8-K

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report: (Date of earliest event reported): January 21, 2003

American Classic Voyages Co.
(Exact Name of Registrant as Specified in Its Charter)

Delaware
(State or Other Jurisdiction of Incorporation)

0-9264 (Commission File Number)	31-0303330 (IRS Employer Identification Number)
Two North Riverside Plaza, Suite 600 Chicago, Illinois (Address of Principal Executive Offices)	60606 (Zip Code)

(312) 466-3171
(Registrant’s Telephone Number, Including Area Code)

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

TABLE OF CONTENTS

AMERICAN CLASSIC VOYAGES DEC.2002 OPERATING REPORT

GREAT OCEAN CRUISE DEC. 2002 OPERATING REPORT

GREAT AQ STEAMBOAT DEC.2002 OPERATING REPORT

CAPE MAY LIGHT DEC. 2002 OPERATING REPORT

CAPE COD LIGHT DEC. 2002 OPERATING REPORT

GREAT RIVER CRUISE DEC. 2002 OPERATING REPORT

DELTA QUEEN COASTAL DEC.2002 OPERATING REPORT

DQSC PROPERTY CO. DEC.2002 OPERATING REPORT

CRUISE AMERICAN TRAVEL DEC.2002 OPERATING REPORT

AMCV CRUISE OPERATIONS DEC.2002 OPERATING REPORT

CAT II, INC. DEC.2002 OPERATING REPORT

GREAT INDEPENDENCE SHIP DEC.2002 OPERATING REPORT

DELTA QUEEN STEAMBOAT DEC. 2002 OPERATIONG REPORT

GREAT HAWAIIAN PROPERTIES DEC. 02 OPERATING REPORT

OCEAN DEVELOPMENT DEC. 2002 OPERATING REPORT

AMCV HOLDINGS DEC. 2002 OPERATING REPORT

DQSB II, INC. DEC. 2002 OPERATING REPORT

GREAT HAWAIIAN CRUISE DEC.2002 OPERATING REPORT

AMERICAN HAWAII PROPERTIES DEC.02 OPERATING REPORT

GREAT PACIFIC NW CRUISE DEC. 02 OPERATING REPORT

Item 5. Other Events.

     As previously reported, on October 19, 2001, American Classic Voyages Co. (the “Company”) filed a voluntary petition for bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code (“Chapter 11”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”). On October 22, 2001, all of the Company’s subsidiaries other than Oceanic Ship Co., Project America, Inc., Project America Ship I, Inc. and Project America Ship II, Inc. (the “Non-Filing Subsidiaries”) filed a voluntary petition for bankruptcy protection under Chapter 11 in the Bankruptcy Court. On October 22, 2001, the Non-Filing Subsidiaries ceased all operations and the secured creditor, Holland America Line, took possession of the ms Patriot (the primary asset of Oceanic Ship Co.) in connection with the uncontested foreclosure of its maritime lien on the vessel. All subsidiaries of the Company other than the Non-Filing Subsidiaries are hereinafter referred to as the “Filing Subsidiaries.”

     Pursuant to the requirements of the previously disclosed filings under Chapter 11, on January 21, 2003, each of the Company and the Filing Subsidiaries filed a monthly operating report for the month ended December 31, 2002 (a “December 2002 Monthly Operating Report,” and collectively, the “Reports”) with the U.S. Trustee Office.

     The financial data included in the Reports is not audited. The Reports are in a format prescribed by applicable bankruptcy laws. There can be no assurance that, from the perspective of an investor or potential investor in the Company’s securities, the Reports are complete or presented on a basis consistent with the Company’s previous periodic filings. The Reports also contain information for periods different from those required in the Company’s reports pursuant to the Securities Exchange Act of 1934, as amended (“the Exchange Act”). This information might not be indicative of the Company’s financial condition or operating results for the period that would be reflected in the Company’s financial statements or in its reports pursuant to the Exchange Act. Results set forth in any of the Reports should not be viewed as indicative of future results.

     Copies of the Reports filed by each of the Company and the Filing Subsidiaries on January 21, 2003, are attached as Exhibits 99.1 through Exhibit 99.20 hereto.(1)

Item 7. Exhibits.

Exhibit
Number	Exhibit
99.1	American Classic Voyages Co. December 2002 Monthly Operating Report, filed January 21, 2003
99.2	Great Ocean Cruise Line, L.L.C. December 2002 Monthly Operating Report, filed January 21, 2003
99.3	Great AQ Steamboat, L.L.C. December 2002 Monthly Operating Report, filed January 21, 2003
99.4	Cape May Light, L.L.C. December 2002 Monthly Operating Report, filed January 21, 2003
99.5	Cape Cod Light, L.L.C. December 2002 Monthly Operating Report, filed January 21, 2003
99.6	Great River Cruise Line, L.L.C. December 2002 Monthly Operating Report, filed January 21, 2003
99.7	Delta Queen Coastal Voyages, L.L.C. December 2002 Monthly Operating Report, filed January 21, 2003
99.8	DQSC Property Co. December 2002 Monthly Operating Report, filed January 21, 2003
99.9	Cruise America Travel, Incorporated December 2002 Monthly Operating Report, filed January 21, 2003
99.10	AMCV Cruise Operations, Inc. December 2002 Monthly Operating Report, filed January 21, 2003

¹   The Reports are included herein in their entirety except for Attachment 3 — Bank and Investment Account Statements (“Attachment 3”), which has been omitted. A summary of the activity presented on the respective Attachments 3 is included on the respective Attachments 2 — Schedule of Receipts and Disbursements for each of the Company and the Filing Subsidiaries.

99.11	CAT II, Inc. December 2002 Monthly Operating Report, filed January 21, 2003
99.12	Great Independence Ship Co. December 2002 Monthly Operating Report, filed January 21, 2003
99.13	The Delta Queen Steamboat Co. December 2002 Monthly Operating Report, filed January 21, 2003
99.14	Great Hawaiian Properties Corporation December 2002 Monthly Operating Report, filed January 21, 2003
99.15	Ocean Development Co. December 2002 Monthly Operating Report, filed January 21, 2003
99.16	AMCV Holdings, Inc. December 2002 Monthly Operating Report, filed January 21, 2003
99.17	DQSB II, Inc. December 2002 Monthly Operating Report, filed January 21, 2003
99.18	Great Hawaiian Cruise Line, Inc. December 2002 Monthly Operating Report, filed January 21, 2003
99.19	American Hawaii Properties Corporation December 2002 Monthly Operating Report, filed January 21, 2003
99.20	Great Pacific NW Cruise Line, L.L.C. December 2002 Monthly Operating Report, filed January 21, 2003

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.

	AMERICAN CLASSIC VOYAGES CO.
Date: January 27, 2003	By:	/s/ JORDAN B. ALLEN
		Jordan B. Allen, Executive Vice President and General Counsel

Exhibit Index

Exhibit
Number	Exhibit
99.1	American Classic Voyages Co. December 2002 Monthly Operating Report, filed January 21, 2003
99.2	Great Ocean Cruise Line, L.L.C. December 2002 Monthly Operating Report, filed January 21, 2003
99.3	Great AQ Steamboat, L.L.C. December 2002 Monthly Operating Report, filed January 21, 2003
99.4	Cape May Light, L.L.C. December 2002 Monthly Operating Report, filed January 21, 2003
99.5	Cape Cod Light, L.L.C. December 2002 Monthly Operating Report, filed January 21, 2003
99.6	Great River Cruise Line, L.L.C. December 2002 Monthly Operating Report, filed January 21, 2003
99.7	Delta Queen Coastal Voyages, L.L.C. December 2002 Monthly Operating Report, filed January 21, 2003
99.8	DQSC Property Co. December 2002 Monthly Operating Report, filed January 21, 2003
99.9	Cruise America Travel, Incorporated December 2002 Monthly Operating Report, filed January 21, 2003
99.10	AMCV Cruise Operations, Inc. December 2002 Monthly Operating Report, filed January 21, 2003
99.11	CAT II, Inc. December 2002 Monthly Operating Report, filed January 21, 2003
99.12	Great Independence Ship Co. December 2002 Monthly Operating Report, filed January 21, 2003

Exhibit
Number	Exhibit
99.13	The Delta Queen Steamboat Co. December 2002 Monthly Operating Report, filed January 21, 2003
99.14	Great Hawaiian Properties Corporation December 2002 Monthly Operating Report, filed January 21, 2003
99.15	Ocean Development Co. December 2002 Monthly Operating Report, filed January 21, 2003
99.16	AMCV Holdings, Inc. December 2002 Monthly Operating Report, filed January 21, 2003
99.17	DQSB II, Inc. December 2002 Monthly Operating Report, filed January 21, 2003
99.18	Great Hawaiian Cruise Line, Inc. December 2002 Monthly Operating Report, filed January 21, 2003
99.19	American Hawaii Properties Corporation December 2002 Monthly Operating Report, filed January 21, 2003
99.20	Great Pacific NW Cruise Line, L.L.C. December 2002 Monthly Operating Report, filed January 21, 2003

EX-99.1 3 g80291exv99w1.txt AMERICAN CLASSIC VOYAGES DEC.2002 OPERATING REPORT EXHIBIT 99.1 DEBTOR: AMERICAN CLASSIC VOYAGES CO. CASE NUMBER: 01-10954 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED In accordance with title 28, section 1746, of the United States Code, I declare under penalty of perjury that I have examined the attached December Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ EDDIE J. PUSTIZZI - --------------------- Eddie J. Pustizzi Director, Accounting DEBTOR: AMERICAN CLASSIC VOYAGES CO. CASE NUMBER: 01-10954 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED CONTENTS Attachment 1 Summary of Bank and Investment Accounts Attachment 2 Schedule of Receipts and Disbursements Attachment 3 Bank and Investment Account Statements Attachment 4 Income Statement Attachment 5 Balance Sheet Attachment 6 Summary of Due To/Due From Intercompany Accounts Attachment 7 Accounts Receivable Aging Attachment 8 Accounts Payable Detail Attachment 9 Notes to December Monthly Operating Report

Summary Of Bank And Investment Accounts Attachment 1 --------------------------------------- American Classic Voyages Co --------------------------- Summary Case No: 01-10954 (JWV) UNAUDITED ----------------------- American Classic Voyages Co For Month Of December, 2002 --------------------------- Balances ----------------------------- Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 12/01/02 As Of 12/31/02 Included Included Reconciled - ------- ----------------------------- ------------- ---------- ---------- AMCV Deferred Compensation 0.00 0.00 No - No - No - Bank One Account Account Account Account # - 1590101554 Closed Closed Closed AMCV Dental Benefits 0.00 0.00 No - No - No - Chase (JP Morgan Chase & Co) Account Account Account Account # - 002-2-426530 Closed Closed Closed AMCV Employee Stock Plan 0.00 0.00 No - No - No - LaSalle Bank Account Account Account Account # - 5800015140 Closed Closed Closed AMCV Insurance 0.00 0.00 No - No - No - LaSalle Bank Account Account Account Account # - 5800021411 Closed Closed Closed AMCV Medical Benefits 5,055.54 5,055.54 Yes No - Not Yes Chase (JP Morgan Chase & Co) Concentration Account # - 002-2-426522 Account American Classic Voyages Co 0.00 0.00 No - No - No - Master Cash Account Account Account LaSalle Bank Closed Closed Closed Account # - 2355464 American Classic Voyages Co 0.00 0.00 No - No - No - Payroll Account Account Account LaSalle Bank Closed Closed Closed Account # - 2369368 American Classic Voyages Co 0.00 0.00 No - No - No - PAC Account Account Account LaSalle Bank Closed Closed Closed Account # - 2355882 American Classic Voyages Co 0.00 0.00 No - No - No - Investment Account Account Account Account Credit Suisse Asset Management Closed Closed Closed Account # - 247003452 American Classic Voyages Co 0.00 0.00 No - No - No - Investment Account Account Account Account Goldman Sachs & Co. Closed Closed Closed Account # - 020-53613-2 American Classic Voyages Co 0.00 0.00 No - No - No - Investment Account Account Account Account Merrill Lynch Closed Closed Closed Account # - 318-3271750-7 American Classic Voyages Co 0.00 0.00 No - No - No - Investment Account Account Account Account Conifer Securities Closed Closed Closed Account # - 330-50683 1-8

Receipts & Disbursements Attachment 2 ------------------------ American Classic Voyages ------------------------ R&D - Chase - AMCV Med Ben Case No: 01-10954 (JWV) UNAUDITED ----------------------- Chase ----- AMCV Medical Benefits ----------------------- Account # - 002-2-426522 ------------------------ 1 December 02 - 31 December 02 ------------------------------ Opening Balance - 1 December 02 - ------------------------------- 5,055.54 Receipts - -------- 0.00 Reversal -------- 0.00 Total Receipts Disbursements - ------------- To United Healthcare (Svce charge) -------- 0.00 Total Disbursements Closing Balance - 31 December 02 - --------------------------------- 5,055.54 Concentration & Investment Account Statements Attachment 3 --------------------------------------------- American Classic Voyages Co. ---------------------------- Summary Case No: 01-10954 (JWV) ----------------------- American Classic Voyages Co. For Month Of December, 2002 --------------------------- Attach 3 No Statements Due To No Concentration Or Investment Accounts AMCV US SET OF BOOKS Date: 17-JAN-03 11:10:26 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: DEC-02 currency USD Company=10 (AMCV)

PTD-Actual 31-Dec-02 -------------- Revenue Gross Revenue 0.00 Allowances 0.00 -------------- Net Revenue 0.00 Operating Expenses Air 0.00 Hotel 0.00 Commissions 0.00 Onboard Expenses 0.00 Passenger Expenses 0.00 Vessel Expenses 0.00 Layup/Drydock Expense 0.00 Vessel Insurance 0.00 -------------- Total Operating Expenses 0.00 -------------- Gross Profit 0.00 SG&A Expenses General and Admin Expenses 215,174.30 Sales & Marketing 0.00 Start-Up Costs 0.00 -------------- Total SG&A Expenses 215,174.30 -------------- EBITDA (215,174.30) Depreciation 13,166.85 -------------- Operating Income (228,341.15) Other Expense/(Income) Interest Income (32,230.15) Equity in Earnings for Sub (9,585,509.09) Reorganization expenses 759,622.56 -------------- Total Other Expense/(Income) 10,312,901.50 -------------- Net Pretax Income/(Loss) (10,541,242.65) Income Tax Expense 3,221,982.41 -------------- Net Income/(Loss) (13,763,225.06) ==============

AMCV US SET OF BOOKS Date: 20-JAN-03 12:55:59 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: DEC-02 currency USD Company=10 (AMCV)

YTD-Actual YTD-Actual 31-Dec-02 19-Oct-01 --------------- -------------- ASSETS Cash and Equivalent 0.00 10,343,248.25 Restricted Cash 0.00 0.00 Marketable Securities 0.00 337.15 Accounts Receivable 49,321.00 3,678,916.74 Inventories 0.00 0.00 Prepaid Expenses 0.00 0.00 Other Current Assets 0.00 0.00 --------------- -------------- Total Current Assets 49,321.00 14,022,502.14 Fixed Assets 3,668,304.25 4,979,716.68 Accumulated Depreciation (3,653,012.51) (4,497,369.91) --------------- -------------- Net Fixed Assets 15,291.74 482,346.77 Net Goodwill 0.00 81,420.64 Intercompany Due To/From 268,986,865.62 265,726,906.60 Net Deferred Financing Fees 0.00 3,408,954.89 Net Investment in Subsidiaries (565,207,858.70) 48,551,297.73 Other Non Current Assets 0.00 109,986.54 --------------- -------------- Total Other Assets (296,220,993.08) 317,878,566.40 --------------- -------------- Total Assets (296,156,380.34) 332,383,415.31 =============== ==============

AMCV US SET OF BOOKS Date: 20-JAN-03 12:55:59 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: DEC-02 currency USD Company=10 (AMCV)

YTD-Actual YTD-Actual 31-Dec-02 19-Oct-01 --------------- -------------- LIABILITIES Accounts Payable 0.00 0.00 Accrued Liabilities 1,528,170.78 1,089,864.63 Deposits 0.00 0.00 --------------- -------------- Total Current Liabilities 1,528,170.78 1,089,864.63 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 (3,434,093.96) --------------- -------------- Total Liabilities 1,528,170.78 (2,344,229.33) Liabilities Subject to Compromise 193,616,560.47 200,418,510.55 OWNER'S EQUITY Common Stock 211,013.08 211,013.08 Add'l Paid In Capital 204,438,037.35 204,438,037.35 Current Net Income (Loss) (621,929,695.02) (40,694,620.74) Retained Earnings (74,020,467.00) (29,645,295.60) --------------- -------------- Total Owner's Equity (491,301,111.59) 134,309,134.09 --------------- -------------- Total Liabilities & Equity (296,156,380.34) 332,383,415.31 =============== ==============

AMERICAN CLASSIC VOYAGES CO. ATTACHMENT 6 01-10954 (JWV) Summary List of Due To/Due From Accounts For the Month Ended December 31, 2002 CASE BEGINNING ENDING AFFILIATE NAME NUMBER BALANCE DEBITS CREDITS BALANCE - -------------- -------- -------------- --------- ---------- -------------- AMCV Cruise Operations, Inc. 01-10967 81,720,746.28 32,230.15 642,560.85 81,110,415.58 The Delta Queen Steamboat Co. 01-10970 6,204,670.44 -- -- 6,204,670.44 DQSB II, Inc. 01-10974 22,836.06 -- -- 22,836.06 Great AQ Steamboat, L.L.C. 01-10960 (22,406,500.51) -- -- (22,406,500.51) Great Pacific NW Cruise Line, L.L.C. 01-10977 (15,472,508.20) -- -- (15,472,508.20) Great River Cruise Line, L.L.C. 01-10963 6,704,338.25 -- -- 6,704,338.25 Great Ocean Cruise Line, L.L.C. 01-10959 (29,579,572.10) -- -- (29,579,572.10) Cruise America Travel, Incorporated 01-10966 103,377.71 -- -- 103,377.71 Delta Queen Coastal Voyages, L.L.C. 01-10964 934,299.38 -- -- 934,299.38 Cape Cod Light, L.L.C. 01-10962 (1,670,131.78) -- -- (1,670,131.78) Cape May Light, L.L.C. 01-10961 (656,374.33) -- -- (656,374.33) Project America, Inc. N/A (29,154,390.86) -- -- (29,154,390.86) Oceanic Ship Co. N/A 41,569,782.42 -- -- 41,569,782.42 Project America Ship I, Inc. N/A 1,793,166.15 -- -- 1,793,166.15 Project America Ship II, Inc. N/A 27,241,846.63 -- -- 27,241,846.63 Ocean Development Co. 01-10972 206,389,119.70 -- -- 206,389,119.70 Great Hawaiian Cruise Line, Inc. 01-10975 3,571,229.75 -- -- 3,571,229.75 Great Hawaiian Properties Corporation 01-10971 (51,110,970.59) -- -- (51,110,970.59) American Hawaii Properties Corporation 01-10976 2,484,040.72 -- -- 2,484,040.72 Great Independence Ship Co. 01-10969 24,948,774.58 -- -- 24,948,774.58 CAT II, Inc. 01-10968 15,959,416.62 -- -- 15,959,416.62 -------------- --------- ---------- -------------- 269,597,196.32 32,230.15 642,560.85 268,986,865.62 ============== ========= ========== ==============

AMERICAN CLASSIC VOYAGES CO. CASE #: 01-10954 (JWV) ACCOUNTS RECEIVABLE RECONCILIATION AND AGING

DETAIL: 0-30 DAYS 31-60 DAYS 61-90 DAYS 91+ DAYS TOTAL --------- ---------- ---------- -------- --------- State of Delaware 49,321.00 49,321.00 American Express Credit Card Processor 0.00 Discover Credit Card Processor 0.00 Diners Credit Card Processor 0.00 Travel Agents 0.00 Crew Member 0.00 --------- ---------- ---------- -------- --------- Total 49,321.00 0.00 0.00 0.00 49,321.00 ========= ========== ========== ======== =========

ATTACHMENT #7 American Classic Voyages Co. 01-10954 (JWV) Accounts Payable Detail As of December 31, 2002 Attachment 8 Not Applicable DEBTOR: AMERICAN CLASSIC VOYAGES CO. CASE NUMBER: 01-10954 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO DECEMBER MONTHLY OPERATING REPORT The information contained herein is unaudited. Liabilities included in these financial statements reflect amounts known by the Company to have been incurred. The Company has listed in prior filings with the United States Trustee potential additional claims it believes may be asserted against the Company. To the best of the Debtor's knowledge and belief, based on currently available information, all Federal income and payroll taxes due and owing have been paid. 1. Deferred financing costs represent costs incurred in connection with placing pre-petition debt instruments. Net unamortized deferred financing costs were reclassed to reduce the net carrying value of the related debt held as a liability subject to compromise. 2. Other long-term liabilities had consisted of deferred tax assets and liabilities, net. Deferred tax assets and liabilities had been recognized for the expected future tax consequences of temporary differences between carrying amounts and the tax basis of assets and liabilities. The Debtor adjusted the recorded amounts to zero based upon the expected outcome of Chapter 11 proceedings. 3. The Debtor has ceased recording accruals for distributions on its Trust Preferred securities. Historically, these accruals for these distributions were charged to "interest expense and other financing costs." 4. Pre-petition hold-backs by Paymentech, Inc., the Debtor's credit card processing agent, were reclassed to liabilities subject to compromise in order to reduce the net liability for pre-petition customer deposits. 5. The Debtor further reduced the carrying value of its net fixed asset to reflect the expected fair market value. EX-99.2 4 g80291exv99w2.txt GREAT OCEAN CRUISE DEC. 2002 OPERATING REPORT EXHIBIT 99.2 DEBTOR: GREAT OCEAN CRUISE LINE, L.L.C. CASE NUMBER: 01-10959 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED In accordance with title 28, section 1746, of the United States Code, I declare under penalty of perjury that I have examined the attached December Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ EDDIE J. PUSTIZZI - ---------------------- Eddie J. Pustizzi Director, Accounting DEBTOR: GREAT OCEAN CRUISE LINE, L.L.C. CASE NUMBER: 01-10959 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED CONTENTS Attachment 1 Summary of Bank and Investment Accounts Attachment 2 Schedule of Receipts and Disbursements Attachment 3 Bank and Investment Account Statements Attachment 4 Income Statement Attachment 5 Balance Sheet Attachment 6 Summary of Due To/Due From Intercompany Accounts Attachment 7 Accounts Receivable Aging Attachment 8 Accounts Payable Detail Attachment 9 Notes to December Monthly Operating Report Summary Of Bank, Investment & Petty Cash Accounts Attachment 1 Great Ocean Cruise Line, L.L.C. Summary Case No: 01-10959 (JWV) UNAUDITED Great Ocean Cruise Line, LLC For Month Of December, 2002

Balances -------------------------------- Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 12/01/02 As Of 12/31/02 Included Included Reconciled - ------- -------------- -------------- -------- -------- ---------- Mississippi Queen Steamer 4,000.00 0.00 Yes No - Not Yes Hibernia Concentration Account # - 812-502-719 Account Mississippi Queen 0.00 0.00 No - No Not A Bank No - No Petty Cash Activity Account Activity

Receipts & Disbursements Attachment 2 Great Ocean Cruise Line, L.L.C. R&D - Hibernia - MQ Steamer Case No: 01-10959 (JWV) UNAUDITED Hibernia Mississippi Queen Steamer Account Account # - 812-502-719 1 December 02 - 31 December 02 Opening Balance - 1 December 02 4,000.00 Receipts --------- 0.00 Total Receipts Disbursements (4,000.00) To Delta Queen Steamboat CO - Hibernia - DQSC Master Cash - Account (812-395-335) --------- (4,000.00) Total Disbursements Closing Balance - 31 December 02 0.00 Concentration & Investment Account Statements Attachment 3 Great Ocean Cruise Line, L.L.C. Summary Case No: 01-10959 (JWV) Great Ocean Cruise Line, LLC For Month Of December, 2002 Attach 3 No Statements Due To No Concentration Or Investment Accounts AMCV US SET OF BOOKS Date: 16-JAN-03 16:50:15 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: DEC-02 currency USD Company=21 (MISSISSIPPI QUEEN) PTD-Actual 31-Dec-02 ------------ Revenue Gross Revenue 0.00 Allowances 0.00 ------------ Net Revenue 0.00 Operating Expenses Air 0.00 Hotel 0.00 Commissions 0.00 Onboard Expenses 0.00 Passenger Expenses 266.12 Vessel Expenses 0.00 Layup/Drydock Expense 0.00 Vessel Insurance 10,139.71 ------------ Total Operating Expenses 10,405.83 ------------ Gross Profit (10,405.83) SG&A Expenses Sales & Marketing 0.00 Start-Up Costs 0.00 ------------ Total SG&A Expenses 0.00 ------------ EBITDA (10,405.83) Depreciation 0.00 ------------ Operating Income (10,405.83) Other Expense/(Income) Interest Income 0.00 Equity in Earnings for Sub 0.00 Reorganization expenses 0.00 Other expense (5,600.90) ------------ Total Other Expense/(Income) (5,600.90) ------------ Net Pretax Income/(Loss) (4,804.93) Income Tax Expense 0.00 ------------ Net Income/(Loss) (4,804.93) ============ AMCV US SET OF BOOKS Date: 20-JAN-03 12:58:40 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: DEC-02 currency USD Company=21 (MISSISSIPPI QUEEN)

YTD-Actual YTD-Actual 31-Dec-02 22-Oct-01 ----------------- ----------------- ASSETS Cash and Equivalent 0.00 91,427.94 Restricted Cash 0.00 0.00 Accounts Receivable 0.00 61,448.42 Inventories 0.00 387,173.50 Prepaid Expenses 0.00 9,438.70 Other Current Assets 0.00 (14,555.00) ----------------- ----------------- Total Current Assets 0.00 534,933.56 Fixed Assets 0.00 32,530,486.54 Accumulated Depreciation 0.00 (22,994,750.57) ----------------- ----------------- Net Fixed Assets 0.00 9,535,735.97 Net Goodwill 0.00 0.00 Intercompany Due To/From 21,315,422.40 19,836,574.32 Net Deferred Financing Fees 0.00 0.00 Net Investment in Subsidiaries 0.00 0.00 ----------------- ----------------- Total Other Assets 21,315,422.40 19,836,574.32 ----------------- ----------------- Total Assets 21,315,422.40 29,907,243.85 ================= =================

AMCV US SET OF BOOKS Date: 20-JAN-03 12:58:40 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: DEC-02 currency USD Company=21 (MISSISSIPPI QUEEN)

YTD-Actual YTD-Actual 31-Dec-02 22-Oct-01 ----------------- ----------------- LIABILITIES Accounts Payable 0.00 9,423.11 Accrued Liabilities 0.00 935,232.90 Deposits 0.00 0.00 ----------------- ----------------- Total Current Liabilities 0.00 944,656.01 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 0.00 ----------------- ----------------- Total Liabilities 0.00 944,656.01 Liabilities Subject to Compromise 2,296,086.22 2,827,647.41 OWNER'S EQUITY Common Stock 0.00 0.00 Add'l Paid In Capital 4,571,000.00 4,571,000.00 Current Net Income (Loss) (6,757,806.54) (984,131.23) Retained Earnings 21,206,142.72 22,548,071.66 ----------------- ----------------- Total Owner's Equity 19,019,336.18 26,134,940.43 ----------------- ----------------- Total Liabilities & Equity 21,315,422.40 29,907,243.85 ================= =================

Great Ocean Cruise Line, LLC ATTACHMENT 6 01-10959 (JWV) Summary List of Due To/Due From Accounts For the Month Ended December 31, 2002

CASE BEGINNING ENDING AFFILIATE NAME NUMBER BALANCE DEBITS CREDITS BALANCE American Classic Voyages Co. 01-10954 29,579,572.10 -- -- 29,579,572.10 AMCV Cruise Operations, Inc. 01-10967 (22,093,131.96) -- -- (22,093,131.96) The Delta Queen Steamboat Co. 01-10970 17,374,876.19 4,000.00 129,631.33 17,249,244.86 DQSB II, Inc. 01-10974 (877.52) -- -- (877.52) Great AQ Steamboat, L.L.C 01-10960 14,507.47 -- -- 14,507.47 Great Pacific NW Cruise Line, L.L.C 01-10977 10,219.55 -- -- 10,219.55 Great River Cruise Line, L.L.C 01-10963 (503,950.75) -- -- (503,950.75) Cruise America Travel, Incorporated 01-10966 (2,953,907.27) -- -- (2,953,907.27) Delta Queen Coastal Voyages, L.L.C 01-10964 85,950.95 -- -- 85,950.95 Cape Cod Light, L.L.C 01-10962 4,980.00 -- -- 4,980.00 Cape May Light, L.L.C 01-10961 1,844.01 -- -- 1,844.01 Project America, Inc. N/A (4,475.20) -- -- (4,475.20) Great Hawaiian Cruise Line, Inc. 01-10975 (37,394.43) -- -- (37,394.43) Great Hawaiian Properties Corporation 01-10971 (34,964.32) -- -- (34,964.32) Great Independence Ship Co. 01-10969 (2,195.09) -- -- (2,195.09) -------------------------------------------------------------------------- 21,441,053.73 4,000.00 129,631.33 21,315,422.40 ==========================================================================

