UNITED STATES
                             SECURITIES AND EXCHANGE COMMISSION
                                   WASHINGTON, D.C. 20549



                                          FORM 10-K


  (Mark one)

  /X/ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
      EXCHANGE ACT OF 1934
      For the fiscal year ended December 31, 2003

      OR



  / / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
      EXCHANGE ACT OF 1934


      Commission File Number: 333-104283-01


        Morgan Stanley Capital I Inc.,

     (Exact name of registrant as specified in its charter)


           Delaware                                   13-3291626
  (State or other jurisdiction of                   (I.R.S. Employer
  incorporation or organization)                    Identification No.)

   1585 Broadway
   New York, NY                                 10036
  (Address of principal executive offices)     (Zip Code)


  Registrant's telephone number, including area code: (212) 761-4000


  Securities registered pursuant to Section 12(b) of the Act:

       NONE.



  Securities registered pursuant to Section 12(g) of the Act:

       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 if disclosure of delinquent filers pursuant to
  Item 405 of Regulation S-K (229.405 of this chapter)is not contained herein,
  and will not be contained, to the best of registrant's knowledge, in
  definitive proxy or information statements incorporated by reference in Part
  III of this Form 10-K or any amendment to this Form 10-K.


  Indicate by check mark whether the registrant is an acceleated filer
  (as defined in the Exchange Act Rule 12b-2).

      Yes ____  No X


  State the aggregate market value of the voting and non-voting common
  equity held by nonaffiliates computed by reference to the price at
  which the common equity was last sold, or the average bid and asked
  price of such common equity, as of the last business day of the
  registrant's most recently completed second fiscal quarter.


         Not applicable.



  Indicate the number of shares outstanding of each of the registrant's
  classes of common stock, as of the latest practicable date.

         Not applicable.



  List hereunder the following documents if incorporated by reference and
  the Part of the Form 10-K (e.g. Part I, Part II, etc.) into which the
  document is incorporated: (1)Any annual report to security holders; (2)
  Any proxy or information statement; and (3)Any prospectus filed pursuant
  to Rule 424(b) or (c) under the Securities Act of 1933. The listed
  documents should be clearly described for identification purposes (e.g.
  annual report to security holders for fiscal year ended December 24, 1980).

         Not applicable.




                                   PART I

  Item 1.  Business.

            Not applicable.

  Item 2.  Properties.

            See Item 15(a), Exhibits 99.1, 99.2, and 99.3, for information
            provided in lieu of information required by Item 102 of
            Regulation S-K.



  Item 3.  Legal Proceedings.

            The registrant knows of no material pending legal proceedings
            involving the trust created under the Pooling and Servicing
            Agreement (the Trust), the Trustee, the Servicer or the
            registrant with respect to the Trust other than routine
            litigation incidental to the duties of the respective parties.





  Item 4.  Submission of Matters to a Vote of Security Holders.


            None.

                                PART II


  Item 5.  Market for Registrant's Common Equity and Related Stockholder
           Matters.


            No established public trading market for the Certificates exists.

            Records provided to the Trust by the DTC and the Trustee
            indicate that as of December 31, 2003, the number of holders of
            record for each class of Certificate were as follows:


             Class A-1                           21
             Class A-2                           15
             Class B                              3
             Class C                              5
             Class D                              3
             Class E                              4
             Class EI                             1
             Class F                              4
             Class G                              5
             Class H                              3
             Class J                              3
             Class K                              3
             Class L                              3
             Class M                              3
             Class N                              3
             Class O                              3
             Class R-1                            1
             Class R-2                            1
             Class R-3                            1
             Class X-1                            5
             Class X-2                            7

             Total:                              97


  Item 6.  Selected Financial Data.

            Not applicable.


  Item 7.  Management's Discussion and Analysis of Financial Condition and
           Results of Operation.

            Not applicable.


  Item 7A. Quantitative and Qualitative Disclosures about Market Risk.

            Not applicable.

  Item 8.  Financial Statements and Supplementary Data.

            See Item 15(a), Exhibits 99.1, 99.2, 99.3, for information
            provided in lieu of information required by Item 302 of
            Regulation S-K.




  Item 9.  Changes in and Disagreements with Accountants on Accounting and
           Financial Disclosure.

            None.

  Item 9A. Controls and Procedures.

            Not applicable.


                                PART III


  Item 10. Directors and Executive Officers of the Registrant.

            Not applicable.


  Item 11. Executive Compensation.

            Not applicable.


  Item 12. Security Ownership of Certain Beneficial Owners and Management.

            Not applicable.


  Item 13. Certain Relationships and Related Transactions.

            Not applicable.

  Item 14. Principal Accounting Fees and Services.

            Not applicable.



                         PART IV


  Item 15. Exhibits, Financial Statement Schedules, and Reports on Form 8-K.

   (a) Exhibits

     (31.1) Rule 13a-14(a)/15d-14(a) Certification.

     (99.1) Annual Independent Accountants' Servicing Reports concerning
            servicing activities for the year ended December 31, 2003.

       <TABLE>

       
         <c>
       a) GMAC Commercial Mortgage Corporation, as Master Servicer <F1>
       b) Midland Loan Services, Inc., as Special Servicer <F1>
       c) Wells Fargo Bank, National Association, as Master Servicer
          of the Federal Center Plaza loan <F1>
       d) Wells Fargo Bank, National Association, as Master Servicer
          of the Katy Mills loan <F1>
       e) Wells Fargo Bank, National Association, as Master Servicer
          of the Oakbrook Center loan <F1>

       </TABLE>

     (99.2) Report of Management as to Compliance with Minimum Servicing
            Standards for the year ended December 31, 2003.

       <TABLE>

       
        <c>
       a) GMAC Commercial Mortgage Corporation, as Master Servicer <F1>
       b) Midland Loan Services, Inc., as Special Servicer <F1>
       c) Wells Fargo Bank, National Association, as Master Servicer
          of the Federal Center Plaza loan <F1>
       d) Wells Fargo Bank, National Association, as Master Servicer
          of the Katy Mills loan <F1>
       e) Wells Fargo Bank, National Association, as Master Servicer
          of the Oakbrook Center loan <F1>

       </TABLE>

     (99.3) Annual Statements of Compliance under the Pooling and Servicing
            Agreements for the year ended December 31, 2003.

