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OMB APPROVAL
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OMB Number 3235-0287
Expires: September 30, 1998
Estimated average burden
hours per response ....... 0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[ ] Check this box if no longer subject of Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person
Feinberg Stephen
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(Last) (First) (Middle)
450 Park Avenue, 28th Floor
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(Street)
New York NY 10022
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
American Skiing Company (SKI)
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
July/1998
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] Director [ X*] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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7. Individual or Joint/Group Filing (Check Applicable Line)
[X*] Form filed by One Reporting Person
[ ] Form filed by More than One Reporting Persion
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
TRANSACTIONS BY CERBERUS PARTNERS, L.P.*
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Common Stock 7/30/98 P 108,300* A $9.75 I* *
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Common Stock 7/31/98 P 29,600* A 9.75 ** I* *
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TRANSACTIONS BY CERBERUS INTERNATIONAL, LTD.*
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Common Stock 7/30/98 S 10,000* D 9.79 I* *
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Common Stock 7/30/98 P 59,600* A 9.87 I* *
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Common Stock 7/30/98 P 207,500* A 9.75 I* *
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Common Stock 7/31/98 S 3,300* D 9.87 I* *
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Common Stock 7/31/98 S 2,100* D 10.00 I* *
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Common Stock 7/31/98 P 80,200* A 9.75 ** I* *
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TRANSACTIONS BY ULTRA CERBERUS FUND, LTD.*
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Common Stock 7/30/98 P 18,700* A 9.75 I* *
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Common Stock 7/31/98 P 5,100* A 9.75 ** I* *
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TRANSACTIONS BY THE FUNDS*
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Common Stock 7/30/98 P 120,400* A 9.75 I* *
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Common Stock 7/31/98 P 32,900* A 9.75 ** I* *
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
*If form is filed by more than one reporting person, see Instruction 4(b)(v).
<PAGE>
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
9. 10.
Number Owner-
of ship
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
of Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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</TABLE>
Explanation of Responses:
(*) The reporting person possesses voting and investment control over all
securities of American Skiing Company owned by Cerberus Partners, L.P.
("Cerberus"), Cerberus International, Ltd. ("International"), Ultra Cerberus
Fund, Ltd. ("Ultra") and various persons and entities for which the reporting
person possesses certain investment authority (the "Funds"). The reporting
person's interest is limited to the extent of his pecuniary interest, if any, in
Cerberus, International, Ultra and The Funds.
(**) The reporting person indirectly through one or more partnerships or other
entities beneficially owns 2,788,771 shares of the Common Stock of American
Skiing Company as of July 31, 1998. However, the reporting person's interest in
such shares is limited to his pecuniary interest, if any, in Cerberus,
International, Ultra and the Funds.
/s/ Stephen Feinberg August 8, 1998
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**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedures.
Potential persons who are to respond to the collection of information
contained in this form are not required unless the form displays a
currently valid OMB Number
