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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
FORM 3
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* DESAI, NAREN
Merrivale, 65 Balcombe Road
Haywards Heath, West Sussex
England RH16 1PE
2. Date of Event Requiring Statement (Month/Day/Year) 02/04/2000
3. I.R.S Identification Number of Reporting Person, if an Entity
(Voluntary)
4. Issuer Name and Ticker or Trading Symbol EURO TRADE & FORFAITING,
INC. ("ETFC")
5. Relationship of Reporting Person to Issuer (Check all applicable)
X Director 10% Owner
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X Officer (give title below) Other (specify below)
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Senior Vice-President
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6. If Amendment, Date of Original (Month/Day/Year) N/A
7. Individual or Joint/Group Filing (Check applicable line)
X Form Filed by One Reporting Person
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Form Filed by More Than One Reporting Person
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TABLE I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) N/A
2. Amount of Securities Beneficially Owned (Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)
4. Nature of Indirect Beneficial Ownership (Instr. 5)
* 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.
(Over)
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Form 3 (continued)
TABLE II - Derivative Securities Beneficially Owned (e.g., puts, calls,
warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) N/A
2. Date Exercisable and Expiration Date (Month/Day/Year)
Date Exercisable Expiration Date
3. Title and Amount of Securities Underlying Derivative Securities
(Instr. 4)
Title Amount or Number of Shares
4. Conversion or Exercise Price of Derivative Security
5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership (Instr. 5)
Explanation of Responses:
/s/ Naren Desai February 10, 2000
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Signature of Reporting Person** Date
NAREN DESAI
DIRECTOR
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** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
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 Instruction 6 for
procedure.
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