================================================================================
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                              ____________________



                                    FORM 10-Q

(Mark One)

|X|  Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange
     Act of 1934 for the quarterly period ended March 31, 2003 or

|_|  Transition report pursuant to Section 13 or 15(d) of the Securities
     Exchange Act of 1934 for the transition period from       to       .


                        Commission file number 333-71073
                              ____________________


                              IKON Receivables, LLC
             (Exact name of registrant as specified in its charter)

                  DELAWARE                                        23-2990188

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

1738 Bass Road, P.O. Box 9115, Macon, Georgia                       31208

  (Address of principal executive offices)                        (Zip Code)



       Registrant's telephone number, including area code: (478) 471-2300
                   _________________________________________



             Former name, former address and former fiscal year, if
                        changed since last report: None

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days. Yes |X| No |_|

Indicate  by check mark  whether  the  registrant  is an  accelerated  filer (as
defined in Rule 12b-2 of the Act). Yes |_| No |X|

Registered debt outstanding as of May 13, 2003 was $647,582,957.


The registrant meets the conditions set forth in General  Instruction  (H)(1)(a)
and (b) of Form 10-Q and is therefore filing with the reduced  disclosure format
contemplated thereby.

================================================================================








<PAGE>
<TABLE>
<CAPTION>




                              IKON Receivables, LLC

                                     INDEX*



PART I.    FINANCIAL INFORMATION

<S>          <C>
        Item 1.   Condensed Financial Statements

                  Balance Sheets - March 31, 2003 (unaudited) and September 30, 2002

                  Statements of Income - Three and six months ended March 31, 2003
                  and 2002 (unaudited)

                  Statements of Cash Flows - Six months ended March 31, 2003 and
                  2002 (unaudited)

                  Notes to Condensed Financial Statements (unaudited)

        Item 2.   Management's Discussion and Analysis of Financial Condition and
                  Results of Operations

        Item 4.   Controls and Procedures

PART II.   OTHER INFORMATION

        Item 6.   Exhibits and Reports on Form 8-K


SIGNATURES


</TABLE>


























* All amounts contained in this quarterly report on Form 10-Q are in thousands
unless otherwise noted.

                                       2



<PAGE>







                           FORWARD-LOOKING INFORMATION

This  Report  includes  or  incorporates  by  reference  information  which  may
constitute   forward-looking  statements  within  the  meaning  of  the  federal
securities laws.  Although IKON  Receivables,  LLC (the "Company")  believes the
expectations contained in such forward-looking statements are reasonable, it can
give  no  assurances   that  such   expectations   will  prove   correct.   Such
forward-looking   information  is  based  upon  management's  current  plans  or
expectations  and is subject to a number of risks and  uncertainties  that could
significantly affect current plans, anticipated actions and the future financial
condition and results of IKON Office  Solutions,  Inc. ("IKON") and IOS Capital,
LLC ("IOSC").  These risks and uncertainties,  which apply to the Company,  IOSC
and IKON, include, but are not limited to, risks and uncertainties  relating to:
factors  which may affect the  Company's  ability  to collect  amounts  due from
lessees  in  order  to  make  payments  due in  connection  with  the  Company's
lease-backed  notes  (such as  lessee  defaults  or  factors  impeding  recovery
efforts);  growth  opportunities and increasing  market share;  productivity and
infrastructure   initiatives;   earnings,   revenue,   cash  flow,  margin,  and
cost-savings  projections;  the effect of  competitive  pressures  on  equipment
sales;  expected savings and lower costs from  productivity  and  infrastructure
initiatives;  developing and expanding strategic alliances and partnerships; the
impact of  e-commerce  and  e-procurement  initiatives;  the  implementation  of
e-IKON;  anticipated  growth  rates  in the  digital  and  color  equipment  and
outsourcing  industries;  the  effect of foreign  currency  exchange  risk;  the
reorganization  of IKON's  business  segments  and the  anticipated  benefits of
operational synergies related thereto; and IKON's ability to finance its current
operations and its growth initiatives. As a consequence of these and other risks
and  uncertainties,  current  plans,  anticipated  actions and future  financial
condition  and  results  may  differ  materially  from  those  expressed  in any
forward-looking statements made by or on behalf of the Company, IOSC or IKON.




