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                  SECURITIES AND EXCHANGE COMMISSION
                        WASHINGTON, D.C. 20549
                        ---------------------

                            SCHEDULE 14D-1
         Tender Offer Statement Pursuant to Section 14(d)(1)
                of the Securities Exchange Act of 1934
                          (Amendment No. 4)
                        ---------------------

                    Lotus Development Corporation
                      (Name of Subject Company)

                       White Acquisition Corp.
                               (Bidder)

                Common Stock, Par Value $.01 Per Share
      (Including the Associated Preferred Share Purchase Rights)
                    (Title of Class of Securities)
                              545700106
                (CUSIP Number of Class of Securities)
                        ---------------------

                     Lawrence R. Ricciardi, Esq.
             International Business Machines Corporation
                           Old Orchard Road
                           Armonk, NY 10504
                            (914) 765-1900
     (Name, Address and Telephone Number of Persons Authorized to
       Receive Notices and Communications on Behalf of Bidder)
                        ---------------------

                               Copy to:

                        Allen Finkelson, Esq.
                       Cravath, Swaine & Moore
                           Worldwide Plaza
                          825 Eighth Avenue
                          New York, NY 10019
                            (212) 474-1000

         
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          White Acquisition Corp. hereby amends and supplements its
Tender Offer Statement on Schedule 14D-1 (the "Statement"), originally
filed on June 6, 1995, as amended by Amendments No. 1, 2 and 3, with
respect to its offer to purchase all outstanding shares of Common
Stock, par value $.01 per share, of Lotus Development Corporation, a
Delaware corporation, together with the associated preferred share
purchase rights, as set forth in this Amendment No. 4. Capitalized
terms not defined herein have the meanings assigned thereto in the
Statement.



          Item 11.  Material to be filed as Exhibits.

           (a)(18)  Press Release, dated June 21, 1995.







                              SIGNATURE

          After due inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this
statement is true, complete and correct.

Dated:  June 22, 1995


                                       WHITE ACQUISITION CORP.


                                       By:  /s/ LEE A. DAYTON
                                           -----------------------------   
                                            Name:  Lee A. Dayton
                                            Title: President





                            EXHIBIT INDEX

  Exhibit                                                 Sequentially
    No.             Exhibit                              Numbered Page

 (a)(18)  Press Release, dated June 21, 1995 . . . . . .
















                                                       Exhibit (a)(18)



                              IMMEDIATE




                                                 Contact:  Jon Iwata
                                                           (914) 765-6630


   IBM ANNOUNCES EXPIRATION OF HART-SCOTT-RODINO WAITING PERIOD
                        INVOLVING LOTUS MERGER

          ARMONK, N.Y., June 21, 1995 . . . IBM today announced
that the Hart-Scott-Rodino waiting period relating to IBM's
proposed merger with the Lotus Development Corp. has expired. 
IBM's tender offer for Lotus currently is scheduled to expire on
July 3, 1995.

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