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)              September 26, 2002
                                                              ------------------


                                  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)




<PAGE>
Item 5.  Other Events.

     See press  release of the  registrant  dated  September  26, 2002  attached
hereto.

     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:  September 27, 2002                       CERBCO, Inc.
                                                --------------------------------
                                                (Registrant)



                                                By:/s/ Robert W. Erikson
                                                --------------------------------
                                                Robert W. Erikson
                                                President
<PAGE>


                                                                  PRESS RELEASE
                                                          For Immediate Release



                       CERBCO REPORTS RESULTS FOR FY 2002

     LANDOVER,  MD,  September 26, 2002 - CERBCO,  Inc.  [OTC:  CERB] reported a
consolidated  net  loss of  -$1,436,449  (-$0.97  per  share)  on sales of $18.2
million for the fiscal year ended June 30, 2002.  In the  previous  fiscal year,
the Company reported a consolidated net loss of -$440,577  (-$0.30 per share) on
sales of $23.2 million.

                         CONSOLIDATED FINANCIAL SUMMARY

<TABLE>
                                                   Three Months Ended June 30             Years Ended June 30
                                                  -------------- --------------      -------------- --------------
<CAPTION>
                                                       2002            2001               2002           2001
                                                       ----            ----               ----           ----

<S>                                                 <C>           <C>                 <C>            <C>
Sales                                               $3,219,037    $ 4,778,690         $18,152,666    $23,206,207
                                                    ===========   ===========         ============   ============

Net Earnings (Loss)                                 $ (683,136)   $   573,631         $(1,436,449)   $  (440,577)
                                                    ===========   ===========         ============   ============

Basic and Diluted Earnings (Loss) per Share         $    (0.46)   $      0.38         $     (0.97)   $     (0.30)
                                                    ===========   ===========         ============   ============

Basic and Diluted  Weighted  Average  Shares
Outstanding                                          1,482,956      1,482,956           1,482,956      1,482,956
</TABLE>

     The Company  attributed its  unfavorable  results for the fiscal year ended
June  30,  2002  primarily  to four  factors:  (1) the  unfavorable  results  of
Insituform East, the Company's majority-controlled subsidiary and only operating
segment,  (2)  significant  decreases in the cash surrender  values of insurance
policies  funding the parent company's  supplemental  retirement plan; (3) costs
incurred in connection with a proposed recapitalization  transaction;  and (4) a
decrease  in  investment  income  resulting  from a decline in  interest  rates.
Insituform  East  recognized a consolidated  net loss of -$1,407,491 on sales of
$18.2 million, which contributed a loss of -$552,739 (39.3%) to CERBCO in fiscal
year 2002. Cash surrender values of the life insurance policies funding CERBCO's
supplemental  retirement  plan decreased  approximately  $467,000 in fiscal year
2002,  primarily due to decreases in the values of the  underlying  investments.
The  Company  incurred  approximately  $458,000  in costs in  connection  with a
proposed  recapitalization  of  CERBCO  in  fiscal  year  2002,  which  proposed
transaction  was  denied  approval  by  insufficient  affirmative  vote  of  the
Company's  Common  Stock  shareholders  in  May  2002.  Interest  earned  on the
Company's  marketable   securities  decreased  $396,000  in  fiscal  year  2002,
primarily  due to a decrease in the average  rate of return on such  investments
from  6.8% in  fiscal  year  2001  to 4.8% in  fiscal  year  2002.

     The Company attributed Insituform East's unfavorable results in fiscal year
2002 almost entirely to operations and activities in the southeast region of the
United States, a marketplace generally served by the Company's Midsouth Partners
subsidiary   outside  of  East's   exclusively   licensed   Insituform   process
territories. As forward-looking  information,  the Company anticipates a reduced
level of immediately workable backlog into the first few quarters of fiscal year
2003.  Insituform East was not the low bidder on renewal work during fiscal year
2002 with its largest Insituform(R) process customer, a county government in the
Washington,  DC metropolitan area, and the loss of such significant work has had
an immediate effect on the Company's workable backlog pending the procurement of
replacement contracts.  Additionally, the Company believes that prevailing price
levels in the southeast region of the United States reflect a current oversupply
of  capacity  in that  marketplace.  To adjust  for these  current  and  forward
anticipated  adverse  business  conditions,  during the fourth quarter of fiscal
year 2002 the Company  implemented  an  indefinite  suspension  of its  Midsouth
Partners  subsidiary  operations and  concurrently  initiated a pre-emptive  and
aggressive   cost  reduction   program  in  its  licensed   Insituform   process
territories.

