Exhibit 31.1

           CERTIFICATION PURSUANT  TO SECTION 302
              OF THE SARBANES-OXLEY ACT OF 2002

     I, Douglas G. Gregg, certify that:

     1.   I have reviewed this quarterly report on Form 10-QSB of
          Paramco Financial Group, Inc.;

     2.   Based on my knowledge, this report does not contain any
          untrue statement of a material fact or omit to state a
          material fact necessary to make the statements made, in
          light of the circumstances under which such statements were
          made, not misleading with respect to the period covered by
          this report;

     3.   Based on my knowledge, the financial statements, and
          other financial information included in this report, fairly
          present in all material respects the financial condition,
          results of operations and cash flows of the registrant as
          of, and for, the periods presented in this report;

     4.   The registrant's other certifying officer and I are
          responsible for establishing and maintaining disclosure
          controls and procedures (as defined in Exchange Act Rules
          13a-15(e) and 15d-15(e)) for the registrant and have:

          (a)    Designed such disclosure controls and
             procedures, or caused such disclosure controls
             and procedures to be designed under our
             supervision, to ensure that material
             information relating to the registrant,
             including its consolidated subsidiaries, is
             made known to us by others within those
             entities, particularly during the period in
             which this report is being prepared;

          (b)    Evaluated the effectiveness of the
             registrant's disclosure controls and
             procedures and presented in this report our
             conclusions about the effectiveness of the
             disclosure controls and procedures, as of the
             end of the period covered by this report based
             on such evaluation; and

          (c)    Disclosed in this report any change in the
             registrant's internal control over financial
             reporting that occurred during the
             registrant's most recent fiscal quarter that
             has materially affected, or is reasonably
             likely to materially affect, the registrant's
             internal control over financial reporting; and

     5.   The registrant's other certifying officer and I have
          disclosed, based upon our most recent evaluation of internal
          control over financial reporting, to the registrant's
          auditors and the audit committee of the registrant's board
          of directors (or persons performing the equivalent
          functions):

          (a)    All significant deficiencies and material
             weaknesses in the design or operation of
             internal controls over financial reporting
             which are reasonably likely to adversely
             affect the registrant's ability to record,
             process, summarize and report financial
             information; and

          (b)    Any fraud, whether or not material, that
             involves management or other employees who
             have a significant role in the registrant's
             internal controls.

     Date:  August 19, 2003.


                              By: /s/ Douglas G. Gregg
                                  ---------------------
                                  Douglas G. Gregg
                                  Chairman of the Board
                                  and Chief Executive Officer