<SUBMISSION>
<ACCESSION-NUMBER>0001181431-02-001637
<TYPE>4
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20021031
<FILING-DATE>20021104
<REPORTING-OWNER>
<COMPANY-DATA>
<CONFORMED-NAME>RUSSELL STEPHEN
<CIK>0001023971
<RELATIONSHIP>OFFICER
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>4
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>ONE CELAPHON DRIVE
<CITY>INDIANAPOLIS
<STATE>IN
<ZIP>46236-4207
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>ONE CELAPHON DRIVE
<CITY>INDIANAPOLIS
<STATE>IN
<ZIP>46236-4207
</MAIL-ADDRESS>
</REPORTING-OWNER>
<SUBJECT-COMPANY>
<COMPANY-DATA>
<CONFORMED-NAME>CELADON GROUP INC
<CIK>0000865941
<ASSIGNED-SIC>4213
<IRS-NUMBER>133361050
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>0630
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>4
<ACT>34
<FILE-NUMBER>000-23192
<FILM-NUMBER>02808520
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>ONE CELADON DR
<CITY>INDIANAPOLIS
<STATE>IN
<ZIP>46236-4207
<PHONE>2129774447
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>ONE CELADON DRIVE
<CITY>INDIIANAPOLIS
<STATE>IN
<ZIP>46236-4207
</MAIL-ADDRESS>
</SUBJECT-COMPANY>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd1710.htm
<DESCRIPTION>FORM 4
<TEXT>

<HTML>
<HEAD>
<TITLE>
</TITLE>
</HEAD>
<BODY>
SEC Form 4
<TABLE width=100% border=1 cellspacing=0 cellpadding=4>
<TR>
<TD width=254 valign=top>
    <div align=center><font size=4 face=arial,helvetica><b>FORM 4</b></font></div>
    <br><div><font size=1 face=arial,helvetica><b>[&nbsp;&nbsp;] Check this box if no longer<br>subject to Section 16.  Form 4 or Form<br>5 obligations may continue.<br>See Instruction 1(b).</b></font></div>
</TD>
<TD width=764 valign=middle align=center>
    <font face=arial,helvetica><b>UNITED STATES SECURITIES AND EXCHANGE COMMISSION</b></font><br>
    <font size=1 face=arial,helvetica><b>Washington, D.C.&nbsp;&nbsp;20549</b></font><br><br>
    <font size=2 face=arial,helvetica><b>STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP</b></font><br><br>
    <font size=1 face=arial,helvetica>Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility</font><br>
    <font size=1 face=arial,helvetica>Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940</font><br>
</TD>
<TD width=254 valign=top>
    <div align=center><font size=1 face=arial,helvetica>OMB APPROVAL</font></div>
    <br><div align=center><hr width=98%></div><br>
    <div><font size=1 face=arial,helvetica>OMB Number: 3235-0287</font></div>
    <div><font size=1 face=arial,helvetica>Expires: January 31, 2005<br>Estimated average burden<br>hours per response. . . . . 0.5</font></div>
</TD>
</TR>