                                       3
<PAGE>
<TABLE>
<CAPTION>








                                        PART I. FINANCIAL INFORMATION

Item 1.    Condensed Financial Statements


                                                IKON Receivables, LLC
                                                   Balance Sheets



                                                                                      March 31, 2003    September 30,
                                                                                       (unaudited)           2002
------------------------------------------------------------------------------------------------------------------------
<S>                                                                                 <C>               <C>

Assets
Investments in leases:
     Finance lease receivables                                                      $         967,701 $       1,518,632
     Less: Unearned income                                                                  (119,386)         (202,312)
------------------------------------------------------------------------------------------------------------------------
                                                                                              848,315         1,316,320

Cash                                                                                                1                 1
Restricted cash                                                                                79,079            83,084
Accounts receivable                                                                            26,540            39,788
Prepaid expenses and other assets                                                               1,758             2,905
Deferred tax assets                                                                            10,763            15,353
------------------------------------------------------------------------------------------------------------------------
Total Assets                                                                        $         966,456 $       1,457,451
========================================================================================================================

Liabilities and Member's Deficit
Liabilities:
     Accrued expenses                                                               $          28,772 $          41,188
     Lease-backed notes                                                                       690,531         1,054,042
     Deferred income taxes                                                                    339,326           526,528
------------------------------------------------------------------------------------------------------------------------
Total Liabilities                                                                           1,058,629         1,621,758
------------------------------------------------------------------------------------------------------------------------

Commitments and contingencies

Member's deficit:
     Contributed capital                                                                      516,650           467,286
     Retained deficit                                                                       (592,678)         (608,564)
     Accumulated other comprehensive loss                                                    (16,145)          (23,029)
------------------------------------------------------------------------------------------------------------------------
Total Member's Deficit                                                                       (92,173)         (164,307)
------------------------------------------------------------------------------------------------------------------------
Total Liabilities and Member's Deficit                                              $         966,456 $       1,457,451
========================================================================================================================

</TABLE>















See notes to condensed financial statements.



                                       4
<PAGE>
<TABLE>
<CAPTION>




                                                IKON Receivables, LLC
                                                Statements of Income
                                                    (unaudited)

                                                                    Three Months Ended                 Six Months Ended
                                                                        March 31,                         March 31,
-------------------------------------------------------------------------------------------------------------------------------
                                                                     2003             2002             2003               2002
-------------------------------------------------------------------------------------------------------------------------------
<S>                                                          <C>            <C>              <C>              <C>
Revenues
Lease finance income                                         $     22,282   $       52,610   $       56,558   $        109,465
Interest income on restricted cash                                    120              499              371              1,135
-------------------------------------------------------------------------------------------------------------------------------
                                                                   22,402           53,109           56,929            110,600
-------------------------------------------------------------------------------------------------------------------------------

Expenses
Interest                                                           11,097           24,507           27,327             52,899
General and administrative                                          1,255            2,895            3,126              6,130
-------------------------------------------------------------------------------------------------------------------------------
                                                                   12,352           27,402           30,453             59,209
-------------------------------------------------------------------------------------------------------------------------------

Income before taxes on income                                      10,050           25,707           26,476             51,571

Taxes on income                                                     4,020           10,283           10,590             20,628
-------------------------------------------------------------------------------------------------------------------------------

Net income before cumulative effect of a change
       in accounting principle                                      6,030           15,424           15,886             30,943

Cumulative effect of a change in accounting principle
(Note 6)                                                                                                             (843,752)
-------------------------------------------------------------------------------------------------------------------------------

Net income (loss)                                            $      6,030   $       15,424   $       15,886   $      (812,809)
===============================================================================================================================

</TABLE>




See notes to condensed financial statements.



