RRZ INVESTMENT MANAGEMENT INC /NEW
13F-HR, 2000-05-04
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

FORM 13F

FORM 13F COVER PAGE

Report for the Calendar Year or Quarter Ended:  December 31, 1997

Check here if Amendment [   ]; Amendment Number:
This Amendment (Check only one.):	[   ] is a restatement.
						[   ] adds new holdings entries.

Institutional Investment Manager Filing this Report:

Name:		RRZ Investment Management, Inc.
Address:	606 Liberty Avenue
		Suite 200
		Pittsburgh, PA  15222

13F File Number:

The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.

Person Signing this Report on Behalf of Reporting Manager:

Name:		Frank R. Burnette III
Title:		President
Phone:	412-209-9100
Signature, Place, and Date of Signing:

Frank R. Burnette III	Pittsburgh,  PA	May 4, 2000

Report Type (Check only one.):

[ X ]		13F HOLDINGS REPORT.

[    ]		13F NOTICE.

[    ]		13F COMBINATION REPORT.

List of Other Managers Reporting for this Manager:

<PAGE>





FORM 13F SUMMARY PAGE

Report Summary:

Number of Other Included Managers:		0

Form 13F Information Table Entry Total:		116

Form 13F Information Table Value Total:	$106,847


List of Other Included Managers:

