Exhibit 99



CERBCO, Inc.

CONSOLIDATING SCHEDULE  STATEMENT OF OPERATIONS INFORMATION

THREE MONTHS ENDED
MARCH 31, 2004

(unaudited)



|                                             |  |                           |            |   |  |     |              |   |            |                             |  |   |                  |   |  |   |            |  
|-------------------------------------------- |  | ------------------------- | ---------- | - |  | --- | ------------ | - | ---------- | --------------------------- |  | - | ---------------- | - |  | - | ---------- | -
|                                             |  | CERBCO, Inc. Consolidated |            |   |  |     | Eliminations |   |            | CERBCO, Inc. Unconsolidated |  |   | INEI Corporation |  
|                                             |  |                           |            |  
|Sales                                        |  | $                         | 0          |   |  | (A) |              | $ | (112,134   | )                           |  | $ | 0                |   |  | $ | 112,134    |  
|                                             |  |                           |            |   |  |     |              |   |            |                             |  |   |                  |   |  |   |            |  
|Costs and Expenses:                          |  |                           |            |   |  |     |              |   |            |                             |  |   |                  |   |  |   |            |  
|Cost of sales                                |  |                           | 0          |   |  | (A) |              |   | (252,031   | )                           |  |   | 0                |   |  |   | 252,031    |  
|Selling, general and administrative expenses |  |                           | 522,557    |   |  | (A) |              |   | (1,436,582 | )                           |  |   | 522,557          |   |  |   | 1,436,582  |  
|                                             |  |                           |            |   |  |     |              |   |            |                             |  |   |                  |   |  |   |            |  
|Total Costs and Expenses                     |  |                           | 522,557    |   |  |     |              |   | (1,688,613 | )                           |  |   | 522,557          |   |  |   | 1,688,613  |  
|                                             |  |                           |            |   |  |     |              |   |            |                             |  |   |                  |   |  |   |            |  
|Operating Loss                               |  |                           | (522,557   | ) |  |     |              |   | 1,576,479  |                             |  |   | (522,557         | ) |  |   | (1,576,479 | )
|Gain on Sale of Property and Equipment - Net |  |                           | 0          |   |  | (A) |              |   | (270,990   | )                           |  |   | 0                |   |  |   | 270,990    |  
|Investment Income                            |  |                           | 26,385     |   |  | (A) |              |   | (8,325     | )                           |  |   | 26,385           |   |  |   | 8,325      |  
|Interest Expense                             |  |                           | 0          |   |  |     |              |   | 0          |                             |  |   | 0                |   |  |   | 0          |  
|Other Expense - Net                          |  |                           | (1,224     | ) |  | (A) |              |   | 48,010     |                             |  |   | (1,224           | ) |  |   | (48,010    | )
|                                             |  |                           |            |   |  |     |              |   |            |                             |  |   |                  |   |  |   |            |  
|Loss Before Income Taxes                     |  |                           | (497,396   | ) |  |     |              |   | 1,345,174  |                             |  |   | (497,396         | ) |  |   | (1,345,174 | )
|                                             |  |                           |            |   | 
|Provision (Credit) for Income Taxes          |  |                           | 0          |   |  |     |              |   | 0          |                             |  |   | 0                |   |  |   | 0          |  
|                                             |  |                           |            |   |  |     |              |   |            |                             |  |   |                  |   |  |   |            |  
|Loss from Continuing Operations              |  |                           | (497,396   | ) |  |     |              |   | 1,345,174  |                             |  |   | (497,396         | ) |  |   | (1,345,174 | )
|                                             |  |                           |            |   | 
|Loss from Discontinued Operations - Net      |  |                           | (526,453   | ) |  | (A) |              |   | (526,453   | )                           |  |   | 0                |   |  |   | 0          |  
|                                             |  |                           |            |   |  |     |              |   |            |                             |  |   |                  |   |  |   |            |  
|NET LOSS                                     |  | $                         | (1,023,849 | ) |  | (B) |              | $ | 818,721    |                             |  | $ | (497,396         | ) |  | $ | (1,345,174 | )
|                                             |  |                           |            |   |  |     |              |   |            |                             |  |   |                  |   |  |   |            |  



1



---

CERBCO, Inc.