                                       5
<PAGE>
<TABLE>
<CAPTION>






                                              IKON Receivables, LLC
                                            Statements of Cash Flows
                                                   (unaudited)

                                                                                      Six Months Ended
                                                                                         March 31,
---------------------------------------------------------------------------------------------------------------
                                                                                   2003             2002
---------------------------------------------------------------------------------------------------------------
<S>                                                                          <C>              <C>

Cash Flows from Operating Activities
Net income (loss)                                                            $        15,886  $      (812,809)
Additions (deductions) to reconcile net income to net cash provided
   by operating activities:
     Amortization                                                                      1,218             1,694
     Cumulative effect of a change in accounting principle                                 -           843,752
     Provision for income taxes                                                       10,590            20,628
     Changes in operating assets and liabilities:
         Decrease in accounts receivable                                              13,248            18,302
         Increase in prepaid expenses and other assets                                  (71)              (30)
         Decrease in accrued expenses                                                  (942)           (1,332)
---------------------------------------------------------------------------------------------------------------
         Net cash provided by operating activities                                    39,929            70,205
---------------------------------------------------------------------------------------------------------------

Cash Flows from Investing Activities
     Investments in leases:
         Collections, net of financing income                                        331,615           402,069
---------------------------------------------------------------------------------------------------------------
         Net cash provided by investing activities                                   331,615           402,069
---------------------------------------------------------------------------------------------------------------

Cash Flows from Financing Activities
     Payments on lease-backed notes                                                (363,511)         (376,666)
     Decrease in restricted cash                                                       4,005             7,169
     Capital distributed to IOS Capital, LLC ("IOSC")                               (12,038)         (102,777)
---------------------------------------------------------------------------------------------------------------
        Net cash used in financing activities                                      (371,544)         (472,274)
---------------------------------------------------------------------------------------------------------------

Net increase in cash                                                                       -                 -

---------------------------------------------------------------------------------------------------------------
Cash at beginning of year                                                                  1                 1
---------------------------------------------------------------------------------------------------------------
Cash at end of period                                                        $             1  $              1
===============================================================================================================


Supplemental financing activities:

     Noncash capital contributions                                           $        61,402  $         63,375

     Interest paid                                                           $        28,269  $         53,979




See notes to condensed financial statements.
</TABLE>

                                       6
<PAGE>






                              IKON Receivables, LLC
                     Notes to Condensed Financial Statements
                                   (unaudited)


Note 1: Basis of Presentation
        ---------------------

The accompanying  unaudited condensed financial statements of IKON Receivables,
LLC (the "Company") have been prepared in accordance with accounting  principles
generally  accepted in the United States for interim  financial  information and
the  instructions  to Form 10-Q and Rule 10-01 of Regulation S-X. In the opinion
of management,  all  adjustments  (consisting of normal  recurring  adjustments)
considered  necessary for a fair  presentation  have been included.  For further
information, refer to the financial statements and footnotes thereto included in
the Company's  Annual Report on Form 10-K for the year ended September 30, 2002.
Certain  prior year amounts have been  reclassified  to conform with the current
year presentation.

Note 2: Capital Contributions
        ----------------------

In fiscal  2003,  IOSC made  non-cash  capital  contributions  to the Company of
$61,402 of office  equipment  leases or  contracts  and related  assets,  net of
deferred taxes, and the reversal of current income tax liability.

Note 3: Lease-Backed Notes
        ------------------

The Company repaid  $363,511 of  lease-backed  notes during the six months ended
March 31, 2003.

