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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001209191-03-001354.txt : 20030304
<SEC-HEADER>0001209191-03-001354.hdr.sgml : 20030304
<ACCEPTANCE-DATETIME>20030304113350
ACCESSION NUMBER:		0001209191-03-001354
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030228
FILED AS OF DATE:		20030304

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VAN KAMPEN HIGH INCOME TRUST II
		CENTRAL INDEX KEY:			0000846671
		IRS NUMBER:				366900462
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-05769
		FILM NUMBER:		03590653

	BUSINESS ADDRESS:	
		STREET 1:		ONE PARKVIEW PLZ
		STREET 2:		VAN KAMPEN INVESTMENTS INC
		CITY:			OAKBROOK TERRACE
		STATE:			IL
		ZIP:			60181
		BUSINESS PHONE:		6306846774

	MAIL ADDRESS:	
		STREET 1:		VAN KAMPEN INVESTMENTS INC
		STREET 2:		ONE PARKVIEW PLAZA
		CITY:			OAKBROOK TERRACE
		STATE:			IL
		ZIP:			60181

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VAN KAMPEN MERRITT LIMITED TERM HIGH INCOME TRUST
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VAN KAMPEN AMERICAN CAPITAL LIMITED TERM HIGH INCOME
		DATE OF NAME CHANGE:	19960102

REPORTING-OWNER:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WHALEN WAYNE W
		CENTRAL INDEX KEY:			0000906048
		RELATIONSHIP:				DIRECTOR

	FILING VALUES:
		FORM TYPE:		4

	BUSINESS ADDRESS:	
		STREET 1:		333 WEST WACKER DR SUITE 2100
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		3129247357

	MAIL ADDRESS:	
		STREET 1:		4920 S GREENWOOD
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60615
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>i1936.htm
<DESCRIPTION>FORM 4 SUBMISSION
<TEXT>
<TABLE align="right" width="200" border="1" cellspacing="0" cellpadding="1">
  <TR>
    <TD align="middle"><FONT size="2">OMB APPROVAL</FONT></TD>
  </TR>
  <TR>
    <TD><FONT size="2">OMB Number: 3235-0287</FONT></TD>
  </TR>
  <TR>
    <TD><FONT size="2">Expires: January 31, 2005</FONT></TD>
  </TR>
  <TR>
    <TD><FONT size="2">Estimated average burden<BR>
        hours per response...0.5</FONT></TD>
  </TR>
</TABLE>
<BR clear="right">
<BR clear="right">
<P align="center"><FONT size="4"><B>UNITED STATES<BR>
      SECURITIES AND EXCHANGE COMMISSION</B></FONT><BR>
  <FONT size="3"><B>Washington, DC 20549</B></FONT>
<P align="center"><FONT size="5"><B>FORM 4</B></FONT>
<P>
<P align="center"><FONT size="4"><B>STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP</B></FONT>
<P align="center"><FONT size="3"><B>Filed pursuant to Section 16(a) of the Securities
      Exchange Act of 1934,<BR>
      Section 17(a) of the Public Utility Holding Company Act of 1935<BR>
      or Section 30(h) of the Investment Company Act of 1940</B></FONT>
<P>
  <TABLE border="0" cellspacing="0" cellpadding="4">
    <TR valign="top">
      <TD>
        <FONT face="wingdings">o</FONT>
      </TD>
      <TD><FONT size="2">Check this box if no longer<BR>
          subject to Section&nbsp;16.<BR>
          Form&nbsp;4 or Form&nbsp;5<BR>
          obligations may continue.<BR>
          See Instruction&nbsp;1(b).</FONT></TD>
    </TR>
  </TABLE>
  <TABLE border="0" cellspacing="0" cellpadding="3" width="100%">
    <TR>
      <TD colspan="13"><HR noshade>
      </TD>
    </TR>
    <TR valign="top">
      <TD width="1%"><FONT size="2"><B>1.</B></FONT></TD>
      <TD width="25%" colspan="4" nowrap><FONT size="2"><B>Name and Address of Reporting<BR>
            Person*</B> <I>(Last, First, Middle)</I></FONT></TD>
      <TD width="1%"><FONT size="2"><B>2.</B></FONT></TD>
      <TD width="20%" colspan="4" nowrap><FONT size="2"><B>Issuer Name and Ticker or<BR>
            Trading Symbol</B></FONT></TD>
      <TD width="1%"><FONT size="2"><B>3.</B></FONT></TD>
      <TD width="20%" nowrap colspan="2"><FONT size="2"><B>I.R.S. Identification Number of
            Reporting<BR>
            Person, if an entity</B> <I>(Voluntary)</I></FONT></TD>
    </TR>
    <TR valign="bottom">
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD colspan="4"><FONT size="2">Whalen, Wayne, W</FONT>
