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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Amendment No. 1
The Presley Companies
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(Name of Issuer)
Series A Common Stock, $.01 par value
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(Title of Class of Securities)
741030100
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(CUSIP Number)
Page 1 of 7 Pages
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- --------------------
CUSIP NO.
741030100
- --------------------
- --------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Goldman, Sachs & Co.
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2. Check the Appropriate Box if a Member of a Group
(a) _____
(b) _____
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3. SEC Use Only
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4. Citizenship or place of Organization
New York
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Number of 5. Sole Voting Power
Shares
Beneficially 0
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Owned By 6. Shared Voting Power
Each
Reporting 5,920,362
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Person With 7. Sole Dispositive Power
0
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8. Shared Dispositive Power
5,920,362
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
5,920,362
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
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11. Percent of Class Represented by Amount in Row (9)
24.9%
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12. Type of Reporting Person
BD-PN-IA
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Page 2 of 7 Pages
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- ---------------
CUSIP NO.
741030100
- ---------------
- --------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
The Goldman Sachs Group, L.P.
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2. Check the Appropriate Box if a Member of a Group
(a) _____
(b) _____
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3. SEC Use Only
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4. Citizenship or place of Organization
Delaware
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Number of 5. Sole Voting Power
Shares
Beneficially 0
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Owned By 6. Shared Voting Power
Each
Reporting 5,920,362
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Person With 7. Sole Dispositive Power
0
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8. Shared Dispositive Power
5,920,362
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
5,920,362
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
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11. Percent of Class Represented by Amount in Row (9)
24.9%
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12. Type of Reporting Person
HC-PN
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Page 3 of 7 Pages
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Item 1(a). Name of Issuer:
The Presley Companies
Item 1(b). Address of Issuer's Principal Executive Offices:
19 Corporate Plaza
Newport Beach, CA 92660
Item 2(a). Name of Persons Filing:
Goldman, Sachs & Co. and The Goldman Sachs Group, L.P.
Item 2(b). Address of Principal Business Office or, if None, Residence:
85 Broad Street
New York, NY 10004
Item 2(c). Citizenship:
Goldman, Sachs & Co. - New York
The Goldman Sachs Group, L.P. - Delaware
Item 2(d). Title and Class of Securities:
Common Stock, $.01 par value
Item 2(e). CUSIP Number:
741030100
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b),
check whether the person filing is a :
(a).X Broker or dealer registered under Section 15 of the Act,
Goldman, Sachs & Co.
(b). Bank as defined in Section 3(a)(6) of the Act,
(c). Insurance Company as defined in Section 3(a)(19) of the Act,
(d). Investment Company registered under Section 8 of the Investment
Company Act,
(e).X Investment Adviser registered under Section 203 of the Investment
Advisers Act of 1940,
Goldman, Sachs & Co.
(f). Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of 1974 or
Endowment Fund; see 13d-1(b)(1)(ii)(F),
Page 4 of 7 Pages
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(g).X Parent Holding Company, in accordance with Rule 13d-1(b)(ii)(G); see
Item 7,
The Goldman Sachs Group, L.P.
(h). Group, in accordance with Rule 13d-1(b)(ii)(H).
Item 4. Ownership.
(a). Amount beneficially owned:
See the responses(s) to Item 9 on the attached cover page(s).
(b). Percent of class:
See the response(s) to Item 11 on the attached cover page(s).
(c). Number of shares as to which such person has:
(i). Sole power to vote or to direct the vote:
See the response(s) to Item 5 on the attached cover
page(s).
(ii). Shared power to vote or direct the vote:
See the response(s) to Item 6 on the attached cover
page(s).
(iii). Sole power to dispose or to direct the disposition of:
See the response(s) to Item 7 on the attached cover
page(s).
(iv). Shared power to dispose or to direct the disposition of:
See the response(s) to Item 8 on the attached cover
page(s).
Item 5. Ownership of Five Percent or Less of a Class.
Not Applicable
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Not Applicable
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company.
See Exhibit (2) as previously reported.
Item 8. Identification and Classification of Members of the Group.
Not Applicable
Page 5 of 7 Pages
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Item 9. Notice of Dissolution of Group.
Not Applicable
Item 10. Certification.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the
ordinary course of business and 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 purpose or
effect.
Page 6 of 7 Pages
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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 14, 1997
THE GOLDMAN SACHS GROUP, L.P.
By: The Goldman Sachs Corporation,
its general partner
By: /s/ William J. Buckley
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Name: William J. Buckley
Title: Executive Vice President
GOLDMAN, SACHS & CO.
By: /s/ William J. Buckley
-------------------------------------
Name: William J. Buckley
Title: Managing Director
Page 7 of 7 Pages