Note 4: Comprehensive Income (Loss)
        ---------------------------

Total comprehensive income (loss) is as follows:
<TABLE>
<CAPTION>

                                                                    Three Months Ended             Six Months Ended
                                                                         March 31,                    March 31,
                                                                 ----------------------------------------------------------
                                                                    2003          2002           2003            2002
                                                                 ----------------------------------------------------------

<S>                                                               <C>          <C>           <C>            <C>
Net income (loss)                                                 $    6,030   $    15,424   $     15,886   $    (812,809)
Gain on derivative financial instruments, net of tax expense
  of: $2,349 and $4,411 for the three months ended March 31,
  2003 and 2002, respectively; $4,590 and $6,825 for the six
  months ended March 31, 2003 and 2002, respectively                   3,523         6,616          6,884           10,237
                                                                     --------     ---------     ----------     ------------

Total comprehensive income (loss)                                 $    9,553   $    22,040   $     22,770   $     (802,572)
                                                                     ========     =========     ==========     ============
</TABLE>

Note 5: Financial Instruments
        ----------------------

As of March 31, 2003, all of the Company's derivatives  designated as hedges are
interest  rate swaps which qualify for  evaluation  using the "short cut" method
for   assessing   effectiveness.   As  such,   there  is  an  assumption  of  no
ineffectiveness.  The Company uses interest rate swaps to fix the interest rates
on its variable  rate classes of  lease-backed  notes,  which results in a lower
cost of capital  than if we had issued  fixed rate notes.  During the six months
ended March 31,  2003,  unrealized  gains  totaling  $6,884  after  taxes,  were
recorded in accumulated other comprehensive loss.


Note 6: Income Taxes
        --------------

The Company is  classified  as a  single-member  limited  liability  corporation
("LLC") and, as such, is disregarded  as an entity  separate from its owners for
income tax  purposes.  During  fiscal  2002,  the Company  became aware that the
predominant  practice for  single-member  LLCs is to provide for income taxes in
their  separate  financial  statements,  and  concluded  that  this  is  a  more
informative  presentation.  On April 1, 2002, the Company changed its accounting
policy to a preferable  method and began  recording  income taxes in  accordance
with Statement of Financial Accounting Standards No. 109, "Accounting for Income
Taxes" ("SFAS 109"). The Company and IKON Receivables  Funding,  LLC. (the "Sole
Member") are included in the consolidated  tax return of IKON Office  Solutions,
Inc.  ("IKON") and, for purposes of applying SFAS 109, are allocated current and
deferred income taxes on a separate return basis.  Currently  payable/receivable
income taxes are settled in  accordance  with an informal tax sharing  agreement
with IKON and the Sole Member.



                                       7
<PAGE>

The  change in  accounting  for  income  taxes was  retroactively  adopted as of
October 1, 2001,  the first day of the fiscal year of the change.  The  $843,752
cumulative effect of the change on prior years is included in income for the six
months ended March 31, 2002.

The net investments in leases  represents the uncollected  contractual cash flow
of the leases  that were  contributed  to the  Company by the Sole Member in the
form of  contributed  capital.  The tax basis and  related  income tax  benefits
attributable  to the leases are  retained  by the Sole  Member.  Therefore,  the
effect of the change in  principle  resulted  in a  deferred  tax  liability  of
$843,752 at October 1, 2001. The related deferred tax liability is attributed to
the  difference  between  the book and tax basis of the net leases  outstanding.
Because,  under the informal tax-sharing  agreement the Company is not obligated
to reimburse  the Sole Member for current  income  taxes,  all  reversals of the
deferred  tax  liability  to current  income  taxes  payable for the Company are
expected to result in additional  capital  contributions from the Sole Member at
the time of the reversal.


Item 2. Management's  Discussion and Analysis of Financial Condition and Results
of Operations

Pursuant to General  Instruction H(2)(a) of Form 10-Q, the following analysis of
the results of operations is presented in lieu of  Management's  Discussion  and
Analysis of Financial Condition and Results of Operations.


