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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Amendment No. 1
Big Flower Press Holdings, Inc.
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(Name of Issuer)
Common Stock, $.01 par value
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(Title of Class of Securities)
089160105
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(CUSIP Number)
Page 1 of 5 Pages
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CUSIP NO.
089160105
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1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Goldman, Sachs & Co.
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2. Check the Appropriate Box if a Member of a Group
(a) _____
(b) _____
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3. SEC Use Only
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4. Citizenship or place of Organization
New York
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Number of 5. Sole Voting Power
Shares
Beneficially 0
Owned By ----------------------------------------
Each 6. Shared Voting Power
Reporting
Person With 1,978,832
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7. Sole Dispositive Power
0
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8. Shared Dispositive Power
1,978,832
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,978,832
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
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11. Percent of Class Represented by Amount in Row (9)
13.4%
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12. Type of Reporting Person
BD-PN-IA
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Page 2 of 5 Pages
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CUSIP NO.
089160105
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1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
The Goldman Sachs Group, L.P.
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2. Check the Appropriate Box if a Member of a Group
(a)
-----
(b)
-----
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3. SEC Use Only
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4. Citizenship or place of Organization
Delaware
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Number of 5. Sole Voting Power
Shares
Beneficially 0
Owned By ----------------------------------------
Each 6. Shared Voting Power
Reporting
Person With 1,978,832
----------------------------------------
7. Sole Dispositive Power
0
----------------------------------------
8. Shared Dispositive Power
1,978,832
----------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,978,832
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
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11. Percent of Class Represented by Amount in Row (9)
13.4%
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12. Type of Reporting Person
HC-PN
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Page 3 of 5 Pages
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Item 4. Ownership.
(a). Amount beneficially owned:
See the responses(s) to Item 9 on the attached cover page(s).
(b). Percent of class:
See the response(s) to Item 11 on the attached cover page(s).
(c). Number of shares as to which such person has:
(i). Sole power to vote or to direct the vote:
See the response(s) to Item 5 on the attached cover
page(s).
(ii). Shared power to vote or direct the vote:
See the response(s) to Item 6 on the attached cover
page(s).
(iii). Sole power to dispose or to direct the disposition of:
See the response(s) to Item 7 on the attached cover
page(s).
(iv). Shared power to dispose or to direct the disposition of:
See the response(s) to Item 8 on the attached cover
page(s).
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company.
See Exhibit (2) as previously filed.
Item 10. Certification.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the purpose
of and do not have the effect of changing or influencing the
control of the issuer of such securities and were not acquired in
connection with or as a participant in any transaction having such
purpose or effect.
Page 4 of 5 Pages
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement
is true, complete and correct.
Date: February 14, 1997
THE GOLDMAN SACHS GROUP, L.P.
By: The Goldman Sachs Corporation,
its general partner
By: /s/ William J. Buckley
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Name: William J. Buckley
Title: Executive Vice President
GOLDMAN, SACHS & CO.
By: /s/ William J. Buckley
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Name: William J. Buckley
Title: Managing Director
Page 5 of 5 Pages