Great Ocean Cruise Line, L.L.C. 01-10959 (JWV) Accounts Receivable Aging As of December 31, 2002 Attachment 7 Not Applicable Great Ocean Cruise Line, L.L.C. 01-10959 (JWV) Accounts Payable Detail As of December 31, 2002 Attachment 8 Not Applicable DEBTOR: GREAT OCEAN CRUISE LINE, L.L.C. CASE NUMBER: 01-10959 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 30, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO DECEMBER MONTHLY OPERATING REPORT The information contained herein is unaudited. Liabilities included in these financial statements reflect amounts known by the Company to have been incurred. The Company has listed in prior filings with the United States Trustee potential additional claims it believes may be asserted against the Company. To the best of the Debtor's knowledge and belief, based on currently available information, all Federal income and payroll taxes due and owing have been paid. 1. The reduction in liabilities subject to compromise was due to a reduction in priority passenger claims. Waivers received by Delaware North Companies were reimbursed from escrowed cash held by The Delta Queen Steamboat Co., an affiliated Debtor, as provided for in the Asset Purchase Agreement dated May 13, 2002. EX-99.3 5 g80291exv99w3.txt GREAT AQ STEAMBOAT DEC.2002 OPERATING REPORT EXHIBIT 99.3 DEBTOR: GREAT AQ STEAMBOAT, L.L.C. CASE NUMBER: 01-10960 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED In accordance with title 28, section 1746, of the United States Code, I declare under penalty of perjury that I have examined the attached December Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ EDDIE J. PUSTIZZI - ---------------------- Eddie J. Pustizzi Director, Accounting DEBTOR: GREAT AQ STEAMBOAT, L.L.C. CASE NUMBER: 01-10960 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED CONTENTS Attachment 1 Summary of Bank and Investment Accounts Attachment 2 Schedule of Receipts and Disbursements Attachment 3 Bank and Investment Account Statements Attachment 4 Income Statement Attachment 5 Balance Sheet Attachment 6 Summary of Due To/Due From Intercompany Accounts Attachment 7 Accounts Receivable Aging Attachment 8 Accounts Payable Detail Attachment 9 Notes to December Monthly Operating Report Summary Of Bank, Investment & Petty Cash Accounts Attachment 1 Great AQ Steamboat, L.L.C. Summary Case No: 01-10960 (JWV) UNAUDITED Great AQ Steamboat, LLC For Month Of December, 2002

Balances -------------------------------- Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 12/01/02 As Of 12/31/02 Included Included Reconciled - ------- -------------- -------------- -------- -------- ---------- American Queen Steamer 0.00 0.00 No - No - No - Hibernia Account Closed Account Closed Account Closed Account # - 812-395-343 American Queen 0.00 0.00 No - Not A Bank No - Petty Cash No Activity Account No Activity

Receipts & Disbursements Attachment 2 Great AQ Steamboat, L.L.C. Case No: 01-10960 (JWV) Great AQ Steamboat, LLC For Month Of December, 2002 Attach 2 No Receipts Or Disbursements Due To All Accounts Closed Concentration & Investment Account Statements Attachment 3 Great AQ Steamboat, L.L.C. Summary Case No: 01-10960 (JWV) Great AQ Steamboat, LLC For Month Of December, 2002 Attach 3 No Statements Due To No Concentration Or Investment Accounts AMCV US SET OF BOOKS Date: 16-JAN-03 16:50:15 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: DEC-02 currency USD Company=23 (AMERICAN QUEEN)

PTD-Actual 31-Dec-02 --------------- Revenue Gross Revenue 0.00 Allowances 0.00 ---------------- Net Revenue 0.00 Operating Expenses Air 0.00 Hotel 0.00 Commissions 0.00 Onboard Expenses 0.00 Passenger Expenses 0.00 Vessel Expenses 0.00 Layup/Drydock Expense 0.00 Vessel Insurance 813.10 ---------------- Total Operating Expenses 813.10 ---------------- Gross Profit (813.10) SG&A Expenses Sales & Marketing 0.00 Start-Up Costs 0.00 ---------------- Total SG&A Expenses 0.00 ---------------- EBITDA (813.10) Depreciation 0.00 ---------------- Operating Income (813.10) Other Expense/(Income) Interest Income 0.00 Equity in Earnings for Sub 0.00 Reorganization expenses 0.00 Other expense (1,774.58) ---------------- Total Other Expense/(Income) (1,774.58) ---------------- Net Pretax Income/(Loss) 961.48 Income Tax Expense 0.00 ---------------- Net Income/(Loss) 961.48 ================

AMCV US SET OF BOOKS Date: 20-JAN-03 12:58:48 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: DEC-02 currency USD Company=23 (AMERICAN QUEEN)

YTD-Actual YTD-Actual 31-Dec-02 22-Oct-01 ----------------- ------------------ ASSETS Cash and Equivalent 0.00 27,915.55 Restricted Cash 0.00 0.00 Accounts Receivable 0.00 100,111.04 Inventories 0.00 436,746.94 Prepaid Expenses 0.00 1,126.00 Other Current Assets 0.00 189,129.97 ----------------- ------------------ Total Current Assets 0.00 755,029.50 Fixed Assets 0.00 76,449,630.83 Accumulated Depreciation 0.00 (23,703,366.77) ----------------- ------------------ Net Fixed Assets 0.00 52,746,264.06 Net Goodwill 0.00 0.00 Intercompany Due To/From 33,291,695.56 11,900,053.46 Net Deferred Financing Fees 0.00 561,110.86 Net Investment in Subsidiaries 0.00 0.00 ----------------- ------------------ Total Other Assets 33,291,695.56 12,461,164.32 ----------------- ------------------ Total Assets 33,291,695.56 65,962,457.88 ================= ==================

AMCV US SET OF BOOKS Date: 20-JAN-03 12:58:48 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: DEC-02 currency USD Company=23 (AMERICAN QUEEN)

YTD-Actual YTD-Actual 31-Dec-02 22-Oct-01 ----------------- ------------------ LIABILITIES Accounts Payable 0.00 5,469.58 Accrued Liabilities 0.00 754,127.79 Deposits 0.00 25.00 ------------------ ------------------- Total Current Liabilities 0.00 759,622.37 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 0.00 ------------------ ------------------- Total Liabilities 0.00 759,622.37 Liabilities Subject to Compromise 2,128,870.73 48,583,115.71 OWNER'S EQUITY Common Stock 1,000.00 1,000.00 Add'l Paid In Capital 4,060,000.00 4,060,000.00 Current Net Income (Loss) 14,727,173.53 (493,470.71) Retained Earnings 12,374,651.30 13,052,190.51 ------------------ ------------------- Total Owner's Equity 31,162,824.83 16,619,719.80 ------------------ ------------------- Total Liabilities & Equity 33,291,695.56 65,962,457.88 ================== ===================

Great AQ Steamboat, LLC ATTACHMENT 6 01-10960(JWV) Summary List of Due To/Due From Accounts For the Month Ended December 31, 2002

CASE BEGINNING ENDING AFFILIATE NAME NUMBER BALANCE DEBITS CREDITS BALANCE American Classic Voyages Co. 01-10954 22,406,500.51 - - 22,406,500.51 AMCV Cruise Operations, Inc. 01-10967 (22,866,931.85) - - (22,866,931.85) The Delta Queen Steamboat Co. 01-10970 38,756,706.53 - 73,062.00 38,683,644.53 DQSB II, Inc. 01-10974 (919.60) - - (919.60) Great Pacific NW Cruise Line, L.L.C. 01-10977 5,552.79 - - 5,552.79 Great River Cruise Line, L.L.C. 01-10963 (168,013.44) - - (168,013.44) Great Ocean Cruise Line, L.L.C. 01-10959 (14,507.47) - - (14,507.47) Cruise America Travel, Incorporated 01-10966 (3,165,198.27) - - (3,165,198.27) Delta Queen Coastal Voyages, L.L.C. 01-10964 144,264.37 - - 144,264.37 Cape Cod Light, L.L.C. 01-10962 (500,000.00) - - (500,000.00) Cape May Light, L.L.C. 01-10961 (1,640,241.44) - - (1,640,241.44) Project America, Inc. N/A (15,864.24) - - (15,864.24) Oceanic Ship Co. N/A (7,408.30) - - (7,408.30) Project America Ship I, Inc. N/A 459,787.19 - - 459,787.19 Great Hawaiian Properties Corporation 01-10971 (22,591.38) - - (22,591.38) American Hawaii Properties Corporation 01-10976 (1,496.24) - - (1,496.24) Great Independence Ship Co. 01-10969 (4,881.60) - - (4,881.60) ---------------------------------------------------------------- 33,364,757.56 - 73,062.00 33,291,695.56 ================================================================

Great AQ Steamboat, L.L.C. 01-10960 (JWV) Accounts Receivable Aging As of December 31, 2002 Attachment 7 Not Applicable Great AQ Steamboat, L.L.C. 01-10960 (JWV) Accounts Payable Detail As of December 31, 2002 Attachment 8 Not Applicable Debtor: Great AQ Steamboat, L.L.C. Case Number: 01-10960 (JWV) Monthly Operating Report As of December 30, 2002 And For the Month Then Ended Attachment 9 Notes to December Monthly Operating Report The information contained herein is unaudited. Liabilities included in these financial statements reflect amounts known by the Company to have been incurred. The Company has listed in prior filings with the United States Trustee potential additional claims it believes may be asserted against the Company. To the best of the Debtor's knowledge and belief, based on currently available information, all Federal income and payroll taxes due and owing have been paid. 1. The reduction in liabilities subject to compromise was due to a reduction in priority passenger claims. Waivers received by Delaware North Companies were reimbursed from escrowed cash held by The Delta Queen Steamboat Co., an affiliated Debtor, as provided for in the Asset Purchase Agreement dated May 13, 2002. EX-99.4 6 g80291exv99w4.txt CAPE MAY LIGHT DEC. 2002 OPERATING REPORT EXHIBIT 99.4 DEBTOR: CAPE MAY LIGHT, L.L.C. CASE NUMBER: 01-10961 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED In accordance with title 28, section 1746, of the United States Code, I declare under penalty of perjury that I have examined the attached December Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ EDDIE J. PUSTIZZI - --------------------- Eddie J. Pustizzi Director, Accounting DEBTOR: CAPE MAY LIGHT, L.L.C. CASE NUMBER: 01-10961 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED CONTENTS Attachment 1 Summary of Bank and Investment Accounts Attachment 2 Schedule of Receipts and Disbursements Attachment 3 Bank and Investment Account Statements Attachment 4 Income Statement Attachment 5 Balance Sheet Attachment 6 Summary of Due To/Due From Intercompany Accounts Attachment 7 Accounts Receivable Aging Attachment 8 Accounts Payable Detail Attachment 9 Notes to December Monthly Operating Report Summary Of Bank,Investment & Petty Cash Accounts Attachment 1 Cape May Light, L.L.C. Summary Case No: 01-10961 (JWV) UNAUDITED Cape May Light, LLC For Month Of December, 2002

Balances --------------------------------- Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 12/01/02 As Of 12/31/02 Included Included Reconciled - ------- -------------- -------------- ------------- ---------- ---------- American Classic Voyages Co. 0.00 0.00 No - No - No - Bank of America Account Account Account Account # - 0030 6982 7205 Closed Closed Closed Cape May Light Escrow 0.00 0.00 No - No - No - US Dept of Transportation Account Account Account Maritime Administration Closed Closed Closed American Classic Voyages Co. 0.00 0.00 No - No - No - Bank of America Account Account Account Account # - 0041 6103 2379 Closed Closed Closed Cape May Light 0.00 0.00 No - No - Not No - Petty Cash No Activity A Bank No Activity Account

Receipts & Disbursements Attachment 2 Cape May Light, L.L.C. Summary Case No: 01-10961 (JWV) Cape May Light, LLC For Month Of December, 2002 Attach 2 No Receipts Or Disbursements Due To No Bank Activity Or Investment Accounts Concentration & Investment Account Statements Attachment 3 Cape May Light, L.L.C. Summary Case No: 01-10961 (JWV) Cape May Light, LLC For Month Of December, 2002 Attach 3 No Statements Due To No Concentration Or Investment Accounts AMCV US SET OF BOOKS Date: 16-JAN-03 16:35:08 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: DEC-02 currency USD Company=31 (CAPE MAY LIGHT) PTD-Actual 31-Dec-02 --------------- Revenue Gross Revenue 0.00 Allowances 0.00 --------------- Net Revenue 0.00 Operating Expenses Air 0.00 Hotel 0.00 Commissions 0.00 Onboard Expenses 0.00 Passenger Expenses 0.00 Vessel Expenses 0.00 Layup/Drydock Expense 0.00 Vessel Insurance 0.00 --------------- Total Operating Expenses 0.00 --------------- Gross Profit 0.00 SG&A Expenses Sales & Marketing 0.00 Start-Up Costs 0.00 --------------- Total SG&A Expenses 0.00 --------------- EBITDA 0.00 Depreciation 0.00 --------------- Operating Income 0.00 Other Expense/(Income) Interest Income 0.00 Equity in Earnings for Sub 0.00 Reorganization expenses 0.00 Other expense (310.00) --------------- Total Other Expense/(Income) (310.00) --------------- Net Pretax Income/(Loss) 310.00 Income Tax Expense 0.00 --------------- Net Income/(Loss) 310.00 =============== AMCV US SET OF BOOKS Date: 20-JAN-03 12:58:57 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: DEC-02 currency USD Company=31 (CAPE MAY LIGHT)

YTD-Actual YTD-Actual 31-Dec-02 22-Oct-01 ------------------- ------------------- ASSETS Cash and Equivalent 0.00 29,003.54 Restricted Cash 0.00 785,839.00 Accounts Receivable 0.00 15,651.15 Inventories 0.00 750,424.74 Prepaid Expenses 0.00 71,343.83 Other Current Assets 0.00 0.00 ------------------- ------------------- Total Current Assets 0.00 1,652,262.26 Fixed Assets 0.00 42,033,338.72 Accumulated Depreciation 0.00 (550,825.00) ------------------- ------------------- Net Fixed Assets 0.00 41,482,513.72 Net Goodwill 0.00 0.00 Intercompany Due To/From (12,554,507.89) (12,278,102.19) Net Deferred Financing Fees 0.00 2,559,333.82 Net Investment in Subsidiaries 0.00 0.00 ------------------- ------------------- Total Other Assets (12,554,507.89) (9,718,768.37) ------------------- ------------------- Total Assets (12,554,507.89) 33,416,007.61 =================== ===================

AMCV US SET OF BOOKS Date: 20-JAN-03 12:58:57 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: DEC-02 currency USD Company=31 (CAPE MAY LIGHT)

YTD-Actual YTD-Actual 31-Dec-02 22-Oct-01 ------------------- ------------------- LIABILITIES Accounts Payable 0.00 18,286.96 Accrued Liabilities 0.00 454,710.16 Deposits 0.00 0.00 ------------------- ------------------- Total Current Liabilities 0.00 472,997.12 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 0.00 ------------------- ------------------- Total Liabilities 0.00 472,997.12 Liabilities Subject to Compromise 39,112,982.41 39,937,580.57 OWNER'S EQUITY Common Stock 0.00 0.00 Add'l Paid In Capital 0.00 0.00 Current Net Income (Loss) (44,577,409.32) (2,857,115.19) Retained Earnings (7,090,080.98) (4,137,454.89) ------------------- ------------------- Total Owner's Equity (51,667,490.30) (6,994,570.08) ------------------- ------------------- Total Liabilities & Equity (12,554,507.89) 33,416,007.61 =================== ===================

ATTTACHMENT 6 Cape May Light, LLC Summary List of Due To/Due From Accounts 01-10961 (JWV) For the Month Ended December 31, 2002

CASE BEGINNING ENDING AFFILIATE NAME NUMBER BALANCE DEBITS CREDITS BALANCE American Classic Voyages Co. 01-10954 656,374.33 -- -- 656,374.33 AMCV Cruise Operations, Inc. 01-10967 (8,127,233.11) -- -- (8,127,233.11) The Delta Queen Steamboat Co. 01-10970 8,431,118.53 -- -- 8,431,118.53 DQSB II, Inc. 01-10974 (82.74) -- -- (82.74) Great AQ Steamboat, L.L.C. 01-10960 1,640,241.44 -- -- 1,640,241.44 Great Pacific NW Cruise Line, L.L.C. 01-10977 (5,380.67) -- -- (5,380.67) Great River Cruise Line, L.L.C. 01-10963 (33,543.95) -- -- (33,543.95) Great Ocean Cruise Line, L.L.C. 01-10959 (1,844.01) -- -- (1,844.01) Cruise America Travel, Incorporated 01-10966 (1,054,561.24) -- -- (1,054,561.24) Delta Queen Coastal Voyages, L.L.C. 01-10964 186,615.38 -- -- 186,615.38 Cape Cod Light, L.L.C. 01-10962 (8,675.31) -- -- (8,675.31) Project America, Inc. N/A (57,268.50) -- -- (57,268.50) Oceanic Ship Co. N/A 13,839.73 -- -- 13,839.73 Project America Ship II, Inc. N/A 412,316.64 -- -- 412,316.64 Ocean Development Co. 01-10972 (14,604,239.22) -- -- (14,604,239.22) Great Hawaiian Cruise Line, Inc. 01-10975 (8,411.75) -- -- (8,411.75) Great Hawaiian Properties Corporation 01-10971 4,188.00 -- -- 4,188.00 CAT II, Inc. 01-10968 2,038.56 -- -- 2,038.56 ----------------------------------------------------------------------------- (12,554,507.89) -- -- (12,554,507.89) =============================================================================

Cape May Light, LLC 01-10961 (JWV) Accounts Receivable Aging As of December 31, 2002 Attachment 7 Not Applicable Cape May Light, LLC 01-10961 (JWV) Accounts Payable Detail As of December 31, 2002 Attachment 8 Not Applicable DEBTOR: CAPE MAY LIGHT, LLC CASE NUMBER: 01-10961 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 30, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO DECEMBER MONTHLY OPERATING REPORT The information contained herein is unaudited. Liabilities included in these financial statements reflect amounts known by the Company to have been incurred. The Company has listed in prior filings with the United States Trustee potential additional claims it believes may be asserted against the Company. To the best of the Debtor's knowledge and belief, based on currently available information, all Federal income and payroll taxes due and owing have been paid. EX-99.5 7 g80291exv99w5.txt CAPE COD LIGHT DEC. 2002 OPERATING REPORT Debtor: Cape Cod Light, L.L.C. Case Number: 01-10962 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED In accordance with title 28, section 1746, of the United States Code, I declare under penalty of perjury that Cape Code Light, LLC was inactive for the above referenced period and, to the best of my knowledge, the foregoing is true and correct. /s/ EDDIE J. PUSTIZZI - -------------------------- Eddie J. Pustizzi Director, Accounting EX-99.6 8 g80291exv99w6.txt GREAT RIVER CRUISE DEC. 2002 OPERATING REPORT EXHIBIT 99.6 DEBTOR: GREAT RIVER CRUISE LINE, L.L.C. CASE NUMBER: 01-10963 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED In accordance with title 28, section 1746, of the United States Code, I declare under penalty of perjury that I have examined the attached December Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ EDDIE J. PUSTIZZI - ----------------------- Eddie J. Pustizzi Director, Accounting DEBTOR: GREAT RIVER CRUISE LINE, L.L.C. CASE NUMBER: 01-10963 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED CONTENTS Attachment 1 Summary of Bank and Investment Accounts Attachment 2 Schedule of Receipts and Disbursements Attachment 3 Bank and Investment Account Statements Attachment 4 Income Statement Attachment 5 Balance Sheet Attachment 6 Summary of Due To/Due From Intercompany Accounts Attachment 7 Accounts Receivable Aging Attachment 8 Accounts Payable Detail Attachment 9 Notes to December Monthly Operating Report Summary Of Bank, Investment & Petty Cash Accounts Attachment 1 Great River Cruise Line, L.L.C. Summary Case No: 01-10963 (JWV) UNAUDITED Great River Cruise Line, LLC For Month Of December, 2002

Balances ------------------------------- Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 12/01/02 As Of 12/31/02 Included Included Reconciled - ------- -------------- -------------- -------- -------- ---------- Delta Queen Steamer 500.50 0.00 Yes No - Not Yes Hibernia Concentration Account # - 812-395-270 Account Delta Queen 0.00 0.00 No - Not A Bank No Petty Cash No Activity Account

Receipts & Disbursements Attachment 2 Great River Cruise Line, L.L.C. R&D - Hibernia - DQ Steamer Case No: 01-10963 (JWV) UNAUDITED Hibernia Delta Queen Steamer Account # - 812-395-270 1 December 02 - 31 December 02 Opening Balance - 1 December 02 500.50 Receipts ------- 0.00 Total Receipts Disbursements (500.50) To Delta Queen Steamboat CO - Hibernia - DQSC Master Cash - Account (812-395-335) ------- (500.50) Total Disbursements Closing Balance - 31 December 02 0.00 Concentration & Investment Account Statements Attachment 3 Great River Cruise Line, L.L.C. Summary Case No: 01-10963 (JWV) Great River Cruise Line, LLC For Month Of December, 2002 Attach 3 No Statements Due To No Concentration Or Investment Accounts AMCV US SET OF BOOKS Date: 16-JAN-03 16:50:15 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: DEC-02 currency USD Company=22 (DELTA QUEEN)

PTD-Actual 31-Dec-02 --------------- Revenue Gross Revenue 0.00 Allowances 0.00 --------------- Net Revenue 0.00 Operating Expenses Air 0.00 Hotel 0.00 Commissions 0.00 Onboard Expenses 0.00 Passenger Expenses 100.00 Vessel Expenses 0.00 Layup/Drydock Expense 0.00 Vessel Insurance 4,370.90 --------------- Total Operating Expenses 4,470.90 --------------- Gross Profit (4,470.90) SG&A Expenses Sales & Marketing 0.00 Start-Up Costs 0.00 --------------- Total SG&A Expenses 0.00 --------------- EBITDA (4,470.90) Depreciation 0.00 --------------- Operating Income (4,470.90) Other Expense/(Income) Interest Income 0.00 Equity in Earnings for Sub 0.00 Reorganization expenses 0.00 Other expense (792.82) --------------- Total Other Expense/(Income) (792.82) --------------- Net Pretax Income/(Loss) (3,678.08) Income Tax Expense 0.00 --------------- Net Income/(Loss) (3,678.08) ===============

AMCV US SET OF BOOKS Date: 20-JAN-03 12:59:02 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: DEC-02 currency USD Company=22 (DELTA QUEEN)

YTD-Actual YTD-Actual 31-Dec-02 22-Oct-01 -------------- ------------- ASSETS Cash and Equivalent 0.00 64,522.98 Restricted Cash 0.00 0.00 Accounts Receivable 0.00 33,451.42 Inventories 0.00 270,331.59 Prepaid Expenses 0.00 37,922.40 Other Current Assets 0.00 14,555.00 ---------------- ------------- Total Current Assets 0.00 420,783.39 Fixed Assets 0.00 27,296,694.44 Accumulated Depreciation 0.00 15,065,339.51) ---------------- ------------- Net Fixed Assets 0.00 12,231,354.93 Net Goodwill 0.00 0.00 Intercompany Due To/From (6,394,138.15) (9,202,583.95) Net Deferred Financing Fees 0.00 0.00 Net Investment in Subsidiaries 0.00 0.00 ---------------- ------------- Total Other Assets (6,394,138.15) (9,202,583.95) ---------------- ------------- Total Assets (6,394,138.15) 3,449,554.37 ================ =============

AMCV US SET OF BOOKS Date: 20-JAN-03 12:59:02 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: DEC-02 currency USD Company=22 (DELTA QUEEN)

YTD-Actual YTD-Actual 31-Dec-02 22-Oct-01 --------------- -------------- LIABILITIES Accounts Payable 0.00 5,758.93 Accrued Liabilities 0.00 715,443.75 Deposits 0.00 2,045,629.83 ---------------- ------------------- Total Current Liabilities 0.00 2,766,832.51 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 0.00 ---------------- ------------------- Total Liabilities 0.00 2,766,832.51 Liabilities Subject to Compromise 530,832.95 490,370.44 OWNER'S EQUITY Common Stock 0.00 0.00 Add'l Paid In Capital 3,701,000.00 3,701,000.00 Current Net Income (Loss) (7,539,992.65) (2,206,220.03) Retained Earnings (3,085,978.45) (1,302,428.55) ---------------- ------------------- Total Owner's Equity (6,924,971.10) 192,351.42 ---------------- ------------------- Total Liabilities & Equity (6,394,138.15) 3,449,554.37 ================ ===================

Great River Cruise Line, LLC ATTACHMENT 6 01-10963 (JWV) Summary List of Due To/Due From Accounts For the Month Ended December 31, 2002

CASE BEGINNING ENDING AFFILIATE NAME NUMBER BALANCE DEBITS CREDITS BALANCE American Classic Voyages Co. 01-10954 (6,704,338.25) - - (6,704,338.25) AMCV Cruise Operations, Inc. 01-10967 (9,463,658.43) - - (9,463,658.43) The Delta Queen Steamboat Co. 01-10970 10,520,537.68 500.50 14,268.90 10,506,769.28 DQSB II, Inc. 01-10974 (367.05) - - (367.05) Great AQ Steamboat, L.L.C. 01-10960 168,013.44 - - 168,013.44 Great Pacific NW Cruise Line, L.L.C. 01-10977 4,812.08 - - 4,812.08 Great Ocean Cruise Line, L.L.C. 01-10959 503,950.75 - - 503,950.75 Cruise America Travel, Incorporated 01-10966 (1,419,142.24) - - (1,419,142.24) Delta Queen Coastal Voyages, L.L.C. 01-10964 18,978.71 - - 18,978.71 Cape Cod Light, L.L.C. 01-10962 (270.05) - - (270.05) Cape May Light, L.L.C. 01-10961 33,543.95 - - 33,543.95 Project America, Inc. N/A (11,144.65) - - (11,144.65) Oceanic Ship Co. N/A (257.75) - - (257.75) Great Hawaiian Cruise Line, Inc. 01-10975 (60.73) - - (60.73) Great Hawaiian Properties Corporation 01-10971 (41,555.00) - - (41,555.00) American Hawaii Properties Corporation 01-10976 9,562.38 - - 9,562.38 CAT II, Inc. 01-10968 1,025.41 - - 1,025.41 ---------------------------------------------------------------------------- (6,380,369.75) 500.50 14,268.90 (6,394,138.15) ============================================================================

Great River Cruise Line, L.L.C. 01-10963 (JWV) Accounts Receivable Aging As of December 31, 2002 Attachment 7 Not Applicable Great River Cruise Line, L.L.C. 01-10963 (JWV) Accounts Payable Detail As of December 31, 2002 Attachment 8 Not Applicable DEBTOR: GREAT RIVER CRUISE LINE, L.L.C. CASE NUMBER: 01-10963 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 30, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO DECEMBER MONTHLY OPERATING REPORT The information contained herein is unaudited. Liabilities included in these financial statements reflect amounts known by the Company to have been incurred. The Company has listed in prior filings with the United States Trustee potential additional claims it believes may be asserted against the Company. To the best of the Debtor's knowledge and belief, based on currently available information, all Federal income and payroll taxes due and owing have been paid. 1. The reduction in liabilities subject to compromise was due to a reduction in priority passenger claims. Waivers received by Delaware North Companies were reimbursed from escrowed cash held by The Delta Queen Steamboat Co., an affilated Debtor, as provided for in the Asset Purchase Agreement dated May 13, 2002. EX-99.7 9 g80291exv99w7.txt DELTA QUEEN COASTAL DEC.2002 OPERATING REPORT EXHIBIT 99.7 DEBTOR: DELTA QUEEN COASTAL VOYAGES, L.L.C. CASE NUMBER: 01-10964 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED In accordance with title 28, section 1746, of the United States Code, I declare under penalty of perjury that I have examined the attached December Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ EDDIE J. PUSTIZZI - ------------------------- Eddie J. Pustizzi Director, Accounting DEBTOR: DELTA QUEEN COASTAL VOYAGES, L.L.C. CASE NUMBER: 01-10964 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED CONTENTS Attachment 1 Summary of Bank and Investment Accounts Attachment 2 Schedule of Receipts and Disbursements Attachment 3 Bank and Investment Account Statements Attachment 4 Income Statement Attachment 5 Balance Sheet Attachment 6 Summary of Due To/Due From Intercompany Accounts Attachment 7 Accounts Receivable Aging Attachment 8 Accounts Payable Detail Attachment 9 Notes to December Monthly Operating Report Summary Of Bank And Investment Accounts Attachment 1 Delta Queen Coastal Voyages, L.L.C. Summary Case No: 01-10964 (JWV) UNAUDITED Delta Queen Coastal Voyages, LLC For Month Of December, 2002

