U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
FORM 4
Filed pursuant to Section 16(a) of the
Securities Exchange 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.
___ Check box if no longer subject to Section
16. Form 4 or Form 5 obligations may continue.
See Instruction 1(b)
1. Name and Ray, William C.
Address of 200 North Elm Street
Reporting Greensboro, NC 27401
Person
2. Issuer Name Network Systems
and Ticker or International, Inc.
Trading Symbol (NESI)
3. IRS Number
of Reporting
Person, if an
Entity
(Voluntary)
4. Statement July, 1998
for Month/Year:
5. If N/A
Amendment, Date
of Original
6. Officer
Relationship of
Reporting
Person to
Issuer
(Check all
applicable)
7. Individual _x__ Form filed by
or Joint/Group one Reporting Person
Filing (Check ___ Form filed by
applicable more than one
line) Reporting Person.
Table I - Non-Derivative Securities Acquired,
Disposed of, or Beneficially Owned
1. Title of Security Common Stock
2. Transaction Date July 22, 1998
(Month/Day/Year)
3. Transaction Code Code: G
(Instr. 8) V:
4. Securities Acquired Amt: 20,000
(A) or Disposed of (D)
(A) or D
(D)
Price: $5.25
5. Amount of Securities
Beneficially Owned at End 352,981
of Month
6. Ownership form: D
Direct (D) or Indirect
(I)
7. Nature of Indirect
Beneficial Ownership:
Table II - Derivative Securities Acquired,
Disposed of, or Beneficially Owned (e.g., puts,
calls, warrants, options, convertible
securities)
1. Title of Derivative N/A
Security
2. Conversion or Exercise
Price of Derivative
Security
3. Transaction Date
(Month/Day/Year)
4. Transaction Code Code:
V:
5. Number of Derivative (A)
Securities Acquired (A) or
Disposed of (D)
(D)
6. Date Exercisable and Date
Expiration Date Exercisable
(Month/Day/Year)
Expiration
Date
7. Title and Amount of Title
Underlying Securities
Amount
or Number
of Shares
8. Price of Derivative
Security:
9. Number of Derivative
Securities Beneficially
Owned at End of Month:
10. Ownership Form of
Derivative Security:
Direct (D)
or Indirect (I)
11. Nature of Indirect
Beneficial Ownership
/s/ William C. Ray
Signature of Reporting Person
Date: 08/03/98
