SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________
SCHEDULE 13D
Amendment Number 2
Under the Securities Exchange Act of 1934
RailAmerica, Inc.
(Name of Issuer)
Common Stock, Par Value $.001
(Title of Class of Securities)
750753105
(CUSIP Number)
Arthur Goetchius
300 Park Avenue, 21st Fl., New York, NY 10022 (212) 755-9000
(Name, address and telephone number of person
authorized to receive notices and communications)
February 9, 1998
(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule
13G to report the acquisition which is the subject of this Schedule 13D, and
is filing this schedule because of Rule 13d-1(b)(3) or (4), check the
following box [ ].
Check the following box if a fee is being paid with the statement [
]. (A fee is not required only if the reporting person: (1) has a previous
statement on file reporting beneficial ownership of more than five percent of
the class of securities described in Item 1; and (2) has filed no amendment
subsequent thereto reporting beneficial ownership of five percent or less of
such class.) (See Rule 13d-7.)
NOTE: Six copies of this statement, including all exhibits, should
be filed with the Commission. See Rule 13d-1(a) for other parties to whom
copies are to be sent.
The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall
not be deemed to be "filed" for purposes of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that
section of the Act but shall be subject to all other provisions of the Act
(however, see the Notes).
Page 1 of 19 pages
13D
CUSIP No. 750753105
________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
EGS Associates, L.P.
________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
________________________________________________________________________
(3) SEC USE ONLY
________________________________________________________________________
(4) SOURCE OF FUNDS **
WC
________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
SHARES -0-
________________________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY 309,560
________________________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
REPORTING -0-
________________________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
309,560
________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
309,560
________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
3.51%
_______________________________________________________________________
(14) TYPE OF REPORTING PERSON **
PN
________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 19 pages
13D
CUSIP No. 750753105
________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
EGS Partners, L.L.C.
________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
________________________________________________________________________
(3) SEC USE ONLY
________________________________________________________________________
(4) SOURCE OF FUNDS **
OO
________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
SHARES -0-
________________________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY 670,660
________________________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
REPORTING -0-
________________________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
678,355
________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
678,355
________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
7.68%
________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IA
________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 19 pages
13D
CUSIP No. 750753105
________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Bev Partners, L.P.
________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
________________________________________________________________________
(3) SEC USE ONLY
________________________________________________________________________
(4) SOURCE OF FUNDS **
WC
________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
SHARES -0-
________________________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY 138,085
________________________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
REPORTING -0-
________________________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
138,085
________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
138,085
________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
1.56%
________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
PN
________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 19 pages
13D
CUSIP No. 750753105
________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Jonas Partners, L.P.
________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
________________________________________________________________________
(3) SEC USE ONLY
________________________________________________________________________
(4) SOURCE OF FUNDS **
WC
________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
SHARES -0-
________________________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY 20,000
________________________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
REPORTING -0-
________________________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
20,000
________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
20,000
________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
.23%
________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
PN
________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 19 pages
13D
CUSIP No. 750753105
________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
William Ehrman
________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
________________________________________________________________________
(3) SEC USE ONLY
________________________________________________________________________
(4) SOURCE OF FUNDS **
AF OO PF
________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
SHARES 15,000
________________________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY 1,138,305
________________________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
REPORTING 15,000
________________________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
1,161,305
________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,176,000
________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
13.29%
________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 6 of 19 pages
13D
CUSIP No. 750753105
________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Frederic Greenberg
________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
________________________________________________________________________
(3) SEC USE ONLY
________________________________________________________________________
(4) SOURCE OF FUNDS **
AF OO
________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
SHARES -0-
