UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
(Amendment No. 1)
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Alpine Group Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
02082510
(CUSIP Number)
APRIL 30,1998
(Date of Event Which Requires Filing of this Statement)
[X] Rule 13d-1(b)
[ ] Rule 13d-(c)
[ ] Rule 13d-1(d)
(1) Names of Reporting Persons; S.S. or I.R.S. Identification Nos. of
Reporting Persons
Union Bank of Switzerland, None
(2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b)
(3) SEC Use Only
(4) Citizenship or Place of Organization
Switzerland
Number of Shares Beneficially Owned by Each Reporting Person With
(5)
Sole Voting Power
(6)
Shared Voting Power
(7)
Sole Dispositive Power
(8)
Shared Dispositive Power
(9) Aggregate Amount Beneficially Owned by Each Reporting Person
(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
(11) Percent of Class Represented by Amount in Row (9)
(12)Type of Reporting Person (See Instructions)
BK
Item 1 (a)
Name of Issuer:
Alpine Group Inc.
Item 1 (b)
Address of Issuer's Principal Executive Offices:
1790 Broadway, Suite 1500, New York, NY 10019
Item 2 (a)
Name of Persons Filing:
Union Bank of Switzerland
Item 2 (b)
Addresses of Principal Business Offices or, if none, Residence:
Bahnhofstrasse 45, 8021 Zurich, Switzerland
Item 2 (c)
Citizenship:
Switzerland
Item 2 (d)
Title of Class of Securities:
Common Stock
Item 2 (e)
CUSIP Number:
02085210
Item 3
If this statement is filed pursuant to Rules 13d-1(b), or 13(d)-2(b),
check whether the person filing is a:
(a) Broker or Dealer registered under Section 15 of the Act
(b) X Bank as defined in section 3(a) (6) of the Act
(Note: Union Bank of Switzerland is classified pursuant to no-action
relief by the staff of the Securities and Exchange Commission in a
letter dated November 1992.)
(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) Investment Adviser registered under section 240.13d-1(b)(1)(ii)(E)
(f) An employee benefit plan or endowment fund in accordance section
240.13d-1(b)(1)(ii)(F).
(g) A parent holding company or control person in accordance with section
240.13d-1(b)(ii)(G).
(h) A savings association as defined in Section 3(b) of the Federal
Deposit Insurance Act.
(i) A church plan that is excluded from the definition of an investment
company under section 3(c)(14) of the Investment Company Act of 1940.
Group, in accordance with section 240.13d-1(b)(1)(ii)(J)
If this statement is filed pursuant to section 240.13d-1(c), check
this box.
Item 4
Ownership
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(a) Amount Beneficially owned:
(b) Percent of Class:
* The filing of this statement should not be construed as an admission that
the Union Bank Of Switzerland is, for purposes of section 13(d), or
section 13(g) of the Act, the beneficial owner of the securities covered
this statement.
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote
(ii) shared power to vote to or to direct the vote
(iii) sole power to dispose or to direct the disposition of
(iv) shared power to dispose or to direct the disposition of
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 five
percent of the class of securities, check the following. X
6 Ownership of More than Five Percent on Behalf of Another Person.
Not Applicable
Item 7 Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on By the Parent Holding Company
Not Applicable
Item 8 Identification and Classification of Members of the Group
Not Applicable
Item 9 Notice of Dissolution of Group
Not Applicable
Item 10 Certification
Not Applicable
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 May 11,1998
Union Bank of Switzerland
By:
Name: Louis R. Eber
Title: Managing Director
By:
Name: Janet R. Zimmer
Title: Managing Director
