ARGUSS HOLDINGS INC
4, 1999-04-07
SPECIAL INDUSTRY MACHINERY, NEC
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- -------------------------   UNITED STATES SECURITIES AND EXCHANGE COMMISSION     ----------------------------
                                         Washington, D.C.  20549                          
         FORM 4                                                                            OMB APPROVAL
                                   STATEMENT OF CHANGES IN BENEFICIAL       
- ------------------------                       OWNERSHIP                         ----------------------------
/_/ Check this box if no                                                         OMB Number:        3235-0287
    longer subject to            Filed pursuant to Section 16(a) of the          Expires:  
    Section 16. Form 4       Securities Exchange Act of 1934, Section 17(a)      Estimated average
    or Form 5                 of the Public Utility Holding Company Act of       burden hours per
    obligations may          1935 or Section 30(f) of the Investment Company     response...............  0.5
    continue. See                              Act of 1940                       ----------------------------
    Instruction 1(b).                                                          
(Print or Type Responses)
- -------------------------------------------------------------------------------------------------------------
<S>                               <C>                                 <C>
1. Name and Address of            2. Issuer Name AND Ticker or          6. Relationship of Reporting
   Reporting Person*                 Trading Symbol                        Person(s) to Issuer
                                                                               (Check all applicable)
                                     Arguss Holdings, Inc.              _X_ Director        ___ 10% Owner
Bosselmann   Rainer        H.               (ARGX)                      _X_ Officer (give   ___ Other (specify
________________________________                                                     title             below)
(Last)      (First)     (Middle)                                                     below)

                                                                        Chairman, Chief Executive Officer
                                                                           and President
                                                                        ______________________________________
One Church Street                 3. IRS or Social      4. Statement  
________________________________     Security Number       for      
            (Street)                 of Reporting          Month/Year
                                     Person             
                                     (Voluntary)            12/98
Rockville     MD           20850
________________________________                        5. If           7. Individual or Joint/Group
(City)      (State)        (Zip)                           Amendment,      Filing
                                                           Date of          (Check Applicable Line)
                                                           Original     _X_ Form filed by One Reporting
                                                           (Month/          Person
                                                           Year)        ___ Form filed by More than One
                                                                            Reporting Person

- --------------------------------------------------------------------------------------------------------------------------
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                        Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
                                                                
<S>                        <C>         <C>          <C>                        <C>            <C>             <C>
1. Title of Security       2. Trans-   3. Trans-    4. Securities Acquired     5. Amount      6. Owner-       7. Nature
   (Instr. 3)                 action      action       (A) or                     of             ship            of
                              Date        Code         Disposed of (D)            Securities     Form:           Indirect
                             (Month/     (Instr.8)     (Instr. 3, 4 and 5)        Benefi-        Direct (D)      Beneficial
                              Day/                                                cially         or Indi-        Ownership
                              Year)                                               Owned at       rect (I)        (Instr. 4)
                                                                                  End of         (Instr. 4)
                                                                                  Month
                                                                                  (Instr. 3
                                                                                   and 4)
                                       ____________ ___________________________
                                       Code    V     Amount    (A) or    Price                          
                                                               (D)




- --------------------------------------------------------------------------------------------------------------------------
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Reminder:  Report on a separate line for each class of 
           securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, SEE Instruction
  4(b)(v).
                                                                          (Over)
                                                                 SEC 1474 (7-96)

<PAGE>

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<CAPTION>

FORM 4 (continued)   Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
                           (e.g., puts, calls, warrants, options, convertible securities)

- ------------------------------------------------------------------------------------------------------------------------------------
<S>                  <C>       <C>        <C>        <C>        <C>          <C>           <C>        <C>       <C>       <C>
1. Title of          2. Con-   3. Trans-  4. Trans-  5. Num-    6. Date      7. Title      8. Price   9. Num-   10. Own-  11. Na-
 Derivative           version   action     action     ber of     Exercis-     and Amount    of De-     ber of    ership    ture of
 Security             or        Date       Code       Deri-      able and     of Under-     rivative   Deriva-   Form of   Indi-
 (Instr. 3)           Exer-     (Month/    (Instr.    vative     Expiration   lying Secu-   Secu-      tive      Deriva-   rect Ben-
                      cise       Day/       8)        Secu-      Date         rities        rity       Securi-   tive Se-  eficial
                      Price      Year)                rities     (Month/Day/  (Instr. 3     (Instr.    ties Ben- curity:   Owner-
                      of De-                          Acquired    Year)        and 4)        5)        eficially Direct    ship
                      rivative                        (A) or                                           Owned at  (D) or    (Instr.
                      Security                        Disposed                                         End of    Indirect   4)
                                                      of (D)                                           Month     (I)
                                                      (Instr. 3,                                       (Instr.   (Instr.
                                                       4, and 5)                                        4)        4)

                                         __________  ___________ ____________  _____________
                                         Code   V     (A)   (D)  Date   Expi-  Title   Amount
                                                                 Exer-  ra-            or
                                                                 cis-   tion           Number
                                                                 able   Date           of
                                                                                       Shares


Stock Option          $13.00   12/31/98      A       50,000 (A)               Common   50,000           183,000     (D)
(right to buy)                                                                Stock







- ------------------------------------------------------------------------------------------------------------------------------------
Explanation of Responses:







** Intentional misstatements or omissions of facts constitute 
   Federal Criminal Violations.  
   SEE 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).                                    /s/ Rainer H. Bosselmann                04/07/99
                                                                         ------------------------------------------  -------------
                                                                             ** Signature of Reporting Person             Date
                                                                                    Rainer H. Bosselmann
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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.

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                                                                 SEC 1474 (7-96)


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