     The  Company's  total  backlog  value  of all  uncompleted  and  multi-year
contract awards was approximately  $12.2 million at June 30, 2002 as compared to
$15.3 million at June 30, 2001.  The  twelve-month  backlog at June 30, 2002 was
approximately  $5.8 million as compared to $12.0  million at June 30, 2001.  The
total backlog value of all uncompleted and multi-year contracts at June 30, 2002
and 2001 includes work not estimated to be released and installed  within twelve
months,  as well as potential work included in term contract awards which may or
may not be fully ordered by contract expiration.  While potentially helpful as a
possible trend indicator, "total" and "twelve month" backlog figures at specific
dates are not  necessarily  indicative of sales and earnings for future  periods
due to the irregular timing and receipt of major project awards including large,
multi-year,  menu-priced contracts with estimated but uncertain order quantities
further subject to the specifics of individual work releases.  On a week-to-week
and  month-to-month  basis,  the  availability  of often  volatile  "immediately
workable"  backlog most directly affects  productivity,  with such  availability
subject to unpredictable changes such as weather,  customer-initiated delays and
found variances in site conditions.

     In addition to immediately workable backlog, a primary factor affecting the
Company's  future  performance  remains  the  volatility  of  Insituform  East's
earnings as a function of sales volume at normal margins. Accordingly, because a
substantial  portion  of  Insituform  East's  costs are  semi-fixed  in  nature,
earnings  can, at times,  be severely  reduced or eliminated  during  periods of
either  depressed  sales at normal  margins or material  increases in discounted
sales,  even where total revenues may experience an apparent  buoyancy or growth
from the addition of discounted sales undertaken from time to time for strategic
reasons.  Conversely,  at normal  margins,  increases in period sales  typically
leverage positive earnings significantly.

     This  press  release  contains   forward-looking   statements,   which  are
inherently  subject to risks and  uncertainties.  The Company's  future  results
could differ  materially  from those  currently  anticipated  due to a number of
factors, including, without limitation, the availability of immediately workable
backlog,  mix of work,  weather,  changes in interest rates and general economic
conditions,  legislative/regulatory  changes  and  other  factors  set  forth in
reports and  documents  filed by the Company  with the  Securities  and Exchange
Commission from time to time.

     CERBCO,  Inc.  [OTC:CERB]  is a parent  holding  company  with  controlling
interest  in  Insituform  East,  Inc.  [NASDAQ:INEI]  (excavationless  sewer and
pipeline rehabilitation).

                                      * * *
Contact:      Robert W. Erikson                   George Wm. Erikson
              President                           Chairman
              (301) 773-1784                      (301) 773-1784
[{"type": "8-K", "sequence": "1", "filename": "cprfy02.txt", "description": "CERBCO REPORTS FISCAL 2002 RESULTS", "secsgml_size_bytes": 10628}]
{"company-data": {"conformed-name": "CERBCO INC", "cik": "0000826821", "assigned-sic": "1700", "irs-number": "541448835", "state-of-incorporation": "DE", "fiscal-year-end": "0630"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-16749", "film-number": "02774325"}, "business-address": {"street1": "3421 PENNSY DR", "city": "LANDOVER", "state": "MD", "zip": "20785", "phone": "3017731784"}, "mail-address": {"street1": "3421 PENNSY DRIVE", "street2": "3421 PENNSY DRIVE", "city": "LANDOVER", "state": "MD", "zip": "20785"}}
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)              September 26, 2002
                                                              ------------------

                                  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  September  26, 2002  attached
hereto.

     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:  September 27, 2002                       CERBCO, Inc.
                                                --------------------------------
                                                (Registrant)

                                                By:/s/ Robert W. Erikson
                                                --------------------------------
                                                Robert W. Erikson
                                                President
PRESS RELEASE
                                                          For Immediate Release

                       CERBCO REPORTS RESULTS FOR FY 2002

     LANDOVER,  MD,  September 26, 2002 - CERBCO,  Inc.  [OTC:  CERB] reported a
consolidated  net  loss of  -$1,436,449  (-$0.97  per  share)  on sales of $18.2
million for the fiscal year ended June 30, 2002.  In the  previous  fiscal year,
the Company reported a consolidated net loss of -$440,577  (-$0.30 per share) on
sales of $23.2 million.

                         CONSOLIDATED FINANCIAL SUMMARY

                                                   Three Months Ended June 30             Years Ended June 30
                                                  -------------- --------------      -------------- --------------
2002            2001               2002           2001
                                                       ----            ----               ----           ----
Sales                                               $3,219,037    $ 4,778,690         $18,152,666    $23,206,207
                                                    ===========   ===========         ============   ============

Net Earnings (Loss)                                 $ (683,136)   $   573,631         $(1,436,449)   $  (440,577)
                                                    ===========   ===========         ============   ============

Basic and Diluted Earnings (Loss) per Share         $    (0.46)   $      0.38         $     (0.97)   $     (0.30)
                                                    ===========   ===========         ============   ============

