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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Amendment No. 4
RYLAND GROUP, INC.
CONVERTIBLE PREFERRED
CUSIP: 782999106
December 31, 1997
Check the following box if a fee is being paid with this statement _
ITEM 5 OWNERSHIP OF 5% OR LESS OF A CLASS
Yes
ITEM 10 CERTIFICATION:
BY SIGNING BELOW, I CERTIFY THAT, TO THE BEST OF MY KNOWLEDGE
AND BELIEF, THE SECURITIES REFERRED TO ABOVE WERE NOT ACQUIRED
FOR THE PURPOSE OF AND DO NOT HAVE THE EFFECT OF CHANGING OR
INFLUENCING THE CONTROL OF THE ISSUER OF SUCH SECURITIES AND
WERE NOT ACQUIRED IN CONNECTION WITH OR AS A PARTICIPANT IN
ANY TRANSACTION HAVING SUCH PURPOSES OR EFFECT.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
DATE: February 11, 1998
FOR: Wachovia Corporation
BY: /s/ Ricky B. Nicks
-----------------------------------------
Attorney-in-Fact
Ricky B. Nicks, Executive Vice President
Wachovia Operational Services Corporation
(Authorized by Wachovia Corporation under a limited power of
attorney filed with the Schedule 13G for Moore Products,
Incorporated, CUSIP 615836103, filed by Wachovia Corporation on
February 11, 1998.)
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