FARALLON CAPITAL MANAGEMENT LLC
SC 13G/A, 2000-02-10
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                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549


                                  SCHEDULE 13G
                                 (Rule 13d-102)

                  INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
                 TO RULES 13d-1(b), (c) and(d) AND AMENDMENTS THERETO FILED
                             PURSUANT TO RULE 13d-2
                               (Amendment No. 1)1

                       First Washington Realty Trust, Inc.
                                (Name of Issuer)


                     Common Stock, par value $0.01 per share
                         (Title of Class of Securities)


                                    337489504
                                 (CUSIP Number)


                                February 10, 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)

- ----------------------
          1 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 the  purpose  of  Section  18 of the  Securities
     Exchange  Act of 1934  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>

                                      13G
===============================
 CUSIP No. 337489504
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Farallon Capital Partners, L.P.
- ---------======================================================================
   2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a) [   ]

                                                                 (b) [ X ] **
         ** The reporting  persons  making this filing hold an aggregate of 0
            Shares, which is 0.0% of the class of securities.
            The reporting person on this cover page, however, is a beneficial
            owner only of the securities reported by it on this cover page.
- ---------======================================================================
   3     SEC USE ONLY

- ---------======================================================================
   4     CITIZENSHIP OR PLACE OF ORGANIZATION

         California
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           -0- [See Preliminary Note]
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      -0- [See Preliminary Note]
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         -0- [See Preliminary Note]
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*                                             [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         0.0% [See Preliminary Note]
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         PN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                               Page 2 of 26 Pages
<PAGE>


                                       13G
===============================
 CUSIP No. 337489504
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Farallon Capital Institutional Partners, L.P.
- ---------======================================================================
   2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a) [   ]

                                                                 (b) [ X ] **
         ** The reporting  persons  making this filing hold an aggregate of 0
            Shares, which is 0.0% of the class of securities.
            The reporting person on this cover page, however, is a beneficial
            owner only of the securities reported by it on this cover page.
- ---------======================================================================
   3     SEC USE ONLY

- ---------======================================================================
   4     CITIZENSHIP OR PLACE OF ORGANIZATION

         California
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           -0- [See Preliminary Note]
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      -0- [See Preliminary Note]
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         -0- [See Preliminary Note]
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*                                             [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         0.0% [See Preliminary Note]
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         PN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                               Page 3 of 26 Pages
<PAGE>


                                       13G
===============================
 CUSIP No. 337489504
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Farallon Capital Institutional Partners II, L.P.
- ---------======================================================================
   2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a) [   ]

                                                                 (b) [ X ] **
         ** The reporting  persons  making this filing hold an aggregate of 0
            Shares, which is 0.0% of the class of securities.
            The reporting person on this cover page, however, is a beneficial
            owner only of the securities reported by it on this cover page.
- ---------======================================================================
   3     SEC USE ONLY

- ---------======================================================================
   4     CITIZENSHIP OR PLACE OF ORGANIZATION

         California
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           -0- [See Preliminary Note]
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      -0- [See Preliminary Note]
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         -0- [See Preliminary Note]
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*                                             [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         0.0% [See Preliminary Note]
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         PN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                               Page 4 of 26 Pages
<PAGE>


                                       13G
===============================
 CUSIP No. 337489504
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Farallon Capital Institutional Partners III, L.P.
- ---------======================================================================
   2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a) [   ]

                                                                 (b) [ X ] **
         ** The reporting  persons  making this filing hold an aggregate of 0
            Shares, which is 0.0% of the class of securities.
            The reporting person on this cover page, however, is a beneficial
            owner only of the securities reported by it on this cover page.
- ---------======================================================================
   3     SEC USE ONLY

- ---------======================================================================
   4     CITIZENSHIP OR PLACE OF ORGANIZATION

         Delaware
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           -0- [See Preliminary Note]
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      -0- [See Preliminary Note]
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         -0- [See Preliminary Note]
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*                                             [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         0.0% [See Preliminary Note]
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         PN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                               Page 5 of 26 Pages
<PAGE>


                                       13G
===============================
 CUSIP No. 337489504
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Tinicum Partners, L.P.
- ---------======================================================================
   2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a) [   ]

