Sheehan Kevin M – ‘5’ for 12/31/97 re: Avis Group Holdings Inc.

As of:  Friday, 2/13/98   ·   For:  12/31/97   ·   Accession #:  950172-98-127   ·   File #:  1-13315

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Annual Statement of Changes in Beneficial Ownership of Securities by an Insider   —   Form 5   —   SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 5           Annual Statement of Changes in Beneficial              4±    12K 
                Ownership of Securities by an Insider                            


FORM 5                                                                  
         U.S. SECURITIES AND EXCHANGE COMMISSION       _____________________
                  WASHINGTON, D.C.  20549              |    OMB APPROVAL     |
                   ANNUAL STATEMENT OF                 |_____________________|
             CHANGES IN BENEFICIAL OWNERSHIP           |OMB NUMBER: 3235-0362|
                                                       |EXPIRES:             |
                                                       | SEPTEMBER 30, 1998  |
          Filed pursuant to Section 16(a) of the       |ESTIMATED AVERAGE    |
            Securities Exchange Act of 1934,           |BURDEN HOURS         |
           Section 17(a) of the Public Utility         |PER RESPONSE......1.0|
              Holding Company Act of 1935              |_____________________|
or Section 30(f) of the Investment                        
Company Act of 1940                         
  ____________________________________________________________________________
1. Name and Address of Reporting Person                                   

   Sheehan                            Kevin                         M.
       _______________________________________________________________________
   (Last)                      (First)                    (Middle)

900 Old Country Road                                            
       _______________________________________________________________________
  (Street)

 Garden City                   New York                      11530
       _______________________________________________________________________
  (City)                      (State)                      (Zip)

2. Issuer Name and Ticker or Trading Symbol                               

AVI                                                   
  ____________________________________________________________________________
3. IRS or Social Security Number of Reporting Person (Voluntary)          

----                                                  
  ____________________________________________________________________________
4. Statement of Month/Year                                                

February, 1998                                        
  ____________________________________________________________________________
5. If amendment, Date of Original (Month/Year)                            

----                                                  
  ____________________________________________________________________________
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)   
___ Director                               ___ 10% Owner            
  X   Officer (give title below)             ___ Other (specify below)

Executive Vice President and Chief Financial Officer  
____________________________________________________  
  ____________________________________________________________________________
7. Individual or Joint/Group Reporting (check applicable line)            
X   Form Filed by One Reporting Person                        
___  Form Filed by More than one Reporting Person               

  ============================================================================
Table I - Non-Derivative Securities Acquired, Disposed of, or             
Beneficially Owned                                    
  ____________________________________________________________________________
1. Title of Security (Instr. 3)                                           

  ____________________________________________________________________________
2. Transaction Date (Month/Day/Year)                                      

  ____________________________________________________________________________
3. Transaction Code (Instr. 8)                                            

  ____________________________________________________________________________
4.  Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)        

      ________________            _________________          _________________
      Amount                     (A) or (D)                    Price
  ____________________________________________________________________________
5. Amount of Securities Beneficially Owned at end of Issuer's Fiscal Year 
(Instr. 3 and 4)                                                    

  ____________________________________________________________________________
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)                  

  ____________________________________________________________________________
7. Nature of Indirect Beneficial Ownership (Instr. 4)                     

  ____________________________________________________________________________

[TYPE ENTRIES HERE]                                                       

  ============================================================================
TABLE II - Derivative Securities, Acquired, Disposed of, or Beneficially  
    Owned (e.g., puts, calls, warrants, options, convertible
securities)                                         
  ____________________________________________________________________________
1. Title of Derivative Security (Instr. 3)                                

Option to Purchase                                              
  ____________________________________________________________________________
2. Conversion of Exercise Price of Derivative Security                    

$17.00 per share                                                
  ____________________________________________________________________________
3. Transaction Date (Month/Day/Year)                                      

September 23, 1997                                              
  ____________________________________________________________________________
4. Transaction Code (Instr. 8)                                            

A                                                               
  ____________________________________________________________________________
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr.
3, 4 and 5)                                                         

355,500                                     
      __________________                     ___________________
  (A)                                        (D)
  ____________________________________________________________________________
6. Date Exercisable and Expiration Date (Month/Day/Year)                  

See Note 1                                          
 ________________________              _______________________
Date Exercisable                        Expiration Date 
  ____________________________________________________________________________
7. Title and Amount of Underlying Securities (Instr. 3 and 4)             

Common Stock, par value $.01 per share             355,500        
  ________________________________________    __________________________
              Title                           Amount or Number of Shares
  ____________________________________________________________________________
8. Price of Derivative Security (Instr. 4)                                

  ____________________________________________________________________________
9. Number of Derivative Securities Beneficially Owned at End of Year      
(Instr. 4)                                                          

355,500                                     
  ____________________________________________________________________________
 10. Ownership of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

D                                                     
  ____________________________________________________________________________
11. Nature of Indirect Beneficial Ownership (Instr. 4)                    

  ____________________________________________________________________________

[TYPE ENTRIES HERE]                                                       

  ____________________________________________________________________________

EXPLANATION OF RESPONSES:                                           

1    The Options vest in five equal annual installments beginning         
on September 23, 1998.                                          

   /S/ Kevin M. Sheehan                        February 11, 1998
_________________________________               __________________  
**  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     
procedure.                                                            

Potential persons who are to respond to the collection of information 
contained in this form are nor required to respond unless the form    
displays a currently valid OMB number.                                
   =============================================================================

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘5’ Filing		Date		Other Filings
		9/30/98		10-Q
		9/23/98
Filed on:		2/13/98		5,  SC 13G
		2/11/98
For Period end:		12/31/97		10-K405,  5
		9/23/97		3,  4,  4/A
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