</TABLE>

<TABLE width=100% border=1 cellspacing=0 cellpadding=4>

<TR>
<TD width=446 valign=top>
    <div><font size=1 face=arial,helvetica>1. Name and Address of Reporting Person<sup>*</sup></font></div>
    <div><font size=1 face=arial,helvetica><b>Russell, Stephen</b></font></div>
    <div align=center><hr width=98%></div>
    <div align=center><font size=1 face=arial,helvetica>(Last) &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;(First) &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;(Middle)</font></div>
    <div><font size=1 face=arial,helvetica><b>One Celadon Drive</b></font></div>
    <div><font size=1 face=arial,helvetica><b></b></font></div>
    <div align=center><hr width=98%></div>
    <div align=center><font size=1 face=arial,helvetica>(Street)</font></div>
    <div><font size=1 face=arial,helvetica><b>Indianapolis,&nbsp; &nbsp; IN&nbsp; &nbsp;46235</b></font></div>
    <div align=center><hr width=98%></div>
    <div align=center><font size=1 face=arial,helvetica>(City) &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;(State) &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;(Zip)</font></div>
    <br>
</TD>
<TD width=254 valign=top>
    <div><font size=1 face=arial,helvetica>2. Issuer Name<BR> and Ticker or Trading Symbol</font></div><br>
    <div><font size=1 face=arial,helvetica><b>Celadon Group, Inc.<BR>CLDN</b></font></div>
    <div align=center><hr width=98%></div>
    <div><font size=1 face=arial,helvetica>3. I.R.S. Identification<br>&nbsp;&nbsp;&nbsp;&nbsp;Number of Reporting<br>&nbsp;&nbsp;&nbsp;&nbsp;Person, if an entity<br>&nbsp;&nbsp;&nbsp;&nbsp;(voluntary)</font></div>
    <div><font size=1 face=arial,helvetica><b>13336105</b></font></div>
</TD>
<TD width=190 valign=top>
    <div><font size=1 face=arial,helvetica>4. Statement for<br>&nbsp;&nbsp;&nbsp;&nbsp;Month/Day/Year</font></div><br>
    <div><font size=1 face=arial,helvetica><b>October, 2002</b></font></div>
    <br><div align=center><hr width=98%></div>
    <div><font size=1 face=arial,helvetica>5. If Amendment,<BR>&nbsp;&nbsp;&nbsp;&nbsp;Date of Original<br>&nbsp;&nbsp;&nbsp;&nbsp;(Month/Day/Year)</font></div><br>
    <div><font size=1 face=arial,helvetica><b></b></font></div>
</TD>
<TD width=382 valign=top>
    <div><font size=1 face=arial,helvetica>6. Relationship of Reporting Person(s) to Issuer</font></div>
    <div align=center><font size=1 face=arial,helvetica>(Check all applicable)</font></div><br>
    <div><font size=1 face=arial,helvetica><u>X</u> Director &nbsp;
    <u>&nbsp;&nbsp;</u> 10% Owner</font></div>
    <div><font size=1 face=arial,helvetica><u>X</u> Officer (give title below) &nbsp; &nbsp;
    <u>&nbsp;&nbsp;</u> Other (specify below)</font></div>
    <br>
    <div><font size=1 face=arial,helvetica>Description &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
    <b><u>Chief Executive Officer</u></b></font></div>
    <div align=center><hr width=98%></div>
    <div><font size=1 face=arial,helvetica>7. Individual or Joint/Group<br> &nbsp; &nbsp; Filing (Check Applicable Line)</font></div>
    <br><div><font size=1 face=arial,helvetica><u>X</u> &nbsp; Form filed by One Reporting Person</font></div>
    <div><font size=1 face=arial,helvetica><u>&nbsp;&nbsp;</u> &nbsp; Form filed by More than One Reporting Person</font></div>
</TD>
</TR>
</TABLE>
<BR>
<TABLE width=100% border=1 cellspacing=0 cellpadding=4>
<TR>
<TD width=100% valign=top colspan=16>
    <div align=center><font size=1 face=arial,helvetica><b>Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned</b></font></div>
</TD>
</TR>

<TR>
<TD width=280 valign=top rowspan=2>
    <div><font size=1 face=arial,helvetica>1. Title of Security<br>&nbsp;&nbsp;&nbsp;&nbsp;(Instr. 3)</font></div><br>
</TD>

<TD width=64 valign=top rowspan=2>
    <div><font size=1 face=arial,helvetica>2.Transaction<BR>Date<br>(Month/Day/Year)</font></div>
</TD>
<TD width=64 valign=top rowspan=2>
    <div><font size=1 face=arial,helvetica>2A. Deemed Execution Date, if any<br>(Month/Day/Year)</font></div>
</TD>
<TD width=100 valign=top colspan=2>
    <font size=1 face=arial,helvetica>3. Transaction<br>&nbsp;&nbsp;&nbsp;&nbsp;Code<br>&nbsp;&nbsp;&nbsp;&nbsp;(Instr. 8)</font>

