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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

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                                    FORM 10-K
                                AMENDMENT NO. 1
                ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2001      Commission file number 0-28024

                            THE FORTRESS GROUP, INC.
             (Exact name of registrant as specified in its charter)

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                   Delaware                                  54-1774997
      (State or other jurisdiction of                   (I.R.S. Employer
       incorporation or organization)                   Identification No.)

1650 Tysons Boulevard, Suite 600, McLean, Virginia             22102
     (Address of principal executive offices)               (Zip Code)

       Registrant's telephone number, including area code: (703) 442-4545

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

                                      NONE

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

                          Common Stock, par value $.01

        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 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 is not contained herein, and will not be contained,
to the best of registrant's knowledge, in definitive proxy or information
statement incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K. [ ]

        Aggregate market value of the voting stock held by non-affiliates of the
registrant as of March 26, 2002 was $8,706,305.

        As of March 26, 2002, 3,119,195 shares of the Registrant's Common Stock,
$.01 par value per share, were outstanding.



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                       Documents Incorporated By Reference

            Certain information required by Items 10, 11, 12 and 13 of Form 10-K
is incorporated by reference into Part III hereof, from the registrant's proxy
statement, which will be filed with the Securities and Exchange Commission
within 120 days after the close of the fiscal year covered by this Form 10-K,
and certain documents are incorporated by reference into Part IV hereof.

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This Amendment No. 1 to Form 10-K is filed solely to correct the contents of
Exhibit 23.2.




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                                   SIGNATURES

   Pursuant to the requirements Section 13 or 15(d) of the Securities Exchange
Act of 1934, the Registrant has duly caused this Amendment No. 1 to be
signed on its behalf by the undersigned, thereunto duly authorized April 1,
2002.

                      THE FORTRESS GROUP, INC.

                                  By:         /s/ George C. Yeonas
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                                  Name:  George C. Yeonas
                                  Title:   Chief Executive Officer and Director



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