U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 4 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
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<TABLE>
<CAPTION>
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
<S> <C> <C> <C> <C>
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1. Name and Address of Reporting Person 2. Issuer Name and Ticker or Trading Symbol 6. Relationship of Reporting Person
to Issuer (Check all applicable)
Fant Anthony J. HEI, Inc. (HEII)
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_______________________________________ 3. IRS or Social Security 4. Statement for X Director X 10% Owner
(Last) (First) (Middle) Number of Reporting Month/Year --- ---
Person (Voluntary) ___ Officer (give ____ Other
August 1998 title below) (specify
below)
2154 Highland Avenue 5. If Amendment,
____________________________________________________ Date of Original
(Street) (Month/Year)
Birmingham AL 35205
____________________________________________________
(City) (State) (Zip) 7. Individual or Joint/Group Filing
(Check Applicable Line)
X Form filed by One Reporting Person
---
___ Form filed by More than one
Reporting Person
</TABLE>
<TABLE>
<CAPTION>
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TABLE I -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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<S> <C> <C> <C> <C> <C> <C>
1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
(Instr. 3) action action or Disposed of (D) Securities ship of In-
Date Code (Instr. 3, 4 and 5) Beneficially Form: direct
(Month/ (Instr. 8) Owned at Direct Bene-
Day/ End of (D) or Ficial
Year) Month Indirect Owner-
(Instr. 3 (I) Ship
and 4) (Instr. 4) (Instr. 4)
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Code V Amount (A) or Price
(D)
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Common Stock $.05 par value 8/28/98 P 470,948 A $9.000 1,195,848 (D)
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Common Stock $.05 par value 10,000 (I) By Corporation
(1)
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*If the form is filed by more than reporting person, see Instruction 4(b)(v).
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
(Print or Type Responses)
TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of 2. Conver- 3. Trans- 4. Transac- 5. Number of 6. Date Exer- 7. Title and 8. Price 9. Number 10. Owner- 11. Na-
Derivative sion or action tion Derivative cisable and Amount of of of Ship ture
Security Exercise Date Code Securities Expiration Underlying Deriva- Deriva- Form of of
(Instr. 3) Price of (Instr. 8) Acquired (A) Date (Month/ Securities tive tive Deriva- In-
Deriva- (Month/ or Disposed Day/Year) (Instr.3 Security Securi- tive di-
tive Day/ of (D) and 4) (Instr. 5) ties Bene- Security: rect
Security Year) (Instr. 3, ficially Direct Bene-
4, and 5) Owned at (D) or fi-
End of Indirect cial
Month (I) Own-
(Instr. 4) (Instr. 4) er-
ship
------------------------------------- (Instr.
Date Expir- 4)
Exer- ation Amount or
cisable Date Title Number of
Shares
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Code V (A) (D)
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</TABLE>
Explanation of Responses:
(1) Shares held by Fant Industries Inc. of which Reporting Person is sole
stockholder, Director and President.
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
/s/ Anthony J. Fant September 3, 1998
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**Signature of Reporting Person Date
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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