</TD>
<TD width=320 valign=top colspan=3>
    <font size=1 face=arial,helvetica>4. Securities Acquired (A) or Disposed Of (D)<br>&nbsp;&nbsp;&nbsp;&nbsp;(Instr. 3, 4, and 5)</font>

</TD>
<TD width=140 valign=top rowspan=2>
    <div><font size=1 face=arial,helvetica>5. Amount of<br>&nbsp;&nbsp;&nbsp;&nbsp;Securities<br>&nbsp;&nbsp;&nbsp;&nbsp;Beneficially<br>&nbsp;&nbsp;&nbsp;&nbsp;Owned Following<br>&nbsp;&nbsp;&nbsp;&nbsp;Reported Transaction(s)<br><br>&nbsp;&nbsp;&nbsp;&nbsp;(Instr. 3 and 4)</font></div>
</TD>
<TD width=114 valign=top rowspan=2>
    <div><font size=1 face=arial,helvetica>6. Owner-<br>&nbsp;&nbsp;&nbsp;&nbsp;ship<br>&nbsp;&nbsp;&nbsp;&nbsp;Form:<br>&nbsp;&nbsp;&nbsp;&nbsp;Direct (D)<br>&nbsp;&nbsp;&nbsp;&nbsp;or<br>&nbsp;&nbsp;&nbsp;&nbsp;Indirect (I)<br><br>&nbsp;&nbsp;&nbsp;&nbsp;(Instr. 4)</font></div>
</TD>
<TD width=190 valign=top rowspan=2>
    <div><font size=1 face=arial,helvetica>7. Nature of<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beneficial<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ownership<br><br>&nbsp;&nbsp;&nbsp;&nbsp;(Instr. 4)</font></div>
</TD>
</TR>
<TR>
<TD>
 <div align=center><font size=1 face=arial,helvetica>Code</font></div>
 </TD>
 <TD>
  <div align=center><font size=1 face=arial,helvetica>V</font></div>
  </TD>
  <TD>
  <div align=center><font size=1 face=arial,helvetica>Amount</font></div>
  </TD>
  <TD>
  <div align=center><font size=1 face=arial,helvetica>A/D</font></div>
  </TD>
  <TD>
  <div align=center><font size=1 face=arial,helvetica>Price</font></div>
  </TD>
  </TR>


	<TR>
		<TD width=280 align=left>
		    <div><font size=1 face=arial,helvetica><b>Common Stock</b></font></div>
		</TD>
		<TD width=64 align=center>
		    <div><font size=1 face=arial,helvetica><b>10/31/02</b></font></div>
		</TD>
		<TD width=64 align=center>
		    <div><font size=1 face=arial,helvetica><b></b></font></div>
		</TD>
		<TD width=100>
			<div align=center><font size=1 face=arial,helvetica><b>P</b></font></div>
		</TD>
		<TD width=100>
			<div align=center><font size=1 face=arial,helvetica><b></b></font></div>
		</TD>

		<TD width=320>
			<div align=center><font size=1 face=arial,helvetica><b>16,100</b></font></div>
		</TD>
			<TD width=320>
			<div align=center><font size=1 face=arial,helvetica><b>A</b></font></div>
		</TD>
			<TD width=320>
			<div align=center><font size=1 face=arial,helvetica><b>$8.48</b></font></div>
		</TD>
		<TD width=140 align=center>
			<div align=center><font size=1 face=arial,helvetica><b>764,904</b></font></div>
		</TD>
		<TD width=114 align=center>
			<div align=center><font size=1 face=arial,helvetica><b>D</b></font></div>
		</TD>
		<TD width=190 align=left>
			<div><font size=1 face=arial,helvetica><b></b></font></div>
	</TD>
	</TR>


	<TR>
		<TD width=280 align=left>
		    <div><font size=1 face=arial,helvetica><b></b></font></div>
		</TD>
		<TD width=64 align=center>
		    <div><font size=1 face=arial,helvetica><b></b></font></div>
		</TD>
		<TD width=64 align=center>
		    <div><font size=1 face=arial,helvetica><b></b></font></div>
		</TD>
		<TD width=100>
			<div align=center><font size=1 face=arial,helvetica><b></b></font></div>
		</TD>
		<TD width=100>
			<div align=center><font size=1 face=arial,helvetica><b></b></font></div>
		</TD>

