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: FORM 4 :
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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
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
|X| CHECK THIS BOX IF NO LONGER SUBJECT TO SECTION 16. FORM 4
OR FORM 5 OBLIGATIONS MAY CONTINUE. SEE INSTRUCTION 1(b).
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1. Name and Address of Reporting Person*
Compagnie Generale d'Industrie et de Participations
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(Last) (First) (Middle)
89 rue Taitbout
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(Street)
75009 Paris, France
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Crown Cork & Seal Company, Inc. CCK
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3. IRS or Social Security Number of Reporting Person (Voluntary)
None
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4. Statement for Month/Year
March 1998
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer (Check all applicable)
_____ Director _X__ 10% Owner
_____ Officer (give title below) ____ Other (Specify below)
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7. Individual or Joint/Group Filing (Check applicable line)
__X__ Form filed by one Reporting Person
_____ Form filed by more than one Reporting Person
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* If the Form is filed by more than one Reporting Person, see Instruction
4(b)(v).
<PAGE>
TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
<TABLE>
<CAPTION>
1.Title of Security 2.Trans- 3.Trans- 4.Securities Acquired (A) 5.Amount of 6.Ownership 7.Nature of
(Instr. 3) action action or Disposed of (D) Securities Bene- Form: Direct Indirect
Date Code (Instr. 3, 4 and 5) ficially Owned (D) or Beneficial
(Month/ (Instr. 8) ------------------------ at End of Indirect (I) Ownership
Day/ ------------ Amount (A) or Price Month (Instr. (Instr. 4) (Instr. 4)
Year) Code V (D) 3 and 4)
- ------------------- --------- ------------ ------------------------ ------------------ -------------- ---------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock, par 3/2/98 S V 4,093,826 D $49.00 6,599,577 shares D
value $5.00 per shares
share
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
(Print or Type Responses)
</TABLE>
<PAGE>
FORM 4 (CONTINUED)
TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
1. Title of Derivative Security (Instr. 3)
4.5% Convertible Preferred Stock, par value $41.8875 per share
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2. Conversion or Exercise Price of Derivative Security
$45.97*
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3. Transaction Date (Month/Date/Year)
3/2/98
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4. Transaction Code (Instr. 8)
Code V
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S V
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5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
(A) (D)
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3,660,300
shares
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6. Date Exercisable and Expiration Date (Month/Day/Year)
Date Exercisable Expiration Date
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2/26/96* 2/26/00**
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7. Title and Amount of Underlying Securities (Instr. 3 and 4)
Title Amount or Number of Shares
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Common Stock, 3,335,125 shares*
par value $5.00
per share
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8. Price of Derivative Security (Instr. 5)
$46.00
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9. Number of Derivative Securities Beneficially Owned at End of Month
(Instr. 4)
0 shares
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10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
D
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11. Nature of Indirect Beneficial Ownership (Instr. 4)
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<PAGE>
Explanation of Responses:
* At any time after the date of initial issuance of the 4.5% Convertible
Preferred Stock, each share of Crown 4.5% Convertible Preferred Stock
will be convertible at the option of the holder into fully paid and
nonassessable shares of Common Stock, at the rate of that number of
shares of Common Stock for each share of 4.5% Convertible Preferred
Stock that is equal to the par value of such share divided by the
Conversion Price applicable per share of Common Stock. The "Conversion
Price" applicable per share of Common Stock will initially be an amount
equal to 1.0975 times the par value of the 4.5% Convertible Preferred
Stock and is subject to adjustment as set forth in Crown Cork & Seal
Company, Inc.'s ("Crown") articles of incorporation.
** On the Latest Mandatory Conversion Date, which is the fourth
anniversary of the date of original issuance of the 4.5% Convertible
Preferred Stock, all of the 4.5% Convertible Preferred Stock will
convert into shares of Common Stock as set forth in Crown's articles of
incorporation. In addition, if, at any time prior to the Latest
Mandatory Conversion Date less than 30% of the number of shares of 4.5%
Convertible Preferred Stock initially issued remain outstanding, the
remaining shares of 4.5% Convertible Preferred Stock will, at the
election of Crown and after notice has been provided, convert into shares
of Common Stock as set forth in Crown's articles of incorporation.
/s/ ERNEST-ANTOINE SEILLIERE March 27, 1998
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***Signature of Reporting Person Date
Ernest-Antoine SEILLIERE
Chairman and CEO
*** 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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