UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
[ ] Check this box if no longer subject to Section 16.
Form 4 or form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person
James J. Wilson
5160 Parkstone Drive, Suite 110
Chantilly, VA 20151
2. Issuer Name and Ticker or Trading Symbol
Interstate General Company L.P. (IGC)
3. I.R.S. or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
December 1998
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person to Issuer (Check all applicable)
[X] Director [ ] 10% Owner [X] Officer (give title below) [ ] Other
(specify below) Chief Executive Officer
7. Individual or Joint/Group Filing (Check applicable line)
[X] Form Filed by One Reporting Person
[ ] Form Filed by More than One Reporting Person
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Table I Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
action action or Disposed of (D) Securities ship of
Date Code Beneficially Form: Indirect
Owned at End Direct Bene-
of Month (D) or ficial
(Month/ A/ Indirect Owner-
Day/Year) Code V Amount D Price (I) ship
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Units representing 10/19/98 J V * 6,115 D
beneficial assignment
of Class A limited
partnership interest
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Table II Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1. Title of Derivative 2. Conver- 3. Trans- 4. Transaction 5. Number of Derivative 6. Date Exercisable
Security sion or action Code Securities Acquired and Expiration
Exercise Date (A) or Disposed of (D) Date
Price of (Month/Day/Year)
Deriva- Date Expira-
tive (Month/ Exer- tion
Security Day/Year) Code V (A) (D) cisable Date
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Table II Derivative Securities Acquired, Disposed of, or Beneficially Owned (Continued)
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7. Title and Amount of Underlying 8. Price of 9. Number of 10. Ownership 11. Nature
Securities Derivative Derivative Form of of
Security Securities Derivative Indirect
Beneficially Security: Beneficial
Amount or Owned at End Direct (D) Ownership
Number of of Month or Indirect
Title Shares (I)
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<S> <C> <C> <C> <C> <C>
Explanation of Responses:
J - Reduction in Units due to a one-for-five reverse Unit split effected October 19, 1998.
* - Reduction in Units from 30,579 to 6,115 due to a one-for-five reverse Unit split.
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SIGNATURE OF REPORTING PERSON
/s/ James J. Wilson
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DATE: December 7, 1998
