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| FORM 3 |
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OMB Number: 3525-0287
Expires: September 30, 1998
Estimated average burden
hours per response. . . 0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a)
Public Utility Holding Company Act of 1935 or Section 30(f)
of the Investment Company Act of 1940
1. Name and Address of Reporting Person*
Manzke Sandra L.
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(Last) (First) (Middle)
c/o Tremont Advisers, Inc.
555 Theodore Fremd Avenue - Suite C206
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(Street)
Rye New York 10580
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(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
08/18/1999
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Issuer Name and Ticker or Trading Symbol
Tremont Advisers, Inc. - TMAVB
5. Relationship of Reporting Person to Issuer (Check all applicable)
[X] Director
[X] 10% Owner
[X] Officer (give title below)
[ ] Other (specify below)
Chief Executive Officer
6. If Amendment, Date of Original Month/Day/Year)
August 19, 1998
7. Individual or Joint/Group
Filing (Check Applicable Line)
__X_ Form filed by One Reporting Person
____ Form filed by More than One Reporting Person
<TABLE>
TABLE 1 - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF,
OR BENEFICIALLY OWNED
<S> <C> <C> <C>
1. Title of 2. Amount of Securities 3. Ownership Form: 4. Nature of Indirect
Security (Instr. 4) Benefically Owned Direct (D) or Beneficial
(Inst. 4) Indirect (I) Ownership (Instr. 5)
-------------------------- (Instr. 5)
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Class B Common Stock 435,970 D --
</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
<PAGE>
FORM 3 (continued)
<TABLE>
TABLE II - DERIVATIVE SECURITIES BENEFICIALLY OWNED
(e.g., puts, calls, warrants, options, convertible securities)
<C> <S> <S> <S> <S> <S> <S> <S>
1. Title of Derivative 2. Date Exercisable and 3. Title and Amount of 4. Conversion or 5. Ownership Form 6. Nature of
Security (Instr. 4) Expiration Date Securities Underlying Exercise Price of Derivative Indirect
(Month/Day/Year) Derivative Security of Derivative Security: Beneficial
-------------------------- (Instr. 4) Security Direct (D) or Ownership
-------------------------- Indirect (I) (Instr. 5)
Amount or (Instr. 5)
Date Expiration Number of
Exercisable Date Title Shares
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Options 6/12/99 6/12/02 Class B Common Stock 43,750 $3.00 D - -
Class A Common Stock 8/15/98 N/A Class B Common Stock 229,500 1:1 D - -
</TABLE>
Explanation of Responses:
/s/ Sandra L. Manzke 09/23/1999
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Signature of Reporting Person Date
Sandra L. Manzke
** 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 provided is insufficient. See Instruction 6 for procedure.
Potential persons who are to respond to the collection of information in this
form are not required to respond unless the form displays a currently valid OMB
Number.
