Prince George's County Executive Lawrence J. Hogan yesterday filed an amended financial disclosure statement following news accounts that he once had a business arrangement with a developer who is trying to sell land to the county.

The statement, filed in the County Circuit Court, details Hogan's arrangement last year with the firm owned by John W. Lyon, his longtime friend. Hogan is now trying to persuade county and District of Columbia officials to buy Lyon's 80-acre tract beside the Potomac River for a sludge composting site.

Hogan, in an additional statement released by his office, said his law firm, Hogan & Hogan, agreed to represent the Lyon concern, Jack Lyon Associates Inc., last spring, before Hogan entered the race county executive.

He said the firm had "limited capital resources" and he agreed to work full time for the company for a year in exchange for 17.5 percent of the equity in the company.

"No stock in Jack Lyon Associates Inc. or Entech Ltd. (its successor), was owned by Hogan & Hogan, or by me individually" last year, Hogan said.

Hogan said that after he was elected count executive last November, "it became impossible to fulfill the terms of the agreement." In lieu of the stock he was to receive, he said, "Hogan & Hogan expects to be paid for services performed."

Hogan and his wife and law partner, Ilona Hogan, could not be reached yesterday for comment on how much the stock would be worth or how much money the firm would be paid.

His statement said the financial disclosure law did not require his revealing the arrangement, but he would do so "because of ambiguity in the statute and disclosure forms."

The county law on financial disclosure requires a number of officials to list their financial holdings yearly. Alleged violations are reviewed by the ethics board, a panel appointed by the county executive, whose three seats are now vacant.

In his statement yesterday, Hogan said the Lyon firm "does no business with Prince George's County."

The executive has been actively trying to persuade county and District of Columbia officials to buy the 80-acre tract for a sludge-composting facility. The deal, if approved, would bring Lyon a $3 million short-term profit.