        <HR size="1" noshade>
      </TD>
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD colspan="4" valign="bottom"><FONT size="2">Van Kampen High Income Trust II (VLT)</FONT>
        <HR size="1" noshade>
      </TD>
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD colspan="2"><FONT size="2"> </FONT size="2"><HR size="1" noshade>
      </TD>
    </TR>
    <TR valign="top">
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD colspan="4" rowspan="2" valign="bottom"><FONT size="2">Skadden, Arps, Slate, Meagher & Flom 333 West Wack</FONT><HR size="1" noshade>
      </TD>
      <TD><FONT size="2"><B>4.</B></FONT></TD>
      <TD colspan="4"><FONT size="2"><B>Statement for Month/Day/Year</B></FONT></TD>
      <TD><FONT size="2"><B>5.</B></FONT></TD>
      <TD colspan="2"><FONT size="2"><B>If Amendment, Date of Original</B> <I>(Month/Day/Year)</I></FONT></TD>
    </TR>
    <TR valign="top">
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD colspan="4"><FONT size="2">03/04/2003</FONT><HR size="1" noshade>
      </TD>
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD colspan="2"><FONT size="2"></FONT><HR size="1" noshade>
      </TD>
    </TR>
    <TR valign="top">
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD colspan="4" align="middle"><FONT size="2"><I>(Street)</I></FONT></TD>
      <TD><FONT size="2"><B>6.</B></FONT></TD>
      <TD colspan="4"><FONT size="2"><B>Relationship of Reporting Person(s)<BR>
            to Issuer</B> <I>(Check All Applicable)</I></FONT></TD>
      <TD><FONT size="2"><B>7.</B></FONT></TD>
      <TD colspan="2"><FONT size="2"><B>Individual or Joint/Group Filing</B><BR>
          <I>(Check Applicable Line)</I></FONT></TD>
    </TR>
    <TR valign="top">
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD colspan="4" rowspan="3"><FONT size="2">Chicago, IL 60606</FONT><HR size="1" noshade>
        <FONT size="2"><I>(City)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(State)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Zip)</I></FONT></TD>
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD nowrap>
        <FONT face="wingdings">x</FONT>
      </TD>
      <TD nowrap><FONT size="2">&nbsp;Director</FONT></TD>
      <TD width="1%" nowrap>
        <FONT face="wingdings">o</FONT>
      </TD>
      <TD nowrap><FONT size="2">&nbsp;10% Owner</FONT></TD>
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD>
        <FONT face="wingdings">x</FONT>
      </TD>
      <TD><FONT size="2">Form filed by One Reporting Person</FONT></TD>
    </TR>
    <TR valign="top">
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD width="1%" nowrap>
        <FONT face="wingdings">o</FONT>
      </TD>
      <TD colspan="3" nowrap><FONT size="2">&nbsp;Officer <I>(give title below)</I></FONT></TD>
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD>
        <FONT face="wingdings">o</FONT>
      </TD>
      <TD rowspan="2"><FONT size="2">Form filed by More than One Reporting Person</FONT></TD>
    </TR>
    <TR valign="top">
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD width="1%" nowrap>
        <FONT face="wingdings">o</FONT>
      </TD>
      <TD nowrap colspan="3"><FONT size="2">&nbsp;Other <I>(specify below)</I></FONT></TD>
      <TD><FONT size="2">&nbsp;</FONT></TD>
    </TR>
    <TR valign="top">
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD colspan="4"><FONT size="2">&nbsp;</FONT></TD>
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD nowrap></TD>
      <TD colspan="3"><FONT size="2"></FONT><HR size="1" noshade>
      </TD>
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><FONT size="2">&nbsp;</FONT></TD>
    </TR>
    <TR>
      <TD colspan="13"><HR noshade>
      </TD>
    </TR>
  </TABLE>
  <TABLE border="0" width="100%">
    <TR>
      <TD align="right" width="1%"><FONT size="2">Reminder:</FONT></TD>
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD><FONT size="2">Report on a separate line for each class of securities
