SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
4 Kids Entertainment, Inc.
(Name of Issuer)
Common Stock, $.01 Par Value
(Title of Class of Securities)
350865101
(CUSIP Number)
Arthur Goetchius
300 Park Avenue, 21st Fl, New York, New York 10022
(Name, address and telephone number of person
authorized to receive notices and communications)
November 6th, 1996
(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule
13G to report the acquisition which is the subject of this Schedule 13D, and
is filing this schedule because of Rule 13d-1(b)(3) or (4), check the
following box [ ].
Check the following box if a fee is being paid with the statement
[ ]. (A fee is not required only if the reporting person: (1) has a previous
statement on file reporting beneficial ownership of more than five percent of
the class of securities described in Item 1; and (2) has filed no amendment
subsequent thereto reporting beneficial ownership of five percent or less of
such class.) (See Rule 13d-7.)
NOTE: Six copies of this statement, including all exhibits,
should be filed with the Commission. See Rule 13d-1(a) for other parties to
whom copies are to be sent.
* 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 purposes 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).
PAGE 1 OF 16 PAGES
<PAGE>
13D
CUSIP No. 350865101
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON EGS Associates, L.P.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
WC
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
45,750
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
45,750
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
45,750
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 1.55%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
PN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE 2 OF 16 PAGES
<PAGE>
13D
CUSIP No. 350865101
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON EGS Partners, L.L.C.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
OO
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
52,712
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
52,712
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
52,712
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 1.79%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IA
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE 3 OF 16 PAGES
<PAGE>
13D
CUSIP No. 350865101
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON Bev Partners, L.P.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
WC
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
29,500
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
29,500
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
29,500
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
1.00%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
PN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE 4 OF 16 PAGES
<PAGE>
13D
CUSIP No. 350865101
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON Jonas Partners, L.P.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
WC
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
10,112
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
10,112
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
10,112
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) .34%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
PN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE 5 OF 16 PAGES
<PAGE>
13D
CUSIP No. 350865101
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON William Ehrman
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
AF, OO
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
138,074
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
138,074
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
138,074
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 4.69%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE 6 OF 16 PAGES
<PAGE>
13D
CUSIP No. 350865101
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON Frederic Greenberg
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
AF, OO
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
138,074
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
138,074
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
138,074
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 4.69%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE 7 OF 16 PAGES
<PAGE>
13D
CUSIP No. 350865101
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON Frederick Ketcher
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
AF, OO
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
138,074
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
138,074
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
138,074
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 4.69%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE 8 OF 16 PAGES
<PAGE>
13D
CUSIP No. 350865101
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON Jonas Gerstl
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
AF, OO, PF
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
140,724
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
143,974
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
143,974
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 4.89%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE 9 OF 16 PAGES
<PAGE>
13D
CUSIP No. 350865101
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON James McLaren
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
AF, OO
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
138,074
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
138,074
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
138,074
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 4.69%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE 10 OF 16 PAGES
<PAGE>
The initial Schedule 13D (the "Schedule 13D"), of (i) EGS Associates,
L.P., a Delaware limited partnership ("EGS Associates"), (ii) EGS Partners,
L.L.C., a Delaware limited liability company and a registered investment
adviser ("EGS Partners") (formerly EGS Partners, L.P.), (iii) Bev Partners,
L.P., a Delaware limited partnership ("Bev Partners"), (iv) Jonas Partners,
L.P., a Delaware limited partnership ("Jonas Partners"), (v) William Ehrman,
(vi) Frederic Greenberg, (vii) Frederick Ketcher and (viii) Jonas Gerstl,
relating to the common stock, par value $.01 per share (the "Common Stock"),
issued by 4 Kids Entertainment Inc. (the "Company"), is hereby amended and
restated by this Amendment No. 3 as follows:
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Item 3 as reported in Amendment No. 1 to the Schedule 13D is hereby corrected
as follows:
The net investment cost of the shares of Common Stock owned directly by
Mr. Gerstl and by members of his immediate family is approximately $36,150
(excluding commission).
