[MILLING BENSON WOODWARD L.L.P. LETTERHEAD]



                                   May 9, 2003



Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549

Via Edgar Electronic Filing System

Gentlemen:

         Pursuant to regulations of the Securities and Exchange Commission,
submitted herewith for filing on behalf of Avoca, Incorporated (the "Company")
is the Company's Report on Form 10-QSB for the period ended March 31, 2003.

         This filing is being effected by direct transmission to the
Commission's EDGAR system.

                                                     Sincerely,

                                                     /s/Charles A. Snyder

                                                     Charles A. Snyder

CAS/kj300067

<PAGE>


                UNITED STATES SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                   FORM 10-QSB

(Mark One)

[X]  QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE
                SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2003
                               ---------------

[ ]  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

For the transition period from                        to
                              ------------------------  ------------------------

Commission file number 0-9219
                       ------

                              AVOCA, INCORPORATED
        -----------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

                                    Louisiana
        -----------------------------------------------------------------
         (State or other jurisdiction of incorporation or organization)

                                   72-0590868
        -----------------------------------------------------------------
                      (I.R.S. Employer Identification No.)

         228 St. Charles Avenue, Suite 838, New Orleans, Louisiana 70130
        -----------------------------------------------------------------
                    (Address of principal executive offices)


                                 (504) 552-4720
                           ---------------------------
                           (Issuer's telephone number)

--------------------------------------------------------------------------------
(Former name, former  address  and  former  fiscal  year, if  changed since last
 report)

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Exchange  Act during the past 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
   -------   ------

          APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS
                         DURING THE PRECEDING FIVE YEARS

        Check whether the registrant filed all documents and reports required to
be filed by Section 12, 13 or 15(d) of the Exchange Act  after  the distribution
of securities under a plan confirmed by a court.  Yes     No
                                                     -----  -----

                      APPLICABLE ONLY TO CORPORATE ISSUERS

        State the number of shares outstanding of each of the  issuer's  classes
of common  equity,  as of the latest practicable date:
830,500 shares on May 1, 2003
-----------------------------

Transitional Small Business Disclosure Format (check one);  Yes        No   X
                                                                ------    -----

                                                                    Page 1 of 18
<PAGE>
                               AVOCA, INCORPORATED
                               -------------------

                                    I N D E X
                                    ---------

                                                                        Page No.

Part I.           Financial Information (Unaudited)
                  ---------------------

                  Condensed Balance Sheet - March 31, 2003                    4

                  Condensed Statements of Income
                           Three Months Ended March 31, 2003
                           and 2002                                           5

                  Condensed Statements of Cash Flows
                           Three Months Ended March 31, 2003
                           and 2002                                           6

                  Notes to Condensed Financial Statements                     7

                  Management's Discussion and Analysis or
                  Plan of Operation                                        8-10

                  Controls and Procedures                                    11

Part II.          Other Information

                  Legal Proceedings                                       12-15

                  Submission of Matters to a Vote of
                  Security Holders                                           15

                  Exhibits and Reports on Form 8-K                        15-16

                  Signature                                                  16

                  Certifications                                          17-18


                                                                    Page 2 of 18
<PAGE>



                               AVOCA, INCORPORATED

                         PART I - FINANCIAL INFORMATION

                           Item 1 Financial Statements



                                                                    Page 3 of 18
<PAGE>
<TABLE>
<CAPTION>
                               Avoca, Incorporated

                       Condensed Balance Sheet (Unaudited)

                                 March 31, 2003

Assets
Current assets:
<S>                                                                                                     <C>
     Cash and cash equivalents                                                                          $  949,179
     Short-term investments                                                                                861,921
     Accounts receivable                                                                                   337,208
     Accrued interest receivable                                                                            17,531
     Prepaid expenses                                                                                       27,668
                                                                                                        ----------
Total current assets                                                                                     2,193,507