CONSOLIDATING SCHEDULE  STATEMENT OF OPERATIONS INFORMATION

NINE MONTHS ENDED
MARCH 31, 2004

(unaudited)



|                                             |  |                           |            |   |  |     |              |   |            |                             |  |   |                  |    |  |   |            |  
|-------------------------------------------- |  | ------------------------- | ---------- | - |  | --- | ------------ | - | ---------- | --------------------------- |  | - | ---------------- | -- |  | - | ---------- | -
|                                             |  | CERBCO, Inc. Consolidated |            |   |  |     | Eliminations |   |            | CERBCO, Inc. Unconsolidated |  |   | INEI Corporation |   
|                                             |  |                           |            |  
|Sales                                        |  | $                         | 0          |   |  | (C) |              | $ | (2,004,973 | )                           |  | $ | 0                |    |  | $ | 2,004,973  |  
|                                             |  |                           |            |   |  |     |              |   |            |                             |  |   |                  |    |  |   |            |  
|Costs and Expenses:                          |  |                           |            |   |  |     |              |   |            |                             |  |   |                  |    |  |   |            |  
|Cost of sales                                |  |                           | 0          |   |  | (C) |              |   | (2,115,446 | )                           |  |   | 0                |    |  |   | 2,115,446  |  
|Selling, general and administrative expenses |  |                           | 852,457    |   |  | (C) |              |   | (3,133,508 | )                           |  |   | 852,457          |    |  |   | 3,133,508  |  
|                                             |  |                           |            |   |  |     |              |   |            |                             |  |   |                  |    |  |   |            |  
|Total Costs and Expenses                     |  |                           | 852,457    |   |  |     |              |   | (5,248,954 | )                           |  |   | 852,457          |    |  |   | 5,248,954  |  
|                                             |  |                           |            |   |  |     |              |   |            |                             |  |   |                  |    |  |   |            |  
|Operating Loss                               |  |                           | (852,457   | ) |  |     |              |   | 3,243,981  |                             |  |   | (852,457         | )  |  |   | (3,243,981 | )
|Gain on Sale of Property and Equipment - Net |  |                           | 0          |   |  | (C) |              |   | (6,027,759 | )                           |  |   | 0                |    |  |   | 6,027,759  |  
|Investment Income                            |  |                           | 128,229    |   |  | (C) |              |   | (8,541     | )                           |  |   | 128,229          |    |  |   | 8,541      |  
|Interest Expense                             |  |                           | 0          |   |  | (C) |              |   | 22,333     |                             |  |   | 0                |    |  |   | (22,333    | )
|Other Income (Expense) - Net                 |  |                           | (583,667   | ) |  | (C) |              |   | (40,734    | )                           |  |   | (583,667         | )  |  |   | 40,734     |  
|                                             |  |                           |            |   |  |     |              |   |            |                             |  |   |                  |    |  |   |            |  
|(Loss) Earnings Before Income Taxes          |  |                           | (1,307,895 | ) |  |     |              |   | (2,810,720 | )                           |  |   | (1,307,895       | )  |  |   | 2,810,720  |  
|                                             |  |                           |            |   | 
|Provision (Credit) for Income Taxes          |  |                           | 0          |   |  | (C) |              |   | (895,000   | )                           |  |   | 0                |    |  |   | 895,000    |  
|                                             |  |                           |            |   |  |     |              |   |            |                             |  |   |                  |    |  |   |            |  
|(Loss) Earnings from Continuing Operations   |  |                           | (1,307,895 | ) |  |     |              |   | (1,915,720 | )                           |  |   | (1,307,895       | )  |  |   | 1,915,720  |  
|                                             |  |                           |            |   | 
|Earnings from Discontinued Operations - Net  |  |                           | 749,744    |   |  | (C) |              |   | 749,744    |                             |  |   | 0                |    |  |   | 0          |  
|                                             |  |                           |            |   |  |     |              |   |            |                             |  |   |                  |    |  |   |            |  
|NET (LOSS) EARNINGS                          |  | $                         | (558,151   | ) |  | (D) |              | $ | (1,165,976 | )                           |  | $ | (1,307,895       | )) |  | $ | 1,915,720  |  
|                                             |  |                           |            |   |  |     |              |   |            |                             |  |   |                  |    |  |   |            |  



2



---

CERBCO, Inc.

