<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 15)
NATIONAL R.V. HOLDINGS, INC.
(Name of Issuer)
Common Stock par value $0.01
(Title of Class of Securities)
637277104
(CUSIP Number)
Stephen M. Davis, Esq.
Werbel & Carnelutti
A Professional Corporation
711 Fifth Avenue, New York, New York 10022, (212) 832-8300
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
November 3, 1998
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule
13G to report the acquisition which is the subject of this
Schedule 13D, and is filing this schedule because of Rule 13-d-
1(b)(3) or (4), check the following box [ ].
The information required on the remainder of this cover page
shall not be deemed to be "filed" for the purposes 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).
Page 1 of 29 Pages<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- ------------------
CUSIP No. 637277104 Page 2 of 29 Pages
- ------------------- ------------------
=================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Gary N. Siegler
- ----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP(a) [ ](b)[X]
- ----------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------
4 SOURCE OF FUNDS
PF, OO
- --------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E)[ ]
- ----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ----------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- ----------------------------------------------------------------
7 SOLE VOTING POWER
637,885 (Includes 523,044 options)
- ----------------------------------------------------------------
8 SHARED VOTING POWER
549,771
- ----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
637,885 (Includes 523,044 options)
- ----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
549,771
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,187,656 (Includes 523,044 options)
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES[ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.1%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- ----------------
CUSIP No. 637277104 Page 3 of 29 Pages
- ------------------- -----------------
=================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Peter M. Collery
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP(a) [ ](b) [X]
- -----------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------
4 SOURCE OF FUNDS
PF, OO
- -----------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E)[ ]
- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -----------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------
7 SOLE VOTING POWER
162,000 (includes 123,750 underlying options)
- -----------------------------------------------------------------
8 SHARED VOTING POWER
549,771
- -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
162,000 (includes 123,750 underlying options)
- -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
549,771
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
711,771 (includes 123,750 underlying options)
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.9%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 637277104 Page 4 of 29 Pages
- ------------------- -----------------
=================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Arena-NRV Investors, L.P.
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP(a) [x] (b)[ ]
- -----------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------
4 SOURCE OF FUNDS
WC
- -----------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E)[ ]
- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------
8 SHARED VOTING POWER
86,112
- -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
86,112
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
86,112
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.8%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 637277104 Page 5 of 29 Pages
- ------------------- -----------------
=================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
The SC Fundamental Value Fund, L.P.
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP(a) [X](b) [ ]
- -----------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------
4 SOURCE OF FUNDS
WC, OO
- -----------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E)[ ]
- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------
8 SHARED VOTING POWER
131,736
- -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
131,736
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
131,736
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.3%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 637277104 Page 6 of 29 Pages
- ------------------- -----------------
=================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
SC Fundamental Value BVI, Inc.
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP(a) [X](b) [ ]
- -----------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------
4 SOURCE OF FUNDS
OO
- ----------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E)[ ]
- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------
7 SOLE VOTING POWER
0
- ----------------------------------------------------------------
8 SHARED VOTING POWER
66,079
- -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
66,079
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
66,079
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.6%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 637277104 Page 7 of 29 Pages
- ------------------- ------------------
=================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
SC Fundamental Inc.
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP(a)[X] (b) [ ]
- -----------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------
4 SOURCE OF FUNDS
OO
- -----------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E)[ ]
- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------
8 SHARED VOTING POWER
131,736
- -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
131,736
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
131,736
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.3%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 637277104 Page 8 of 29 Pages
- ------------------- -----------------
=================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Siegler, Collery & Co.
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP(a)[X] (b) [ ]
- -----------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------
4 SOURCE OF FUNDS
OO
- -----------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E)[ ]
- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------
8 SHARED VOTING POWER
80
- -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
80
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
80
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.0008%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 637277104 Page 9 of 29 Pages
- ------------------- ------------------
=================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Siegler, Collery & Co. Employees' Savings and Profit SharingPlan
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP(a)[X] (b) [ ]
- -----------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------
4 SOURCE OF FUNDS
WC
- -----------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E)[ ]
- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------
8 SHARED VOTING POWER
7,548
- -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
7,548
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,548
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.07 %
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
EP
<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 637277104 Page 10 of 29 Pages
- ------------------- -----------------
=================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
R.V. Dolphin Partners, L.P.