                                                                 (b) [ X ] **
         ** The reporting  persons  making this filing hold an aggregate of 0
            Shares, which is 0.0% of the class of securities.
            The reporting person on this cover page, however, is a beneficial
            owner only of the securities reported by it on this cover page.
- ---------======================================================================
   3     SEC USE ONLY

- ---------======================================================================
   4     CITIZENSHIP OR PLACE OF ORGANIZATION

         New York
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           -0- [See Preliminary Note]
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      -0- [See Preliminary Note]
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         -0- [See Preliminary Note]
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*                                             [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         0.0% [See Preliminary Note]
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         PN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                               Page 6 of 26 Pages
<PAGE>


                                       13G
===============================
 CUSIP No. 337489504
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Farallon Capital Management, L.L.C.
- ---------======================================================================
   2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a) [   ]

                                                                 (b) [ X ] **
         ** The reporting persons making this filing  hold an aggregate of 0
            Shares, which is 0.0% of the class of securities.
            The reporting person on this cover page, however,  may be deemed a
            beneficial owner only of the securities reported by it on this cover
            page.
- ---------======================================================================
   3     SEC USE ONLY

- ---------======================================================================
   4     CITIZENSHIP OR PLACE OF ORGANIZATION

         Delaware
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           -0- [See Preliminary Note]
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      -0- [See Preliminary Note]
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         -0- [See Preliminary Note]
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*

                                                                     [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         0.0% [See Preliminary Note]
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         IA, OO
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                               Page 7 of 26 Pages
<PAGE>


                                       13G
===============================
 CUSIP No. 337489504
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Farallon Partners, L.L.C.
- ---------======================================================================
   2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a) [   ]

                                                                 (b) [ X ] **
         ** The reporting persons making this filing  hold an aggregate of 0
            Shares, which is 0.0% of the class of securities.
            The reporting person on this cover page, however,  may be deemed a
            beneficial owner only of the securities reported by it on this cover
            page.
- ---------======================================================================
   3     SEC USE ONLY

- ---------======================================================================
   4     CITIZENSHIP OR PLACE OF ORGANIZATION

         Delaware
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           -0- [See Preliminary Note]
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      -0- [See Preliminary Note]
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         -0- [See Preliminary Note]
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*

                                                                     [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         0.0% [See Preliminary Note]
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         OO
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                               Page 8 of 26 Pages
<PAGE>


                                       13G
===============================
 CUSIP No. 337489504
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Enrique H. Boilini
- ---------======================================================================
   2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a) [   ]

                                                                 (b) [ X ] **
         ** The reporting persons making this filing  hold an aggregate of 0
            Shares, which is 0.0% of the class of securities.
            The reporting person on this cover page, however,  may be deemed a
            beneficial owner only of the securities reported by it on this cover
            page.
- ---------======================================================================
   3     SEC USE ONLY

- ---------======================================================================
   4     CITIZENSHIP OR PLACE OF ORGANIZATION

         Argentina
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           -0- [See Preliminary Note]
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      -0- [See Preliminary Note]
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         -0- [See Preliminary Note]
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*

                                                                     [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         0.0% [See Preliminary Note]
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         IN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                               Page 9 of 26 Pages
<PAGE>


                                       13G
===============================
 CUSIP No. 337489504
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         David I. Cohen
- ---------======================================================================
   2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a) [   ]

                                                                 (b) [ X ] **
         ** The reporting persons making this filing  hold an aggregate of 0
            Shares, which is 0.0% of the class of securities.
            The reporting person on this cover page, however,  may be deemed a
            beneficial owner only of the securities reported by it on this cover
            page.
- ---------======================================================================
   3     SEC USE ONLY

- ---------======================================================================
   4     CITIZENSHIP OR PLACE OF ORGANIZATION

         South Africa
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           -0- [See Preliminary Note]
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      -0- [See Preliminary Note]
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         -0- [See Preliminary Note]
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*

                                                                     [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         0.0% [See Preliminary Note]
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         IN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                               Page 10 of 26 Pages
<PAGE>


                                       13G
===============================
 CUSIP No. 337489504
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Joseph F. Downes
- ---------======================================================================
   2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a) [   ]

