PROSPECTUS SUPPLEMENT                           Filed pursuant to Rule 424(b)(3)
(TO PROSPECTUS DATED MAY 14, 2001)                    Registration No. 333-55722






                             SUMMIT LIFE CORPORATION

            200,000 Minimum, 1,000,000 Maximum Shares of Common Stock

                         Offering Price $1.00 Per Share







         This Prospectus  Supplement  supplements  our Prospectus  dated May 14,
2001.  Accordingly,  you should read this  Prospectus  Supplement in conjunction
with the Prospectus.  Capitalized terms used in this Prospectus  Supplement have
the meanings specified in the Prospectus.






                          (continued on following page)

                      ------------------------------------


         Neither the Securities and Exchange Commission nor any state commission
has approved or disapproved  of these  securities or passed upon the accuracy or
adequacy of this prospectus.  Any  representation  to the contrary is a criminal
offense.

                      ------------------------------------








            The date of this Prospectus Supplement is August 7, 2001





         On August 1, 2001, we filed with the Securities and Exchange Commission
certain financial  information as of and for the period ended June 30, 2001, the
material portions of which are set forth below.

Summary Financial Data

         Operating Data

         The following table sets forth selected information regarding operating
results for the periods indicated.

                                                                              Six Months Ended
                                                Year Ended December 31,           June 30,
                                                -----------------------    -----------------------
                                                 1999           2000        2000           2001
                                                --------       --------    --------       --------
                                                                  (in thousands)
                                                                              

Statement of Operations Data:
         Revenues                               $    813       $    571    $    382       $    496
         Benefits, losses and expenses             1,704            975         469            588
         Net Loss                                   (884)          (404)        (87)           (91)


         Balance Sheet Data
                                                                 As of June 30, 2001
                                                --------------------------------------------------
                                                                         As Adjusted (1)
                                                              ------------------------------------
                                                   Actual     Minimum Offering    Maximum Offering
                                                   ------     ----------------    ----------------
                                                                 (in thousands)
Balance Sheet Data:
         Cash and cash equivalents                 $1,535           $1,695              $2,259
         Total assets                               6,349            6,509               7,073
         Total liabilities                          5,257            5,257               5,080
         Stockholders' equity                       1,092            1,252               1,993



-------------------------

(1)      Gives effect to the sale of the minimum and maximum number of shares of
common stock offered  hereby,  and the  application  of the  estimated  proceeds
therefrom.  See "USE OF PROCEEDS" and  "CAPITALIZATION"  in our prospectus dated
May 14, 2001.


                                      S-2



Results of Operations

         This prospectus supplement includes "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.  All statements
other than  statements of historical  facts included in this report,  including,
without limitation, statements regarding our future financial position, business
strategy,  budgets,  projected  costs and plans and objectives of management for
future operations, are forward-looking statements. In addition,  forward-looking
statements generally can be identified by the use of forward-looking terminology
such as "may," "will," "expect," "intend," "estimate," "anticipate" or "believe"
or the negative thereof or variations thereon or similar  terminology.  Although
we believe that the expectations  reflected in such  forward-looking  statements
are reasonable,  we can give no assurance that such  expectations  will prove to
have been correct.  Such  statements are based upon numerous  assumptions  about
future  conditions which may ultimately prove to be inaccurate and actual events
and results may materially  differ from  anticipated  results  described in such
statements.  Important  factors  that  could  cause  actual  results  to  differ
materially  from our  expectations  include the risks inherent  generally in the
insurance and  financial  services  industries,  the impact of  competition  and
product pricing,  changing market conditions,  the risks disclosed in our annual
report  on Form  10-KSB  for the  year  ended  December  31,  2000  under  "Item
6--Management's  Discussion  and Analysis or Plan of  Operation," as well as the
risks  disclosed in our prospectus  dated May 14, 2001, of which this prospectus
supplement is a part. All subsequent written and oral forward-looking statements
attributable to us, or persons acting on our behalf, are expressly  qualified in
their entirety by these  cautionary  statements.  We assume no duty to update or
revise our forward-looking  statements based on changes in internal estimates or
expectations  or  otherwise.  As a result,  the reader is cautioned not to place
reliance on these forward-looking statements.

