**Exhibit 31**
**CERTIFICATIONS**
I, Patrick L. Beach, certify that:
1. I have reviewed this quarterly report on Form 10-Q of Captec FranchiseCapital Partners L.P. IV;
2. Based on my knowledge, this report does not contain any untrue statementof a material fact or omit to state a material fact necessary to make thestatements made, in light of the circumstances under which such statements weremade, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements, and other financialinformation included in this report, fairly present in all material respectsthe financial condition, results of operations and cash flows of the registrantas of, and for, the periods presented in this report;
4. The registrant’s other certifying officers and I are responsible forestablishing and maintaining disclosure controls and procedures (as defined inExchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financialreporting (as defined in Exchange Act Rules 13(a)-15(f) and 15d-15(f)) for theregistrant, and have:
     (a) Designed such disclosure controls and procedures, or caused suchdisclosure controls and procedures to be designed under our supervision, toensure that material information relating to the registrant, including itsconsolidated subsidiaries, is made known to us by others within those entities,particularly during the period in which this report is being prepared;
     (b) Designed such internal control over financial reporting, or causedsuch internal control over financial reporting to be designed under oursupervision, to provide reasonable assurance regarding the reliability offinancial reporting and the preparation of financial statements for externalpurposes in accordance with generally accepted accounting principles;
     (c) Evaluated the effectiveness of the registrant’s disclosure controlsand procedures and presented in this report our conclusions about theeffectiveness of the disclosure controls and procedures, as of the end of theperiod covered by this report based on such evaluation; and
     (d) Disclosed in this report any change in the registrant’s internalcontrol over financial reporting that occurred during the registrant’s mostrecent fiscal quarter that has materially affected, or is reasonably likely tomaterially affect, the registrant’s internal control over financial reporting;and
5. The registrant’s other certifying officers and I have disclosed, basedon our most recent evaluation of internal control over financial reporting, tothe registrant’s auditors and the audit committee of the registrant’s board ofdirectors (or persons performing the equivalent functions):
     (a) All significant deficiencies and material weaknesses in the design oroperation of internal control over financial reporting which are reasonablylikely 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 otheremployees who have a significant role in the registrant’s internal control overfinancial reporting.
Date: August 12, 2004   By:/s/ Patrick L. Beach Patrick L. Beach President, GP4 Asset Acquisition, LLC 
 

 

The foregoing certification is as required by Section 302(a) of theSarbanes-Oxley Act of 2002 and amended Rules 13a-14 and 15d-14 of theSecurities Exchange Act of 1934, which require that the wordingof such certification must appear exactly as set forth by the Rules. GP4 AssetAcquisition, LLC is a single member limited liability company, the sole memberof which is a limited liability company of which Patrick L. Beach is the soleand managing member. As a result, neither the Partnership or GP4 AssetAcquisition, LLC has a board of directors or audit committee and Patrick L.Beach is only certifying officer and is ultimately responsible for establishingand maintaining the registrant’s disclosure controls