SECURITIES AND EXCHANGE COMMISSION

                           Washington, D.C.  20549

                                 Form 10-QSB

                QUARTERLY REPORT UNDER SECTION 13 OR 15 (d)
                  OF THE SECURITIES EXCHANGE ACT OF 1934

For Quarter Ended April 30, 1997		Commission File No. 2-98314-W

                        MEDICAL ADVISORY SYSTEMS, INC.
            (Exact name of registrant as specified in its charter)

           Delaware                                      52-1233960
  (State of other Jurisdiction of         (I.R.S. Employer Identification No.)
   incorporated or organization)


8050 Southern Maryland Boulevard, Owings, Maryland   20736
(Address of principal executive offices)          (Zip Code)

Registrant's telephone number, including area code: (301) 855-8070

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 
Exchange Act of 1934 during the preceding 12 months (or for such 
shorter period that the registrant was required to file such reports), 
and (2) has been subject to such filing requirements for the past 90 
days.

                      Yes  X                        No __

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

         3,882,873 shares of Common Stock ($0.005 par value per share)
                       outstanding at January 31, 1997



                                 INDEX

                       MEDICAL ADVISORY SYSTEMS, INC.

PART I. FINANCIAL INFORMATION

Item 1.   Consolidated Financial Statements (Unaudited)
	
         Balance Sheet - April 30, 1997 and October 31, 1996

         Statement of Operations - Six  months ended April 30, 1997 and 1996

         Statement of Cash Flow - Six  months ended April 30, 1997 and 1996
	
         Notes of Condensed Financial Statements:  April 30, 1997

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

PART II.  OTHER INFORMATION

Item 1.  Legal Proceedings
Item 2.  Changes in Securities
Item 3.  Defaults from Senior Securities
Item 4.  Submission of Matters to a Vote of Security Holders
Item 5.  Other Information
Item 6.  Reports on Form 8-K and Exhibits.

SIGNATURES



                        MEDICAL ADVISORY SYSTEMS, INC.

                         CONSOLIDATED BALANCE SHEET

                                                        April 30    October 31
                                                          1997         1996
                                                              UNAUDITED
                                                               (NOTE-A)

ASSETS

  CURRENT ASSETS
       Cash                                          $   624,606   $   717,678
       Receivables, net                                  754,277       842,439
       Inventory - Pharmaceuticals                        25,570        20,133
       Prepaid expenses and other                         17,649           544
       Current deferred tax asset                         24,861        24,862 

           TOTAL CURRENT ASSETS                        1,446,963     1,605,656

  PROPERTY AND EQUIPMENT, NET                            949,687       781,829

  OTHER ASSETS

       Investments                                       364,969       364,969
       Deferred assets                                   309,041       306,167
           TOTAL OTHER ASSETS                        $   674,010   $   671,136

                 TOTAL ASSETS                        $ 3,070,660   $ 3,058,621

         The accompanying notes are an integral part of these statements.


                        MEDICAL ADVISORY SYSTEMS, INC.
                        
                   CONSOLIDATED BALANCE SHEET - CONTINUED

                   
                                                        April 30    October 31
                                                          1997         1996
                                                              UNAUDITED
                                                               (NOTE-A)

LIABILITIES AND SHAREHOLDER'S EQUITY

  CURRENT LIABILITIES

       Current Maturities LT Debt                    $   501,840   $    25,392
       Accounts payable & accrued expenses               411,692       607,728
       Deferred income                                   323,699       241,797

           TOTAL CURRENT LIABILITIES                   1,237,231       874,917

       Long-term liabilities to Banks and Others         132,437       616,149

                 TOTAL LIABILITIES                   $ 1,369,668   $ 1,491,066

JOINT VENTURER'S INTEREST                                 71,815        24,508

SHAREHOLDER'S EQUITY

       Common Stock, $0.005 pqr value -
         Authorized:  10,000,000 shares
         Issued:  3,869,938 shares                        19,415        19,415
       Convertible Preferred Stock, $1.75 par value
         Authorized:  1,000,000 shares
         Issued:  none
       Additional capital                              3,824,778     3,824,778
       Accumulated deficit                            (2,171,433)   (2,257,563)
       Treasury Stock at Cost - 65,940                   (43,583)      (43,583)

                 NET SHAREHOLDERS EQUITY             $ 1,629,177   $ 1,543,047 

TOTAL LIABILITIES AND EQUITY                         $ 3,070,660   $ 3,058,621 


      The accompanying notes are an integral part of these statements


                       MEDICAL ADVISORY SYSTEMS, INC.

