U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 3 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940 1. Name and Address of Reporting Person* Monkstown LLC (Last) (First) (Middle) 404 Crabapple Springs Court (Street) Woodstock Georgia 30188 (City) (State) (Zip) 2. Date of Event Requiring Statement (Month/Day/Year) 7/17/00 3. I.R.S. Identification Number of Reporting Person, if an entity (voluntary) 4. Issuer Name and Ticker or Trading Symbol Blue Capital Associates, Inc. 5. Relationship of Reporting Person to Issuer (Check all applicable) / / Director /X/ 10% Owner / / Officer (give title below) / / Other (specify below) 6. If Amendment, Date of Original (Month/Day/Year) 7. Individual or Joint/Group Reporting (Check applicable line) /X/ Form filed by One Reporting Person / / Form filed by More than One Reporting Person * If the Form is filed by more than one Reporting Person, see instruction 5(b)(v).

Explanation of Responses: /s/ Ben Giacchino, Managing Member 7/27/00 --------------------------------------- -------------------------- **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).

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