       <TABLE>

       
         <c>
       a) GMAC Commercial Mortgage Corporation, as Master Servicer <F1>
       b) Midland Loan Services, Inc., as Special Servicer <F1>
       c) Wells Fargo Bank, National Association, as Master Servicer
          of the Federal Center Plaza loan under the Bear Stearns Commercial
          Mortgage Securities Trust 2003-TOP10 <F1>
       d) Wells Fargo Bank, National Association, as Master Servicer
          of the Katy Mills loan under the Morgan Stanley Dean Witter
          Capital I Trust 2003-HQ2 <F1>
       e) Wells Fargo Bank, National Association, as Master Servicer
          of the Oakbrook Center loan under the Morgan Stanley Dean
          Witter Commercial Mortgage Securities Trust 2003-TOP9 <F1>

       </TABLE>


     (99.4) Aggregate Statement of Principal and Interest Distributions to
            Certificate Holders.


       (b)  On October 27, 2003, November 24, 2003, and December 30, 2003
            reports on form 8-K were filed by the Company in order to provide
            statements for the monthly distributions  to holders of the
            Certificates. No other reports on Form 8-K have been filed during
            the last quarter of the period covered by this report

            On March 15, 2004 a Form 8K-A was filed for the December 2003
            distribution.

   (c) Not applicable.


   (d) Omitted.




  <F1> Filed herewith.





                                SIGNATURES


  Pursuant to the requirements of Section 13 or 15(d) 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:



     Morgan Stanley Capital I Inc.,
     (Registrant)



  Signed: Morgan Stanley Capital I Inc. as Depositor


  By:  Craig Phillips as President

  By: /s/ Craig Phillips, President

  Dated: March 26, 2004



  SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO
  SECTION 15(d) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED
  SECURITIES PURSUANT TO SECTION 12 OF THE ACT.


  (a)(i) No annual report is provided to the Certificateholders other than
  with respect to aggregate principal and interest distributions.


  (a)(ii) No proxy statement, form of proxy or other proxy soliciting
  material has been sent to any Certificateholder with respect to any
  annual or other meeting of Certificateholders.

Exhibit Index

  Exhibit No.


31.1    Rule 13a-14(a)/15d-14(a) Certification.

Sarbanes-Oxley Certification

Re:     Morgan Stanley Capital I Inc. Trust 2003 IQ4 (the "Trust"),
Commercial Mortgage Pass Through Certificates, Series 2003 IQ4,
issued pursuant to the Pooling and Servicing Agreement, dated as
of June 1, 2003 (the "Pooling and Servicing Agreement"), among Morgan
Stanley Capital I Inc., as depositor (the "Depositor"), GMAC Commercial
Mortgage Corporation, as master servicer (the "Master Servicer"),
Midland Loan Services, Inc., as special servicer (the "Special Servicer")
and Wells Fargo Bank Minnesota, N.A., as trustee, paying agent and
certificate registrar (the "Trustee").

  I, Craig Phillips, certify that:

  1.    I have reviewed this annual report on Form 10-K ("Annual Report"),
        and all reports on Form 8-K containing distribution reports
        (collectively with this Annual Report, the "Reports") filed in
        respect of periods included in the year covered by this Annual
        Report, of the Trust;

  2.    Based on my knowledge, the information in the Reports, taken as
        a whole, 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 as of the last day of the period covered
        by this Annual Report;

  3.    Based on my knowledge, the distribution or servicing information
        required to be provided to the Trustee by the Master Servicer and
        Special Servicer under the Pooling and Servicing Agreement, for
        inclusion in the Reports is included in these Reports;

  4.    Based on my knowledge and upon the annual compliance statement
        included in this Annual Report and required to be delivered to the
        Trustee in accordance with the terms of the Pooling and Servicing
        Agreement, and except as disclosed in the Reports, the Master
        Servicer and Special Servicer have fulfilled their respective
        obligations under the Pooling and Servicing Agreement; and

  5.    The Reports disclose all significant deficiencies relating to
        the Master Servicer's and Special Servicer's compliance with the
        minimum servicing standards based upon the respective reports
        provided by an independent public accountant, after conducting a
        review in compliance with the Uniform Single Attestation Program
        for Mortgage Bankers or similar procedure, as set forth in the
        Pooling and Servicing Agreement, that is included in the Reports.


In giving the certifications above, I have reasonably relied on information
provided to me by the following unaffiliated parties:  the Trustee, the
Master Servicer, the Special Servicer and the other servicers of the
mortgage loans included in the Trust.


     Date: March 26, 2004

     /s/ Craig Phillips
     Signature

     President
     Title


  Ex-99.1 (a)

Report of Independent Accountants

To the Board of Directors and Shareholder of GMAC Commercial Mortgage
Corporation:

We have examined management's assertion, dated February 23, 2004, about GMAC
Commercial Mortgage Corporation's (the "Company's") compliance with its
established minimum master servicing policy ("Master Servicing Policy"), which
management derived from the Mortgage Bankers Association of America's Uniform
Single Attestation Program for Mortgage Bankers (USAP), as of and for the year
ended December 31, 2003 included in the accompanying management assertion (see
Exhibit I). Management is responsible for the Company's compliance with the
Master Servicing Policy. Our responsibility is to express an opinion on
management's assertion about the Company's compliance based on our examination.

Our examination was made in accordance with the standards established by the
American Institute of Certified Public Accountants and, accordingly, included
examining, on a test basis, evidence about the Company's compliance with the
Master Servicing Policy and performing such other procedures as we considered
necessary in the circumstances. We believe that our examination provides a
reasonable basis for our opinion. Our examination does not provide a legal
determination of the Company's compliance with the Master Servicing Policy.

In our opinion, management's assertion that the Company complied with the
aforementioned Master Servicing Policy as of and for the year ended December 31,
2003 is fairly stated, in all material respects.

/s/ PricewaterhouseCoopers LLP

February 23, 2004




  Ex-99.1 (b)

Deloitte   (logo)

Deloitte & Touche LLP
Suite 400
1010 Grand Boulevard
Kansas City, MO 64106-2232
USA

Tel: +1 816 464 6180
www.deloitte.com


INDEPENDENT ACCOUNTANTS' REPORT

Board of Directors
The PNC Financial Services Group, Inc.

