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 Address Ray, William C.
of Reporting Person 200 North Elm
Street
Greensboro, NC
27401
2. Issuer Name and Network Systems
Ticker or Trading International,
Symbol Inc. (NESI)
3. IRS Number of
Reporting Person, if
an Entity (Voluntary)
4. Statement for January 1999
Month/Year:
5. If Amendment, Date N/A
of Original
6. Relationship of Officer
Reporting Person to
Issuer
(Check all
applicable)
7. Individual or _x__ Form filed
Joint/Group Filing by one Reporting
(Check applicable Person
line) ___ Form filed by
more than one
Reporting
Person.
Table I - Non-Derivative Securities Acquired,
Disposed of, or Beneficially Owned
1. Title of Security Common Stock
2. Transaction Date January 22,
(Month/Day/Year) 1999
3. Transaction Code Code: G
(Instr. 8) V:
4. Securities Acquired Amt: 15,000
(A) or Disposed of (D)
(A) or D
(D)
Price: $5.75
5. Amount of Securities
Beneficially Owned at 337,981
End 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 Exercis
(Month/Day/Year) able
Expirat
ion
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: 02/05/99
