FORM 1O-Q
                        SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, D~C. 20549

                     Quarterly Report Under Section 13 or 15(d)
                       of the Securities Exchange Act of 1934

For Quarter Ended:            September 30, 1998

Commission File Number:       0-19505


                          NATIONAL  ADVERTlSING GROUP, INC.
                 (exact name of registrant as specified in its charter)


       Florida                                      65-274107
(State or other jurisdiction of              (IRS Employer I.D. No.)
Incorporation of organization)


                  P.O. Box 403624, Miami Beach, Florida 33140
                   (Address of principal executive offices)

                                  (305) 535-9700
              (Registrant's telephone number, including area code)


                ________________________________________________
 (former name, address and former fiscal year, if changed from last report)


Indicate by check mark whether the registrant (1) has filed all 
reports required to be filed by Section 13 or 15(d) of the Securities and 
Exchange Act of 1934 during the preceding 12 months (or for such short 
period that the registrant was required to file such reports), and (2) has 
been subject to such filing requirements for the past 90 days.
  $3
             YES   X                                 NO


                        APPLICABLE ONLY TO CORPORATE ISSUERS:

Indicate the number of shares outstanding of each of the issuer's 
classes of Common Stock, as of the latest practicable date.

As of October 29, 1998 there were 10,000,000 shares of Common Stock 
outstanding



                         PART I - FINANCIAL INFORMATlON


Item 1.          Financial Statements.

                 See financial statements for the three month period ended 
                 September 30, 1998, (unaudited), attached as an exhibit.

Item 2.          Management's Discussion and Analysis of Financial Condition 
                 and Results of Operations.

                 The Registrant has not, as of the end of the three month 
                 period ended September 30, 1998, commenced active business 
                 operations. As of September 30, 1998 theRegistrant had 
                 total assets of $0 which consists of Total Stockholders'
                 Equity.

                 The Registrant has no reasonable basis for comparison with 
                 respect to its quarterly financial results in that the
                 Company has not yet commenced its business operations.


                          PART II - OTHER INFORMATION


Item 1-5.        Not Applicable

Item 6.          Exhibits.

                 Financial Statements (unaudited) of National Advertising 
                 Group, Inc. for the three month period ended 
                 September 30, 1998  














                                    SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, 
the registrant has duly caused this report to be signed on its behalf by 
the undersigned thereunto duly authorized.

                                         Registrant:

                                         NATIONAL ADVERTlSING GROUP, INC.





                                         By:___________________________
                                               JAMES CHOW
                                               President

Date: October 29, 1998

                           NATIONAL ADVERTISING GROUP, INC
                            (A DEVELOPMENT STAGE COMPANY)
                                    BALANCE SHEET
        SEPTEMBER 30, 1998 (UNAUDITED) AND DECEMBER 31, 1997 (AUDITED)




                                            UNAUDITED         AUDITED
                                            09/30/98          12/31/97


                                      ASSETS

Cash                                        $     -0-        $      -0-
Other Asset:
 Organizational  Costs                            70                70
 Accumulated Amortization                        (70)              (70)

Total Assets                                       0                 0          

         LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIENCY IN ASSETS)

Liabilities:

Accrued expenses                            $      0         $   2,000

Shareholders' Equity (Deficiency in assets):
Common Stock, par value $0.001 per share;
    1,000,000 shares authorized,
    issued and outstanding-1,000,000        $ 10,000         $  10,000
Additional Paid-In Capital                    28,347            20,590
Preferred Stock, par value $.10 per
share; 1,000,000 shares authorized,
no shares issued and outstanding                  -0-               -0-
Deficit accumulated during the
development stage                            (38,347)          (32,590)

Total Shareholders' Equity
   (Deficiency in assets)                          0            (2,000)
                                              _______           _______
Total Liabilities and Stockholders' Equity  $     -0-        $      -0-  


                  See accompanying Notes to Financial Statements
                                        F-I

                           NATIONAL ADVERTISING GROUP, INC.
                            (A DEVELOPMENT STAGE COMPANY)
                               STATEMENT OF OPERATIONS
               FOR THE THREE MONTHS ENDED SEPTEMBER 30, 1998 AND 1997
                                    (UNAUDITED)




                                             1998            1997    


Revenues                                     $  -0-          $   -0-

Total Revenues                               $  -0-          $   -0-


Expenses:
     Accounting and professional fees        $ 500-         $  4,500
 Amortization                                $  -0-         $      0

Total Expenses                               $ 500          $  4,500


Net Loss                                     $(500)         $ (4,500)  