Property and equipment, less accumulated depreciation and depletion                                         83,434

Other assets:
     Long-term investments                                                                               1,592,856
     Avoca Drainage Bonds, $415,000, in default -- at nominal amount                                             1
                                                                                                        ----------
                                                                                                        $3,869,798
                                                                                                        ==========
Liabilities and shareholders' equity
Current liabilities:

     Accounts payable and accrued expenses                                                              $   22,674
     Income taxes payable                                                                                  254,225
                                                                                                        ----------
Total current liabilities                                                                                  276,899

Deferred income taxes                                                                                       16,239

Shareholders' equity:
     Common stock, no par value -- authorized, issued and outstanding
          830,500 shares                                                                                    94,483
     Retained earnings                                                                                   3,482,177
                                                                                                        ----------
Total shareholders' equity                                                                               3,576,660
                                                                                                        ----------
                                                                                                        $3,869,798
                                                                                                        ==========

See accompanying notes
</TABLE>

                                                                    Page 4 of 18
<PAGE>
                               Avoca, Incorporated

                   Condensed Statements of Income (Unaudited)

                                                    Three months ended
                                                         March 31
                                                   2003             2002
                                               ---------------------------
Revenue:
   Royalties                                   $ 963,348         $ 600,022
   Less severance taxes                           20,939            51,133
                                               ---------         ---------
                                                 942,409           548,889

   Interest income                                15,453            25,209
   Rental & other income                               2             4,745
                                               ---------         ---------
                                                 957,864           578,843

Expenses:
   Legal and accounting services                  36,364            10,866
   Consultant fees                                30,250            32,850
   Geological and engineering fees                 7,120             3,294
   Insurance                                      11,534             9,425
   Miscellaneous expenses                         40,839            30,395
                                               ---------         ---------
                                                 126,107            86,830
                                               ---------         ---------

Income before income taxes                       831,757           492,013

Income taxes                                     256,101           163,437
                                               ---------         ---------

Net income                                     $ 575,656         $ 328,576
                                               =========         =========


Net income per share                              $ 0.69            $ 0.40
                                               =========         =========


See accompanying notes

                                                                    Page 5 of 18
<PAGE>
<TABLE>
<CAPTION>
                               Avoca, Incorporated

                 Condensed Statements of Cash Flows (Unaudited)

                                                                                               Three months ending
                                                                                                    March 31
                                                                                           2003                  2002
                                                                                      ----------------------------------
<S>                                                                                   <C>                   <C>
Operating activities
Net income                                                                            $   575,656           $   328,576
Adjustments to reconcile net income to net cash
  provided by (used in) operating activities:
     Depreciation expense                                                                   2,285                 1,097
     Deferred taxes                                                                          (433)                 (127)
     Changes in operating assets and liabilities:
         Operating assets                                                                (201,397)              104,810
         Operating liabilities                                                            256,903               149,342
                                                                                      -----------           -----------
Net cash provided by operating activities                                                 633,014               583,698

Investing activities

     Purchase of investments                                                           (1,117,856)           (1,556,220)
     Maturity of investments                                                            1,705,084             2,407,780
                                                                                      -----------           -----------
Net cash provided by investing activities                                                 587,228               851,560

Financing activities

Dividends paid                                                                         (1,453,375)           (2,325,400)
                                                                                      -----------           -----------
Net cash used in financing activities                                                  (1,453,375)           (2,325,400)

Decrease in cash and cash equivalents                                                    (233,133)             (890,142)

Cash and cash equivalents at beginning of period                                        1,182,312             1,101,776
                                                                                      -----------           -----------

Cash and cash equivalents at end of period                                            $   949,179           $   211,634
                                                                                      ===========           ===========



See accompanying notes
</TABLE>

                                                                    Page 6 of 18
<PAGE>
                               Avoca, Incorporated

               Notes to Condensed Financial Statements (Unaudited)