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP(a)[X] (b)[ ]
- -----------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------
4 SOURCE OF FUNDS
WC
- -----------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E)[ ]
- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------
8 SHARED VOTING POWER
87,025
- -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
87,025
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
87,025
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.9%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 637277104 Page 11 of 29 Pages
- ------------------- -----------------
=================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Dolphin Partners II, L.P.
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP(a) [X](b) [ ]
- -----------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------
4 SOURCE OF FUNDS
WC
- -----------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E)[ ]
- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------
8 SHARED VOTING POWER
15,850
- -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
15,850
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
15,850
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2%
- ----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 637277104 Page 12 of 29 Pages
- ------------------- -----------------
=================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Insight Investors, L.P.
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[X] (b)[ ]
- -----------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------
4 SOURCE OF FUNDS
WC
- -----------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E)[ ]
- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------
8 SHARED VOTING POWER
145,156
- -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
145,156
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
145,156
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.4%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 637277104 Page 13 of 29 Pages
- ------------------- -----------------
=================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Motorhome Partners, L.P.
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[X] (b)[ ]
- -----------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------
4 SOURCE OF FUNDS
WC
- -----------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E)[ ]
- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------
8 SHARED VOTING POWER
10,185
- -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
10,185
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,185
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.1%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------ ------------------
CUSIP No. 637277104 Page 14 of 29 Pages
- ------------------- -----------------
=================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
SC-BVI Partners
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[X] (b)[ ]
- -----------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------
4 SOURCE OF FUNDS
OO
- -----------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E)[ ]
- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------
8 SHARED VOTING POWER
66,079
- -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
66,079
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
66,079
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.6%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 637277104 Page 15 of 29 Pages
- ------------------- -----------------
=================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
SC Fundamental Value BVI, Ltd.
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[X] (b)[ ]
- -----------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------
4 SOURCE OF FUNDS
WC, OO
- -----------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E)[ ]
- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
- -----------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------
8 SHARED VOTING POWER
66,079
- -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
66,079
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
66,079
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.6%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 637277104 Page 16 of 29 Pages
- ------------------- -----------------
=================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
SC Fundamental, LLC
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[X] (b)[ ]
- -----------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------
4 SOURCE OF FUNDS
OO
- -----------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E)[ ]
- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- -----------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------
8 SHARED VOTING POWER
131,736
- -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
131,736
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
131,736
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.3%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 637277104 Page 17 of 29 Pages
- ------------------- -----------------
=================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
The Gary N. Siegler Foundation
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[X] (b)[ ]
- -----------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------
4 SOURCE OF FUNDS
OO
- -----------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E)[ ]
- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- -----------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------
8 SHARED VOTING POWER
70,057
- -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
70,057
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
70,057
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.7%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 637277104 Page 18 of 29 Pages
- ------------------- -----------------
=================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
SC-Dolphin, Inc.
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[X] (b)[ ]
- -----------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------
4 SOURCE OF FUNDS
OO
- -----------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E)[ ]
- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------
8 SHARED VOTING POWER
102,875
- -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
102,875
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
102,875
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.0%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 637277104 Page 19 of 29 Pages
- ------------------- -----------------
=================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Arena Capital Corp.
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[X] (b)[ ]
- -----------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------
4 SOURCE OF FUNDS
OO
- -----------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E)[ ]
- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------
8 SHARED VOTING POWER
86,112
- -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
86,112
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
86,112
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.8%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 637277104 Page 20 of 29 Pages
- ------------------- -----------------
=================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Neil H. Koffler
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[ ] (b)[X]
- -----------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------
4 SOURCE OF FUNDS
WC, OO
- -----------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E)[ ]
- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -----------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------
7 SOLE VOTING POWER
77,905 (Includes 73,458 options)
- -----------------------------------------------------------------
8 SHARED VOTING POWER
197,815
- -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
77,905 (Includes 73,458 options)
- -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
197,815
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
275,720 (Includes 73,458 options)
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.7%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
<PAGE>
<PAGE> Page 21 of 29 Pages
AMENDMENT NO. 15
TO THE
SCHEDULE 13D
This statement constitutes Amendment No. 15 to the Schedule 13D
relating to the Common Stock, par value $0.01 per share ("Common
Stock"), of National R.V. Holdings, Inc. (the "Issuer") filed by
SC Fundamental Inc. ("SC"), The SC Fundamental Value Fund, L.P.
