NEWBY STEVEN T
SC 13G/A, 2001-01-19
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC  20549

SCHEDULE 13G

Under the Securities and Exchange Act of 1934
(Amendment No. 3)*

US-China Industrial Exchange
(Name Of Issuer)

Common stock, par value $0.01
(Title of Class of Securities)

90329W302
(CUSIP Number)

December 31, 2000
(Date of Event which Requires Filing of this Statement)


Check the appropriate box to designate the rule pursuant to which
this schedule is filed:

	[  ]	Rule 13d-1(b)

	[X]	Rule 13d-1(c)

	[  ]	Rule 13d-1(d)

*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 "filed" for the purpose 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).


CUSIP NO.  90329W302		SCHEDULE 13G

1 NAME OF THE REPORTING PERSON

  STEVEN T. NEWBY

2 CHECK THE APPROPRIATE BOX IF A MEMBER OF
  A GROUP						(a) [   ]
							(b) [X]

3 SEC USE ONLY

4 CITIZENSHIP OR PLACE OF ORGANIZATION

  UNITED STATES

NUMBER OF		5	SOLE VOTING POWER
SHARES			168,910
BENEFICALLY	      6	SHARED VOTING POWER
OWNED BY			-0-
EACH			7	SOLE DISPOSITIVE POWER
REPORTING			168,910
PERSON		8	SHARED VOTING POWER
WITH				-0-

9 AGGREGATE AMOUNT BENEFICALLY OWNED BY
  EACH REPORING PERSON
  168,910

10 CHECK THE BOX IF THE AGGREGATE AMOUNT IN
   ROW (9) EXCLUDES CERTAIN SHARES               [  ].

11 PERCENT OF CLASS REPRESENTED BY AMOUNT
   IN ROW (9)
   19.4%

12 TYPE OF REPORTING PERSON
   IN

The purpose of this filing is to reflect the beneficial
ownership of the $0.01 par value Common Stock of
US-China Industrial Exchange by Steven T. Newby
as of December 31, 2000.

ITEM 1.
(a) US-China Industrial Exchange
(b) 7201 Wisconsin Avenue
    Bethesda, MD  20814

ITEM 2.
	(a) Steven T. Newby
	(b) 555 Quince Orchard Road, Suite 606
	    Gaithersburg, MD  20878
	(c) USA
	(d) Common Stock, par value $0.01
	(e) CUSIP 90329W302

ITEM 3.  Passive Investor

ITEM 4.  Ownership

	(a) Amount beneficially owned: 168,910.
	(b) Percent of class: 19.4%.
	(c) Number of shares as to which the person has:
		(i)  Sole power to vote or to direct the vote 168,910.
		(ii) Shared power to vote or direct the vote -0-.
		(iii)Sole power to dispose or to direct the
		     disposition of 168,910.
		(iv) Shared power to dispose or to direct the
	           disposition of -0-.

ITEM 5.  Ownership of Five Percent or Less of a Class

If this statement is being filed to report the fact that
as of the date hereof the reporting person has ceased
to be the beneficial owner of more than five percent
of the class of securities, check the following [  ].

ITEM 6.  Ownership of More than Five Percent on Behalf of
	   Another Person

         NONE

ITEM 7.  Identification and Classification of the Subsidiary Which
         Acquired the Security Being Reported on By the Parent
         Holding Company

	   NONE

ITEM 8.  Identification and Classification of Members of the
         Group

	   NONE

ITEM 9.  Notice of Dissolution of Group

	   NONE

ITEM 10.  Certification

By signing below I certify that, to the best of my
knowledge and belief, the securities referred to
above were not acquired and are not held for the
purpose of or with the effect of changing or
influencing the control of the issuer of the securities
and were not acquired and are not held in
connection with or as a participant in any
transaction having that purpose or effect.


                   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:  January 19, 2001		/S/:	STEVEN T. NEWBY
					STEVEN T. NEWBY





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