UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G/A
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Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Ambassadors International, Inc.
--------------------------------------------
(Name of Issuer)
Common Stock
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(Title of Class of Securities)
023178-10-6
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(CUSIP Number)
Check the following box if a fee is being paid with this statement [ ].
(A fee is not required only if the filing person: (1) has a previous
statement on file reporting beneficial ownership of more than five
percent of the class of securities described in Item 1; and (2) has
filed no amendment subsequent thereto reporting beneficial ownership
of five percent or less of such class.) (See Rule 13d-7).
*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).
<PAGE>
CUSIP NO. 023178-10-6 13G/A
-----------
______________________________________________________________________
1 | NAME OF REPORTING PERSON
| S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
|
| Peter V. Ueberroth
___|__________________________________________________________________
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
| (b) [X]
___|__________________________________________________________________
3 | SEC USE ONLY
___|__________________________________________________________________
4 | CITIZENSHIP OR PLACE OF ORGANIZATION
|
| California
___|__________________________________________________________________
| 5 | SOLE VOTING POWER
NUMBER OF | |
| | 1,353,575
SHARES | __|__________________________________________________
| 6 | SHARED VOTING POWER
BENEFICIALLY | |
| | 0
OWNED BY | __|__________________________________________________
| 7 | SOLE DISPOSITIVE POWER
EACH | |
| | 1,353,575
REPORTING | __|__________________________________________________
| 8 | SHARED DISPOSITIVE POWER
PERSON WITH | |
| | 0
_______________|___|__________________________________________________
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|1,353,575
___|__________________________________________________________________
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
| SHARES*
|
| X
___|__________________________________________________________________
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
|
| 13.7%
___|__________________________________________________________________
12 | TYPE OF REPORTING PERSON*
|
| IN
___|__________________________________________________________________
*SEE INTRUCTION BEFORE FILLING OUT!
Page 2 of 4 pages
<PAGE>
SCHEDULE 13G/A
ITEM 1. (a) Name of Issuer:
Ambassadors International, Inc.
(b) Address of Issuer's Principal Executive Office:
110 South Ferrall Street, Spokane, Washington 99202
ITEM 2. (a) Name of Person Filing:
Peter V. Ueberroth
(b) Address of Principal Business Office, or, if none,
Residence:
The Contrarian Group, 1017 Camelback Street,
Suite 111, Newport Beach, CA 92660
(c) Citizenship:
California
(d) Title of Class of Securities:
Common Stock
(e) CUSIP Number: 023178-10-6
ITEM 3. Statement filed pursuant to Rule 13d-1(b), or 13d-2(b):
Not applicable
ITEM 4. Ownership:
(a) Amount Beneficially Owned:
1,353,575
(b) Percent of Class:
13.7%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
1,353,575
(ii) shared power to vote or to direct the vote:
0
(iii) sole power to dispose or to direct the
disposition of:
1,353,575
(iv) shared power to dispose or to direct the
disposition of:
0
Page 3 of 4 pages
<PAGE>
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 Duration 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.
1/31/99
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Date
/s/Peter V. Ueberroth
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Signature
Peter V. Ueberroth
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Name/Title
Page 4 of 4 pages
<PAGE>