We have examined management's assertion, included in the accompanying report
titled Report of Management, that Midland Loan Services, Inc. (MLS), an indirect
wholly-owned subsidiary of The PNC Financial Services Group, Inc., has complied
with the established minimum servicing standards within its Servicing Policy as
of and for the year ended December 31, 2003, dated February 5, 2004.
Management is responsible for MLS's comp1iance with the Servicing Policy. Our
responsibility is to express an opinion on management's assertion about
MLS's compliance based on our examination.

Our examination was conducted in accordance with attestation standards
established by the American Institute of Certified Public AccountantS and,
according]y, included examining, on a test basis, evidence about MLS's
compliance with the Servicing Policy and performing such other procedures as we
considered necessary in the circumstances. We believe that our examination
provides a reasonable basis for our opinion. Our examination does not provide a
legal determination on MLS's compliance with the Servicing Policy.

In our opinion, management's assertion that MLS complied with the aforementioned
Servicing Policy as of and for the year ended Dccember 31, 2003 is fairly
stated, in all material respects, based on the criteria set forth in Appendix
I.

/s/ Deloitte & Touche

February 5, 2004


Member of
Deloitte Touche Tohmatsu



  Ex-99.1 (c)

KPMG   (logo)

Three Embarcadero Center
San Francisco, CA 94111


Independent Accountants' Report


The Board of Directors
Wells Fargo Bank, N.A.:

We have examined  management's  assertion  about Wells Fargo Commercial
Mortgage Servicing's (a division of Wells Fargo Bank, N.A.) compliance with the
minimum servicing standards set forth in the Mortgage Bankers Association of
America's (MBA's) Uniform Single Attestation Program for Mortgage Bankers
(USAP), except for minimum servicing standards V.4 and VI.I, which the MBA has
interprered as being  inapplicable to the servicing of commercial and  multi-
family loans, as of and for the year ended December 31, 2003 included in
the accompanying  management  assertion.  Management is responsible for Wells
Fargo  Commercial  Mortgage  Servicing's  compliance with those minimum
servicing standards. Our responsibility is to express an opinion on management's
assertion about Wells Fargo Commercial Mortgage Servicing's compliance based on
our examination.

Our examination was made in accordance with standards established by the
American Institute of Certified Pub1ic Accountants and, accordingly,  included
examining, on a test basis, evidence about Wells Fargo Commercial Mortgage
Servicing's compliance with the minimum servicing standards and performing such
other procedures as we considered  necessary in the  circumstances.  We believe
that our examination provides a reasonable basis for our opinion.  Our
examination does not provide a legal determination on Wells Fargo Commercial
Mortgage  Servicing's compliance with the minimum servicing standards.

In our opinion. management's assertion that, except for minimum servicing
standards V.4 and VI.l, which the MBA has interpreted as being inapplicable to
the servicing of commercial and multi-family loans, WeBs Fargo Commercial
Mortgage Servicing has complied in all material respects with the aforementioned
minimum servicing standards as of and for the year ended December 31, 2003 is
fairly stated, in all material respects

/s/ KPMG LLP

February 20, 2004


KPMG LLP, KPMG LLP, a U.S. limited liability partnership,
is a member of KPMG International, a Swiss association.

  Ex-99.1 (d)

KPMG   (logo)

Three Embarcadero Center
San Francisco, CA 94111


Independent Accountants' Report


The Board of Directors
Wells Fargo Bank, N.A.:

We have examined  management's  assertion  about Wells Fargo Commercial
Mortgage Servicing's (a division of Wells Fargo Bank, N.A.) compliance with the
minimum servicing standards set forth in the Mortgage Bankers Association of
America's (MBA's) Uniform Single Attestation Program for Mortgage Bankers
(USAP), except for minimum servicing standards V.4 and VI.I, which the MBA has
interprered as being  inapplicable to the servicing of commercial and  multi-
family loans, as of and for the year ended December 31, 2003 included in
the accompanying  management  assertion.  Management is responsible for Wells
Fargo  Commercial  Mortgage  Servicing's  compliance with those minimum
servicing standards. Our responsibility is to express an opinion on management's
assertion about Wells Fargo Commercial Mortgage Servicing's compliance based on
our examination.

Our examination was made in accordance with standards established by the
American Institute of Certified Pub1ic Accountants and, accordingly,  included
examining, on a test basis, evidence about Wells Fargo Commercial Mortgage
Servicing's compliance with the minimum servicing standards and performing such
other procedures as we considered  necessary in the  circumstances.  We believe
that our examination provides a reasonable basis for our opinion.  Our
examination does not provide a legal determination on Wells Fargo Commercial
Mortgage  Servicing's compliance with the minimum servicing standards.

In our opinion. management's assertion that, except for minimum servicing
standards V.4 and VI.l, which the MBA has interpreted as being inapplicable to
the servicing of commercial and multi-family loans, WeBs Fargo Commercial
Mortgage Servicing has complied in all material respects with the aforementioned
minimum servicing standards as of and for the year ended December 31, 2003 is
fairly stated, in all material respects

/s/ KPMG LLP

February 20, 2004


KPMG LLP, KPMG LLP, a U.S. limited liability partnership,
is a member of KPMG International, a Swiss association.

  Ex-99.1 (e)

KPMG   (logo)

Three Embarcadero Center
San Francisco, CA 94111


Independent Accountants' Report


The Board of Directors
Wells Fargo Bank, N.A.:

We have examined  management's  assertion  about Wells Fargo Commercial
Mortgage Servicing's (a division of Wells Fargo Bank, N.A.) compliance with the
minimum servicing standards set forth in the Mortgage Bankers Association of
America's (MBA's) Uniform Single Attestation Program for Mortgage Bankers
(USAP), except for minimum servicing standards V.4 and VI.I, which the MBA has
interprered as being  inapplicable to the servicing of commercial and  multi-
family loans, as of and for the year ended December 31, 2003 included in
the accompanying  management  assertion.  Management is responsible for Wells
Fargo  Commercial  Mortgage  Servicing's  compliance with those minimum
servicing standards. Our responsibility is to express an opinion on management's
assertion about Wells Fargo Commercial Mortgage Servicing's compliance based on
our examination.