                   CONSOLIDATED STATEMENT OF OPERATIONS

                              (UNAUDITED)


                                          Three Months         Six Months
                                         Ended April 30      Ended April 30
                                          1997     1996       1997     1996

Revenues:

  Maritime Program Services       $ 177,955 $ 191,609  $   352,282 $   378,541 
  Assistance Services               231,720    95,333      512,366     386,116 
  Pharmaceutical Sales              115,473   129,239      193,372     220,209 
  Training Services                  34,438    76,592       82,452     109,010 
  Clinic Program                      2,185     3,620       19,735      36,859 
  Interest Revenue                   11,303       875       21,652      16,727 
           
  Total Revenue                     573,074   597,268    1,181,859   1,147,462 

Cost and Expenses:
  Pharmaceutical Cost of Goods    $  60,240 $  66,400  $    93,013 $   115,618 
  Medical Professional Services      86,120    86,284      161,500     159,484 
  Cost of Clinic Services                55     2,439       13,121      20,554 
  Cost of Training Services           9,975    14,704       15,823      20,651 
  Salaries and Wages                179,565   126,031      387,201     270,389 
  Other selling, general and
     Administrative expenses        206,201   161,087      336,600     298,302 
  Depreciation and Amortization      16,293     9,069       28,046      18,188 
  Interest expense (income) net       6,399   (11,887)      12,700       9,609 

  Total costs and expenses          564,848   454,127    1,048,004     912,795 


Profit (loss) before joint
            venturer's interest       8,226   143,141      133,855     234,667 

Joint venturer's interest            (7,697)  (38,574)     (47,307)    (78,954)

Net Profit                        $     529 $ 104,567  $    86,548 $   155,713 


Earnings per share                   $ 0.00    $ 0.03       $ 0.02      $ 0.04

Outstanding shares used to 
 calculate earnings per share     3,882,873 3,882,873    3,882,873   3,882,873



                       MEDICAL ADVISORY SYSTEMS, INC.

                    CONSOLIDATED STATEMENT OF CASH FLOWS

                                (UNAUDITED)

                                                     Six Months Ended April 30
                                                          1997         1996

Cash flows from operating activities:
  Net earnings from period                           $    86,548   $   155,713 
  Adjustment to reconcile net earnings
    to net cash provided by operating activities:
    Depreciation and amortization                         28,046        18,188 
    Equity interest in joint venture income (losses)      47,307        78,954 
      (Increase) decrease in :
        Accounts Receivable                               88,162      (170,497)
        Inventory - Pharmaceuticals                       (5,437)       (2,492)
        Prepaid expenses and other                       (17,105)       (2,173)
      Increase (decrease) in :
        Accounts payable and accrued expenses           (196,036)       97,102 
        Deferred income                                   81,902       (25,862)

Net cash provided by (used for) operating activities $   113,387   $   148,933 

Cash flows from investing activities:
      Purchase of Invesment Securities     
      Capital Expenditures                              (199,195)      (64,020)

Net cash provided by (used in) investing activities     (199,195)      (64,020)


Cash Flows from financing activities            
      Repayment of loans to banks and related parties     (7,264)      (26,069)


Net cash provided by (used in) financing activities       (7,264)      (26,069)


Net increase (decrease) in cash                          (93,072)       58,844 


Cash at beginning of period                              717,678       402,768 

Cash at end of the period                            $   624,606   $   461,612 


                           MEDICAL ADVISORY SYSTEMS, INC.

                     NOTES OF CONDENSED FINANCIAL STATEMENTS 
                                  (UNAUDITED)

NOTE A - Summary of Accounting Policies
	
The accompanying unaudited condensed financial statements have been prepared
in accordance with the instructions to form 10-QSB, and therefore, do not 
include all information necessary for a fair presentation of financial
position, results of operations and cash flows in conformity with generally
accepted accounting principles.

In the opinion of management, all adjustments (consisting of only normal
recurring accruals) considered necessary for a fair presentation have been
included.  Operating results for the three  month period ended April 30, 1997 
are not necessarily indicative of the results that may be expected for the
year ended October 31, 1997.  The unaudited condensed consolidated financial
statements should be read in conjunction with the consolidated financial
statements and footnotes thereto included in the Company's annual report
on Form 10-KSB for the year ended October 31, 1996.