 No.	13F File Number	Name




<PAGE>



<TABLE>
                                                                  FORM 13F INFORMATION TABLE
                                                           VALUE   SHARES/  SH/ PUT/ INVSTMT    OTHER          VOTING AUTHORITY
        NAME OF ISSUER          TITLE OF CLASS    CUSIP   (x$1000) PRN AMT  PRN CALL DSCRETN   MANAGERS     SOLE    SHARED    NONE
- ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
<S>                            <C>              <C>       <C>      <C>      <C> <C>  <C>     <C>          <C>      <C>      <C>
A T & T Corporation            COM              001957109      827 13495.00 SH       SOLE                 13495.00
AMR Corporation                COM              001765106      501  3895.00 SH       SOLE                  3895.00
Abbott Laboratories            COM              002824100     1078 16460.00 SH       SOLE                 16460.00
Albertson's Inc                COM              013104104      466  9860.00 SH       SOLE                  9860.00
Alcoa Inc                      COM              013817101      634  9010.00 SH       SOLE                  9010.00
Allstate Corporation           COM              020002101      884  9763.00 SH       SOLE                  9763.00
American Home Prod             COM              026609107      993 12975.00 SH       SOLE                 12975.00
American Intl Group            COM              026874107     1654 15205.00 SH       SOLE                 15205.00
Atlantic Richfield             COM              048825103      454  5670.00 SH       SOLE                  5670.00
Banc One Corporation           COM              06423A103      846 15575.00 SH       SOLE                 15575.00
Bank of America Corp           COM              060505104     1640 22470.00 SH       SOLE                 22470.00
Bank of New York Co            COM              064057102      764 13210.00 SH       SOLE                 13210.00
Bell Atlantic Corp             COM              077853109     1407 15460.00 SH       SOLE                 15460.00
Beverly Enterprises            COM              087851309      193 14850.00 SH       SOLE                 14850.00
Boeing Company                 COM              097023105     1024 20930.00 SH       SOLE                 20930.00
Bristol Myers Squibb           COM              110122108      931  9835.00 SH       SOLE                  9835.00
Burlington Resources           COM              122014103      214  4780.00 SH       SOLE                  4780.00
Campbell Soup Co               COM              134429109      886 15240.00 SH       SOLE                 15240.00
Cendant Corp                   COM              151313103      418 12155.00 SH       SOLE                 12155.00
Chase Manhattan Corp           COM              16161A108     1151 10507.00 SH       SOLE                 10507.00
Chevron Corporation            COM              166751107     1005 13055.00 SH       SOLE                 13055.00
Chrysler Corporation           COM              171196108      637 18100.00 SH       SOLE                 18100.00
Chubb Corporation              COM              171232101      779 10300.00 SH       SOLE                 10300.00
Cisco Systems Inc              COM              17275R102     1366 24497.50 SH       SOLE                 24497.50
Citigroup Inc                  COM              172967101     1230  9725.00 SH       SOLE                  9725.00
Coastal Corporation            COM              190441105      564  9100.00 SH       SOLE                  9100.00
Coca-Cola Company              COM              191216100     2697 40440.00 SH       SOLE                 40440.00
Computer Assoc Intl            COM              204912109      413  7800.00 SH       SOLE                  7800.00
Conagra Incorporated           COM              205887102      576 17400.00 SH       SOLE                 17400.00
Consol Natural Gas             COM              209615103      344  5690.00 SH       SOLE                  5690.00
Corning Incorporated           COM              219350105      281  7580.00 SH       SOLE                  7580.00
Deere & Company                COM              244199105      418  7170.00 SH       SOLE                  7170.00
Delta Air Lines Inc            COM              247361108      615  5170.00 SH       SOLE                  5170.00
Disney(Walt)Company            COM              254687106     1092 11029.00 SH       SOLE                 11029.00
Dover Corporation              COM              260003108      661 18310.00 SH       SOLE                 18310.00
Duke Energy Corp               COM              264399106      985 17795.00 SH       SOLE                 17795.00
Dupont E I DeNemours           COM              263534109      975 16240.00 SH       SOLE                 16240.00
Eastern Enterprises            COM              27637F100      269  5980.00 SH       SOLE                  5980.00
Emerson Electric Co            COM              291011104      812 14390.00 SH       SOLE                 14390.00
Entergy Corporation            COM              29364G103      354 11840.00 SH       SOLE                 11840.00
Exxon Corporation              COM              302290101     2246 36710.00 SH       SOLE                 36710.00
FPL Group Inc                  COM              302571104      464  7840.00 SH       SOLE                  7840.00
Federated Dept Store           COM              31410H101      471 10930.00 SH       SOLE                 10930.00
Fedl Natl Mtg Assn             COM              313586109     1163 20380.00 SH       SOLE                 20380.00
First Union Corp(NC)           COM              337358105      752 14664.00 SH       SOLE                 14664.00
Ford Motor Company             COM              345370100      574 11820.00 SH       SOLE                 11820.00
GTE Corporation                COM              362320103      847 16210.00 SH       SOLE                 16210.00
General Electric Co            COM              369604103     4996 68090.00 SH       SOLE                 68090.00
General Motors Corp            COM              370442105      204  3350.00 SH       SOLE                  3350.00
General Re Corp                COM              370563108      594  2800.00 SH       SOLE                  2800.00
General Signal Corp            COM              370838104      340  8060.00 SH       SOLE                  8060.00
Gillette Company               COM              375766102     1429 14230.00 SH       SOLE                 14230.00
Goodyear Tire&Rubber           COM              382550101      456  7165.00 SH       SOLE                  7165.00
Green Tree Financial           COM              393505102      358 13670.00 SH       SOLE                 13670.00
Halliburton Company            COM              406216101      528 10180.00 SH       SOLE                 10180.00
Heinz (H.J.) Company           COM              423074103      374  7360.00 SH       SOLE                  7360.00
