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                                                                  EXHIBIT 14
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                            FALCON PRODUCTS, INC.




                                   CODE OF
                              BUSINESS CONDUCT




                                ADOPTED 2003
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Table of Contents

                                                                         Page

      Foreword.............................................................1

1.    Conflicts of Interest................................................2

2.    Inventions and Confidential Information..............................2

3.    Compliance With All Laws.............................................2

4.    Commercial Relationships.............................................3

5.    Relationships With Government Officials..............................3

6.    Political Contributions..............................................3

7.    Proper Recording of Funds and Assets.................................4

8.    Protecting Company Information.......................................4

9.    Reporting of Violations..............................................4

10.   Nonexclusivity.......................................................4

11.   Violations...........................................................4




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                                  FOREWORD

Falcon Products, Inc. and its subsidiaries and affiliates ("Falcon"), will
     at all times conduct its business in an ethical and safe manner and in
     strict compliance with all applicable laws and regulations.
         This Code of Business Conduct defines ethical standards to help
Falcon achieve the objective of maintaining its reputation as a first class
company. It applies to all employees as defined below and any questions
regarding acceptable conduct or interpretation of this Code should be
directed to Cyndy Rosenbloom, Vice President - Human Resources, who is
hereby designated as the Compliance Officer for this Code.
         This Code of Business Conduct is not part of a contract, and no
employee of the Company has any contractual right to the matters set forth
in this Code. The contents of the Code should not be considered a guarantee
of employment. Additionally, the contents of the Code do not alter in any
way your employment status.
         In this Code, the term "employee" or "employees" refers to all
officers, directors and salaried employees. The term "Falcon" and the
"Company" mean Falcon Products, Inc. and its subsidiaries, joint ventures
and affiliates.

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1.       CONFLICTS OF INTEREST

Each employee must avoid all conflicts of interest and appearance of
     impropriety when representing the Company in business dealings or in
     making any recommendation, which could affect the Company. In addition,
     each employee must disclose any actual or apparent conflict of interest
     to his or her supervisor and promptly submit an updated copy of the
     attached "Annual Compliance Statement" to the Compliance Officer.

It is not practical or possible to specify all activities, which may
     create a conflict of interest; however, situations which an employee
     should avoid include:
         o        Owning any interest (other than nominal amounts of stock
                  in publicly-traded companies) in any supplier, customer or
                  competitor;
         o        Consulting with, or being an employee of, any customer,
                  lessor, contractor, supplier or competitor;
         o        Participating in any outside business activities that are
                  competitive with any of the Company's businesses;
         o        Purchasing from, or selling to, the Company goods or
                  services, or having a close relative do the same (unless
                  done through a normal program of disposal of surplus
                  Company property offered generally to all employees);
         o        Participation in outside activities which are so
                  substantial that they interfere with an employee's ability
                  to devote appropriate time and attention to his or her job
                  responsibilities with the Company;
         o        Serving on the board of directors of any customer, lessor,
                  contractor, supplier or competitor;
         o        Disclosing or using any information that is confidential,
                  proprietary or privileged.

2.       INVENTIONS AND CONFIDENTIAL INFORMATION
Inventions means designs, discoveries, improvements and ideas, whether or
     not patentable, including, without limitation, novel or improved
     products, processes, machines, promotional and advertising materials,
     business data processing programs and systems and other manufacturing,
     sales and service techniques and/or processes that either (a) relate to
     (i) the business of the Company or (ii) the Company's actual or
     demonstrably anticipated research or development or (b) result from any
     work performed by Employee for Employer.
Confidential Information means any information related to the Company's
     business not generally known in the trade or industry that employee
     learns or created during the period of employment by the Company, which
     may include but is not limited to designs, product specifications,
     manufacturing procedures, installation and service procedures,
     maintenance programs, methods, equipment, compositions, technology,
     formulas, trade secrets, know-how, usage's and requirements, computer
     programs, software and applications, pricing and nonpublic financial
     information, current and prospective customer lists and other
     confidential technical or business information and data.
Each employee must disclose in writing to the Company and assign to the
     Company, and hereby does assign to the Company, all of employee's
     rights in any inventions conceived or reduced to practice at any time
     during employee's employment by the Company, either solely or jointly
     with others and whether or not developed on employee's own time or with
     the Company's resources. Each employee agrees that inventions first
     reduced to practice within one (1) year after termination of the
     employee's employment by the Company shall be treated as if conceived
     during such employment unless the employee can establish specific
     events giving rise to the conception which occurred after such
     employment. Further, each employee disclaims and will not assert any
     rights in inventions as having been made, conceived or acquired prior
     to employment by the Company except such as are specifically listed at
     the conclusion of this document.
Each employee shall cooperate with the Company and shall execute and deliver
     such documents and do such other acts and things as the Company may
     request, at the Company's expense, to obtain and maintain letters
     patent or registrations covering any inventions and to vest in the
     Company all rights therein free of all encumbrances and adverse claims.
Each employee shall deliver to the Company the original and all copies of
     all documents, records and property of any nature whatsoever that are
     in the employee's possession or control and that are the property of
     the Company or that relate to the business activities, facilities or
     customers of the Company, including any records, documents or property
     created by the employee in said capacity. Each employee agrees to
     attend an exit interview upon termination of employment with the
     Company to ensue that the terms of this agreement are complied with.
In addition to all duties of loyalty imposed on the employee by law, the
     employee shall maintain all Confidential Information of the Company in
     confidence and secrecy and shall not disclose any such Confidential
     Information or use it for the benefit of any person or organization
     (including the employee) other than the Company without the prior
     written consent of the Chief Operating Officer of the Company (except
     for disclosures to persons acting on the Company's behalf with a need
     to know such information), so long as such information is not generally
     known to competitors of the Company or to the general public by means
     other than disclosure by the employee.