                                                                 (b) [ X ] **
         ** The reporting persons making this filing  hold an aggregate of 0
            Shares, which is 0.0% of the class of securities.
            The reporting person on this cover page, however,  may be deemed a
            beneficial owner only of the securities reported by it on this cover
            page.
- ---------======================================================================
   3     SEC USE ONLY

- ---------======================================================================
   4     CITIZENSHIP OR PLACE OF ORGANIZATION

         United States
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           -0- [See Preliminary Note]
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      -0- [See Preliminary Note]
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         -0- [See Preliminary Note]
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*

                                                                     [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         0.0% [See Preliminary Note]
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         IN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                              Page 11 of 26 Pages
<PAGE>

                                       13G
===============================
 CUSIP No. 337489504
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         William F. Duhamel
- ---------======================================================================
   2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a) [   ]

                                                                 (b) [ X ] **
         ** The reporting persons making this filing  hold an aggregate of 0
            Shares, which is 0.0% of the class of securities.
            The reporting person on this cover page, however,  may be deemed a
            beneficial owner only of the securities reported by it on this cover
            page.
- ---------======================================================================
   3     SEC USE ONLY

- ---------======================================================================
   4     CITIZENSHIP OR PLACE OF ORGANIZATION

         United States
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           -0- [See Preliminary Note]
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      -0- [See Preliminary Note]
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         -0- [See Preliminary Note]
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*

                                                                     [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         0.0% [See Preliminary Note]
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         IN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                              Page 12 of 26 Pages
<PAGE>


                                       13G
===============================
 CUSIP No. 337489504
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Fleur E. Fairman
- ---------======================================================================
   2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a) [   ]

                                                                 (b) [ X ] **
         ** The reporting persons making this filing  hold an aggregate of 0
            Shares, which is 0.0% of the class of securities.
            The reporting person on this cover page, however,  may be deemed a
            beneficial owner only of the securities reported by it on this cover
            page.
- ---------======================================================================
   3     SEC USE ONLY

- ---------======================================================================
   4     CITIZENSHIP OR PLACE OF ORGANIZATION

         United States
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           -0- [See Preliminary Note]
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      -0- [See Preliminary Note]
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         -0- [See Preliminary Note]
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*

                                                                     [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         0.0% [See Preliminary Note]
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         IN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                               Page 13 of 26 Pages
<PAGE>


                                       13G
===============================
 CUSIP No. 337489504
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Jason M. Fish
- ---------======================================================================
   2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a) [   ]

                                                                 (b) [ X ] **
         ** The reporting persons making this filing  hold an aggregate of 0
            Shares, which is 0.0% of the class of securities.
            The reporting person on this cover page, however,  may be deemed a
            beneficial owner only of the securities reported by it on this cover
            page.
- ---------======================================================================
   3     SEC USE ONLY

- ---------======================================================================
   4     CITIZENSHIP OR PLACE OF ORGANIZATION

         United States
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            700
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           -0-
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          700
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      -0-
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         700
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*

                                                                     [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         0.0%
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         IN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                              Page 14 of 26 Pages
<PAGE>


                                       13G
===============================
 CUSIP No. 337489504
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Andrew B. Fremder
- ---------======================================================================
   2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a) [   ]

                                                                 (b) [ X ] **
         ** The reporting persons making this filing  hold an aggregate of 0
            Shares, which is 0.0% of the class of securities.
            The reporting person on this cover page, however,  may be deemed a
            beneficial owner only of the securities reported by it on this cover
            page.
- ---------======================================================================
   3     SEC USE ONLY

- ---------======================================================================
   4     CITIZENSHIP OR PLACE OF ORGANIZATION

         United States
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           -0- [See Preliminary Note]
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      -0- [See Preliminary Note]
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         -0- [See Preliminary Note]
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*

                                                                     [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         0.0% [See Preliminary Note]
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         IN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                              Page 15 of 26 Pages
<PAGE>


                                      13G
===============================
 CUSIP No. 337489504
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Richard B. Fried
- ---------======================================================================
   2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a) [   ]