                        Three months ended March 31, 2003

1.  Basis of Accounting

         The accompanying  unaudited  condensed  financial  statements have been
prepared in accordance with generally accepted accounting principles for interim
financial  information and with the  instructions of Form 10-QSB and Item 310(b)
of Regulation S-B.  Accordingly,  they do not include all of the information and
footnotes  required by generally  accepted  accounting  principles  for complete
financial  statements.  In the opinion of  management,  all normal and recurring
adjustments and accruals considered  necessary for a fair presentation have been
included.  Operating results for the three-month period ended March 31, 2003 are
not  necessarily  indicative  of the results  that may be expected  for the year
ended  December  31,  2003.  For  further  information,  refer to the  financial
statements and footnotes thereto included in the Company's annual  shareholders'
report  incorporated by reference in the Form 10-KSB for the year ended December
31, 2002.

         The Company considers its United States Government securities held with
a maturity of three months or less when purchased to be cash equivalents.

                                                                    Page 7 of 18
<PAGE>

Item 2 -          Management's Discussion and
                  Analysis or Plan of Operation

         Avoca  Incorporated  is a passive company which owns lands in Louisiana
under  which  hydrocarbons  are  located.  The  hydrocarbons  are  developed  in
accordance  with  the  custom  of the  trade  in the  oil and  gas  industry  in
Louisiana,  which development is conducted with risks and uncertainties  usually
associated with the production and marketing of hydrocarbons.

         The unaudited  condensed  statements of income show that net income for
the first quarter of 2003 as compared  with the first quarter of 2002  increased
from $328,576 to $575,656, or approximately 75%, mostly because of a substantial
increase in royalty income.

         Revenues from royalties net of severance  taxes increased from $548,889
to  $942,409 as a result of a 115%  increase  in the average  sales price of gas
which more than offset  decreases in production  from four of the five principal
wells in which the Company has a royalty interest.

         The Meridian  Resources &  Exploration  L.L.C.  Avoca No. 47-1 well was
responsible  for 58% of the Company's  royalty income net of severance taxes for
the first quarter of 2003, and has been the Company's  largest royalty  producer
since it went on production in December  2000.  Royalties  from the well for the
first  quarter of 2003 as compared to the first quarter of 2002  increased  from
$371,445 to $545,593.  After being on and off production in the third and fourth
quarters of 2002, the well was recompleted in a higher Operc C sand and returned
to production in early  December 2002. The operator has advised the Company that
the well has been off production  since April 12 due to mechanical  difficulties
which the  operator is  currently  attempting  to remedy.  As compared  with the
comparable  period  of  2002,  production  from  the

                                                                    Page 8 of 18
<PAGE>

Avoca No. 47-1 well was  approximately  34% lower for the first  quarter of 2003
whichwas more than offset by the substantial increase in the average sales price
of gas previously discussed.

         Royalties  from  the  Meridian  C. M.  Thibodaux  No.  1 & No.  3 wells
contributed  approximately  22% of the Company's royalty income net of severance
taxes for the first quarter of 2003, increasing from $146,233 to $208,965 due to
the substantial increase in the average sales price of gas previously discussed.
Production  from the C.M.  Thibodaux  No. 3 well  decreased  a modest 4% for the
first  quarter  of 2003 as  compared  to the  first  quarter  of 2002.  The C.M.
Thibodaux No. 1 well has been off production  since mid December 2002 undergoing
treatment  for a scale  buildup in the  tubing.  The  operator  has  advised the
Company  that it plans to  recomplete  the well in the  higher  Operc 3 sand and
return it to production.

