<TABLE> <S> <C>

<PAGE>
<ARTICLE> 6
       
<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               MAR-31-1997
<INVESTMENTS-AT-COST>                        4,223,241
<INVESTMENTS-AT-VALUE>                       3,522,706
<RECEIVABLES>                                1,489,508
<ASSETS-OTHER>                                  27,184
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               5,079,398
<PAYABLE-FOR-SECURITIES>                       220,000
<SENIOR-LONG-TERM-DEBT>                        487,563
<OTHER-ITEMS-LIABILITIES>                    1,083,173
<TOTAL-LIABILITIES>                          1,790,776
<SENIOR-EQUITY>                                 10,716
<PAID-IN-CAPITAL-COMMON>                     8,963,252
<SHARES-COMMON-STOCK>                       10,716,182
<SHARES-COMMON-PRIOR>                       10,716,182
<ACCUMULATED-NII-CURRENT>                     (81,648)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                    (4,434,883)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                   (1,290,423)
<NET-ASSETS>                                 3,248,662
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  81,648
<NET-INVESTMENT-INCOME>                       (81,648)
<REALIZED-GAINS-CURRENT>                             0
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                         (81,648)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                        (81,648)
<ACCUMULATED-NII-PRIOR>                    (4,353,235)
<ACCUMULATED-GAINS-PRIOR>                  (1,290,423)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                               7,188
<GROSS-EXPENSE>                                 81,648
<AVERAGE-NET-ASSETS>                         3,289,486
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                  (.01)
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                .30
<EXPENSE-RATIO>                                    .02
<AVG-DEBT-OUTSTANDING>                       1,842,606
<AVG-DEBT-PER-SHARE>                               .17
        

</TABLE>