 Three Months Ended June 30, 2001 Compared to Three Months ended June 30, 2000

         Revenue.  Total  revenues  increased 100% from $219,248 to $439,046 for
the three months ended June 30, 2000 and June 30, 2001,  respectively.  Revenues
attributable  to life insurance  increased 422% from $32,607 to $170,247 for the
three  months  ended June 30,  2001,  compared to the same period ended June 30,
2000.  The  increase  was due  primarily  to the  continued  sale  of  insurance
contracts.

         Investment  income  increased  206% from  $90,083 for the three  months
ended June 30,  2000 to  $276,191  for the three  months  ended  June 30,  2001,
primarily as a result of the sale of a communications tower lease for $186,000.

         Net losses on trading  securities of $17,431 were reported for June 30,
2001. We began trading securities in the fourth quarter of 2000 and are required
to report  unrealized gains and losses in operations.  The realized gain or loss
for each trading security may differ  materially  depending on the date of sale,
the  underlying   performance  of  the  represented  company  and  other  market
conditions.

         Other income decreased from $91,750 for the three months ended June 30,
2000 to $9,522  for the three  months  ended June 30,  2001.  A one time gain of
$67,592  from the sale of real estate was  recognized  in the second  quarter of
2000.

         Costs and  Expenses.  Total  expenses  increased  82% from  $207,874 to
$379,480 for the three months ended June 30, 2000 and 2001,  respectively.  Such
increase was primarily  attributable  to reserve  increases  associated with our
writing of new business.

         Policy  benefits  decreased  slightly  from  $26,883 to $22,211 for the
comparable  periods.  Policy  reserves  increased  $150,907  for the  comparable
periods. Depreciation and amortization increased from $12,301 to $28,528 for the
three  months  ended March 31, 2000 and 2001,  respectively,  as we continued to
amortize  the block of  business  acquired  with Great  Midwest  Life  Insurance
Company.  General  expenses  increased  8% from  $120,539  to  $130,069  for the
comparable periods.

                                      S-3



         Income/Loss. We reported net income for the three months ended June 30,
2001 of $47,066, compared to a net loss for the three months ended June 30, 2000
of $1,126.  We  continued  to increase  revenues  from life  insurance  and held
operating costs steady during the quarter.

         We  reported  net  income  per  share of $0.02  per share for the three
months  ended June 31,  2001,  compared to a net loss of $0.00 per share for the
three months ended June 30, 2000.

   Six Months Ended June 30, 2001 Compared to Six Months ended June 30, 2000

         Revenue. Total revenues increased 30% from $382,052 to $496,368 for the
six  months  ended  June 30,  2000 and June  30,  2001,  respectively.  Revenues
attributable  to life insurance  increased 227% from $61,878 to $202,265 for the
six months ended June 30, 2001, compared to the same period ended June 30, 2000.
The increase was due primarily to the continued sale of insurance products.

         Investment  income increased 84% from $193,588 for the six months ended
June 30, 2000 to $356,289 for the three months ended June 30, 2001, primarily as
a result of the sale of a communications tower lease for $186,000.

         Net  losses on trading  securities  of $73,862  were  reported  for the
period ended June 30, 2001. We began trading securities in the fourth quarter of
2000 and are required to report  unrealized gains and losses in operations.  The
realized gain or loss for each trading security may differ materially  depending
on the date of sale, the underlying  performance of the represented  company and
other market conditions.

         Other income  decreased  from $97,055 for the six months ended June 30,
2000 to $18,506  for the six  months  ended  June 30,  2001.  A one time gain of
$67,592  from the sale of real estate was  recognized  in the second  quarter of
2000.

         Costs and  Expenses.  Total  expenses  increased  25% from  $469,003 to
$587,743  for the six months  ended June 30, 2000 and 2001,  respectively.  Such
increase was primarily  attributable  to reserve  increases  associated with our
writing of new business.

         Policy  benefits  decreased  from $60,550 to $57,900 for the comparable
periods.   Policy  reserves  increased  $133,949  for  the  comparable  periods.
Depreciation  and  amortization  increased  from  $30,367 to $57,485 for the six
months ended June 30, 2000 and 2001,  respectively,  as we continued to amortize
the block of  business  acquired  with Great  Midwest  Life  Insurance  Company.
General  expenses  decreased  13% from  $257,165 to $223,169 for the  comparable
periods as a result of management cost containment programs.

         Loss.  We reported a net loss for the six months ended June 30, 2001 of
$91,375,  compared  to a net  loss for the six  months  ended  June 30,  2000 of
$86,951.  We  continued  to  increase  revenues  from  life  insurance  and held
operating costs steady during the quarter.

