SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
Under the Securities Exchange Act of 1934
CenterSpan Communications Corp.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
886027101
(CUSIP Number)
Peter R. Kellogg
120 Broadway
New York, New York 10271
(Name, address and telephone number of person
authorized to receive notices and communications)
December 27, 2000
(Date of event which requires filing of this statement)
(Continued on following page(s))
Page 1 of 5 Pages
Cusip No. 886027101 Page 2 of 5
_______________________________________________________
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Peter R. Kellogg
_____________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
(b) X
_____________________________________________________
3. SEC USE ONLY
_____________________________________________________
4. SOURCE OF FUNDS:
_____________________________________________________
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(D) OR 2(E)
___________________________________________________
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA_______________________________________________
Number of 7. SOLE VOTING POWER NUMBER OF SHARES
Shares _______1,264,886__(1)_______________
8. SHARED VOTING POWER
Beneficially
_______0 _______________
Owned by Each 9. SOLE DISPOSITIVE POWER
Reporting _______1,264,886_(1)_________________
10.SHARED DISPOSITIVE POWER
Person With
______________________ 0 _ _______________
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
___1,264,886 ____________________________________
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
_____________________________________________________
(1) 273,853 are restricted shares.
Cusip No. 886027101 Page 3 of 5
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
20.262%
_____________________________________________________
14. TYPE OF REPORTING PERSON - IN
___________________________________________________
Item 1. Security and Issuer
The class of security to which this statement relates
is Common Stock (the "Common Stock"), of CenterSpan
Communications Corp., an Oregon Corporation (the "Issuer").
The address of the principal executive office of the Issuer
is: 7175 NW Evergreen Parkway, #400, Hillsboro, Oregon,
97124.
Item 2. Identity and Background
The person filing this Statement is Peter R. Kellogg.
This statement also contains information regarding shares of
Common Stock owned by I.A.T. Reinsurance Syndicate Ltd.
("IAT"), a Bermuda corporation of which Mr. Kellogg is the
sole holder of voting stock. Mr. Kellogg disclaims the
existence of a group for purposes of Section 13 (d) of the
Securities Exchange Act of 1934 ("Act"), and he disclaims
beneficial ownership of shares owned by such other persons
and entities.
Mr. Kellogg's principal occupation is:
Senior Managing Director
Spear, Leeds & Kellogg
120 Broadway
New York, New York 10271
IAT's business address is:
Spear, Leeds & Kellogg
120 Broadway
New York, New York 10271
Spear, Leeds & Kellogg is a registered securities broker-
dealer.
IAT is a reinsurance company incorporated in Bermuda.
During the last five years, neither Mr. Kellogg, nor any
executive officer of IAT, has been convicted in a criminal
proceeding nor have they been a party to a civil proceeding
of a judicial or administrative body of competent
jurisdiction as a result of which such person was or is
Cusip No. 886027101 Page 4 of 5
subject to a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities
subject to, federal or state securities laws, or finding any
violation with respect to such laws.
Mr. Kellogg is a citizen of the United States.
Item 3. Source and Amount of Funds or Other Consideration
The aggregate purchase price of the Common Stock
recently purchased by Peter Kellogg and IAT was $564,697.00,
which came from available funds.
Item 4. Purpose of Transaction
The Common Stock was acquired by Peter Kellogg and IAT
for investment purposes only. Neither IAT, nor Mr. Kellogg
have plans or proposals related to or which would result in
any of the actions specified in clauses (a) through (j) of
Item 4 of Schedule 13D.
IAT and Mr. Kellogg may determine to purchase
additional shares of Common Stock at any time and from time
to time, subject to market and general economic conditions,
and any purchase or purchases may be effected directly or
through one or more entities controlled or deemed to be
controlled by Mr. Kellogg. Mr. Kellogg may also sell or
otherwise dispose of shares of Common Stock owned directly
or indirectly by him at any time or from time to time,
although he has no present plans or proposals to do so. Any
purchases or sales by Mr. Kellogg may be in the open market,
in a privately negotiated transaction or otherwise.
Item 5. Interest in Securities of the Issuer
(a) As of December 29, 2000, Mr. Kellogg may be deemed
the beneficial owner of 1,264,886 shares of the Common Stock
of CenterSpan Communications Corp., constituting
approximately 20.262% of the common stock outstanding. Of
those shares, 765,986 were owned by Mr. Kellogg personally
and 498,900 were owned by IAT. 273,853 shares owned by IAT
are restricted.
(b) Mr. Kellogg has the sole dispositive power with
respect to 1,264,886 shares of common stock, which he and
IAT own.
(c) The following table set forth information with
Cusip No. 886027101 Page 5 of 5
respect to all purchases, sales or donations of the common
stock by Mr. Kellogg and IAT for purposes of Section 13(d)
of the 1934 Act since December 28, 2000.
Number
Date of of Type of Price
Transaction Shares Transaction Per
Share
12/26/00 11,300 OTC Buy 11.15
12/27/00 30,000 OTC Buy 10.909
12/28/00 5,000 OTC Buy 10.644
12/29/00 5,400 OTC Buy 10.78
Item 6. Contract Arrangements, Understandings or
Relationships with Respect to Securities of the
Issuer
All shares of Common Stock purchased by Mr. Kellogg
were acquired on the basis of his independent investment
decisions. Mr. Kellogg disclaims that he was or is a
member of a "group," within the meaning of the Act and the
Rules, with regard to the acquisition or holding of shares
of Common Stock acquired or sold by Mr. Kellogg. Further,
Mr. Kellogg has no arrangement, agreement or
understanding with anyone with respect to the future
acquisition, holding, disposition or voting of shares of
Common Stock of the Issuer.
Item 7. Material to be filed as Exhibits
None.
SIGNATURE
After reasonable inquiry and to the best of my
knowledge and belief, I certify that the information set
fourth in this Statement is true, complete and correct.
Dated: January 9, 2001 Peter R. Kellogg
Peter R. Kellogg