Balances --------------------------------- Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 12/01/02 As Of 12/31/02 Included Included Reconciled - ------- -------------- -------------- -------- -------- ---------- No Bank Or Investment NA NA NA NA NA Accounts

Receipts & Disbursements Attachment 2 Delta Queen Coastal Voyages, L.L.C. Summary Case No: 01-10964 (JWV) Delta Queen Coastal Voyages, LLC For Month Of December, 2002 Attach 2 No Receipts Or Disbursements Due To No Bank Or Investment Accounts Concentration & Investment Account Statements Attachment 3 Delta Queen Coastal Voyages, L.L.C. Summary Case No: 01-10964 (JWV) Delta Queen Coastal Voyages, LLC For Month Of December, 2002 Attach 3 No Statements Due To No Concentration Or Investment Accounts AMCV US SET OF BOOKS Date: 16-JAN-03 16:52:22 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: DEC-02 currency USD Company=30 (DELTA QUEEN COAST VOY)

PTD-Actual 31-Dec-02 --------------- Revenue Gross Revenue 0.00 Allowances 0.00 --------------- Net Revenue 0.00 Operating Expenses Air 0.00 Hotel 0.00 Commissions 0.00 Onboard Expenses 0.00 Passenger Expenses 0.00 Vessel Expenses 0.00 Layup/Drydock Expense 0.00 Vessel Insurance 0.00 --------------- Total Operating Expenses 0.00 --------------- Gross Profit 0.00 SG&A Expenses Sales & Marketing 0.00 Start-Up Costs 0.00 --------------- Total SG&A Expenses 0.00 --------------- EBITDA 0.00 Depreciation 0.00 --------------- Operating Income 0.00 Other Expense/(Income) Interest Income 0.00 Equity in Earnings for Sub 306.90 Reorganization expenses 0.00 --------------- Total Other Expense/(Income) (306.90) --------------- Net Pretax Income/(Loss) 306.90 Income Tax Expense 2,896,625.10 --------------- Net Income/(Loss) (2,896,318.20) ===============

AMCV US SET OF BOOKS Date: 20-JAN-03 12:59:00 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: DEC-02 currency USD Company=30 (DELTA QUEEN COAST VOY)

YTD-Actual YTD-Actual 31-Dec-02 22-Oct-01 ---------------- ---------------- ASSETS Cash and Equivalent 0.00 0.00 Restricted Cash 0.00 0.00 Accounts Receivable 0.00 0.00 Inventories 0.00 0.00 Prepaid Expenses 0.00 0.00 Other Current Assets 0.00 0.00 ---------------- ---------------- Total Current Assets 0.00 0.00 Fixed Assets 0.00 0.00 Accumulated Depreciation 0.00 0.00 ---------------- ---------------- Net Fixed Assets 0.00 0.00 Net Goodwill 0.00 0.00 Intercompany Due To/From (412,107.06) (411,482.06) Net Deferred Financing Fees 0.00 0.00 Net Investment in Subsidiaries (95,932,230.58) (12,652,491.22) ---------------- ---------------- Total Other Assets (96,344,337.64) (13,063,973.28) ---------------- ---------------- Total Assets (96,344,337.64) (13,063,973.28) ================ ================

AMCV US SET OF BOOKS Date: 20-JAN-03 12:59:00 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: DEC-02 currency USD Company=30 (DELTA QUEEN COAST VOY)

YTD-Actual YTD-Actual 31-Dec-02 22-Oct-01 ------------------- ------------------- LIABILITIES Accounts Payable 0.00 0.00 Accrued Liabilities 0.00 0.00 Deposits 0.00 0.00 ------------------- ------------------- Total Current Liabilities 0.00 0.00 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 (2,896,625.10) ------------------- ------------------- Total Liabilities 0.00 (2,896,625.10) Liabilities Subject to Compromise 0.00 0.00 OWNER'S EQUITY Common Stock 0.00 0.00 Add'l Paid In Capital 0.00 0.00 Current Net Income (Loss) (85,482,693.35) (6,703,754.04) Retained Earnings (10,861,644.29) (3,463,594.14) ------------------- ------------------- Total Owner's Equity (96,344,337.64) (10,167,348.18) ------------------- ------------------- Total Liabilities & Equity (96,344,337.64) (13,063,973.28) =================== ===================

DEBTOR: DELTA QUEEN COASTAL VOYAGES, LLC CASE NUMBER: 01-10964 (JWV) ATTACHMENT 6 Summary List of Due To/Due From Accounts For the Month Ended December 31, 2002

CASE BEGINNING ENDING AFFILIATE NAME NUMBER BALANCE DEBITS CREDITS BALANCE American Classic Voyages Co. 01-10954 (934,299.38) -- -- (934,299.38) AMCV Cruise Operations, Inc. 01-10967 190,721.38 -- -- 190,721.38 The Delta Queen Steamboat Co. 01-10970 880,428.81 -- -- 880,428.81 Great AQ Steamboat, L.L.C 01-10960 (144,264.37) -- -- (144,264.37) Great Pacific NW Cruise Line, L.L.C 01-10977 (118,887.26) -- -- (118,887.26) Great River Cruise Line, L.L.C 01-10963 (18,978.71) -- -- (18,978.71) Great Ocean Cruise Line, L.L.C 01-10959 (85,950.95) -- -- (85,950.95) Cape Cod Light, L.L.C 01-10962 5,738.80 -- -- 5,738.80 Cape May Light, L.L.C 01-10961 (186,615.38) -- -- (186,615.38) -------------------------------------------------------------------- (412,107.06) -- -- (412,107.06) ====================================================================

Delta Queen Coastal Voyages, LLC 01-10964 (JWV) Accounts Receivable Aging As of December 31, 2002 Attachment 7 Not Applicable Delta Queen Coastal Voyages, LLC 01-10964 (JWV) Accounts Payable Detail As of December 31, 2002 Attachment 8 Not Applicable DEBTOR: DELTA QUEEN COASTAL VOYAGES, LLC CASE NUMBER: 01-10964 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 30, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO DECEMBER MONTHLY OPERATING REPORT The information contained herein is unaudited. Liabilities included in these financial statements reflect amounts known by the Company to have been incurred. The Company has listed in prior filings with the United States Trustee potential additional claims it believes may be asserted against the Company. To the best of the Debtor's knowledge and belief, based on currently available information, all Federal income and payroll taxes due and owing have been paid. 1. Other long-term liabilities had consisted of deferred tax assets and liabilities, net. Deferred tax assets and liabilities had been recognized for the expected future tax consequences of temporary differences between carrying amounts and the tax basis of assets and liabilities. The Debtor adjusted the recorded amounts to zero based upon the expected outcome of Chapter 11 proceedings. EX-99.8 10 g80291exv99w8.txt DQSC PROPERTY CO. DEC.2002 OPERATING REPORT EXHIBIT 99.8 DEBTOR: DQSC PROPERTY CO. CASE NUMBER: 01-10965 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED In accordance with title 28, section 1746, of the United States Code, I declare under penalty of perjury that DQSC Property Co. was inactive for the above referenced period and, to the best of my knowledge, the foregoing is true and correct. /s/ EDDIE J. PUSTIZZI - ------------------------- Eddie J. Pustizzi Director, Accounting EX-99.9 11 g80291exv99w9.txt CRUISE AMERICAN TRAVEL DEC.2002 OPERATING REPORT EXHIBIT 99.9 DEBTOR: CRUISE AMERICA TRAVEL, INCORPORATED CASE NUMBER: 01-10966 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED In accordance with title 28, section 1746, of the United States Code, I declare under penalty of perjury that I have examined the attached December Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ EDDIE J. PUSTIZZI - -------------------------- Eddie J. Pustizzi Director, Accounting DEBTOR: CRUISE AMERICA TRAVEL, INCORPORATED CASE NUMBER: 01-10966 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED CONTENTS Attachment 1 Summary of Bank and Investment Accounts Attachment 2 Schedule of Receipts and Disbursements Attachment 3 Bank and Investment Account Statements Attachment 4 Income Statement Attachment 5 Balance Sheet Attachment 6 Summary of Due To/Due From Intercompany Accounts Attachment 7 Accounts Receivable Aging Attachment 8 Accounts Payable Detail Attachment 9 Notes to December Monthly Operating Report Summary Of Bank And Investment Accounts Attachment 1 Cruise America Travel, Incorporated Case No: 01-10966 (JWV) UNAUDITED Summary For Month Of December, 2002 Cruise America Travel, Incorporated

Balances --------------------------------- Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 12/01/02 As Of 12/31/02 Included Included Reconciled - ------- -------------- -------------- ------------- ---------- ---------- No Bank Or Investment NA NA NA NA NA Accounts

Receipts & Disbursements Attachment 2 Cruise America Travel, Incorporated Summary Case No: 01-10966 (JWV) Cruise America Travel, Incorporated For Month Of December, 2002 Attach 2 No Receipts Or Disbursements Due To No Bank Or Investment Accounts Concentration & Investment Account Statements Attachment 3 Cruise America Travel, Incorporated Summary Case No: 01-10966 (JWV) Cruise America Travel, Incorporated For Month Of December, 2002 Attach 3 No Statements Due To No Concentration Or Investment Accounts AMCV US SET OF BOOKS Date: 16-JAN-03 16:50:20 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: DEC-02 currency USD Company=29 (CAT - DQSC)

PTD-Actual 31-Dec-02 -------------- Revenue Gross Revenue 0.00 Allowances 0.00 -------------- Net Revenue 0.00 Operating Expenses Air 0.00 Hotel 0.00 Commissions 0.00 Onboard Expenses 0.00 Passenger Expenses 0.00 Vessel Expenses 0.00 Layup/Drydock Expense 0.00 Vessel Insurance 0.00 -------------- Total Operating Expenses 0.00 -------------- Gross Profit 0.00 SG&A Expenses Sales & Marketing 0.00 Start-Up Costs 0.00 -------------- Total SG&A Expenses 0.00 -------------- EBITDA 0.00 Depreciation 0.00 -------------- Operating Income 0.00 Other Expense/(Income) Interest Income 0.00 Equity in Earnings for Sub 0.00 Reorganization expenses 0.00 -------------- Total Other Expense/(Income) 0.00 -------------- Net Pretax Income/(Loss) 0.00 Income Tax Expense 1,591,053.16) -------------- Net Income/(Loss) 1,591,053.16 ==============

AMCV US SET OF BOOKS Date: 20-JAN-03 12:59:07 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: DEC-02 currency USD Company=29 (CAT - DQSC)

YTD-Actual YTD-Actual 31-Dec-02 22-Oct-01 -------------- ------------ ASSETS Cash and Equivalent 0.00 0.00 Restricted Cash 0.00 0.00 Accounts Receivable 0.00 19,582.06 Inventories 0.00 0.00 Prepaid Expenses 0.00 565,863.67 Other Current Assets 0.00 0.00 --------------- --------------- Total Current Assets 0.00 585,445.73 Fixed Assets 0.00 0.00 Accumulated Depreciation 0.00 0.00 --------------- --------------- Net Fixed Assets 0.00 0.00 Net Goodwill 0.00 0.00 Intercompany Due To/From 5,172,702.34 4,474,118.72 Net Deferred Financing Fees 0.00 0.00 Net Investment in Subsidiaries 0.00 0.00 --------------- --------------- Total Other Assets 5,172,702.34 4,474,118.72 --------------- --------------- Total Assets 5,172,702.34 5,059,564.45 =============== ===============

AMCV US SET OF BOOKS Date: 20-JAN-03 12:59:07 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: DEC-02 currency USD Company=29 (CAT - DQSC)

YTD-Actual YTD-Actual 31-Dec-02 22-Oct-01 -------------- ------------ LIABILITIES Accounts Payable 0.00 0.00 Accrued Liabilities 0.00 0.00 Deposits 0.00 0.00 --------------- --------------- Total Current Liabilities 0.00 0.00 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 1,591,053.16 --------------- --------------- Total Liabilities 0.00 1,591,053.16 Liabilities Subject to Compromise 0.00 5,731.15 OWNER'S EQUITY Common Stock 0.00 0.00 Add'l Paid In Capital 50,000.00 50,000.00 Current Net Income (Loss) 1,581,661.84 591,526.60 Retained Earnings 3,541,040.50 2,821,253.54 --------------- --------------- Total Owner's Equity 5,172,702.34 3,462,780.14 --------------- --------------- Total Liabilities & Equity 5,172,702.34 5,059,564.45 =============== ===============

Crusie America Travel, Incorporated ATTACHMENT 6 01-10966 (JWW) Summary List of Due to/Due From Accounts For the Month Ended December 31, 2002

CASE BEGINNING ENDING AFFILIATE NAME NUMBER BALANCE DEBITS CREDITS BALANCE American Classic Voyages Co. 01-10954 (103,377.71) -- -- (103,377.71) AMCV Cruise Operations, Inc. 01-10967 (4,057,165.15) -- -- (4,057,165.15) The Delta Queen Steamboat Co. 01-10970 (256,503.82) 256,291.69 -- (212.13) Great AQ Steamboat, L.L.C. 01-10960 3,165,198.27 -- -- 3,165,198.27 Great Pacific NW Cruise Line, L.L.C. 01-10977 674,733.24 -- -- 674,733.24 Great River Cruise Line, L.L.C. 01-10963 1,419,142.24 -- -- 1,419,142.24 Great Ocean Cruise Line, L.L.C. 01-10959 2,953,907.27 -- -- 2,953,907.27 Cape Cod Light, L.L.C. 01-10962 2,706.08 -- -- 2,706.08 Cape May Light, L.L.C. 01-10961 1,054,561.24 -- -- 1,054,561.24 Oceanic Ship Co. N/A 6,631.08 -- -- 6,631.08 Ocean Development Co. 01-10972 15,996.19 -- -- 15,996.19 American Hawaii Properties Corporation 01-10976 1,126.92 -- -- 1,126.92 Great Independence Ship Co. 01-10969 16,321.27 -- -- 16,321.27 CAT II, Inc. 01-10968 23,133.53 -- -- 23,133.53 ------------------------------------------------------------------------ 4,916,410.65 256,291.69 -- 5,172,702.34 ========================================================================

Cruise America Travel, Incorporated 01-10966 (JWV) Accounts Receivable Aging As of December 31, 2002 Attachment 7 Not Applicable Cruise America Travel, Incorporated 01-10966 (JWV) Accounts Payable Detail As of December 31, 2002 Attachment 8 Not Applicable DEBTOR: CRUISE AMERICA TRAVEL, INCORPORATED CASE NUMBER: 01-10966 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 30, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO DECEMBER MONTHLY OPERATING REPORT The information contained herein is unaudited. Liabilities included in these financial statements reflect amounts known by the Company to have been incurred. The Company has listed in prior filings with the United States Trustee potential additional claims it believes may be asserted against the Company. To the best of the Debtor's knowledge and belief, based on currently available information, all Federal income and payroll taxes due and owing have been paid. 1. Other long-term liabilities had consisted of deferred tax assets and liabilities, net. Deferred tax assets and liabilities had been recognized for the expected future tax consequences of temporary differences between carrying amounts and the tax basis of assets and liabilities. The Debtor adjusted the recorded amounts to zero based upon the expected outcome of Chapter 11 proceedings. 2. The Debtor reclassed unused, pre-petition pre-paid airline tickets to offset related claims filed against AMCV Cruise Operations, an affiliated Debtor. EX-99.10 12 g80291exv99w10.txt AMCV CRUISE OPERATIONS DEC.2002 OPERATING REPORT EXHIBIT 99.10 DEBTOR: AMCV CRUISE OPERATIONS, INC. CASE NUMBER: 01-10967 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED In accordance with title 28, section 1746, of the United States Code, I declare under penalty of perjury that I have examined the attached December Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ EDDIE J. PUSTIZZI - ---------------------- Eddie J. Pustizzi Director, Accounting Debtor: AMCV Cruise Operations, Inc. Case Number: 01-10967 (JWV) Monthly Operating Report As of December 31, 2002 And For the Month Then Ended CONTENTS Attachment 1 Summary of Bank and Investment Accounts Attachment 2 Schedule of Receipts and Disbursements Attachment 3 Bank and Investment Account Statements Attachment 4 Income Statement Attachment 5 Balance Sheet Attachment 6 Summary of Due To/Due From Intercompany Accounts Attachment 7 Accounts Receivable Aging Attachment 8 Accounts Payable Detail Attachment 9 Notes to December Monthly Operating Report Summary Of Bank,Investment & Petty Cash Accounts Attachment 1 AMCV Cruise Operations, Inc. Summary Case No: 01-10967 (JWV) UNAUDITED AMCV Cruise Operations, Inc For Month Of December, 2002

Balances ------------------------------ Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 12/01/02 As Of 12/31/02 Included Included Reconciled - ------- -------------- -------------- -------- -------- ---------- AHC - Certificate Of Deposit * 25,000.00 0.00 Yes No - Not Yes Bank One Concentration Account # - 880058451981 Account AHC - Certificate Of Deposit * 25,000.00 0.00 Yes No - Not Yes Bank One Concentration Account # - 880058452369 Account AMCV Cruise Ops 99,358.59 270,542.27 Yes Yes Yes Master Cash First Union National Bank Account # - 2090002602362 AMCV Escrow - Gohagan 0.00 0.00 No - No - Not No - LaSalle Bank Account Concentration Account Account # - 62-8766-40-4 closed Account closed American Classic Voyages 0.00 0.00 No - No - No - Fleet Bank Account Account Account Account # - 941-9148945 closed closed closed Weston Office 353.45 278.45 Yes Not A Bank Yes Petty Cash Account

* Proceeds From Matured Certficates Of Deposit Were Recovered By Bank One As Collateral For Letters Of Credits That Were Exercised After The Filing For Bankruptcy. Receipts & Disbursements Attachment 2-1 AMCV Cruise Operations, Inc. R&D - Bank One - AHC CD (86) Case No: 01-10967 (JWV) UNAUDITED Bank One AHC Certificate Of Deposit Account # - 880058451981 1 December 02 - 31 December 02 Opening Balance - 1 December 02 25,000.00 Receipts ---------- 0.00 Total Receipts Disbursements (25,000.00) Recovered by Bank One as collateral for exercised LOC ---------- (25,000.00) Total Disbursements Closing Balance - 31 December 02 0.00 Receipts & Disbursements Attachment 2-2 AMCV Cruise Operations, Inc. R&D - Bank One - AHC CD (87) Case No: 01-10967 (JWV) UNAUDITED Bank One AHC Certificate Of Deposit Account # - 880058451981 1 December 02 - 31 December 02 Opening Balance - 1 December 02 25,000.00 Receipts ---------- 0.00 Total Receipts Disbursements (25,000.00) Recovered by Bank One as collateral for exercised LOC ---------- (25,000.00) Total Disbursements Closing Balance - 31 December 02 0.00 Receipts & Disbursements Attachment 2-3 AMCV Cruise Operations, Inc. R&D - First Union Case No: 01-10967 (JWV) UNAUDITED AMCV Cruise Ops Master Cash First Union AMCV Cruise Ops Master Cash Account # - 2090002602362 1 December 02 - 31 December 02 Opening Balance - 1 December 02 99,358.59 Receipts 123,630.00 Refund of unexpired vessel insurance premiums 47,553.68 Refund of 1996-1998 Lousiana State Unemployment Tax ---------- 171,183.68 Total Receipts Disbursements 0.00 Bank Fees ---------- 0.00 Total Disbursements Closing Balance - 31 December 02 270,542.27 Receipts & Disbursements Attachment 2-4 AMCV Cruise Operations, Inc. Case No: 01-10967 (JWV) UNAUDITED Petty Cash Weston Office Petty Cash Account # - NA 1 December 02 - 31 December 02 Opening Balance - 1 December 02 353.45 Receipts 0.00 Deposit ------ 0.00 Total Receipts Disbursements (75.00) Cleaning Services Office Supplies (Toner, Year end tax forms) Sundries Miscellaneous Supplies ------ (75.00) Total Disbursements Closing Balance - 31 December 02 278.45 AMCV US SET OF BOOKS Date: 17-JAN-03 10:31:54 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: DEC-02 currency USD Company=15 (AMCV OPS) PTD-Actual 31-Dec-02 --------------- Revenue Gross Revenue 0.00 Allowances 0.00 ----------------- Net Revenue 0.00 Operating Expenses Air 0.00 Hotel 0.00 Commissions 0.00 Onboard Expenses 0.00 Passenger Expenses 0.00 Vessel Expenses 0.00 Layup/Drydock Expense 0.00 Vessel Insurance 0.00 ----------------- Total Operating Expenses 0.00 ----------------- Gross Profit 0.00 SG&A Expenses General and Admin Expenses (2,759.57) Sales & Marketing 0.00 Start-Up Costs 0.00 ----------------- Total SG&A Expenses (2,759.57) ----------------- EBITDA 2,759.57 Depreciation 0.00 ----------------- Operating Income 2,759.57 Other Expense/(Income) Interest Income 0.00 Equity in Earnings for Sub (9,610,722.67) Reorganization expenses 0.00 Other expense (22,454.01) ----------------- Total Other Expense/(Income) 9,588,268.66 ----------------- Net Pretax Income/(Loss) (9,585,509.09) Income Tax Expense 0.00 ----------------- Net Income/(Loss) (9,585,509.09) ================= AMCV US SET OF BOOKS Date: 20-JAN-03 12:59:10 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: DEC-02 currency USD Company=15 (AMCV OPS)

YTD-Actual YTD-Actual 31-Dec-02 22-Oct-01 --------------- ------------ ASSETS Cash and Equivalent 142,339.56 1,723,947.86 Restricted Cash 450,000.00 219,000.00 Marketable Securities 0.00 50,000.00 Accounts Receivable 0.00 99,684.62 Inventories 0.00 0.00 Prepaid Expenses 205,784.54 522,662.13 Other Current Assets 3,600.00 1,750.00 --------------- -------------- Total Current Assets 801,724.10 2,617,044.61 Fixed Assets 0.00 9,371,627.23 Accumulated Depreciation 0.00 (453,764.30) --------------- -------------- Net Fixed Assets 0.00 8,917,862.93 Net Goodwill 0.00 0.00 Intercompany Due To/From (7,474,497.53) 2,150,807.43 Net Deferred Financing Fees 0.00 0.00 Net Investment in Subsidiaries (531,371,105.37) 66,329,274.35 --------------- -------------- Total Other Assets (538,845,602.90) 68,480,081.78 --------------- -------------- Total Assets (538,043,878.80) 80,014,989.32 =============== ==============

AMCV US SET OF BOOKS Date: 20-JAN-03 12:59:10 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: DEC-02 currency USD Company=15 (AMCV OPS) YTD-Actual YTD-Actual 31-Dec-02 22-Oct-01 --------------- ------------- LIABILITIES Accounts Payable 0.00 5,363.60 Accrued Liabilities 16,495.42 289,488.87 Deposits 0.00 0.00 --------------- ------------- Total Current Liabilities 16,495.42 294,852.47 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 0.00 --------------- ------------- Total Liabilities 16,495.42 294,852.47 Liabilities Subject to Compromise 27,147,484.48 32,307,000.02 OWNER'S EQUITY Common Stock 10,440.25 10,440.25 Add'l Paid In Capital 112,772,392.56 112,772,392.56 Current Net Income (Loss) (610,229,557.94) (37,037,717.81) Retained Earnings (67,761,133.57) (28,331,978.17) --------------- ------------- Total Owner's Equity (565,207,858.70) 47,413,136.83 --------------- ------------- Total Liabilities & Equity (538,043,878.80) 80,014,989.32 =============== ============= AMCV Cruise Operations ATTACHMENT 6 01-10967 (JWV) Summary List of Due To/Due From Accounts For the Months Ended December 31, 2002

CASE BEGINNING ENDING AFFILIATE NAME NUMBER BALANCE DEBITS CREDITS BALANCE American Classic Voyages Co. 01-10954 (81,720,746.28) 642,560.85 32,230.15 (81,110,415.58) AMCV Holdings, Inc. 01-10973 (201,071.08) - 2,105,887.05 (2,306,958.13) The Delta Queen Steamboat Co. 01-10970 (103,162,515.12) 51,960.74 956,088.37 (104,066,642.75) DQSB II, Inc. 01-10974 2,330.40 - - 2,330.40 Great AQ Steamboat, L.L.C. 01-10960 22,866,931.85 - - 22,866,931.85 Great Pacific NW Cruise Line, L.L.C. 01-10977 9,434,276.58 - 9,434,276.58 Great River Cruise Line, L.L.C. 01-10963 9,463,658.43 - 9,463,658.43 Great Ocean Cruise Line, L.L.C. 01-10959 22,093,131.96 - - 22,093,131.96 Cruise America Travel, Incorporated 01-10966 4,057,165.15 - - 4,057,165.15 Delta Queen Coastal Voyages, L.L.C. 01-10964 (190,721.38) - - (190,721.38) Cape Cod Light, L.L.C. 01-10962 3,950,183.20 - - 3,950,183.20 Cape May Light, L.L.C. 01-10961 8,127,233.11 - - 8,127,233.11 Project America, Inc. N/A (4,501,177.23) - - (4,501,177.23) Oceanic Ship Co. N/A 57,690,858.86 - - 57,690,858.86 Project America Ship I, Inc. N/A 111,968.41 - - 111,968.41 Ocean Development Co. 01-10972 1,559,238.61 - - 1,559,238.61 Great Hawaiian Cruise Line, Inc. 01-10975 (22,292.97) - - (22,292.97) Great Hawaiian Properties Corporation 01-10971 (6,116,875.06) - - (6,116,875.06) American Hawaii Properties Corporation 01-10976 5,188,990.02 - - 5,188,990.02 Great Independence Ship Co. 01-10969 36,656,636.93 - - 36,656,636.93 CAT II, Inc. 01-10968 9,637,982.06 - - 9,637,982.06 ------------------------------------------------------------------------ (5,074,813.55) 694,521.59 3,094,205.57 (7,474,497.53) ========================================================================

AMCV Cruise Operations, Inc. 01-10967 (JWV) Accounts Receivable Aging As of December 31, 2002 Attachment 7 Not Applicable AMCV Cruise Operations, Inc. 01-10967 (JWV) Accounts Payable Detail As of December 31, 2002 Attachment 8 Not Applicable DEBTOR: AMCV CRUISE OPERATIONS, INC. CASE NUMBER: 01-10967 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 30, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO DECEMBER MONTHLY OPERATING REPORT The information contained herein is unaudited. Liabilities included in these financial statements reflect amounts known by the Company to have been incurred. The Company has listed in prior filings with the United States Trustee potential additional claims it believes may be asserted against the Company. To the best of the Debtor's knowledge and belief, based on currently available information, all Federal income and payroll taxes due and owing have been paid. 1. During August, the Debtor funded three escrow accounts each in the amount of $150,000. Each escrow account was required for a pending P&I insurance claim. The Debtor cannot currently determine how much, if any, the ultimate settlement will be for each claim. 2. Outstanding accounts payable, comprised mainly of liabilities for property taxes with pre-petition valuation dates, were reclassed to liabilities subject to compromise. 3. During December, the $50,000 of marketable securities previously recorded by the Debtor and held as collateral by a third party against LOCs, were relinquished to the holder of the securities as settlement for the previously called LOCs. 4. The Debtor offset unused, pre-petition pre-paid airline tickets against liabilities subject to compromise. The tickets had been recorded by affiliated Debtors, Cruise America Travel, Incorporated and CAT II, Inc. EX-99.11 13 g80291exv99w11.txt CAT II, INC. DEC.2002 OPERATING REPORT EXHIBIT 99.11 DEBTOR: CAT II, INC. CASE NUMBER: 01-10968 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED In accordance with title 28, section 1746, of the United States Code, I declare under penalty of perjury that I have examined the attached December Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ EDDIE J. PUSTIZZI - ---------------------- Eddie J. Pustizzi Director, Accounting Debtor: CAT II, Inc. Case Number: 01-10968 (JWV) Monthly Operating Report As of December 31, 2002 And For the Month Then Ended CONTENTS Attachment 1 Summary of Bank and Investment Accounts Attachment 2 Schedule of Receipts and Disbursements Attachment 3 Bank and Investment Account Statements Attachment 4 Income Statement Attachment 5 Balance Sheet Attachment 6 Summary of Due To/Due From Intercompany Accounts Attachment 7 Accounts Receivable Aging Attachment 8 Accounts Payable Detail Attachment 9 Notes to December Monthly Operating Report Summary Of Bank And Investment Accounts Attachment 1 CAT II, Inc. Summary Case No: 01-10968 (JWV) UNAUDITED CAT II, Inc. For Month Of December, 2002

Balances ------------------------------- Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 12/01/02 As Of 12/31/02 Included Included Reconciled - ------- -------------- -------------- -------- -------- ---------- No Bank Or Investment NA NA NA NA NA Accounts