Basic and Diluted  Weighted  Average  Shares
Outstanding                                          1,482,956      1,482,956           1,482,956      1,482,956
The Company  attributed its  unfavorable  results for the fiscal year ended
June  30,  2002  primarily  to four  factors:  (1) the  unfavorable  results  of
Insituform East, the Company's majority-controlled subsidiary and only operating
segment,  (2)  significant  decreases in the cash surrender  values of insurance
policies  funding the parent company's  supplemental  retirement plan; (3) costs
incurred in connection with a proposed recapitalization  transaction;  and (4) a
decrease  in  investment  income  resulting  from a decline in  interest  rates.
Insituform  East  recognized a consolidated  net loss of -$1,407,491 on sales of
$18.2 million, which contributed a loss of -$552,739 (39.3%) to CERBCO in fiscal
year 2002. Cash surrender values of the life insurance policies funding CERBCO's
supplemental  retirement  plan decreased  approximately  $467,000 in fiscal year
2002,  primarily due to decreases in the values of the  underlying  investments.
The  Company  incurred  approximately  $458,000  in costs in  connection  with a
proposed  recapitalization  of  CERBCO  in  fiscal  year  2002,  which  proposed
transaction  was  denied  approval  by  insufficient  affirmative  vote  of  the
Company's  Common  Stock  shareholders  in  May  2002.  Interest  earned  on the
Company's  marketable   securities  decreased  $396,000  in  fiscal  year  2002,
primarily  due to a decrease in the average  rate of return on such  investments
from  6.8% in  fiscal  year  2001  to 4.8% in  fiscal  year  2002.

     The Company attributed Insituform East's unfavorable results in fiscal year
2002 almost entirely to operations and activities in the southeast region of the
United States, a marketplace generally served by the Company's Midsouth Partners
subsidiary   outside  of  East's   exclusively   licensed   Insituform   process
territories. As forward-looking  information,  the Company anticipates a reduced
level of immediately workable backlog into the first few quarters of fiscal year
2003.  Insituform East was not the low bidder on renewal work during fiscal year
2002 with its largest Insituform(R) process customer, a county government in the
Washington,  DC metropolitan area, and the loss of such significant work has had
an immediate effect on the Company's workable backlog pending the procurement of
replacement contracts.  Additionally, the Company believes that prevailing price
levels in the southeast region of the United States reflect a current oversupply
of  capacity  in that  marketplace.  To adjust  for these  current  and  forward
anticipated  adverse  business  conditions,  during the fourth quarter of fiscal
year 2002 the Company  implemented  an  indefinite  suspension  of its  Midsouth
Partners  subsidiary  operations and  concurrently  initiated a pre-emptive  and
aggressive   cost  reduction   program  in  its  licensed   Insituform   process
territories.

     The  Company's  total  backlog  value  of all  uncompleted  and  multi-year
contract awards was approximately  $12.2 million at June 30, 2002 as compared to
$15.3 million at June 30, 2001.  The  twelve-month  backlog at June 30, 2002 was
approximately  $5.8 million as compared to $12.0  million at June 30, 2001.  The
total backlog value of all uncompleted and multi-year contracts at June 30, 2002
and 2001 includes work not estimated to be released and installed  within twelve
months,  as well as potential work included in term contract awards which may or
may not be fully ordered by contract expiration.  While potentially helpful as a
possible trend indicator, "total" and "twelve month" backlog figures at specific
dates are not  necessarily  indicative of sales and earnings for future  periods
due to the irregular timing and receipt of major project awards including large,
multi-year,  menu-priced contracts with estimated but uncertain order quantities
further subject to the specifics of individual work releases.  On a week-to-week
and  month-to-month  basis,  the  availability  of often  volatile  "immediately
workable"  backlog most directly affects  productivity,  with such  availability
subject to unpredictable changes such as weather,  customer-initiated delays and
found variances in site conditions.

     In addition to immediately workable backlog, a primary factor affecting the
Company's  future  performance  remains  the  volatility  of  Insituform  East's
earnings as a function of sales volume at normal margins. Accordingly, because a
substantial  portion  of  Insituform  East's  costs are  semi-fixed  in  nature,
earnings  can, at times,  be severely  reduced or eliminated  during  periods of
either  depressed  sales at normal  margins or material  increases in discounted
sales,  even where total revenues may experience an apparent  buoyancy or growth
from the addition of discounted sales undertaken from time to time for strategic
reasons.  Conversely,  at normal  margins,  increases in period sales  typically
leverage positive earnings significantly.

     This  press  release  contains   forward-looking   statements,   which  are
inherently  subject to risks and  uncertainties.  The Company's  future  results
could differ  materially  from those  currently  anticipated  due to a number of
factors, including, without limitation, the availability of immediately workable
backlog,  mix of work,  weather,  changes in interest rates and general economic
conditions,  legislative/regulatory  changes  and  other  factors  set  forth in
reports and  documents  filed by the Company  with the  Securities  and Exchange
Commission from time to time.

     CERBCO,  Inc.  [OTC:CERB]  is a parent  holding  company  with  controlling
interest  in  Insituform  East,  Inc.  [NASDAQ:INEI]  (excavationless  sewer and
pipeline rehabilitation).

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