                                                                 (b) [ X ] **
         ** The reporting persons making this filing  hold an aggregate of 0
            Shares, which is 0.0% of the class of securities.
            The reporting person on this cover page, however,  may be deemed a
            beneficial owner only of the securities reported by it on this cover
            page.
- ---------======================================================================
   3     SEC USE ONLY

- ---------======================================================================
   4     CITIZENSHIP OR PLACE OF ORGANIZATION

         United States
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           -0- [See Preliminary Note]
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      -0- [See Preliminary Note]
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         -0- [See Preliminary Note]
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*

                                                                     [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         0.0% [See Preliminary Note]
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         IN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                              Page 16 of 26 Pages
<PAGE>


                                       13G
===============================
 CUSIP No. 337489504
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         William F. Mellin
- ---------======================================================================
   2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a) [   ]

                                                                 (b) [ X ] **
         ** The reporting persons making this filing  hold an aggregate of 0
            Shares, which is 0.0% of the class of securities.
            The reporting person on this cover page, however,  may be deemed a
            beneficial owner only of the securities reported by it on this cover
            page.
- ---------======================================================================
   3     SEC USE ONLY

- ---------======================================================================
   4     CITIZENSHIP OR PLACE OF ORGANIZATION

         United States
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           -0- [See Preliminary Note]
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      -0- [See Preliminary Note]
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         -0- [See Preliminary Note]
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*

                                                                     [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         0.0% [See Preliminary Note]
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         IN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                              Page 17 of 26 Pages
<PAGE>


                                       13G
===============================
 CUSIP No. 337489504
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Stephen L. Millham
- ---------======================================================================
   2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a) [   ]

                                                                 (b) [ X ] **
         ** The reporting persons making this filing  hold an aggregate of 0
            Shares, which is 0.0% of the class of securities.
            The reporting person on this cover page, however,  may be deemed a
            beneficial owner only of the securities reported by it on this cover
            page.
- ---------======================================================================
   3     SEC USE ONLY

- ---------======================================================================
   4     CITIZENSHIP OR PLACE OF ORGANIZATION

         United States
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           -0- [See Preliminary Note]
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      -0- [See Preliminary Note]
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         -0- [See Preliminary Note]
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*

                                                                     [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         0.0% [See Preliminary Note]
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         IN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                               Page 18 of 26 Pages
<PAGE>


                                       13G
===============================
 CUSIP No. 337489504
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Meridee A. Moore
- ---------======================================================================
   2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a) [   ]

                                                                 (b) [ X ] **
         ** The reporting persons making this filing  hold an aggregate of 0
            Shares, which is 0.0% of the class of securities.
            The reporting person on this cover page, however,  may be deemed a
            beneficial owner only of the securities reported by it on this cover
            page.
- ---------======================================================================
   3     SEC USE ONLY

- ---------======================================================================
   4     CITIZENSHIP OR PLACE OF ORGANIZATION

         United States
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           -0- [See Preliminary Note]
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      -0- [See Preliminary Note]
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         -0- [See Preliminary Note]
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*

                                                                     [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         0.0% [See Preliminary Note]
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         IN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                              Page 19 of 26 Pages
<PAGE>


                                       13G
===============================
 CUSIP No. 337489504
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Thomas F. Steyer
- ---------======================================================================
   2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a) [   ]

                                                                 (b) [ X ] **
         ** The reporting persons making this filing  hold an aggregate of 0
            Shares, which is 0.0% of the class of securities.
            The reporting person on this cover page, however,  may be deemed a
            beneficial owner only of the securities reported by it on this cover
            page.
- ---------======================================================================
   3     SEC USE ONLY

- ---------======================================================================
   4     CITIZENSHIP OR PLACE OF ORGANIZATION

         United States
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           -0- [See Preliminary Note]
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      -0- [See Preliminary Note]
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         -0- [See Preliminary Note]
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*

                                                                     [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         0.0% [See Preliminary Note]
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         IN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                               Page 20 of 26 Pages
<PAGE>


                                      13G
===============================
 CUSIP No. 337489504
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Mark C. Wehrly
- ---------======================================================================
   2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a) [   ]

