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, Edgar G.
6300 Bridgepoint Parkway
Building Three, Suite 200
Austin, TX 78730
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
05/00
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
[ ] 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>
Common Stock 1,615,385 D Direct
<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 05/01/00 S 400 10/02/96 10/01/06
Warrants $0.0400 05/04/00 S 166 10/02/96 10/01/06
Warrants $0.0400 05/12/00 S 333 10/02/96 10/01/06
Warrants $0.0400 05/15/00 S 333 10/02/96 10/01/06
Warrants $0.0400 05/22/00 S 333 10/02/96 10/01/06
Warrants $0.0400 05/25/00 S 267 10/02/96 10/01/06
Warrants $0.0400 05/31/00 S 767 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 05/01/00 Common Stock 400 $20.7500 D Direct
Warrants 05/04/00 Common Stock 166 $16.1250 D Direct
Warrants 05/12/00 Common Stock 333 $18.5000 D Direct
Warrants 05/15/00 Common Stock 333 $18.1250 D Direct
Warrants 05/22/00 Common Stock 333 $14.0000 D Direct
Warrants 05/25/00 Common Stock 267 $11.0000 D Direct
Warrants 05/31/00 Common Stock 767 $9.6250 22,273 D Direct
<FN>
Explanation of Responses:
</FN>
</TABLE>
SIGNATURE OF REPORTING PERSON
/S/ Saadi, Edgar G.
DATE