Our examination was made in accordance with standards established by the
American Institute of Certified Pub1ic Accountants and, accordingly,  included
examining, on a test basis, evidence about Wells Fargo Commercial Mortgage
Servicing's compliance with the minimum servicing standards and performing such
other procedures as we considered  necessary in the  circumstances.  We believe
that our examination provides a reasonable basis for our opinion.  Our
examination does not provide a legal determination on Wells Fargo Commercial
Mortgage  Servicing's compliance with the minimum servicing standards.

In our opinion. management's assertion that, except for minimum servicing
standards V.4 and VI.l, which the MBA has interpreted as being inapplicable to
the servicing of commercial and multi-family loans, WeBs Fargo Commercial
Mortgage Servicing has complied in all material respects with the aforementioned
minimum servicing standards as of and for the year ended December 31, 2003 is
fairly stated, in all material respects

/s/ KPMG LLP

February 20, 2004


KPMG LLP, KPMG LLP, a U.S. limited liability partnership,
is a member of KPMG International, a Swiss association.

  Ex-99.2 (a)

Exhibit I

Management's Assertion Concerning Compliance with Minimum Master Servicing
Standards

February 23, 2004

As of and for the year ended December 31, 2003, GMAC Commercial Mortgage
Corporation has complied, in all material respects, with the minimum master
servicing standards set forth in the Company's Master Servicing Policy
(attached in Exhibit III), which were derived from the Mortgage Bankers
Association of America's Uniform Single Attestation Program for Mortgage
Bankers.

As master servicer for the transactions included in Exhibit II, the Company
performs certain functions with respect to loan servicing, however, other
servicing functions are performed by various subservicers.

As of December 31, 2003, the company was covered by various General Motors
Corporation insurance policies providing $125 million of fidelity bond insurance
and $100 million of errors and omissions insurance.

/s/ Robert D. Feller
Robert D. Feller
Chief Executive Officer

/s/ Michael J. Lipeon
Michael J. Lipeon
Executive Vice President, Global Servicing

/s/ Wayne D. Hoch
Wayne D. Hoch
Executive Vice President and
Chief Financial Officer


Exhibit II

GMAC COMMERCIAL MORTGAGE CORPORATION
TRANSACTIONS ASSOCIATED WITH MASTER SERVICING
RESPONSIBILITIES

277 PARK AVE FINANCE CORP
ACMF I SERIES 1997-C1
AETNA, SERIES 1995-C5
AMC DEPOSITOR, SERIES 1999-1
ASC, SERIES 1996-D3
ASC, SERIES 1997-D4
ASC, SERIES 1997-D5
ASW, SERIES 1993-2
ATHERTON, SERIES 1997-1
ATHERTON, SERIES 1998-A
ATHERTON, SERIES 1999-A
BACM, SERIES 2001-C1
BANK OF AMERICA 2002-X1
BKB, SERIES 1997-C1
BSF III LP 6.6 COLLATERALIZED NOTES
Cal West Trust II
CALSTRS, SERIES 2002-C6
CAPCO, SERIES 1998-D7
CBA, SERIES 1993-C1
CBM, SERIES 1996-1
CDC, SERIES 2002-FX1
CERTIFICATES FUND CORP, 1997-1
CHASE, SERIES 1996-1
CHASE, SERIES 1996-2
CHASE, SERIES 1997-1
CHASE, SERIES 1997-2
CHASE, SERIES 1998-1
CHASE, SERIES 1998-2
CHASE, SERIES 2000-FL1
CHASE, SERIES 2001-FL1
CHASE-FIRST UNION, 1999-1
CITIBANK, SERIES 1994-C2
CITICORP LEASE TRUST, SERIES 1999-1
COLUMBIA CTR TRUST, 2000-CCT
COLUMN, SERIES 2002-CCL1
COMM, SERIES 2001-FL5
COMM, SERIES 2001-J2
COMM, SERIES 2003-LNBl


CSFB, SERIES 1995-Ml
CSFB, SERIES 1997-PSl
CSFB, SERIES 1998-PS2
CSFB, SERIES 1999-PS3
CSFB, SERIES 2000-Cl
CSFB, SERIES 2000-PS4
CSFB, SERIES 2001-CF2
CSFB, SERIES 2001-SPG 1
DAIWA, SERIES 1993-1
DEUTSCHE BANC MORTGAGE (184)
DLJ, SERIES 1993-MF17
DLJ, SERIES 1996-CFl
DLJ, SERIES 1997-CFl
DLJ, SERIES 1998-STFl
DLJ-FB, SERIES 1994-MFI
ED I
ED II
EMAC, SERIES 1998-1
EMAC, SERIES 1999-1
EMAC, SERIES 2000-1
FFC FUNDING-SOMERSET MALL
FIRST BOSTON, SERIES 1995-MFI
FMAC, SERIES 1991-A
FMAC, SERIES 1993-B
FMAC, SERIES 1994-A
FMAC, SERIES 1995-B
FMAC, SERIES 1996-B
FMAC, SERIES 1997-A
FMAC, SERIES 1997-B
FMAC, SERIES 1997-C
FMAC, SERIES 1998-A
FMAC, SERIES 1998-B
FMAC, SERIES 1998-C
FMAC, SERIES 1998-D
FMAC, SERIES 2000-A
FMHA
FNMA, SERIES 1998-Ml
FOREST CITY, SERIES 1994-1
FREEHOLD RACEWAY MALL 2001-FRM
G3 STRATEGIC INV. LP 2002 WL1
GAFCO FRANCHISE 1998-1
GFCM 2003-1
GGP MALL PROP TR, SERIES 2001-GGPI
GIA SERIES 2001-A
GMACCM 2003-C2
GMACCM CANADA, SERIES 2002-FLl

