FORM 3

U.S. SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities and 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

Name and Address of Reporting Person

Date of Event Re-

Issuer Name and Ticker and Trading Symbol

quiring Statement

Miller

Jane

(Month/Day/Year)

Select Asset Fund III

(Last)

(First)

(Middle)

08/24/00

Relationship of Reporting Person to Issuer:

If Amendment, Date of

IRS or Social Se-

(Check all applicable)

Original

30900 River Crossing

curity Number of

Director

10% Owner

(Month/Day/Year)

(Street)

Reporting Person

Officer

(give

Other (specify

(Voluntary)

title below)

below)

Bingham Farms

48025

(City)

(State)

(ZIP)

Table 1 -- Non-Derivative Securities Beneficially Owned

Title of Security

Amount of Securities

Ownership

Nature of Indirect Beneficial Ownership

(Instr. 4)

Beneficially Owned

Form: Direct

(Instr. 4)

(D) or Indirect

(I) (Instr. 5)

Floating Rate Note

$5,000

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

SELECT ASSET FUND III 3