UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
1. Name and Address of Reporting Person
   Kogan, Eric D.
   34 Gramercy Park East
   Apt. 1AR
   New York, NY  10003
   USA
2. Date of Event Requiring Statement (Month/Day/Year)
   June 30, 1999
3. IRS or Social Security Number of Reporting Person (Voluntary)
   
4. Issuer Name and Ticker or Trading Symbol
   MCM Capital Group, Inc.
   MCMC
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
   (X) Director  ( ) 10% Owner  ( ) Officer (give title below) ( ) Other
   (specify below)
   Chairman of the Board of Directors
6. If Amendment, Date of Original (Month/Day/Year)
   
7. Individual or Joint/Group Filing (Check Applicable Line)
   (X) Form filed by One Reporting Person
   ( ) Form filed by More than One Reporting Person

<TABLE>
<CAPTION>
___________________________________________________________________________________________________________________________________
 Table I -- Non-Derivative Securities Beneficially Owned                                                                           |
___________________________________________________________________________________________________________________________________|
1. Title of Security                       |2. Amount of          |3. Ownership    |4. Nature of Indirect                          |
                                           |   Securities         |   Form:        |   Beneficial Ownership                        |
                                           |   Beneficially       |   Direct(D) or |                                               |
                                           |   Owned              |   Indirect(I)  |                                               |
___________________________________________________________________________________________________________________________________|
<S>                                        <C>                    <C>              <C>
Common Stock, $.01 par value               |98,823(1)             |(I)(2)          |By MCM Holding Company LLC                     |
-----------------------------------------------------------------------------------------------------------------------------------|
___________________________________________________________________________________________________________________________________|
<CAPTION>
___________________________________________________________________________________________________________________________________
 Table II -- Derivative Securitites Beneficially Owned                                                                             |
___________________________________________________________________________________________________________________________________|
1.Title of Derivative   |2.Date Exer-       |3.Title and Amount     |         |4. Conver-|5. Owner-    |6. Nature of Indirect      |
  Security              |  cisable and      |  of Underlying        |         |sion or   |ship         |   Beneficial Ownership    |
                        |  Expiration       |  Securities           |         |exercise  |Form of      |                           |
                        |  Date(Month/      |-----------------------|---------|price of  |Deriv-       |                           |
                        |  Day/Year)        |                       |Amount   |deri-     |ative        |                           |
                        | Date    | Expira- |                       |or       |vative    |Security:    |                           |
                        | Exer-   | tion    |         Title         |Number of|Security  |Direct(D) or |                           |
                        | cisable | Date    |                       |Shares   |          |Indirect(I)  |                           |
___________________________________________________________________________________________________________________________________|
<S>                     <C>       <C>       <C>                     <C>       <C>        <C>           <C>
___________________________________________________________________________________________________________________________________|
</TABLE>

Explanation of Responses:
(1) The reporting person owns 5.714% of MCM Holding Company LLC which owns 
1,729,396 shares (35%) of MCM Capital Group, Inc. prior to its initial public 
offering.
(2)  The reporting person disclaims beneficial ownership of these securities, 
and this report shall not be deemed an admission that the reporting person is 
the beneficial owner of such securities for 
purposes of Section 16 or for any other 
purpose.
SIGNATURE OF REPORTING PERSON
Eric D. Kogan
DATE
June 30, 1999