UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 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)               January 15, 2004
                                                               ----------------


                                  CERBCO, Inc.
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)


                                    Delaware
--------------------------------------------------------------------------------
                 (State or other jurisdiction of incorporation)


 0-16749                                                         54-1448835
--------------------------------------- ----------------------------------------
 (Commission File Number)                    (IRS Employer Identification No.)



 3421 Pennsy Drive, Landover, Maryland                             20785-1608
--------------------------------------- ----------------------------------------
 (Address of principal executive offices)                          (Zip Code)



               Registrant's telephone number including area code:
                              (301) 773-1784 (tel)
                              (301) 322-3041 (fax)


                                      None
--------------------------------------------------------------------------------
          (Former name or former address, if changed since last report)


Item 5.    Other Events.

     See press release of the registrant dated January 15, 2004 attached hereto.



                                   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.

Date: January 15, 2004                  CERBCO, Inc.
                                        ----------------------------------------
                                        (Registrant)


                                         By: /s/ Robert W. Erikson
                                         ---------------------------------------
                                         Robert W. Erikson
                                         President



                                                                  PRESS RELEASE
                                                          For Immediate release


               CERBCO ANNOUNCES COMPLETION OF $5.1 MILLION SALE OF
                  REAL PROPERTY BY SUBSIDIARY INEI CORPORATION

     LANDOVER,  MD,  January  15, 2004 - CERBCO,  Inc.  ("CERBCO")  (OTC:  CERB)
announced that its indirect,  majority controlled  subsidiary,  INEI Corporation
("INEI")  (OTC:  INEI)  completed  the sale of all of INEI's  real  property  in
Landover,  MD to Bohrer's Nest, L.L.C., an affiliate of Atlantic  Transportation
Equipment,  Ltd., of  Beltsville,  MD. The purchase  price of $5.076 million was
paid in cash on January 12, 2004,  less $306,000 in expenses for INEI's  portion
of closing  costs and a continuing  $225,500  remaining in escrow  pending final
clean-up of certain areas of the property.  With the closing of this sale,  INEI
has substantially completed the disposition of all assets used in the trenchless
rehabilitation   of  deteriorated   sewers  and  other   underground   pipelines
principally  using  cured-in-place  pipe  ("CIPP")   rehabilitation   processes,
formerly INEI's sole business segment.  INEI retained certain lease-backs on the
sold property through May 24, 2004, both for continued corporate  administrative
offices and for certain  warehouse space to house the limited number of items of
residual equipment remaining to be sold. As previously announced, the INEI Board
of Directors has preliminarily adopted a plan of dissolution and liquidation for
the INEI  corporation and intends to submit the definitive plan and the proposed
dissolution to a vote of INEI stockholders at the next annual meeting, currently
anticipated to be held during the quarter ending June 30, 2004.

     As also  previously  announced,  the CERBCO Board of Directors has likewise
preliminarily  adopted a plan of  dissolution  and  liquidation  for the  CERBCO
corporation  and  intends  to  submit  the  definitive  plan  and  the  proposed
dissolution to a vote of CERBCO  stockholders at the next annual  meeting,  also
currently anticipated to be held during the quarter ending June 30, 2004.

     Statements  in this press release that are not  historical,  as well as its
future plans,  are  forward-looking  statements,  as that term is defined in the
Private  Securities   Litigation  Reform  Act  of  1995.  These  forward-looking
statements  involve known and unknown risks,  uncertainties  and other important
factors  that are  subject to change at any time and from time to time.  Factors
that could cause actual results or developments to differ  materially from those
described  in or  contemplated  or  implied by such  forward-looking  statements
include,  without  limitation,  the risk  that the  assumptions  upon  which the
forward-looking  statements  are based  ultimately  may prove to be incorrect or
incomplete,  as well as other risks and uncertainties  that are described in the
Company's filings with the Securities and Exchange Commission.