("Fund"), SC Fundamental Value BVI, Inc. ("BVI Inc."), Gary N.
Siegler ("Siegler"), Peter M. Collery ("Collery"), Siegler,
Collery & Co ("SCC"), Siegler, Collery & Co. Employees' Savings
and Profit Sharing Plan ("Employee Plan"), R.V. Dolphin Partners,
L.P. ("R.V.-Dolphin"), Dolphin Partners II, L.P. ("Dolphin II"),
Insight Investors, L.P. ("Insight"), Arena-NRV Investors, L.P.
("Arena"), Motorhome Partners, L.P. ("Motorhome"), The Gary N.
Siegler Foundation ("Foundation"), Arena Capital Corp.
("Capital"), SC-Dolphin, Inc. ("Dolphin"), SC Fundamental, LLC
("SCFLLC"), SC Fundamental Value BVI, Ltd. ("BVI Fund"), SC-BVI
Partners and Neil H. Koffler ("Koffler") (collectively, the
"Reporting Persons").
Item 5.Interest in Securities of the Issuer
(a) As of the close of business on November 5, 1998, the
Reporting Persons, by virtue of the language of Rule
13d-3(d)(1)(i), may be deemed to own beneficially in the
aggregate the number and percentage of the Issuer's Common Stock
set forth opposite their names below (based upon 10,206,588
Shares that were reported to be outstanding by the Issuer on
November 2, 1998 in its September 30, 1998 Form 10-Q).
<PAGE>
<PAGE> Page 22 of 29 Pages
<TABLE>
<CAPTION>
=================================================================
Shares of
Name Common Stock Percentage
- -----------------------------------------------------------------
<S> <C> <C>
SC Fundamental Inc. 131,736 1.3%
- -----------------------------------------------------------------
The SC Fundamental Value Fund, L.P. 131,736 1.3%
- -----------------------------------------------------------------
SC Fundamental Value BVI, Inc. 66,079 0.6%
- -----------------------------------------------------------------
Gary N. Siegler (1) 1,187,656 11.1%
- -----------------------------------------------------------------
Peter M. Collery (2) 711,771 6.9%
- -----------------------------------------------------------------
Arena-NRV Investors, L.P. 86,112 0.8%
- -----------------------------------------------------------------
Arena Capital Corp. 86,112 0.8%
- -----------------------------------------------------------------
Dolphin Partners II, L.P. 15,850 0.2%
- -----------------------------------------------------------------
Motorhome Partners, L.P. 10,185 0.1%
- -----------------------------------------------------------------
Insight Investors, L.P. 145,156 1.4%
- -----------------------------------------------------------------
R.V. Dolphin Partners, L.P. 87,025 0.9%
- -----------------------------------------------------------------
Siegler, Collery & Co. 80 0.0008%
- -----------------------------------------------------------------
Siegler, Collery & Co. Employee's
Savings and Profit Sharing Plan 7,548 .07%
- -----------------------------------------------------------------
SC-BVI Partners 66,079 0.6%
- -----------------------------------------------------------------
SC Fundamental Value BVI, Ltd. 66,079 0.6%
- -----------------------------------------------------------------
SC Fundamental, LLC 131,736 1.3%
- -----------------------------------------------------------------
The Gary N. Siegler Foundation 70,057 0.7%
- -----------------------------------------------------------------
SC-Dolphin, Inc. 102,876 1.0%
- -----------------------------------------------------------------
Neil H. Koffler(3) 275,720 2.7%
=================================================================
<FN>
- ------------
/TABLE
<PAGE>
<PAGE> Page 23 of 29 Pages
- ---------------------
(1)Includes 523,044 shares underlying options.
(2)Includes 123,750 shares underlying options.
(3)Includes 73,458 shares underlying options.