Receipts & Disbursements Attachment 2 CAT II, Inc. Summary Case No: 01-10968 (JWV) CAT II, Inc. For Month Of December, 2002 Attach 2 No Receipts Or Disbursements Due To No Bank Or Investment Accounts Concentration & Investment Account Statements Attachment 3 CAT II, Inc. Summary Case No: 01-10968 (JWV) CAT II, Inc. For Month Of December, 2002 Attach 3 No Statements Due To No Concentration Or Investment Accounts AMCV US SET OF BOOKS Date: 16-JAN-03 15:26:35 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: DEC-02 currency USD Company=59 (CAT - AHC) PTD-Actual 31-Dec-02 --------------- Revenue Gross Revenue 0.00 Allowances 0.00 ------------------ Net Revenue 0.00 Operating Expenses Air 0.00 Hotel 0.00 Commissions 0.00 Onboard Expenses 0.00 Passenger Expenses 0.00 Vessel Expenses 0.00 Layup/Drydock Expense 0.00 Vessel Insurance 0.00 ------------------ Total Operating Expenses 0.00 ------------------ Gross Profit 0.00 SG&A Expenses Sales & Marketing 0.00 Start-Up Costs 0.00 ------------------ Total SG&A Expenses 0.00 ------------------ EBITDA 0.00 Depreciation 0.00 ------------------ Operating Income 0.00 Other Expense/(Income) Interest Income 0.00 Equity in Earnings for Sub 0.00 Reorganization expenses 0.00 ------------------ Total Other Expense/(Income) 0.00 ------------------ Net Pretax Income/(Loss) 0.00 Income Tax Expense (917,296.83) ------------------ Net Income/(Loss) 917,296.83 ================== AMCV US SET OF BOOKS Date: 20-JAN-03 12:59:10 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: DEC-02 currency USD Company=59 (CAT - AHC)

YTD-Actual YTD-Actual 31-Dec-02 22-Oct-01 --------------- ---------------- ASSETS Cash and Equivalent 0.00 0.00 Restricted Cash 0.00 0.00 Accounts Receivable 0.00 256,467.70 Inventories 0.00 0.00 Prepaid Expenses 0.00 1,904,155.44 Other Current Assets 0.00 0.00 ---------------- ----------------- Total Current Assets 0.00 2,160,623.14 Fixed Assets 0.00 0.00 Accumulated Depreciation 0.00 0.00 ---------------- ----------------- Net Fixed Assets 0.00 0.00 Net Goodwill 0.00 0.00 Intercompany Due To/From 4,177,688.04 1,958,103.81 Net Deferred Financing Fees 0.00 0.00 Net Investment in Subsidiaries 0.00 0.00 ---------------- ----------------- Total Other Assets 4,177,688.04 1,958,103.81 ---------------- ----------------- Total Assets 4,177,688.04 4,118,726.95 ================ =================

AMCV US SET OF BOOKS Date: 20-JAN-03 12:59:10 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: DEC-02 currency USD Company=59 (CAT - AHC)

YTD-Actual YTD-Actual 31-Dec-02 22-Oct-01 --------------- ---------------- LIABILITIES Accounts Payable 0.00 0.00 Accrued Liabilities 0.00 0.00 Deposits 0.00 0.00 ---------------- ----------------- Total Current Liabilities 0.00 0.00 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 939,123.43 ---------------- ----------------- Total Liabilities 0.00 939,123.43 Liabilities Subject to Compromise 0.00 0.00 OWNER'S EQUITY Common Stock 10.00 10.00 Add'l Paid In Capital 2,919,930.15 2,919,930.15 Current Net Income (Loss) 917,296.83 (735,590.03) Retained Earnings 340,451.06 995,253.40 ---------------- ----------------- Total Owner's Equity 4,177,688.04 3,179,603.52 ---------------- ----------------- Total Liabilities & Equity 4,177,688.04 4,118,726.95 ================ =================

CAT II, Inc. ATTACHMENT 6 01-10968 (JWV) Summary List of Due To/Due From Accounts For the Months Ended December 31, 2002

CASE BEGINNING ENDING AFFILIATE NAME NUMBER BALANCE DEBITS CREDITS BALANCE American Classic Voyages Co. 01-10954 (15,959,416.62) - - (15,959,416.62) AMCV Cruise Operations, Inc. 01-10967 (9,637,982.06) - - (9,637,982.06) The Delta Queen Steamboat Co. 01-10970 100.00 - - 100.00 Great River Cruise Line, L.L.C. 01-10963 (1,025.41) - - (1,025.41) Cruise America Travel, Incorporated 01-10966 (23,133.53) - - (23,133.53) Cape May Light, L.L.C. 01-10961 (2,038.56) - - (2,038.56) Project America, Inc. N/A (1,925.90) - - (1,925.90) Oceanic Ship Co. N/A 15,529,527.96 - - 15,529,527.96 Ocean Development Co. 01-10972 362,391.82 - - 362,391.82 Great Hawaiian Cruise Line, Inc. 01-10975 - 2,105,887.05 - 2,105,887.05 Great Hawaiian Properties Corporation 01-10971 (570.94) - - (570.94) American Hawaii Properties Corporation 01-10976 3,675.11 - - 3,675.11 Great Independence Ship Co. 01-10969 11,802,199.12 - - 11,802,199.12 ------------------------------------------------------------------ 2,071,800.99 2,105,887.05 - 4,177,688.04 ==================================================================

CAT II, Inc. 01-10968 (JWV) Accounts Receivable Aging As of December 31, 2002 Attachment 7 Not Applicable CAT II, Inc. 01-10968 (JWV) Accounts Payable Detail As of December 31, 2002 Attachment 8 Not Applicable DEBTOR: CAT II, INC. CASE NUMBER: 01-10968 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 30, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO DECEMBER MONTHLY OPERATING REPORT The information contained herein is unaudited. Liabilities included in these financial statements reflect amounts known by the Company to have been incurred. The Company has listed in prior filings with the United States Trustee potential additional claims it believes may be asserted against the Company. To the best of the Debtor's knowledge and belief, based on currently available information, all Federal income and payroll taxes due and owing have been paid. 1. Other long-term liabilities had consisted of deferred tax assets and liabilities, net. Deferred tax assets and liabilities had been recognized for the expected future tax consequences of temporary differences between carrying amounts and the tax basis of assets and liabilities. The Debtor adjusted the recorded amounts to zero based upon the expected outcome of Chapter 11 proceedings. 2. The Debtor reclassed unused, pre-petition pre-paid airline tickets to offset related claims filed against AMCV Cruise Operations, an affiliated Debtor. EX-99.12 14 g80291exv99w12.txt GREAT INDEPENDENCE SHIP DEC.2002 OPERATING REPORT EXHIBIT 99.12 DEBTOR: GREAT INDEPENDENCE SHIP CO. CASE NUMBER: 01-10969 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED In accordance with title 28, section 1746, of the United States Code, I declare under penalty of perjury that I have examined the attached December Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ EDDIE J. PUSTIZZI - ---------------------- Eddie J. Pustizzi Director, Accounting DEBTOR: GREAT INDEPENDENCE SHIP CO. CASE NUMBER: 01-10969 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED CONTENTS Attachment 1 Summary of Bank and Investment Accounts Attachment 2 Schedule of Receipts and Disbursements Attachment 3 Bank and Investment Account Statements Attachment 4 Income Statement Attachment 5 Balance Sheet Attachment 6 Summary of Due To/Due From Intercompany Accounts Attachment 7 Accounts Receivable Aging Attachment 8 Accounts Payable Detail Attachment 9 Notes to December Monthly Operating Report

Summary Of Bank And Investment Accounts Attachment 1 Great Independence Ship Co. Summary Case No: 01-10969 (JWV) UNAUDITED Great Independence Ship Co. For Month Of December, 2002 Balances -------------------------------- Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 12/01/02 As Of 12/31/02 Included Included Reconciled - ------- -------------- -------------- -------- -------- ---------- No Bank Or Investment NA NA NA NA NA Accounts

Receipts & Disbursements Attachment 2 Great Independence Ship Co. Summary Case No: 01-10969 (JWV) Great Independence Ship Co. For Month Of December, 2002 Attach 2 No Receipts Or Disbursements Due To No Bank Or Investment Accounts Concentration & Investment Account Statements Attachment 3 Great Independence Ship Co. Summary Case No: 01-10969 (JWV) Great Independence Ship Co. For Month Of December, 2002 Attach 3 No Statements Due To No Concentration Or Investment Accounts AMCV US SET OF BOOKS Date: 16-JAN-03 15:26:30 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: DEC-02 currency USD Company=54 (S.S. INDEPENDENCE)

PTD-Actual 31-Dec-02 -------------- Revenue Gross Revenue 0.00 Allowances 0.00 -------------- Net Revenue 0.00 Operating Expenses Air 0.00 Hotel 0.00 Commissions 0.00 Onboard Expenses 0.00 Passenger Expenses 0.00 Vessel Expenses 0.00 Layup/Drydock Expense 0.00 Vessel Insurance 0.00 -------------- Total Operating Expenses 0.00 -------------- Gross Profit 0.00 SG&A Expenses Sales & Marketing 0.00 Start-Up Costs 0.00 -------------- Total SG&A Expenses 0.00 -------------- EBITDA 0.00 Depreciation 0.00 -------------- Operating Income 0.00 Other Expense/(Income) Interest Income 0.00 Equity in Earnings for Sub 0.00 Reorganization expenses 0.00 -------------- Total Other Expense/(Income) 0.00 -------------- Net Pretax Income/(Loss) 0.00 Income Tax Expense (1,266,494.79) -------------- Net Income/(Loss) 1,266,494.79 ==============

AMCV US SET OF BOOKS Date: 20-JAN-03 12:59:16 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: DEC-02 currency USD Company=54 (S.S. INDEPENDENCE)

YTD-Actual YTD-Actual 31-Dec-02 22-Oct-01 ---------------- ---------------- ASSETS Cash and Equivalent 0.00 64,505.83 Restricted Cash 0.00 0.00 Accounts Receivable 0.00 175,538.74 Inventories 0.00 1,148,206.76 Prepaid Expenses 0.00 2,954.26 Other Current Assets 0.00 16,615.13 ---------------- ---------------- Total Current Assets 0.00 1,407,820.72 Fixed Assets 0.00 97,928,924.04 Accumulated Depreciation 0.00 (44,272,667.29) ---------------- ---------------- Net Fixed Assets 0.00 53,656,256.75 Net Goodwill 0.00 0.00 Intercompany Due To/From (18,171,945.04) (17,643,280.88) Net Deferred Financing Fees 0.00 709,459.82 Net Investment in Subsidiaries 0.00 0.00 ---------------- ---------------- Total Other Assets (18,171,945.04) (16,933,821.06) ---------------- ---------------- Total Assets (18,171,945.04) 38,130,256.41 ================ ================

AMCV US SET OF BOOKS Date: 20-JAN-03 12:59:16 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: DEC-02 currency USD Company=54 (S.S. INDEPENDENCE)

YTD-Actual YTD-Actual 31-Dec-02 22-Oct-01 ------------------ ------------------- LIABILITIES Accounts Payable 0.00 0.00 Accrued Liabilities 0.00 31,544.34 Deposits 0.00 0.00 ------------------ ------------------- Total Current Liabilities 0.00 31,544.34 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 1,266,494.79 ------------------ ------------------- Total Liabilities 0.00 1,298,039.13 Liabilities Subject to Compromise 31,933,193.92 32,372,521.16 OWNER'S EQUITY Common Stock 1,000.00 1,000.00 Add'l Paid In Capital 17,616,000.00 17,616,000.00 Current Net Income (Loss) (54,257,119.01) (9,694,324.85) Retained Earnings (13,465,019.95) (3,462,979.03) ------------------ ------------------- Total Owner's Equity (50,105,138.96) 4,459,696.12 ------------------ ------------------- Total Liabilities & Equity (18,171,945.04) 38,130,256.41 ================== ===================

Great Independence Ship Co. 01-10969 (JWV) ATTACHMENT 6 Summary List of Due To/Due From Accounts For the Month Ended December 31, 2002

CASE BEGINNING ENDING AFFILIATE NAME NUMBER BALANCE DEBITS CREDITS BALANCE American Classic Voyages Co. 01-10954 (24,948,774.58) -- -- (24,948,774.58) AMCV Cruise Operations, Inc. 01-10967 (36,656,636.93) -- -- (36,656,636.93) The Delta Queen Steamboat Co. 01-10970 83,084.83 -- -- 83,084.83 Great AQ Steamboat, L.L.C 01-10960 4,881.60 -- -- 4,881.60 Great Ocean Cruise Line, L.L.C 01-10959 2,195.09 -- -- 2,195.09 Cruise America Travel, Incorporated 01-10966 (16,321.27) -- -- (16,321.27) Cape Cod Light, L.L.C 01-10962 (32,099.49) -- -- (32,099.49) Project America, Inc. N/A 21,415.35 -- -- 21,415.35 Oceanic Ship Co. N/A 1,172,074.09 -- -- 1,172,074.09 Project America Ship I, Inc. N/A 277,329.74 -- -- 277,329.74 Great Hawaiian Cruise Line, Inc. 01-10975 24,282,460.92 -- -- 24,282,460.92 Great Hawaiian Properties Corporation 01-10971 28,898,393.97 -- -- 28,898,393.97 American Hawaii Properties Corporation 01-10976 542,250.76 -- -- 542,250.76 CAT II, Inc. 01-10968 (11,802,199.12) -- -- (11,802,199.12) --------------------------------------------------------------------- (18,171,945.04) -- -- (18,171,945.04) =====================================================================

Great Independence Ship Co. 01-10969 (JWV) Accounts Receivable Aging As of December 31, 2002 Attachment 7 Not Applicable Great Independence Ship Co. 01-10969 (JWV) Accounts Payable Detail As of December 31, 2002 Attachment 8 Not Applicable DEBTOR: GREAT INDEPENDENCE SHIP CO. CASE NUMBER: 01-10969 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 30, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO DECEMBER MONTHLY OPERATING REPORT The information contained herein is unaudited. Liabilities included in these financial statements reflect amounts known by the Company to have been incurred. The Company has listed in prior filings with the United States Trustee potential additional claims it believes may be asserted against the Company. To the best of the Debtor's knowledge and belief, based on currently available information, all Federal income and payroll taxes due and owing have been paid. 1. Other long-term liabilities had consisted of deferred tax assets and liabilities, net. Deferred tax assets and liabilities had been recognized for the expected future tax consequences of temporary differences between carrying amounts and the tax basis of assets and liabilities. The Debtor adjusted the recorded amounts to zero based upon the expected outcome of Chapter 11 proceedings. EX-99.13 15 g80291exv99w13.txt DELTA QUEEN STEAMBOAT DEC. 2002 OPERATIONG REPORT EXHIBIT 99.13 DEBTOR: THE DELTA QUEEN STEAMBOAT COMPANY CASE NUMBER: 01-10970 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED In accordance with title 28, section 1746, of the United States Code, I declare under penalty of perjury that I have examined the attached December Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ EDDIE J. PUSTIZZI - ---------------------- Eddie J. Pustizzi Director, Accounting DEBTOR: THE DELTA QUEEN STEAMBOAT COMPANY CASE NUMBER: 01-10970 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED CONTENTS Attachment 1 Summary of Bank and Investment Accounts Attachment 2 Schedule of Receipts and Disbursements Attachment 3 Bank and Investment Account Statements Attachment 4 Income Statement Attachment 5 Balance Sheet Attachment 6 Summary of Due To/Due From Intercompany Accounts Attachment 7 Accounts Receivable Aging Attachment 8 Accounts Payable Detail Attachment 9 Notes to December Monthly Operating Report Summary Of Bank And Investment Accounts Attachment 1 The Delta Queen Steamboat Co. Summary Case No: 01-10970 (JWV) Unaudited The Delta Queen Steamboat Co. For Month Of December, 2002

Balances ----------------------------- Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 12/01/02 As Of 12/31/02 Included Included Reconciled Delta Queen Controlled Disb 0.00 0.00 Yes Yes Yes Hibernia Account # - 542027373 Delta Queen Master Cash 119,432.28 183,350.85 Yes Yes Yes Hibernia Account # - 812-395-335 Delta Queen Payroll 15,511.84 4,043.59 Yes No - Not Yes Hibernia Concentration Account # - 812-395-289 Account The Delta Queen Steamboat Co 754,291.39 554,266.68 Yes No - Not Yes Escrow Account - DQ/DN IDCC Concentration LaSalle Account Account # - 62-9003-40-1 The Delta Queen Steamboat Co 28,704,567.35 27,986,143.56 Yes No - Not Yes LaSalle - Investment Account Concentration 03-9042-30-4 Account The Delta Queen Steamboat Co. 0.00 0.00 No - No - No - LaSalle - Wealth Management Account Account Account Account # - TNE-043290 Closed Closed Closed The Delta Queen Steamboat Co 0.00 0.00 No - No - No - Escrow Account Account Account Account LaSalle Closed Closed Closed Account # - 62-8930-70-3 The Delta Queen Steamboat Co. 0.00 0.00 No - No - No - AmSouth Account Account Account Account # - 19356307 Closed Closed Closed Delta Queen 0.00 0.00 No - No - No - LaSalle Account Account Account Account # - 5800155771 Closed Closed Closed DQ Credit Card 0.00 0.00 No - No - No - Bank One Account Account Account Account # - 552-0110062868 Closed Closed Closed DQ Master Cash 0.00 0.00 No - No - No - Bank One Account Account Account Account # - 552-0110256700 Closed Closed Closed The Delta Queen Steamboat Co 0.00 0.00 No - No - No - Receipts Account Account Account Hibernia Closed Closed Closed Account # - 882-390-047 The Delta Queen Steamboat Co 0.00 0.00 No - No - No - Receipts Account Account Account LaSalle Closed Closed Closed Account # - 5800155839 The Delta Queen Steamboat Co 0.00 0.00 No - No - No - Escrow Account - DQ/DN - Seller Proraton Account Account Account LaSalle Closed Closed Closed Account # - 62-9003-42-7

Receipts & Disbursements Attachment 2-1 The Delta Queen Steamboat Co. R&D - Hibernia Case No: 01-10970 (JWV) UNAUDITED DQ Controlled Disb Hibernia Controlled Disbursements Account # - 542027373 1 December 02 - 31 December 02 Opening Balance - 1 December 02 0.00 Receipts 144,877.01 From The Delta Queen Steam Boat Co. - Hibernia - DQSC Master Cash - Account (812-395-335) --------------- 144,877.01 Total Receipts Disbursements (199.50) Crew Maintenance & Medical 0.00 O/S Post Petition Drydock Invoices (71,120.10) Professional Fees (2,318.77) SG&A - Chicago (8,899.69) SG&A - Weston (3,817.44) SG&A - NOLA ( Temp Help) (45,771.51) Legal Fees P&I Claims (12,750.00) Quarterly US Trustee Fee 0.00 Replenish Petty Cash --------------- (144,877.01) Total Disbursements Closing Balance - 31 December 02 0.00 Receipts & Disbursements Attachment 2-2 The Delta Queen Steamboat Co. R&D - Hibernia Case No: 01-10970 (JWV) UNAUDITED DQ Master Cash Hibernia DQ Master Cash Account # - 812-395-335 1 December 02 - 31 December 02 Opening Balance - 1 December 02 119,432.28 Receipts 750,000.00 From Delta Queen Steamboat CO - LaSalle Investment Acct (#039042304) 4,000.00 From Mississippi Queen Steamer Hibernia Acct (#812-502-719) 500.50 From Delta Queen Steamer Hibernia Acct (#812-395-270) ----------- 754,500.50 Total Receipts Disbursements (144,877.01) To The Delta Queen Steam Boat Co. - Hibernia - DQSC Contr. Disb. - Account (542027373) (36,000.00) Postage - Logan & Company (409.78) Hibernia National Bank - Fees (35,000.00) To The Delta Queen Steam Boat Co Payroll Acct (812395289) - Hibernia - (139,962.22) Professional Fees - Latham & Watkins (57,439.65) Professional Fees Walsh,Monzack & Monaco (272,097.44) Professional Fees - Hahn & Hessen (4,795.83) Professional Fees - Policano & Manzo Professional Fees - AMA/Chanin (690,581.93) Total Disbursements Closing Balance - 31 December 02 183,350.85 Receipts & Disbursements Attachment 2-3 The Delta Queen Steamboat Co. R&D - Hibernia Case No: 01-10970 (JWV) UNAUDITED DQ Payroll Hibernia DQ Payroll Account # - 812-395-289 1 December 02 - 31 December 02 Opening Balance - 1 December 02 15,511.84 Receipts 35,000.00 From The Delta Queen Steam Boat Co. - Hibernia - DQSC Master Cash - Account (812-395-335) ----------- 35,000.00 Total Receipts Disbursements (46,468.25) Payroll - Wires & Checks ----------- (46,468.25) Total Disbursements Closing Balance - 31 December 02 4,043.59 Receipts & Disbursements Attachment 2-4 The Delta Queen Steamboat Co. R&D - LaSalle Case No: 01-10970 (JWV) UNAUDITED DQ-DN IDCC Escrow LaSalle DQ-DN IDCC Escrow Account # - 62-9003-40-1 1 December 02 - 31 December 02 Opening Balance - 1 December 02 754,291.39 Receipts 653.94 Interest Income ----------- 653.94 Total Receipts Disbursements (200,678.65) Disbursement to DNPS for settlement of passenger priority claims ----------- (200,678.65) Total Disbursements Closing Balance - 31 December 02 554,266.68 Receipts & Disbursements Attachment 2-5 The Delta Queen Steamboat Co. R&D - LaSalle Case No: 01-10970 (JWV) UNAUDITED Investment LaSalle - Investment Account Account # - 03-9042-30-4 1 December 02 - 31 December 02 Opening Balance - 1 December 02 28,704,567.35 Receipts 31,576.21 Interrest Earned ----------- 31,576.21 Total Receipts Disbursements (750,000.00) To Delta Queen Steamboat CO Master Cash Hibernia # 812-395-335 ----------- (750,000.00) Total Disbursements Closing Balance - 31 December 02 27,986,143.56 AMCV US SET OF BOOKS Date: 17-JAN-03 10:01:35 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: DEC-02 currency USD Company=20 (DELTA QUEEN STEAM CO)

PTD-Actual 31-Dec-02 ---------------- Revenue Gross Revenue 0.00 Allowances 0.00 ---------------- Net Revenue 0.00 Operating Expenses Air 0.00 Hotel 0.00 Commissions 0.00 Onboard Expenses 0.00 Passenger Expenses 0.00 Vessel Expenses 0.00 Layup/Drydock Expense 0.00 Vessel Insurance 0.00 ---------------- Total Operating Expenses 0.00 ---------------- Gross Profit 0.00 SG&A Expenses Sales & Marketing 0.00 Start-Up Costs 0.00 ---------------- Total SG&A Expenses 0.00 ---------------- EBITDA 0.00 Depreciation 0.00 ---------------- Operating Income 0.00 Other Expense/(Income) Interest Income 0.00 Equity in Earnings for Sub (4,820,420.16) Reorganization expenses 0.00 Other expense (32,958.49) ---------------- Total Other Expense/(Income) 4,787,461.67 ---------------- Net Pretax Income/(Loss) (4,787,461.67) Income Tax Expense (9,993,779.93) ---------------- Net Income/(Loss) 5,206,318.26 ================

AMCV US SET OF BOOKS Date: 20-JAN-03 12:59:17 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: DEC-02 currency USD Company=20 (DELTA QUEEN STEAM CO)

YTD-Actual YTD-Actual 31-Dec-02 22-Oct-01 ----------------- --------------- ASSETS Cash and Equivalent 28,173,538.00 2,494,983.63 Restricted Cash 554,266.68 0.00 Accounts Receivable 12,000.00 0.00 Inventories 0.00 840,779.06 Prepaid Expenses 0.00 13,147.33 Other Current Assets 0.00 0.00 ----------------- --------------- Total Current Assets 28,739,804.68 3,348,910.02 Fixed Assets 0.00 8,202,345.75 Accumulated Depreciation 0.00 (5,195,800.16) ----------------- --------------- Net Fixed Assets 0.00 3,006,545.59 Net Goodwill 0.00 0.00 Intercompany Due To/From 12,817,773.54 37,437,552.28 Net Deferred Financing Fees 0.00 5,434.15 Net Investment in Subsidiaries (88,306,280.06) 33,999,708.26 ----------------- --------------- Total Other Assets (75,488,506.52) 71,442,694.69 ----------------- --------------- Total Assets (46,748,701.84) 77,798,150.30 ================= ===============

AMCV US SET OF BOOKS Date: 20-JAN-03 12:59:17 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: DEC-02 currency USD Company=20 (DELTA QUEEN STEAM CO)

YTD-Actual YTD-Actual 31-Dec-02 22-Oct-01 --------------- ------------ LIABILITIES Accounts Payable 0.00 0.00 Accrued Liabilities 31,968.58 0.00 Deposits 0.00 0.00 ----------------- --------------- Total Current Liabilities 31,968.58 0.00 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 9,993,779.93 ----------------- --------------- Total Liabilities 31,968.58 9,993,779.93 Liabilities Subject to Compromise 577,835.68 577,835.68 OWNER'S EQUITY Common Stock 1,000.00 1,000.00 Add'l Paid In Capital 33,564,332.71 33,564,332.71 Current Net Income (Loss) (113,714,034.29) (2,866,520.92) Retained Earnings 32,790,195.48 36,527,722.90 ----------------- --------------- Total Owner's Equity (47,358,506.10) 67,226,534.69 ----------------- --------------- Total Liabilities & Equity (46,748,701.84) 77,798,150.30 ================= ===============

The Delta Queen Steamboat Co. ATTACHMENT 6 01-10970 (JWV) Summary List Due To/Due From Accounts For the Month Ended December 31, 2002

CASE BEGINNING ENDING AFFILIATE NAME NUMBER BALANCE DEBITS CREDITS BALANCE American Classic Voyages Co. 01-10954 (6,204,670.44) - - (6,204,670.44) AMCV Cruise Operations, Inc. 01-10967 103,162,515.12 956,088.37 51,960.74 104,066,642.75 Great AQ Steamboat, L.L.C. 01-10960 (38,756,706.53) 73,062.00 - (38,683,644.53) Great Pacific NW Cruise Line, L.L.C. 01-10977 (8,349,046.78) 2,966.86 - (8,346,079.92) Great River Cruise Line, L.L.C. 01-10963 (10,520,537.68) 14,268.90 500.50 (10,506,769.28) Great Ocean Cruise Line, L.L.C. 01-10959 (17,374,876.19) 129,631.33 4,000.00 (17,249,244.86) Cruise America Travel, Incorporated 01-10966 256,503.82 - 256,291.69 212.13 Delta Queen Coastal Voyages, L.L.C. 01-10964 (880,428.81) - - (880,428.81) Cape Cod Light, L.L.C. 01-10962 (1,404,059.37) - - (1,404,059.37) Cape May Light, L.L.C. 01-10961 (8,431,118.53) - - (8,431,118.53) Project America, Inc. N/A (2,934,348.03) - - (2,934,348.03) Oceanic Ship Co. N/A (136,810.43) - - (136,810.43) Project America Ship I, Inc. N/A 255,723.41 - - 255,723.41 Project America Ship II, Inc. N/A (142,646.25) - - (142,646.25) Ocean Development Co. 01-10972 2,214,633.49 - - 2,214,633.49 Great Hawaiian Cruise Line, Inc. 01-10975 (7,057.02) - - (7,057.02) Great Hawaiian Properties Corporation 01-10971 1,247,073.77 - - 1,247,073.77 American Hawaii Properties Corporation 01-10976 43,550.29 - - 43,550.29 Great Independence Ship Co. 01-10969 (83,084.83) - - (83,084.83) CAT II, Inc. 01-10968 (100.00) - - (100.00) ---------------------------------------------------------------------- 11,954,509.01 1,176,017.46 312,752.93 12,817,773.54 ======================================================================