                                                                 (b) [ X ] **
         ** The reporting persons making this filing  hold an aggregate of 0
            Shares, which is 0.0% of the class of securities.
            The reporting person on this cover page, however,  may be deemed a
            beneficial owner only of the securities reported by it on this cover
            page.
- ---------======================================================================
   3     SEC USE ONLY

- ---------======================================================================
   4     CITIZENSHIP OR PLACE OF ORGANIZATION

         United States
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           -0- [See Preliminary Note]
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      -0- [See Preliminary Note]
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         -0- [See Preliminary Note]
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*

                                                                     [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         0.0%
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         IN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                              Page 21 of 26 Pages
<PAGE>


     This  Amendment  No. 1 to Schedule 13G amends the  Schedule  13G  initially
filed on June 7, 1999 (collectively,  with all amendments thereto, the "Schedule
13G")2.

Preliminary  Note: FCP, FCIP, FCIP II, FCIP III, Tinicum and the Managed Account
(each as defined below) are making this filing to report that they are no longer
the holders of any shares of Convertible  Preferred Stock,  $0.01 par value (the
"Preferred Shares"), of First Washington Realty Trust, Inc. (the "Company").  As
of May 31, 1999, the Preferred Shares became immediately convertible into shares
of  Common  Stock,  par  value  $0.01  (the  "Shares")  at a  current  ratio  of
approximately  1.28205 Shares for each Preferred Share. These entities therefore
had been deemed  beneficial owners of the Shares into which the Preferred Shares
were  convertible,  as reported in the prior Schedule 13G. None of the Reporting
Persons (as defined  below)  currently own any Preferred  Shares and, other than
700  shares  owned  beneficially  by Jason  Fish for the  accounts  of his minor
children, none of the Reporting Persons currently own any Shares.

Item 1.  Issuer

         (a)   Name of Issuer:

               First Washington Realty Trust, Inc.


         (b)   Address of Issuer's Principal Executive Offices:

               4350 East-West Highway, Suite 400, Bethesda, Maryland  20814


Item 2.  Identity And Background.

         Title Of Class Of Securities And CUSIP Number (Item 2(d) and (e))

         This statement relates to Shares of Common Stock, par value $0.01 per
     share of the Company. The CUSIP number of the Shares is 337489504.

         Name Of Persons  Filing,  Address  Of  Principal  Business  Office And
         Citizenship (Item 2(a), (b) and (c))

         This statement is filed by the entities and persons listed below,  all
     of whom together are referred to herein as the "Reporting Persons."

         The Partnerships

          (i)  Farallon Capital Partners, L.P., a California limited partnership
               ("FCP"),  with  respect  to the Shares of which FCP is the deemed
               beneficial   owner  (through  direct   beneficial   ownership  of
               Preferred Shares);


- ---------------------
     2The original Schedule 13G was filed under CIK # 0001012168. This amendment
was filed under CIK # 0000909661.


                              Page 22 of 26 Pages
<PAGE>


          (ii) Farallon  Capital  Institutional  Partners,  L.P.,  a  California
               limited partnership ("FCIP"), with respect to the Shares of which
               FCIP is the deemed  beneficial  owner (through direct  beneficial
               ownership of Preferred Shares);

          (iii)Farallon  Capital  Institutional  Partners II, L.P., a California
               limited  partnership  ("FCIP II"),  with respect to the Shares of
               which  FCIP II is the deemed  beneficial  owner  (through  direct
               beneficial ownership of Preferred Shares);

          (iv) Farallon  Capital  Institutional  Partners III,  L.P., a Delaware
               limited  partnership  ("FCIP III"), with respect to the Shares of
               which FCIP III is the deemed  beneficial  owner  (through  direct
               beneficial ownership of Preferred Shares); and

          (v)  Tinicum   Partners,   L.P.,  a  New  York   limited   partnership
               ("Tinicum"),  with respect to the Shares of which  Tinicum is the
               deemed beneficial owner (through direct  beneficial  ownership of
               Preferred Shares).

         FCP,  FCIP,  FCIP II, FCIP III and Tinicum  are  together  referred to
     herein as the Partnerships.

         The Management Company

          (vi) Farallon Capital Management, L.L.C., a Delaware limited liability
               company (the "Management Company"), with respect to the Shares of
               which certain  accounts  managed by the  Management  Company (the
               "Managed  Accounts")3 are the deemed  beneficial  owners (through
               direct ownership of Preferred Shares).

