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)               November 14, 2003
                                                               -----------------


                                  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 November 14, 2003 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: November 14, 2003                CERBCO, Inc.
                                       ----------------------------------------
                                       (Registrant)


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



<PAGE>



                                                                   PRESS RELEASE
                                                           For Immediate Release

                  CERBCO REPORTS FIRST QUARTER FY 2004 RESULTS

     LANDOVER,  MD,  November 14, 2003 - CERBCO,  Inc.  [OTC:  CERB]  reported a
consolidated loss from continuing operations of -$852,434 (-$0.58 per share) and
consolidated net earnings of $519,370 ($0.35 per share) for the first quarter of
fiscal year 2004. In the first quarter of the previous  fiscal year, the Company
recognized a consolidated  loss from continuing  operations of -$182,670 (-$0.12
per share) and a consolidated net loss of -$293,401 (-$0.20 per share). Sales of
$1,782,882  and   $2,602,127   recognized  by  Insituform   East,   Incorporated
("Insituform   East"),   now   known   as  INEI   Corporation,   the   Company's
majority-controlled  and then only operating segment, for the three months ended
September  30,  2003 and  2002,  respectively,  are  included  in the loss  from
discontinued operations.

<TABLE>
                         CONSOLIDATED FINANCIAL SUMMARY

                                                                  Three Months Ended September 30,
                                                                  --------------------------------
<CAPTION>
                                                                     2003                   2002
                                                                     ----                   ----

<S>                                                               <C>                   <C>
Sales                                                             $        -            $       -
                                                                  ==========           ==========

Loss from Continuing Operations                                   $ (852,434)           $(182,670)

Earnings (Loss) from Discontinued Operations                       1,371,804             (110,731)
                                                                  ----------           ----------

Net Earnings (Loss)                                               $ 519,370             $(293,401)
                                                                  ==========           ==========
Basic and Diluted Earnings (Loss) per Share:

Loss from continuing operations                                    $   (0.58)           $   (0.12)

Earnings (loss) from discontinued operations                            0.93                (0.08)
                                                                  ----------           ----------

Net earnings (loss) per share                                      $    0.35            $   (0.20)
                                                                  ==========           ==========
Basic and Diluted Weighted Average Shares
    Outstanding                                                    1,482,956            1,482,956
</TABLE>



<PAGE>


     The  Company  attributed  its  favorable  results  for  the  quarter  ended
September 30, 2003 to the discontinued operations of Insituform East. Insituform
East  recognized  net  earnings  of  $3,493,155,   contributing   earnings  from
discontinued  operations  of $1,371,804  (39.3%) to the Company,  primarily as a
result of a $5.5 million  sale of  substantially  all of its  business  under an
Asset Sale closed on September  5, 2003.  Insituform  East  recognized a gain of
approximately $5.0 million on the sale.

     Consistent  with the Asset Sale, the Insituform East Board of Directors has
undertaken certain additional  transactions designed to maximize Insituform East
stockholder  value.  In this regard,  on July 24, 2003,  Insituform East entered
into a Real Estate Contract of Sale for the potential sale of its principal real
estate  assets.   Insituform   East  currently   anticipates   that   additional
transactions  will take the form of the  liquidation  of its  remaining  assets,
including the sale or disposition of the assets of Try Tek Machine Works,  Inc.,
a wholly-owned subsidiary of Insituform East, and the satisfaction of Insituform
East's  liabilities,  including  personnel  termination and related costs,  sale
transaction expenses and final liquidation costs.

     After  completion of the Asset Sale,  Insituform  East held as of September
30, 2003:

     o    Two contiguous  parcels of improved real property located in Landover,
          Maryland,  historically  held for the purpose of housing its corporate
          headquarters and cured-in-place  pipe ("CIPP") business operations and
          which are the  subject  of the Real  Estate  Contract  of Sale,  which
          contemplates  the sale of these  properties  for a  combined  price of
          $5,215,000;

     o    One parcel of improved real property located in Hanover, Pennsylvania,
          used to house the business of Try Tek, which custom designs and builds
          machinery,  including  machinery used to rehabilitate  pipelines using
          CIPP processes;

     o    Cash and cash  equivalents  in the  approximate  amount of $2,400,000,
          substantially  all of which represents  residual net proceeds from the
          Asset Sale;

     o    Residual  inventory  and  equipment  not part of the Asset Sale in the
          approximate amount of $1,000,000; and

     o    Accounts receivable in the approximate amount of $1,800,000.

     Insituform  East and,  consequently,  the Company,  has not had any ongoing
operations  subsequent to the Asset Sale, other than those of Try Tek, and those
operations were significantly curtailed after September 30, 2003.