		<TD width=320>
			<div align=center><font size=1 face=arial,helvetica><b></b></font></div>
		</TD>
			<TD width=320>
			<div align=center><font size=1 face=arial,helvetica><b></b></font></div>
		</TD>
			<TD width=320>
			<div align=center><font size=1 face=arial,helvetica><b></b></font></div>
		</TD>
		<TD width=140 align=center>
			<div align=center><font size=1 face=arial,helvetica><b>32,000</b></font></div>
		</TD>
		<TD width=114 align=center>
			<div align=center><font size=1 face=arial,helvetica><b>I</b></font></div>
		</TD>
		<TD width=190 align=left>
			<div><font size=1 face=arial,helvetica><b>By wife</b></font></div>
	</TD>
	</TR>


</TABLE>

<TABLE width=100% border=1 cellspacing=0 cellpadding=4>
<TR>
<TD width=100% valign=top colspan=16>
    <div align=center><font size=1 face=arial,helvetica><b>Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned</b></font></div>
    <div align=center><font size=1 face=arial,helvetica><b>(e.g., puts, calls, warrants, options, convertible securities)</b></font></div>
</TD>
</TR>

<TR>
<TD width=102 valign=top rowspan=2>
    <div><font size=1 face=arial,helvetica>1. Title of Derivative Security<br>&nbsp;&nbsp;&nbsp;&nbsp;(Instr. 3)</font></div>
</TD>
<TD width=76 valign=top rowspan=2>
    <div><font size=1 face=arial,helvetica>2. Conver-<br>&nbsp;&nbsp;&nbsp;&nbsp;sion or<br>&nbsp;&nbsp;&nbsp;&nbsp;Exercise<br>&nbsp;&nbsp;&nbsp;&nbsp;Price of<br>&nbsp;&nbsp;&nbsp;&nbsp;Deri-<br>&nbsp;&nbsp;&nbsp;&nbsp;vative<br>&nbsp;&nbsp;&nbsp;&nbsp;Security</font></div>
</TD>
<TD width=76 valign=top rowspan=2>
    <div><font size=1 face=arial,helvetica>3. Transaction Date<br><br>(Month/<BR>Day/<BR>Year)</font></div>
</TD>
<TD width=76 valign=top rowspan=2>
    <div><font size=1 face=arial,helvetica>3A. Deemed Execution Date, if any
<br><br>(Month/<BR>Day/<BR>Year)</font></div>
</TD>
<TD width=78 valign=top colspan=2>
    <font size=1 face=arial,helvetica>4. Transaction Code</font><br>
    <font size=1 face=arial,helvetica>&nbsp;&nbsp;&nbsp;&nbsp;(Instr.8)</font>


</TD>
<TD width=160 valign=top colspan=2>
    <font size=1 face=arial,helvetica>5. Number of Derivative<br>&nbsp;&nbsp;&nbsp;&nbsp;Securities Acquired (A)<br>&nbsp;&nbsp;&nbsp;&nbsp;or Disposed Of (D)<br><br>&nbsp;&nbsp;&nbsp;&nbsp;(Instr. 3, 4 and 5)



</TD>
<TD width=162 valign=top colspan=2>
    <div><font size=1 face=arial,helvetica>6. Date Exercisable(DE) and<br>&nbsp;&nbsp;&nbsp;&nbsp;Expiration Date(ED)<br>&nbsp;&nbsp;&nbsp;&nbsp;(Month/Day/Year)</font></div>


</TD>
<TD width=186 valign=top colspan=2>
    <div><font size=1 face=arial,helvetica>7. Title and Amount of<br>&nbsp;&nbsp;&nbsp;&nbsp;Underlying Securities<br>&nbsp;&nbsp;&nbsp;&nbsp;(Instr. 3 and 4)</font></div>


