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

Date of Report(Date of earliest event reported): JULY 31, 1996

                      LEXINGTON GLOBAL ASSET MANAGERS, INC.

State or other jurisdiction of                               (I.R.S. Employer
incorporation or organization                                Identification No.)

DELAWARE                                                     22-3395036

LEXINGTON GLOBAL ASSET MANAGERS, INC.
PARK 80 WEST PLAZA TWO
SADDLE BROOK, NJ 07663

(201) 845-7300






Item 5.  Other Events

On July, 31, 1996,  the registrant  signed an agreement to sell four of its West
Coast subsidiaries  (Lexington Capital Management  Associates,  Inc.,  Lexington
Plan  Administrators,  Inc.,  LCM Financial  Services,  Inc., and LCMI Insurance
Services,  Inc.). The subsidiaries are being sold to a company formed by the CEO
of the subsidiaries and the U.S. unit of London Pacific Group Limited,  Berkeley
(USA) Holdings Limited.

Exhibit No. 20  Other Documents or Statements to Security Holders.

Saddle Brook,  NJ --- July 31, 1996 --- Lexington  Global Asset  Managers,  Inc.
(NASDAQ - LGAM)  announced  today that it has signed a  definitive  agreement to
sell its full service  broker/dealer,  LCM Financial  Services  Inc.,  it's Gold
River,  California registered  investment advisor,  Lexington Capital Management
Associates,    Inc.,   its   plan   administration   company,   Lexington   Plan
Administrators,  and LCMI Insurance  Services.  The four  subsidiaries are being
sold to a company  formed by the CEO of the  subsidiaries  and the U.S.  unit of
London  Pacific  Group  Limited,   Berkeley  (USA)  Holdings  Limited.   In  the
transaction,  LGAM will  receive  $1.1  million in cash and the  purchaser  will
assume $0.2 million in net liabilities of these companies.

According to Robert M. DeMichele,  President and CEO of LGAM,  "The  transaction
allows us to concentrate our efforts on asset management where Lexington Capital
Management  (LCM) is  managing  $336  million  of  assets  for  high  net  worth
individuals,  managed  accounts,  and for wrap programs of major brokerage firms
and financial  consultants.  It represents an outstanding  opportunity to direct
all our efforts on building our asset management business."

As a  result  of this  transaction,  Lexington  Management  Corporation,  LGAM's
registered  investment  advisor  subsidiary located in Saddle Brook, New Jersey,
will own 100% of LCM.  Through an  operating  agreement,  Berkeley  will provide
administrative  services  for LCM's high net worth  accounts,  where assets will
continue to be managed by Lexington.  In addition, LCM will continue to have the
right to  market  the  services  provided  by the  subsidiaries  sold to  London
Pacific,   while  their  personnel  will  continue  to  sell  Lexington's  asset
management capabilities.

For LCM clients,  there is no change in services  provided.  The same investment
manager  making  the  investment  decisions  from the Saddle  Brook,  New Jersey
location prior to the transaction, will continue to do so on their behalf.

Lexington  Global Asset  Managers,  Inc.,  through it's  subsidiaries,  offers a
variety of asset management and related services to retail investors,  financial
advisors, and institutional clients. For more information please contact Richard
M. Hisey of Lexington Global Asset Managers, Inc. at (201) 845-7300.







         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, thereunto duly authorized.

LEXINGTON GLOBAL ASSET MANAGERS, INC.

By:  /s/  Richard M. Hisey
- ------------------------------------------------
RICHARD M. HISEY
EXECUTIVE VICE PRESIDENT, CHIEF FINANCIAL OFFICER AND TREASURER

Date:   8-13-96
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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

Date of Report(Date of earliest event reported): JULY 31, 1996

                      LEXINGTON GLOBAL ASSET MANAGERS, INC.

State or other jurisdiction of                               (I.R.S. Employer
incorporation or organization                                Identification No.)

DELAWARE                                                     22-3395036

LEXINGTON GLOBAL ASSET MANAGERS, INC.
PARK 80 WEST PLAZA TWO
SADDLE BROOK, NJ 07663

(201) 845-7300

Item 5.  Other Events

On July, 31, 1996,  the registrant  signed an agreement to sell four of its West
Coast subsidiaries  (Lexington Capital Management  Associates,  Inc.,  Lexington
Plan  Administrators,  Inc.,  LCM Financial  Services,  Inc., and LCMI Insurance
Services,  Inc.). The subsidiaries are being sold to a company formed by the CEO
of the subsidiaries and the U.S. unit of London Pacific Group Limited,  Berkeley
(USA) Holdings Limited.

Exhibit No. 20  Other Documents or Statements to Security Holders.

Saddle Brook,  NJ --- July 31, 1996 --- Lexington  Global Asset  Managers,  Inc.
(NASDAQ - LGAM)  announced  today that it has signed a  definitive  agreement to
sell its full service  broker/dealer,  LCM Financial  Services  Inc.,  it's Gold
River,  California registered  investment advisor,  Lexington Capital Management
Associates,    Inc.,   its   plan   administration   company,   Lexington   Plan
Administrators,  and LCMI Insurance  Services.  The four  subsidiaries are being
sold to a company  formed by the CEO of the  subsidiaries  and the U.S.  unit of
London  Pacific  Group  Limited,   Berkeley  (USA)  Holdings  Limited.   In  the
transaction,  LGAM will  receive  $1.1  million in cash and the  purchaser  will
assume $0.2 million in net liabilities of these companies.

According to Robert M. DeMichele,  President and CEO of LGAM,  "The  transaction
allows us to concentrate our efforts on asset management where Lexington Capital
Management  (LCM) is  managing  $336  million  of  assets  for  high  net  worth
individuals,  managed  accounts,  and for wrap programs of major brokerage firms
and financial  consultants.  It represents an outstanding  opportunity to direct
all our efforts on building our asset management business."

As a  result  of this  transaction,  Lexington  Management  Corporation,  LGAM's
registered  investment  advisor  subsidiary located in Saddle Brook, New Jersey,
will own 100% of LCM.  Through an  operating  agreement,  Berkeley  will provide
administrative  services  for LCM's high net worth  accounts,  where assets will
continue to be managed by Lexington.  In addition, LCM will continue to have the
right to  market  the  services  provided  by the  subsidiaries  sold to  London
Pacific,   while  their  personnel  will  continue  to  sell  Lexington's  asset
management capabilities.

For LCM clients,  there is no change in services  provided.  The same investment
manager  making  the  investment  decisions  from the Saddle  Brook,  New Jersey
location prior to the transaction, will continue to do so on their behalf.

Lexington  Global Asset  Managers,  Inc.,  through it's  subsidiaries,  offers a
variety of asset management and related services to retail investors,  financial
advisors, and institutional clients. For more information please contact Richard
M. Hisey of Lexington Global Asset Managers, Inc. at (201) 845-7300.

         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, thereunto duly authorized.

LEXINGTON GLOBAL ASSET MANAGERS, INC.

By:  /s/  Richard M. Hisey
- ------------------------------------------------
RICHARD M. HISEY
EXECUTIVE VICE PRESIDENT, CHIEF FINANCIAL OFFICER AND TREASURER

Date:   8-13-96