     On September 24, 2003,  the  Insituform  East Board of Directors  concluded
that dissolution of Insituform East, liquidation, and distribution of its assets
would be in the best  interest  of  Insituform  East and its  stockholders.  The
Insituform  East  Board   preliminarily   adopted  a  plan  of  dissolution  and
liquidation  and  intends  to  submit  the  definitive  plan  and  the  proposed
dissolution to a vote of stockholders at Insituform  East's next annual meeting,
currently anticipated to be held during the quarter ending March 31, 2004.

     Likewise,  on September  24, 2003,  the Company's  Board of Directors  also
concluded that dissolution of the Company,  liquidation, and distribution of its
assets would be in the best  interest of the Company and its  stockholders.  The
CERBCO Board also  preliminarily  adopted a plan of dissolution  and liquidation
and intends to submit the definitive plan and proposed  dissolution to a vote of
stockholders at the Company's next annual meeting, also currently anticipated to
be during the quarter ending March 31, 2004.

     This  report  contains  forward-looking  statements  within the  meaning of
Section 27A of the  Securities  Act of 1933, as amended,  and Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking statements that are
based  on  certain  assumptions  and  describe  future  plans,  strategies,  and
expectations  of the  Company  are  generally  identifiable  by use of the words
"believe," "expect," "intend,"  "anticipate,"  "estimate,"  "project" or similar
expressions.  Forward-looking statements such as these involve known and unknown
risks,  uncertainties and other important factors that could cause the Company's
actual  results,  performance  or  achievements,   or  other  subjects  of  such
statements,  to differ materially from the Company's expectations regarding such
matters expressed or implied by such forward-looking  statements.  The Company's
ability to predict results or the actual effect of future plans or strategies is
inherently  uncertain.  Although  the  Company  believes  that the  expectations
reflected in its forward-looking  statements contained herein are reasonable, it
cannot  guarantee  future  events or results.  Except as may be  required  under
federal  law,  the Company  undertakes  no  obligation  to update  publicly  any
forward-looking  statements  for any  reason,  even if new  information  becomes
available or other events occur.

     CERBCO,  Inc.  [OTC:CERB]  is a parent  holding  company  with  controlling
interest in INEI  Corporation  [OTC:INEI]  (formerly  known as Insituform  East,
Incorporated).

                                      * * *
Contact:      Robert W. Erikson                      George Wm. Erikson
              President                              Chairman
              (301) 773-1784                         (301) 773-1784
[{"type": "8-K", "sequence": "1", "filename": "cpr1q04.txt", "description": "CERBCO REPORTS FIRST QUARTER FY 2004 RESULTS", "secsgml_size_bytes": 11207}]
{"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": "031005988"}, "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"}}
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)               November 14, 2003
                                                               -----------------

                                  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 November 14, 2003 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: November 14, 2003                CERBCO, Inc.
                                       ----------------------------------------
                                       (Registrant)

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

                  CERBCO REPORTS FIRST QUARTER FY 2004 RESULTS

     LANDOVER,  MD,  November 14, 2003 - CERBCO,  Inc.  [OTC:  CERB]  reported a
consolidated loss from continuing operations of -$852,434 (-$0.58 per share) and
consolidated net earnings of $519,370 ($0.35 per share) for the first quarter of
fiscal year 2004. In the first quarter of the previous  fiscal year, the Company
recognized a consolidated  loss from continuing  operations of -$182,670 (-$0.12
per share) and a consolidated net loss of -$293,401 (-$0.20 per share). Sales of
$1,782,882  and   $2,602,127   recognized  by  Insituform   East,   Incorporated
("Insituform   East"),   now   known   as  INEI   Corporation,   the   Company's
majority-controlled  and then only operating segment, for the three months ended
September  30,  2003 and  2002,  respectively,  are  included  in the loss  from
discontinued operations.

                         CONSOLIDATED FINANCIAL SUMMARY

                                                                  Three Months Ended September 30,
                                                                  --------------------------------
2003                   2002
                                                                     ----                   ----
Sales                                                             $        -            $       -
                                                                  ==========           ==========

Loss from Continuing Operations                                   $ (852,434)           $(182,670)

Earnings (Loss) from Discontinued Operations                       1,371,804             (110,731)
                                                                  ----------           ----------

Net Earnings (Loss)                                               $ 519,370             $(293,401)
                                                                  ==========           ==========
Basic and Diluted Earnings (Loss) per Share:

Loss from continuing operations                                    $   (0.58)           $   (0.12)

Earnings (loss) from discontinued operations                            0.93                (0.08)
                                                                  ----------           ----------

Net earnings (loss) per share                                      $    0.35            $   (0.20)
                                                                  ==========           ==========
Basic and Diluted Weighted Average Shares
    Outstanding                                                    1,482,956            1,482,956
The  Company  attributed  its  favorable  results  for  the  quarter  ended
September 30, 2003 to the discontinued operations of Insituform East. Insituform
East  recognized  net  earnings  of  $3,493,155,   contributing   earnings  from
discontinued  operations  of $1,371,804  (39.3%) to the Company,  primarily as a
result of a $5.5 million  sale of  substantially  all of its  business  under an
Asset Sale closed on September  5, 2003.  Insituform  East  recognized a gain of
approximately $5.0 million on the sale.

