<PAGE> 1
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FORM 3
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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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
<TABLE>
<S> <C> <C> <C>
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|1. Name and Address of Reporting Person* |2. Date of Event Requiring |4. Issuer Name and Ticker or Trading Symbol |
| | Statement | |
| PSC, S.A. | (Month/Day/Year) | |
|------------------------------------------| | PriceSmart, Inc.: PSMT (NMM) |
| (Last) (First) (Middle) | |-----------------------------------------------------------|
| | 7/7/00 |5. Relationship of Reporting | 6. If Amendment, Date |
| P.O. Box 0832 - 1384 World Trade Center |---------------------------| Person to Issuer | of Original |
|------------------------------------------|3. IRS Identification | (Check all applicable) | (Month/Day/Year) |
| (Street) | Number of Reporting | | |
| | Person, if an Entity |[ ] Director [X] 10% Owner | |
| | (Voluntary) | | |
| | |[ ] Officer [ ] Other (specify| |
| | | (give below) |-------------------------|
| | | title below) | 7. Individual or Joint/ |
| Panama Republic of Panama | | | Group Filing (Check |
|--------------------------------------------------------------------------------------------------------| applicable line) |
| (City) (State) (Zip) | |
| | [ ] Form Filed by |
| | One Reporting |
| | Person |
| | [X] Form Filed by |
| | More than One |
| | Reporting Person |
|----------------------------------------------------------------------------------------------------------------------------------|
| TABLE 1 -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED |
|----------------------------------------------------------------------------------------------------------------------------------|
|1. Title of Security | 2. Amount of Securities | 3. Ownership Form: | 4. Nature of Indirect |
| (Instr. 4) | Beneficially Owned | Direct (D) or | Beneficial |
| | (Instr. 4) | Indirect (I) | Ownership (Instr. 5) |
| | | (Instr. 5) | |
|----------------------------------------|------------------------------|---------------------------|------------------------------|
| Common Stock | 679,500(1) | D | |
|----------------------------------------|------------------------------|---------------------------|------------------------------|
| Common Stock | 185,318(2) | I | By PSC, S.A. |
|----------------------------------------|------------------------------|---------------------------|------------------------------|
| Common Stock | 61,773(3) | I | By PSC, S.A. |
|----------------------------------------|------------------------------|---------------------------|------------------------------|
| Common Stock | 185,318(4) | I | By PSC, S.A. |
|----------------------------------------|------------------------------|---------------------------|------------------------------|
| Common Stock | 61,773(5) | I | By PSC, S.A. |
|----------------------------------------|------------------------------|---------------------------|------------------------------|
| | | | |
|----------------------------------------|------------------------------|---------------------------|------------------------------|
| | | | |
|----------------------------------------|------------------------------|---------------------------|------------------------------|
| | | | |
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</TABLE>
* If the form is filed by more than one Reporting Person, see Instruction
5(b)(v). Reminder: Report on a separate line for each class of securities
beneficially owned directly or indirectly.
(Print or Type Responses)
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<TABLE>
<CAPTION>
FORM 3 (CONTINUED) TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
<S> <C> <C> <C> <C> <C>
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| 1. Title of Derivative Security |2. Date |3. Title and Amount of |4. Conver- | 5. Owner- |6. Nature of Indirect|
| (Instr. 4) | Exercisable and | Securities Underlying | sion or | ship | Beneficial Owner- |
| | Expiration Date | Derivative Securities | Exercise | Form of | ship (Instr. 5) |
| | (Month/Day/Year) | (Instr. 4) | Price of | Deriva- | |
| | | | Deriva- | tive | |
| | | | tive | Security:| |
| | | | Security | Direct | |
| |--------------------|--------------------------| | (D) or | |
| | Date | Expira- | | Amount or | | Indirect | |
| | Exercis-| tion | Title | Number of | | (I) | |
| | able | Date | | Shares | | (Instr. | |
| | | | | | | 5) | |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| | | | | | | | |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| | | | | | | | |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| | | | | | | | |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| | | | | | | | |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| | | | | | | | |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| | | | | | | | |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| | | | | | | | |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| | | | | | | | |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| | | | | | | | |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| | | | | | | | |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| | | | | | | | |
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Explanation of Responses:
-------------------------
(1) These securities are owned directly by PSC, S.A.
(2) These securities are owned indirectly by Edgar Zurcher.
(3) These securities are owned indirectly by Mario Rapaccioli.
(4) These securities are owned indirectly by John Keith. By: PSC, S.A.
(5) These securities are owned indirectly by Alberto Bonetti.
** Intentional misstatements or omissions of facts constitute Federal Criminal By: /s/ Edgar Zurcher 7/7/00
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). --------------------------------- ----------
**Signature of Reporting Person Date
Note. File three copies of this form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
(Print or Type Responses) Page 2
</TABLE>
<PAGE> 3
FORM 3 APPENDIX
Name and Address of Reporting Person:
Edgar Zurcher
P.O. Box 0832-1384 World Trade Center
Panama, Republic of Panama
Signature:
/s/ Edgar Zurcher
-----------------------------------
Edgar Zurcher
Designated Filer: PSC, S.A.
Date of Event Requiring Statement: 7/7/2000
Issuer Name and Ticker or Trading Symbol: PriceSmart, Inc.: PSMT (NMM)
Name and Address of Reporting Person:
Mario Rapaccioli
P.O. Box 0832-1384 World Trade Center
Panama, Republic of Panama
Signature:
/s/ Mario Rapaccioli
-----------------------------------
Mario Rapaccioli
Designated Filer: PSC, S.A.
Date of Event Requiring Statement: 7/7/2000
Issuer Name and Ticker or Trading Symbol: PriceSmart, Inc.: PSMT (NMM)
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<PAGE> 4
Name and Address of Reporting Person:
John Keith
P.O. Box 0832-1384 World Trade Center
Panama, Republic of Panama
Signature:
/s/ John Keith
-----------------------------------
John Keith
Designated Filer: PSC, S.A.
Date of Event Requiring Statement: 7/7/2000
Issuer Name and Ticker or Trading Symbol: PriceSmart, Inc.: PSMT (NMM)
Name and Address of Reporting Person:
Alberto Bonetti
P.O. Box 0832-1384 World Trade Center
Panama, Republic of Panama
Signature:
/s/ Alberto Bonetti
-----------------------------------
Alberto Bonetti
Designated Filer: PSC, S.A.
Date of Event Requiring Statement: 7/7/2000
Issuer Name and Ticker or Trading Symbol: PriceSmart, Inc.: PSMT (NMM)
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