3.       COMPLIANCE WITH ALL LAWS
It is the Company's policy to comply in all respects with the laws and
     regulations that apply to its business at all government levels. This
     includes, but is not limited to, the following categories of laws and
     regulations.
         A.  EEO Laws and Affirmative Action Programs. Falcon is
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                  committed to comply with all Equal Employment Opportunity
                  laws which require recruiting, hiring and placing,
                  promoting, training, compensating, transferring and
                  terminating employees based on job-related qualifications
                  and performance without regard to race, color, religion,
                  national origin, sex, age (as defined by law) or
                  disability (unrelated to the performance of essential
                  tasks of the position). Falcon's affirmative action
                  programs enhance this legal protection. Any Falcon
                  employee who has responsibility for

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                  selecting, placing, training, compensating, or promoting
                  employees is required to comply with all Equal Employment
                  Opportunity laws and carrying out the Company's
                  affirmative action policies and obligations.
         B.  Antitrust Laws. Falcon believes that vigorous and fair
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                  competition is in the best interest of its employees, its
                  shareholders and the Company. Antitrust laws were
                  developed and enacted to help preserve the free enterprise
                  system by promoting healthy competition. Falcon will
                  comply in all respects with both the spirit and letter of
                  the antitrust laws. The antitrust laws are a collection of
                  statutes enacted by both the federal government and
                  various states. These laws prohibit business activities
                  which constitute unreasonable restraints of trade, unfair
                  trade practices and other anti-competitive activities.
                  Employees should not participate in any activity which
                  would serve to undermine the competitive nature of the
                  industry or to artificially establish product prices
                  independent of the market. Activities of trade
                  associations also can involve antitrust problems. For
                  example, information concerning current prices and details
                  of transactions between specific buyers and sellers should
                  not be provided to a trade association. Any proposed
                  attendance at a trade association meetings which may
                  result in members disclosing or exchanging sensitive or
                  proprietary information must be approved in advance by the
                  Compliance Officer who may severe restrictions.
         C.  Securities Laws and Insider Trading. (The Company has
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                  adopted a specific policy on this subject which is hereby
                  made a part of this Code.)

4.       COMMERCIAL RELATIONSHIPS
Falcon considers its reputation for fairness and integrity one of its most
     valuable assets. The Company seeks stable and profitable business
     relationships - based on fairness and integrity - with its employees,
     customers, suppliers and all others whose activities are associated
     with it. Employees are expected to use good judgment in all dealings
     with individuals, suppliers or firms which seek to become a supplier of
     goods or services to Falcon. To that end, Falcon's employees must
     conduct their business affairs so that Falcon's integrity will not be
     tarnished if the full details of those dealings become public.
To illustrate the high ethical standards expected of every employee, the
     following conduct is expressly prohibited:
         o        Paying or receiving money, gifts, loans or other favors
                  which may influence business decisions or compromise
                  independent judgment;
         o        Paying or receiving kickbacks for obtaining business for
                  or from Falcon;
         o        Misrepresenting or deceptively omitting material facts
                  relating to the sale of products or billings to customers;
         o        Degrading Falcon's reputation through any other activities
                  which are of similar questionable integrity.
These guidelines are not intended to prevent Falcon from paying normal and
     reasonable commissions to its agents or from taking normal prompt
     payment discounts. They also do not prohibit receiving inexpensive
     gifts or services which are acceptable under normal and customary
     social circumstances so long as the gratuity does not compromise the
     conduct of the recipient. In addition, the guidelines do not prohibit
     normal business entertainment and related expenses which are within
     Company guidelines and are incurred for the benefit of Falcon's
     customers and potential customers.
         If any employee or agent is requested to make or accept a gift or
payment that is prohibited or may appear to be prohibited under this Code,
the request and all the surrounding circumstances should immediately be
disclosed to his or her supervisor. If the appropriateness of any such a
request is uncertain, the Compliance Officer should be consulted for
guidance.

