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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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
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1. Name and Address of Reporting Person*
Paribas
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(Last, First Middle)
Equitable Tower - 787 7th Ave.
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(Street)
New York, New York 10019
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(City, State Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
November 2, 1998
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
Staff Leasing Inc. (STFF)
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[ ] Director [ X ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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6. If Amendment, Date of Original (Month/Day/Year)
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7. Individual or Joint/Group Filing (Check applicable line)
[ X ] Form Filed by One Reporting Person
[ ] Form Filed by More than One Reporting Person
* If the Form is filed by more than one Reporting Person, see Instruction
5(b)(v)
<PAGE>
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Table I -- Non-Derivative Securities Beneficially Owned
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<TABLE>
<CAPTION>
3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr.5)
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<S> <C> <C> <C>
(1)Common Stock 1,323,521 I Owned directly by Paribas Principal
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(2)Common Stock 105,000 I Owned directly by Paribas North America Inc.
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
<PAGE>
<TABLE>
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Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<CAPTION>
3. Title and Amount of Securities
Underlying Derivative Security
2. Date Exercisable (Instr. 4)
and Expiration Date ---------------------------------
(Month/Day/Year) Amount
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Date Expira- Number
1. Title of Derivative Exer- tion of
Security (Instr. 4) cisable Date Title Shares
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<S> <C> <C> <C> <C>
(1)Warrants (right to buy) 6/30/97 3/31/01 Common 998,370
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Table II (cont.) -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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5. Owner-
ship
Form of
Derivative
4. Conver- Security:
sion or Direct 6. Nature of
Exercise (D) or Indirect
Price of Indirect Beneficial
1. Title of Derivative Derivative (I) Ownership
Security (Instr. 4) Security (Instr.5) (Instr. 5)
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<S> <C> <C> <C>
(1)Warrants (right to buy) $7.24 I Owned directly by Paribas Principal Inc.
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</TABLE>
<PAGE>
Explanation of Responses:
1. Paribas is a subsidiary of Compagnie Financiere de Paribas, a diversified
holding company under the laws of the republic of France. The operating
subsidiaries of Compagnie financiere de Paribas engage in a wide variety of
banking, financing services, manufacturing, trade, development and related
activities. Paribas Principal Incorporated and Paribas North America Inc.
are each subsidiaries of Paribas.
2. Paribas became a 10% Holder of the common stock of the Company as a result
of a stock buy-back by the Company. Paribas became aware of the stock
buy-back on November 2, 1998.
/s/ Gary Binning 11/12/98
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**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient. See Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB number.
SEC 1473 (7-96)