</TD>
<TD width=76 valign=top rowspan=2>
    <div><font size=1 face=arial,helvetica>8. Price<br>&nbsp;&nbsp;&nbsp;&nbsp;of<br>&nbsp;&nbsp;&nbsp;&nbsp;Derivative<br>&nbsp;&nbsp;&nbsp;&nbsp;Security<br>&nbsp;&nbsp;&nbsp;&nbsp;(Instr.5)</font></div>
</TD>
<TD width=102 valign=top rowspan=2>
    <font size=1 face=arial,helvetica>9. Number of<br>&nbsp;&nbsp;&nbsp;&nbsp;Derivative<br>&nbsp;&nbsp;&nbsp;&nbsp;Securities<br>&nbsp;&nbsp;&nbsp;&nbsp;Beneficially<br>&nbsp;&nbsp;&nbsp;&nbsp;Owned<br>&nbsp;&nbsp;&nbsp;&nbsp;Following<br>&nbsp;&nbsp;&nbsp;&nbsp;Reported<br>&nbsp;&nbsp;&nbsp;&nbsp;Transaction(s)<br>&nbsp;&nbsp;&nbsp;&nbsp;(Instr.4)</font>
</TD>
<TD width=50 valign=top rowspan=2>
    <font size=1 face=arial,helvetica>10. Owner-<br>ship<br>Form of<br>Deriv-<br>ative<br>Securities:<BR>Direct (D)<br>or<BR>Indirect (I)<br><BR>(Instr.4)</font>
</TD>
<TD width=128 valign=top rowspan=2>
    <font size=1 face=arial,helvetica>11. Nature of<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beneficial<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ownership<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Instr.4)</font>
</TD>
</TR>
<TR>
<TD valign=bottom>
<div align=center><font size=1 face=arial,helvetica>Code</font></div>
</TD>
<TD valign=bottom>
<div align=center><font size=1 face=arial,helvetica>V</font></div>
<TD valign=bottom>
<div align=center><font size=1 face=arial,helvetica>A</font></div>
</TD>
<TD valign=bottom>
<div align=center><font size=1 face=arial,helvetica>D</font>
<TD valign=bottom>
<div align=center><font size=1 face=arial,helvetica>DE</font></div>
</TD>
<TD valign=bottom>
<div align=center><font size=1 face=arial,helvetica>ED</font></div>
</TD>
<TD valign=bottom>
<div align=center><font size=1 face=arial,helvetica>Title</font></div>
</TD>
<TD valign=bottom>
<div align=center><font size=1 face=arial,helvetica>Amount or Number of Shares</font></div>
</TD>

</TR>







<TR>
<TD width=102 align=left>
<font size=1 face=arial,helvetica><b>Employee Stock Option (Right to Buy)</b></font>
</TD>
<TD width=76 align=left>
<font size=1 face=arial,helvetica><b>$13,625</b></font>
</TD>
<TD width=76 align=center>
<font size=1 face=arial,helvetica><b>6/20/95</b></font>
</TD>
<TD width=76 align=center>
<font size=1 face=arial,helvetica><b></b></font>
</TD>
<TD width=100 align=center>
<div><font size=1 face=arial,helvetica><b></b></font></div>
</TD>
<TD width=100 align=center>
<div><font size=1 face=arial,helvetica><b><b></b></font></div>
</TD>
<TD width=160 align=center>
 <font size=1 face=arial,helvetica><b>25,000</b></font>
</TD>
<TD width=160 align=center>
 <font size=1 face=arial,helvetica><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b></font>
</TD>
<TD width=170 align=center>
    <div><font size=1 face=arial,helvetica><b>6/20/05</b></font></div>
</TD>
<TD width=170 align=center>
    <div><font size=1 face=arial,helvetica><b></b></font></div>
</TD>
<TD width=186 align=center>
<div><font size=1 face=arial,helvetica><b>Common Stock</b></font></div>
</TD>
<TD width=186 align=center>
<div><font size=1 face=arial,helvetica><b>25,000</b></font></div>
</TD>
<TD width=76 align=left>
<div><font size=1 face=arial,helvetica><b></b></font></div>
</TD>
<TD width=102 align=center>
<div><font size=1 face=arial,helvetica><b>25,000</b></font></div>
</TD>
<TD width=50 align=center>
<div align=center><font size=1 face=arial,helvetica><b>D</b></font></div>
</TD>
<TD width=128 align=left>
<font size=1 face=arial,helvetica><b></b></font>
</TD>
</TR>