The Delta Queen Steamboat Company 01-10970 (JWV) Accounts Receivable Aging As of December 31, 2002 Attachment 7 Not Applicable The Delta Queen Steamboat Company 01-10970 (JWV) Accounts Payable Detail As of December 31, 2002 Attachment 8 Not Applicable DEBTOR: THE DELTA QUEEN STEAMBOAT COMPANY CASE NUMBER: 01-10970 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 30, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO DECEMBER MONTHLY OPERATING REPORT The information contained herein is unaudited. Liabilities included in these financial statements reflect amounts known by the Company to have been incurred. The Company has listed in prior filings with the United States Trustee potential additional claims it believes may be asserted against the Company. To the best of the Debtor's knowledge and belief, based on currently available information, all Federal income and payroll taxes due and owing have been paid. 1. Accounts receivable represent monies due from the Purchaser. During October, a majority of the receivable balance was collected. Receipt of the remaining balance is awaiting transfer of title documentation. 2. Other long-term liabilities had consisted of deferred tax assets and liabilities, net. Deferred tax assets and liabilities had been recognized for the expected future tax consequences of temporary differences between carrying amounts and the tax basis of assets and liabilities. The Debtor adjusted the recorded amounts to zero based upon the expected outcome of Chapter 11 proceedings. 3. The reduction in restricted cash was due to the disbursement of escrowed monies to Delaware North Companies for receipt of waivers from passengers holding priority claims. The waived priority claims were filed against one of three affiliated Debtors: Great Ocean Cruise Line, LLC, Great AQ Steamboat, LLC and Great River Cruise Line, LLC. EX-99.14 16 g80291exv99w14.txt GREAT HAWAIIAN PROPERTIES DEC. 02 OPERATING REPORT EXHIBIT 99.14 DEBTOR: GREAT HAWAIIAN PROPERTIES CORPORATION CASE NUMBER: 01-10971 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED In accordance with title 28, section 1746, of the United States Code, I declare under penalty of perjury that I have examined the attached December Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ EDDIE J. PUSTIZZI - ------------------------ Eddie J. Pustizzi Director, Accounting DEBTOR: GREAT HAWAIIAN PROPERTIES CORPORATION CASE NUMBER: 01-10971 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED CONTENTS Attachment 1 Summary of Bank and Investment Accounts Attachment 2 Schedule of Receipts and Disbursements Attachment 3 Bank and Investment Account Statements Attachment 4 Income Statement Attachment 5 Balance Sheet Attachment 6 Summary of Due To/Due From Intercompany Accounts Attachment 7 Accounts Receivable Aging Attachment 8 Accounts Payable Detail Attachment 9 Notes to December Monthly Operating Report Summary Of Bank And Investment Accounts Attachment 1 Great Hawaiian Properties Corporation Summary Case No: 01-10971 (JWV) UNAUDITED Great Hawaiian Properties Corp. For Month Of December, 2002

Balances ---------------------------------- Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 12/01/02 As Of 12/31/02 Included Included Reconciled - ------- -------------- -------------- -------- -------- ---------- No Bank Or Investment NA NA NA NA NA Accounts

Receipts & Disbursements Attachment 2 Great Hawaiian Properties Corporation Summary Case No: 01-10971 (JWV) Great Hawaiian Properties Corp. For Month Of December, 2002 Attach 2 No Receipts Or Disbursements Due To No Bank Or Investment Accounts Concentration & Investment Account Statements Attachment 3 Great Hawaiian Properties Corporation Summary Case No: 01-10971 (JWV) Great Hawaiian Properties Corp. For Month Of December, 2002 Attach 3 No Statements Due To No Concentration Or Investment Accounts AMCV US SET OF BOOKS Date: 16-JAN-03 15:29:05 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: DEC-02 currency USD Company=51 (AHC - OPERATIONS)

PTD-Actual 31-Dec-02 ---------------- Revenue Gross Revenue 0.00 Allowances 0.00 ---------------- Net Revenue 0.00 Operating Expenses Air 0.00 Hotel 0.00 Commissions 0.00 Onboard Expenses 0.00 Passenger Expenses 0.00 Vessel Expenses 0.00 Layup/Drydock Expense 0.00 Vessel Insurance 0.00 ---------------- Total Operating Expenses 0.00 ---------------- Gross Profit 0.00 SG&A Expenses Sales & Marketing 0.00 Start-Up Costs 0.00 ---------------- Total SG&A Expenses 0.00 ---------------- EBITDA 0.00 Depreciation 0.00 ---------------- Operating Income 0.00 Other Expense/(Income) Interest Income 0.00 Equity in Earnings for Sub 0.00 Reorganization expenses 0.00 ---------------- Total Other Expense/(Income) 0.00 ---------------- Net Pretax Income/(Loss) 0.00 Income Tax Expense 15,184,601.60 ---------------- Net Income/(Loss) (15,184,601.60) ================

AMCV US SET OF BOOKS Date: 20-JAN-03 12:59:17 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: DEC-02 currency USD Company=51 (AHC - OPERATIONS)

YTD-Actual YTD-Actual 31-Dec-02 22-Oct-01 --------------- --------------- ASSETS Cash and Equivalent 0.00 665,214.37 Restricted Cash 0.00 0.00 Accounts Receivable 0.00 0.00 Inventories 0.00 36,560.78 Prepaid Expenses 0.00 1,609.00 Other Current Assets 0.00 0.00 --------------- --------------- Total Current Assets 0.00 703,384.15 Fixed Assets 0.00 1,992,727.87 Accumulated Depreciation 0.00 (1,687,090.91) --------------- --------------- Net Fixed Assets 0.00 305,636.96 Net Goodwill 0.00 0.00 Intercompany Due To/From 21,010,606.76 20,319,892.39 Net Deferred Financing Fees 0.00 0.00 Net Investment in Subsidiaries 0.00 0.00 --------------- --------------- Total Other Assets 21,010,606.76 20,319,892.39 --------------- --------------- Total Assets 21,010,606.76 21,328,913.50 =============== ===============

AMCV US SET OF BOOKS Date: 20-JAN-03 12:59:17 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: DEC-02 currency USD Company=51 (AHC - OPERATIONS)

YTD-Actual YTD-Actual 31-Dec-02 22-Oct-01 --------------- --------------- LIABILITIES Accounts Payable 0.00 0.00 Accrued Liabilities 0.00 0.00 Deposits 0.00 0.00 --------------- --------------- Total Current Liabilities 0.00 0.00 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 (15,184,601.60) --------------- --------------- Total Liabilities 0.00 (15,184,601.60) Liabilities Subject to Compromise 0.00 0.00 OWNER'S EQUITY Common Stock 9,440.25 9,440.25 Add'l Paid In Capital 83,336,732.73 83,336,732.73 Current Net Income (Loss) (15,502,908.34) (516,397.64) Retained Earnings (46,832,657.88) (46,316,260.24) --------------- --------------- Total Owner's Equity 21,010,606.76 36,513,515.10 --------------- --------------- Total Liabilities & Equity 21,010,606.76 21,328,913.50 =============== ===============

Great Hawaiian Properties Corporation ATTACHMENT 6 01-10971 (JWV) Summary List of Due To/Due From Accounts For the Month Ended December 31, 2002

CASE BEGINNING ENDING AFFILIATE NAME NUMBER BALANCE DEBITS CREDITS BALANCE American Classic Voyages Co. 01-10954 51,110,970.59 -- -- 51,110,970.59 AMCV Cruise Operations, Inc. 01-10967 6,116,875.06 -- -- 6,116,875.06 The Delta Queen Steamboat Co. 01-10970 (1,247,073.77) -- -- (1,247,073.77) Great AQ Steamboat, L.L.C. 01-10960 22,591.38 -- -- 22,591.38 Great Pacific NW Cruise Line, L.L.C. 01-10977 66,513.26 -- -- 66,513.26 Great River Cruise Line, L.L.C. 01-10963 41,555.00 -- -- 41,555.00 Great Ocean Cruise Line, L.L.C. 01-10959 34,964.32 -- -- 34,964.32 Cape May Light, L.L.C. 01-10961 (4,188.00) -- -- (4,188.00) Project America, Inc. N/A (3,007,602.48) -- -- (3,007,602.48) Oceanic Ship Co. N/A (345,917.07) -- -- (345,917.07) Ocean Development Co. 01-10972 780,707.24 -- -- 780,707.24 Great Hawaiian Cruise Line, Inc. 01-10975 (3,598,535.73) -- -- (3,598,535.73) American Hawaii Properties Corporation 01-10976 (62,430.01) -- -- (62,430.01) Great Independence Ship Co. 01-10969 (28,898,393.97) -- -- (28,898,393.97) CAT II, Inc. 01-10968 570.94 -- -- 570.94 ----------------------------------------------------------------- 21,010,606.76 -- -- 21,010,606.76 =================================================================

Great Hawaiian Properties Corporation 01-10971 (JWV) Accounts Receivable Aging As of December 31, 2002 Attachment 7 Not Applicable Great Hawaiian Properties Corporation 01-10971 (JWV) Accounts Payable Detail As of December 31, 2002 Attachment 8 Not Applicable DEBTOR: GREAT HAWAIIAN PROPERTIES CORPORATION CASE NUMBER: 01-10971 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 30, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO DECEMBER MONTHLY OPERATING REPORT The information contained herein is unaudited. Liabilities included in these financial statements reflect amounts known by the Company to have been incurred. The Company has listed in prior filings with the United States Trustee potential additional claims it believes may be asserted against the Company. To the best of the Debtor's knowledge and belief, based on currently available information, all Federal income and payroll taxes due and owing have been paid. 1. Other long-term liabilities had consisted of deferred tax assets and liabilities, net. Deferred tax assets and liabilities had been recognized for the expected future tax consequences of temporary differences between carrying amounts and the tax basis of assets and liabilities. The Debtor adjusted the recorded amounts to zero based upon the expected outcome of Chapter 11 proceedings. EX-99.15 17 g80291exv99w15.txt OCEAN DEVELOPMENT DEC. 2002 OPERATING REPORT EXHIBIT 99.15 DEBTOR: OCEAN DEVELOPMENT CO. CASE NUMBER: 01-10972 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED In accordance with title 28, section 1746, of the United States Code, I declare under penalty of perjury that Ocean Development Co. was inactive for the above referenced period and, to the best of my knowledge, the foregoing is true and correct. /s/ EDDIE J. PUSTIZZI - ------------------------------ Eddie J. Pustizzi Director, Accounting EX-99.16 18 g80291exv99w16.txt AMCV HOLDINGS DEC. 2002 OPERATING REPORT EXHIBIT 99.16 DEBTOR: AMCV HOLDINGS, INC. CASE NUMBER: 01-10973 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED In accordance with title 28, section 1746, of the United States Code, I declare under penalty of perjury that I have examined the attached December Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ EDDIE J. PUSTIZZI - ---------------------- Eddie J. Pustizzi Director, Accounting DEBTOR: AMCV HOLDINGS, INC. CASE NUMBER: 01-10973 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED CONTENTS Attachment 1 Summary of Bank and Investment Accounts Attachment 2 Schedule of Receipts and Disbursements Attachment 3 Bank and Investment Account Statements Attachment 4 Income Statement Attachment 5 Balance Sheet Attachment 6 Summary of Due To/Due From Intercompany Accounts Attachment 7 Accounts Receivable Aging Attachment 8 Accounts Payable Detail Attachment 9 Notes to December Monthly Operating Report Summary Of Bank And Investment Accounts Attachment 1 AMCV Holdings, Inc. Summary Case No: 01-10973 (JWV) UNAUDITED AMCV Holdings, Inc. For Month Of December, 2002

Balances -------------------------------- Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 12/01/02 As Of 12/31/02 Included Included Reconciled - ------- -------------- -------------- -------- -------- ---------- No Bank Or Investment NA NA NA NA NA Accounts

Receipts & Disbursements Attachment 2 AMCV Holdings, Inc. Summary Case No: 01-10973 (JWV) AMCV Holdings, Inc. For Month Of December, 2002 Attach 2 No Receipts Or Disbursements Due To No Bank Or Investment Accounts Concentration & Investment Account Statements Attachment 3 AMCV Holdings, Inc. Summary Case No: 01-10973 (JWV) AMCV Holdings, Inc. For Month Of December, 2002 Attach 3 No Statements Due To No Concentration Or Investment Accounts AMCV US SET OF BOOKS Date: 16-JAN-03 16:22:59 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: DEC-02 currency USD Company=12 (AMCV - HOLDINGS)

PTD-Actual 31-Dec-02 --------------- Revenue Gross Revenue 0.00 Allowances 0.00 --------------- Net Revenue 0.00 Operating Expenses Air 0.00 Hotel 0.00 Commissions 0.00 Onboard Expenses 0.00 Passenger Expenses 0.00 Vessel Expenses 0.00 Layup/Drydock Expense 0.00 Vessel Insurance 0.00 --------------- Total Operating Expenses 0.00 --------------- Gross Profit 0.00 SG&A Expenses Sales & Marketing 0.00 Start-Up Costs 0.00 --------------- Total SG&A Expenses 0.00 --------------- EBITDA 0.00 Depreciation 0.00 --------------- Operating Income 0.00 Other Expense/(Income) Interest Income 0.00 Equity in Earnings for Sub (14,817,040.93) Reorganization expenses 0.00 --------------- Total Other Expense/(Income) 14,817,040.93 --------------- Net Pretax Income/(Loss) (14,817,040.93) Income Tax Expense 0.00 --------------- Net Income/(Loss) (14,817,040.93) ===============

AMCV US SET OF BOOKS Date: 20-JAN-03 12:59:23 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: DEC-02 currency USD Company=12 (AMCV - HOLDINGS)

YTD-Actual YTD-Actual 31-Dec-02 22-Oct-01 ---------------- ---------------- ASSETS Cash and Equivalent 0.00 0.00 Restricted Cash 0.00 0.00 Accounts Receivable 0.00 0.00 Inventories 0.00 0.00 Prepaid Expenses 0.00 0.00 Other Current Assets 0.00 0.00 ---------------- ---------------- Total Current Assets 0.00 0.00 Fixed Assets 0.00 0.00 Accumulated Depreciation 0.00 0.00 ---------------- ---------------- Net Fixed Assets 0.00 0.00 Net Goodwill 0.00 0.00 Intercompany Due To/From 0.00 0.00 Net Deferred Financing Fees 0.00 0.00 Net Investment in Subsidiaries (484,012,599.27) (918,077.34) ---------------- ---------------- Total Other Assets (484,012,599.27) (918,077.34) ---------------- ---------------- Total Assets (484,012,599.27) (918,077.34) ================ ================

AMCV US SET OF BOOKS Date: 20-JAN-03 12:59:23 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: DEC-02 currency USD Company=12 (AMCV - HOLDINGS)

YTD-Actual YTD-Actual 31-Dec-02 22-Oct-01 ----------------- ----------------- LIABILITIES Accounts Payable 0.00 0.00 Accrued Liabilities 0.00 0.00 Deposits 0.00 0.00 ----------------- ----------------- Total Current Liabilities 0.00 0.00 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 0.00 ----------------- ----------------- Total Liabilities 0.00 0.00 Liabilities Subject to Compromise 0.00 0.00 OWNER'S EQUITY Common Stock 9,440.25 9,440.25 Add'l Paid In Capital 79,208,059.85 79,208,059.85 Current Net Income (Loss) (483,826,808.82) (13,500,663.21) Retained Earnings (79,403,290.55) (66,634,914.23) ----------------- ----------------- Total Owner's Equity (484,012,599.27) (918,077.34) ----------------- ----------------- Total Liabilities & Equity (484,012,599.27) (918,077.34) ================= =================

AMCV Holdings, Inc. ATTACHMENT 6 01-10973(JWV) Summary List of Due To/Due From Accounts For the Month Ended December 31, 2002

CASE BEGINNING ENDING AFFILIATE NAME NUMBER BALANCE DEBITS CREDITS BALANCE AMCV Cruise Operations, Inc. 01-10967 201,071.08 2,105,887.05 -- 2,306,958.13 Project America, Inc. N/A (435,388.90) -- -- (435,388.90) Great Hawaiian Cruise Line, Inc. 01-10975 234,317.82 -- 2,105,887.05 (1,871,569.23) ----------------------------------------------------------------------------- -- 2,105,887.05 2,105,887.05 - =============================================================================

AMCV Holdings, Inc. 01-10973 (JWV) Accounts Receivable Aging As of December 31, 2002 Attachment 7 Not Applicable AMCV Holdings, Inc. 01-10973 (JWV) Accounts Payable Detail As of December 31, 2002 Attachment 8 Not Applicable DEBTOR: AMCV HOLDINGS, INC. CASE NUMBER: 01-10973 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 30, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO DECEMBER MONTHLY OPERATING REPORT The information contained herein is unaudited. Liabilities included in these financial statements reflect amounts known by the Company to have been incurred. The Company has listed in prior filings with the United States Trustee potential additional claims it believes may be asserted against the Company. To the best of the Debtor's knowledge and belief, based on currently available information, all Federal income and payroll taxes due and owing have been paid. EX-99.17 19 g80291exv99w17.txt DQSB II, INC. DEC. 2002 OPERATING REPORT EXHIBIT 99.17 DEBTOR: DQSB II, INC. CASE NUMBER: 01-10974 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED In accordance with title 28, section 1746, of the United States Code, I declare under penalty of perjury that I have examined the attached December Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ EDDIE J. PUSTIZZI - ---------------------- Eddie J. Pustizzi Director, Accounting DEBTOR: DQSB II, INC. CASE NUMBER: 01-10974 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED CONTENTS Attachment 1 Summary of Bank and Investment Accounts Attachment 2 Schedule of Receipts and Disbursements Attachment 3 Bank and Investment Account Statements Attachment 4 Income Statement Attachment 5 Balance Sheet Attachment 6 Summary of Due To/Due From Intercompany Accounts Attachment 7 Accounts Receivable Aging Attachment 8 Accounts Payable Detail Attachment 9 Notes to December Monthly Operating Report Summary Of Bank And Investment Accounts Attachment 1 DQSB II, Inc. Summary Case No: 01-10974 (JWV) UNAUDITED DQSB II, Inc. For Month Of December, 2002

Balances -------------------------------- Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 12/01/02 As Of 12/31/02 Included Included Reconciled - ------- -------------- -------------- -------- -------- ---------- No Bank Or Investment NA NA NA NA NA Accounts

Receipts & Disbursements Attachment 2 DQSB II, Inc. Summary Case No: 01-10974 (JWV) DQSB II, Inc. For Month Of December, 2002 Attach 2 No Receipts Or Disbursements Due To No Bank Or Investment Accounts Concentration & Investment Account Statements Attachment 3 DQSB II, Inc. Summary Case No: 01-10974 (JWV) DQSB II, Inc. For Month Of December, 2002 Attach 3 No Statements Due To No Concentration Or Investment Accounts AMCV US SET OF BOOKS Date: 17-JAN-03 10:11:42 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: DEC-02 currency USD Company=60 (DELTA QUEEN SC II) PTD-Actual 31-Dec-02 --------------- Revenue Gross Revenue 0.00 Allowances 0.00 ----------------- Net Revenue 0.00 Operating Expenses Air 0.00 Hotel 0.00 Commissions 0.00 Onboard Expenses 0.00 Passenger Expenses 0.00 Vessel Expenses 0.00 Layup/Drydock Expense 0.00 Vessel Insurance 0.00 ----------------- Total Operating Expenses 0.00 ----------------- Gross Profit 0.00 SG&A Expenses Sales & Marketing 0.00 Start-Up Costs 0.00 ----------------- Total SG&A Expenses 0.00 ----------------- EBITDA 0.00 Depreciation 0.00 ----------------- Operating Income 0.00 Other Expense/(Income) Interest Income 0.00 Equity in Earnings for Sub (64,062.62) Reorganization expenses 0.00 ----------------- Total Other Expense/(Income) 64,062.62 ----------------- Net Pretax Income/(Loss) (64,062.62) Income Tax Expense 4,904.83 ----------------- Net Income/(Loss) (68,967.45) ================= AMCV US SET OF BOOKS Date: 20-JAN-03 12:59:24 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: DEC-02 currency USD Company=60 (DELTA QUEEN SC II)

YTD-Actual YTD-Actual 31-Dec-02 22-Oct-01 --------------- ------------ ASSETS Cash and Equivalent 0.00 0.00 Restricted Cash 0.00 0.00 Accounts Receivable 0.00 0.00 Inventories 0.00 0.00 Prepaid Expenses 0.00 0.00 Other Current Assets 0.00 0.00 ----------------- -------------- Total Current Assets 0.00 0.00 Fixed Assets 0.00 0.00 Accumulated Depreciation 0.00 0.00 ----------------- -------------- Net Fixed Assets 0.00 0.00 Net Goodwill 0.00 0.00 Intercompany Due To/From (22,497.32) (21,361.32) Net Deferred Financing Fees 0.00 0.00 Net Investment in Subsidiaries (1,893,887.16) 178,552.30 ----------------- -------------- Total Other Assets (1,916,384.48) 157,190.98 ----------------- -------------- Total Assets (1,916,384.48) 157,190.98 ================= ==============

AMCV US SET OF BOOKS Date: 20-JAN-03 12:59:24 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: DEC-02 currency USD Company=60 (DELTA QUEEN SC II)

YTD-Actual YTD-Actual 31-Dec-02 22-Oct-01 --------------- ------------ LIABILITIES Accounts Payable 0.00 0.00 Accrued Liabilities 0.00 0.00 Deposits 0.00 0.00 ----------------- -------------- Total Current Liabilities 0.00 0.00 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 (4,904.83) ----------------- -------------- Total Liabilities 0.00 (4,904.83) Liabilities Subject to Compromise 0.00 0.00 OWNER'S EQUITY Common Stock 0.00 0.00 Add'l Paid In Capital 600,000.00 600,000.00 Current Net Income (Loss) (2,062,924.62) (181,334.98) Retained Earnings (453,459.86) (256,569.21) ----------------- -------------- Total Owner's Equity (1,916,384.48) 162,095.81 ----------------- -------------- Total Liabilities & Equity (1,916,384.48) 157,190.98 ================= ==============

DQSB II, Inc. ATTACHMENT 6 01-10974 (JWV) Summary List of Due To/Due From Accounts For the Months Ended December 31, 2002

CASE BEGINNING ENDING AFFILIATE NAME NUMBER BALANCE DEBITS CREDITS BALANCE American Classic Voyages Co. 01-10954 (22,836.06) - - (22,836.06) AMCV Cruise Operations, Inc. 01-10967 (2,330.40) - - (2,330.40) Great AQ Steamboat, L.L.C. 01-10960 919.60 - - 919.60 Great Pacific NW Cruise Line, L.L.C. 01-10977 339.49 - - 339.49 Great River Cruise Line, L.L.C. 01-10963 367.05 - - 367.05 Great Ocean Cruise Line, L.L.C. 01-10959 877.52 - - 877.52 Cape Cod Light, L.L.C. 01-10962 82.74 - - 82.74 Cape May Light, L.L.C. 01-10961 82.74 - - 82.74 ------------------------------------------------------------------- (22,497.32) - - (22,497.32) ===================================================================

DQSB II, Inc. 01-10974 (JWV) Accounts Receivable Aging As of December 31, 2002 Attachment 7 Not Applicable DQSB II, Inc. 01-10974 (JWV) Accounts Payable Detail As of December 31, 2002 Attachment 8 Not Applicable DEBTOR: DQSB II, INC. CASE NUMBER: 01-10974 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 30, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO DECEMBER MONTHLY OPERATING REPORT The information contained herein is unaudited. Liabilities included in these financial statements reflect amounts known by the Company to have been incurred. The Company has listed in prior filings with the United States Trustee potential additional claims it believes may be asserted against the Company. To the best of the Debtor's knowledge and belief, based on currently available information, all Federal income and payroll taxes due and owing have been paid. 1. Other long-term liabilities had consisted of deferred tax assets and liabilities, net. Deferred tax assets and liabilities had been recognized for the expected future tax consequences of temporary differences between carrying amounts and the tax basis of assets and liabilities. The Debtor adjusted the recorded amounts to zero based upon the expected outcome of Chapter 11 proceedings. EX-99.18 20 g80291exv99w18.txt GREAT HAWAIIAN CRUISE DEC.2002 OPERATING REPORT EXHIBIT 99.18 DEBTOR: GREAT HAWAIIAN CRUISE LINE, INC. CASE NUMBER: 01-10975 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED In accordance with title 28, section 1746, of the United States Code, I declare under penalty of perjury that I have examined the attached December Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ EDDIE J. PUSTIZZI - --------------------- Eddie J. Pustizzi Director, Accounting DEBTOR: GREAT HAWAIIAN CRUISE LINE, INC. CASE NUMBER: 01-10975 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED CONTENTS Attachment 1 Summary of Bank and Investment Accounts Attachment 2 Schedule of Receipts and Disbursements Attachment 3 Bank and Investment Account Statements Attachment 4 Income Statement Attachment 5 Balance Sheet Attachment 6 Summary of Due To/Due From Intercompany Accounts Attachment 7 Accounts Receivable Aging Attachment 8 Accounts Payable Detail Attachment 9 Notes to December Monthly Operating Report Summary Of Bank And Investment Accounts Attachment 1 Great Hawaiian Cruise Line, Inc. Summary Case No: 01-10975 (JWV) UNAUDITED Great Hawaiian Cruise Line, Inc. For Month Of December, 2002

Balances -------------------------------- Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 12/01/02 As Of 12/31/02 Included Included Reconciled - ------- -------------- -------------- -------- -------- ---------- No Bank Or Investment NA NA NA NA NA Accounts

Receipts & Disbursements Attachment 2 Great Hawaiian Cruise Line, Inc. Summary Case No: 01-10975 (JWV) Great Hawaiian Properties Corp. For Month Of December, 2002 Attach 2 No Receipts Or Disbursements Due To No Bank Or Investment Accounts Concentration & Investment Account Statements Attachment 3 Great Hawaiian Cruise Line, Inc. Summary Case No: 01-10975 (JWV) Great Hawaiian Cruise Line, Inc. For Month Of December, 2002 Attach 3 No Statements Due To No Concentration Or Investment Accounts AMCV US SET OF BOOKS Date: 16-JAN-03 16:01:31 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: DEC-02 currency USD Company=50 (GREAT HAWAII CRUISE LN)

PTD-Actual 31-Dec-02 ---------------- Revenue Gross Revenue 0.00 Allowances 0.00 ----------------- Net Revenue 0.00 Operating Expenses Air 0.00 Hotel 0.00 Commissions 0.00 Onboard Expenses 0.00 Passenger Expenses 0.00 Vessel Expenses 0.00 Layup/Drydock Expense 0.00 Vessel Insurance 0.00 ---------------- Total Operating Expenses 0.00 ---------------- Gross Profit 0.00 SG&A Expenses Sales & Marketing 0.00 Start-Up Costs 0.00 ---------------- Total SG&A Expenses 0.00 ---------------- EBITDA 0.00 Depreciation 0.00 ---------------- Operating Income 0.00 Other Expense/(Income) Interest Income 0.00 Equity in Earnings for Sub (13,000,809.98) Reorganization expenses 0.00 ---------------- Total Other Expense/(Income) 13,000,809.98 ---------------- Net Pretax Income/(Loss) (13,000,809.98) Income Tax Expense 1,816,230.95 ---------------- Net Income/(Loss) (14,817,040.93) ================

AMCV US SET OF BOOKS Date: 20-JAN-03 12:59:24 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: DEC-02 currency USD Company=50 (GREAT HAWAII CRUISE LN)

YTD-Actual YTD-Actual 31-Dec-02 22-Oct-01 ---------------- ---------------- ASSETS Cash and Equivalent 0.00 0.00 Restricted Cash 0.00 0.00 Accounts Receivable 0.00 0.00 Inventories 0.00 0.00 Prepaid Expenses 0.00 0.00 Other Current Assets 0.00 0.00 ---------------- ---------------- Total Current Assets 0.00 0.00 Fixed Assets 0.00 0.00 Accumulated Depreciation 0.00 0.00 ---------------- ---------------- Net Fixed Assets 0.00 0.00 Net Goodwill 0.00 0.00 Intercompany Due To/From (24,595,692.37) (24,608,201.70) Net Deferred Financing Fees 0.00 0.00 Net Investment in Subsidiaries (27,893,157.82) 41,532,108.18 ---------------- ---------------- Total Other Assets (52,488,850.19) 16,923,906.48 ---------------- ---------------- Total Assets (52,488,850.19) 16,923,906.48 ================ ================

AMCV US SET OF BOOKS Date: 20-JAN-03 12:59:24 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: DEC-02 currency USD Company=50 (GREAT HAWAII CRUISE LN)

YTD-Actual YTD-Actual 31-Dec-02 22-Oct-01 ------------------ ------------------- LIABILITIES Accounts Payable 0.00 0.00 Accrued Liabilities 0.00 0.00 Deposits 0.00 0.00 ------------------ ------------------- Total Current Liabilities 0.00 0.00 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 (1,816,230.95) ------------------ ------------------- Total Liabilities 0.00 (1,816,230.95) Liabilities Subject to Compromise 0.00 0.00 OWNER'S EQUITY Common Stock 8,440.25 8,440.25 Add'l Paid In Capital 76,531,536.87 76,531,536.87 Current Net Income (Loss) (72,100,230.78) (11,777,334.92) Retained Earnings (56,928,596.53) (46,022,504.77) ------------------ ------------------- Total Owner's Equity (52,488,850.19) 18,740,137.43 ------------------ ------------------- Total Liabilities & Equity (52,488,850.19) 16,923,906.48 ================== ===================

Great Hawaiian Cruise Line, Inc. ATTACHMENT 6 01-10975(JWV) Summary List of Due To/Due From Accounts For the Month Ended December 31, 2002