(b) Siegler and Collery, by virtue of their status as principal
members of SCFLLC, the general partner of Fund, and as the
controlling stockholders, directors and executive officers of SC,
the corporate member and manager of SCFLLC, may be deemed to
share with Fund, SCFLLC and SC the power to vote or direct the
vote and to dispose or to direct the disposition of shares of
Common Stock of which Fund is the direct beneficial owner.
Koffler, by virtue of his status as employee members of SCFLLC,
the general partner of Fund, may be deemed to share with Fund and
SCFLLC the power to vote or direct the vote and to dispose or to
direct the disposition of shares of Common Stock of which Fund is
the direct beneficial owner.
Siegler and Collery, by virtue of their status as controlling
stockholders, directors and executive officers of BVI Inc., the
managing general partner of SC-BVI Partners, which is the
investment manager of BVI Fund, may be deemed to share with BVI
Inc., SC-BVI Partners and BVI Fund the power to vote or direct
the vote and to dispose or direct the disposition of shares of
Common Stock of which BVI Fund is the direct beneficial owner.
Koffler, by virtue of his status as an officer of BVI, Inc., may
be deemed to share with BVI Fund the power to vote or direct the
vote and to dispose or direct the disposition of shares of Common
Stock of which BVI Fund is the direct beneficial owner. Because
BVI Fund and SC-BVI Partners could be deemed to share with BVI
Inc. the power to vote or direct the vote and the power to
dispose or direct the disposition of such shares of Common Stock
(and as to which BVI Inc. exercises such power), BVI Fund and SC-
BVI Partners are also Reporting Persons.
Siegler and Collery, by virtue of their status as controlling
stockholders, directors and executive officers of Dolphin, the
general partner of R.V.-Dolphin and Dolphin II, may be deemed to
share with Dolphin, R.V.-Dolphin and Dolphin II the power to vote
or direct the vote and to dispose or direct the disposition of
shares of Common Stock of which each of R.V.-Dolphin and Dolphin
II is the direct beneficial owner.
Siegler and Collery, by virtue of their status as controlling
stockholders, directors and executive officers of Capital, the
general partner of Arena, may be deemed to share with Capital and
Arena the power to vote or direct the vote and dispose or direct
the disposition of shares of Common Stock of which Arena to is
the direct beneficial owner.
<PAGE>
<PAGE> Page 24 of 29 Pages
Siegler and Collery, by virtue of their status as controlling
stockholders, directors and executive officers of SCC, the
general partner of each of Motorhome and Insight, may be deemed
to share with SCC, Motorhome and Insight the power to vote or
direct the vote and to dispose or direct the disposition of
shares of Common Stock of which each of SCC, Motorhome and
Insight is the direct beneficial owner.
Siegler and Collery, by virtue of their status as trustees of the
Employee Plan, may be deemed to share with
Employee Plan the power to vote or direct the vote and to dispose
or direct the disposition of shares of Common Stock of which
Employee Plan is the direct beneficial owner.
Siegler, by virtue of his status as the sole director and officer
of Foundation, may be deemed to share with Foundation the power
to vote or direct the vote and to dispose or to direct the
disposition of shares of Common Stock of which Foundation is the
direct beneficial owner.
Siegler has the sole power to vote or direct the vote and to
dispose or to direct the disposition of 637,885 shares of Common
Stock of which he is the direct beneficial owner.
Collery has the sole power to vote or direct the vote and to
dispose or to direct the disposition of 162,000 shares of Common
Stock of which he is the direct beneficial owner.
Koffler has the sole power to vote or direct the vote and to
dispose or to direct the disposition of 77,905 shares of Common
Stock of which he is the direct beneficial owner.
Effective October 16, 1998, Curtis C. Macnguyen ceased to be a
member of SCFLLC and an officer of BVI Inc. and, consequently, is
no longer a Reporting person.
(c)The following table sets forth the transactions effected by
each of the Reporting Persons listed in Item 5(a)
during the past 60 days. Unless otherwise noted, each of the
transactions set forth below reflects a sale effected on the
Nasdaq National Market.<PAGE>
<PAGE> Page 25 of 29 Pages
<TABLE>
<CAPTION>
=================================================================
BVI, Inc.
