-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 WFG5kNvetsxiNyzff2bAdIK/dqSj1HLF5lnNekRbE/DUrMLLYB9tAXd+FQR1f6kH
 0K0ssEHW67ZjyL8zIOKXjA==

<SEC-DOCUMENT>0000912057-96-011127.txt : 19960531
<SEC-HEADER>0000912057-96-011127.hdr.sgml : 19960531
ACCESSION NUMBER:		0000912057-96-011127
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		19960530
EFFECTIVENESS DATE:		19960618
SROS:			NASD

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PENULTIMATE INC
		CENTRAL INDEX KEY:			0000893855
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROGRAMMING SERVICES [7371]
		IRS NUMBER:				330253408
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-04763
		FILM NUMBER:		96574535

	BUSINESS ADDRESS:	
		STREET 1:		19000 MACARTHUR BLVD 620
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92715
		BUSINESS PHONE:		7144766360

	MAIL ADDRESS:	
		STREET 1:		19000 MACARTHUR BLVD
		STREET 2:		STE 620
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92715
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>000091205796011127-001-seq1-s-8.txt
<DESCRIPTION>S-8
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.1
<SEQUENCE>2
<FILENAME>000091205796011127-002-seq2-ex-4-1.txt
<DESCRIPTION>EXHIBIT 4.1 -- FORM OF FEE AGREEMENT
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>000091205796011127-003-seq3-ex-5-1.txt
<DESCRIPTION>EXHIBIT 5.1 -- OPINION OF HORWITZ, CUTLER & BEAM
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>4
<FILENAME>000091205796011127-004-seq4-ex-23-2.txt
<DESCRIPTION>EXHIBIT 23.2 -- CONSENT OF CORBIN & WERTZ
</DOCUMENT>
</SUBMISSION>