Hershey Foods Corp             COM              427866108      347  5600.00 SH       SOLE                  5600.00
Hewlett-Packard Co             COM              428236103     1742 27920.00 SH       SOLE                 27920.00
Home Depot Inc                 COM              437076102     1166 19809.00 SH       SOLE                 19809.00
Household Intl Inc             COM              441815107      320  2510.00 SH       SOLE                  2510.00
Houston Ind Inc                COM              442161105      638 23845.00 SH       SOLE                 23845.00
Ingersoll-Rand Co              COM              456866102      456 11265.00 SH       SOLE                 11265.00
Int'l Business Mach            COM              459200101     1841 17600.00 SH       SOLE                 17600.00
Intel Corporation              COM              458140100     1509 21480.00 SH       SOLE                 21480.00
Johnson & Johnson              COM              478160104     2210 33545.00 SH       SOLE                 33545.00
Kimberly-Clark Corp            COM              494368103      598 12120.00 SH       SOLE                 12120.00
Lilly (Eli) & Co               COM              532457108     1340 19240.00 SH       SOLE                 19240.00
Lockheed Martin Corp           COM              539830109      549  5570.00 SH       SOLE                  5570.00
Lucent Technologies            COM              549463107     1241 15538.73 SH       SOLE                 15538.73
MBNA Corporation               COM              55262L100      868 31797.00 SH       SOLE                 31797.00
MCI Communications             COM              552673105      430 10035.00 SH       SOLE                 10035.00
May Dept Stores Co             COM              577778103      470  8920.00 SH       SOLE                  8920.00
McDonald's Corp                COM              580135101      712 14915.00 SH       SOLE                 14915.00
Medtronic Inc                  COM              585055106      646 12300.00 SH       SOLE                 12300.00
Mellon Financial Corp          COM              58551A108     1022 16860.00 SH       SOLE                 16860.00
Merck & Company                COM              589331107     1270 11985.00 SH       SOLE                 11985.00
Microsoft Corp                 COM              594918104     3350 25920.00 SH       SOLE                 25920.00
Mobil Corporation              COM              607059102     1082 14990.00 SH       SOLE                 14990.00
Morton Int'l Inc               COM              619335102      503 14625.00 SH       SOLE                 14625.00
Motorola Inc                   COM              620076109      568  9940.00 SH       SOLE                  9940.00
NationsBank Corp               COM              638585109     1200 19735.00 SH       SOLE                 19735.00
Newell Rubbermaid              COM              651229106      497 11705.00 SH       SOLE                 11705.00
Nike Inc CL B                  COM              654106103      723 18500.00 SH       SOLE                 18500.00
Norfolk Southrn Corp           COM              655844108      323 10575.00 SH       SOLE                 10575.00
Norwest Corporation            COM              669380107     1205 31100.00 SH       SOLE                 31100.00
Nucor Corporation              COM              670346105      404  8370.00 SH       SOLE                  8370.00
Oracle Systems Corp            COM              68389X105      727 32578.00 SH       SOLE                 32578.00
PPG Industries Inc             COM              693506107      442  7740.00 SH       SOLE                  7740.00
PepsiCo Incorporated           COM              713448108      889 24520.00 SH       SOLE                 24520.00
Pfizer Incorporated            COM              717081103     2401 32200.00 SH       SOLE                 32200.00
Philip Morris Cos              COM              718154107     1940 42870.00 SH       SOLE                 42870.00
Pioneer Hi-Bred Intl           COM              723686101      759  7080.00 SH       SOLE                  7080.00
Praxair Inc                    COM              74005P104      386  8570.00 SH       SOLE                  8570.00
Procter & Gamble Co            COM              742718109     2117 26530.00 SH       SOLE                 26530.00
Royal Dutch Pete (5)           COM              780257804     2403 44350.00 SH       SOLE                 44350.00
SBC Communications             COM              78387G103     1302 17775.00 SH       SOLE                 17775.00
Safeco Corporation             COM              786429100      578 11850.00 SH       SOLE                 11850.00
Schlumberger Ltd               COM              806857108     1359 16880.00 SH       SOLE                 16880.00
Service Corp Int'l             COM              817565104      797 21685.00 SH       SOLE                 21685.00
Sherwin-Williams Co            COM              824348106      548 19740.00 SH       SOLE                 19740.00
SprintCorp FON Group           COM              852061100      734 12520.00 SH       SOLE                 12520.00
Tele-Communications TCI Group  COM              87924V101      557 19955.00 SH       SOLE                 19955.00
Tellabs Inc                    COM              879664100      650 12295.00 SH       SOLE                 12295.00
Texas Instruments              COM              882508104      517 11490.00 SH       SOLE                 11490.00
Textron Inc                    COM              883203101      286  4570.00 SH       SOLE                  4570.00
Time Warner Inc                COM              887315109     1115 17985.00 SH       SOLE                 17985.00
Transamerica Corp              COM              893485102      758  7120.00 SH       SOLE                  7120.00
Travelers Inc                  COM              894190107      896 16638.99 SH       SOLE                 16638.99
U S West Inc                   COM              91273H101      727 16100.00 SH       SOLE                 16100.00
Wal-Mart Stores Inc            COM              931142103     1871 47435.00 SH       SOLE                 47435.00
Walgreen Company               COM              931422109      932 29720.00 SH       SOLE                 29720.00
Warner Lambert Co              COM              934488107     1138  9165.00 SH       SOLE                  9165.00
Waste Management Inc           COM              94106K101      247  8988.00 SH       SOLE                  8988.00
WillametteIndustries           COM              969133107      387 12020.00 SH       SOLE                 12020.00
Williams Cos Inc               COM              969457100      682 23930.00 SH       SOLE                 23930.00
Xerox Corporation              COM              984121103      638  8635.00 SH       SOLE                  8635.00
</TABLE>


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