Trade Price Per on behalf Profit
Date Share ($) Fund of BVI, Ltd. Siegler Sharing
- -----------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
10/23/98 24.0114 3,520 1,760 5,280 440
- -----------------------------------------------------------------
10/26/98 24.0000 2,400 1,200 3,600 300
- -----------------------------------------------------------------
10/27/98 23.5000 2,400 1,200 3,600 300
- -----------------------------------------------------------------
10/28/98 23.0000 1,728 864 2,592 216
- -----------------------------------------------------------------
10/29/98 22.8210 640 320 960 80
- -----------------------------------------------------------------
10/30/98 23.1573 7,680 3,840 11,520 960
- -----------------------------------------------------------------
11/02/98 24.0047 8,960 4,480 13,440 1,120
- -----------------------------------------------------------------
11/03/98 24.6567 8,320 4,160 12,480 1,040
- -----------------------------------------------------------------
11/04/98 25.9858 6,784 3,392 10,176 848
- -----------------------------------------------------------------
11/04/98 25.8875 2,720 1,360 4,080 340
- -----------------------------------------------------------------
11/05/98 25.7500 1,408 704 2,112 176
- -----------------------------------------------------------------
11/05/98 25.9051 13,056 6,528 19,584 1,632
=================================================================
</TABLE>
On October 28, 1998, Gary N. Siegler elected to exercise options
for 6,500 shares of the Issuer's Common Stock at an exercise
price of $4.613 per share. Such options were granted to Mr.
Siegler pursuant to the Issuer's 1993 Option Plan. Mr. Siegler
elected to pay the exercise price for such shares with 1,270
shares of the Issuer's Common Stock owned by him.
On October 30, 1998, Gary N. Siegler elected to exercise options
for 9,000 shares of the Issuer's Common Stock at an exercise
price of $4.613 per share. Such options were granted to Mr.
Siegler pursuant to the Issuer's 1993 Option Plan. Mr. Siegler
elected to pay the exercise price for such shares with 1,872
shares of the Issuer's Common Stock owned by him.
<PAGE>
<PAGE> Page 26 of 29 Pages
On November 2, 1998, Gary N. Siegler elected to exercise options
for 25,000 shares of the Issuer's Common Stock at an exercise
price of $4.613 per share. Such options were granted to Mr.
Siegler pursuant to the Issuer's 1993 Option Plan. Mr. Siegler
elected to pay the exercise price for such shares with 5,126
shares of the Issuer's Common Stock owned by him.
On November 3, 1998, Gary N. Siegler elected to exercise options
for 2,000 shares of the Issuer's Common Stock at an exercise
price of $4.613 per share. Such options were granted to Mr.
Siegler pursuant to the Issuer's 1993 Option Plan. Mr. Siegler
elected to pay the exercise price for such shares with 392 shares
of the Issuer's Common Stock owned by him.
On November 3, 1998, Gary N. Siegler elected to exercise options
for 16,000 shares of the Issuer's Common Stock at an exercise
price of $3.75 per share. Such options were granted to Mr.
Siegler pursuant to the Issuer's 1995 Stock Option Plan. Mr.
Siegler elected to pay the exercise price for such shares with
2,547 shares of the Issuer's Common Stock owned by him.
On November 4, 1998, Gary N. Siegler elected to exercise options
for 12,000 shares of the Issuer's Common Stock at an exercise
price of $3.75 per share. Such options were granted to Mr.
Siegler pursuant to the Issuer's 1995 Stock Option Plan. Mr.
Siegler elected to pay the exercise price for such shares with
1,807 shares of the Issuer's Common Stock owned by him.
On November 5, 1998, Gary N. Siegler elected to exercise options
for 10,000 shares of the Issuer's Common Stock at an exercise
price of $3.75 per share. Such options were granted to Mr.
Siegler pursuant to the Issuer's 1995 Stock Option Plan. Mr.
Siegler elected to pay the exercise price for such shares with
1,432 shares of the Issuer's Common Stock owned by him.
<PAGE> Page 27 of 29 Pages
After reasonable inquiry and to the best of our knowledge and
belief, we certify that the information set forth in this
statement is true, complete and correct.
Dated: November 5, 1998
SC FUNDAMENTAL INC. R.V. DOLPHIN PARTNERS, L.P.
