Form 10-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, 1997
    
    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 September 30, 1997 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, 1997, (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, 1997, commenced active business
    operations. As of September 30, 1997 the Registrant 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,
    1997  
    
    
    
    
    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:     May 26, 1998
    
    NATIONAL ADVERTISING GROUP, INC
    (A DEVELOPMENT STAGE COMPANY)
    BALANCE SHEET
    SEPTEMBER 30, 1997 (UNAUDITED) AND DECEMBER 31, 1996
    (AUDITED)
    
                                       UNAUDITED      AUDITED
                                       09/30/97       12/31/96
    ASSET
    
    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      $  1,000
    
    Shareholders' Equity 
    (Deficiency in assets):
    Common Stock, par value $0.001 
    per share; 10,000,000 shares authorized,
    issued and outstanding-1,000,000        $ 9,400   $ 9,400
    Additional Paid-In Capital               11,190     6,690
    Preferred Stock, par value $.10 per
    share; 10,000,000 shares authorized,
    no shares issued and outstanding        - 0 -        - 0 -
    Deficit accumulated during the
    development stage                                            
                                            (20,590)   (16,083)
    
    Total Shareholders' Equity 
    (Deficiency in assets)                        0     (1,000)
    
    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, 1997 AND 1996
    (UNAUDITED)
    
                                            1997      1996    
    
    Revenues                                $  - 0  - $  - 0  -   
                                          
    Total Revenues                          $  - 0 -  $  - 0  -
    
    
    
    Expenses:
    Accounting and professional fees       $    -0-  
    Amortization                           $    -0-   $    4
    
    Total Expenses                         $    -0-   $    4
    
    
    Net Loss                               $    -0-    $(  4)  
    
    
    
    
    
    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, 1997 AND 1996
    (UNAUDITED)
    
    
                                            1997      1996
    
    Shareholders' Equity:
         Beginning of period                $  0      $  10
    
    Additions                               $  0      $   0     
    
    Deductions
         Net loss for the three months
         ended September 30, 1997
         Deficit accumulated during
         development stage                  $  0      $  (10)
    
    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, 1997 AND 1996
    
    
                                            1997      1996
    
    CASH FLOW FROM OPERATING ACTIVITIES
         
         Net loss                           $  (0)    $  (4)
         Adjustment to reconcile net 
         loss to Net cash used by
         operating activities:
                Amortization                $   0     $   4
    
         Net cash used by operating 
           activities                       $   0     $   0
    
    CASH FLOW FROM INVESTING ACTIVITIES     $   0     $   0
    
    CASH FLOW FROM FINANCING ACTIVITIES     $   0     $   0
    
    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 are being 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, 1997 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