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<PAGE>
FORM 4
U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
<square>Check this box if no longer
subject to Section 16. Form 4
or Form 5 obligations
may continue. SEE Instruction 1(b).
Filed pursuant to Section 16(a) of the
Securities 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
<TABLE>
<CAPTION>
1. Name and Address of Reporting Person 2. Issuer Name and Ticker or Trading Symbol 6. Relationship of Reporting Person
to Issuer
SHOGEN, KUSLIMA ALFACELL CORPORATION (ACEL) (Check all applicable)
___X____ Director______ 10% Owner
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
(Last) (First) (Middle) 3. IRS or Social 4. Statement for ___X____ Officer ______ Other
Security Number of Month/Year (give title below)
C/O ALFACELL CORPORATION, 225 BELLEVILLE Reporting Person (specify below)
AVENUE (Voluntary) AUGUST 1996 (1)
CHIEF EXECUTIVE OFFICER AND CHAIRMAN
(Street) 5. If Amendment,
Date of Original
BLOOMFIELD, NEW JERSEY 07003 (Month/Year)
(City) (State) (Zip)
TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired 5. Amount of 6. Owner- 7. Nature
(Instr. 3) action action (A) or Disposed of Securities ship of In-
Date Code (D) Beneficially Form: direct
(Month/ (Instr. (Instr. 3, 4 and 5) Owned at (D) or Bene-
Day/ 8) End of Indirect ficial
Year) Month (I) Owner-
(Instr. 3 (Instr. ship
and 4) 4) (Instr.
4)
Code V Amount (A) or Price
(D)
Common Stock 8/1/96 S 5,000 D $4.68
Common Stock 8/5/96 S 5,000 D $4.75
Common Stock 8/6/96 S 10,000 D $4.87
Common Stock 8/6/96 S 5,000 D $4.75
Common Stock 8/8/96 S 15,000 D $4.87
Common Stock 8/14/96 S 2,000 D $4.56
Common Stock 8/15/96 S 5,000 D $4.37
Common Stock 8/16/96 S 5,000 D $4.37
Common Stock 8/19/96 S 10,000 D $4.44
Common Stock 8/20/96 S 15,000 D $4.56
Common Stock 8/20/96 S 10,000 D $4.50
Common Stock 8/21/96 S 7,000 D $4.43
</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Over)
<PAGE>
FORM 4 (CONTINUED)
<TABLE>
<CAPTION>
TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(CON'T)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1. Title of Security 2. Trans- 3. Trans- 4.Securities Acquired 5. Amount of 6. Owner- 7. Nature
(Instr. 3) action action (A) or Disposed of (D) Securities ship of In-
Date Code (Instr. 3, 4 and 5) Beneficially Form: direct
(Month/ (Instr. Owned at (D) or Bene-
Day/ 8) End of Indirect ficial
Year) Month (I) Owner-
(Instr. 3 (Instr. ship
and 4) 4) (Instr.
4)
Code V Amount (A) or Price
(D)
Common Stock 8/22/96 S 7,000 D $4.43
Common Stock 8/23/96 S 3,000 D $4.38
Common Stock 8/26/96 S 4,000 D $4.50
Common Stock 8/26/96 S 50,000 D $4.75
Common Stock 8/27/96 S 3,000 D $4.69
Common Stock 8/27/96 S 9,000 D $4.69
Common Stock 8/27/96 S 15,000 D $4.63
$4.75
Common Stock 8/28/96 S 20,000 D
$4.69
Common Stock 8/28/96 S 10,000 D
$4.81
Common Stock 8/29/96 S 14,000 D
$4.88
Common Stock 8/29/96 S 7,500 D
Common Stock 8/29/96 S 23,800 D $4.94
Common Stock 7/30/96 S 5,000 D $4.63 1,059,000 D ---
284,000 I By Trust
</TABLE>
<PAGE>
FORM 4 (CONTINUED)
TABLE II - DERIVATIVE SECURITIES ACQUIRED,
DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., puts, calls, warrants,
options, convertible securities)
<TABLE>
<CAPTION>
1. Title of Derivative 2.Conver3.Trans-4.Transac-5.Number of6.Date 7.Title and Amount of 8.Price9.Number10. 11. Na-
Security sion action tion Deriv- ExercisableUnderlying Securities of of Owner- ture
(Instru. 3) or Date Code ative and (Instr. 3 and 4) Deriv-Deriv- ship of In-
Exercise(Month/Day/(Instr.SecuritiesExpiration ative ative Form direct
Price Year)8) Ac- Date Secur-Secur- of De- Bene-
of quired (A) (Month/Day/ ity ities ficial
Deriv- or Year) (Instr.Bene- rivative Own-
ative Disposed 5) ficially Secu- ership
Security of (D) Owned ity: (Instr. 4)
(Instr. 3, at End (D) or
4, and 5) of Indi-
Month rect
(Instr. (I)
4) (Instr.