         We  reported a net loss per share of $0.05 per share for the six months
ended  June 31,  2001,  compared  to a net loss of $0.05 per share for the three
months ended June 30, 2000.

Liquidity and Capital Resources

         Total assets were  $6,349,059 at June 30, 2001,  compared to $6,162,682
at December 31, 2000,  an increase of 3.0%.  The increase was due to the receipt
of new annuity deposits.

         Total liabilities, primarily insurance reserves for future policyholder
benefits,  were $5,257,232 at June 30, 2001,  compared to $5,187,382 at December
31,  2000,  an increase of 1%. The  increase  was due  primarily  to new annuity
deposits.

                                      S-4



         Total stockholders' equity was $1,091,827 at June 30, 2001, compared to
$975,300 at December 31, 2001, an increase of 12%. The increase was attributable
to the sale of  200,200  shares  of  common  stock,  sold  pursuant  to a public
offering of our stock.

         The  principal  requirements  for  liquidity  in  connection  with  our
operations are our contractual obligations to policyholders and annuitants.  Our
contractual  obligations  include  payments  of  surrender  benefits,   contract
withdrawals,  policy loans and claims under outstanding  insurance  policies and
annuities.  Payment of surrender benefits is a function of "persistency,"  which
is the extent to which  insurance  policies are maintained by the  policyholder.
Policyholders  sometimes do not pay  premiums,  thus causing  their  policies to
lapse,  or  policyholders  may choose to surrender their policies for their cash
surrender  value.  If  actual  experience  of a policy or block of  policies  is
different from the initial or acquisition date assumptions, a gain or loss could
result.  Depending on the nature of the underlying  policy, a lapse or surrender
may result in  surrender  charge  revenue or  surrender  benefit  expense.  Such
amounts may be less than,  or greater  than,  unamortized  acquisition  expenses
and/or the related policy  reserves;  accordingly,  current period  earnings may
either  increase or decrease.  Additionally,  policy lapses and  surrenders  may
result in lost future  revenues and profits  associated with those policies that
are lapsed or surrendered.

         Although we currently have a $200,000 bank line of credit, we fund most
of our  activity  directly  from cash flow  from  operations  and cash flow from
financing  activities,   which  includes  deposits  to  policyholders'   account
balances.  The line of  credit  extends  to July  2002,  with  amounts  borrowed
thereunder  bearing  interest  at prime plus .5%. At June 30, 2001 and as of the
date of this Report, $200,000 was outstanding under the line of credit.

         On January 13, 1999, we acquired 100% of the  outstanding  common stock
of Great  Midwest Life  Insurance  Company,  a  Texas-chartered  life  insurance
company.  The total cost of the acquisition was approximately  $939,000.  Of the
purchase price,  cash of $607,000 was paid to seven of eight  stockholders  with
the eighth  stockholder  receiving a promissory  note for a principal  amount of
$332,000,  payable in three equal annual installments at an annual interest rate
of 6% on the unpaid principal  balance.  We partially funded the cash portion of
the purchase price with a $350,000 loan from a bank.  The loan accrued  interest
at an index rate plus .5%,  payable monthly,  and originally  matured on July 9,
1999, at which time we paid  $100,000 of the  principal  amount owed and renewed
the balance for a six-month  term maturing  January 9, 2000.  The balance of the
loan was paid December 31, 1999 using  operating cash flow and the proceeds from
the sale of Benefit Capital Life Insurance Company, our wholly owned subsidiary.
In addition,  during the three  months ended June 30, 2001,  we paid the last of
the three  installments on the promissory  note held by a former  stockholder of
Great Midwest.

         We have made and intend to make substantial  expenditures in connection
with our subsidiary's acquisition and marketing programs.  Historically, we have
funded these expenditures from cash flow from operations.

         We believe  that the  liquidity  resulting  from the sale of our common
stock,  together with  anticipated  cash from continuing  operations,  should be
sufficient to fund our operations and to make required payments under our credit
facility  and the annual 10%  dividend on the Series A Preferred  Stock,  for at
least the next 12 months. We may not, however, generate sufficient cash flow for
these purposes or to repay the note at maturity.  Our ability to fund operations
and to make scheduled  principal and interest payments will depend on our future
performance,  which,  to a certain  extent,  is  subject  to  general  economic,
financial,  competitive,  legislative,  regulatory  and other  factors  that are
beyond our control.