 





                  See Accompanying Notes to Financial Statements

                                        F-2

                           NATIONAL ADVERTISING GROUP, INC.
                            (A DEVELOPMENT STAGE COMPANY)
                    STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY
              FOR THE THREE MONTHS ENDED SEPTEMBER 30, 1998 AND 1997
                                    (UNAUDITED)


                                            1998             1997

Shareholders' Equity:
     Beginning of period                   $    0          $     0

Additions 

     Shareholders' contribution 
     to paid in capital                    $  500          $  4,500

Deductions
     Net loss for the three months
     ended September 30, 1998 and 1997  
     Deficit accumulated during
     development stage                     $ (500)         $ (4,500)

Ending balance as of September 30          $    0          $     -0-


    

















                 See Accompanying Notes to Financial Statements

                                        F-3

                           NATIONAL ADVERTISING GROUP, INC.
                            (A DEVELOPMENT STAGE COMPANY)
                                STATEMENT OF CASH FLOW
                    THREE MONTHS ENDED SEPTEMBER 30, 1998 AND 1997


                   

                                            1998             1997

CASH FLOW FROM OPERATING ACTIVITIES
 
   Net loss                                 $ (500)          $(4,500)
   Adjustment to reconcile net loss to
     Net cash used by operating activities:
     Amortization                           $    0           $     0

     Net cash used by operating activities  $ (500)          $(4,500)

CASH FLOW FROM INVESTING ACTIVITIES         $    0           $     0

CASH FLOW FROM FINANCING ACTIVITIES         $    0           $     0

Shareholders' contribution to paid 
    in capital                              $   500          $ 4,500

NET INCREASE (DECREASE) IN CASH             $     0          $     0

Cash - Beginning of Period                  $     0          $     0

Cash - End of Period                        $     0          $     0












                   See Accompanying Notes to Financial Statements

                                        F-4

                           NATIONAL ADVERTISING GROUP, INC.
                            (A DEVELOPMENT STAGE COMPANY)
                            NOTES TO FINANCIAL STATEMENTS
                                    (UNAUDITED)




NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

     Business Activity

National Advertising Group, Inc. (the Company) was organized under the 
laws of the State of Florida on July 25, 1991. The Company is a 
development stage entity which has not yet commenced business operations. 
The Company intends to acquire an operating entity, however, it has not 
yet targeted an acquisition.

     Organizational Costs

Organizational costs consist of expenditures incurred in the formation of 
the company. These costs were amortized ratably over a period of sixty 
months.


NOTE 2 - In the opinion of management the accompanying unaudited financial 
statements contain all adjustments necessary to present fairly National 
Advertising Group, Inc.'s financial position as of September 30, 1998 and 
the results of its operations, changes in the shareholders' equity and 
cash flows for the three months then ended.

NOTE 3 - On April 10, 1997, the Company reversed split its outstanding 
shares of common stock 1 for 10, thereby reducing the number of shares 
outstanding to 1,000,000.

NOTE 4 - On April 10,1997, subsequent to the reverse split referred to in 
Note 3, the Company issued 9,000,000 shares of its common stock to Florida 
Atlantic Group, Inc. for services, bringing the number of shares 
outstanding to 10,000,000.

NOTE 5 - On May 22, 1997, Florida Atlantic Group, Inc. sold 9,000,000 
shares of its common stock to Inter-Global Investments, Inc.  






                                        F-5

                      NAGI FINANCIAL DATA SCHEDULE 6-98 QTR


PERIOD TYPE           QUARTER
FISCAL YEAR END       DECEMBER 31, 1997
PERIOD END            SEPTEMBER 30, 1998
CASH                  0
SECURITIES            0
RECEIVABLES           0
ALLOWANCES            0
INVENTORY             0
CURRENT ASSETS        0
PP&F                  0
DEPRECIATION          0
TOTAL ASSETS          0
CURRENT LIABILITIES   0
BONDS                 0
PREFERRED MANDATORY   0
PREFERRED             0
COMMON                10,000
OTHER SE              <10,000>
TOTAL LIABILITY AND
STOCKHOLDER EQUITY    0
SALES                 0
TOTAL REVENUES        0
CGS                   0
TOTAL COSTS           0
OTHER EXPENSES        500
LOSS PROVISION        0
INTEREST EXPENSE      0
INCOME PRETAX         <500>
INCOME TAX            0
INCOME CONTINUING     0
CHANGES               0
NET INCOME            <500>
EPS PRIMARY           .00
EPS DILUTED           .00