         The General Partner Of The Partnerships

          (vii)Farallon  Partners,  L.L.C., a Delaware limited liability company
               which is the  general  partner of each of the  Partnerships  (the
               "General  Partner"),  with respect to the Shares of which each of
               the  Partnerships is the deemed  beneficial owner (through direct
               ownership of Preferred Shares).

         The Managing Members Of The General Partner And The Management Company

          (viii) The following  eleven persons who are managing members of both
               the General Partner and the Management  Company, with respect to
               the  Shares


- --------------
3 Of the Shares  reported  by the  Management  Company on behalf of the  Managed
Accounts,  0 Shares (equal to  approximately  0.0% of the total Shares currently
outstanding)  are  held by The  Absolute  Return  Fund  of The  Common  Fund,  a
non-profit  corporation whose principal address is 450 Post Road East, Westport,
Connecticut 06881.


                              Page 23 of 26 Pages
<PAGE>


               of which the General  Partner and the Management  Company are the
               deemed beneficial owners:  Enrique H. Boilini ("Boilini"),  David
               I. Cohen  ("Cohen"),  Joseph F.  Downes  ("Downes"),  William F.
               Duhamel ( Duhamel ), Andrew B.  Fremder  ("Fremder"),  Richard B.
               Fried ( Fried ), William F. Mellin ("Mellin"), Stephen L. Millham
               ("Millham"),   Meridee  A.  Moore  ("Moore"),  Thomas  F.  Steyer
               ("Steyer") and Mark C. Wehrly ("Wehrly");

          (ix) the twelfth  managing member of both the General Partner and the
               Management Company,  Jason M. Fish ("Fish"),  with respect to the
               Shares of which the General  Partner and the  Management  Company
               are the  deemed  beneficial  owners  and with  respect to the 700
               Shares held for the accounts of his minor children; and

          (x)  the thirteenth  managing member of the General Partner,  Fleur E.
               Fairman  ("Fairman"),  with  respect  to the  Shares of which the
               General Partner is the deemed beneficial owner.


         Boilini,  Cohen,  Downes,  Duhamel,  Fairman,  Fish,  Fremder,  Fried,
     Mellin,  Millham,  Moore, Steyer and Wehrly are together referred to herein
     as the Individual Reporting Persons.

         The citizenship of each of the  Partnerships,  the General Partner and
     the Management Company is set forth above. Each of the Individual Reporting
     Persons is a United States citizen other than (i) Enrique H. Boilini who is
     an  Argentinean  citizen  and (ii)  David I.  Cohen who is a South  African
     citizen.

         The address of the principal  business office of each of the Reporting
     Persons  other than  Enrique  Boilini is c/o Farallon  Capital  Management,
     L.L.C.,  One Maritime Plaza,  Suite 1325, San Francisco,  California 94111.
     The address of Enrique Boilini is c/o Farallon Capital Management,  L.L.C.,
     75 Holly Hill Lane, Greenwich, Connecticut 06830.

Item 3.  If This Statement Is Filed Pursuant To Rule 13d-1(b), Or 13d-2(b) Or
         (c), Check Whether The Person Filing Is An Entity Specified In (a)-(j):

            Not Applicable.

            If This Statement Is Filed Pursuant To Rule 13d-1(c), Check This
            Box. [ X ]

Item 4.  Ownership

         The  information  required by Items 4(a) - (c) and set forth in Rows 5
     through  11  of  the  cover  page  for  each  Reporting  Person  hereto  is
     incorporated herein by reference for each such Reporting Person.