________________________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY 1,138,305
________________________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
REPORTING -0-
________________________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
1,146,000
________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,146,000
________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
12.98%
________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 7 of 19 pages
13D
CUSIP No. 750753105
________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Frederick Ketcher
________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
________________________________________________________________________
(3) SEC USE ONLY
________________________________________________________________________
(4) SOURCE OF FUNDS **
AF OO PF
____________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
SHARES 10,000
________________________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY 1,138,305
________________________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
REPORTING 10,000
________________________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
1,146,000
________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,156,000
________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
13.09%
________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 8 of 19 pages
13D
CUSIP No. 750753105
________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Jonas Gerstl
________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
________________________________________________________________________
(3) SEC USE ONLY
________________________________________________________________________
(4) SOURCE OF FUNDS **
AF OO
________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
SHARES -0-
________________________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY 1,138,305
________________________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
REPORTING -0-
________________________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
1,146,000
________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,146,000
________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
12.98%
________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 9 of 19 pages
13D
CUSIP No. 750753105
________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
James McLaren
________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
________________________________________________________________________
(3) SEC USE ONLY
________________________________________________________________________
(4) SOURCE OF FUNDS **
AF OO
________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
SHARES -0-
________________________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY 1,138,305
________________________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
REPORTING -0-
________________________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
1,146,000
________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,146,000
________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
12.98%
________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 10 of 19 pages
13D
CUSIP No. 750753105
________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
William D. Lautman
________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
________________________________________________________________________
(3) SEC USE ONLY
________________________________________________________________________
(4) SOURCE OF FUNDS **
AF OO
________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
SHARES -0-
________________________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY 1,138,305
________________________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
REPORTING -0-
________________________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
1,146,000
________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,146,000
________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
12.98%
________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 11 of 19 pages
The Schedule 13D, initially filed on November 28, 1997, of (i) EGS
Associates, L.P., a Delaware limited partnership (EGS Associates), (ii) EGS
Partners, L.L.C., a Delaware limited liability company (EGS Partners), (iii)
Bev Partners, L.P., a Delaware limited partnership (Bev Partners), (iv)
Jonas Partners, L.P., a Delaware limited partnership (Jonas Partners), (v)
William Ehrman, (vi) Frederic Greenberg, (vii) Frederick Ketcher, (viii) Jonas
Gerstl, (ix) James McLaren and (x) William D. Lautman, relating to the common
stock, $0.001 par value per share (the Common Stock) issued by RailAmerica,
Inc. (the Company), is hereby amended by this Amendment No. 2 to the
Schedule 13D as follows:
Item 3 is hereby amended and restated in its entirety as follows:
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The net investment cost (including commissions, if any) of the
shares of Common Stock beneficially owned by EGS Associates, EGS Partners, Bev
Partners and Jonas Partners is approximately $1,591,026, $3,792,149, $739,696,
and $92,620, respectively.
The net investment cost (excluding commissions, if any) of the
shares of Common Stock owned directly by Mr. Ketcher is approximately $46,880.
The net investment cost (excluding commissions, if any) of the
shares of Common Stock owned directly by Mr. Ehrman and his immediate family
is approximately $136,890.
Messrs. Gerstl, Greenberg, McLaren and Lautman currently own no
shares of Common Stock.
The shares of Common Stock purchased by each of EGS Associates, Bev
Partners, and Jonas Partners were purchased with the investment capital of the
respective entities. The shares of Common Stock purchased by EGS Partners
were purchased with the investment capital of discretionary accounts under its
management. The shares of Common Stock purchased by Mr. Ketcher and by Mr.
Ehrman and his immediate family were purchased with personal funds.
The shares of Common Stock beneficially owned by EGS Associates, EGS
Partners, Bev Partners, and Jonas Partners are held in their respective
commingled margin accounts, or in the case of EGS Partners, in margin and non-
margin accounts held by each discretionary account under its management. Such
margin accounts are maintained at NationsBank Montgomery, and may from time to
time have debit balances. Since other securities are held in such margin
accounts, it is not possible to determine the amounts, if any, of margin used
with respect to the shares of Common Stock purchased. Non-margin accounts are
maintained at Bankers Trust Company. The shares owned by Mr. Ketcher and by
Mr. Ehrman and his immediate family are held in accounts maintained at
NationsBank Montgomery. Currently, the interest rate charged on such various
margin accounts is approximately 8.25% per annum.