         The  Meridian  State  Lease No.  16049 well,  which went on  production
February 2002, was  responsible  for 18% of the Company's net royalty income for
the  first  quarter  of 2003.  The well  produces  from a sand  seen in the C.M.
Thibodaux  No. 1 well and  already  unitized  as the  Operc 5 RA SUA  Unit.  The
Company's  net  revenue  interest in the State  Lease No.  16049 well,  like the
Thibodaux  No. 1 and No. 3 wells is 2.71%  compared  to the 12.41%  net  revenue
interest the Company has in the Avoca No. 47-1 well. All four Meridian wells are
located in the Ramos Field,  across Bayou Chene just north of the eastern end of
Avoca Island.

         Royalty income from the Delta Operating  Corporation (formerly Alliance
Operating Company) Avoca No. 1well, also located in the Ramos Field, was $10,745
for the first  quarter of 2003 as  compared  to $8,145 for the first  quarter of
2002.  The increase in the average  sales price of gas  compensated  for the 41%
decline  experienced  in the well's  production  in which the  Company has a net
revenue interest of 19.46%.

                                                                    Page 9 of 18
<PAGE>

         Interest income from  investments  declined $9,756 or  approximately 4%
because of lower interest rates.

         As compared with the first quarter of 2002,  total  expenses  increased
$39,277 or approximately  45%. Fees for attorney's  services  (included in legal
and  accounting  services)  increased  $24,828  because of  compliance  with new
disclosure  and  certification  requirements  imposed  on  public  companies  by
Congress  and  the  Securities  and  Exchange  Commission  and  attorney's  fees
associated  with  the  litigation   described  under  Item  3  of  this  report.
Miscellaneous  expenses  increased $ 10,444 primarily due to additional  surface
maintenance  costs,  an increase in directors fees due to an additional  meeting
held in 2003 and new investment  management fees.  Insurance  expense  increased
$2,109 primarily because of changes in the Company's  insurance  coverage and an
increase  in  premium  costs.  Increased  need for  geological  and  engineering
services was offset by a decrease in consultant fees.

         The  Company's  continued  liquidity  is  evidenced  by the  fact  that
approximately 77% of its assets, as measured by book value, is comprised of cash
and U.S. Government agency securities, and represents the equivalent of multiple
years of anticipated operating expenses.

         In addition to interest income and the leasing of hunting  rights,  the
Company  customarily  derives  essentially all of its other income from bonuses,
delay  rentals and  royalties  under oil,  gas and  mineral  leases of its Avoca
Island acreage.  The Company's business is passive and all capital  requirements
for exploration,  development and production of the Company's  mineral resources
are funded by its lessees.

                                                                   Page 10 of 18
<PAGE>
Item 3 - Controls and Procedures

         Robert C. Baird, Jr., the Company's  principal  executive and financial
officer,  has evaluated the effectiveness of the Company's  disclosure  controls
and procedures (as defined in Rule 13a-14(c)  under the Securities  Exchange Act
of 1934) as of a date within 90 days of the filing of this report. Based on that
evaluation,  he  has  concluded  that  the  Company's  disclosure  controls  and
procedures are adequate and effective. There have been no significant changes in
the Company's  internal  controls or in other  factors that could  significantly
affect  internal  controls  subsequent  to the  date  Mr.  Baird  completed  his
evaluation.

                                                                   Page 11 of 18
<PAGE>
                           Part II - OTHER INFORMATION

Item 1 - Legal Proceedings

         1.       Avoca,  Incorporated  on December  29,  1999 filed in the 16th
Judicial District Court for the Parish of St. Mary (Docket No. 105195) a lawsuit
to evict a former lessee,  Ernest  Singleton,  from a small parcel of land (less
than 10 acres)  located in the  northeast  part of Avoca  Island.  The parcel is
included in The Meridian  Resource &  Exploration,  Inc.'s 647.504 acre unit for
the C.M.  Thibodaux  Nos. 1 and 3 wells and  represents  no more than 13% of the
Company's acreage in the unit.

