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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001042187-99-000007.txt : 19990809
<SEC-HEADER>0001042187-99-000007.hdr.sgml : 19990809
ACCESSION NUMBER:		0001042187-99-000007
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	19990727
ITEM INFORMATION:		
FILED AS OF DATE:		19990802

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CTI INDUSTRIES CORP
		CENTRAL INDEX KEY:			0001042187
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS MANUFACTURING INDUSTRIES [3990]
		IRS NUMBER:				362848943
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		
		SEC FILE NUMBER:	000-23115
		FILM NUMBER:		99675730

	BUSINESS ADDRESS:	
		STREET 1:		22160 N PEPPER RD
		CITY:			BARRINGTON
		STATE:			IL
		ZIP:			60010

	MAIL ADDRESS:	
		STREET 1:		22160 N PEPPER RD
		STREET 2:		22160 N PEPPER RD
		CITY:			BARRINGTON
		STATE:			IL
		ZIP:			60010
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<DESCRIPTION>FORM 8-K
<TEXT>



                     U.S. SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549


                         _______________________________


                                    FORM 8-K

                                 CURRENT REPORT


     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

         Date of Report (Date of Earliest Event Reported): July 27, 1999


                           CTI INDUSTRIES CORPORATION
              ----------------------------------------------------
             (Exact Name of Registrant as Specified in its Charter)



   Delaware                         0-23115                     36-2848943
   --------                         -------                     ----------
(State or Other              (Commission File Number)          (IRS Employer
 Jurisdiction of                                             Identification No.)
  Incorporation)



      2216 North Pepper Road, Barrington, Illinois            60010
      --------------------------------------------           -------
        (Address of Principal Executive Offices)            (Zip Code)


                                (847) - 382-1000
               --------------------------------------------------
              (Registrant's Telephone Number, including Area Code)



<PAGE>




Item 4.           Changes in Registrant's Certifying Accountant.
- -------           ----------------------------------------------

         Effective July 27, 1999, CTI Industries  Corporation (the "Registrant")
engaged Grant Thornton LLP as the  Registrant's  principal  accountants to audit
the  Registrant's  financial  statements  for the year ending  October 31, 1999.
Grant  Thornton  LLP  replaces   PricewaterhouseCoopers   LLP  ("PwC")  who  had
previously been engaged for the same purpose,  and whose dismissal was effective
July 27, 1999. The decisions to change the  Registrant's  principal  accountants
was approved by the Registrant's Board of Directors on July 23, 1999.

         The reports of PwC on the  Registrant's  financial  statements  for the
past two fiscal  years  ended  October  31,  1997,  and October 31, 1998 did not
contain an adverse opinion or disclaimer of opinion,  nor were they qualified or
modified as to uncertainty, audit scope, or accounting principles.

         During the  Registrant's  last two fiscal years ended October 31, 1997,
and October 31, 1998, and in the  subsequent  interim  periods  through July 27,
1999,  there  were  no  disagreements  with  PwC on  any  matter  of  accounting
principles or practices,  financial statement  disclosure,  or auditing scope or
procedure,  which  disagreements,  if not resolved to the  satisfaction  of PwC,
would  have  caused  it  to  make   reference  to  the  subject  matter  of  the
disagreements  in connection  with its reports on the financial  statements  for
such periods.

         PricewaterhouseCoopers  has not informed the Company of any  reportable
events during the Registrant's last two fiscal years ended October 31, 1997, and
1998 and in subsequent interim periods through July 27, 1999.

         The  Registrant  has provided PwC with a copy of the  disclosures  made
herein and has requested PwC to furnish a letter addressed to the Securities and
Exchange Commission stating whether it agrees with the above statements.  A copy
of this letter dated July 27, 1999 is filed as Exhibit 99.1 to this Form 8-K.





















                                       2

<PAGE>




                                   SIGNATURES


         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  Registrant  has duly  caused  this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                                  CTI Industries Corporation
                                                           (Registrant)

Date:   July 27, 1999                      By:    /s/ Howard W. Schwan
                                                  -----------------------------
                                                  Howard W. Schwan, President











































                                       3

<PAGE>




                                  EXHIBIT INDEX




Sequential           Exhibit
Page Number          Number           Document
- -----------          ------           --------

    5                 99.1            Letter From PricewaterhouseCoopers, LLP












































                                       4

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<DESCRIPTION>LETTER FROM PRICEWATERHOUSECOOPERS,  LLP
<TEXT>





                                                                    Exhibit 99.1




July 27, 1999


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

Commissioners:

We have read the statements made by CTI Industries  Corporation  (the "Company")
(copy attached), which we understand will be filed with the Commission, pursuant
to Item 4 of Form 8-K, as part of the Company's  Form 8-K  report dated July 27,
1999. We agree with the statements  concerning our firm,  except we are not in a
position to agree or disagree with Company's statements that:


         1.       Effective  July 27, 1999,  the Company  engaged Grant Thornton
                  LLP as the Registrant's principal account.

         2.       The decision to change accounts was approved on July 23, 1999.






Very truly yours,

/s/PricewaterhouseCoopers, LLP






















                                       5
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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