8-K

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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549



                                    FORM 8-K



                 CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934



                                 March 27, 1999
                        ---------------------------------
                        (Date of Earliest Event Reported)



                             THRIFT MANAGEMENT, INC.
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)



                                     FLORIDA
                            ------------------------
                            (State of Incorporation)



        333-5190-A                                          65-0309540
   ---------------------                               -------------------
   (Commission File No.)                                (I.R.S. Employer
                                                       Identification No.)



          3141 W. Hallandale Beach Boulevard, Hallandale, Florida 33009
          -------------------------------------------------------------
               (Address of Principal Executive Offices) (Zip Code)



                                 (954) 985-8430
                                 --------------
              (Registrant's telephone number, including area code)


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ITEM 5.  OTHER EVENTS

         The Company completed a private placement of $1,000,000 of its 7%
convertible debentures. The Company's press release with respect to such
offering is attached hereto as Exhibit 1.

ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS.

         (c)      Exhibits.

                  1.       Press Release dated March 27, 2000.











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                                   SIGNATURES



         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

Dated:  March 27, 2000.


                                     THRIFT MANAGEMENT, INC.



                                     By: /s/ Marc Douglas
                                        -------------------------------------
                                        Marc Douglas,
                                        President and Chief Executive Officer

EX-99.1

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                                                                    Exhibit 99.1



FOR IMMEDIATE RELEASE
- ---------------------


THRIFT MANAGEMENT, INC. ANNOUNCES SUCCESSFUL FINANCING


         Hallandale, FL - March 27, 2000 - Thrift Management, Inc. announced
today that it has closed on a $1,000,000 private offering of its 7% Convertible
Debentures.

         The Convertible Debentures bear interest at a rate of 7% per annum and
are convertible at the option of the holder at any time into the company's
common stock at a rate based on the average closing bid price for the company's
common stock. The Convertible Debentures automatically convert after three
years. In addition, the company may redeem the Convertible Debentures upon 20
days' notice to the holder.

         "This financing is a lynchpin in the our strategy to launch our
website, collectiblesandart.com, in the next 90 days," says Marc Douglas, the
company's chairman of the board and chief executive officer. Mr. Douglas said
that a portion of the net proceeds will be used for marketing and promotion of
the website.

         The Convertible Debentures were issued pursuant to an exemption from
the registration provisions of the Securities Act of 1933, and therefore may not
be resold without future registration under the Securities Act or an applicable
exemption therefrom.

         Forward looking statements (statements that are not historical facts)
in this release are made pursuant to the safe harbor provisions of the Private
Litigation Reform Act of 1995. Investors are cautioned that all forward-looking
statements involve risks uncertainties detailed in Thrift Management, Inc.
filings with the U.S. Securities and Exchange Commission.



For more information contact:

Steve Wiley
CFO, Thrift Management, Inc.
(954) 985-8430