<TR>
<TD width=102 align=left>
<font size=1 face=arial,helvetica><b></b></font>
</TD>
<TD width=76 align=left>
<font size=1 face=arial,helvetica><b>$10.00</b></font>
</TD>
<TD width=76 align=center>
<font size=1 face=arial,helvetica><b>3/7/96</b></font>
</TD>
<TD width=76 align=center>
<font size=1 face=arial,helvetica><b></b></font>
</TD>
<TD width=100 align=center>
<div><font size=1 face=arial,helvetica><b></b></font></div>
</TD>
<TD width=100 align=center>
<div><font size=1 face=arial,helvetica><b><b></b></font></div>
</TD>
<TD width=160 align=center>
 <font size=1 face=arial,helvetica><b>20,000</b></font>
</TD>
<TD width=160 align=center>
 <font size=1 face=arial,helvetica><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b></font>
</TD>
<TD width=170 align=center>
    <div><font size=1 face=arial,helvetica><b>3/7/06</b></font></div>
</TD>
<TD width=170 align=center>
    <div><font size=1 face=arial,helvetica><b></b></font></div>
</TD>
<TD width=186 align=center>
<div><font size=1 face=arial,helvetica><b>Common Stock</b></font></div>
</TD>
<TD width=186 align=center>
<div><font size=1 face=arial,helvetica><b>20,000</b></font></div>
</TD>
<TD width=76 align=left>
<div><font size=1 face=arial,helvetica><b></b></font></div>
</TD>
<TD width=102 align=center>
<div><font size=1 face=arial,helvetica><b>20,000</b></font></div>
</TD>
<TD width=50 align=center>
<div align=center><font size=1 face=arial,helvetica><b>D</b></font></div>
</TD>
<TD width=128 align=left>
<font size=1 face=arial,helvetica><b></b></font>
</TD>
</TR>






<TR>
<TD width=102 align=left>
<font size=1 face=arial,helvetica><b></b></font>
</TD>
<TD width=76 align=left>
<font size=1 face=arial,helvetica><b>$12.00</b></font>
</TD>
<TD width=76 align=center>
<font size=1 face=arial,helvetica><b>8/1/97</b></font>
</TD>
<TD width=76 align=center>
<font size=1 face=arial,helvetica><b></b></font>
</TD>
<TD width=100 align=center>
<div><font size=1 face=arial,helvetica><b></b></font></div>
</TD>
<TD width=100 align=center>
<div><font size=1 face=arial,helvetica><b><b></b></font></div>
</TD>
<TD width=160 align=center>
 <font size=1 face=arial,helvetica><b>25,000</b></font>
</TD>
<TD width=160 align=center>
 <font size=1 face=arial,helvetica><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b></font>
</TD>
<TD width=170 align=center>
    <div><font size=1 face=arial,helvetica><b>8/1/07</b></font></div>
</TD>
<TD width=170 align=center>
    <div><font size=1 face=arial,helvetica><b></b></font></div>
</TD>
<TD width=186 align=center>
<div><font size=1 face=arial,helvetica><b>Common Stock</b></font></div>
</TD>
<TD width=186 align=center>
<div><font size=1 face=arial,helvetica><b>25,000</b></font></div>
</TD>
<TD width=76 align=left>
<div><font size=1 face=arial,helvetica><b></b></font></div>
</TD>
<TD width=102 align=center>
<div><font size=1 face=arial,helvetica><b>25,000</b></font></div>
</TD>
<TD width=50 align=center>
<div align=center><font size=1 face=arial,helvetica><b>D</b></font></div>
</TD>
<TD width=128 align=left>
<font size=1 face=arial,helvetica><b></b></font>
</TD>
</TR>






