Month I
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<S> <C> <C> <C> <C><C> <C> <C><C>
<CAPTION>
Table II (PART 1) Derivative Securities Acquired, Disposed of, or Beneficially Owned (Columns 1 through 6)
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1)Title of Derivative 2)Conversion 3)Trans- 4)Trans- 5)Number of Derivative 6)Date Exercisable and
Security or Exercise action action Securities Acquired (A) Expiration Date
Price of Date Code or Disposed of (D)
Derivative
Security Code V A D Exercisable Expiration
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<S> <C> <C> <C> <C> <C> <C> <C>
Warrants $0.0400 08/24/99 S 833 10/02/96 10/01/06
Warrants $0.0400 08/25/99 S 3,000 10/02/96 10/01/06
Warrants $0.0400 08/26/99 S 867 10/02/96 10/01/06
Warrants $0.0400 08/27/99 S 1,800 10/02/96 10/01/06
Warrants $0.0400 08/31/99 S 567 10/02/96 10/01/06
<CAPTION>
Table II (PART 2) Derivative Securities Acquired, Disposed of, or Beneficially Owned (Columns 1,3 and 7 through 11)
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1)Title of Derivative 3)Trans- 7)Title and Amount 8)Price 9)Number of 10) 11)Nature of
Security action of Underlying of Deri- Derivative Indirect
Date Securities vative Securities D Beneficial
Amount or Security Beneficially or Ownership
Number of Owned at I
- Title Shares End of Month
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<S> <C> <C> <C> <C> <C> <C> <C>
Warrants 08/24/99 Common Stock 833 $4.2500 D Direct
Warrants 08/25/99 Common Stock 3,000 $3.7810 D Direct
Warrants 08/26/99 Common Stock 867 $3.6875 D Direct
Warrants 08/27/99 Common Stock 1,800 $3.7500 D Direct
Warrants 08/31/99 Common Stock 567 $3.9117 41,972 D Direct
<FN>
Explanation of Responses:
</FN>
</TABLE>
SIGNATURE OF REPORTING PERSON
/S/ Saadi, Wade E.
DATE 9/9/99
