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


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



                                                                   PRESS RELEASE
                                                           For Immediate Release

                  CERBCO REPORTS SECOND QUARTER FY 2003 RESULTS

     LANDOVER,  MD,  February 14, 2003 - CERBCO,  Inc.  [OTC:  CERB]  reported a
consolidated  net loss of -$338,786  (-$0.23 per share) on sales of $2.1 million
for the second  quarter,  and a consolidated  net loss of -$632,187  (-$0.43 per
share) on sales of $4.8  million  for the first six  months of fiscal  year 2003
ended  December 31, 2002. For the  comparative  periods of fiscal year 2002, the
Company  reported  consolidated  net  earnings of $314,258  ($0.21 per share) on
sales of $5.2  million  and a  consolidated  net loss of  -$459,903  (-$0.31 per
share) on sales of $10.0 million respectively.

                         CONSOLIDATED FINANCIAL SUMMARY

<TABLE>
                                            Three Months Ended December 31,   Six Months Ended December 31,
                                            ------------------------------    -----------------------------
<CAPTION>
                                                 2002             2001            2002             2001
                                            ------------      ------------    ------------     ------------
<S>                                          <C>               <C>             <C>             <C>
Sales                                        $2,149,864        $5,185,027      $4,751,991      $10,049,883
                                            ============      ============    ============     ============

Net Earnings (Loss)                          $ (338,786)       $  314,258      $ (632,187)     $  (459,903)
                                            ============      ============    ============     ============
Basic and Diluted  Earnings (Loss) Per
Share                                        $    (0.23)       $     0.21      $    (0.43)     $     (0.31)

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 quarter ended
December  31,  2002 to the  unfavorable  results of the  Insituform  East,  Inc.
("Insituform  East"),  the  Company's  majority-controlled  and  only  operating
segment.  Insituform  East  recognized a  consolidated  net loss of -$602,550 on
sales of $2.1  million,  which  contributed a loss of -$236,629 to CERBCO in the
second quarter of the current year.

     The Company attributed Insituform East's unfavorable results for the second
quarter fiscal year 2003  primarily to a reduced volume of immediately  workable
backlog  in its  licensed  Insituform(R)  process  territory.  With  respect  to
forward-looking  information, and while there can be no assurances regarding the
Company's future operating performance, the Company anticipates the continuation
of its current reduced level of immediately  workable  backlog for the remainder
of fiscal year 2003. As previously reported,  the Company was not the low bidder
during fiscal year 2002 on renewal work with its then largest Insituform process
customer, a county government in the Washington, D.C. metropolitan area, and the
loss of such  significant  work has had a large negative impact on the Company's
workable backlog pending the procurement of replacement  contracts.  The Company
intends to continue to pursue an aggressive  cost reduction  program in response
to its current and forward anticipated adverse business conditions.

     The  Company's  total  backlog  value  of all  uncompleted  and  multi-year
contract awards was approximately $10.7 million at December 31, 2002 as compared
to  $17.4  million  at  December  31,  2001.  The  total  backlog  value  of all
uncompleted and multi-year contracts at December 31, 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.  The twelve-month  backlog at December 31, 2002
was approximately $8.5 million as compared to $8.9 million at December 31, 2001.
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-prices 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,  another  significant  factor
affecting  the  Company's  future  performance  remains  the  volatility  of the
Company's  operating  subsidiary's  earnings  as a function  of sales  volume at
normal  margins.  Accordingly,  because a  substantial  portion of the Company's
costs are semi-fixed in nature,  earnings can, at times, be severely  reduced or
eliminated  during  periods of  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  uncertain  and therefore  amplify  evaluation  risks.  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": "cpr2q03.txt", "description": "CERBCO, INC. REPORTS SECOND QUARTER FY 2003 RESULTS", "secsgml_size_bytes": 9473}]
{"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": "03565463"}, "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)               February 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  February  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: February 14, 2003                          CERBCO, Inc.
                                                 -------------------------------
                                                 (Registrant)

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

                                                                   PRESS RELEASE
                                                           For Immediate Release

                  CERBCO REPORTS SECOND QUARTER FY 2003 RESULTS

     LANDOVER,  MD,  February 14, 2003 - CERBCO,  Inc.  [OTC:  CERB]  reported a
consolidated  net loss of -$338,786  (-$0.23 per share) on sales of $2.1 million
for the second  quarter,  and a consolidated  net loss of -$632,187  (-$0.43 per
share) on sales of $4.8  million  for the first six  months of fiscal  year 2003
ended  December 31, 2002. For the  comparative  periods of fiscal year 2002, the
Company  reported  consolidated  net  earnings of $314,258  ($0.21 per share) on
sales of $5.2  million  and a  consolidated  net loss of  -$459,903  (-$0.31 per
share) on sales of $10.0 million respectively.

                         CONSOLIDATED FINANCIAL SUMMARY

                                            Three Months Ended December 31,   Six Months Ended December 31,
                                            ------------------------------    -----------------------------
2002             2001            2002             2001
                                            ------------      ------------    ------------     ------------
Sales                                        $2,149,864        $5,185,027      $4,751,991      $10,049,883
                                            ============      ============    ============     ============

Net Earnings (Loss)                          $ (338,786)       $  314,258      $ (632,187)     $  (459,903)
                                            ============      ============    ============     ============
Basic and Diluted  Earnings (Loss) Per
Share                                        $    (0.23)       $     0.21      $    (0.43)     $     (0.31)

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 quarter ended
December  31,  2002 to the  unfavorable  results of the  Insituform  East,  Inc.
("Insituform  East"),  the  Company's  majority-controlled  and  only  operating
segment.  Insituform  East  recognized a  consolidated  net loss of -$602,550 on
sales of $2.1  million,  which  contributed a loss of -$236,629 to CERBCO in the
second quarter of the current year.

     The Company attributed Insituform East's unfavorable results for the second
quarter fiscal year 2003  primarily to a reduced volume of immediately  workable
backlog  in its  licensed  Insituform(R)  process  territory.  With  respect  to
forward-looking  information, and while there can be no assurances regarding the
Company's future operating performance, the Company anticipates the continuation
of its current reduced level of immediately  workable  backlog for the remainder
of fiscal year 2003. As previously reported,  the Company was not the low bidder
during fiscal year 2002 on renewal work with its then largest Insituform process
customer, a county government in the Washington, D.C. metropolitan area, and the
loss of such  significant  work has had a large negative impact on the Company's
workable backlog pending the procurement of replacement  contracts.  The Company
intends to continue to pursue an aggressive  cost reduction  program in response
to its current and forward anticipated adverse business conditions.

     The  Company's  total  backlog  value  of all  uncompleted  and  multi-year
contract awards was approximately $10.7 million at December 31, 2002 as compared
to  $17.4  million  at  December  31,  2001.  The  total  backlog  value  of all
uncompleted and multi-year contracts at December 31, 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.  The twelve-month  backlog at December 31, 2002
was approximately $8.5 million as compared to $8.9 million at December 31, 2001.
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-prices 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,  another  significant  factor
affecting  the  Company's  future  performance  remains  the  volatility  of the
Company's  operating  subsidiary's  earnings  as a function  of sales  volume at
normal  margins.  Accordingly,  because a  substantial  portion of the Company's
costs are semi-fixed in nature,  earnings can, at times, be severely  reduced or
eliminated  during  periods of  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  uncertain  and therefore  amplify  evaluation  risks.  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