          beneficially owned directly or indirectly.</FONT></TD>
    </TR>
    <TR>
      <TD colspan="3"><FONT size="2">&nbsp;</FONT></TD>
    </TR>
    <TR>
      <TD align="right" valign="top"><FONT size="2">*</FONT></TD>
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD><FONT size="2">If the form is filed by more than one reporting person, <I>see</I>
          instruction 4(b)(v).</FONT></TD>
    </TR>
    <TR>
      <TD colspan="3"><FONT size="2">&nbsp;</FONT></TD>
    </TR>
  </TABLE>
  <PAGE>
<p STYLE="page-break-before: always"></p>    <TABLE border="0" cellspacing="0" cellpadding="0" width="100%">
      <TR>
        <TD colspan="25"><HR noshade>
        </TD>
      </TR>
      <TR>
        <TD align="middle" colspan="25"><FONT size="2"><B>Table I - Non-Derivative Securities
              Acquired, Disposed of, or Beneficially Owned</B></FONT></TD>
      </TR>
      <TR>
        <TD colspan="25"><HR noshade>
        </TD>
      </TR>
      <TR valign="top">
        <TD><FONT size="1"><B>1.</B></FONT></TD>
        <TD><FONT size="1"><B>Title of Security</B><BR>
            <I>(Instr. 3)</I></FONT></TD>
        <TD><FONT size="1"><B>2.</B></FONT></TD>
        <TD nowrap><FONT size="1"><B>Transaction Date</B><BR>
            <I>(Month/Day/Year)</I></FONT></TD>
        <TD><FONT size="1"><B>2a.</B></FONT></TD>
        <TD nowrap><FONT size="1"><B>Deemed Execution<BR>
              Date, if any.</B><BR>
            <I>(Month/Day/Year)</I></FONT></TD>
        <TD align="middle"><FONT size="1"><B>3.</B></FONT></TD>
        <TD colspan="2"><FONT size="1"><B>Transaction Code</B><BR>
            <I>(Instr. 8)</I></FONT></TD>
        <TD><FONT size="1"><B>4.</B></FONT></TD>
        <TD colspan="7" nowrap><FONT size="1"><B>Securities Acquired (A)<BR>
              or Disposed of (D)</B><BR>
            <I>(Instr. 3, 4 and 5)</I></FONT></TD>
        <TD><B><FONT size="1">5.</FONT></B></TD>
        <TD colspan="3" nowrap><FONT size="1"><B>Amount of Securities<BR>
              Beneficially Owned<BR>
              Following Reported
              <BR>
              Transactions(s)</B><BR>
            <I>(Instr. 3 and 4)</I></FONT></TD>
        <TD><B><FONT size="1">6.</FONT></B></TD>
        <TD nowrap><FONT size="1"><B>Ownership<BR>
              Form:<BR>
              Direct (D) or<BR>
              Indirect (I)</B><BR>
            <I>(Instr. 4)</I></FONT></TD>
        <TD><B><FONT size="1">7.</FONT></B></TD>
        <TD nowrap><FONT size="1"><B>Nature of<BR>
              Indirect<BR>
              Beneficial<BR>
              Ownership</B><BR>
            <I>(Instr. 4)</I></FONT></TD>
      </TR>
      <TR>
        <TD colspan="25"><HR noshade>
        </TD>
      </TR>
      <TR valign="bottom">
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1"><B>Code</B></FONT></TD>
        <TD><FONT size="1"><B>V</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD colspan="3" align="middle"><FONT size="1"><B>Amount</B></FONT></TD>
        <TD align="middle"><FONT size="1"><B>(A)<BR>
              or<BR>
              (D)</B></FONT></TD>
        <TD align="middle" colspan="3"><FONT size="1"><B>Price</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD colspan="3"><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
      </TR>
      <TR>
        <TD colspan="25"><HR noshade>
        </TD>
      </TR>
    </TABLE>
    <P align="center"><FONT size="2">Page 2</FONT>
      <PAGE>
        <P>
<p STYLE="page-break-before: always"></p>          <TABLE border="0" cellspacing="0" cellpadding="0" width="100%">
            <TR>
              <TD colspan="17"><HR noshade>
              </TD>
            </TR>
            <TR>
              <TD align="middle" colspan="19"><FONT size="2"><B>Table II - Derivative Securities
                    Acquired, Disposed of, or Beneficially Owned<BR>
                    &nbsp;&nbsp;(<I>e.g.</I>, puts, calls, warrants, options, convertible
                    securities)</B></FONT></TD>
            </TR>
            <TR>