<TR>
<TD width=102 align=left>
<font size=1 face=arial,helvetica><b></b></font>
</TD>
<TD width=76 align=left>
<font size=1 face=arial,helvetica><b>$6.125</b></font>
</TD>
<TD width=76 align=center>
<font size=1 face=arial,helvetica><b>12/7/99</b></font>
</TD>
<TD width=76 align=center>
<font size=1 face=arial,helvetica><b></b></font>
</TD>
<TD width=100 align=center>
<div><font size=1 face=arial,helvetica><b></b></font></div>
</TD>
<TD width=100 align=center>
<div><font size=1 face=arial,helvetica><b><b></b></font></div>
</TD>
<TD width=160 align=center>
 <font size=1 face=arial,helvetica><b>20,000</b></font>
</TD>
<TD width=160 align=center>
 <font size=1 face=arial,helvetica><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b></font>
</TD>
<TD width=170 align=center>
    <div><font size=1 face=arial,helvetica><b>12/7/09</b></font></div>
</TD>
<TD width=170 align=center>
    <div><font size=1 face=arial,helvetica><b></b></font></div>
</TD>
<TD width=186 align=center>
<div><font size=1 face=arial,helvetica><b>Common Stock</b></font></div>
</TD>
<TD width=186 align=center>
<div><font size=1 face=arial,helvetica><b>20,000</b></font></div>
</TD>
<TD width=76 align=left>
<div><font size=1 face=arial,helvetica><b></b></font></div>
</TD>
<TD width=102 align=center>
<div><font size=1 face=arial,helvetica><b>20,000</b></font></div>
</TD>
<TD width=50 align=center>
<div align=center><font size=1 face=arial,helvetica><b>D</b></font></div>
</TD>
<TD width=128 align=left>
<font size=1 face=arial,helvetica><b></b></font>
</TD>
</TR>






<TR>
<TD width=102 align=left>
<font size=1 face=arial,helvetica><b></b></font>
</TD>
<TD width=76 align=left>
<font size=1 face=arial,helvetica><b>$3.11</b></font>
</TD>
<TD width=76 align=center>
<font size=1 face=arial,helvetica><b>4/13/01</b></font>
</TD>
<TD width=76 align=center>
<font size=1 face=arial,helvetica><b></b></font>
</TD>
<TD width=100 align=center>
<div><font size=1 face=arial,helvetica><b></b></font></div>
</TD>
<TD width=100 align=center>
<div><font size=1 face=arial,helvetica><b><b></b></font></div>
</TD>
<TD width=160 align=center>
 <font size=1 face=arial,helvetica><b>75,000</b></font>
</TD>
<TD width=160 align=center>
 <font size=1 face=arial,helvetica><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b></font>
</TD>
<TD width=170 align=center>
    <div><font size=1 face=arial,helvetica><b>4/13/11</b></font></div>
</TD>
<TD width=170 align=center>
    <div><font size=1 face=arial,helvetica><b></b></font></div>
</TD>
<TD width=186 align=center>
<div><font size=1 face=arial,helvetica><b>Common Stock</b></font></div>
</TD>
<TD width=186 align=center>
<div><font size=1 face=arial,helvetica><b>75,000</b></font></div>
</TD>
<TD width=76 align=left>
<div><font size=1 face=arial,helvetica><b></b></font></div>
</TD>
<TD width=102 align=center>
<div><font size=1 face=arial,helvetica><b>75,000</b></font></div>
</TD>
<TD width=50 align=center>
<div align=center><font size=1 face=arial,helvetica><b>D</b></font></div>
</TD>
<TD width=128 align=left>
<font size=1 face=arial,helvetica><b></b></font>
</TD>
</TR>






