<TABLE>
<CAPTION>
- --------------------------------- ------------------------
FORM 4 OMB APPROVAL
- --------------------------------- U.S. SECURITIES AND EXCHANGE COMMISSION ------------------------
[ ] Check this box if no longer Washington, D.C. 20549 OMB Number 3235-0287
subject to Section 16, Form 4 Expires: April 30, 1997
or Form 5 obligations may STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Estimated average burden
continue. See Instruction 1(b). hours per response...0.5
------------------------
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
- -------------------------------------------------------------------------------------- ---------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1. Name and Address of Reporting Person 2. Issuer Name and Ticker or Trading Symbol 6. Relationship of Reporting Person to Issuer
(Check all applicable)
Garcao Jose Maria Salema Finet Holdings Corp., "FNHC" ___ Director _X_ 10% Owner
- --------------------------------------------------------------------------------------
(Last) (First) (Middle) 3. IRS or Social 4. Statement for ___ Officer (give ___ Other (specify
Security Number of Month/Year title below)
Quinta Da Marinha, Lote CT-14 Reporting Person 3/97 below)
- ---------------------------------------- (Voluntary) -------------------
(Street) 5. If Amendment,
Date of Original ------------------------------------------
(Month/Year)
2750 Cascais Portugal 4/14/97
- ------------------------------------------------------------------------------------------------------------------------------------
(City) (State) (Zip)
Table 1--Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
- ------------------------------------------------------------------------------------------------------------------------------------
1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired 5. Amount of 6. Owner- 7. Nature
(Instr. 3) action action (A) or Disposed of Securities ship of In-
Date Code (D) Beneficially Form: direct
(Instr. (Instr. 3, 4 and 5) Owned at Direct Bene-
(Month/ 8) End of (D) or ficial
Day/ ------------------------------------- Month Indirect Owner-
Year) (A) or (Instr. 3 (I) ship
Code V Amount (D) Price and 4) (Instr. 4) (Instr. 4)
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 3/21/97 P 1,000,000 A $0.60 p/s 7,100,000 D
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
FORM 4 (continued)
<TABLE>
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<CAPTION>
- ---------------------------------------------------------------------------------------------------------
1. Title of Derivative Security 2. Conver- 3. Trans- 4. Trans- 5. Number of Deriv-
(Instr.3) sion or action action ative Securities Ac-
Exercise Date Code quired (A) or Dis-
Price of (Instr.8) posed of (D)
Deriv- (Month/ (Instr. 3, 4, and 5)
ative Day/
Security Year)
----------------------------------------
Code V (A) (D)
- ---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Warrants to purchase $1.50 3/21/97 P 200,000
common stock
- ---------------------------------------------------------------------------------------------------------
Warrants to purchase $2.00 3/21/97 P 200,000
common stock
- ---------------------------------------------------------------------------------------------------------
Warrants to purchase $2.50 3/21/97 P 200,000
common stock
- ---------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------
6. Date Exer- 7. Title and Amount of Under- 8. Price 9. Number of 10. Ownership 11. Nature
cisable and Ex- lying Securities of Derivative Form of of
piration Date (Instr. 3 and 4) Deriv- Securities Derivative Indirect
(Month/Day/ ative Benefi- Security: Bene-
Year) Secur- cially Direct ficial
- ---------------------------------------------------------- ity Owned at (D) or Owner-
Date Expira- Amount or (Instr. End of Indirect ship
Exer- tion Title Number of 5) Month (I) (Instr. 4)
cisable Date Shares (Instr. 4) (Instr. 4)
- ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
3/21/97 3/21/02 Common Stock 200,000 * 4,100,000 D
- ------------------------------------------------------------------------------------------------------------------------
3/21/97 3/21/02 Common Stock 200,000 * 4,100,000 D
- ------------------------------------------------------------------------------------------------------------------------
3/21/97 3/21/02 Common Stock 200,000 * 4,100,000 D
- ------------------------------------------------------------------------------------------------------------------------
<FN>
Explanation of Responses:
* The Common Stock Purchase Warrants were granted to the Reporting Person in
consideration for the Reporting Person's agreement to purchase 1,000,000
Common Shares for $0.60 per share in a privately negotiated acquisition.