Recent Events

         On August 1, 2001,  our wholly  owned  subsidiary,  Great  Midwest Life
Insurance Company acquired through an assumption  reinsurance  agreement 100% of
the inforce life insurance  business of Presidential  Life Insurance  Company of
Dallas,  Texas,  for a net cash purchase price of  approximately  $165,000.  The
acquired business consists  primarily of individual life insurance business with
policy  reserves and annual  premium of  approximately  $780,000  and  $120,000,
respectively.

                                      S-5



Submission of Matters to Vote of Security Holders

         We held our annual stockholders' meeting on May 10, 2001. Two proposals
were voted on by the stockholders: 1) election of directors, and 2) ratification
of the appointment of Grant Thornton LLP as independent auditors.  All proposals
were approved by a majority of the votes cast at the meeting as follows:

         (a)  Two directors were elected to serve a three-year term.

              James L. Smith and M. Dean  Brown  were each  elected as a Class 2
              director for a term expiring at the 2004 annual meeting:

              James L. Brown:                    M. Dean Brown:

              1,812,377 shares voted in favor    1,812,377 shares voted in favor
              857 shares withheld                857 shares withheld

              Charles L. Smith and Thomas D. Sanders,  who are Class 1 directors
              with terms expiring at the 2002 annual meeting, and Gary L. Ellis,
              a Class 3 director whose term expires at the 2003 annual  meeting,
              were not up for reelection and continued on as directors.

         (b)  Ratification   of  the   appointment  of  Grant  Thornton  LLP  as
              independent auditors:

              In favor:    1,053,911
              Against:       753,117
              Abstain:         6,206

Financial Statements

         Our  unaudited  consolidated  financial  statements  as of and  for the
period ended June 30, 2001 are provided on pages S-7 through S-11.



                                      S-6




                    Summit Life Corporation and Subsidiaries

                           Consolidated Balance Sheets

                                     ASSETS

                                                     June 30,      December 31,
                                                        2001            2000
                                                   ------------    ------------
                                                    (Unaudited)
INVESTMENTS
      Debt securities-held to maturity             $    328,075    $    328,075
      Debt securities-available for sale              2,482,137       2,426,607
      Equity securities-trading                         212,424         113,643
      Equity securities-available for sale               12,500           8,915
      Equity securities-other                            66,788          63,663
      Mortgages                                         716,175         734,220
      Notes receivable                                  200,624         207,658
      Short-term investments                                  0               0
      Policy loans                                       32,823          33,382
      Investment in limited partnerships                 58,122          57,300



                                                   ------------    ------------
                                                      4,109,668       3,973,463

CASH AND CASH EQUIVALENTS                             1,535,080       1,436,338

RECEIVABLES
      Accrued investment income                          42,707          41,984
      Advances to affiliates                             10,300           9,928
                                                   ------------    ------------
                                                         53,007          51,912

PROPERTY AND EQUIPMENT-AT COST
      Building and improvements                         129,419         129,419
      Furniture and equipment                           116,570         116,570
      Automobiles                                        22,015          22,015
                                                   ------------    ------------
                                                        268,004         268,004
             Less accumulated depreciation             (116,478)       (102,638)
                                                   ------------    ------------
                                                        151,526         165,366
      Land                                               56,000          56,000
                                                   ------------    ------------
                                                        207,526         221,366
OTHER ASSETS
      Cost in excess of net assets of businesses
             acquired, less accumulated amortization     37,500          40,000
      Deferred policy acquisition costs                  49,527          57,527
      Value of purchased insurance business             286,851         321,851
      Deferred income taxes                              37,241          37,241
      Other                                              32,659          22,984
                                                   ------------    ------------
                                                        443,778         479,603
                                                   ------------    ------------

                                                   $  6,349,059    $  6,162,682
                                                   ============    ============

The  accompanying  notes  are  an  integral  part  of  these  interim  financial
statements

                                      S-7





                    Summit Life Corporation and Subsidiaries


                           Consolidated Balance Sheets

                      LIABILITIES AND STOCKHOLDERS' EQUITY

                                                                      June 30,      December 31,
                                                                         2001            2000
                                                                    ------------    ------------
                                                                     (Unaudited)
                                                                              