4)
<S> <C> <C> <C><C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CodeV (A) (D) Date Expira- Title Amount
Exer- tion or
cisableDate Number
of
Shares
Stock Option Common
(right to buy) $3.87 8/1/96 x 5,000 9/16/92 9/16/96 Stock 5,000 $3.87
Stock Option Common
(right to buy) $3.87 8/5/96 x 5,000 9/16/92 9/16/96 Stock 5,000 $3.87
Stock Option Common
(right to buy) $3.87 8/6/96 x 15,000 9/16/92 9/16/96 Stock 15,000 $3.87
Stock Option Common
(right to buy) $3.87 8/8/96 x 15,000 9/16/92 9/16/96 Stock 15,000 $3.87
Stock Option Common
(right to buy) $3.87 8/14/96 x 2,000 9/16/92 9/16/96 Stock 2,000 $3.87
Stock Option Common
(right to buy) $3.87 8/15/96 x 5,000 9/16/92 9/16/96 Stock 5,000 $3.87
Stock Option Common
(right to buy) $3.87 8/16/96 x 5,000 9/16/92 9/16/96 Stock 5,000 $3.87
Stock Option Common
(right to buy) $3.87 8/19/96 x 10,000 9/16/92 9/16/96 Stock 10,000 $3.87
Stock Option Common
(right to buy) $3.87 8/20/96 x 25,000 9/16/92 9/16/96 Stock 25,000 $3.87
Stock Option Common
(right to buy) $3.87 8/21/96 x 7,000 9/16/92 9/16/96 Stock 7,000 $3.87
Stock Option Common
(right to buy) $3.87 8/22/96 x 7,000 9/16/92 9/16/96 Stock 7,000 $3.87
Stock Option Common
(right to buy) $3.87 8/23/96 x 3,000 9/16/92 9/16/96 Stock 3,000 $3.87
</TABLE>
<PAGE>
FORM 4 (CONTINUED)
TABLE II - DERIVATIVE SECURITIES ACQUIRED,
DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., puts, calls, warrants, options,
convertible securities) (Con't)
<TABLE>
<CAPTION>
1. Title of Derivative 2.Conver3.Trans-4.Transac-5.Number of6.Date 7.Title and Amount of 8.Price9.Number10. 11. Na-
Security sion action tion Deriv- ExercisableUnderlying Securities of of Owner- ture
(Instru. 3) or Date Code ative and (Instr. 3 and 4) Deriv-Deriv- ship of In-
Exercise(Month/Day/(Instr.SecuritiesExpiration ative ative Form direct
Price Year)8) Ac- Date Secur-Secur- of De- Bene-
of quired (A) (Month/Day/ ity ities ficial
Deriv- or Year) (Instr.Bene- rivative Own-
ative Disposed 5) ficially Secu- ership
Security of (D) Owned ity: (Instr. 4)
(Instr. 3, at End (D) or
4, and 5) of Indi-
Month rect
(Instr. (I)
4) (Instr.
4)
<S> <C> <C> <C><C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CodeV (A) (D) Date Expira- Title Amount
Exer- tion or
cisableDate Number
of
Shares
Stock Option Common
(right to buy) $3.87 8/26/96 x 54,000 9/16/92 9/16/96 Stock 54,000 $3.87
Stock Option Common
(right to buy) $3.87 8/27/96 x 27,000 9/16/92 9/16/96 Stock 27,000 $3.87
Stock Option Common
(right to buy) $3.87 8/28/96 x 30,000 9/16/92 9/16/96 Stock 30,000 $3.87
Stock Option Common
(right to buy) $3.87 8/29/96 x 45,300 9/16/92 9/16/96 Stock 45,300 $3.87
Stock Option Common
(right to buy) $3.87 7/30/96 x 5,000 9/16/92 9/16/96 Stock 5,000 $3.87 152,200 D ---
</TABLE>
Explanation of Responses:
(1) This report also includes a transacation inadvertently excluded from the
reporting person's Form 4 for the month of July.
/s/KEVIN T. COLLINS 9/10/96
**Signature of Reporting Person Date
Kevin T. Collins, as Attorney-in-fact
** 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.
SEC 1474 (8-92)
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