**Intentional misstatements or omissions of facts constitute Federal /s/ Jose Maria Salema Garcao 5/5/97
Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). ------------------------------- ------
**Signature of Reporting Person Date
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure. Jose Maria Salema Garcao
</FN>
</TABLE>
Page 2
<PAGE>
<TABLE>
<CAPTION>
- --------------------------------- ------------------------
FORM 4 OMB APPROVAL
- --------------------------------- U.S. SECURITIES AND EXCHANGE COMMISSION ------------------------
[ ] Check this box if no longer Washington, D.C. 20549 OMB Number 3235-0287
subject to Section 16, Form 4 Expires: April 30, 1997
or Form 5 obligations may STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Estimated average burden
continue. See Instruction 1(b). hours per response...0.5
------------------------
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
- -------------------------------------------------------------------------------------- ---------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1. Name and Address of Reporting Person 2. Issuer Name and Ticker or Trading Symbol 6. Relationship of Reporting Person to Issuer
(Check all applicable)
Garcao Jose Maria Salema Finet Holdings Corporation, ("FNHC") ___ Director _X_ 10% Owner
- --------------------------------------------------------------------------------------
(Last) (First) (Middle) 3. IRS or Social 4. Statement for ___ Officer (give ___ Other (specify
Security Number of Month/Year title below)
Quinta Da Marinha, Lote CT-14 Reporting Person 4/97 below)
- ---------------------------------------- (Voluntary) -------------------
(Street) 5. If Amendment,
Date of Original ------------------------------------------
(Month/Year)
2750 Cascais Portugal
- ------------------------------------------------------------------------------------------------------------------------------------
(City) (State) (Zip)
Table 1--Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
- ------------------------------------------------------------------------------------------------------------------------------------
1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired 5. Amount of 6. Owner- 7. Nature
(Instr. 3) action action (A) or Disposed of Securities ship of In-
Date Code (D) Beneficially Form: direct
(Instr. (Instr. 3, 4 and 5) Owned at Direct Bene-
(Month/ 8) End of (D) or ficial
Day/ ------------------------------------- Month Indirect Owner-
Year) (A) or (Instr. 3 (I) ship
Code V Amount (D) Price and 4) (Instr. 4) (Instr. 4)
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 3/29/97 P 1,000,000 A $1.00 p/s 8,100,000 D
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
FORM 4 (continued)
<TABLE>
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<CAPTION>
- ---------------------------------------------------------------------------------------------------------
1. Title of Derivative Security 2. Conver- 3. Trans- 4. Trans- 5. Number of Deriv-
(Instr.3) sion or action action ative Securities Ac-
Exercise Date Code quired (A) or Dis-
Price of (Instr.8) posed of (D)
Deriv- (Month/ (Instr. 3, 4, and 5)
ative Day/
Security Year)
----------------------------------------
Code V (A) (D)
- ---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------
6. Date Exer- 7. Title and Amount of Under- 8. Price 9. Number of 10. Ownership 11. Nature
cisable and Ex- lying Securities of Derivative Form of of
piration Date (Instr. 3 and 4) Deriv- Securities Derivative Indirect
(Month/Day/ ative Benefi- Security: Bene-
Year) Secur- cially Direct ficial
- ---------------------------------------------------------- ity Owned at (D) or Owner-
Date Expira- Amount or (Instr. End of Indirect ship
Exer- tion Title Number of 5) Month (I) (Instr. 4)
cisable Date Shares (Instr. 4) (Instr. 4)
- ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------------------
<FN>
Explanation of Responses:
**Intentional misstatements or omissions of facts constitute Federal /s/ Jose Maria Salema Garcao 5/5/97
Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). ------------------------------- ------
**Signature of Reporting Person Date
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure. Jose Maria Salema Garcao
</FN>
</TABLE>
Page 2
