U. S. SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 3
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
1. Name and Address of Reporting Person*
(Last) Russell (First) William (Middle)
(Street) 1725 Bascom Ave, Suite 100
(City) Campbell (State) CA (Zip) 95008
2. Date of Event Requiring Statement (Month/Day/Year) August 6, 1999
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Issuer Name and Ticker or Trading Symbol Transnational Financial
Network, Inc. TFN
5. Relationship of Reporting Person to Issuer
(Check all applicable)
( X ) Director ( ) 10% Owner
( ) Officer (give title below) ( ) Other (specify below)
6. If Amendment, Date of Original (Month/Year)
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 I -- Non-Derivative Securities Beneficially Owned
<TABLE>
<CAPTION>
1. Title of Security 2. Amount of Securities 3. Ownership Form: 4. Nature of Indirect Beneficial
(Instr. 4 ) Beneficially Owned Direct (D) or Ownership (Instr. 5)
(Instr. 4) Indirect (I)
(Instr. 5)
<S> <C> <C>
Common Stock 347,586 D
</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.
<PAGE>
FORM 3 (continued)
Table II -- Derivative Securities Beneficially
Owned (e.g., puts, calls, warrants, options, convertible
securities)
<TABLE>
<CAPTION>
<C> <C> <C> <C> <C> <C>
1. Title of 2. Date Exer- 3. Title and Amount of 4. Conver- 5.Owner- 6.Nature of Indirect
Derivative Security cisable and Securities Underlying sion or ship Beneficial Ownership
(Instr. 4) Expiration Derivative Security Exercise Form of (Instr. 5)
Date (Instr. 4) Price of Deriv-
(Month/Day/ Deriv- ative
Year) ative Security:
Amount Security
Date Expir- or Direct (D)
Exer- tion Title Number or Indirect (I)
cisable Date of (Instr. 5)
Shares
</TABLE>
Explanation of Responses:
/s/ William Russell September 13, 1999
**Signature of Reporting {Person) Date
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78(ff)(a)
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient. See Instruction 6 for procedure.
Alternatively, this form is permitted to be submitted to the Commission
in electronic format at the option of the reporting person pursuant to Rule
101(b) (4) of Regulation S-T.
<PAGE>
