UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 3--AMENDMENT
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
First Magnum Corporation
125 Worth Avenue, Suite 318
Palm Beach, FL 33480
2. DATE OF EVENT REQUIRING STATEMENT
August 19, 1996
3. IRS OR SOCIAL SECURITY NUMBER OF REPORTING PERSON (VOLUNTARY)
65-0664262
4. ISSUER NAME AND TICKER OR TRADING SYMBOL
Seal Fleet, Inc. and SEALA
5. RELATIONSHIP OF REPORTING PERSON(S) TO ISSUER
10 % Owner
6. IF AMENDMENT, DATE OF ORIGINAL (MONTH/DAY/YEAR)
Not Applicable.
7. INDIVIDUAL OR JOINT/GROUP/FILING
Form filed by One Reporting Person.
TABLE I - NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
1. TITLE OF SECURITY
(a) Seal Fleet, Inc. Class A Common Stock
(b) Seal Fleet, Inc. Class A Common Stock
(C) Seal Fleet, Inc. Class B Common Stock
2. AMOUNT OF SECURITIES BENEFICIALLY OWNED
(a) 277,778 shares
(b) 37,600 shares
(c) 50,000 shares
3. OWNERSHIP FORM: DIRECT (D) OR INDIRECT (I)
(a) Direct
(b) Direct
(c) Direct
4. NATURE OF INDIRECT BENEFICIAL OWNERSHIP
(a) Not Applicable
(b) Not Applicable
(c) Not Applicable
FIRST MAGNUM CORPORATION
By: /s/Thomas M. Ferguson
Signature of Reporting Person
Date: September 10, 1996