LIABILITIES
      Policy reserves and policyholder funds                        $  4,829,773    $  4,708,295
      Unpaid claims                                                       18,779         175,951
      Accounts payable                                                    82,066          39,458
      Accrued liabilities                                                 13,549          15,424
      Notes payable                                                      313,065         248,254
      Other liabilities                                                        0               0
                                                                    ------------    ------------
                                                                       5,257,232       5,187,382


STOCKHOLDERS' EQUITY
      Common stock, $.01 par value                                        24,678          22,676
      Preferred stock, series A, $.001 par value, stated at
              liquidation value                                          500,000         500,000
      Preferred stock, series B, $1.00 par value                         350,000         350,000
      Preferred stock, series B subscribed                               650,000         650,000
      Additional paid-in capital                                       3,121,794       2,923,596
      Common stock of parent held by subsidiary                          (95,000)        (95,000)
      Accumulated other comprehensive income (loss)
              Unrealized appreciation (depreciation) of available         12,820         (19,882)
              for sale securities
      Accumulated deficit                                             (2,822,465)     (2,706,090)
             Less preferred stock subscriptions receivable              (650,000)       (650,000)
                                                                    ------------    ------------
                                                                       1,091,827         975,300

                                                                    ------------    ------------
                                                                    $  6,349,059    $  6,162,682
                                                                    ============    ============



The  accompanying  notes  are  an  integral  part  of  these  interim  financial
statements

                                      S-8




                    Summit Life Corporation and Subsidiaries
                      Consolidated Statements of Operation
                                   (Unaudited)

                                                                             Three Months Ended              Six Months Ended
                                                                                  June 30,                       June 30,
                                                                         --------------------------    --------------------------
                                                                             2001           2000           2001           2000
                                                                         -----------    -----------    -----------    -----------
                                                                                                          
Revenues
      Insurance premiums                                                 $   177,170    $    43,488    $   220,985    $    82,305
      Reinsurance premium ceded                                               (6,923)       (10,881)       (18,720)       (20,427)
                                                                                        -----------    -----------    -----------
           Net premium income                                                170,247         32,607        202,265         61,878
      Investment activity
           Investment income                                                 276,191         90,083        356,289        193,588
           Net realized gains on sale of available for sale securities           517          4,808         (6,830)        29,531
           Net losses on trading securities                                  (17,431)          --          (73,862)          --
      Other                                                                    9,522         91,750         18,506         97,055
                                                                         -----------    -----------    -----------    -----------
                                                                             439,046        219,248        496,368        382,052
Benefits, losses and expenses
      Policy benefits                                                         22,211         26,883         57,900         60,550
      Change in policy reserves                                              189,697         38,790        228,620         94,671
      Interest expense                                                         5,375          4,678         10,201         13,248
      Taxes, licenses and fees                                                 3,600          4,683         10,368         13,002
      Depreciation and amortization                                           28,528         12,301         57,485         30,367
      General, administrative and other operating expenses                   130,069        120,539        223,169        257,165
                                                                         -----------    -----------    -----------    -----------
                                                                             379,480        207,874        587,743        469,003
                                                                         -----------    -----------    -----------    -----------
             Earnings (Loss)
               before income taxes                                            59,566         11,374        (91,375)       (86,951)
Income tax provision                                                            --             --             --             --
                                                                         -----------    -----------    -----------    -----------

                       NET EARNINGS (LOSS)                               $    59,566    $    11,374    $   (91,375)   $   (86,951)

Preferred Stock Dividend Requirement                                          12,500         12,500         25,000         25,000
                                                                         -----------    -----------    -----------    -----------

             NET EARNINGS (LOSS) APPLICABLE TO COMMON
             SHARES                                                     $     47,066    $    (1,126)   $  (116,375)   $  (111,951)
                                                                         ===========    ===========    ===========    ===========

Earnings (Loss) per common share -
               Basic and diluted
                                                                        $      0.02    $      0.00    $     (0.05)   $     (0.05)
                                                                        ===========    ===========    ===========    ===========

Weighted average outstanding common shares,
      basic and diluted                                                   2,259,605      2,248,605      2,254,105      2,248,605
                                                                        ===========    ===========    ===========    ===========



The  accompanying  notes  are  an  integral  part  of  these  interim  financial
statements

                                      S-9






                    Summit Life Corporation and Subsidiaries

                 Consolidated Statement of Stockholders' Equity

                         Six Months Ended June 30, 2001
                                   (Unaudited)