              <TD colspan="19"><HR noshade>
              </TD>
            </TR>
            <TR valign="top">
              <TD><FONT size="1"><B>1.</B></FONT></TD>
              <TD nowrap><FONT size="1"><B>Title of Derivative<BR>
                    Security</B><BR>
                  <I>(Instr. 3)</I></FONT></TD>
              <TD><FONT size="1"><B>2.</B></FONT></TD>
              <TD colspan="3" nowrap><FONT size="1"><B>Conversion or Exercise<BR>
                    Price of Derivative<BR>
                    Security</B></FONT></TD>
              <TD><FONT size="1"><B>3.</B></FONT></TD>
              <TD nowrap><FONT size="1"><B>Transaction<BR>
                    Date</B><BR>
                  <I>(Month/Day/Year)</I></FONT></TD>
              <TD><FONT size="1"><B>3a.</B></FONT></TD>
              <TD nowrap><FONT size="1"><B>Deemed Execution<BR>
                    Date, if any</B><BR>
                  <I>(Month/Day/Year)</I></FONT></TD>
              <TD><FONT size="1"><B>4.</B></FONT></TD>
              <TD colspan="2" nowrap><FONT size="1"><B>Transaction<BR>
                    Code</B><BR>
                  <I>(Instr. 8)</I></FONT></TD>
              <TD><FONT size="1"><B>5.</B></FONT></TD>
              <TD colspan="4" nowrap><FONT size="1"><B>Number of Derivative Securities<BR>
                    Acquired (A) or Disposed of (D)</B><BR>
                  <I>(Instr. 3, 4 and 5)</I></FONT>
            <TR>
              <TD colspan="16"><HR noshade>
              </TD>
            </TR>
            <TR valign="bottom">
              <TD><FONT size="1">&nbsp;</FONT></TD>
              <TD><FONT size="1">&nbsp;</FONT></TD>
              <TD><FONT size="1">&nbsp;</FONT></TD>
              <TD><FONT size="1">&nbsp;</FONT></TD>
              <TD><FONT size="1">&nbsp;</FONT></TD>
              <TD><FONT size="1">&nbsp;</FONT></TD>
              <TD><FONT size="1">&nbsp;</FONT></TD>
              <TD><FONT size="1">&nbsp;</FONT></TD>
              <TD><FONT size="1">&nbsp;</FONT></TD>
              <TD><FONT size="1">&nbsp;</FONT></TD>
              <TD><FONT size="1">&nbsp;</FONT></TD>
              <TD><FONT size="1"><B>Code</B></FONT></TD>
              <TD><FONT size="1"><B>V</B></FONT></TD>
              <TD><FONT size="1">&nbsp;</FONT></TD>
              <TD align="middle"><FONT size="1"><B>(A)</B></FONT></TD>
              <TD align="middle"><FONT size="1"><B>(D)</B></FONT></TD>
            </TR>
            <TR>
              <TD colspan="16"><HR noshade>
              </TD>
            </TR>
            <TR bgcolor="#eeeeee">
              <TD width="2%"><FONT size="1">&nbsp;</FONT></TD>
              <TD width="11%"><FONT size="1">Phantom Stock Units</FONT>
              </TD>
              <TD width="2%"><FONT size="1">&nbsp;</FONT></TD>
              <TD width="3%" align="right"><FONT size="1">1 for 1</FONT>
              </TD>
              <TD width="4%" align="right"><FONT size="1"> </FONT>
              </TD>
              <TD width="4%"><FONT size="1">&nbsp;</FONT></TD>
              <TD width="2%"><FONT size="1">&nbsp;</FONT></TD>
              <TD width="7%" align="middle"><FONT size="1">2/28/2003</FONT>
              </TD>
              <TD width="2%"><FONT size="1">&nbsp;</FONT></TD>
              <TD width="8%" align="middle"><FONT size="1"></FONT>
              </TD>
              <TD width="2%"><FONT size="1">&nbsp;</FONT></TD>
              <TD width="5%"><FONT size="1">A</FONT>
              </TD>
              <TD width="5%"><FONT size="1"></FONT>
              </TD>
              <TD width="2%"><FONT size="1">&nbsp;</FONT></TD>
              <TD width="5%" align="middle"><FONT size="1">1,747.598</FONT>
              </TD>
              <TD width="5%" align="middle"><FONT size="1"></FONT>
              </TD>
            <TR>
              <TD colspan="16"><HR size="1" noshade>
              </TD>
            </TR>
          </TABLE>
        <P align="center"><FONT size="2">Page 3</FONT>
          <PAGE>