CONSOLIDATING SCHEDULE  BALANCE SHEET INFORMATION

MARCH 31, 2004

(unaudited)



|                                                                |  |                           |            |  |        |              |   |            |                             |  |   |                  |   |  |   |            |  
|--------------------------------------------------------------- |  | ------------------------- | ---------- |  | ------ | ------------ | - | ---------- | --------------------------- |  | - | ---------------- | - |  | - | ---------- | -
|                                                                |  | CERBCO, Inc. Consolidated |            |  |        | Eliminations |   |            | CERBCO, Inc. Unconsolidated |  |   | INEI Corporation |  
|                                                                |  |                           |            | 
|ASSETS                                                          |  |                           |            |  |        |              |   |            |                             |  |   |                  |   |  |   |            |  
|Current Assets:                                                 |  |                           |            |  |        |              |   |            |                             |  |   |                  |   |  |   |            |  
|Cash and cash equivalents                                       |  | $                         | 17,590,356 |  |        |              | $ | 0          |                             |  | $ | 8,564,085        |   |  | $ | 9,026,271  |  
|Marketable securities                                           |  |                           | 7,001,862  |  |        |              |   | 0          |                             |  |   | 7,001,862        |   |  |   | 0          |  
|Accounts receivable                                             |  |                           | 574,287    |  |        |              |   | 0          |                             |  |   | 82,826           |   |  |   | 491,461    |  
|Inventories                                                     |  |                           | 114,398    |  |        |              |   | 0          |                             |  |   | 0                |   |  |   | 114,398    |  
|Prepaid and refundable taxes                                    |  |                           | 14,379     |  |        |              |   | 0          |                             |  |   | 0                |   |  |   | 14,379     |  
|Prepaid expenses and other                                      |  |                           | 165,985    |  |        |              |   | 0          |                             |  |   | 66,248           |   |  |   | 99,737     |  
|                                                                |  |                           |            |  |        |              |   |            |                             |  |   |                  |   |  |   |            |  
|TOTAL CURRENT ASSETS                                            |  |                           | 25,461,267 |  |        |              |   | 0          |                             |  |   | 15,715,021       |   |  |   | 9,746,246  |  
|                                                                |  |                           |            |  |       
|Investment in subsidiary                                        |  |                           | 0          |  | (E)    |              |   | (3,128,463 | )                           |  |   | 3,128,463        |   |  |   | 0          |  
|Intercompany receivables and payables                           |  |                           | 0          |  |        |              |   | 0          |                             |  |   | (32,391          | ) |  |   | 32,391     |  
|                                                                |  |                           |            |  |       
|Property, Plant and Equipment - net of accumulated depreciation |  |                           | 92,393     |  |        |              |   | 0          |                             |  |   | 5,408            |   |  |   | 86,985     |  
|                                                                |  |                           |            |  |       
|Other Assets:                                                   |  |                           |            |  |        |              |   |            |                             |  |   |                  |   |  |   |            |  
|Cash surrender value of SERP life insurance                     |  |                           | 2,342,515  |  |        |              |   | 0          |                             |  |   | 2,019,382        |   |  |   | 323,133    |  
|Marketable securities                                           |  |                           | 1,022,143  |  |        |              |   | 0          |                             |  |   | 1,022,143        |   |  |   | 0          |  
|Deferred income taxes - net of valuation allowance              |  |                           | 0          |  |        |              |   | 0          |                             |  |   | 0                |   |  |   | 0          |  
|Deposits and other                                              |  |                           | 44,489     |  |        |              |   | 0          |                             |  |   | 44,489           |   |  |   | 0          |  
|                                                                |  |                           |            |  |        |              |   |            |                             |  |   |                  |   |  |   |            |  
