UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 5
ANNUAL STATEMENT OF CHANGES OF BENEFICIAL OWNERSHIP
1. Name and Address of Reporting Person
Queensway Financial Holdings Limited
90 Adelaide Street West, Suite 500
Toronto, Ontario
M5H 3V9
CANADA
2. Issuer Name and Ticker or Trading Symbol
ACMAT Corp, ACMTA
3. IRS or Social Security Number of Reporting Person (Voluntary)
N/a
4. Statement for Month/Year
12/1999
5. If Amendment, Date of Original (Month/Year)
5/1997
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director
( ) Officer (give title below)
(x) 10% Owner
( ) Other (specify below)
7. Individual or Joint/Group Filing (Check Applicable Line)
(x) Form filed by One Reporting Person
( ) Form filed by More than Once Reporting Person
________________________________________________________________________________
_________________________________________
Table I - Non-Derivative Securities Beneficially Owned
________________________________________________________________________________
_________________________________________
1.Title of 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6.
Ownership Form: 7:Nature of Indirect
Security action action or Disposed of (D) Securites
Direct (D) or Beneficial
Date Code Benefically Indirect (I)
Ow
nership
Owned at End
of Month
________________________________________________________________________________
________________________________________
Amount (A) Price
or (D)
________________________________________________________________________________
________________________________________
Class A
________________________________________________________________________________
_________________________________________
454,050 D
________________________________________________________________________________
_________________________________________
________________________________________________________________________________
_________________________________________
________________________________________________________________________________
_________________________________________
Table II - Derivative Securities Beneficially Owned (e.g. puts, calls,
warrants, options, convertible securities)
________________________________________________________________________________
_________________________________________
No reportable transactions
________________________________________________________________________________
_________________________________________
Explanation of Responses:
Signature of Reporting Person:
Allison Knudsen
Queensway Financial Holdings Limited
Date:
02/14/2000