         Having answered the Company's  petition,  the defendant and other heirs
of John  Singleton  filed a Notice of Lis  Pendens,  Reconventional  Demand  and
Petition  in  Nullity  claiming  ownership  of the parcel  (and other  lands not
claimed  by  the  Company)  and  asserting  that  a 1970  court  judgment  which
recognized  the Company's  title to the disputed  area is a nullity.  Responsive
Peremptory Exceptions of Prescription and Res Judicata were filed by the Company
on March 3, 2000. On June 7, 2000, the court  rendered  judgment in favor of the
Company in the eviction  proceedings and ordered Ernest  Singleton to vacate the
premises. Although Mr. Singleton has left Avoca Island, an appeal was filed. The
judgment of eviction was affirmed by the appellate court and has become final.

         In December,  2000, thirty-four named individuals,  alleging themselves
to be  descendants  of the  original  owners of the  property  described  in the
petition  and  reconventional  demand,  were  allowed  to  intervene  and assert
ownership  claims in the  proceedings.  In  response,  a Dilatory  Exception  of
Vagueness  was filed.  The  exception  was  maintained  on February 9, 2001.  On
January 29, 2003, the court, on the Company's motion, dismissed the intervention
because the

                                                                   Page 12 of 18
<PAGE>

intervenors  had failed to amend the  intervention  within the time specified by
the court on February 9, 2001.

         On March  26,  2001,  the court  rendered  judgment  upholding  Avoca's
exception of Res Judicata and dismissing the Singletons'  Reconventional  Demand
and Petition in Nullity.  The Singletons appealed to the Louisiana First Circuit
Court of Appeals,  which on October 2, 2002 reversed the trial court's Judgment.
The  Company's  application  for a rehearing was denied and the  litigation  was
remanded to the trial court for further proceedings,  including consideration of
the  Exception  of  Prescription  filed by the  Company  on March 3,  2000,  the
Exception of No Cause of Action which it filed on December 27, 2002 with respect
to the nullity  claim and the Motion to Set Hearing for Class  Action  which the
Singletons  filed on January 6, 2003. On January 24, 2003,  the court upheld the
Company's  Exception of No Cause of Action and ruled that the Singletons had not
stated a cause of action to annul the 1970  judgment  (effectively  mooting  the
Company's  Exception of Prescription).  Having been given 30 days to amend their
petition to properly  assert a nullity  action,  the Singletons on February 2003
filed an Amended Reconventional  Petition asserting fraud as the basis for their
above-mentioned nullity claim; expanding their original ownership claim to cover
162  acres,  including  all of the  Company's  acreage in the unit for the C. M.
Thibodaux  Nos. 1 and 3 wells and the Meridian  State Lease No. 16049 well and a
small  portion  of the unit for the Avoca No.  47-1 well;  naming  The  Meridian
Resources  &  Exploration  LLC as third  party  defendant  to defend its royalty
distributions;  and seeking to have the litigation  certified as a class action.
On April 3, 2003,  the  Company  filed an Answer to the  Amended  Reconventional
Petition.

         On September 13, 2001 (prior to the appellate  court's  October 2, 2002
ruling),  the Company filed a Motion for Preliminary  Injunction to prohibit the
Singletons,  their invitees,  et al. from

                                                                   Page 13 of 18
<PAGE>

trespassing  on or  interfering  with the Company's  possession and enjoyment of
certain  described  portions of Avoca Island in  disregard of the court's  prior
judgments.  The motion was heard on October  31,  2001.  On November  26,  2001,
pursuant to a joint  stipulation of the parties,  the court addressed certain of
the  conduct  complained  of in the motion and  granted  injunctive  relief with
respect thereto.

         The  Company   believes   it  has   meritorious   defenses   (including
prescription)  to all of the claims  asserted by the  Singletons  and intends to
continue to vigorously defend against them.