Item 5 is hereby amended and restated in its entirety as follows:
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Page 12 of 19 pages
(a) The approximate aggregate percentage of shares of Common
Stock reported beneficially owned by each person herein is based on 8,829,275
shares outstanding, which is the total number of shares of Common Stock
outstanding as of November 13, 1997, as reflected in the companys quarterly
report on Form 10-Q filed with the Securities and Exchange Commission (the
Commission) for the fiscal quarter ended September 30, 1997 (which is the
most recent Form 10-Q on file).
As of the close of business on February 11, 1998:
(i) EGS Associates owns beneficially 309,560 shares of Common
Stock, constituting approximately 3.51% of the shares outstanding.
(ii) EGS Partners owns directly no shares of Common Stock. By
reason of the provisions of Rule 13D-3 of the Securities Exchange Act of 1934,
as amended (the Act), EGS Partners may be deemed to own beneficially 678,355
shares, constituting approximately 7.68% of the shares outstanding, purchased
for discretionary accounts managed by it.
(iii) Bev Partners owns beneficially 138,085 shares of Common
Stock, constituting approximately 1.56% of the shares outstanding.
(iv) Jonas Partners owns 20,000 shares of Common Stock,
constituting less than 1% of the shares outstanding.
(v) Mr. Ehrman owns beneficially through ownership by himself
and members of his immediate family, 30,000 shares of Common Stock,
constituting less than 1% of the shares outstanding.
(vi) Mr. Ketcher owns beneficially through ownership by himself
10,000 shares of Common Stock, constituting less than 1% of the shares
outstanding.
(vii) Messrs. Gerstl, Greenberg, McLaren and Lautman own directly
no shares of Common Stock.
By reason of the provisions of Rule 13D-3 of the Act, each of the
General Partners may be deemed to own the 309,560 shares beneficially owned by
EGS Associates, the 678,355 shares beneficially owned by EGS Partners, the
138,085 shares beneficially owned by Bev Partners, and the 20,000 shares
beneficially owned by Jonas Partners. When the shares beneficially owned by
EGS Associates, EGS Partners, Bev Partners, and Jonas Partners are aggregated,
they total 1,146,000 shares of Common Stock, constituting approximately 12.98%
of the shares outstanding.
(viii) In the aggregate, the Reporting Persons beneficially own a
total of 1,186,000 shares of Common Stock, constituting approximately 13.43%
of the shares outstanding.
(b) (i) Each of EGS Associates, EGS Partners, Bev Partners,
and Jonas Partners has the power to vote on all of the shares of Common Stock,
except for 7,695 shares held by one of the discretionary accounts, and to
Page 13 of 19 pages
dispose of all of the shares of Common Stock beneficially owned by it, which
power may be exercised by the General Partners. Each of the discretionary
accounts is a party to an investment management agreement with EGS Partners
pursuant to which EGS Partners has investment authority with respect to
securities held in such account.
(ii) Mr. Ehrman has no power to vote and shared power to
dispose of shares owned by his immediate family and Mr. Ketcher has the sole
power to vote and dispose of the shares owned directly by him.
(c) The trading dates, number of shares of Common Stock
purchased or sold and price per share for all transactions in the Common Stock
from the 60th day prior to February 9, 1998 until February 11, 1998 by EGS
Associates, EGS Partners, Bev Partners, and Jonas Partners are set forth in
Schedules A, B, C, and D, respectively, and were all effected in the over-the-
counter market and in private placements. During such period, Messrs. Ehrman,
Ketcher, Greenberg, Gerstl, McLaren and Lautman, did not enter into any
transactions in the Common Stock.
(d) No person other than each respective record owner of shares
of Common Stock referred to herein is known to have the right to receive or
the power to direct the receipt of dividends from or the proceeds of sale of
such shares of Common Stock.
