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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
1. Name and Address of Reporting Person
Robert Capozzi
c/o Magten Asset Management Corp.
35 E. 21st St.
New York, New York
2. Date of Event Requiring Statement (Month/Day/Year)
December 15, 1997
3. IRS Number of Reporting Person
(Voluntary)
4. Issuer Name and Ticker or Trading Symbol
JPS Textile Group, Inc.
JPST
5. Relationship of Reporting Person(s) to Issuer (Check all
applicable)
( ) Director ( ) 10% Owner ( ) Officer (give title
below) (X) Other (1)
(specify below)
6. If Amendment, Date of Original (Month/Day/Year)
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
Table I -- Non-Derivative Securities Beneficially Owned
1. Title of Security 2. Amount of 3. Ownership 4. Nature of Indirect
Securities Form: Beneficial Ownership
Beneficially Direct(D) or
Owned Indirect(I)
Common Stock 1,905,435 (2) (I) Principal of Investment
Manager or General
Partner
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Table II -- Derivative Securities Beneficially Owned
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<S> <C> <C> <C> <C> <C>
1.Title of 2.Date Exer- 3.Title and Amount 4. Conver- 5. Ownership 6. Nature of
Derivative cisable and of Securities sion or Form of Indirect
Security Expiration Underlying Exercise Derivative Beneficial
Date Derivative Security Price of Security:
Ownership
(Month/Day/ --------------- Deri- Direct(D) or
Year) Title Amount or vative Indirect (I)
--------------- Number of Security
Date Expira- Shares
Exer- tion
cisable Date
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(1) The reporting person is a member of the board of directors of
the issuer and is an officer of Magten Asset Management Corp., a
registered investment adviser that has voting power and
investment power with respect to securities in its clients'
accounts, including securities described hereon.
(2) The reporting person disclaims beneficial ownership of these
securities, and this report shall not be deemed an admission that
the reporting person is the beneficial owner of such securities
for purposes of Rule 16a-1(a)(1) or (a)(2) or for any other
purpose.
Explanation of Responses:
SIGNATURE OF REPORTING PERSON
/s/ Robert Capozzi
___________________________
Robert Capozzi
DATE
February 26, 1998
2
01651001.AI0