GMACCM HFl, SERIES 1999-1
GMACCM HFl, SERIES 1999-2
GMACCM MT1, SERIES 1999-A
GMACCM MTl, SERIES 1999-B
GMACCM Seniors 2003-A
GMACCM, SERIES 1996-Cl
GMACCM, SERIES 1996-C2
GMACCM, SERIES 1997-Cl
GMACCM, SERIES 1997-C2
GMACCM, SERIES 1998-Cl
GMACCM, SERIES 1998-C2
GMACCM, SERIES 1999-Cl
GMACCM, SERIES 1999-C2
GMACCM, SERIES 1999-C3
GMACCM, SERIES 1999-CTLl
GMACCM, SERIES 2000-Cl
GMACCM, SERIES 2000-C2
GMACCM, SERIES 2000-C3
GMACCM, SERIES 2000-FL1
GMACCM, SERIES 2000-FLA
GMACCM, SERIES 2000-FLB
GMACCM, SERIES 2000-FLE
GMACCM, SERIES 2000-FLF
GMACCM, SERIES 200l-A
GMACCM, SERIES 2001-Cl
GMACCM, SERIES 2001-C2
GMACCM, SERIES 2001-FLl
GMACCM, SERIES 2001-FLA
GMACCM, SERIES 2002-Cl
GMACCM, SERIES 2002-C2
GMACCM, SERIES 2002-C3
GMACCM, SERIES 2002-FL1
GMACCM, SERIES 2002-LT
GMACCM, SERIES 2003 DOUBLE EAGLE
GMACCM, Series 2003-C3
GMACCM, SERIES 2003-CCl
GMACCM, Series 2003-FLl
GMACCM, SERIES 2003-FLA
GMACCM, SERIES 2003-FL-SNF
GMACCM, Series 2003-PMSRLP
G-MAX 2002 FL-A
G-MAX 2002-FX-l
GSMCII, Series 2003-Cl
GSMSC II, SERIES 1997-GLI
GSMSC II, SERIES 1998-Cl
GSMSC II, SERIES 1998-GLII

GSMSC II, SERIES 1999-C1
GSMSC II, SERIES 2001-1285
GSMSC II, SERIES 2001-GL3
GSMSC II, SERIES 20O1-ROCK
GSMSC II, SERIES 2002-GSFL V
GSMT II, SERIES 2001-GSFL IV
G-WING, SERIES 2001-WH1
HUD
IPS, SERIES 2003-1
JPMC 2002-C3
JPMC, SERIES 200l-A
JPMC, SERIES 2001-CIBC1
KIDDER PEABODY, SERIES 1994-C3
KS MORTGAGE CAP, SERIES 1995-1
LAKEWOOD MALL
LB COMMERCIAL, SERIES 1994-A
LEHMAN, SERIES 1992-1
LEHMAN, SERIES 1992-2
LEHMAN, SERIES 1994-C2
LEHMAN, SERIES 1995-C2
LEHMAN, SERIES 1996-1
LEHMAN, SERIES 1996-C2
LEHMAN, SERIES 1998-C1
LEHMAN, SERIES 2003-C4
LIBRARY TOWER, SERIES 1998-1
LLL, SERIES 1997- LL1
LONG LANE MASTER TRUST IV
LTC, SERIES 1994-1
LTC, SERIES 1996-1
LTC, SERIES 1998-1
MACERICH, SERIES 1996-C1
MALL OF AMERICA, SERIES 2000-1
MCF, SERIES 1993-C1-C2
MCF, SERIES 1995-MC1
MCF, SERIES 1996-MC1
MCF, SERIES 1996-MC2
MCF, SERIES 1998-MC1
MCF, SERIES 1998-MC3
MERRILL, SERIES 1994-Cl
MERRILL, SERIES 1995-Cl
MERRILL, SERIES 1995-C2
MERRILL, SERIES 1995-C3
MERRILL, SERIES 1996-C1
MERRILL, SERIES 1997-C1
MERRILL, SERIES 1998-C1-CTL
MERRILL, SERIES 1999-C2

MERRILL, SERIES 2000-C3
MERRILL, SERIES 2000-C4
MERRILL, SERIES 2001-C5
MERRILL, SERIES 2001-LBC
MERRILL, SERIES 2002-BC2P
MERRILL, SERIES 2002-C7
MERRILL, SERIES 2002-C8
MERRILL, SERIES 2003-CIO
MERRILL, SERIES 2003-C11
ML, SERIES 2003-C9
MORGAN, SERIES 1996-C1
MORGAN, SERIES 1997-C1
MORGAN, SERIES 1997-XL I
MORGAN, SERIES 1998-CF1
MORGAN, SERIES 1998-HF1
MORGAN, SERIES 1998-HF2
MORGAN, SERIES 1999-RM1
MORGAN, SERIES 2002-HQ
MSDW 2003-IQ4
MSDW CAPTIAL I TRUST 2002-IQ3
MSDW, SERIES 1997-HF1
MSDW, SERIES 1999-FNV1
MSDW, SERIES 2001-PPM
MSDW, SERIES 2002-WM
MSDW, SERIES 2003-IQ
MSDW, Series 2003-IQ5
NATIONS LINK, SERIES 1996-1
NB, SERIES-DMC
NEW ENDLAND MUTUAL LIFE, SERIES 1993-1
NOMURA MEGADEAL, SERIES 1995-MD IV
NOMURA MEGADEAL, SERIES 1996-MD V
NOMURA, SERIES 1993-1
NOMURA, SERIES 1994-MDI
NOMURA, SERIES 1996 MD VI
NOMURA, SERIES 1998-D6
NOMURA, SERIES 1998-STI
OREGAN, SERIES 1995-1
PAINE WEBBER, SERIES 1996-M1
SALOMON, SERIES 1999-Cl
SALOMON, SERIES 2000-C1
SASCO, SERIES 1995-C4
SASCO, SERIES 2001-C8
SC FUNDING, SERIES 1993-1
SDG MACERICH PROPERTIES LP CMO
SL COMMERCIAL, SERIES 1997-C1
SOLAR TRUST, SERIES 2001-1

SOLAR TRUST, SERIES 2002-1
Solar Trust, Series 2003-CCI
Strategic, SHC 2003-1
STRUCTURED MTG, SERIES 1994-Ml
U-HAUL, SERIES 1993-1


Exhibit III

GMAC COMMERCIAL MORTGAGE CORPORATION
MINIMUM MASTER SERVICING POLICY

I. CUSTODIAL BANK ACCOUNTS

   1. Reconciliations shall be prepared on a monthly basis for all custodial
      bank accounts and related bank clearing accounts. These reconciliations
      shall:

      . be mathematically accurate;

      . be prepared within forty-five (45) calendar days after the cutoff date,
        but in any event in accordance with the applicable servicing agreements;

      . be and reviewed and approved by someone other than the person who
        prepared the reconciliation; and

      . evidence explanations for reconciling items which shall be resolved
        within ninety (90) calendar days of identification.