     Consistent  with the Asset Sale, the Insituform East Board of Directors has
undertaken certain additional  transactions designed to maximize Insituform East
stockholder  value.  In this regard,  on July 24, 2003,  Insituform East entered
into a Real Estate Contract of Sale for the potential sale of its principal real
estate  assets.   Insituform   East  currently   anticipates   that   additional
transactions  will take the form of the  liquidation  of its  remaining  assets,
including the sale or disposition of the assets of Try Tek Machine Works,  Inc.,
a wholly-owned subsidiary of Insituform East, and the satisfaction of Insituform
East's  liabilities,  including  personnel  termination and related costs,  sale
transaction expenses and final liquidation costs.

     After  completion of the Asset Sale,  Insituform  East held as of September
30, 2003:

     o    Two contiguous  parcels of improved real property located in Landover,
          Maryland,  historically  held for the purpose of housing its corporate
          headquarters and cured-in-place  pipe ("CIPP") business operations and
          which are the  subject  of the Real  Estate  Contract  of Sale,  which
          contemplates  the sale of these  properties  for a  combined  price of
          $5,215,000;

     o    One parcel of improved real property located in Hanover, Pennsylvania,
          used to house the business of Try Tek, which custom designs and builds
          machinery,  including  machinery used to rehabilitate  pipelines using
          CIPP processes;

     o    Cash and cash  equivalents  in the  approximate  amount of $2,400,000,
          substantially  all of which represents  residual net proceeds from the
          Asset Sale;

     o    Residual  inventory  and  equipment  not part of the Asset Sale in the
          approximate amount of $1,000,000; and

     o    Accounts receivable in the approximate amount of $1,800,000.

     Insituform  East and,  consequently,  the Company,  has not had any ongoing
operations  subsequent to the Asset Sale, other than those of Try Tek, and those
operations were significantly curtailed after September 30, 2003.

     On September 24, 2003,  the  Insituform  East Board of Directors  concluded
that dissolution of Insituform East, liquidation, and distribution of its assets
would be in the best  interest  of  Insituform  East and its  stockholders.  The
Insituform  East  Board   preliminarily   adopted  a  plan  of  dissolution  and
liquidation  and  intends  to  submit  the  definitive  plan  and  the  proposed
dissolution to a vote of stockholders at Insituform  East's next annual meeting,
currently anticipated to be held during the quarter ending March 31, 2004.

     Likewise,  on September  24, 2003,  the Company's  Board of Directors  also
concluded that dissolution of the Company,  liquidation, and distribution of its
assets would be in the best  interest of the Company and its  stockholders.  The
CERBCO Board also  preliminarily  adopted a plan of dissolution  and liquidation
and intends to submit the definitive plan and proposed  dissolution to a vote of
stockholders at the Company's next annual meeting, also currently anticipated to
be during the quarter ending March 31, 2004.

     This  report  contains  forward-looking  statements  within the  meaning of
Section 27A of the  Securities  Act of 1933, as amended,  and Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking statements that are
based  on  certain  assumptions  and  describe  future  plans,  strategies,  and
expectations  of the  Company  are  generally  identifiable  by use of the words
"believe," "expect," "intend,"  "anticipate,"  "estimate,"  "project" or similar
expressions.  Forward-looking statements such as these involve known and unknown
risks,  uncertainties and other important factors that could cause the Company's
actual  results,  performance  or  achievements,   or  other  subjects  of  such
statements,  to differ materially from the Company's expectations regarding such
matters expressed or implied by such forward-looking  statements.  The Company's
ability to predict results or the actual effect of future plans or strategies is
inherently  uncertain.  Although  the  Company  believes  that the  expectations
reflected in its forward-looking  statements contained herein are reasonable, it
cannot  guarantee  future  events or results.  Except as may be  required  under
federal  law,  the Company  undertakes  no  obligation  to update  publicly  any
forward-looking  statements  for any  reason,  even if new  information  becomes
available or other events occur.

     CERBCO,  Inc.  [OTC:CERB]  is a parent  holding  company  with  controlling
interest in INEI  Corporation  [OTC:INEI]  (formerly  known as Insituform  East,
Incorporated).

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