CASE BEGINNING ENDING AFFILIATE NAME NUMBER BALANCE DEBITS CREDITS BALANCE American Classic Voyages Co. 01-10954 (3,571,229.75) -- -- (3,571,229.75) AMCV Holdings, Inc. 01-10973 (234,317.82) 2,105,887.05 -- 1,871,569.23 AMCV Cruise Operations, Inc. 01-10967 22,292.97 -- -- 22,292.97 The Delta Queen Steamboat Co. 01-10970 7,057.02 -- -- 7,057.02 Great River Cruise Line, L.L.C 01-10963 60.73 -- -- 60.73 Great Ocean Cruise Line, L.L.C 01-10959 37,394.43 -- -- 37,394.43 Cape May Light, L.L.C 01-10961 8,411.75 -- -- 8,411.75 Oceanic Ship Co. N/A (1,803.12) -- -- (1,803.12) Great Hawaiian Properties Corporation 01-10971 3,598,535.73 -- -- 3,598,535.73 American Hawaii Properties Corporation 01-10976 (179,633.39) -- -- (179,633.39) Great Independence Ship Co. 01-10969 (24,282,460.92) -- -- (24,282,460.92) CAT II, Inc. 01-10968 -- -- 2,105,887.05 (2,105,887.05) ------------------------------------------------------------------------ (24,595,692.37) 2,105,887.05 2,105,887.05 (24,595,692.37) =========================================================================

Great Hawaiian Cruise Line, LLC 01-10975 (JWV) Accounts Receivable Aging As of December 31, 2002 Attachment 7 Not Applicable Great Hawaiian Cruise Line, LLC 01-10975 (JWV) Accounts Payable Detail As of December 31, 2002 Attachment 8 Not Applicable DEBTOR: GREAT HAWAIIAN CRUISE LINE, LLC CASE NUMBER: 01-10975 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 30, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO DECEMBER MONTHLY OPERATING REPORT The information contained herein is unaudited. Liabilities included in these financial statements reflect amounts known by the Company to have been incurred. The Company has listed in prior filings with the United States Trustee potential additional claims it believes may be asserted against the Company. To the best of the Debtor's knowledge and belief, based on currently available information, all Federal income and payroll taxes due and owing have been paid. 1. Other long-term liabilities had consisted of deferred tax assets and liabilities, net. Deferred tax assets and liabilities had been recognized for the expected future tax consequences of temporary differences between carrying amounts and the tax basis of assets and liabilities. The Debtor adjusted the recorded amounts to zero based upon the expected outcome of Chapter 11 proceedings. EX-99.19 21 g80291exv99w19.txt AMERICAN HAWAII PROPERTIES DEC.02 OPERATING REPORT EXHIBIT 99.19 DEBTOR: AMERICAN HAWAII PROPERTIES CORPORATION CASE NUMBER: 01-10976 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED In accordance with title 28, section 1746, of the United States Code, I declare under penalty of perjury that American Hawaii Properties Corporation was inactive for the above referenced period and, to the best of my knowledge, the foregoing is true and correct. /s/ EDDIE J. PUSTIZZI - ---------------------- Eddie J. Pustizzi Director, Accounting EX-99.20 22 g80291exv99w20.txt GREAT PACIFIC NW CRUISE DEC. 02 OPERATING REPORT EXHIBIT 99.20 DEBTOR: GREAT PACIFIC NW CRUISE LINE, L.L.C. CASE NUMBER: 01-10977 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED In accordance with title 28, section 1746, of the United States Code, I declare under penalty of perjury that I have examined the attached December Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ EDDIE J. PUSTIZZI - ---------------------- Eddie J. Pustizzi Director, Accounting DEBTOR: GREAT PACIFIC NW CRUISE LINE, L.L.C. CASE NUMBER: 01-10977 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2002 AND FOR THE MONTH THEN ENDED CONTENTS Attachment 1 Summary of Bank and Investment Accounts Attachment 2 Schedule of Receipts and Disbursements Attachment 3 Bank and Investment Account Statements Attachment 4 Income Statement Attachment 5 Balance Sheet Attachment 6 Summary of Due To/Due From Intercompany Accounts Attachment 7 Accounts Receivable Aging Attachment 8 Accounts Payable Detail Attachment 9 Notes to December Monthly Operating Report Summary Of Bank, Investment & Petty Cash Accounts Attachment 1 Great Pacific NW Cruise Line, L.L.C. Summary Case No: 01-10977 (JWV) UNAUDITED Great Pacific NW Cruise Line, LLC For Month Of December, 2002

Balances --------------------------------- Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 12/01/02 As Of 12/31/02 Included Included Reconciled - ------- -------------- -------------- -------- -------- ---------- Great Pacific NW Cruise Line 0.00 0.00 No - No - No - Payroll Account Account Account U.S. Bank Closed Closed Closed Account # - 153390417191 Great Pacific NW Cruise Line 0.00 0.00 No - No - No - Steamer Account Account Account U.S. Bank Closed Closed Closed Account # - 153390417191 Great Pacific NW Cruise Line 0.00 0.00 No - No - Not No - Columbia Queen Petty Cash No Activity Concentration No Activity Account

Receipts & Disbursements Attachment 2 Great Pacific NW Cruise Line, L.L.C. Summary Case No: 01-10977 (JWV) Great Pacific NW Cruise Line, LLC For Month Of December, 2002 Attach 2 No Receipts Or Disbursements Due To All Accounts Closed Concentration & Investment Account Statements Attachment 3 Great Pacific NW Cruise Line, L.L.C. Summary Case No: 01-10977 (JWV) Great Pacific NW Cruise Line, LLC For Month Of December, 2002 Attach 3 No Statements Due To No Concentration Or Investment Accounts AMCV US SET OF BOOKS Date: 16-JAN-03 16:50:20 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: DEC-02 currency USD Company=24 (COLUMBIA QUEEN) PTD-Actual 31-Dec-02 --------------- Revenue Gross Revenue 0.00 Allowances 0.00 ------------------ Net Revenue 0.00 Operating Expenses Air 0.00 Hotel 0.00 Commissions 0.00 Onboard Expenses 0.00 Passenger Expenses 0.00 Vessel Expenses 0.00 Layup/Drydock Expense 0.00 Vessel Insurance 2,966.86 ------------------ Total Operating Expenses 2,966.86 ------------------ Gross Profit (2,966.86) SG&A Expenses Sales & Marketing 0.00 Start-Up Costs 0.00 ------------------ Total SG&A Expenses 0.00 ------------------ EBITDA (2,966.86) Depreciation 0.00 ------------------ Operating Income (2,966.86) Other Expense/(Income) Interest Income 0.00 Equity in Earnings for Sub 0.00 Reorganization expenses 3,500,000.00 Other expense (235.00) ------------------ Total Other Expense/(Income) 3,499,765.00 ------------------ Net Pretax Income/(Loss) (3,502,731.86) Income Tax Expense 0.00 ------------------ Net Income/(Loss) (3,502,731.86) ================== AMCV US SET OF BOOKS Date: 20-JAN-03 12:59:31 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: DEC-02 currency USD Company=24 (COLUMBIA QUEEN)

YTD-Actual YTD-Actual 31-Dec-02 22-Oct-01 --------------- ------------ ASSETS Cash and Equivalent 0.00 31,623.21 Restricted Cash 0.00 0.00 Accounts Receivable 0.00 11,425.61 Inventories 0.00 199,562.38 Prepaid Expenses 0.00 2,800.00 Other Current Assets 0.00 0.00 -------------- -------------- Total Current Assets 0.00 245,411.20 Fixed Assets 0.00 45,093,524.95 Accumulated Depreciation 0.00 (1,870,234.50) -------------- -------------- Net Fixed Assets 0.00 43,223,290.45 Net Goodwill 0.00 0.00 Intercompany Due To/From (10,173,560.16) (9,983,225.62) Net Deferred Financing Fees 0.00 2,545,011.02 Net Investment in Subsidiaries 0.00 0.00 Other Non Current Assets 8,500,000.00 0.00 -------------- -------------- Total Other Assets (1,673,560.16) (7,438,214.60) -------------- -------------- Total Assets (1,673,560.16) 36,030,487.05 ============== ==============

AMCV US SET OF BOOKS Date: 20-JAN-03 12:59:31 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: DEC-02 currency USD Company=24 (COLUMBIA QUEEN)

YTD-Actual YTD-Actual 31-Dec-02 22-Oct-01 --------------- ------------ LIABILITIES Accounts Payable 0.00 180.00 Accrued Liabilities 0.00 331,444.68 Deposits 0.00 0.00 ------------------ ------------------ Total Current Liabilities 0.00 331,624.68 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 0.00 ------------------ ------------------ Total Liabilities 0.00 331,624.68 Liabilities Subject to Compromise 37,726,764.76 37,792,814.64 OWNER'S EQUITY Common Stock 0.00 0.00 Add'l Paid In Capital 0.00 0.00 Current Net Income (Loss) (37,215,419.11) 18,578.51 Retained Earnings (2,184,905.81) (2,112,530.78) ------------------ ------------------ Total Owner's Equity (39,400,324.92) (2,093,952.27) ------------------ ------------------ Total Liabilities & Equity (1,673,560.16) 36,030,487.05 ================== ==================

Great Pacific NW Cruise Line, LLC ATTACHMENT 6 01-10977 (JWV) Summary List of Due To/Due From Accounts For the Months Ended December 31, 2002

CASE BEGINNING ENDING AFFILIATE NAME NUMBER BALANCE DEBITS CREDITS BALANCE American Classic Voyages Co. 01-10954 15,472,508.20 - - 15,472,508.20 AMCV Cruise Operations, Inc. 01-10967 (9,434,276.58) - - (9,434,276.58) The Delta Queen Steamboat Co. 01-10970 8,349,046.78 - 2,966.86 8,346,079.92 DQSB II, Inc. 01-10974 (339.49) - - (339.49) Great AQ Steamboat, L.L.C. 01-10960 (5,552.79) - - (5,552.79) Great River Cruise Line, L.L.C. 01-10963 (4,812.08) - - (4,812.08) Great Ocean Cruise Line, L.L.C. 01-10959 (10,219.55) - - (10,219.55) Cruise America Travel, Incorporated 01-10966 (674,733.24) - - (674,733.24) Delta Queen Coastal Voyages, L.L.C. 01-10964 118,887.26 - - 118,887.26 Cape May Light, L.L.C. 01-10961 5,380.67 - - 5,380.67 Project America, Inc. N/A (27,500.00) - - (27,500.00) Oceanic Ship Co. N/A 1,701.33 - - 1,701.33 Project America Ship I, Inc. N/A 291,567.65 - - 291,567.65 Ocean Development Co. 01-10972 (24,185,738.20) - - (24,185,738.20) Great Hawaiian Properties Corporation 01-10971 (66,513.26) - - (66,513.26) --------------------------------------------------------------------- (10,170,593.30) - 2,966.86 (10,173,560.16) =====================================================================

Great Pacific NW Cruise Line, L.L.C. 01-10977 (JWV) Accounts Receivable Aging As of December 31, 2002 Attachment 7 Not Applicable Great Pacific NW Cruise Line, L.L.C. 01-10977 (JWV) Accounts Payable Detail As of December 31, 2002 Attachment 8 Not Applicable DEBTOR: GREAT PACIFIC NW CRUISE LINE, L.L.C. CASE NUMBER: 01-10977 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 30, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO DECEMBER MONTHLY OPERATING REPORT The information contained herein is unaudited. Liabilities included in these financial statements reflect amounts known by the Company to have been incurred. The Company has listed in prior filings with the United States Trustee potential additional claims it believes may be asserted against the Company. To the best of the Debtor's knowledge and belief, based on currently available information, all Federal income and payroll taxes due and owing have been paid. 1. The Debtor had previously forfeited to the Maritime Administration ("Marad"), the secured creditor, its primary asset, the Columbia Queen. During December, the Debtor wrote-down the amount deemed allocable to the secured debt for the expectant sale by Marad in accordance with the Revised Stipulation with Marad. -----END PRIVACY-ENHANCED MESSAGE-----

EX-99.1

                                                                   EXHIBIT 99.1


DEBTOR: AMERICAN CLASSIC VOYAGES CO.                CASE NUMBER: 01-10954 (JWV)

                            MONTHLY OPERATING REPORT
                            AS OF DECEMBER 31, 2002
                                      AND
                            FOR THE MONTH THEN ENDED








In accordance with title 28, section 1746, of the United States Code, I declare
under penalty of perjury that I have examined the attached December Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.





/s/ EDDIE J. PUSTIZZI
- ---------------------
Eddie J. Pustizzi
Director, Accounting




DEBTOR: AMERICAN CLASSIC VOYAGES CO.                CASE NUMBER: 01-10954 (JWV)

                            MONTHLY OPERATING REPORT
                            AS OF DECEMBER 31, 2002
                                      AND
                            FOR THE MONTH THEN ENDED





                                    CONTENTS

                        
Attachment 1               Summary of Bank and Investment Accounts

Attachment 2               Schedule of Receipts and Disbursements

Attachment 3               Bank and Investment Account Statements

Attachment 4               Income Statement

Attachment 5               Balance Sheet

Attachment 6               Summary of Due To/Due From Intercompany Accounts

Attachment 7               Accounts Receivable Aging

Attachment 8               Accounts Payable Detail

Attachment 9               Notes to December Monthly Operating Report








                                  Summary Of Bank And Investment Accounts                 Attachment 1
                                  ---------------------------------------
                                        American Classic Voyages Co
                                        ---------------------------
Summary                                   Case No: 01-10954 (JWV)                           UNAUDITED
                                          -----------------------
American Classic Voyages Co           For Month Of December, 2002
                                      ---------------------------

                                           Balances
                                -----------------------------  Receipts &     Bank
                                    Opening        Closing     Disbursements  Statements       Account
Account                        As Of 12/01/02 As Of 12/31/02   Included       Included         Reconciled
- -------                        -----------------------------   -------------  ----------       ----------
                                                                                
AMCV Deferred Compensation               0.00           0.00   No -           No -             No -
Bank One                                                       Account        Account          Account
Account # - 1590101554                                         Closed         Closed           Closed

AMCV Dental Benefits                     0.00           0.00   No -           No -             No -
Chase (JP Morgan Chase & Co)                                   Account        Account          Account
Account # - 002-2-426530                                       Closed         Closed           Closed

AMCV Employee Stock Plan                 0.00           0.00   No -           No -             No -
LaSalle Bank                                                   Account        Account          Account
Account # - 5800015140                                         Closed         Closed           Closed

AMCV Insurance                           0.00           0.00   No -           No -             No -
LaSalle Bank                                                   Account        Account          Account
Account # - 5800021411                                         Closed         Closed           Closed

AMCV Medical Benefits                5,055.54       5,055.54   Yes            No - Not         Yes
Chase (JP Morgan Chase & Co)                                                  Concentration
Account # - 002-2-426522                                                      Account

American Classic Voyages Co              0.00           0.00   No -           No -             No -
Master Cash                                                    Account        Account          Account
LaSalle Bank                                                   Closed         Closed           Closed
Account # - 2355464

American Classic Voyages Co              0.00           0.00   No -           No -             No -
Payroll                                                        Account        Account          Account
LaSalle Bank                                                   Closed         Closed           Closed
Account # - 2369368

American Classic Voyages Co              0.00           0.00   No -           No -             No -
PAC                                                            Account        Account          Account
LaSalle Bank                                                   Closed         Closed           Closed
Account # - 2355882

American Classic Voyages Co              0.00           0.00   No -           No -             No -
Investment Account                                             Account        Account          Account
Credit Suisse Asset Management                                 Closed         Closed           Closed
Account # - 247003452

American Classic Voyages Co              0.00           0.00   No -           No -             No -
Investment Account                                             Account        Account          Account
Goldman Sachs & Co.                                            Closed         Closed           Closed
Account # - 020-53613-2

American Classic Voyages Co              0.00           0.00   No -           No -             No -
Investment Account                                             Account        Account          Account
Merrill Lynch                                                  Closed         Closed           Closed
Account # - 318-3271750-7

American Classic Voyages Co              0.00           0.00   No -           No -             No -
Investment Account                                             Account        Account          Account
Conifer Securities                                             Closed         Closed           Closed
Account # - 330-50683 1-8






                                                  Receipts & Disbursements                           Attachment 2
                                                  ------------------------
                                                  American Classic Voyages
                                                  ------------------------
R&D - Chase - AMCV Med Ben                        Case No: 01-10954 (JWV)                            UNAUDITED
                                                  -----------------------
                                                           Chase
                                                           -----
                                                   AMCV Medical Benefits
                                                  -----------------------
                                                  Account # - 002-2-426522
                                                  ------------------------
                                               1 December 02 - 31 December 02
                                               ------------------------------
Opening Balance - 1 December 02
- -------------------------------
                                        
                                5,055.54


Receipts
- --------


                                     0.00     Reversal



                                --------
                                     0.00     Total Receipts


Disbursements
- -------------

                                              To United Healthcare (Svce charge)



                                --------
                                     0.00     Total Disbursements



Closing Balance - 31 December  02
- ---------------------------------
                                 5,055.54






                                   Concentration & Investment Account Statements                       Attachment 3
                                   ---------------------------------------------
                                            American Classic Voyages Co.
                                            ----------------------------
Summary                                       Case No: 01-10954 (JWV)
                                              -----------------------
American Classic Voyages Co.                For Month Of December, 2002
                                            ---------------------------
Attach 3


           
              No Statements Due To No Concentration Or Investment Accounts





AMCV US SET OF BOOKS                              Date: 17-JAN-03 11:10:26
INCOME STATEMENT - ATTACHMENT 4                   Page:   1
Current Period: DEC-02

currency USD
Company=10 (AMCV)



                                                         PTD-Actual
                                                         31-Dec-02
                                                       --------------
                                                    
Revenue
Gross Revenue                                                    0.00
Allowances                                                       0.00
                                                       --------------
Net Revenue                                                      0.00

Operating Expenses
Air                                                              0.00
Hotel                                                            0.00
Commissions                                                      0.00
Onboard Expenses                                                 0.00
Passenger Expenses                                               0.00
Vessel Expenses                                                  0.00
Layup/Drydock Expense                                            0.00
Vessel Insurance                                                 0.00
                                                       --------------
Total Operating Expenses                                         0.00

                                                       --------------
Gross Profit                                                     0.00

SG&A Expenses
General and Admin Expenses                                 215,174.30
Sales & Marketing                                                0.00
Start-Up Costs                                                   0.00
                                                       --------------
Total SG&A Expenses                                        215,174.30

                                                       --------------
EBITDA                                                    (215,174.30)

Depreciation                                                13,166.85

                                                       --------------
Operating Income                                          (228,341.15)

Other Expense/(Income)
Interest Income                                            (32,230.15)
Equity in Earnings for Sub                              (9,585,509.09)
Reorganization expenses                                    759,622.56
                                                       --------------
Total Other Expense/(Income)                            10,312,901.50

                                                       --------------
Net Pretax Income/(Loss)                               (10,541,242.65)

Income Tax Expense                                       3,221,982.41

                                                       --------------
Net Income/(Loss)                                      (13,763,225.06)
                                                       ==============





AMCV US SET OF BOOKS                              Date: 20-JAN-03 12:55:59
BALANCE SHEET - ATTACHMENT 5                      Page:   1
Current Period: DEC-02

currency USD
Company=10 (AMCV)



                                                     YTD-Actual                     YTD-Actual
                                                     31-Dec-02                      19-Oct-01
                                                  ---------------                 --------------
                                                                            
ASSETS

Cash and Equivalent                                          0.00                  10,343,248.25

Restricted Cash                                              0.00                           0.00

Marketable Securities                                        0.00                         337.15

Accounts Receivable                                     49,321.00                   3,678,916.74

Inventories                                                  0.00                           0.00

Prepaid Expenses                                             0.00                           0.00

Other Current Assets                                         0.00                           0.00

                                                  ---------------                 --------------
Total Current Assets                                    49,321.00                  14,022,502.14


Fixed Assets                                         3,668,304.25                   4,979,716.68

Accumulated Depreciation                            (3,653,012.51)                 (4,497,369.91)

                                                  ---------------                 --------------
Net Fixed Assets                                        15,291.74                     482,346.77


Net Goodwill                                                 0.00                      81,420.64

Intercompany Due To/From                           268,986,865.62                 265,726,906.60

Net Deferred Financing Fees                                  0.00                   3,408,954.89

Net Investment in Subsidiaries                    (565,207,858.70)                 48,551,297.73

Other Non Current Assets                                     0.00                     109,986.54

                                                  ---------------                 --------------
Total Other Assets                                (296,220,993.08)                317,878,566.40

                                                  ---------------                 --------------
Total Assets                                      (296,156,380.34)                332,383,415.31
                                                  ===============                 ==============





AMCV US SET OF BOOKS                              Date: 20-JAN-03 12:55:59
BALANCE SHEET - ATTACHMENT 5                      Page:   2
Current Period: DEC-02

currency USD
Company=10 (AMCV)



                                                     YTD-Actual                     YTD-Actual
                                                     31-Dec-02                      19-Oct-01
                                                  ---------------                 --------------
                                                                            
LIABILITIES

Accounts Payable                                             0.00                           0.00

Accrued Liabilities                                  1,528,170.78                   1,089,864.63

Deposits                                                     0.00                           0.00

                                                  ---------------                 --------------
Total Current Liabilities                            1,528,170.78                   1,089,864.63


Long Term Debt                                               0.00                           0.00

Other Long Term Liabilities                                  0.00                  (3,434,093.96)

                                                  ---------------                 --------------
Total Liabilities                                    1,528,170.78                  (2,344,229.33)


Liabilities Subject to Compromise                  193,616,560.47                 200,418,510.55


OWNER'S EQUITY

Common Stock                                           211,013.08                     211,013.08

Add'l Paid In Capital                              204,438,037.35                 204,438,037.35

Current Net Income (Loss)                         (621,929,695.02)                (40,694,620.74)

Retained Earnings                                  (74,020,467.00)                (29,645,295.60)

                                                  ---------------                 --------------
Total Owner's Equity                              (491,301,111.59)                134,309,134.09

                                                  ---------------                 --------------
Total Liabilities & Equity                        (296,156,380.34)                332,383,415.31
                                                  ===============                 ==============






AMERICAN CLASSIC VOYAGES CO.                                  ATTACHMENT 6                        01-10954 (JWV)
                                                   Summary List of Due To/Due From Accounts
                                                    For the Month Ended December 31, 2002


                                                   CASE         BEGINNING                                        ENDING
AFFILIATE NAME                                    NUMBER         BALANCE          DEBITS       CREDITS           BALANCE
- --------------                                   --------     --------------     ---------    ----------     --------------
                                                                                              
AMCV Cruise Operations, Inc.                     01-10967      81,720,746.28     32,230.15    642,560.85      81,110,415.58
The Delta Queen Steamboat Co.                    01-10970       6,204,670.44            --            --       6,204,670.44
DQSB II, Inc.                                    01-10974          22,836.06            --            --          22,836.06
Great AQ Steamboat, L.L.C.                       01-10960     (22,406,500.51)           --            --     (22,406,500.51)
Great Pacific NW Cruise Line, L.L.C.             01-10977     (15,472,508.20)           --            --     (15,472,508.20)
Great River Cruise Line, L.L.C.                  01-10963       6,704,338.25            --            --       6,704,338.25
Great Ocean Cruise Line, L.L.C.                  01-10959     (29,579,572.10)           --            --     (29,579,572.10)
Cruise America Travel, Incorporated              01-10966         103,377.71            --            --         103,377.71
Delta Queen Coastal Voyages, L.L.C.              01-10964         934,299.38            --            --         934,299.38
Cape Cod Light, L.L.C.                           01-10962      (1,670,131.78)           --            --      (1,670,131.78)
Cape May Light, L.L.C.                           01-10961        (656,374.33)           --            --        (656,374.33)
Project America, Inc.                            N/A          (29,154,390.86)           --            --     (29,154,390.86)
Oceanic Ship Co.                                 N/A           41,569,782.42            --            --      41,569,782.42
Project America Ship I, Inc.                     N/A            1,793,166.15            --            --       1,793,166.15
Project America Ship II, Inc.                    N/A           27,241,846.63            --            --      27,241,846.63
Ocean Development Co.                            01-10972     206,389,119.70            --            --     206,389,119.70
Great Hawaiian Cruise Line, Inc.                 01-10975       3,571,229.75            --            --       3,571,229.75
Great Hawaiian Properties Corporation            01-10971     (51,110,970.59)           --            --     (51,110,970.59)
American Hawaii Properties Corporation           01-10976       2,484,040.72            --            --       2,484,040.72
Great Independence Ship Co.                      01-10969      24,948,774.58            --            --      24,948,774.58
CAT II, Inc.                                     01-10968      15,959,416.62            --            --      15,959,416.62
                                                              --------------     ---------    ----------     --------------
                                                              269,597,196.32     32,230.15    642,560.85     268,986,865.62
                                                              ==============     =========    ==========     ==============





AMERICAN CLASSIC VOYAGES CO.                        CASE #: 01-10954 (JWV)


ACCOUNTS RECEIVABLE RECONCILIATION AND AGING



DETAIL:                                               0-30 DAYS         31-60 DAYS     61-90 DAYS     91+ DAYS     TOTAL
                                                      ---------         ----------     ----------     --------   ---------
                                                                                                  
State of Delaware                                     49,321.00                                                  49,321.00
American Express Credit Card Processor                                                                                0.00
Discover Credit Card Processor                                                                                        0.00
Diners Credit Card Processor                                                                                          0.00
Travel Agents                                                                                                         0.00
Crew Member                                                                                                           0.00

                                                      ---------         ----------     ----------     --------   ---------
Total                                                 49,321.00            0.00           0.00          0.00     49,321.00
                                                      =========         ==========     ==========     ========   =========






                                                                  ATTACHMENT #7




                          American Classic Voyages Co.
                                 01-10954 (JWV)




                            Accounts Payable Detail
                            As of December 31, 2002







                                  Attachment 8


                                 Not Applicable




DEBTOR: AMERICAN CLASSIC VOYAGES CO.                CASE NUMBER: 01-10954 (JWV)

                            MONTHLY OPERATING REPORT
                            AS OF DECEMBER 31, 2002
                                      AND
                            FOR THE MONTH THEN ENDED


                                 ATTACHMENT 9
                  NOTES TO DECEMBER MONTHLY OPERATING REPORT


The information contained herein is unaudited.

Liabilities included in these financial statements reflect amounts known by the
Company to have been incurred. The Company has listed in prior filings with the
United States Trustee potential additional claims it believes may be asserted
against the Company.

To the best of the Debtor's knowledge and belief, based on currently available
information, all Federal income and payroll taxes due and owing have been paid.

1.       Deferred financing costs represent costs incurred in connection with
         placing pre-petition debt instruments. Net unamortized deferred
         financing costs were reclassed to reduce the net carrying value of the
         related debt held as a liability subject to compromise.

2.       Other long-term liabilities had consisted of deferred tax assets and
         liabilities, net. Deferred tax assets and liabilities had been
         recognized for the expected future tax consequences of temporary
         differences between carrying amounts and the tax basis of assets and
         liabilities. The Debtor adjusted the recorded amounts to zero based
         upon the expected outcome of Chapter 11 proceedings.

3.       The Debtor has ceased recording accruals for distributions on its
         Trust Preferred securities. Historically, these accruals for these
         distributions were charged to "interest expense and other financing
         costs."

4.       Pre-petition hold-backs by Paymentech, Inc., the Debtor's credit card
         processing agent, were reclassed to liabilities subject to compromise
         in order to reduce the net liability for pre-petition customer
         deposits.

5.       The Debtor further reduced the carrying value of its net fixed asset
         to reflect the expected fair market value.

EX-99.2

                                                                    EXHIBIT 99.2



DEBTOR: GREAT OCEAN CRUISE LINE, L.L.C.             CASE NUMBER: 01-10959 (JWV)

                            MONTHLY OPERATING REPORT
                            AS OF DECEMBER 31, 2002
                                      AND
                            FOR THE MONTH THEN ENDED


In accordance with title 28, section 1746, of the United States Code, I declare
under penalty of perjury that I have examined the attached December Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.