   2. Funds of the servicing entity shall be advanced as specified in the
      applicable servicing agreements in cases where there is potential for an
      overdraft in an investor's account or a request letter has been received
      from a subservicer for a servicing advance stipulated by the subservicing
      agreement.

   3. All cash for each custodial account shall be maintained at a federally
      insured depository institution in trust for the applicable investor or in
      an investment account in accordance with the applicable servicing
      agreement requirements.

II. MORTGAGE PAYMENTS

   1. Mortgage payments shall be deposited into the custodial bank accounts and
      related bank clearing accounts within two business days of receipt from
      the subservicer.

   2. Mortgage payments made in accordance with the mortgagor's loan documents
      shall be posted to the applicable mortgagor records within two business
      days of receipt from the subservicer.

III. DISBURSEMENTS

   1. Remittances made via wire transfer on behalf of a mortgagor or investor
      shall be made only by authorized personnel.

   2. Amounts remitted to investors per the servicer's investor reports shall
      agree with cancelled checks, or other form of payment, or custodial bank
      statements.

IV. INVESTOR ACCOUNTING AND REPORTING

   1.  Monthly investor reports shall be sent in a timely manner listing loan
       level detail of payments and balances, and all other data required by the
       servicing agreements.

V.  INSURANCE POLICIES

   1. A fidelity bond and errors and omissions policy shall be in effect on the
      servicing entity in the amount of coverage represented to investors in
      management's assertion.

VI. MONITORING OF SUBSERVICER COMPLIANCE

   1. Within 120 days of a subservicer's year-end, the subservicer's management
      assertions about compliance with minimum servicing standards, which were
      derived form the Mortgage Bankers Association of America's Uniform Single
      Attestation Program for Mortgage Bankers, and the Independent Auditors
      Report on management's assertions shall be reviewed, and if material
      exceptions are found, appropriate corrective action will be taken.

   2. An annual certification from each subservicer stating that the subservicer
      is in compliance with its subservicer agreement shall be obtained by April
      30th for the previous calendar year.


GMAC Commercial Holding Corporation




  Ex-99.2 (b)


MIDLANDLOANSERVICES   (logo)

Management's Assertion on Compliance with the Servicing Standards
Set Forth in the Servicing Policy for the Year Ended
December 31, 2003

Report of Management

As of and for the year ended December 31, 2003, Midland Loan Services, Inc.
(MLS), an indirect wholy-owned subsidiary of The PNC Financial Services Group,
Inc. (PNC), has complied, in all material respects, with MLS's established
minimum servicing standards in the Servicing Policy for commercial loans and
multifamily servicing as set forth in Appendix I. The minimum servicing
standards are based on the Mortgage Bankers Association of America's Uniform
Singles Attestation Program for Mortgage Bankers, modified to address the unique
characteristics of commercial loans and multifamily servicing. The minimum
servicing standards within the Servicing Policy do not include standards V.4 and
VI.1, which the Mortgage Bankers Association of America has interpreted as
inapplicable to commercial loan and multifamily servicing.


As of and for this same period, PNC was covered by a fidelity bond in the amount
of $200,000,000 and an errors and omissions policy in the amount of $80,000,000.

MIDLAND LOAN SERVICES, INC.

/s/ Douglas D. Danforth
Douglas D. Danforth
CEO/President

/s/ Steven W. Smith
Steven W. Smith
Executive Vice President

/s/ Vincent E. Beckett
Vincent E. Beckett
CFO/Executive Vice President

February 5, 2004


A Member of the PNC Financial Group
10851 Mastin P.O. Box 25965 Shawnee Mission Kansas 66225-5965
www.midlandls.com 913 253 9000 T 913 253 9709 F


APPENDIX I

MINIMUM SERVICING STANDARDS AS SET FORTH IN THE MORTGAGE BANKERS ASSOCIATION
OF AMERICA'S UNIFORM SINGLE ATTESTATION PROGRAM FOR MORTGAGE BANKERS

I. CUSTODIAL BANK ACCOUNTS

1. Reconciliations shall be prepared on a monthly basis for all custodial bank
   accounts and related bank clearing accounts. These reconciliations shall:

   * be mathematically accurate;
   * be prepared within forty-five (45) calendar days after the cutoff date;
   * be reviewed and approved by someone other than the person who prepared the
     reconciliation; and
   * document explanations for reconciling items. These reconciling items shall
     be resolved within ninety (90) calendar days of their original
     identification.

2. Funds of the servicing entity shall be advanced in cases where there is an
   overdraft in an investor's or a mortgagor's account.

3. Each custodial account shall be maintained at a federally insured depository
   institution in trust for the applicable investor.

4. Escrow funds held in trust for a mortgagor shall be retumed to the mortgagor
   within thirty (30) calendar days of payoff of the mortgage loan.

II. MORTGAGE PAYMENTS

1. Mortgage payments shall be desposited into the custodial bank accounts and
   related bank clearing accounts within two business dsays of receipt.

2. Mortgage payments made in accordance with the mortgagor's loan documents
   shall be posted to the applicable mortgagor records within two business days
   of receipt.

3. Mortgage payments shall be allocated to principal, interest, insurance, taxes
   or other escrow items in accordance with the mortgagor's loan documents.

4. Mortgage payments identitied as loan payoffs shall be allocated in accordance
   with the mortgagor's loan documents.

III. DISBURSEMENTS

1. Disbursements made via wire transfer on behalf of a mortgagor or Investor
   shall be made only by authorized personnel.

2. Disbursements made on behalf of a mortgagor or investor shall be postcd
   within two business days to the mortgagor's or investor's records maintained
   by the servicing entity.

3. Tax and insurance payments shall be made on or before the penalty or
   insurance policy expiration dates, as indicated on tax bills and insurance
   premium notices, respectively, provided that such support has been received
   by the servicing entity at least thirty (30) ca1endar days prior to these
   dates.

4. Any late payment penalties paid in conjunction with the payment of any tax
   bill or insurance premium notice shall be paid from the servicing entity's
   funds and not charged to the mortgagor, unless the late payment was due to
   the mortgagor's error or omission.

5. Amounts remitted to investors per the servicer's investor reports shall agree
   with cancelled checks, or other form of payment, or custodial bank
   statements.

