:-----------:
: FORM 4 : U.S. SECURITIES AND EXCHANGE COMMISSION
:-----------: WASHINGTON, DC 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
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
[X] Check box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b)
1. Name and Address of Reporting Person:*
Nanda, Vir A.
3150 Holcomb Bridge Road
Norcross, Georgia 30071
2. Issuer Name and Ticker or Trading Symbol
The InterCept Group, Inc. (ICG)
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
June, 1998
5. If Amendment, Date of Original (Month/Year)
* If the Form is filed by more than one Reporting Person, see
Instruction 4(b)(v).
<PAGE>
6. Relationship of Reporting Person to Issuer (Check all applicable)
[ ] Director [ X ] 10% Owner
[ X ] 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>
TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
<CAPTION>
1. Title of Security 2. Trans- 3. Transac- 4. Securities Acquired (A) or 5. Amount of 6. Owner- 7. Nature of
(Inst. 3) action tion Disposed of (D) Securities ship Indirect
Date Code (Instr. 3, 4 and 5) Beneficially Form: Beneficial
(Month/ (Inst. 8) -------------------------- Owned at End Direct Ownership
Day/ ------------- Amount (A) or Price of Month (D) or (Instr. 4)
Year) Code V (D) (Instr. 3 Indirect
and 4) (I)
(Instr. 4)
- --------------------- ----------- ------ ---- ------- ------ ----- ---------------- -------------- ---------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 6/10/98 S(1) 137,500 D $6.30 901,044 D
</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
<PAGE>
<TABLE>
TABLE II - DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(e.g., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
<CAPTION>
1.Title of 2.Con- 3.Trans- 4.Trans- 5.Number of 6.Date Exer- 7.Title and 8.Price 9.Number 10.Ownership 11.Nature
Deriva- version action action Derivative cisable and Amount of of De- of Deriv- Form of of
tive or Date Code Securities Expiration Underlying rivative ative Derivative Indirect
Security Exer- (Month/ (Instr. Acquired Date Securities Security Securi- Security: Bene-
(Instr.3) cise Day/ 8) (A) or (Month/ (Instr. 3 (Instr. ties Direct ficial
Price Year) -------- Disposed Day/Year) and 4) 5) Bene- (D) or Owner-
of Code V of (D) -------------- ------------- ficially Indirect ship
Deriva- (Instr. 3, Date Expi- Title Amount Owned at (I) (Instr.4)
tive 4 and 5) Exer- ration or No. End of (Instr.4)
Secur- ----------- cisable Date of Month
ity (A) (D) Shares
- ----------- --------- -------- ---- --- ----- --- ------- ------ ----- ------ ---------- ----------- ------------ ------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Explanation of Responses:
(1) The shares were sold by Mr. Nanda as a selling shareholder in connection with the Company's initial public offering.
</TABLE>
<PAGE>
**Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
/s/ Vir A. Nanda 7/10/98
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**Signature of Reporting Person Date
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 provided is insufficient, see Instructions 6 for procedure.