                                                     Common Stock              Preferred Stock "A"           Preferred Stock "B"
                                                     ------------              -------------------           -------------------
                                                                              Shares        Liquid-         Shares         Liquid-
                                                Shares          Par            Out-          ation           Out-           ation
                                  Total         Issued         Value         standing        Value         standing         Value
                              ------------   ------------   ------------   ------------   ------------   ------------   ------------
                                                                                                   

Balance at January 1, 2001    $    975,300      2,267,605   $     22,676          5,000   $    500,000        350,000   $    350,000

Issuance of common stock           200,200        200,200          2,002           --             --             --             --

Dividends on preferred stock       (25,000)          --             --             --             --             --             --

Issuance of Series B
  preferred                           --             --             --             --             --             --             --

Comprehensive income
  Net income (loss)                (91,375)          --             --             --             --             --             --
  Other comprehensive inc
  (loss)
  Unrealized gain on                32,702           --             --             --             --             --             --
  investments                 ------------
      Comprehensive inc
       (loss)                      (58,673)
                              ------------                  ------------   ------------   ------------   ------------   ------------

Balance at June 30, 2001      $  1,091,827      2,467,805   $     24,678          5,000   $    500,000        350,000   $    350,000
                              ============   ============   ============   ============   ============   ============   ============


                                                Common       Accumulated
                                               Stock of          Other                      Preferred
                               Additional     Parent Held   Comprehensive    Preferred        stock
                                 Paid-in          by            Income        stock       subscriptions   Accumulated
                                 Capital      Subsidiary        (Loss)      subscribed     receivable       Deficit
                              ------------   ------------   ------------   ------------   ------------   ------------


Balance at January 1, 2001    $  2,923,596   $    (95,000)  $    (19,882)  $    650,000   ($   650,000)  $ (2,706,090)

Issuance of common stock           198,198           --             --             --             --             --

Dividends on preferred stock          --             --             --             --             --          (25,000)

Issuance of Series B
  preferred                           --             --             --             --             --             --

Comprehensive income
  Net income (loss)                   --             --             --             --             --          (91,375)
  Other comprehensive inc
  (loss)
  Unrealized gain on                  --             --           32,702           --             --             --
  investments
      Comprehensive inc
       (loss)
                              ------------   ------------   ------------   ------------   ------------   ------------

Balance at June 30, 2001      $  3,121,794   $    (95,000)  $     12,820   $    650,000   ($   650,000)  $ (2,822,465)
                              ============   ============   ============   ============   ============   ============


The  accompanying  notes  are  an  integral  part  of  these  interim  financial
statements

                                      S-10





                    Summit Life Corporation and Subsidiaries

                 Condensed Consolidated Statement of Cash Flows
                                   (Unaudited)

                                                                Six Months Ended
                                                                    June 30,
                                                           --------------------------
                                                               2001           2000
                                                           -----------    -----------
                                                                    

Increase (Decrease) in Cash and Cash Equivalents

Net cash provided by (used in) operating activities        $   (70,722)   $  (167,400)

Net cash provided by (used in) investing activities             (5,359)     1,803,225

Net cash provided by (used in) financing activities            174,823       (316,617)

                                                           -----------    -----------
       NET INCREASE (DECREASE) IN CASH
          AND CASH EQUIVALENTS                                  98,742      1,319,208

Cash and cash equivalents at the beginning of the period     1,436,338        935,746
                                                           -----------    -----------

Cash and cash equivalents at the end of the period         $ 1,535,080    $ 2,254,954
                                                           ===========    ===========




                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE A - BASIS OF PRESENTATION

The accompanying  unaudited consolidated financial statements have been prepared
in  accordance  with  generally  accepted  accounting   principles  for  interim
financial information.  Accordingly,  they do not include all of the information
and footnotes required by generally accepted accounting  principles for complete
financial statements. In the opinion of management,  all adjustments (consisting
of normal recurring accruals)  considered necessary for a fair presentation have
been included. Operating results for the three month and six month periods ended
June 30, 2001 are not necessarily indicative of the results that may be expected
for the year ended  December 31,  2001.  For further  information,  refer to the
consolidated  annual  financial  statements  and footnotes  thereto for the year
ended December 31, 2000.







The  accompanying  notes  are  an  integral  part  of  these  interim  financial
statements

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