Item 3 is hereby amended and restated in its entirety as follows:
The net investment cost (including commissions, if any) of the shares of
Common Stock beneficially owned by EGS Associates, EGS Partners, BEV Partners
and Jonas Partners is approximately $369,918, $324,698, $232,535, and 79,196,
respectively.
The net investment cost of the shares of Common Stock owned directly by
Mr. Gerstl and by members of his immediate family is approximately $9,356
(excluding commission).
The shares of Common Stock purchased by each of EGS Associates, EGS
Overseas, BEV Partners and Jonas Partners were purchased with the investment
capital of the respective entities and with investment capital of each
discretionary account under management of EGS Partners. The shares of Common
Stock purchased by Mr. Gerstl were purchased with personal funds or trust
funds.
The shares of Common Stock beneficially owned by EGS Associates, EGS
Partners (excluding EGS Overseas), BEV Partners, and Jonas Partners are held
in their respective commingled margin accounts, or in the case of EGS
Partners, in margin and non-margin accounts held by each discretionary account
under its management, and from time to time may have debit balances. Non-
margin accounts are maintained at Bankers Trust Company. The shares of Common
Stock owned by Mr. Gerstl, and by members of his immediate family, are held in
cash and margin accounts maintained at Morgan Stanley and Co., Inc. Since
other securities are held in such cash and margin accounts, it is
impracticable to determine the amounts, if any, of margin used with respect to
the shares of Common Stock purchased or sold. Currently, the interest rate
charged on such various margin accounts is approximately 5.5% per annum.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 3 as reported in Amendment No. 1 to the Schedule 13D is hereby corrected
as follows:
(a) (v) Mr. Gerstl owns directly, and beneficially through ownership
by members of his immediate family, 8,900 shares of Common Stock, constituting
less than 1% of the shares outstanding.
(ix) In the aggregate, the Reporting Persons beneficially own a
total of 154,224 shares of Common Stock, constituting approximately 5.24% of
the shares outstanding.
(b) (ii) Mr. Gerstl has the shared power, with members of his
immediate family, to vote on 5,650 shares and has the shared power, with
members of his immediate family, to dispose of 8,900 shares.
PAGE 11 OF 16 PAGES
<PAGE>
Item 5 is hereby amended and restated in its entirety as follows:
(a) The approximate aggregate percentage of shares of Common Stock
reported beneficially owned by each person herein is based upon 2,944,831
shares outstanding, which is the total number of shares of Common Stock
outstanding as of August 12, 1996, as reflected in the Company's quarterly
report on Form 10-Q filed with the Securities and Exchange Commission (the
"Commission") for the period ended June 30, 1996 (which is the most recent
Form 10-Q on file.)
As of the close of business on November 11, 1996:
(i) EGS Associates owns beneficially 45,750 shares of Common Stock,
constituting 1.55% of the shares outstanding.
(ii) EGS Partners owns directly no shares of Common Stock. By reason
of the provisions of Rule 13D-3 of the Securities Exchange Act of 1934, as
amended (the "Act"), EGS Partners may be deemed to own beneficially 52,712
shares (constituting 1.79% of the shares outstanding), purchased for
discretionary accounts managed by it, other than EGS Overseas.
(iii) BEV Partners owns beneficially 29,500 shares of Common Stock,
constituting approximately 1.00% of the shares outstanding.
(iv) Jonas Partners owns beneficially 10,112 shares of Common Stock,
constituting less than 1% of the shares outstanding.
(v) Mr. Gerstl owns directly, and beneficially through ownership by
members of his immediate family, 5,900 shares of Common Stock, constituting
less than 1% of the shares outstanding.
(vi) Messrs. Ehrman, Greenberg, Ketcher and McLaren own directly no
shares of Common Stock.
By reason of the provisions of Rule 13D-3 of the Act, each of the
General Partners may be deemed to own the 45,750 shares beneficially owned by
EGS Associates, the 52,712 shares beneficially owned by EGS Partners, the
29,500 shares beneficially owned by BEV Partners and the 10,112 shares
beneficially owned by Jonas Partners. When the shares beneficially owned by
EGS Associates, EGS Partners, BEV Partners and Jonas Partners are aggregated,
they total 138,074 shares of Common Stock, constituting approximately 4.69% of
the shares outstanding.
