| (i) |                          Designed such disclosure controls and procedures, or caused such                  disclosure controls and procedures to be designed under our supervision,                  to ensure that material information relating to the issuer, including                  its                  consolidated subsidiaries, is made known to us by others within                  those                  entities, particularly during the period in which this annual report                  is                  being prepared. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (ii) |                          Evaluated the effectiveness of the issuer’s disclosure controls and                  procedures as presented in this annual report our conclusions about                  the                  effectiveness of the disclosure controls and procedures, as of                  the end of                  the period covered by this report based on such evaluation;                  and |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (iii) |                          Disclosed in this report any change in the issuer’s internal control over                  financial reporting that occurring during the issuer’s most recent fiscal                  year that has materially affected, or its reasonably likely to                  materially                  affect the issuers internal control over financial reporting;                  and |
|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (i) |                          All significant deficiencies in the design or operation of internal                  controls which could adversely affect the issuer’s ability to record,                  process, summarize and report financial data and have identified                  for the                  issuer’s auditors any material weaknesses in internal controls (none were                  so noted); and |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (ii) |                          Any fraud, whether or not material, that involves management or                  other                  employees who have a significant role in the issuer’s internal controls                  (none were so noted); and |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                           |                                                      |                                      |
|------------------------------------------------|-----------------------------------------------------------|-------------------------------------------|
|                                           | **CALI                  HOLDINGS, INC.**                  |
|                                      |                                                 |                                 |
| Date: September                  26, 2005 | By:                                             | /s/ Donald                  M. Stein |
|                                           | Donald                  M. Stein                          |
|                                           | Chief                  Financial                  Officer |