AMERICAN INVESTMENT NETWORK INC
10-Q/A, 1997-05-15
LIFE INSURANCE
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May 15, 1997



Securities and Exchange Commission
450 Fifth Street, NW
Washington, D.C.  20549

Re:     American Investment Network, Inc., Form 10Q/A
        (formerly Great American Investment Network, Inc.)

Gentlemen:

Please accept for filing the Form 10Q/A, Exhibit 27 of the above
referenced registrant for the period of March 31, 1997.

Sincerely,

s/H. Harold Crumpler

 
Executive Vice President/Treasurer

HHC:lp





                                 SECURITIES AND EXCHANGE COMMISSION
                                      WASHINGTON, D. C.  20549

                                             FORM 10-Q/A

(X)     QUSRTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND
        EXCHANGE ACT OF 1934 

For the Quarterly Period ended March 31, 1997


                                   Commission file number 0-21572
                                  AMERICAN INVESTMENT NETWORK, INC.
                         (formerly Great American Investment Network, Inc.)
                            Name of Small Business Issuer in Its Charter

Mississippi                                         74-2447294
(State or Other Jurisdiction                        (I.R.S. Employer
of Incorporation or Organization)                   Identification Number)

660 Lakeland East Drive, Flowood, Mississippi         39208
(Address of Principal Executive Offices)            (Zip Code)

(601)936-2090
(Issuer's telephone Number, Including Area Code)


Securities registered under Section 12 (b) of the Exchange Act: NONE

Securities registered under Section 12 (g) of the Exchange Act:

                                   CLASS "A" COMMON, NO PAR VALUE
                                          (Title of Class)

Check whether the issuer:  (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days.

                                    Yes    X           No       

As of March 31, 1997, there were outstanding 5,021,764 shares of registrant's
Class A common stock, no par value per share and 2,500 shares of Class B common
stock, par value $1 per share.
    


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<ARTICLE> 7
       
<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               MAR-31-1997
<DEBT-HELD-FOR-SALE>                         2,883,377
<DEBT-CARRYING-VALUE>                        2,876,794
<DEBT-MARKET-VALUE>                          2,816,811
<EQUITIES>                                     987,237
<MORTGAGE>                                           0
<REAL-ESTATE>                                  447,768
<TOTAL-INVEST>                               4,242,480
<CASH>                                         118,450
<RECOVER-REINSURE>                              58,674
<DEFERRED-ACQUISITION>                       2,377,145
<TOTAL-ASSETS>                               7,693,945
<POLICY-LOSSES>                              2,804,620
<UNEARNED-PREMIUMS>                            142,152
<POLICY-OTHER>                                 841,753
<POLICY-HOLDER-FUNDS>                                0
<NOTES-PAYABLE>                                504,429
                                0
                                          0
<COMMON>                                     4,483,120
<OTHER-SE>                                  (1,312,638)
<TOTAL-LIABILITY-AND-EQUITY>                 7,693,945
                                     729,727
<INVESTMENT-INCOME>                             76,547
<INVESTMENT-GAINS>                                   0
<OTHER-INCOME>                                  14,563
<BENEFITS>                                     548,168
<UNDERWRITING-AMORTIZATION>                    133,930
<UNDERWRITING-OTHER>                           368,745
<INCOME-PRETAX>                               (230,006)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                           (230,006)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                  (230,006)
<EPS-PRIMARY>                                    (.05)
<EPS-DILUTED>                                    (.05)
<RESERVE-OPEN>                                 163,214
<PROVISION-CURRENT>                            230,702
<PROVISION-PRIOR>                                    0
<PAYMENTS-CURRENT>                              99,443
<PAYMENTS-PRIOR>                               114,227
<RESERVE-CLOSE>                                180,246
<CUMULATIVE-DEFICIENCY>                              0
        

</TABLE>


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