                        Three Months Ended March 31, 2003
                Compared to the Three Months Ended March 31, 2002

Lease  finance  income  earned on the  leases  offsets  interest  expense on the
lease-backed notes,  amortization of debt issuance costs and the fees charged by
IOSC for  servicing  the leases and  providing  administrative  services  to the
Company.  For the three months ended March 31, 2003 and 2002,  income  generated
from the leases was $22,282 and $52,610,  interest income on restricted cash was
$120 and $499,  while interest expense during the period was $11,097 and $24,507
and administrative expenses were $1,255 and $2,895, respectively. Collections on
the lease receivables,  net of financing income,  were $156,422 and $197,273 and
the Company repaid $206,598 and $184,543 of principal on the lease-backed  notes
for the three  months  ended  March 31,  2003 and 2002,  respectively.  Taxes on
income  for the three  months  ended  March 31,  2003 and 2002 were  $4,020  and
$10,283,  respectively.  The effective income tax rate was 40% for both periods.
The changes  described above are directly related to the paydown of the debt and
collections on finance lease receivables from March 31, 2003 to March 31, 2002.


                         Six Months Ended March 31, 2003
                 Compared to the Six Months Ended March 31, 2002

Lease  finance  income  earned on the  leases  offsets  interest  expense on the
lease-backed notes,  amortization of debt issuance costs and the fees charged by
IOSC for  servicing  the leases and  providing  administrative  services  to the
Company. For the six months ended March 31, 2003 and 2002, income generated from
the leases was $56,558 and $109,465, interest income on restricted cash was $371
and $1,135, while interest expense during the period was $27,327 and $52,899 and
administrative expenses were $3,126 and $6,130, respectively. Collections on the
lease receivables,  net of financing income,  were $331,615 and $402,069 and the
Company repaid $363,511 and $376,666 of principal on the lease-backed  notes for
the six months ended March 31, 2003 and 2002, respectively.  Taxes on income for
the six  months  ended  March  31,  2003  and 2002  were  $10,590  and  $20,628,
respectively.  The  effective  income  tax rate was 40% for  both  periods.  The
changes  described  above are  directly  related to the  paydown of the debt and
collections on finance lease receivables from March 31, 2003 to March 31, 2002.


Contractual Obligations

The following summarizes the Company's significant contractual obligations and
commitments as of March 31, 2003:

                                           Payments due by
                             ----------------------------------------------

                                                 March 31,        March 31,
Contractual Obligations            Total              2004             2005
----------------------------------------------------------- ----------------
Lease-backed notes              $690,531          $461,328         $229,203

Payments  on  lease-backed  notes  generally  are made from  collections  of our
finance lease receivables.  At March 31, 2003,  lease-backed notes were $690,531
and net finance lease receivables were $848,315.

Item 4. Controls and Procedures

Evaluation  of  Disclosure  Controls and  Procedures.  The  Company's  Principle
Executive   Officer  and  Principle   Financial   Officer  have   evaluated  the
effectiveness of the Company's  disclosure controls and procedures (as such term
is defined in Rules  13a-14(c)  and  15d-14(c)  under the Exchange Act) as of an
evaluation date within 90 days prior to the filing date of this Quarterly Report
on Form 10-Q.  Based on this  evaluation,  they have  concluded  that, as of the
evaluation date, the Company's disclosure controls and procedures are reasonably
designed to alert them on a timely basis to material information relating to the
Company (including its consolidated subsidiaries) required to be included in its
reports filed or submitted under the Exchange Act.

Changes in Internal Controls. Since the evaluation date referred to above, there
have not been any significant  changes in the Company's  internal controls or in
other factors that could significantly affect such controls.



                                       8
<PAGE>





                           PART II. OTHER INFORMATION


Item 6.    Exhibits and Reports on Form 8-K

     a)  Exhibits

     Exhibit  99.1 Certification Pursuant to 18 U.S.C. Section 1850, as
                   Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of
                   2002.

     b) Reports on Form 8-K

     None


                                   SIGNATURES


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. This report has also been signed by the
undersigned in his capacity as the chief accounting officer of the Registrant.


