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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. __2__)*
Excalibur Technologies Corporation
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(Name of Issuer)
Common
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(Title of Class of Securities)
30065120
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(CUSIP Number)
Check the following box if a fee is being paid with this statement /X/.
(A fee is not required only if the filing person: (1) has a previous
statement on file reporting beneficial ownership of more than five percent
of the class of securities described in Item l; and (2) has filed no
amendment subsequent thereto reporting beneficial ownership of five
percent or less of such class.) (See Rule 13d-7).
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of
the Act (however, see the Notes).
SEC 1745 (2/92) Page 1 of 8 pages
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CUSIP No. 30065120 13G Page 2 of 8 Pages
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Mitchell Hutchins Asset Management Inc.
IRS ID No.: 13-2895752
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) /__/
(b) /__/
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
5 SOLE VOTING POWER
NUMBER OF 0
SHARES 6 SHARED VOTING POWER
480,000
BENEFICIALLY
OWNED BY 7 SOLE DISPOSITIVE POWER
0
EACH
REPORTING
PERSON 8 SHARED DISPOSITIVE POWER
480,000
WITH
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
480,000 (Not to be construed as an admission of beneficial
ownership)
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
4.15
12 TYPE OF REPORTING PERSON*
CO, BD, IA
SEC 1745 (2/92) Page 2 of 8 pages
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CUSIP No. 30065120 13G Page 3 of 8 Pages
Item 1.
(a) Name of Issuer
Excalibur Technologies Corporation
(b) Address of Issuer's Principal Executive Offices
9255 Towne Center Drive - 9th Floor
San Diego, CA 92121
Item 2.
(a) Name of Person Filing
Mitchell Hutchins Asset Management Inc.
(b) Address of Principal Business Office or, if none,
Residence:
1285 Avenue of the Americas
New York, NY 10019
(c) Citizenship
Delaware
(d) Title of Class of Securities
Common
(e) CUSIP Number
30065120
Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b),
check whether the person filing is a:
(a) /X/ Broker or Dealer registered under Section 15 of
the Act
(b) /__/ Bank as defined in section 3(a)(6) of the Act
(c) /__/ Insurance Company as defined in section 3(a)(19)
of the act
(d) /__/ Investment Company registered under section 8 of
the Investment Company Act
(e) /X/ Investment Adviser registered under section 203
of the Investment Advisers Act of 1940
(f) /_/ Employee Benefit Plan, Pension Fund which is
subject to the provisions of the Employee
SEC 1745 (2/92) Page 3 of 8 pages
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CUSIP No. 30065120 13G Page 4 of 8 Pages
Retirement Income Security Act of 1974 or
Endowment Fund; see 240.13d-l(b)(l)(ii)(F)
(g) /_/ Parent Holding Company, in accordance with
240.13d-l(b)(ii)(G) (Note: See Item 7)
(h) /_/ Group, in accordance with 240.13d-l(b)(l)(ii)(H)
Item 4. Ownership
Mitchell Hutchins Asset Management Inc. ("MHAM") disclaims direct
beneficial ownership of the securities of Excalibur Technologies
Corporation reported herein, and the filing of this Schedule 13G
shall not be construed as an admission that MHAM is the
beneficial owner of any Excalibur Technologies Corporation
securities.
(a) Amount Beneficially Owned
See line item (9) of the cover page.
(b) Percent of Class
See line item (11) of the cover page.
(c) Number of shares as to which such person has:
(i) Sole Power to vote or to direct the vote:
See line item (5) of the cover pages.
(ii) Shared Power to vote or to direct the vote:
See line item (6) of the cover pages.
(iii) Sole Power to dispose or to direct the
disposition of:
See line item (7) of the cover pages.
(iv) Shared Power to dispose or to direct the
disposition of:
See line item (8) of the cover pages.
Item 5. Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of
the date hereof the reporting person has ceased to be the
beneficial owner of more than 5 percent of the class of
securities, check the following (X).
SEC 1745 (2/92) Page 4 of 8 pages
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CUSIP No. 30065120 13G Page 5 of 8 Pages
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Various persons have the right to receive, or the power to direct
the receipt of, dividends or proceeds from the sale of securities
reported herein.
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on By the Parent Holding Company:
N/A
Item 8. Identification and Classification of Members of the Group
N/A
Item 9. Notice of Dissolution of Group
N/A
Item 10. Certification
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the purpose
of and do not have the effect of changing or influencing the
control of the issuer of such securities and were not acquired in
connection with or as a participant in any transaction having
such purposes or effect.
Signature:
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this
statement is true, complete and correct.
Date: February 13, 1996 /s/ Michael Katz *
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Michael Katz
Chief Financial Officer
& Senior Vice President
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* Signature affixed by Hiam Arfa pursuant to a power of attorney
dated February 9, 1996 and incorporated by reference from
Schedule 13G filed with the Securities and Exchange Commission by
Mitchell Hutchins Asset Management Inc. et al. on February 13,
1996 with respect to Flowers Industries, Inc.
SEC 1745 (2/92) Page 5 of 8 pages
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