         The Preferred Shares in respect of which each Partnership is deemed to
     beneficially own Shares are owned directly by each such Partnership.  The
     Preferred Shares in respectnof which the


                              Page 24 of 26 Pages
<PAGE>


     Management  Company is deemed to beneficially own Shares are owned directly
     by the Managed  Account.  The General  Partner,  as general  partner to the
     Partnerships, may be deemed the beneficial owner of the Shares beneficially
     owned by the Partnerships. The ManagementCompany,  as investment adviser to
     the Managed Accounts,  may be deemed to be the beneficial owner of all such
     Shares  owned by the  Managed  Accounts.  Each of Boilini,  Cohen,  Downes,
     Duhamel, Fish, Fremder,  Fried, Mellin,  Millham, Moore, Steyer and Wehrly,
     as managing members of the General Partner and the Management Company,  may
     be deemed  the  beneficial  owner of the Shares  beneficially  owned by the
     Partnerships and the Managed Account.  Fairman, as a managing member of the
     General  Partner,  may  be  deemed  the  beneficial  owner  of  the  Shares
     beneficially owned by the Partnerships. Each of the Management Company, the
     General Partner and the Individual  Reporting  Persons hereby disclaims any
     beneficial  ownership  of any such  Shares.  Fish may be  deemed  to be the
     beneficial  owner of the 700  Shares  held for the  accounts  of his  minor
     children.

Item 5.  Ownership Of Five Percent Or Less Of A Class


            If this  statement  is being  filed to report the fact that,  on the
            date hereof,  the  Reporting  Persons are not the deemed  beneficial
            owner of more than five  percent of the class of  securities,  check
            the following [ X ].

Item 6.  Ownership Of More Than Five Percent On Behalf Of Another Person

            Not Applicable.

Item 7.  Identification And Classification Of The Subsidiary Which Acquired The
         Security Being Reported On By The Parent Holding Company

            Not Applicable.

Item 8.  Identification And Classification Of Members Of The Group

            Not Applicable.

Item 9.  Notice Of Dissolution Of Group

            Not Applicable.

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.


                              Page 25 of 26 Pages
<PAGE>


                                   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:  February 10, 2000

                    /s/ Thomas F. Steyer
                   ----------------------------------------
                   FARALLON PARTNERS, L.L.C.,
                   on its own behalf and as General Partner of
                   FARALLON CAPITAL PARTNERS, L.P.,
                   FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P.,
                   FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P.,
                   FARALLON CAPITAL INSTITUTIONAL PARTNERS III, L.P.,
                   And TINICUM PARTNERS, L.P.,
                   By Thomas F. Steyer,
                   Senior Managing Member

                    /s/ Thomas F. Steyer
                   ----------------------------------------
                   FARALLON CAPITAL MANAGEMENT, L.L.C.,
                   By Thomas F. Steyer,
                   Senior Managing Member

                    /s/ Thomas F. Steyer
                   ----------------------------------------
                   Thomas F. Steyer, individually and as
                   attorney-in-fact for each of Enrique H. Boilini,
                   David I. Cohen, Joseph F. Downes, William F. Duhamel,
                   Fleur E. Fairman, Jason M. Fish, Andrew B. Fremder,
                   Richard B. Fried, William F. Mellin, Stephen L. Millham,
                   Meridee A. Moore and Mark C. Wehrly.

      The Powers of Attorney,  each executed by Boilini, Cohen, Downes, Fairman,
Fish,  Fremder,  Mellin,  Millham and Moore authorizing  Steyer to sign and file
this Schedule 13G on each person s behalf, which were filed with Amendment No. 1
to the  Schedule  13D filed  with the  Securities  and  Exchange  Commission  on
September 26, 1997, by such  Reporting  Persons with respect to the Common Stock
of Sphere Drake Holdings  Limited,  are hereby  incorporated  by reference.  The
Powers of Attorney executed by Duhamel and Fried authorizing  Steyer to sign and
file this Schedule 13G on each person s behalf,  which were filed with Amendment
No. 1 to the Schedule 13D filed with the Securities  and Exchange  Commission on
January 13, 1999, by such Reporting Persons with respect to the Callable Class A
Common  Shares  of  CliniChem  Development  Inc.,  are  hereby  incorporated  by
reference.  The Power of Attorney executed by Mark C. Wehrly  authorizing Steyer
to sign and file this Schedule 13G on his behalf, which was filed with Amendment
No. 4 to the Schedule 13D filed with the Securities  and Exchange  Commission on
January 18, 2000,  by such  Reporting  Person with respect to the Class A Common
Stock of  Momentum  Business  Applications,  Inc.,  is  hereby  incorporated  by
reference.

                              Page 26 of 26 Pages


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