/s/ EDDIE J. PUSTIZZI
- ----------------------
Eddie J. Pustizzi
Director, Accounting




DEBTOR:  GREAT OCEAN CRUISE LINE, L.L.C.            CASE NUMBER:  01-10959 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED


                                    CONTENTS


Attachment 1               Summary of Bank and Investment Accounts

Attachment 2               Schedule of Receipts and Disbursements

Attachment 3               Bank and Investment Account Statements

Attachment 4               Income Statement

Attachment 5               Balance Sheet

Attachment 6               Summary of Due To/Due From Intercompany Accounts

Attachment 7               Accounts Receivable Aging

Attachment 8               Accounts Payable Detail

Attachment 9               Notes to December Monthly Operating Report







                                                                                                                  
                                   Summary Of Bank, Investment & Petty Cash Accounts                                    Attachment 1
                                              Great Ocean Cruise Line, L.L.C.
Summary                                           Case No: 01-10959 (JWV)                                                 UNAUDITED
Great Ocean Cruise Line, LLC                     For Month Of December, 2002







                                                Balances
                                --------------------------------      Receipts &           Bank
                                  Opening              Closing        Disbursements        Statements          Account
Account                         As Of 12/01/02    As Of 12/31/02      Included             Included            Reconciled
- -------                         --------------    --------------      --------             --------            ----------
                                                                                                
Mississippi Queen Steamer          4,000.00           0.00              Yes                No - Not            Yes
Hibernia                                                                                   Concentration
Account # - 812-502-719                                                                    Account

Mississippi Queen                      0.00           0.00              No - No            Not A Bank          No - No
Petty Cash                                                              Activity           Account             Activity



                                      Receipts & Disbursements      Attachment 2
                                   Great Ocean Cruise Line, L.L.C.
R&D - Hibernia - MQ Steamer        Case No: 01-10959 (JWV)             UNAUDITED
                                                Hibernia
                                   Mississippi Queen Steamer Account
                                          Account # - 812-502-719
                                    1 December 02 - 31 December 02

Opening Balance - 1 December 02
                 4,000.00


Receipts






                ---------
                     0.00    Total Receipts


Disbursements
                (4,000.00)   To Delta Queen Steamboat CO -
                             Hibernia - DQSC Master Cash - Account (812-395-335)



                ---------
                (4,000.00)   Total Disbursements



Closing Balance - 31 December 02
                     0.00


                                                                                        
                                    Concentration & Investment Account Statements             Attachment 3
                                           Great Ocean Cruise Line, L.L.C.
Summary                                      Case No: 01-10959 (JWV)
Great Ocean Cruise Line, LLC                  For Month Of December, 2002
Attach 3




              No Statements Due To No Concentration Or Investment Accounts

AMCV US SET OF BOOKS                              Date: 16-JAN-03 16:50:15
INCOME STATEMENT - ATTACHMENT 4                   Page:   1
Current Period: DEC-02

currency USD
Company=21 (MISSISSIPPI QUEEN)
                                             
                                                  PTD-Actual
                                                  31-Dec-02
                                                ------------
Revenue
Gross Revenue                                           0.00
Allowances                                              0.00
                                                ------------
Net Revenue                                             0.00

Operating Expenses
Air                                                     0.00
Hotel                                                   0.00
Commissions                                             0.00
Onboard Expenses                                        0.00
Passenger Expenses                                    266.12
Vessel Expenses                                         0.00
Layup/Drydock Expense                                   0.00
Vessel Insurance                                   10,139.71
                                                ------------
Total Operating Expenses                           10,405.83

                                                ------------
Gross Profit                                      (10,405.83)

SG&A Expenses
Sales & Marketing                                       0.00
Start-Up Costs                                          0.00
                                                ------------
Total SG&A Expenses                                     0.00

                                                ------------
EBITDA                                            (10,405.83)

Depreciation                                            0.00

                                                ------------
Operating Income                                  (10,405.83)

Other Expense/(Income)
Interest Income                                         0.00
Equity in Earnings for Sub                              0.00
Reorganization expenses                                 0.00
Other expense                                      (5,600.90)
                                                ------------
Total Other Expense/(Income)                       (5,600.90)

                                                ------------
Net Pretax Income/(Loss)                           (4,804.93)

Income Tax Expense                                      0.00

                                                ------------
Net Income/(Loss)                                  (4,804.93)
                                                ============




AMCV US SET OF BOOKS                                Date: 20-JAN-03 12:58:40
BALANCE SHEET - ATTACHMENT 5                        Page:   1
Current Period: DEC-02

currency USD
Company=21 (MISSISSIPPI QUEEN)


                                                 YTD-Actual                     YTD-Actual
                                                  31-Dec-02                     22-Oct-01
                                             -----------------               -----------------
                                                                       
ASSETS

Cash and Equivalent                                       0.00                       91,427.94

Restricted Cash                                           0.00                            0.00

Accounts Receivable                                       0.00                       61,448.42

Inventories                                               0.00                      387,173.50

Prepaid Expenses                                          0.00                        9,438.70

Other Current Assets                                      0.00                      (14,555.00)
                                             -----------------               -----------------
Total Current Assets                                      0.00                      534,933.56


Fixed Assets                                              0.00                   32,530,486.54

Accumulated Depreciation                                  0.00                  (22,994,750.57)
                                             -----------------               -----------------
Net Fixed Assets                                          0.00                    9,535,735.97


Net Goodwill                                              0.00                            0.00

Intercompany Due To/From                         21,315,422.40                   19,836,574.32

Net Deferred Financing Fees                               0.00                            0.00

Net Investment in Subsidiaries                            0.00                            0.00
                                             -----------------               -----------------
Total Other Assets                               21,315,422.40                   19,836,574.32
                                             -----------------               -----------------
Total Assets                                     21,315,422.40                   29,907,243.85
                                             =================               =================




AMCV US SET OF BOOKS                                   Date: 20-JAN-03 12:58:40
BALANCE SHEET - ATTACHMENT 5                           Page:   2
Current Period: DEC-02

currency USD
Company=21 (MISSISSIPPI QUEEN)


                                                  YTD-Actual                     YTD-Actual
                                                   31-Dec-02                     22-Oct-01
                                                -----------------            -----------------
                                                                       
LIABILITIES

Accounts Payable                                             0.00                     9,423.11

Accrued Liabilities                                          0.00                   935,232.90

Deposits                                                     0.00                         0.00
                                                -----------------            -----------------
Total Current Liabilities                                    0.00                   944,656.01


Long Term Debt                                               0.00                         0.00

Other Long Term Liabilities                                  0.00                         0.00
                                                -----------------            -----------------
Total Liabilities                                            0.00                   944,656.01


Liabilities Subject to Compromise                    2,296,086.22                 2,827,647.41


OWNER'S EQUITY

Common Stock                                                 0.00                         0.00

Add'l Paid In Capital                                4,571,000.00                 4,571,000.00

Current Net Income (Loss)                           (6,757,806.54)                 (984,131.23)

Retained Earnings                                   21,206,142.72                22,548,071.66
                                                -----------------            -----------------
Total Owner's Equity                                19,019,336.18                26,134,940.43
                                                -----------------            -----------------
Total Liabilities & Equity                          21,315,422.40                29,907,243.85
                                                =================            =================



                                                                                      
Great Ocean Cruise Line, LLC                             ATTACHMENT 6                       01-10959 (JWV)
                                            Summary List of Due To/Due From Accounts
                                             For the Month Ended December 31, 2002





                                            CASE            BEGINNING                                                   ENDING
AFFILIATE NAME                             NUMBER            BALANCE             DEBITS             CREDITS             BALANCE
                                                                                                            
American Classic Voyages Co.              01-10954        29,579,572.10               --                   --        29,579,572.10
AMCV Cruise Operations, Inc.              01-10967       (22,093,131.96)              --                   --       (22,093,131.96)
The Delta Queen Steamboat Co.             01-10970        17,374,876.19         4,000.00           129,631.33        17,249,244.86
DQSB II, Inc.                             01-10974              (877.52)              --                   --              (877.52)
Great AQ Steamboat, L.L.C                 01-10960            14,507.47               --                   --            14,507.47
Great Pacific NW Cruise Line, L.L.C       01-10977            10,219.55               --                   --            10,219.55
Great River Cruise Line, L.L.C            01-10963          (503,950.75)              --                   --          (503,950.75)
Cruise America Travel, Incorporated       01-10966        (2,953,907.27)              --                   --        (2,953,907.27)
Delta Queen Coastal Voyages, L.L.C        01-10964            85,950.95               --                   --            85,950.95
Cape Cod Light, L.L.C                     01-10962             4,980.00               --                   --             4,980.00
Cape May Light, L.L.C                     01-10961             1,844.01               --                   --             1,844.01
Project America, Inc.                     N/A                 (4,475.20)              --                   --            (4,475.20)
Great Hawaiian Cruise Line, Inc.          01-10975           (37,394.43)              --                   --           (37,394.43)
Great Hawaiian Properties Corporation     01-10971           (34,964.32)              --                   --           (34,964.32)
Great Independence Ship Co.               01-10969            (2,195.09)              --                   --            (2,195.09)
                                                        --------------------------------------------------------------------------
                                                          21,441,053.73         4,000.00           129,631.33        21,315,422.40
                                                        ==========================================================================




                         Great Ocean Cruise Line, L.L.C.
                                 01-10959 (JWV)




                            Accounts Receivable Aging
                             As of December 31, 2002







                                  Attachment 7


                                 Not Applicable



                         Great Ocean Cruise Line, L.L.C.
                                 01-10959 (JWV)




                             Accounts Payable Detail
                             As of December 31, 2002







                                  Attachment 8


                                 Not Applicable




DEBTOR:  GREAT OCEAN CRUISE LINE, L.L.C.            CASE NUMBER:  01-10959 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 30, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

                                  ATTACHMENT 9
                   NOTES TO DECEMBER MONTHLY OPERATING REPORT


The information contained herein is unaudited.

Liabilities included in these financial statements reflect amounts known by the
Company to have been incurred. The Company has listed in prior filings with the
United States Trustee potential additional claims it believes may be asserted
against the Company.

To the best of the Debtor's knowledge and belief, based on currently available
information, all Federal income and payroll taxes due and owing have been paid.


1.       The reduction in liabilities subject to compromise was due to a
         reduction in priority passenger claims. Waivers received by Delaware
         North Companies were reimbursed from escrowed cash held by The Delta
         Queen Steamboat Co., an affiliated Debtor, as provided for in the Asset
         Purchase Agreement dated May 13, 2002.

EX-99.3

                                                                   EXHIBIT 99.3

DEBTOR:  GREAT AQ STEAMBOAT, L.L.C.                 CASE NUMBER:  01-10960 (JWV)

                            MONTHLY OPERATING REPORT
                            AS OF DECEMBER 31, 2002
                                      AND
                            FOR THE MONTH THEN ENDED

In accordance with title 28, section 1746, of the United States Code, I declare
under penalty of perjury that I have examined the attached December Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.



/s/ EDDIE J. PUSTIZZI
- ----------------------
Eddie J. Pustizzi
Director, Accounting



DEBTOR:  GREAT AQ STEAMBOAT, L.L.C.                 CASE NUMBER:  01-10960 (JWV)

                            MONTHLY OPERATING REPORT
                            AS OF DECEMBER 31, 2002
                                      AND
                            FOR THE MONTH THEN ENDED

                                    CONTENTS

Attachment 1               Summary of Bank and Investment Accounts

Attachment 2               Schedule of Receipts and Disbursements

Attachment 3               Bank and Investment Account Statements

Attachment 4               Income Statement

Attachment 5               Balance Sheet

Attachment 6               Summary of Due To/Due From Intercompany Accounts

Attachment 7               Accounts Receivable Aging

Attachment 8               Accounts Payable Detail

Attachment 9               Notes to December Monthly Operating Report




                                                                           
               Summary Of Bank, Investment & Petty Cash Accounts                 Attachment 1
                           Great AQ Steamboat, L.L.C.
Summary                      Case No: 01-10960 (JWV)                                UNAUDITED
Great AQ Steamboat, LLC    For Month Of December, 2002





                                              Balances
                                  --------------------------------        Receipts &            Bank
                                   Opening          Closing               Disbursements         Statements            Account
Account                           As Of 12/01/02    As Of 12/31/02        Included              Included              Reconciled
- -------                           --------------    --------------        --------              --------              ----------
                                                                                                       
American Queen Steamer                     0.00             0.00          No -                  No -                  No -
Hibernia                                                                  Account Closed        Account Closed        Account Closed
Account # - 812-395-343

American Queen                             0.00             0.00          No -                  Not A Bank            No -
Petty Cash                                                                No Activity           Account               No Activity




                                                                                              
                                       Receipts & Disbursements                                     Attachment 2
                                      Great AQ Steamboat, L.L.C.
                                       Case No: 01-10960 (JWV)
Great AQ Steamboat, LLC              For Month Of December, 2002
Attach 2



            No Receipts Or Disbursements Due To All Accounts Closed



                                                                             
                 Concentration & Investment Account Statements                     Attachment 3
                           Great AQ Steamboat, L.L.C.
Summary                     Case No: 01-10960 (JWV)
Great AQ Steamboat, LLC   For Month Of December, 2002
Attach 3



          No Statements Due To No Concentration Or Investment Accounts



AMCV US SET OF BOOKS                              Date: 16-JAN-03 16:50:15
INCOME STATEMENT - ATTACHMENT 4                   Page:   1
Current Period: DEC-02

currency USD
Company=23 (AMERICAN QUEEN)



                                                     PTD-Actual
                                                     31-Dec-02
                                                  ---------------
                                               
Revenue
Gross Revenue                                                 0.00
Allowances                                                    0.00
                                                  ----------------
Net Revenue                                                   0.00

Operating Expenses
Air                                                           0.00
Hotel                                                         0.00
Commissions                                                   0.00
Onboard Expenses                                              0.00
Passenger Expenses                                            0.00
Vessel Expenses                                               0.00
Layup/Drydock Expense                                         0.00
Vessel Insurance                                            813.10
                                                  ----------------
Total Operating Expenses                                    813.10

                                                  ----------------
Gross Profit                                               (813.10)

SG&A Expenses
Sales & Marketing                                             0.00
Start-Up Costs                                                0.00
                                                  ----------------
Total SG&A Expenses                                           0.00

                                                  ----------------
EBITDA                                                     (813.10)

Depreciation                                                  0.00

                                                  ----------------
Operating Income                                           (813.10)

Other Expense/(Income)
Interest Income                                               0.00
Equity in Earnings for Sub                                    0.00
Reorganization expenses                                       0.00
Other expense                                            (1,774.58)
                                                  ----------------
Total Other Expense/(Income)                             (1,774.58)

                                                  ----------------
Net Pretax Income/(Loss)                                    961.48

Income Tax Expense                                            0.00

                                                  ----------------
Net Income/(Loss)                                           961.48
                                                  ================




AMCV US SET OF BOOKS                              Date: 20-JAN-03 12:58:48
BALANCE SHEET - ATTACHMENT 5                      Page:   1
Current Period: DEC-02

currency USD
Company=23 (AMERICAN QUEEN)



                                                 YTD-Actual                    YTD-Actual
                                                  31-Dec-02                     22-Oct-01
                                              -----------------             ------------------
                                                                      
ASSETS

Cash and Equivalent                                        0.00                      27,915.55

Restricted Cash                                            0.00                           0.00

Accounts Receivable                                        0.00                     100,111.04

Inventories                                                0.00                     436,746.94

Prepaid Expenses                                           0.00                       1,126.00

Other Current Assets                                       0.00                     189,129.97

                                              -----------------             ------------------
Total Current Assets                                       0.00                     755,029.50


Fixed Assets                                               0.00                  76,449,630.83

Accumulated Depreciation                                   0.00                 (23,703,366.77)

                                              -----------------             ------------------
Net Fixed Assets                                           0.00                  52,746,264.06


Net Goodwill                                               0.00                           0.00

Intercompany Due To/From                          33,291,695.56                  11,900,053.46

Net Deferred Financing Fees                                0.00                     561,110.86

Net Investment in Subsidiaries                             0.00                           0.00

                                              -----------------             ------------------
Total Other Assets                                33,291,695.56                  12,461,164.32

                                              -----------------             ------------------
Total Assets                                      33,291,695.56                  65,962,457.88
                                              =================             ==================




AMCV US SET OF BOOKS                              Date: 20-JAN-03 12:58:48
BALANCE SHEET - ATTACHMENT 5                      Page:   2
Current Period: DEC-02

currency USD
Company=23 (AMERICAN QUEEN)


                                                 YTD-Actual                    YTD-Actual
                                                  31-Dec-02                     22-Oct-01
                                              -----------------             ------------------
                                                                      
LIABILITIES

Accounts Payable                                           0.00                       5,469.58

Accrued Liabilities                                        0.00                     754,127.79

Deposits                                                   0.00                          25.00

                                              ------------------            -------------------
Total Current Liabilities                                  0.00                     759,622.37


Long Term Debt                                             0.00                           0.00

Other Long Term Liabilities                                0.00                           0.00

                                              ------------------            -------------------
Total Liabilities                                          0.00                     759,622.37


Liabilities Subject to Compromise                  2,128,870.73                  48,583,115.71


OWNER'S EQUITY

Common Stock                                           1,000.00                       1,000.00

Add'l Paid In Capital                              4,060,000.00                   4,060,000.00

Current Net Income (Loss)                         14,727,173.53                    (493,470.71)

Retained Earnings                                 12,374,651.30                  13,052,190.51

                                              ------------------            -------------------
Total Owner's Equity                              31,162,824.83                  16,619,719.80

                                              ------------------            -------------------
Total Liabilities & Equity                        33,291,695.56                  65,962,457.88
                                              ==================            ===================




                                                                                                                
Great AQ Steamboat, LLC                                            ATTACHMENT 6                                       01-10960(JWV)
                                                     Summary List of Due To/Due From Accounts
                                                      For the Month Ended December 31, 2002





                                                CASE              BEGINNING                                             ENDING
AFFILIATE NAME                                  NUMBER             BALANCE             DEBITS       CREDITS             BALANCE
                                                                                                    
American Classic Voyages Co.                    01-10954            22,406,500.51         -                -        22,406,500.51
AMCV Cruise Operations, Inc.                    01-10967           (22,866,931.85)        -                -       (22,866,931.85)
The Delta Queen Steamboat Co.                   01-10970            38,756,706.53         -        73,062.00        38,683,644.53
DQSB II, Inc.                                   01-10974                  (919.60)        -                -              (919.60)
Great Pacific NW Cruise Line, L.L.C.            01-10977                 5,552.79         -                -             5,552.79
Great River Cruise Line, L.L.C.                 01-10963              (168,013.44)        -                -          (168,013.44)
Great Ocean Cruise Line, L.L.C.                 01-10959               (14,507.47)        -                -           (14,507.47)
Cruise America Travel, Incorporated             01-10966            (3,165,198.27)        -                -        (3,165,198.27)
Delta Queen Coastal Voyages, L.L.C.             01-10964               144,264.37         -                -           144,264.37
Cape Cod Light, L.L.C.                          01-10962              (500,000.00)        -                -          (500,000.00)
Cape May Light, L.L.C.                          01-10961            (1,640,241.44)        -                -        (1,640,241.44)
Project America, Inc.                           N/A                    (15,864.24)        -                -           (15,864.24)
Oceanic Ship Co.                                N/A                     (7,408.30)        -                -            (7,408.30)
Project America Ship I, Inc.                    N/A                    459,787.19         -                -           459,787.19
Great Hawaiian Properties Corporation           01-10971               (22,591.38)        -                -           (22,591.38)
American Hawaii Properties Corporation          01-10976                (1,496.24)        -                -            (1,496.24)
Great Independence Ship Co.                     01-10969                (4,881.60)        -                -            (4,881.60)
                                                                  ----------------------------------------------------------------
                                                                    33,364,757.56         -        73,062.00        33,291,695.56
                                                                  ================================================================




                           Great AQ Steamboat, L.L.C.
                                 01-10960 (JWV)




                           Accounts Receivable Aging
                            As of December 31, 2002







                                  Attachment 7


                                 Not Applicable




                           Great AQ Steamboat, L.L.C.
                                 01-10960 (JWV)




                            Accounts Payable Detail
                            As of December 31, 2002







                                  Attachment 8


                                 Not Applicable





Debtor:  Great AQ Steamboat, L.L.C.                 Case Number:  01-10960 (JWV)

                            Monthly Operating Report
                            As of December 30, 2002
                                      And
                            For the Month Then Ended

                                  Attachment 9
                   Notes to December Monthly Operating Report


The information contained herein is unaudited.

Liabilities included in these financial statements reflect amounts known by the
Company to have been incurred. The Company has listed in prior filings with the
United States Trustee potential additional claims it believes may be asserted
against the Company.

To the best of the Debtor's knowledge and belief, based on currently available
information, all Federal income and payroll taxes due and owing have been paid.


1.       The reduction in liabilities subject to compromise was due to a
         reduction in priority passenger claims. Waivers received by Delaware
         North Companies were reimbursed from escrowed cash held by The Delta
         Queen Steamboat Co., an affiliated Debtor, as provided for in the
         Asset Purchase Agreement dated May 13, 2002.

EX-99.4

                                                                    EXHIBIT 99.4

DEBTOR:  CAPE MAY LIGHT, L.L.C.                     CASE NUMBER:  01-10961 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED




In accordance  with title 28, section 1746, of the United States Code, I declare
under  penalty of perjury that I have  examined the  attached  December  Monthly
Operating  Report  (Attachments  1 through 9) and, to the best of my  knowledge,
these documents are true, correct, and complete.




/s/ EDDIE J. PUSTIZZI
- ---------------------
Eddie J. Pustizzi
Director, Accounting


DEBTOR:  CAPE MAY LIGHT, L.L.C.                     CASE NUMBER:  01-10961 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED


                                        CONTENTS

Attachment 1               Summary of Bank and Investment Accounts

Attachment 2               Schedule of Receipts and Disbursements

Attachment 3               Bank and Investment Account Statements

Attachment 4               Income Statement

Attachment 5               Balance Sheet

Attachment 6               Summary of Due To/Due From Intercompany Accounts

Attachment 7               Accounts Receivable Aging

Attachment 8               Accounts Payable Detail

Attachment 9               Notes to December Monthly Operating Report


                                                                                                   
                                Summary Of Bank,Investment & Petty Cash Accounts                         Attachment 1
                                           Cape May Light, L.L.C.
Summary                                   Case No: 01-10961 (JWV)                                           UNAUDITED
Cape May Light, LLC                     For Month Of December, 2002






                                                 Balances
                                     ---------------------------------        Receipts &            Bank
                                        Opening            Closing            Disbursements         Statements        Account
Account                              As Of 12/01/02     As Of 12/31/02        Included              Included          Reconciled
- -------                              --------------     --------------        -------------         ----------        ----------
                                                                                                       
American Classic Voyages Co.           0.00                 0.00                 No -                  No -             No -
Bank of America                                                                  Account               Account          Account
Account # - 0030 6982 7205                                                       Closed                Closed           Closed

Cape May Light Escrow                  0.00                 0.00                 No -                  No -             No -
US Dept of Transportation                                                        Account               Account          Account
Maritime Administration                                                          Closed                Closed           Closed

American Classic Voyages Co.           0.00                 0.00                 No -                  No -             No -
Bank of America                                                                  Account               Account          Account
Account # - 0041 6103 2379                                                       Closed                Closed           Closed

Cape May Light                         0.00                 0.00                 No -                  No - Not         No -
Petty Cash                                                                       No Activity           A Bank           No Activity
                                                                                                       Account



                                Receipts & Disbursements           Attachment 2
                                 Cape May Light, L.L.C.
Summary                         Case No: 01-10961 (JWV)
Cape May Light, LLC           For Month Of December, 2002
Attach 2


   No Receipts Or Disbursements Due To No Bank Activity Or Investment Accounts



                                                                                    
                        Concentration & Investment Account Statements                     Attachment 3
                                 Cape May Light, L.L.C.
Summary                         Case No: 01-10961 (JWV)
Cape May Light, LLC           For Month Of December, 2002
Attach 3




          No Statements Due To No Concentration Or Investment Accounts


AMCV US SET OF BOOKS                              Date: 16-JAN-03 16:35:08
INCOME STATEMENT - ATTACHMENT 4                   Page:   1
Current Period: DEC-02

currency USD
Company=31 (CAPE MAY LIGHT)

                                                  
                                                       PTD-Actual
                                                       31-Dec-02
                                                    ---------------
Revenue
Gross Revenue                                             0.00
Allowances                                                0.00
                                                    ---------------
Net Revenue                                               0.00

Operating Expenses
Air                                                       0.00
Hotel                                                     0.00
Commissions                                               0.00
Onboard Expenses                                          0.00
Passenger Expenses                                        0.00
Vessel Expenses                                           0.00
Layup/Drydock Expense                                     0.00
Vessel Insurance                                          0.00
                                                    ---------------
Total Operating Expenses                                  0.00

                                                    ---------------
Gross Profit                                              0.00

SG&A Expenses
Sales & Marketing                                         0.00
Start-Up Costs                                            0.00
                                                    ---------------
Total SG&A Expenses                                       0.00

                                                    ---------------
EBITDA                                                    0.00

Depreciation                                              0.00

                                                    ---------------
Operating Income                                          0.00

Other Expense/(Income)
Interest Income                                           0.00
Equity in Earnings for Sub                                0.00
Reorganization expenses                                   0.00
Other expense                                          (310.00)
                                                    ---------------
Total Other Expense/(Income)                           (310.00)

                                                    ---------------
Net Pretax Income/(Loss)                                310.00

Income Tax Expense                                        0.00

                                                    ---------------
Net Income/(Loss)                                       310.00
                                                    ===============





AMCV US SET OF BOOKS                                    Date: 20-JAN-03 12:58:57
BALANCE SHEET - ATTACHMENT 5                                           Page:   1
Current Period: DEC-02

currency USD
Company=31 (CAPE MAY LIGHT)



                                         YTD-Actual                     YTD-Actual
                                         31-Dec-02                      22-Oct-01
                                    -------------------            -------------------
                                                             
ASSETS
Cash and Equivalent                               0.00                      29,003.54

Restricted Cash                                   0.00                     785,839.00

Accounts Receivable                               0.00                      15,651.15

Inventories                                       0.00                     750,424.74

Prepaid Expenses                                  0.00                      71,343.83

Other Current Assets                              0.00                           0.00

                                    -------------------            -------------------
Total Current Assets                              0.00                   1,652,262.26


Fixed Assets                                      0.00                  42,033,338.72

Accumulated Depreciation                          0.00                    (550,825.00)

                                    -------------------            -------------------
Net Fixed Assets                                  0.00                  41,482,513.72


Net Goodwill                                      0.00                           0.00

Intercompany Due To/From                (12,554,507.89)                (12,278,102.19)

Net Deferred Financing Fees                       0.00                   2,559,333.82

Net Investment in Subsidiaries                    0.00                           0.00

                                    -------------------            -------------------
Total Other Assets                      (12,554,507.89)                 (9,718,768.37)

                                    -------------------            -------------------
Total Assets                            (12,554,507.89)                 33,416,007.61
                                    ===================            ===================



AMCV US SET OF BOOKS                                    Date: 20-JAN-03 12:58:57
BALANCE SHEET - ATTACHMENT 5                                          Page:   2
Current Period: DEC-02

currency USD
Company=31 (CAPE MAY LIGHT)



                                        YTD-Actual                     YTD-Actual
                                        31-Dec-02                      22-Oct-01
                                    -------------------            -------------------
                                                             
LIABILITIES

Accounts Payable                                  0.00                      18,286.96

Accrued Liabilities                               0.00                     454,710.16

Deposits                                          0.00                           0.00

                                    -------------------            -------------------
Total Current Liabilities                         0.00                     472,997.12


Long Term Debt                                    0.00                           0.00

Other Long Term Liabilities                       0.00                           0.00

                                    -------------------            -------------------
Total Liabilities                                 0.00                     472,997.12


Liabilities Subject to Compromise        39,112,982.41                  39,937,580.57


OWNER'S EQUITY

Common Stock                                      0.00                           0.00

Add'l Paid In Capital                             0.00                           0.00

Current Net Income (Loss)               (44,577,409.32)                 (2,857,115.19)

Retained Earnings                        (7,090,080.98)                 (4,137,454.89)

                                    -------------------            -------------------
Total Owner's Equity                    (51,667,490.30)                 (6,994,570.08)

                                    -------------------            -------------------
Total Liabilities & Equity              (12,554,507.89)                 33,416,007.61
                                    ===================            ===================



                                                                                     
                                                ATTTACHMENT 6
Cape May Light, LLC                 Summary List of Due To/Due From Accounts               01-10961 (JWV)
                                     For the Month Ended December 31, 2002





                                          CASE                 BEGINNING                                                    ENDING
AFFILIATE NAME                            NUMBER                BALANCE                DEBITS           CREDITS            BALANCE
                                                                                                       
American Classic Voyages Co.              01-10954               656,374.33                --               --           656,374.33
AMCV Cruise Operations, Inc.              01-10967            (8,127,233.11)               --               --        (8,127,233.11)
The Delta Queen Steamboat Co.             01-10970             8,431,118.53                --               --         8,431,118.53
DQSB II, Inc.                             01-10974                   (82.74)               --               --               (82.74)
Great AQ Steamboat, L.L.C.                01-10960             1,640,241.44                --               --         1,640,241.44
Great Pacific NW Cruise Line, L.L.C.      01-10977                (5,380.67)               --               --            (5,380.67)
Great River Cruise Line, L.L.C.           01-10963               (33,543.95)               --               --           (33,543.95)
Great Ocean Cruise Line, L.L.C.           01-10959                (1,844.01)               --               --            (1,844.01)
Cruise America Travel, Incorporated       01-10966            (1,054,561.24)               --               --        (1,054,561.24)
Delta Queen Coastal Voyages, L.L.C.       01-10964               186,615.38                --               --           186,615.38
Cape Cod Light, L.L.C.                    01-10962                (8,675.31)               --               --            (8,675.31)
Project America, Inc.                     N/A                    (57,268.50)               --               --           (57,268.50)
Oceanic Ship Co.                          N/A                     13,839.73                --               --            13,839.73
Project America Ship II, Inc.             N/A                    412,316.64                --               --           412,316.64
Ocean Development Co.                     01-10972           (14,604,239.22)               --               --       (14,604,239.22)
Great Hawaiian Cruise Line, Inc.          01-10975                (8,411.75)               --               --            (8,411.75)
Great Hawaiian Properties Corporation     01-10971                 4,188.00                --               --             4,188.00
CAT II, Inc.                              01-10968                 2,038.56                --               --             2,038.56
                                                       -----------------------------------------------------------------------------
                                                             (12,554,507.89)               --               --       (12,554,507.89)
                                                       =============================================================================



                               Cape May Light, LLC
                                 01-10961 (JWV)




                            Accounts Receivable Aging
                             As of December 31, 2002







                                  Attachment 7


                                 Not Applicable



                               Cape May Light, LLC
                                 01-10961 (JWV)




                             Accounts Payable Detail
                             As of December 31, 2002







                                  Attachment 8


                                 Not Applicable




DEBTOR:  CAPE MAY LIGHT, LLC                        CASE NUMBER:  01-10961 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 30, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

                                  ATTACHMENT 9
                   NOTES TO DECEMBER MONTHLY OPERATING REPORT


The information contained herein is unaudited.