|TOTAL ASSETS                                                    |  | $                         | 28,962,807 |  |        |              | $ | (3,128,463 | )                           |  | $ | 21,902,515       |   |  | $ | 10,188,755 |  
|                                                                |  |                           |            |  |        |              |   |            |                             |  |   |                  |   |  |   |            |  
|LIABILITIES AND STOCKHOLDERS EQUITY                            |  |                           |            |  |        |              |   |            |                             |  |   |                  |   |  |   |            |  
|Current Liabilities:                                            |  |                           |            |  |        |              |   |            |                             |  |   |                  |   |  |   |            |  
|Accounts payable and accrued liabilities                        |  | $                         | 1,914,015  |  |        |              | $ | 0          |                             |  | $ | 75,222           |   |  | $ | 1,838,793  |  
|Income taxes payable                                            |  |                           | 10,000     |  |        |              |   | 0          |                             |  |   | 0                |   |  |   | 10,000     |  
|                                                                |  |                           |            |  |        |              |   |            |                             |  |   |                  |   |  |   |            |  
|TOTAL CURRENT LIABILITIES                                       |  |                           | 1,924,015  |  |        |              |   | 0          |                             |  |   | 75,222           |   |  |   | 1,848,793  |  
|Accrued SERP liability                                          |  |                           | 3,396,555  |  |        |              |   | 0          |                             |  |   | 3,050,334        |   |  |   | 346,221    |  
|                                                                |  |                           |            |  |        |              |   |            |                             |  |   |                  |   |  |   |            |  
|TOTAL LIABILITIES                                               |  |                           | 5,320,570  |  |        |              |   | 0          |                             |  |   | 3,125,556        |   |  |   | 2,195,014  |  
|                                                                |  |                           |            |  |        |              |   |            |                             |  |   |                  |   |  |   |            |  
|Non-Owned Interests                                             |  |                           | 4,865,278  |  | (C)(E) |              |   | 4,865,278  |                             |  |   | 0                |   |  |   | 0          |  
|                                                                |  |                           |            |  |        |              |   |            |                             |  |   |                  |   |  |   |            |  
|Stockholders Equity:                                           |  |                           |            |  |        |              |   |            |                             |  |   |                  |   |  |   |            |  
|Common stock                                                    |  |                           | 119,690    |  | (E)    |              |   | (176,087   | )                           |  |   | 119,690          |   |  |   | 176,087    |  
|Class B Common stock                                            |  |                           | 29,105     |  | (E)    |              |   | (11,904    | )                           |  |   | 29,105           |   |  |   | 11,904     |  
|Additional paid-in capital                                      |  |                           | 7,578,028  |  | (E)    |              |   | (4,022,323 | )                           |  |   | 7,578,028        |   |  |   | 4,022,323  |  
|Retained earnings                                               |  |                           | 11,050,136 |  | (D)(E) |              |   | (4,973,040 | )                           |  |   | 11,050,136       |   |  |   | 4,973,040  |  
|Treasury stock                                                  |  |                           | 0          |  | (E)    |              |   | 1,189,613  |                             |  |   | 0                |   |  |   | (1,189,613 | )
|                                                                |  |                           |            |  |        |              |   |            |                             |  |   |                  |   |  |   |            |  
|TOTAL STOCKHOLDERS EQUITY                                      |  |                           | 18,776,959 |  |        |              |   | (7,993,741 | )                           |  |   | 18,776,959       |   |  |   | 7,993,741  |  
|                                                                |  |                           |            |  |        |              |   |            |                             |  |   |                  |   |  |   |            |  
|TOTAL LIABILITIES AND STOCKHOLDERS EQUITY                      |  | $                         | 28,962,807 |  |        |              | $ | (3,128,463 | )                           |  | $ | 21,902,515       |   |  | $ | 10,188,755 |  
|                                                                |  |                           |            |  |        |              |   |            |                             |  |   |                  |   |  |   |            |  



3



---

CERBCO, Inc.