(ix) In the aggregate, the Reporting Persons beneficially own a total
of 143,974 shares of Common Stock, constituting approximately 4.89% of the
shares outstanding.
(b) (i) Each of EGS Associates, EGS Partners, BEV Partners and Jonas
Partners has the power to vote and to dispose of the shares of Common Stock
beneficially owned by it, which power may be exercised by the General
Partners. Each of the discretionary accounts is a party to an investment
management agreement with EGS Partners pursuant to which EGS Partners has
investment authority with respect to securities held in such account.
(ii) Mr. Gerstl has the shared power, with members of his immediate
family, to vote on 2,650 shares and has the shared power, with members of his
immediate family, to dispose of 5,900 shares.
(c) The trading dates, number of shares of Common Stock purchased or
sold and price per share for all transactions in the Common Stock from the
60th day prior to August 12th, 1996 until November 11th, 1996 by EGS Partners
(excluding EGS Overseas), and Mr. Gerstl are set forth in Schedules A and B,
respectively, and were all effected in the over the counter market. During
such period, none of Messrs. Ehrman, Ketcher, Greenberg, and McLaren has
entered into any transactions in the Common Stock.
PAGE 12 OF 16 PAGES
<PAGE>
(d) No person other than each respective record owner referred to
herein of shares of Common Stock is known to have the right to receive or the
power to direct the receipt of dividends from or the proceeds of sale of such
shares of Common Stock.
(e) The Reporting Persons ceased to be the beneficial owners of 5% or
more of the Common Stock of the Company on August 12, 1996.
PAGE 13 OF 16 PAGES
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete and correct.
DATED: November 14, 1996 /s/ Ellen Martino
Ellen Martino, as Attorney-In-Fact
for William Ehrman, individually, as
member of EGS PARTNERS, L.L.C., and
as general partner of each of EGS
ASSOCIATES, L.P., BEV PARTNERS, L.P.
and JONAS PARTNERS, L.P.
/s/ Frederic Greenberg
Frederic Greenberg, individually, as
member of EGS PARTNERS, L.L.C., and
as general partner of each of EGS
ASSOCIATES, L.P., BEV PARTNERS, L.P.
and JONAS PARTNERS, L.P.
/s/ Frederick Ketcher
Frederick Ketcher, individually, as
member of EGS PARTNERS, L.L.C. and
as general partner of each of EGS
ASSOCIATES, L.P., BEV PARTNERS, L.P.
and JONAS PARTNERS, L.P.
/s/ Jonas Gerstl
Jonas Gerstl, individually, as
member of EGS PARTNERS, L.L.C., and
as general partner of each of EGS
ASSOCIATES, L.P., BEV PARTNERS, L.P.
and JONAS PARTNERS, L.P.
/s/ Ellen Martino
Ellen Martino, as Attorney-In-Fact
for James McLaren, individually, as
member of EGS PARTNERS, L.L.C., and
as general partner of each of EGS
ASSOCIATES, L.P., BEV PARTNERS, L.P.
and JONAS PARTNERS, L.P.
PAGE 14 OF 16 PAGES
<PAGE>
Schedule A
EGS Partners, L.P.
(excluding EGS Overseas Fund Limited)
Transactions in the Common Stock
Price Per Share
Date of Number of (including
Transaction Shares Purchased/(Sold) Commissions, if any)
7/5/96 (11,212) 1.87
7/8/96 9,212 1.96
8/9/96 ( 2,600) 1.75
8/12/96 ( 2,650) 1.70
PAGE 15 OF 16 PAGES
<PAGE>
Schedule B
Jonas Gerstl
Transactions in the Common Stock
Price Per Share
Date of Number of (including
Transaction Shares Purchased/(Sold) Commissions, if any)
11/1/96 (1,000)* 1.75
11/6/96 (2,000)* 1.75
Transactions in the Common Stock which should have been
included in Amendment No. 1 to the Schedule 13D
3/29/96 500 * 3.00
_______________________________
* Shares held in joint accounts for the benefit of Mr. Gerstl and his
wife.
PAGE 16 OF 16 PAGES