5.       RELATIONSHIPS WITH GOVERNMENT OFFICIALS
It is important to Falcon's business success that it develops and maintains
     relationships with governmental officials based on honesty and
     integrity.
         No actions shall be taken by any Falcon employee which could
undermine proper relationships or tarnish Falcon's reputation for integrity.
         No funds, gifts or assets of Falcon shall be paid directly or
indirectly given to any government official or employee, to any enterprise
owned or controlled by such persons, or to close relatives of such persons.
         The Federal Foreign Corrupt Practices Act of 1977 imposes heavy
penalties for improper payments or promises intended to influence officials
of governments in other countries to misuse his or her official position. If
you have any question concerning payments or promises, directly or
indirectly, to foreign officials, consult the Compliance Officer for advice
before proceeding.

6.       POLITICAL CONTRIBUTIONS
No Falcon funds or assets will be loaned or contributed to any political
     party or organization, or to any individual who holds or is a candidate
     for public office, except when permitted by applicable law and
     pre-authorized by the Company.
         The following are examples of activities which are illegal under
federal law and the laws of those states which prohibit corporate political
contributions:
         o        Contributions by an employee which are reimbursed by
                  Falcon through expense accounts or in other ways;
         o        Purchase by Falcon of tickets for political dinners or
                  fundraising events;
         o        Contributions in kind, such as loaning employees to
                  political parties or providing company airplanes for use
                  in political campaigns;
         o        Indirect contributions by Falcon through suppliers,
                  customers or agents.
         Political contributions by corporations are permitted by the laws
of some states and foreign countries. Such allowable contributions may
include some of the activities mentioned above, but in all cases, they
require prior authorization of the Compliance Officer and, when required by
the law, by the appropriate Board of Directors.

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         This policy is not intended to discourage or prevent an employee
from engaging in political activities as an individual on his or her own
time and at his or her own expense. It also does not prohibit the employee
from making political contributions from personal funds or from expressing
individual views with respect to legislative or political matters.

7.       PROPER RECORDING OF FUNDS AND ASSETS
All Falcon funds, assets, receipts and disbursements shall be properly
     recorded on the Company's books. This includes funds received from the
     sale or disposal of any assets. No unrecorded funds of any kind are to
     be maintained within Falcon. It is the policy of Falcon to comply with
     generally accepted accounting principles in all transactions.
         To assure that this policy is implemented, it is specifically
understood that:
         o        No funds or accounts will be established or maintained for
                  purposes which are not fully and accurately reflected on
                  the books and records of Falcon.
         o        No funds or other assets will be received or disbursed
                  without being fully and accurately reflected on the books
                  and records of Falcon.
         o        No false or fictitious entries will be made on the books
                  or records of Falcon and no false or misleading reports
                  pertaining to Falcon or its operations will be issued.
         Any employee having knowledge of any act or circumstance prohibited
by this policy must immediately report the matter to Falcon's Chief
Financial Officer at St. Louis headquarters.

8.       PROTECTING COMPANY INFORMATION
Information generated in our business is a valuable company asset.
     Protecting this information plays a vital role in our continued growth
     and ability to compete. Typical of such information are business,
     research and new product plans; objectives and strategies; trade
     secrets; unpublished financial or pricing information; processes and
     formulas; computer programs; salary and benefits data; employee medical
     information; employee, customer and supplier lists.
         Employees who have access to proprietary and confidential
information are obligated to safeguard it from unauthorized access and:
         o        Not disclose this information to persons outside Falcon.
                  Exercise caution when discussing company business in
                  public places where conversations can be overheard, like
                  restaurants or on airplanes. Recognize the potential for
                  eavesdropping on cellular telephones.
         o        Not use this information for personal benefit or the
                  benefit of persons outside of Falcon.
         o        Not share this information with other employees except on
                  a legitimate "need to know" basis.
         Any Company information created in the course of our employment
belongs to the Company. Employees leaving the company must return all
proprietary information in their possession. Our obligation to protect
proprietary and confidential information of Falcon continues even after we
leave the Company.

9.       REPORTING OF VIOLATIONS
Falcon's business and reputation depends, in large measure, on strict
     adherence to the provisions of this Code. All employees are encouraged
     and obligated to report any known or suspected Code violations to the
     employee's supervisor and the appropriate Counsel. Unless the report
     relates to the reporting employee, no disciplinary action will be taken
     against an employee making such a report and all information provided
     will be maintained in the strictest confidence. The reporting of a
     violation by an employee that implicates the reporting employee, either
     directly or indirectly, will not protect the reporting employee from
     disciplinary action by the Company, including the possibility of
     dismissal for cause.

10.      NONEXCLUSIVITY
This Code does not constitute a comprehensive, full or complete explanation
     of the laws which are applicable to the Company and its employees, nor
     does it contain all applicable policies and basis for discipline or
     discharge. Each employee has a continuing obligation to be familiar
     with applicable law and all Falcon policies and procedures.

11.      VIOLATIONS
A violation of this Code or a false or misleading answer or response to a
     questionnaire or Annual Compliance Statement can result in disciplinary
     action against the employee, and could lead to discharge. The Company
     may also be obligated to bring known violations of law to the attention
     of appropriate enforcement authorities.

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