CONSOLIDATING ELIMINATION ENTRIES

MARCH 31, 2004

(unaudited)



|                                                                                                        |  |   |           |  |   |          
|------------------------------------------------------------------------------------------------------- |  | - | --------- |  | - | ---------
|(A)                                                                                                     |  |   |           |  |   |          
|Sales                                                                                                   |  | $ | 112,134   |  |   |          
|Gain on sale of property and equipment - net                                                            |  |   | 270,990   |  |   |          
|Investment income                                                                                       |  |   | 8,325     |  |   |          
|Loss from discontinued operations  net                                                                 |  |   | 526,453   |  |   |          
|Non-owned interests                                                                                     |  |   | 818,721   |  |   |          
|Cost of sales                                                                                           |  |   |           |  | $ | 252,031  
|Selling, general and administrative expenses                                                            |  |   |           |  |   | 1,436,582
|Other expense - net                                                                                     |  |   |           |  |   | 48,010   
|To eliminate the discontinued operations of INEI Corporation for the three months ended March 31, 2004. |  |   |           |  |   |          
|                                                                                                        |  |  
|(B)                                                                                                     |  |   |           |  |   |          
|Current year operations adjustments                                                                     |  | $ | 818,721   |  |   |          
|Retained earnings                                                                                       |  |   |           |  | $ | 818,721  
|To close out impact of eliminating entries on current quarters statement of operations.                |  |   |           |  |   |          
|                                                                                                        |  |  
|(C)                                                                                                     |  |   |           |  |   |          
|Sales                                                                                                   |  | $ | 2,004,973 |  |   |          
|Gain on sale of property and equipment - net                                                            |  |   | 6,027,759 |  |   |          
|Investment income                                                                                       |  |   | 8,541     |  |   |          
|Other income                                                                                            |  |   | 40,734    |  |   |          
|Cost of sales                                                                                           |  |   |           |  | $ | 2,115,446
|Selling, general and administrative expenses                                                            |  |   |           |  |   | 3,133,508
|Interest expense                                                                                        |  |   |           |  |   | 22,333   
|Provision for income taxes                                                                              |  |   |           |  |   | 895,000  
|Earnings from discontinued operations  net                                                             |  |   |           |  |   | 749,744  
|Non-owned interests                                                                                     |  |   |           |  |   | 1,165,976
|To eliminate the discontinued operations of INEI Corporation for the nine months ended March 31, 2004.  |  |   |           |  |   |          
|                                                                                                        |  |  
|(D)                                                                                                     |  |   |           |  |   |          
|Retained earnings                                                                                       |  | $ | 1,165,976 |  |   |          
|Current year operations adjustments                                                                     |  |   |           |  | $ | 1,165,976
|To close out impact of eliminating entries on nine months statement of operations.                     |  |   |           |  |   |          



4



---

CERBCO, Inc.

CONSOLIDATING ELIMINATION ENTRIES

MARCH 31, 2004

(unaudited)



|                                             |  |   |           |  |   |          
|-------------------------------------------- |  | - | --------- |  | - | ---------
|(E)                                          |  |   |           |  |   |          
|Common stock                                 |  | $ | 176,087   |  |   |          
|Class B stock                                |  |   | 11,904    |  |   |          
|Additional paid-in capital                   |  |   | 4,022,323 |  |   |          
|Retained earnings                            |  |   | 3,807,064 |  |   |          
|Treasury stock                               |  |   |           |  | $ | 1,189,613
|Non-owned interests                          |  |   |           |  |   | 3,699,302
|Investment in subsidiary                     |  |   |           |  |   | 3,128,463
|To eliminate investment in INEI Corporation. |  |   |           |  |   |          



5