<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Amendment No. 3)
Under the Securities Exchange Act of 1934
THE CENTRIS GROUP, INC.
(Name of Issuer)
Common Stock, Par Value, $0.01 Per Share
(Title of Class of Securities)
91182200
(CUSIP Number)
Michael J. Halpern
1999 Avenue of the Stars, Suite 1950
Los Angeles, California 90067
(310) 201-7795
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
February 17, 1998
(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 13-d-1(b)(3) or (4), check the following
box [ ].
Page 1 of 7 Pages<PAGE>
<PAGE>
SCHEDULE 13D
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CUSIP No. 91182200 Page 2 of 7 Pages
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==============================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
Dorchester Partners, L.P.
- -----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- -----------------------------------------------------------------------------
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 SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------------------
8 SHARED VOTING POWER
359,100
- -----------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
359,100
- -----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
359,100
- -----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.0%
- -----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
==============================================================================
<PAGE>
<PAGE>
SCHEDULE 13D
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CUSIP No. 91182200 Page 3 of 7 Pages
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==============================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
Dorchester Advisors, Inc.
- -----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- -----------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- -----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E) [ ]
- -----------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- ------------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- ------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------------------
8 SHARED VOTING POWER
359,100
- -----------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
359,100
- -----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
359,100
- -----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.0%
- -----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
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<PAGE>
<PAGE>
SCHEDULE 13D
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CUSIP No. 91182200 Page 4 of 7 Pages
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==============================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
Michael J. Halpern
- -----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- -----------------------------------------------------------------------------
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 SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------------------
8 SHARED VOTING POWER
359,100
- -----------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
359,100
- -----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
359,100
- -----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.0%
- -----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
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<PAGE>
<PAGE> Page 5 of 7 Pages
SCHEDULE 13D
This Amendment No. 3 to Schedule 13D is filed by (i) Dorchester
Partners, L.P., a Delaware limited partnership ("Partners"), (ii) Dorchester
Advisors, Inc., a California corporation ("Advisors"), and (iii) Michael J.
Halpern, an individual ("Halpern"), (collectively, the "Reporting Persons")
and amends the Schedule 13D filed on November 21, 1996, as amended by
Amendment No. 1 on January 3, 1997 and Amendment No. 2 on December 1, 1997, as
follows:
Item 5. Interest in Securities of the Issuer
(a) As of the close of business on February 17, 1998, the Reporting
Persons, by virtue of the language of Rule 13d-3(d)(1)(i), may be deemed to
own beneficially in the aggregate the number and percentage of the Issuer's
Common Stock set forth opposite their names below (based upon the number of
Shares that were reported to be outstanding in the Issuer's Form 10-Q as of
September 30, 1997).
<TABLE>
<CAPTION>
==============================================================================
Name Shares of Common Stock Percentage
- -----------------------------------------------------------------------------
<S> <C> <C>
Partners 359,100 6.0%
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Advisors(1) 359,100 6.0%
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Halpern(2) 359,100 6.0%
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</TABLE>
(1) By virtue of its position as the general partner of Partners, Advisors
may be deemed to beneficially own the shares of Common Stock held by Partners.
(2) Halpern does not directly own any Common Stock, but, by virtue of his
control over the investment and voting decisions of Advisors (and therefore,
Partners), Halpern may be deemed to own beneficially the Shares held by
Partners.
(c) The following table sets forth the transactions effected by each
of the Reporting Persons listed in Item 5(a) during the past sixty days.
Unless otherwise noted, each of the transactions set forth below reflects a
sale effected ________________.
<TABLE>
<CAPTION>
==============================================================================
Trade Date Price Per Share Partners Halpern
- -----------------------------------------------------------------------------
<S> <C> <C> <C>
02/12/98 $25.75 36,000 24,000
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02/13/98 $25.50 0 16,000
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02/17/98 $25.25 18,300 1,700
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02/18/98 $25.25 5,000 0
- -----------------------------------------------------------------------------
/TABLE
<PAGE>
<PAGE> Page 6 of 7 Pages
After reasonable inquiry and to the best of our knowledge and belief,
we certify that the information set forth in this statement is true, complete
and correct.
Dated: February 20, 1998
DORCHESTER ADVISORS, INC.
By:
----------------------------------
Michael J. Halpern
President
DORCHESTER PARTNERS, L.P.
By: DORCHESTER ADVISORS, INC.
as General Partner
By:
-----------------------------------
Michael J. Halpern
President
- -------------------------------
Michael J. Halpern
108353
<PAGE>
<PAGE> Page 7 of 7 Pages
After reasonable inquiry and to the best of our knowledge and belief,
we certify that the information set forth in this statement is true, complete
and correct.
Dated: February 20, 1998
DORCHESTER ADVISORS, INC.
By: /s/ Michael J. Halpern
----------------------------------
Michael J. Halpern
President
DORCHESTER PARTNERS, L.P.
By: DORCHESTER ADVISORS, INC.
as General Partner
By: /s/ Michael J. Halpern
-----------------------------------
Michael J. Halpern
President
/s/ Michael J. Halpern
- -------------------------------
Michael J. Halpern
108353