<p STYLE="page-break-before: always"></p>            <TABLE border="0" cellspacing="0" cellpadding="0" width="100%">
              <TR>
                <TD colspan="18"><HR noshade>
                </TD>
              </TR>
              <TR>
                <TD align="middle" colspan="18"><FONT size="2"><B>Table II - Derivative Securities
                      Acquired, Disposed of, or Beneficially Owned - Continued<BR>
                      (<I>e.g.</I>, puts, calls, warrants, options, convertible securities)</B></FONT></TD>
              </TR>
              <TR>
                <TD colspan="18"><HR noshade>
                </TD>
              </TR>
              <TR valign="top">
                <TD><FONT size="1"><B>6.</B></FONT></TD>
                <TD colspan="2"><FONT size="1"><B>Date Exercisable and<BR>
                      Expiration Date</B><BR>
                    <I>(Month/Day/Year)</I></FONT></TD>
                <TD><FONT size="1"><B>7.</B></FONT></TD>
                <TD colspan="2"><FONT size="1"><B>Title and Amount<BR>
                      of Underlying Securities</B><BR>
                    <I>(Instr. 3 and 4)</I></FONT></TD>
                <TD align="middle"><FONT size="1"><B>8.</B></FONT></TD>
                <TD colspan="3"><FONT size="1"><B>Price of Derivative<BR>
                      Security</B><BR>
                    <I>(Instr. 5)</I></FONT></TD>
                <TD align="middle"><FONT size="1"><B>9.</B></FONT></TD>
                <TD colspan="3" nowrap><FONT size="1"><B>Number of Derivative<BR>
                      Securities Beneficially Owned<BR>
                      Following Reported Transaction(s)</B><BR>
                    <I>(Instr. 4)</I></FONT></TD>
                <TD><FONT size="1"><B>10.</B></FONT></TD>
                <TD nowrap><FONT size="1"><B>Ownership Form of
                      <BR>
                      Derivative Security:<BR>
                      Direct (D) or Indirect (I)</B><BR>
                    <I>(Instr. 4)</I></FONT></TD>
                <TD><FONT size="1"><B>11.</B></FONT></TD>
                <TD nowrap><FONT size="1"><B>Nature of<BR>
                      Indirect<BR>
                      Beneficial<BR>
                      Ownership</B><BR>
                    <I>(Instr. 4)</I></FONT></TD>
              </TR>
              <TR>
                <TD colspan="18" valign="top"><HR noshade>
                </TD>
              </TR>
              <TR valign="bottom">
                <TD width="2%"><FONT size="1">&nbsp;</FONT></TD>
                <TD width="4%" align="middle" nowrap><FONT size="1"><B>Date<BR>
                      Exercisable</B></FONT></TD>
                <TD width="4%" align="middle" nowrap><FONT size="1"><B>Expiration<BR>
                      Date</B></FONT></TD>
                <TD width="2%"><FONT size="1">&nbsp;</FONT></TD>
                <TD width="4%"><FONT size="1"><B>Title</B></FONT></TD>
                <TD width="3%" align="middle" nowrap><FONT size="1"><B>Amount or<BR>
                      Number of<BR>
                      Shares</B></FONT></TD>
                <TD width="2%"><FONT size="1">&nbsp;</FONT></TD>
                <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
                <TD width="3%"><FONT size="1">&nbsp;</FONT></TD>
                <TD width="2%"><FONT size="1">&nbsp;</FONT></TD>
                <TD width="2%"><FONT size="1">&nbsp;</FONT></TD>
                <TD width="2%"><FONT size="1">&nbsp;</FONT></TD>
                <TD width="4%"><FONT size="1">&nbsp;</FONT></TD>
                <TD width="4%"><FONT size="1">&nbsp;</FONT></TD>
                <TD width="2%"><FONT size="1">&nbsp;</FONT></TD>
                <TD width="10%"><FONT size="1">&nbsp;</FONT></TD>
                <TD width="2%"><FONT size="1">&nbsp;</FONT></TD>
                <TD width="5%"><FONT size="1">&nbsp;</FONT></TD>
              </TR>
              <TR>
                <TD colspan="18"><HR noshade>
                </TD>
              </TR>
              <TR valign="bottom" bgcolor="#eeeeee">
