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UNITED STATES
OMB Number:     3235-0145


SECURITIES AND EXCHANGE COMMISSION
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SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. _____________)*

Homeland Holdings Corporation

(Name of Issuer)


New Common Stock, par value $0.01

(Title of Class of Securities)



43739T104


(CUSIP Number)



Check the following box if a fee is being paid with this
statement
X
 .  (A fee is not required only if the filing

person:  (1) has a previous statement on file reporting
beneficial ownership of more than five percent of the class
of securities described in Item 1; and (2) has filed no
amendment subsequent thereto reporting beneficial ownership
of five percent or less of such class.)  (See Rule 13d-7.)

*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect
to the subject class of securities, and for any subsequent
amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page
shall not be deemed to be "filed" for the purpose of Section
18 of the Securities Exchange Act of 1934 ("Act") or
otherwise subject to the liabilities of that section of the
Act but shall be subject to all other provisions of the Act
(however, see the Notes).




SEC 1745 (2/92)

CUSIP No.
          43739T104
13G
Page
            2
of
            5
Pages


1
NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON


CREDIT SUISSE FIRST BOSTON, INC.
13-2853402




2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*






(a)











(b)
X








3
SEC USE ONLY

4
CITIZENSHIP OR PLACE OF ORGANIZATION


Delaware







NUMBER OF
5
SOLE VOTING POWER
246,460 Shares Common Stock, par value $0.01

SHARES
BENEFICIALLY
OWNED BY
EACH
6
SHARED VOTING POWER
- -0-

REPORTING
PERSON
WITH
7
SOLE DISPOSITIVE POWER
246,460 Shares Common Stock, par value $0.01


8
SHARED DISPOSITIVE POWER
- -0-

9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
246,460 Shares Common Stock, par value $0.01

10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
N/A

11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.1%

12
TYPE OF REPORTING PERSON*
HC


*SEE INSTRUCTION BEFORE FILLING OUT!


Item 1.


(a)
Name of Issuer:
Homeland Holdings Corporation

(b)
Address of Issuer's Principal Executive Offices:
2601 Northwest Expressway, Oil Center-East, Suite 1100,
Oklahoma City, Oklahoma  73112

Item 2.


(a)
Name of Person Filing:
CREDIT SUISSE FIRST BOSTON, INC.

(b)
Address of Principal Business Office:
11 Madison Avenue, New York, NY  10010

(c)
Citizenship:
Delaware

(d)
Title of Class of Securities:
Common Stock, par value $0.01

(e)
CUSIP Number:
682160106

Item 3.
If this statement is filed pursuant to Rule 13d-1(b), or 13d-
2(b), check whether the person filing is a:


(a)

Broker or Dealer registered under Section 15 of the Act





(b)

Bank as defined in Section 3(a)(6) of the Act





(c)

Insurance Company as defined in Section 3(a)(19) of the Act





(d)

Investment Company registered under Section 8 of the
Investment Company Act





(e)

Investment Adviser registered under Section 203 of the
Investment Advisers Act of 1940





(f)

Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement



Income Security Act of 1974 or Endowment Fund; see 240.13d-
1(b)(1)(ii)(F)





(g)
X
Parent Holding Company, in accordance with 240.13d-
1(b)(ii)(G) (Note:  See Item 7)





(h)

Group, in accordance with 240.13d-1(b)(1)(ii)(H)

Item 4.
Ownership*

(a)
Amount Beneficially Owned:
246,460 Shares Common Stock, par value $0.01

(b)
Percent of Class:
5.1%

(c)
Number of shares as to which such person has:


(i)
sole power to vote or to direct the vote:
246,460 Shares Common Stock, par value $0.01


(ii)
shared power to vote or to direct the vote:
- -0-


(iii)
sole power to dispose or to direct the disposition of:
246,460 Shares Common Stock, par value $0.01


(iv)
shared power to dispose or to direct the disposition of:
- -0-

Item 5.
Ownership of Five Percent or Less of a Class

If this statement is being filed to report the fact that as
of the date hereof the reporting person has ceased to be the


beneficial owner of more than five percent of the class of
securities, check the following


 .

Item 6.
Ownership of More than Five Percent on Behalf of Another
Person

Other than as disclosed herein, the reporting person knows
of no other person who has the right to receive or the power
to direct the receipt or the power to direct the receipt of
dividends from, or the proceeds from the sale of, the
securities covered by this Schedule 13G.

Item 7.
Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent
Holding Company*
Credit Suisse First Boston, Inc. has filed this schedule
pursuant to Rule 13d-1(b)(ii)(G) as a parent holding company
and beneficially owns the securities covered by this
schedule indirectly through its wholly-owned subsidiary,
Credit Suisse First Boston Corporation, a broker-dealer
registered under Section 15 of the Securities Exchange Act
of 1934.




Item 8.
Identification and Classification of Members of the Group
N/A




Item 9.
Notice of Dissolution of Group
N/A

Item 10.
Certification

By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were acquired
in the ordinary course of business and were not acquired for
the purpose of and do not have the effect of changing or
influencing the control of the issuer of such securities and
were not acquired in connection with or as a participant in
any transaction having such purposes or effect.




SIGNATURE

After reasonable 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.


                                                  2/13/97

Date

CREDIT SUISSE FIRST BOSTON, INC.



Lori M. Russo
Corporate Secretary

* The ultimate parent company of Credit Suisse First Boston,
Inc. (formerly known as CS First Boston, Inc.) ("CSFBI") is
Credit Suisse Group (formerly known as CS Holding) ("CSG").
CSG, for purposes of federal securities laws, may be deemed
ultimately to control CSFBI.  CSG, its executive officers
and directors and its direct and indirect subsidiaries, in
addition to CSFBI, may beneficially own shares of the issuer
and such shares are not reported in this statement.  CSG
disclaims beneficial ownership of shares beneficially owned
by its direct and indirect subsidiaries, including CSFBI.
Effective as of January 1, 1997, CSG reorganized its
corporate structure.  Pursuant to the reorganization, a
direct Swiss bank subsidiary of CSG, Credit Suisse First
Boston (formerly known as Credit Suisse), became the sole
shareholder of CSFBI.
70360088.CPY1  Page 4 of 5 pages