1
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549 SCHEDULE 13G
(Amendment No. 8)
Under the Securities Exchange Act of
1934
First Financial Fund, Inc.
(Name of Issuer)
Common Stock $.001 par value
(Title of Class of Securities)
(CUSIP Number)
320-228-10-9
Check the following box if a fee is being paid with this
statement [ ].
The information required on 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.
<PAGE>
Cusip Number: 320-228-10-9
1
Name of Reporting Person and S.S. or I.R.S.
Identification Number of Above Person:
Tiger Management L.L.C.
2
Check the Appropriate Box if a Member of a Group:
(a)
(b)
3
SEC Use Only:
4
Citizenship or Place of Organization:
5 Sole Voting Power: -0-
6 Shared Voting Power: -0-
7 Sole Dispositive Power: -0-
8 Shared Dispositive Power: -0-
9
Aggregate Amount Beneficially Owned by Each
Reporting Person: -0-
10
Check if the Aggregate Amount in Row (9) Excludes
Certain Shares:
11
Percent of Class Represented by Amount in Row (9):
0%
12
Type of Reporting Person:
IA
<PAGE>
Cusip Number: 320-228-10-9
1
Name of Reporting Person and S.S. or
I.R.S. Identification Number of Above
Person:
Tiger Performance L.L.C.
2
Check the Appropriate Box if a Member of
a Group:
(a)
(b)
3
SEC Use Only:
4
Citizenship or Place of Organization:
5 Sole Voting Power: -0-
6 Shared Voting Power: -0-
7 Sole Dispositive Power: -0-
8 Shared Dispositive Power: -0-
9
Aggregate Amount Beneficially Owned by Each
Reporting Person
0%
10
Check if the Aggregate Amount in Row (9) Excludes
Certain Shares:
11
Percent of Class Represented by Amount in Row (9):
0%
12
Type of Reporting Person:
IA
<PAGE>
Cusip Number: 320-228-10-9
1
Name of Reporting Person and S.S. or I.R.S.
Identification Number of Above Person:
Panther Partners, L.P
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: -0-
6 Shared Voting Power: -0-
7 Sole Dispositive Power: -0-
8 Shared Dispositive Power: -0-
9
Aggregate Amount Beneficially Owned by Each
Reporting Person: -0-
10
Check if the Aggregate Amount in Row (9)
Excludes Certain Shares:
11
Percent of Class Represented by Amount in Row
(9): 0%
12
Type of Reporting Person:
IV PN
<PAGE>
Cusip Number: 320-228-10-9
1
Name of Reporting Person and S.S. or I.R.S.
Identification Number of Above Person:
Panther Management Company, L.P
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: -0-
6 Shared Voting Power: -0-
7 Sole Dispositive Power: -0-
8 Shared Dispositive Power: -0-
9
Aggregate Amount Beneficially Owned by Each
Reporting Person: 0%
10
Check if the Aggregate Amount in Row (9) Excludes
Certain Shares:
11
Percent of Class Represented by Amount in Row (9):
0%
12
Type of Reporting Person:
IA PN
<PAGE>
Cusip Number: 320-228-10-9
1
Name of Reporting Person and S.S. or I.R.S.
Identification Number of Above Person:
Julian H. Robertson, Jr.
2
Check the Appropriate Box if a Member of a Group:
(a)
(b)
3
SEC Use Only
4
Citizenship or Place of Organization:
U.S
5 Sole Voting Power: 11,104
6 Shared Voting Power: -0-
7 Sole Dispositive Power: 11,104
8 Shared Dispositive Power: -0-
9
Aggregate Amount Beneficially Owned by Each
Reporting Person:
11,104
10
Check if the Aggregate Amount in Row (9) Excludes
Certain Shares:
11
Percent of Class Represented by Amount in Row (9):
0.1%
12
Type of Reporting Person:
IN
<PAGE>
Item 1(a)
First Financial Fund, Inc.
Item 1(b)
One Seaport Plaza, New York, New York 10292
Item 2(a)
This statement is filed on behalf of Tiger Management
L.L.C. ("TMLLC"), Tiger Performance L.L.C. ("TPLLC"),
Panther Partners, L.P. ("Panther") and Panther
Management Company, L.P. ("PMCLP").
Julian H. Robertson, Jr. is the ultimate controlling
person of TMLLC, TPLLC and PMCLP.
Item 2(b)
The address of each reporting person is 101 Park
Avenue, New York, NY 10178
Item 2(c)
Incorporated by reference to item (4) of the cover page
pertaining to each reporting person.
Item 2(d)
Common Stock $.001 par value
Item 2(e)
320-228-10-9
Item 3
Panther is an investment company registered under
Section 8 of the Investment Company Act. Each of TMLLC,
TPLLC and PMCLP is an investment adviser registered
under Section 203 of the Investment Advisers Act of
1940.
Item 4
Ownership as of December 31, 1996 is incorporated by
reference to items (5) - (9) and (11) of the cover page
pertaining to each reporting person.
Item 5
The reporting persons have ceased to be the beneficial
owners of more than 5% of the class.
Item 6
Not applicable
Item 7
Not applicable
Item 8
Not applicable
<PAGE>
Item 9
Not applicable
Item 10
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 purpose or effect.
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.
February 10, 1997
TIGER MANAGEMENT L.L.C.
/s/ Nolan Altman,
Chief Financial Officer
TIGER PERFORMANCE L.L.C.
/s/ Nolan Altman,
Chief Financial Officer
PANTHER PARTNERS, L.P.
By: Panther Management Company, L.P., its General
Partner By: Panther Management Corporation, its General
Partner
/s/ Nolan Altman,
Chief Financial Officer
PANTHER MANAGEMENT COMPANY, L.P.
By: Panther Management Corporation, its General
Partner
/s/ Nolan Altman,
Chief Financial Officer
JULIAN H. ROBERTSON, JR.
By: /s/ Nolan Altman
Under Power of Attorney dated
1/27/95
On File with Schedule 13G for
Kohl's Corp. 2/7/95
<PAGE>
AGREEMENT
The undersigned agree that this Amendment No. 8 to
Schedule 13G dated February 10, 1997 relating to shares
of common stock of First Financial Fund, Inc. shall be
filed on behalf of each of the undersigned.
TIGER MANAGEMENT L.L.C.
/s/ Nolan Altman,
Chief Financial Officer
TIGER PERFORMANCE L.L.C.
/s/ Nolan Altman,
Chief Financial Officer
PANTHER PARTNERS, L.P.
By: Panther Management Company, L.P., its
General Partner By: Panther Management
Corporation, its General Partner
/s/ Nolan Altman,
Chief Financial Officer
PANTHER MANAGEMENT COMPANY, L.P.
By: Panther Management Corporation, its
General Partner
/s/ Nolan Altman,
Chief Financial Officer
JULIAN H. ROBERTSON, JR.
By: /s/ Nolan Altman
Under Power of Attorney dated
1/27/95
On File with Schedule 13G for
Kohl's Corp. 2/7/95