                <TD><FONT size="1">&nbsp;</FONT></TD>
                <TD align="middle"><FONT size="1">(1)</FONT>
                </TD>
                <TD align="middle"><FONT size="1">(1)</FONT>
                </TD>
                <TD><FONT size="1">&nbsp;</FONT></TD>
                <TD><FONT size="1">Common Stock</FONT>
                </TD>
                <TD align="right"><FONT size="1">1,747.598</FONT>
                </TD>
                <TD><FONT size="1">&nbsp;</FONT></TD>
                <TD align="right"><font size="1">4.5800</font>
                </TD>
                <TD align="right"><FONT size="1"> </FONT>
                </TD>
                <TD><FONT size="1">&nbsp;</FONT></TD>
                <TD><FONT size="1">&nbsp;</FONT></TD>
                <TD><FONT size="1">&nbsp;</FONT></TD>
                <TD align="right"><FONT size="1">62,071.036</FONT>
                </TD>
                <TD><FONT size="1">&nbsp;</FONT></TD>
                <TD><FONT size="1">&nbsp;</FONT></TD>
                <TD><FONT size="1">D</FONT>
                </TD>
                <TD><FONT size="1">&nbsp;</FONT></TD>
                <TD><FONT size="1"></FONT>
                </TD>
              </TR>
              <TR>
                <TD colspan="18"><HR noshade>
                </TD>
              </TR>
            </TABLE>
            <P><FONT size="2"><B>Explanation of Responses:</B></FONT>
            <P><FONT size="2">(1) The phantom stock units were accrued under the VLT directors' deferred compensation plan and are to be settled 100% in cash, in generally equal annual installments over a period of five (5) years beginning on the date of the Director's retirement or disability, except that the Board of Directors, in its sole discretion, may accelerate or extend the distribution.</FONT>
            <P>
              <TABLE border="0" width="65%" align="center">
                <TR valign="bottom">
                  <TD align="middle" width="30%"><FONT size="2">/s/ Wayne W. Whalen</FONT>
                  </TD>
                  <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
                  <TD align="middle" width="30%"><FONT size="2">3/4/2003</FONT>
                  </TD>
                </TR>
                <TR>
                  <TD valign="top" align="middle"><HR size="1" noshade>
                    <FONT size="2">**Signature of Reporting Person<BR>Attorney-in-Fact</FONT></TD>
                  <TD><FONT size="2">&nbsp;</FONT></TD>
                  <TD valign="top" align="middle"><HR size="1" noshade>
                    <FONT size="2">Date</FONT></TD>
                </TR>
              </TABLE>
            <P>
              <HR size="1" width="18%" noshade align="left">
              <TABLE border="0" width="100%">
                <TR>
                  <TD align="right" valign="top"><FONT size="2">**</FONT></TD>
                  <TD><FONT size="2">&nbsp;</FONT></TD>
                  <TD><FONT size="2">Intentional misstatements or omissions of facts constitute
                      Federal Criminal Violations. <I>See</I> 18&nbsp;U.S.C.&nbsp;1001 and
                      15&nbsp;U.S.C.&nbsp;78ff(a).</FONT></TD>
                </TR>
                <TR>
                  <TD colspan="3"><FONT size="2">&nbsp;</FONT></TD>
                </TR>
                <TR>
                  <TD align="right" valign="top"><FONT size="2">Note:</FONT></TD>
                  <TD><FONT size="2">&nbsp;</FONT></TD>
                  <TD><FONT size="2">File three copies of this Form, one of which must be manually
                      signed. If space is insufficient, <I>see</I> Instruction 6 for procedure.</FONT></TD>
                </TR>
                <TR>
                  <TD colspan="3"><FONT size="2">&nbsp;</FONT></TD>
                </TR>
              </TABLE>
            <P align="center"><FONT size="2">Page 4</FONT></P>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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