                                      * * *

Contact: Robert W. Erikson.                          George Wm. Erikson
         President                                   Chairman
         (301) 773-1784                              (301) 773-1784
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UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 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)               January 15, 2004
                                                               ----------------

                                  CERBCO, Inc.
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

                                    Delaware
--------------------------------------------------------------------------------
                 (State or other jurisdiction of incorporation)

 0-16749                                                         54-1448835
--------------------------------------- ----------------------------------------
 (Commission File Number)                    (IRS Employer Identification No.)

 3421 Pennsy Drive, Landover, Maryland                             20785-1608
--------------------------------------- ----------------------------------------
 (Address of principal executive offices)                          (Zip Code)

               Registrant's telephone number including area code:
                              (301) 773-1784 (tel)
                              (301) 322-3041 (fax)

                                      None
--------------------------------------------------------------------------------
          (Former name or former address, if changed since last report)

Item 5.    Other Events.

     See press release of the registrant dated January 15, 2004 attached hereto.

                                   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.

Date: January 15, 2004                  CERBCO, Inc.
                                        ----------------------------------------
                                        (Registrant)

                                         By: /s/ Robert W. Erikson
                                         ---------------------------------------
                                         Robert W. Erikson
                                         President

                                                                  PRESS RELEASE
                                                          For Immediate release

               CERBCO ANNOUNCES COMPLETION OF $5.1 MILLION SALE OF
                  REAL PROPERTY BY SUBSIDIARY INEI CORPORATION

     LANDOVER,  MD,  January  15, 2004 - CERBCO,  Inc.  ("CERBCO")  (OTC:  CERB)
announced that its indirect,  majority controlled  subsidiary,  INEI Corporation
("INEI")  (OTC:  INEI)  completed  the sale of all of INEI's  real  property  in
Landover,  MD to Bohrer's Nest, L.L.C., an affiliate of Atlantic  Transportation
Equipment,  Ltd., of  Beltsville,  MD. The purchase  price of $5.076 million was
paid in cash on January 12, 2004,  less $306,000 in expenses for INEI's  portion
of closing  costs and a continuing  $225,500  remaining in escrow  pending final
clean-up of certain areas of the property.  With the closing of this sale,  INEI
has substantially completed the disposition of all assets used in the trenchless
rehabilitation   of  deteriorated   sewers  and  other   underground   pipelines
principally  using  cured-in-place  pipe  ("CIPP")   rehabilitation   processes,
formerly INEI's sole business segment.  INEI retained certain lease-backs on the
sold property through May 24, 2004, both for continued corporate  administrative
offices and for certain  warehouse space to house the limited number of items of
residual equipment remaining to be sold. As previously announced, the INEI Board
of Directors has preliminarily adopted a plan of dissolution and liquidation for
the INEI  corporation and intends to submit the definitive plan and the proposed
dissolution to a vote of INEI stockholders at the next annual meeting, currently
anticipated to be held during the quarter ending June 30, 2004.

     As also  previously  announced,  the CERBCO Board of Directors has likewise
preliminarily  adopted a plan of  dissolution  and  liquidation  for the  CERBCO
corporation  and  intends  to  submit  the  definitive  plan  and  the  proposed
dissolution to a vote of CERBCO  stockholders at the next annual  meeting,  also
currently anticipated to be held during the quarter ending June 30, 2004.

     Statements  in this press release that are not  historical,  as well as its
future plans,  are  forward-looking  statements,  as that term is defined in the
Private  Securities   Litigation  Reform  Act  of  1995.  These  forward-looking
statements  involve known and unknown risks,  uncertainties  and other important
factors  that are  subject to change at any time and from time to time.  Factors
that could cause actual results or developments to differ  materially from those
described  in or  contemplated  or  implied by such  forward-looking  statements
include,  without  limitation,  the risk  that the  assumptions  upon  which the
forward-looking  statements  are based  ultimately  may prove to be incorrect or
incomplete,  as well as other risks and uncertainties  that are described in the
Company's filings with the Securities and Exchange Commission.

                                      * * *

Contact: Robert W. Erikson.                          George Wm. Erikson
         President                                   Chairman
         (301) 773-1784                              (301) 773-1784