IKON Receivables, LLC
Date:      May 15, 2003

By:  /s/ Harry G. Kozee
----------------------------------
Name:   Harry G. Kozee
Title:  Vice President - Finance (Principal Financial Officer)





                                       9
<PAGE>

                                 CERTIFICATIONS

I,  Russell  S.  Slack,  President  and  Principle  Executive  Officer  of  IKON
Receivables, LLC certify that:

1.       I have reviewed this quarterly report on Form 10-Q of IKON Receivables,
         LLC;

2.       Based on my  knowledge,  this  quarterly  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 quarterly report;

3.       Based on my knowledge,  the financial  statements,  and other financial
         information  contained in this quarterly 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 quarterly report;

4.       The registrant's  other  certifying  officers and I are responsible for
         establishing  and  maintaining  disclosure  controls and procedures (as
         defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and
         have:

          a)   designed such  disclosure  controls and procedures 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
               quarterly report is being prepared;

          b)   evaluated  the  effectiveness  of  the  registrant's   disclosure
               controls and  procedures as of a date within 90 days prior to the
               filing of this quarterly report (the "Evaluation Date"); and

          c)   presented  in this  quarterly  report our  conclusions  about the
               effectiveness of the disclosure  controls and procedures based on
               our evaluation as of the Evaluation Date;

5.       The registrant's other certifying officers and I have disclosed,  based
         on our most recent  evaluation,  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  in the  design  or  operation  of
               internal  controls which could adversely  affect the registrant's
               ability to record,  process,  summarize and report financial data
               and have  identified for the  registrant's  auditors any material
               weaknesses in internal controls; 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; and

6.       The registrant's other certifying officers and I have indicated in this
         quarterly  report  whether there were  significant  changes in internal
         controls or in other factors that could  significantly  affect internal
         controls  subsequent  to  the  date  of  our  most  recent  evaluation,
         including   any   corrective   actions   with  regard  to   significant
         deficiencies and material weaknesses.


Date:    May 15, 2003

/s/  Russell S. Slack
-----------------------
Russell S. Slack
President and Principle Executive Officer


                                       10
<PAGE>


I, Harry G. Kozee, Vice President - Finance,  Principal  Financial Officer,  and
Principal Accounting Officer of IKON Receivables, LLC certify that:

1.       I have reviewed this quarterly report on Form 10-Q of IKON Receivables,
         LLC;

2.       Based on my  knowledge,  this  quarterly  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 quarterly report;

3.       Based on my knowledge,  the financial  statements,  and other financial
         information  contained in this quarterly 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 quarterly report;

4.       The registrant's  other  certifying  officers and I are responsible for
         establishing  and  maintaining  disclosure  controls and procedures (as
         defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and
         have:

          a.   designed such  disclosure  controls and procedures 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
               quarterly report is being prepared;

          b.   evaluated  the  effectiveness  of  the  registrant's   disclosure
               controls and  procedures as of a date within 90 days prior to the
               filing of this quarterly report (the "Evaluation Date"); and

          c.   presented  in this  quarterly  report our  conclusions  about the
               effectiveness of the disclosure  controls and procedures based on
               our evaluation as of the Evaluation Date;

5.       The registrant's other certifying officers and I have disclosed,  based
         on our most recent  evaluation,  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  in the  design  or  operation  of
               internal  controls which could adversely  affect the registrant's
               ability to record,  process,  summarize and report financial data
               and have  identified for the  registrant's  auditors any material
               weaknesses in internal controls; 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; and

6.       The registrant's other certifying officers and I have indicated in this
         quarterly  report  whether there were  significant  changes in internal
         controls or in other factors that could  significantly  affect internal
         controls  subsequent  to  the  date  of  our  most  recent  evaluation,
         including   any   corrective   actions   with  regard  to   significant
         deficiencies and material weaknesses.


Date:    May 15, 2003

/s/  Harry G. Kozee
---------------------
Harry G. Kozee
Vice President - Finance, Principle Financial Officer, and
Principle Accounting Officer



                                       11