6. Unused checks shall be safeguarded so as to prevent unauthorized access.

IV. INVESTOR ACCOUNTING AND REPORTING

1. The servicing entity's investor reports shall agree with, or reconcile to,
   investors' records on a monthly basis as to the total unpaid principal
   balance and number of loans serviced by the servicing entity.

V.  MORTGAGOR LOAN ACCOUNTING

1. The servicing entity's mortgage loan records shall agree with, or reconcile
   to, the records of mortgagors with respect to the unpaid principal balance on
   a monthly basis.

2. Adjustments on ARM loans shall be computed based on the related mortgage note
   and any ARM rider.

3. Escrow accounts shall be analyzed, in accordance with the mortgagor's loan
   documents, on at least an annual basis.

4. Interest on escrow accounts shall be paid, or credited, to mortgagors in
   accordance with the applicable state laws.

VI. DELINQUENCIES

1. Records documenting collection efforts shall be maintained during the period
   a loan is in default and shall be updated at least monthly. Such records
   shall describe the entity's activities in monitoring delinquent loans
   including, for example, phone calls, letters and mortgage payment
   rescheduling plans in cases where the delinquency is deemed temporary (e.g.,
   illness or unemployment).

VII. INSURANCE POLICIES

1. A fidelity bond and errors and omissions policy shall be in effect on the
   servicing entity throughout the reporting period in the amount of
   coverage represented to investors in management's assertion.




  Ex-99.2 (c)

Management Assertion
February 27, 2004

As of and for the year ended December 31,2003, Wells Fargo Commercial
Mortgage Servicing, a division of Wel1s Fargo Bank. N.A., which is a wholly
subsidiary of Wells Fargo & Company, has complied in all material respects with
the minimum servicing standards set forth in the Mortgage Bankers Association of
America's (MBA) Uniform Single Attestation Program for Mortgage Bankers (USAP),
except for minimum servicing standards V.4 and VI.1 , which the MBA has
interpreted as being inapplicable to the servicing of commercial and
multi-family loans. As of and for the year ended December 31, 2003, Wells Fargo
Commercial Mortgage Servicing had in effect a fidelity bond in the amount
of $50,OOO,000 and an error and omissions policy in the amount of $50,000,000.


/s/ Jeannette De La Garza
Jeannette De La Garza
Managing Director
Wells Fargo Commercial Mortgage Servicing


  Ex-99.2 (d)

Management Assertion
February 27, 2004

As of and for the year ended December 31,2003, Wells Fargo Commercial
Mortgage Servicing, a division of Wel1s Fargo Bank. N.A., which is a wholly
subsidiary of Wells Fargo & Company, has complied in all material respects with
the minimum servicing standards set forth in the Mortgage Bankers Association of
America's (MBA) Uniform Single Attestation Program for Mortgage Bankers (USAP),
except for minimum servicing standards V.4 and VI.1 , which the MBA has
interpreted as being inapplicable to the servicing of commercial and
multi-family loans. As of and for the year ended December 31, 2003, Wells Fargo
Commercial Mortgage Servicing had in effect a fidelity bond in the amount
of $50,OOO,000 and an error and omissions policy in the amount of $50,000,000.


/s/ Jeannette De La Garza
Jeannette De La Garza
Managing Director
Wells Fargo Commercial Mortgage Servicing


  Ex-99.2 (e)

Management Assertion
February 27, 2004

As of and for the year ended December 31,2003, Wells Fargo Commercial
Mortgage Servicing, a division of Wel1s Fargo Bank. N.A., which is a wholly
subsidiary of Wells Fargo & Company, has complied in all material respects with
the minimum servicing standards set forth in the Mortgage Bankers Association of
America's (MBA) Uniform Single Attestation Program for Mortgage Bankers (USAP),
except for minimum servicing standards V.4 and VI.1 , which the MBA has
interpreted as being inapplicable to the servicing of commercial and
multi-family loans. As of and for the year ended December 31, 2003, Wells Fargo
Commercial Mortgage Servicing had in effect a fidelity bond in the amount
of $50,OOO,000 and an error and omissions policy in the amount of $50,000,000.


/s/ Jeannette De La Garza
Jeannette De La Garza
Managing Director
Wells Fargo Commercial Mortgage Servicing


  Ex-99.3 (a)

GMAC
Commercial Mortgage   (logo)

Annual Statement as to Compliance
For the Year Ended December 31,2003

Morgan Stanley Dean Witter
Series 2003-IQ4

A. As an authorized officer of GMAC Commercial Mortgage Corp., I certify that
   (I) a review of activities of the Master Servicer for the period ending
   mentioned above, and of its performance under the Subservicing Agreement
   under the signing officer's supervision; and

B. to the best of my knowledge, based on such review, GMAC Commercial Mortgage
   Corp. has fullfilled all of its obligations under the Agreements in all
   material respects throughout the aforementioned period;

GMAC COMMERCIAL MORTGAGE CORPORATION


/s/    Brian T. Stauffer
By:    Brian T. Stauffer
Title: Senior Vice President
Date:  February 20, 2004

  Ex-99.3 (b)

logo) MIDLAND LOAN SERVICES

March 8, 2004

Ms. Jennifer Richardson
Wells Fargo Bank Minnesota, N.A.
Corporate Trust Services
9062 Old Annapolis Road
Columbia, MD
USA         21045-1951

Via UPS
(410) 884-2194

Morgan Stanley Capital I, Inc., Commercial Mortgage Pass-Through Certificates,
Series 2003-IQ4
Pooling and Servicing Agreement

OFFICER'S CERTIFICATE

Pursuant to the requirements of that certain Pooling and Servicing Agreement
governing the referenced Trust (the "PSA"), it is hereby certified that (i) the
undersigned has completed a review of the servicer's performance of its
obligations under the PSA for the preceding calendar year; (ii) to the best of
the undersigned's knowledge on the basis of that review the servicer has
fulfilled all of its obligations under the PSA throughout such period in all
material respects; (iii) to the best of the undersigned's knowledge, the
subservicer, of the servicer under the PSA, if any, has fulfilled its
obligations under its sub-servicing agreement in all material respects; and,
(iv) no notice has been received from any governmental agency or body which
would indicate a challenge or question as to the status of the Trust's
qualification as a REMIC under the U.S. Code.