<TR>
<TD width=102 align=left>
<font size=1 face=arial,helvetica><b></b></font>
</TD>
<TD width=76 align=left>
<font size=1 face=arial,helvetica><b>$6.41</b></font>
</TD>
<TD width=76 align=center>
<font size=1 face=arial,helvetica><b>4/4/02</b></font>
</TD>
<TD width=76 align=center>
<font size=1 face=arial,helvetica><b></b></font>
</TD>
<TD width=100 align=center>
<div><font size=1 face=arial,helvetica><b></b></font></div>
</TD>
<TD width=100 align=center>
<div><font size=1 face=arial,helvetica><b><b></b></font></div>
</TD>
<TD width=160 align=center>
 <font size=1 face=arial,helvetica><b>75,000</b></font>
</TD>
<TD width=160 align=center>
 <font size=1 face=arial,helvetica><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b></font>
</TD>
<TD width=170 align=center>
    <div><font size=1 face=arial,helvetica><b>4/4/12</b></font></div>
</TD>
<TD width=170 align=center>
    <div><font size=1 face=arial,helvetica><b></b></font></div>
</TD>
<TD width=186 align=center>
<div><font size=1 face=arial,helvetica><b>Common Stock</b></font></div>
</TD>
<TD width=186 align=center>
<div><font size=1 face=arial,helvetica><b>75,000</b></font></div>
</TD>
<TD width=76 align=left>
<div><font size=1 face=arial,helvetica><b></b></font></div>
</TD>
<TD width=102 align=center>
<div><font size=1 face=arial,helvetica><b>75,000</b></font></div>
</TD>
<TD width=50 align=center>
<div align=center><font size=1 face=arial,helvetica><b>D</b></font></div>
</TD>
<TD width=128 align=left>
<font size=1 face=arial,helvetica><b></b></font>
</TD>
</TR>




   <BR>

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<font size=1 face=arial,helvetica><B>Explanation of Responses:</B> </font><br>

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    <TD width=100% align=right><font face=arial,helvetica><b>&nbsp;</b></font><br>
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<TD width=1272>

    <div>Explanation of Responses:<p>(1)  Options for 8,334,  8,333 and 8,333 shares became  exercisable  on 6/20/96,<br>&nbsp;&nbsp;&nbsp;  6/20/97 and 6/20/98, respectively.<p>(2)  Options for 6,667,  6,667 and 6,666 shares  became  exercisable  on 3/7/97,<br>&nbsp;&nbsp;&nbsp;  3/7/98 and 3/7/99, respectively.<p>(3)  Options for 8,334,  8,333 and 8,333 shares  became  exercisable  on 8/1/98,<br>&nbsp;&nbsp;&nbsp;  8/1/99 and 8/1/00, respectively.<p>(4)  Options  for 6,667  shares  became  exercisable  on 12/7/00 and options for<br>&nbsp;&nbsp;&nbsp;  6,667  and  6,666  will  become&nbsp;&nbsp;&nbsp;exercisable&nbsp;&nbsp;&nbsp;on  12/7/01  and&nbsp;&nbsp;&nbsp;12/7/02,<br>&nbsp;&nbsp;&nbsp;  respectively.<p>(5)  Options  will become  exercisable  the earlier of the date that the closing<br>&nbsp;&nbsp;&nbsp;  price for the  Companys  stock  exceeds  $6.22 per share or the third<br>&nbsp;&nbsp;&nbsp;  anniversary of the date of grant.<p>(6)  Options for 25,000,  25,000,  and 25,000 shares will become  exercisable on<br>&nbsp;&nbsp;&nbsp;  4/4/03, 4/4/04, and 4/4/05, respectively.<p>***Intentional misstatements or omissions of facts constitute Federal Criminal Violations.<br>See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).<br>Note:&nbsp;&nbsp;&nbsp;File three copies of this Form, one of which must be manually signed.<br>If space provided is insufficient, see Instruction 6 for procedure.<br></div>
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<TD width=40% valign=top>
    <font size=1 face=arial,helvetica><b>By: </b><br><U>/s/ Stephen Russell</U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>11/4/2002</U>
<br>** Signature of Reporting Person &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Date &nbsp; &nbsp; &nbsp;</font><br><br><font size=1 face=arial,helvetica><b></b></font><br><br>
    <div align=right><font size=1 face=arial,helvetica><br>SEC 1474 (8-02)</font></div>
</TD>
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<TR>
<TD width=60% valign=top>
    <font size=1 face=arial,helvetica>Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.<BR><BR>
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).<BR>
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).<BR>
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
<BR>
Potential persons who are to respond to the collection of information contained in this form are not<BR>
required to respond unless the form displays a currently valid OMB Number.

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