Page 14 of 19 pages
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
DATED: ________________________ _____________________________________
William Ehrman, individually and as
general partner of each of EGS
ASSOCIATES, L.P., BEV PARTNERS, L.P.,
JONAS PARTNERS, L.P., and as a member
of EGS PARTNERS, L.L.C.
_____________________________________
Frederic Greenberg, individually and
as general partner of each of EGS
ASSOCIATES, L.P., BEV PARTNERS, L.P.,
JONAS PARTNERS, L.P. and as a member
of EGS PARTNERS, L.L.C.
_____________________________________
Frederick Ketcher, individually and
as general partner of each of EGS
ASSOCIATES, L.P., BEV PARTNERS, L.P.,
JONAS PARTNERS, L.P. and as a member
of EGS PARTNERS, L.L.C.
_____________________________________
Jonas Gerstl, individually and as
general partner of each of EGS
ASSOCIATES, L.P., BEV PARTNERS, L.P.,
JONAS PARTNERS, L.P. and as a member
of EGS PARTNERS, L.L.C.
_____________________________________
James McLaren, individually and as
general partner of each of EGS
ASSOCIATES, L.P., BEV PARTNERS, L.P.,
JONAS PARTNERS, L.P. and as a member
of EGS PARTNERS, L.L.C.
_____________________________________
William D. Lautman, individually and
as general partner of each of EGS
ASSOCIATES, L.P., BEV PARTNERS, L.P.,
JONAS PARTNERS, L.P. and as a member
of EGS PARTNERS, L.L.C.
Page 15 of 19 pages
Schedule A
EGS Associates, L.P.
Transactions in the Common Stock
Price Per Share
Date of Number of (including
Transaction Shares Purchased/(Sold) Commissions, if any)
________________________________________________________________________
12/15/97 15,000 $6.42
12/17/97 5,000 $6.53
12/29/97 10,000 $6.44
12/30/97 10,000 $6.56
12/31/97 24,000 $6.50
1/5/98 5,000 $6.54
1/16/98 8,925 $6.13
2/10/98 8,855 $6.51
2/11/98 10,120 $6.54
Page 16 of 19 pages
Schedule B
EGS Partners, L.P.
Transactions in the Common Stock
Price Per Share
Date of Number of (including
Transaction Shares Purchased/(Sold) Commissions, if any)
________________________________________________________________________
12/12/97 25,000 $6.63
12/15/97 500 $6.42
12/23/97 5,000 $6.38
12/26/97 10,000 $6.38
1/2/98 10,000 $6.63
1/5/98 10,000 $6.54
1/7/98 5,000 $6.25
1/12/98 15,000 $6.25
1/16/98 22,505 $6.13
1/26/98 15,000 $6.50
1/27/98 5,000 $6.38
1/30/98 5,000 $6.31
1/23/98 10,000 $6.53
2/2/98 15,000 $6.38
2/3/98 5,000 $6.44
2/9/98 5,000 $6.59
2/10/98 22,820 $6.51
2/10/98 5,000 $6.50
2/11/98 26,080 $6.54
Page 17 of 19 pages
Schedule C
Bev Partners, L.P.
Transactions in the Common Stock
Price Per Share
Date of Number of (including
Transaction Shares Purchased/(Sold) Commissions, if any)
________________________________________________________________________
12/17/97 15,000 $6.53
1/16/98 3,570 $6.13
1/29/98 5,000 $6.37
1/29/98 5,000 $6.38
2/5/98 3,000 $6.56
2/10/98 3,325 $6.51
2/11/98 3,800 $6.54
Page 18 of 19 pages
Schedule D
Jonas Partners, L.P.
Transactions in the Common Stock
Price Per Share
Date of Number of (including
Transaction Shares Purchased/(Sold) Commissions, if any)
________________________________________________________________________
1/13/98 2,000 $6.31
Page 19 of 19 pages
(..continued)