         2.       On  June  28,  1999,  Ernest  and  Evelyn  Singleton,  William
Singleton, Jr., Perry Smith, Brenda Henderson, Individually and on Behalf of Her
Minor Children, Mikila and Keith Henderson, Mandalay Properties, LLC, Anthony J.
Guarisco,  Jr., Marilyn G. Vinson, Terry D. Guarisco,  Sr.,  Individually and as
Representatives  of All  Those  Similarly  Situated  filed in the 16th  Judicial
District Court for the Parish of St. Mary (Docket No. 104204) a lawsuit  against
Northfield  Insurance Company,  The Lumbermen's  Mutual Casualty Company,  Texas
Meridian Production  Corporation,  The Meridian Resource & Exploration  Company,
George Smith,  George Craig, Kurt D. Byth,  Patterson  Services,  Inc., Reliance
Insurance  Company,  Commercial  Underwriters  Insurance  Company and  Petroleum
Professionals  International,  Inc.  seeking  damages  for  loss of  production,
reservoir damage, property damage and personal injury resulting from the blowout
of the C. M.  Thibodaux  No. 2 well  (precursor  of the Thibodaux No. 3 well) in
June of 1999.

         On May 15, 2002, the Louisiana  First Circuit Court of Appeal  affirmed
the trial court's  certification of the lawsuit as a class action.  The Company,
which has an  interest  in the unit for the well,  falls  within  the "below the
ground"  subclass of persons owning mineral  interests  impacted by

                                                                   Page 14 of 18
<PAGE>
the blowout. The Company has not been notified by the trial court of the date by
which  members  of the  class  must  elect to  remain in or opt out of the class
action.

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

         The  Company's  Annual  Meeting of  Shareholders  was held on March 18,
2003. Management's proposal to fix at five the number of directors to be elected
for the ensuing year was approved by the following vote:

                 For       Against       Abstain        Broker Nonvotes
                 ---       -------       -------        ---------------
               661,167        6           1,938               -

Messrs. Baird,  Boudreaux,  Lyman,  Powell and Tucker were elected directors for
the ensuing year by the following vote:
                                                       Withhold
                                              For        Vote    Broker Nonvotes
                                              ---      --------  ---------------
               Robert C. Baird, Jr.         663,063       48            -
               Bernard E. Boudreaux, Jr.    663,063       48            -
               Guy C. Lyman, Jr.            663,063       48            -
               M. Cleland Powell, III       663,078       33            -
               J. Scott Tucker              663,063       48            -

Item 6 - Exhibits and Reports on Form 8-K

         (a)      Exhibits required by Item 601 of Regulation S-B.
         None.

                                                                   Page 15 of 18

<PAGE>

         (b)      Reports on Form 8-K.
         One report on Form 8-K, dealing with a letter written to, but not filed
with, the Securities and Exchange  Commission,  was filed on March 26, 2003. The
letter deals with a certification  required by Section 906 of the Sarbanes-Oxley
Act of 2002.

                                   SIGNATURES

         In accordance with the requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

                                                    AVOCA, INCORPORATED
                                             -----------------------------------
                                                        (Registrant)

Dated: May 7, 2003                         By: /s/Robert C. Baird, Jr.
      ----------------------                  ----------------------------------
                                              Robert C. Baird, Jr.
                                              President and Principal  Financial
                                              Officer


                                                                   Page 16 of 18
<PAGE>



                                 CERTIFICATIONS

                  I,  Robert C.  Baird,  Jr.,  Principal Executive  Officer  and
Principal  Financial  Officer of registrant, certify that:

                  1.       I have reviewed this quarterly  report on Form 10-QSB
of Avoca, Incorporated;

                  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 included 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 date 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 registrant's  board of directors (or persons
performing the equivalent functions):

                                                                   Page 17 of 18
<PAGE>


                  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 or not 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.

Dated:  May 7, 2003                        By:/s/Robert C. Baird, Jr.
      ----------------------                  ----------------------------------
                                              Robert C. Baird, Jr.
                                              Principal Executive Officer and
                                              Principal Financial Officer




                                                                   Page 18 of 18