Exhibit 31.2

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

     I, Terrence Riely, 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/ Terrence Riely
                                 ------------------------
                                 Terrence Riely
                                 Acting Chief Financial Officer