By: SC DOLPHIN, INC.,
as General Partner
By: /s/ Peter M. Collery By: /s/ Peter M. Collery
- ------------------------- ----------------------------
Neil H. Koffler as Attorney- Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery in-Fact for Peter M. Collery
Vice President(1) Vice President(1)
THE SC FUNDAMENTAL VALUE FUND, INSIGHT INVESTORS, L.P.
L.P. By: SIEGLER, COLLERY & CO.,
as General Partner
By: SC FUNDAMENTAL, LLC,
as General Partner By: /s/ Peter M. Collery
-----------------------------
By: /s/ Peter M. Collery Neil H. Koffler as Attorney-in
- --------------------------- in-Fact for Peter M. Collery
Neil H. Koffler as Attorney- Vice President(1)
- -Fact for Peter M. Collery
Vice President(1)
SC FUNDAMENTAL VALUE BVI, INC. DOLPHIN PARTNERS II, L.P.
By: SC-DOLPHIN, INC.,
as General Partner
By: /s/ Peter M. Collery By: /s/ Peter M. Collery
- -------------------------- ----------------------------
Neil H. Koffler as Attorney- Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery in-Fact for Peter M. Collery
Vice President(1) Vice President(1)
/s/ Gary N. Siegler SIEGLER, COLLERY & CO.
- --------------------------- EMPLOYEES SAVINGS AND
Neil H. Koffler as Attorney- PROFIT SHARING PLAN
in-Fact for Gary N. Siegler(1)
By: /s/ Peter M. Collery
-------------------------
/s/ Peter M. Collery Neil H. Koffler as Attorney
- --------------------------- in-Fact for Peter M.
Neil H. Koffler as Attorney- Collery, Vice President(1)
in-Fact for Peter M. Collery(1)
<PAGE>
<PAGE> Page 28 of 29 Pages
ARENA-NRV INVESTORS, L.P. THE GARY N. SIEGLER FOUNDATION
By: ARENA CAPITAL CORP.,
as General Partner
By: /s/ Peter M. Collery By: /s/ Gary N. Siegler
- --------------------------- ----------------------------
Neil H. Koffler as Attorney- Neil H. Koffler, as
in-Fact for Peter M. Collery Attorney-in-Fact for
Vice President(1) Gary N. Siegler
President(1)
MOTORHOME PARTNERS, L.P.
By: SIEGLER, COLLERY & CO.,
as General Partner
By: /s/ Peter M. Collery
- -----------------------------
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery
Vice President(1)
SIEGLER, COLLERY & CO.
By: /s/ Peter M. Collery
- -----------------------------
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery
Vice President(1)
SC FUNDAMENTAL, LLC
By: SC FUNDAMENTAL INC.,
as Manager
By: /s/ Peter M. Collery
- --------------------------
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery
Vice President(1)
<PAGE>
<PAGE> Page 29 of 29 Pages
SC-BVI PARTNERS ARENA CAPITAL CORP.
By: SC FUNDAMENTAL VALUE BVI, By: /s/ Peter M. Collery
INC., as Managing General Partner ------------------------
Neil H. Koffler as
By: /s/ Peter M. Collery Attorney-in-Fact for
- ------------------------------- Peter M. Collery
Neil H. Koffler as Attorney- Vice President(1)
in-Fact for Peter M. Collery
Vice President(1)
SC-DOLPHIN, INC.
SC FUNDAMENTAL VALUE BVI, LTD. By: /s/ Peter M. Collery
-------------------------
BY: SC FUNDAMENTAL VALUE Neil H. Koffler as
BVI, INC., Attorney-in-Fact for
as Managing General Partner Peter M. Collery
of Investment Manager Vice President(1)
By: /s/ Peter M. Collery
- ----------------------------
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery
Vice President(1)
/s/ Neil H. Koffler
________________________
Neil H. Koffler
(1) Executed by Neil H. Koffler as Attorney-In-Fact for Peter M.
Collery and Gary N. Siegler. The Powers of Attorney forMessrs.
Collery and Siegler were filed as Exhibit A toAmendment No. 5 to
Schedule 13D relating to US FacilitiesCorporation on August 4,
1995 and is hereby incorporatedherein by reference.
129748
