SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
SITEL CORPORATION
(Name of Issuer)
Common Stock, $.001 par
(Title of Class of Securities)
82980K 10 7
(CUSIP Number)
*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 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of
the Act (however, see the Notes).
CUSIP No. 82980K 10 7
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
James F. Lynch
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE
INSTRUCTIONS)
/ / a
/ / b
3) SEC USE ONLY
4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
NUMBER OF (5) SOLE VOTING POWER 14,633,234
SHARES
BENEFICIALLY (6) SHARED VOTING POWER 280,750
OWNED BY
EACH (7) SOLE DISPOSITIVE 7,719,250
REPORTING POWER
PERSON WITH (8) SHARED DISPOSITIVE 270,750
POWER
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
14,633,234
10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS)
/ /
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
23.20%
12) TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
SCHEDULE 13G
Item 1(a) Name of Issuer:
SITEL Corporation
Item 1(b) Address of Issuer's Principal Executive Offices:
300 E. Lombard
Suite 850
Baltimore, Maryland 21202
Item 2(a) Name of Person Filing:
James F. Lynch
Item 2(b) Address of Principal Office or, if none, Residence:
300 E. Lombard
Suite 850
Baltimore, Maryland 21202
Item 2(c) Citizenship:
United States of America
Item 2(d) Title of Class of Securities:
Common Stock, par $.001
Item 2(e) CUSIP Number:
82980K 10 7
Item 3 If This Statement Is Filed Pursuant to Rules 13d-1(b) or 13d-2(b):
Not applicable
Item 4(a) Amount Beneficially Owned:
14,633,234* shares as of December 31, 1997
*Includes 6,625,564 shares owned by other stockholders over which
Mr. Lynch exercises voting control pursuant to a voting agreement. Also
includes 280,750 shares held by two 501(c)(3) organizations established
by Mr. Lynch. Mr. Lynch has shared voting and/or investment power with
respect to these 280,750 shares but disclaims beneficial ownership thereof.
Also includes shares which Mr. Lynch may acquire upon exercise of stock
options exercisable within 60 days after December 31, 1997.
Item 4(b) Percent of Class:
23.20% (based on 63,076,542 shares outstanding as of December 31, 1997)
Item 4(c) Number of shares as to which reporting person has:
(i) sole power to vote or to direct the vote - 14,344,814
(ii) shared power to vote or direct the vote - 280,750
(iii) sole power to dispose or direct the disposition of -
7,719,250
(iv) shared power to dispose or direct the disposition of -
270,750
Item 5 Ownership of Five Percent or Less of a Class:
Not applicable
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:
Not applicable
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete
and correct.
Date: February 11, 1998.
/s/ JAMES F. LYNCH
James F. Lynch