/s/ Charles J. Sipple
Date 03/08/04
Charles J. Sipple
Executive Vice President

Morgan Stanley Capital I, Inc., Commercial Mortgage Pass-Through Certificates,
Series 2003-IQ4

March 8, 2004

A member of The PNC Financial Services Group

10851 Mastin  Overland Park  Kansas  66210

cc:
    Attn: CMBS Surveillance
    Fitch, Inc.
    One State Street Plaza, 31st Floor
    New York, NY 10004-0000

    Attn: Commercial MBS Monitoring Dept.
    Moody's Investor Services, Inc.
    99 Church Street
    New York, NY 10007-0000


  Ex-99.3 (c)

ANNUAL STATEMENT AS TO COMPLIANCE
OFFICER'S CERTIFICATE

RE: Bear Stearns Commercial Mortgage Securities Inc., Commercial Mortgage
Pass-Through Certificates, Series 2003-TOP10

In accordance with Section 8.12 of the Pooling and Servicing Agreement,
(the "Agreement") dated April 1, 2003 executed by and between Bear Stearns
Commercial Mortgage Securities Inc., (as "Depositor"), Wells Fargo Bank,
National Association, (as "Master Servicer"), ARCap Servicing, Inc., (as
"Special Servicer"), LaSalle Bank National Association, (as "Trustee"), Wells
Fargo Bank Minnesota, National Association, (as "Paying Agent" and "Certificate
Registrar"), and ABN AMRO Bank N.V., (as "Fiscal Agent") as authorized officer
of the Master Servicer I certify that (A) a review of the activities of the
Master Servicer during the preceding calendar year or portion thereof and of the
performance of the Master Servicer under this Agreement has been made under
such officer's supervision and (B) to the best of such officer's knowledge,
based on such review, the Master Servicer has fulfilled all its obligations
under this Agreement in all material respects throughout such year.


/s/ David Huebner
David Huebner
Vice President
Wells Fargo Bank National Association
Commercial Mortgage Servicing




  Ex-99.3 (d)

ANNUAL STATEMENT AS TO COMPLIANCE
OFFICER'S CERTIFICATE

RE: Morgan Stanley Dean Witter Capital I Inc.,
Commercial Mortgage Pass-Through Certificates, Series 2003-HQ2

In accordance with Section 8.12 of the Pooling and Servicing Agreement, (the
"Agreement") dated March 1,2003 executed by and between Morgan Stanley Dean
Witter Capital I Inc., (as "Depositor"), Wells Fargo Bank National Association,
(as "Master Servicer"), LaSalle Bank Nationa1 Association (as "Trustee"), Wells
Fargo Bank Minnesota National Association (as "Paying Agent" and Certificate
Registrar"), and ABN AMRO Bank N.V., (as "Fiscal Agent") as authorized officer
of the Master Servicer I certify that (A) a review of the activities of the
Master Servicer during the preceding calendar year or portion thereof and of the
performance of the Master Servicer under this Agreement has been made under such
officer's supervision and (B) to the best of such officer's knowledge, based on
such review, the Master Servicer has fulfilled all its obligations under this
Agreement in all material respects throughout such year.


/s/ David Huebner
David Huebner
Vice President
Wells Fargo Bank National Association
Commercial Mortgage Servicing


  Ex-99.3 (e)

ANNUAL STATEMENT AS TO COMPLIANCE
OFFICER'S CERTIFICATE

RE: Morgan Stanley Dean Witter Capital I Inc., Commercial Mortgage Pass-Through
Certificates, Series 2003- TOP9

In accordance with Section 8.12 of the Pooling and Servicing Agreement, (the
"Agreement") dated February 1, 2003 executed by and between Morgan Stanley Dean
Witter Capital I Inc., (as "Depositor"), Wells Fargo Bank  National Association,
(as "Master Servicer"), ARCap Servicing, Inc., (as "Special Servicer"), LaSalle
Bank National Association, (as "Trustee"), Wells Fargo Bank Minnesota National
Association, (as "Paying Agent" and "Certificate Registrar") and ABN AMRO Bank
N.V., (as "Fiscal Agent") as authorized officer of the Master Servicer, I
certify that (A) a review of the activities of the Master Servicer during the
preceding calendar year or portion thereof and of the performance of the Master
Servicer under this Agreement has been made under such officer's supervision
and (B) to the best of such officer's knowledge, based on such review, the
Master Servicer bas fulfilled all its obligations under this Agreement in all
material respects throughout such year.

/s/ David Huebner
David Huebner
Vice President
Wells Fargo Bank National Association
Commercial Mortgage Servicing




Ex-99.4
   Schedule of Year-To-Date Principal and Interest Distributions to
   Certificateholders


   <TABLE>

   Class                              Interest             Principal               Losses             Ending Balance
   
                       <c>                    <c>                  <c>                 <c>
   A-1                            2,892,766.42          4,721,451.51                 0.00             174,157,548.49
   A-2                            9,152,005.50                  0.00                 0.00             449,730,000.00
   B                                380,254.62                  0.00                 0.00              18,194,000.00
   C                                504,970.20                  0.00                 0.00              23,652,000.00
   D                                 98,713.32                  0.00                 0.00               4,549,000.00
   E                                171,396.90                  0.00                 0.00               7,278,000.00
   EI                                     0.00                  0.00                 0.00                       0.00
   F                                175,375.68                  0.00                 0.00               7,277,000.00
   G                                224,760.60                  0.00                 0.00               8,188,000.00
   H                                225,142.50                  0.00                 0.00               8,187,000.00
   J                                100,072.50                  0.00                 0.00               3,639,000.00
   K                                 50,022.48                  0.00                 0.00               1,819,000.00
   L                                150,122.52                  0.00                 0.00               5,459,000.00
   M                                 50,022.48                  0.00                 0.00               1,819,000.00
   N                                 50,022.48                  0.00                 0.00               1,819,000.00
   O                                200,161.74                  0.00                 0.00               7,278,609.00
   R-1                                    0.00                  0.00                 0.00                       0.00
   R-2                                    0.00                  0.00                 0.00                       0.00
   R-3                                    0.00                  0.00                 0.00                       0.00
   X-1                              751,395.41                  0.00                 0.00                       0.00
   X-2                            7,023,710.17                  0.00                 0.00                       0.00
   </TABLE>