                       MEDICAL ADVISORY SYSTEMS, INC.

          MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                        AND RESULTS OF OPERATIONS


     Total revenues for the Company were $1,181,859 for the first 
six months of  FY 1997 compared to $1,147,462 for the same period 
in FY 1996, an increase of 3.0%.  Total General and Administrative 
expenses increased from $596,488 for the first six months of FY 
1996 to $764,547 for the same period in 1997.  The company moved 
into its new building at the Corporate headquarters location in 
Owings, MD in February of 1997.  This move and the related 
disruption to the Company's billing process resulted in a billing 
backlog and a corresponding adverse effect on revenues recognized 
for the second quarter of FY 1997. Increased demand for the 
Company's services has required an increase in personnel and related 
resources.  These increases coupled with extraordinary, non-
recurring moving related costs, an increased local demand for skilled 
labor, and the accrual of Joint Venture related expenses previously 
accounted for at year-end has resulted in the increase in General and 
Administrative costs.  

     Growth of the Company's business has resulted in continuing 
gains shareholders' equity.   The Company has sufficient cash on 
hand to meet current operating requirements.   Our discussion and 
analysis of the Company's various programs is as follows:

     The Company had $512,366 in revenues from sales of 
assistance services during the first six months of FY 1997, a 32.6 % 
increase compared to $386,116 reported for the same period in FY 
1996.   The increase is primarily a result of the growth of existing 
contracts held by the Company's subsidiary Assistance Services of 
America (ASA), Inc. Revenues from the sale of assistance services 
are expected to continue to increase during FY 1997.

     Revenues from maritime program services were $352,282 for 
the first six months of  FY 1997 compared to $378,541 for the same 
period in FY 1996, a 6.9% decrease.   This decline is due to 
increased competition in the market place.  Successful marketing 
efforts have recently increased the Company's client base. The 
resulting growth in sales is expected to provide increased revenues in 
the remaining quarters of FY 1997 compared to FY 1996.

     Revenues from pharmaceutical sales were $193,372 for the 
first half of FY 1997 compared to revenues of $220,209 for the same 
period of FY 1996 a decrease of 12.2%.  This decrease in revenues is 
a direct result of increased competition and deep discount programs 
in the market place.  However, strategic purchasing and cost controls 
have resulted in a decrease in gross profits of  only 4.0%.  
Management expects that these controls coupled with the addition of 
an on-line ordering system will result in pharmaceutical gross profits 
exceeding FY 1996 levels by the end of  FY 1997.

     The Company's training programs provided revenues of 
$82,452 for the first half of FY 1997, compared to training revenues 
of  $109,010 and $88,923 in the first half of  FY 1996 and 1995 
respectively.  The two year fluctuation in revenues is primarily due to 
the bi-annual training schedule of a major client.  

     Clinic services revenues were $19,735 for the first six  
months of  FY 1997, in comparison to $36,859 and $15,384 for the 
same periods of 1996 and 1995.  Fiscal year 1996 results included 
revenues accrued in the first quarter of FY 1996 from a large short-
term contract.   Diversification of this program to include the 
coordination and review of employee drug-testing coupled with 
continued marketing of these services has resulted in modest growth 
of sales to core clients.

     At the end of FY 1996 the company took a write-down of 
$62,500 on its $100,000 investment in Wastemasters, Inc..  An 
additional write down of the investment balance of $37,500 may have 
to be taken this fiscal year based on the market performance of 
Wastemasters stock.  Management does not intend to liquidate the 
company's investment in Wastemasters at this time.




                   MEDICAL ADVISORY SYSTEMS, INC.

PART II - OTHER INFORMATION

Item I.  Legal Proceedings

	None.

Item 2.  Changes in Securities

	None.

Item 3.  Defaults from Senior Securities

	None.

Item 4.  Submission of Matters to a Vote of Security Holders

	Not applicable.

Item 5.  Other Information

	None.

Item 6.  Exhibits and Reports on Form 8-K

	(a)  Exhibits.  None
	(b)  Reports on Form 8-K.  None





                      MEDICAL ADVISORY SYSTEMS, INC.

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.


					MEDICAL ADVISORY SYSTEMS, INC.
                                                 (Registrant)



Date: June 16, 1997                          _______________/s/_______________
                                                       Thomas M. Hall, M.D.
                                                       Chief Executive Officer