Liabilities  included in these financial statements reflect amounts known by the
Company to have been incurred.  The Company has listed in prior filings with the
United States Trustee  potential  additional  claims it believes may be asserted
against the Company.

To the best of the Debtor's knowledge and belief,  based on currently  available
information, all Federal income and payroll taxes due and owing have been paid.

EX-99.5

Debtor:  Cape Cod Light, L.L.C.                     Case Number:  01-10962 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

In accordance with title 28, section 1746, of the United States Code, I declare
under penalty of perjury that Cape Code Light, LLC was inactive for the above
referenced period and, to the best of my knowledge, the foregoing is true and
correct.

/s/ EDDIE J. PUSTIZZI
- --------------------------
Eddie J. Pustizzi
Director, Accounting

EX-99.6

                                                                    EXHIBIT 99.6


DEBTOR:  GREAT RIVER CRUISE LINE, L.L.C.            CASE NUMBER:  01-10963 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

In accordance with title 28, section 1746, of the United States Code, I declare
under penalty of perjury that I have examined the attached December Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.

/s/ EDDIE J. PUSTIZZI
- -----------------------
Eddie J. Pustizzi
Director, Accounting



DEBTOR:  GREAT RIVER CRUISE LINE, L.L.C.            CASE NUMBER:  01-10963 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED


                                    CONTENTS


Attachment 1               Summary of Bank and Investment Accounts

Attachment 2               Schedule of Receipts and Disbursements

Attachment 3               Bank and Investment Account Statements

Attachment 4               Income Statement

Attachment 5               Balance Sheet

Attachment 6               Summary of Due To/Due From Intercompany Accounts

Attachment 7               Accounts Receivable Aging

Attachment 8               Accounts Payable Detail

Attachment 9               Notes to December Monthly Operating Report


                                                                                            
                                        Summary Of Bank, Investment & Petty Cash Accounts         Attachment 1
                                                 Great River Cruise Line, L.L.C.
Summary                                              Case No: 01-10963 (JWV)                        UNAUDITED
Great River Cruise Line, LLC                       For Month Of December, 2002






                               Balances
                           -------------------------------       Receipts &           Bank
                               Opening          Closing          Disbursements        Statements     Account
Account                    As Of 12/01/02   As Of 12/31/02       Included             Included       Reconciled
- -------                    --------------   --------------       --------             --------       ----------
                                                                                      
Delta Queen Steamer            500.50            0.00            Yes                  No - Not       Yes
Hibernia                                                                              Concentration
Account # - 812-395-270                                                               Account

Delta Queen                      0.00            0.00            No -                 Not A Bank     No
Petty Cash                                                       No Activity          Account




                                   Receipts & Disbursements         Attachment 2
                                Great River Cruise Line, L.L.C.
R&D - Hibernia - DQ Steamer         Case No: 01-10963 (JWV)            UNAUDITED
                                           Hibernia
                                      Delta Queen Steamer
                                    Account # - 812-395-270
                                1 December 02 - 31 December 02

Opening Balance - 1 December 02
                 500.50

Receipts
                -------
                   0.00    Total Receipts

Disbursements

                (500.50)   To Delta Queen Steamboat CO -
                             Hibernia - DQSC Master Cash - Account (812-395-335)





                -------
                (500.50)   Total Disbursements

Closing Balance - 31 December  02
                   0.00


                                                                                                 
                                       Concentration & Investment Account Statements                   Attachment 3
                                               Great River Cruise Line, L.L.C.
Summary                                            Case No: 01-10963 (JWV)
Great River Cruise Line, LLC                     For Month Of December, 2002
Attach 3




          No Statements Due To No Concentration Or Investment Accounts


AMCV US SET OF BOOKS                              Date: 16-JAN-03 16:50:15
INCOME STATEMENT - ATTACHMENT 4                   Page:   1
Current Period: DEC-02

currency USD
Company=22 (DELTA QUEEN)


                                                    PTD-Actual
                                                     31-Dec-02
                                                  ---------------
                                               
Revenue

Gross Revenue                                                0.00
Allowances                                                   0.00
                                                  ---------------
Net Revenue                                                  0.00

Operating Expenses

Air                                                          0.00
Hotel                                                        0.00
Commissions                                                  0.00
Onboard Expenses                                             0.00
Passenger Expenses                                         100.00
Vessel Expenses                                              0.00
Layup/Drydock Expense                                        0.00
Vessel Insurance                                         4,370.90
                                                  ---------------
Total Operating Expenses                                 4,470.90

                                                  ---------------
Gross Profit                                            (4,470.90)

SG&A Expenses

Sales & Marketing                                            0.00
Start-Up Costs                                               0.00
                                                  ---------------
Total SG&A Expenses                                          0.00

                                                  ---------------
EBITDA                                                  (4,470.90)

Depreciation                                                 0.00

                                                  ---------------
Operating Income                                        (4,470.90)

Other Expense/(Income)
Interest Income                                              0.00
Equity in Earnings for Sub                                   0.00
Reorganization expenses                                      0.00
Other expense                                             (792.82)
                                                  ---------------
Total Other Expense/(Income)                              (792.82)

                                                  ---------------
Net Pretax Income/(Loss)                                (3,678.08)

Income Tax Expense                                           0.00

                                                  ---------------
Net Income/(Loss)                                       (3,678.08)
                                                  ===============




AMCV US SET OF BOOKS                                    Date: 20-JAN-03 12:59:02
BALANCE SHEET - ATTACHMENT 5                            Page:   1
Current Period: DEC-02

currency USD
Company=22 (DELTA QUEEN)


                                                   YTD-Actual              YTD-Actual
                                                   31-Dec-02                22-Oct-01
                                                --------------            -------------
                                                                    
ASSETS

Cash and Equivalent                                       0.00                64,522.98

Restricted Cash                                           0.00                     0.00

Accounts Receivable                                       0.00                33,451.42

Inventories                                               0.00               270,331.59

Prepaid Expenses                                          0.00                37,922.40

Other Current Assets                                      0.00                14,555.00
                                              ----------------            -------------
Total Current Assets                                      0.00               420,783.39


Fixed Assets                                              0.00            27,296,694.44

Accumulated Depreciation                                  0.00            15,065,339.51)
                                              ----------------            -------------
Net Fixed Assets                                          0.00            12,231,354.93


Net Goodwill                                              0.00                     0.00

Intercompany Due To/From                         (6,394,138.15)           (9,202,583.95)

Net Deferred Financing Fees                               0.00                     0.00

Net Investment in Subsidiaries                            0.00                     0.00
                                              ----------------            -------------
Total Other Assets                               (6,394,138.15)           (9,202,583.95)
                                              ----------------            -------------
Total Assets                                     (6,394,138.15)            3,449,554.37
                                              ================            =============



AMCV US SET OF BOOKS                                    Date: 20-JAN-03 12:59:02
BALANCE SHEET - ATTACHMENT 5                            Page:   2
Current Period: DEC-02

currency USD
Company=22 (DELTA QUEEN)


                                                 YTD-Actual                     YTD-Actual
                                                  31-Dec-02                      22-Oct-01
                                               ---------------                 --------------
                                                                         
LIABILITIES

Accounts Payable                                          0.00                       5,758.93

Accrued Liabilities                                       0.00                     715,443.75

Deposits                                                  0.00                   2,045,629.83
                                              ----------------            -------------------
Total Current Liabilities                                 0.00                   2,766,832.51

Long Term Debt                                            0.00                           0.00

Other Long Term Liabilities                               0.00                           0.00
                                              ----------------            -------------------
Total Liabilities                                         0.00                   2,766,832.51

Liabilities Subject to Compromise                   530,832.95                     490,370.44

OWNER'S EQUITY

Common Stock                                              0.00                           0.00

Add'l Paid In Capital                             3,701,000.00                   3,701,000.00

Current Net Income (Loss)                        (7,539,992.65)                 (2,206,220.03)

Retained Earnings                                (3,085,978.45)                 (1,302,428.55)

                                              ----------------            -------------------
Total Owner's Equity                             (6,924,971.10)                    192,351.42

                                              ----------------            -------------------
Total Liabilities & Equity                       (6,394,138.15)                  3,449,554.37
                                              ================            ===================



                                                                                                                
Great River Cruise Line, LLC                                   ATTACHMENT 6                                           01-10963 (JWV)
                                                  Summary List of Due To/Due From Accounts
                                                    For the Month Ended December 31, 2002





                                         CASE                BEGINNING                                                ENDING
AFFILIATE NAME                           NUMBER              BALANCE               DEBITS            CREDITS          BALANCE
                                                                                                      
American Classic Voyages Co.             01-10954            (6,704,338.25)                -                -        (6,704,338.25)
AMCV Cruise Operations, Inc.             01-10967            (9,463,658.43)                -                -        (9,463,658.43)
The Delta Queen Steamboat Co.            01-10970            10,520,537.68            500.50        14,268.90        10,506,769.28
DQSB II, Inc.                            01-10974                  (367.05)                -                -              (367.05)
Great AQ Steamboat, L.L.C.               01-10960               168,013.44                 -                -           168,013.44
Great Pacific NW Cruise Line, L.L.C.     01-10977                 4,812.08                 -                -             4,812.08
Great Ocean Cruise Line, L.L.C.          01-10959               503,950.75                 -                -           503,950.75
Cruise America Travel, Incorporated      01-10966            (1,419,142.24)                -                -        (1,419,142.24)
Delta Queen Coastal Voyages, L.L.C.      01-10964                18,978.71                 -                -            18,978.71
Cape Cod Light, L.L.C.                   01-10962                  (270.05)                -                -              (270.05)
Cape May Light, L.L.C.                   01-10961                33,543.95                 -                -            33,543.95
Project America, Inc.                    N/A                    (11,144.65)                -                -           (11,144.65)
Oceanic Ship Co.                         N/A                       (257.75)                -                -              (257.75)
Great Hawaiian Cruise Line, Inc.         01-10975                   (60.73)                -                -               (60.73)
Great Hawaiian Properties Corporation    01-10971               (41,555.00)                -                -           (41,555.00)
American Hawaii Properties Corporation   01-10976                 9,562.38                 -                -             9,562.38
CAT II, Inc.                             01-10968                 1,025.41                 -                -             1,025.41
                                                      ----------------------------------------------------------------------------
                                                             (6,380,369.75)           500.50        14,268.90        (6,394,138.15)
                                                      ============================================================================




                        Great River Cruise Line, L.L.C.
                                 01-10963 (JWV)



                            Accounts Receivable Aging
                             As of December 31, 2002






                                  Attachment 7

                                 Not Applicable



                         Great River Cruise Line, L.L.C.
                                 01-10963 (JWV)



                             Accounts Payable Detail
                             As of December 31, 2002






                                  Attachment 8

                                 Not Applicable



DEBTOR:  GREAT RIVER CRUISE LINE, L.L.C.            CASE NUMBER:  01-10963 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 30, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

                                  ATTACHMENT 9
                   NOTES TO DECEMBER MONTHLY OPERATING REPORT

The information contained herein is unaudited.

Liabilities included in these financial statements reflect amounts known by the
Company to have been incurred. The Company has listed in prior filings with the
United States Trustee potential additional claims it believes may be asserted
against the Company.

To the best of the Debtor's knowledge and belief, based on currently available
information, all Federal income and payroll taxes due and owing have been paid.

1.       The reduction in liabilities subject to compromise was due to a
         reduction in priority passenger claims. Waivers received by Delaware
         North Companies were reimbursed from escrowed cash held by The Delta
         Queen Steamboat Co., an affilated Debtor, as provided for in the Asset
         Purchase Agreement dated May 13, 2002.

EX-99.7

                                                                    EXHIBIT 99.7

DEBTOR:  DELTA QUEEN COASTAL VOYAGES, L.L.C.        CASE NUMBER:  01-10964 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED




 In accordance with title 28, section 1746, of the United States Code, I declare
under penalty of perjury that I have examined the attached December Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.





/s/ EDDIE J. PUSTIZZI
- -------------------------
Eddie J. Pustizzi
Director, Accounting








DEBTOR:  DELTA QUEEN COASTAL VOYAGES, L.L.C.        CASE NUMBER:  01-10964 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

                                    CONTENTS


Attachment 1               Summary of Bank and Investment Accounts

Attachment 2               Schedule of Receipts and Disbursements

Attachment 3               Bank and Investment Account Statements

Attachment 4               Income Statement

Attachment 5               Balance Sheet

Attachment 6               Summary of Due To/Due From Intercompany Accounts

Attachment 7               Accounts Receivable Aging

Attachment 8               Accounts Payable Detail

Attachment 9               Notes to December Monthly Operating Report




                                                                                           
                                     Summary Of Bank And Investment Accounts                     Attachment 1
                                        Delta Queen Coastal Voyages, L.L.C.
Summary                                        Case No: 01-10964 (JWV)                           UNAUDITED
Delta Queen Coastal Voyages, LLC            For Month Of December, 2002





                                                 Balances
                                    ---------------------------------       Receipts &        Bank
                                         Opening           Closing          Disbursements     Statements    Account
Account                             As Of 12/01/02    As Of 12/31/02        Included          Included      Reconciled
- -------                             --------------    --------------        --------          --------      ----------
                                                                                             
No Bank Or Investment                      NA                NA                 NA                NA            NA
Accounts



                                                                                         
                                             Receipts & Disbursements                          Attachment 2
                                         Delta Queen Coastal Voyages, L.L.C.
Summary                                        Case No: 01-10964 (JWV)
Delta Queen Coastal Voyages, LLC            For Month Of December, 2002
Attach 2




       No Receipts Or Disbursements Due To No Bank Or Investment Accounts

                                                                                          
                                          Concentration & Investment Account Statements         Attachment 3
                                              Delta Queen Coastal Voyages, L.L.C.
Summary                                             Case No: 01-10964 (JWV)
Delta Queen Coastal Voyages, LLC                 For Month Of December, 2002
Attach 3




          No Statements Due To No Concentration Or Investment Accounts

AMCV US SET OF BOOKS                                  Date: 16-JAN-03 16:52:22
INCOME STATEMENT - ATTACHMENT 4                       Page:   1
Current Period: DEC-02

currency USD
Company=30 (DELTA QUEEN COAST VOY)




                                              PTD-Actual
                                              31-Dec-02
                                           ---------------
                                        
Revenue
Gross Revenue                                         0.00
Allowances                                            0.00
                                           ---------------
Net Revenue                                           0.00

Operating Expenses
Air                                                   0.00
Hotel                                                 0.00
Commissions                                           0.00
Onboard Expenses                                      0.00
Passenger Expenses                                    0.00
Vessel Expenses                                       0.00
Layup/Drydock Expense                                 0.00
Vessel Insurance                                      0.00
                                           ---------------
Total Operating Expenses                              0.00

                                           ---------------
Gross Profit                                          0.00

SG&A Expenses
Sales & Marketing                                     0.00
Start-Up Costs                                        0.00
                                           ---------------
Total SG&A Expenses                                   0.00

                                           ---------------
EBITDA                                                0.00

Depreciation                                          0.00

                                           ---------------
Operating Income                                      0.00

Other Expense/(Income)
Interest Income                                       0.00
Equity in Earnings for Sub                          306.90
Reorganization expenses                               0.00
                                           ---------------
Total Other Expense/(Income)                       (306.90)

                                           ---------------
Net Pretax Income/(Loss)                            306.90

Income Tax Expense                            2,896,625.10

                                           ---------------
Net Income/(Loss)                            (2,896,318.20)
                                           ===============



AMCV US SET OF BOOKS                                  Date: 20-JAN-03 12:59:00
BALANCE SHEET - ATTACHMENT 5                          Page:   1
Current Period: DEC-02

currency USD
Company=30 (DELTA QUEEN COAST VOY)




                                                YTD-Actual                      YTD-Actual
                                                31-Dec-02                      22-Oct-01
                                             ----------------                ----------------
                                                                       
ASSETS

Cash and Equivalent                                      0.00                            0.00

Restricted Cash                                          0.00                            0.00

Accounts Receivable                                      0.00                            0.00

Inventories                                              0.00                            0.00

Prepaid Expenses                                         0.00                            0.00

Other Current Assets                                     0.00                            0.00

                                             ----------------                ----------------
Total Current Assets                                     0.00                            0.00


Fixed Assets                                             0.00                            0.00

Accumulated Depreciation                                 0.00                            0.00

                                             ----------------                ----------------
Net Fixed Assets                                         0.00                            0.00


Net Goodwill                                             0.00                            0.00

Intercompany Due To/From                          (412,107.06)                    (411,482.06)

Net Deferred Financing Fees                              0.00                            0.00

Net Investment in Subsidiaries                 (95,932,230.58)                 (12,652,491.22)

                                             ----------------                ----------------
Total Other Assets                             (96,344,337.64)                 (13,063,973.28)

                                             ----------------                ----------------
Total Assets                                   (96,344,337.64)                 (13,063,973.28)
                                             ================                ================



AMCV US SET OF BOOKS                                  Date: 20-JAN-03 12:59:00
BALANCE SHEET - ATTACHMENT 5                          Page:   2
Current Period: DEC-02

currency USD
Company=30 (DELTA QUEEN COAST VOY)




                                                          YTD-Actual                     YTD-Actual
                                                          31-Dec-02                       22-Oct-01
                                                      -------------------            -------------------
                                                                               
LIABILITIES

Accounts Payable                                                    0.00                           0.00

Accrued Liabilities                                                 0.00                           0.00

Deposits                                                            0.00                           0.00

                                                      -------------------            -------------------
Total Current Liabilities                                           0.00                           0.00


Long Term Debt                                                      0.00                           0.00

Other Long Term Liabilities                                         0.00                  (2,896,625.10)

                                                      -------------------            -------------------
Total Liabilities                                                   0.00                  (2,896,625.10)


Liabilities Subject to Compromise                                   0.00                           0.00


OWNER'S EQUITY

Common Stock                                                        0.00                           0.00

Add'l Paid In Capital                                               0.00                           0.00

Current Net Income (Loss)                                 (85,482,693.35)                 (6,703,754.04)

Retained Earnings                                         (10,861,644.29)                 (3,463,594.14)

                                                      -------------------            -------------------
Total Owner's Equity                                      (96,344,337.64)                (10,167,348.18)

                                                      -------------------            -------------------
Total Liabilities & Equity                                (96,344,337.64)                (13,063,973.28)
                                                      ===================            ===================


DEBTOR:  DELTA QUEEN COASTAL VOYAGES, LLC           CASE NUMBER:  01-10964 (JWV)


                                  ATTACHMENT 6
                    Summary List of Due To/Due From Accounts
                     For the Month Ended December 31, 2002





                                              CASE              BEGINNING                                                ENDING
AFFILIATE NAME                                NUMBER             BALANCE             DEBITS            CREDITS           BALANCE
                                                                                                       
American Classic Voyages Co.                01-10954          (934,299.38)              --                --          (934,299.38)
AMCV Cruise Operations, Inc.                01-10967           190,721.38               --                --           190,721.38
The Delta Queen Steamboat Co.               01-10970           880,428.81               --                --           880,428.81
Great AQ Steamboat, L.L.C                   01-10960          (144,264.37)              --                --          (144,264.37)
Great Pacific NW Cruise Line, L.L.C         01-10977          (118,887.26)              --                --          (118,887.26)
Great River Cruise Line, L.L.C              01-10963           (18,978.71)              --                --           (18,978.71)
Great Ocean Cruise Line, L.L.C              01-10959           (85,950.95)              --                --           (85,950.95)
Cape Cod Light, L.L.C                       01-10962             5,738.80               --                --             5,738.80
Cape May Light, L.L.C                       01-10961          (186,615.38)              --                --          (186,615.38)
                                                             --------------------------------------------------------------------
                                                              (412,107.06)              --                --          (412,107.06)
                                                             ====================================================================



                        Delta Queen Coastal Voyages, LLC
                                 01-10964 (JWV)




                            Accounts Receivable Aging
                             As of December 31, 2002







                                  Attachment 7


                                 Not Applicable



                        Delta Queen Coastal Voyages, LLC
                                 01-10964 (JWV)




                             Accounts Payable Detail
                             As of December 31, 2002







                                  Attachment 8


                                 Not Applicable




DEBTOR:  DELTA QUEEN COASTAL VOYAGES, LLC           CASE NUMBER:  01-10964 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 30, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

                                  ATTACHMENT 9
                   NOTES TO DECEMBER MONTHLY OPERATING REPORT



The information contained herein is unaudited.

Liabilities included in these financial statements reflect amounts known by the
Company to have been incurred. The Company has listed in prior filings with the
United States Trustee potential additional claims it believes may be asserted
against the Company.

To the best of the Debtor's knowledge and belief, based on currently available
information, all Federal income and payroll taxes due and owing have been paid.


1.       Other long-term liabilities had consisted of deferred tax assets and
         liabilities, net. Deferred tax assets and liabilities had been
         recognized for the expected future tax consequences of temporary
         differences between carrying amounts and the tax basis of assets and
         liabilities. The Debtor adjusted the recorded amounts to zero based
         upon the expected outcome of Chapter 11 proceedings.

EX-99.8

                                                                    EXHIBIT 99.8

DEBTOR: DQSC PROPERTY CO.                            CASE NUMBER: 01-10965 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

In accordance with title 28, section 1746, of the United States Code, I declare
under penalty of perjury that DQSC Property Co. was inactive for the above
referenced period and, to the best of my knowledge, the foregoing is true and
correct.



/s/ EDDIE J. PUSTIZZI
- -------------------------
Eddie J. Pustizzi
Director, Accounting

EX-99.9

                                                                    EXHIBIT 99.9

DEBTOR: CRUISE AMERICA TRAVEL, INCORPORATED        CASE NUMBER:  01-10966 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

In accordance with title 28, section 1746, of the United States Code, I declare
under penalty of perjury that I have examined the attached December Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.



/s/ EDDIE J. PUSTIZZI
- --------------------------
Eddie J. Pustizzi
Director, Accounting




DEBTOR: CRUISE AMERICA TRAVEL, INCORPORATED        CASE NUMBER:  01-10966 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

                                    CONTENTS

Attachment 1                   Summary of Bank and Investment Accounts

Attachment 2                   Schedule of Receipts and Disbursements

Attachment 3                   Bank and Investment Account Statements

Attachment 4                   Income Statement

Attachment 5                   Balance Sheet

Attachment 6                   Summary of Due To/Due From Intercompany Accounts

Attachment 7                   Accounts Receivable Aging

Attachment 8                   Accounts Payable Detail

Attachment 9                   Notes to December Monthly Operating Report




                                                                                                                 
                                                       Summary Of Bank And Investment Accounts                         Attachment 1
                                                        Cruise America Travel, Incorporated
                                                               Case No: 01-10966 (JWV)                                    UNAUDITED
Summary                                                      For Month Of December, 2002
Cruise America Travel, Incorporated





                                        Balances
                           ---------------------------------         Receipts &           Bank
                              Opening            Closing             Disbursements        Statements       Account
Account                    As Of 12/01/02     As Of 12/31/02         Included             Included         Reconciled
- -------                    --------------     --------------         -------------        ----------       ----------
                                                                                            
No Bank Or Investment           NA                  NA                   NA                  NA               NA
Accounts





                                                                                                                 
                                                                Receipts & Disbursements                               Attachment 2
                                                           Cruise America Travel, Incorporated
Summary                                                         Case No: 01-10966 (JWV)
Cruise America Travel, Incorporated                            For Month Of December, 2002
Attach 2



       No Receipts Or Disbursements Due To No Bank Or Investment Accounts




                                                                                                                 
                                                    Concentration & Investment Account Statements                      Attachment 3
                                                         Cruise America Travel, Incorporated
Summary                                                       Case No: 01-10966 (JWV)
Cruise America Travel, Incorporated                          For Month Of December, 2002
Attach 3




          No Statements Due To No Concentration Or Investment Accounts




AMCV US SET OF BOOKS                                   Date: 16-JAN-03 16:50:20
INCOME STATEMENT - ATTACHMENT 4                        Page:   1
Current Period: DEC-02

currency USD
Company=29 (CAT - DQSC)



                                                          PTD-Actual
                                                           31-Dec-02
                                                       --------------
                                                    
Revenue
Gross Revenue                                                    0.00
Allowances                                                       0.00
                                                       --------------
Net Revenue                                                      0.00

Operating Expenses
Air                                                              0.00
Hotel                                                            0.00
Commissions                                                      0.00
Onboard Expenses                                                 0.00
Passenger Expenses                                               0.00
Vessel Expenses                                                  0.00
Layup/Drydock Expense                                            0.00
Vessel Insurance                                                 0.00
                                                       --------------
Total Operating Expenses                                         0.00

                                                       --------------
Gross Profit                                                     0.00

SG&A Expenses
Sales & Marketing                                                0.00
Start-Up Costs                                                   0.00
                                                       --------------
Total SG&A Expenses                                              0.00

                                                       --------------
EBITDA                                                           0.00

Depreciation                                                     0.00

                                                       --------------
Operating Income                                                 0.00

Other Expense/(Income)
Interest Income                                                  0.00
Equity in Earnings for Sub                                       0.00
Reorganization expenses                                          0.00
                                                       --------------
Total Other Expense/(Income)                                     0.00

                                                       --------------
Net Pretax Income/(Loss)                                         0.00

Income Tax Expense                                       1,591,053.16)

                                                       --------------
Net Income/(Loss)                                        1,591,053.16
                                                       ==============





AMCV US SET OF BOOKS                                   Date: 20-JAN-03 12:59:07
BALANCE SHEET - ATTACHMENT 5                           Page:   1
Current Period: DEC-02

currency USD
Company=29 (CAT - DQSC)



                                                     YTD-Actual                     YTD-Actual
                                                     31-Dec-02                       22-Oct-01
                                                 --------------                   ------------
                                                                            
ASSETS

Cash and Equivalent                                        0.00                           0.00

Restricted Cash                                            0.00                           0.00

Accounts Receivable                                        0.00                      19,582.06

Inventories                                                0.00                           0.00

Prepaid Expenses                                           0.00                     565,863.67

Other Current Assets                                       0.00                           0.00

                                                 ---------------                ---------------
Total Current Assets                                       0.00                     585,445.73


Fixed Assets                                               0.00                           0.00

Accumulated Depreciation                                   0.00                           0.00

                                                 ---------------                ---------------
Net Fixed Assets                                           0.00                           0.00


Net Goodwill                                               0.00                           0.00

Intercompany Due To/From                           5,172,702.34                   4,474,118.72

Net Deferred Financing Fees                                0.00                           0.00

Net Investment in Subsidiaries                             0.00                           0.00

                                                 ---------------                ---------------
Total Other Assets                                 5,172,702.34                   4,474,118.72

                                                 ---------------                ---------------
Total Assets                                       5,172,702.34                   5,059,564.45
                                                 ===============                ===============





AMCV US SET OF BOOKS                                   Date: 20-JAN-03 12:59:07
BALANCE SHEET - ATTACHMENT 5                           Page:   2
Current Period: DEC-02

currency USD
Company=29 (CAT - DQSC)



                                                         YTD-Actual                   YTD-Actual
                                                         31-Dec-02                    22-Oct-01
                                                      --------------                 ------------
                                                                               
LIABILITIES

Accounts Payable                                                0.00                         0.00

Accrued Liabilities                                             0.00                         0.00

Deposits                                                        0.00                         0.00

                                                      ---------------              ---------------
Total Current Liabilities                                       0.00                         0.00


Long Term Debt                                                  0.00                         0.00

Other Long Term Liabilities                                     0.00                 1,591,053.16

                                                      ---------------              ---------------
Total Liabilities                                               0.00                 1,591,053.16


Liabilities Subject to Compromise                               0.00                     5,731.15


OWNER'S EQUITY

Common Stock                                                    0.00                         0.00

Add'l Paid In Capital                                      50,000.00                    50,000.00

Current Net Income (Loss)                               1,581,661.84                   591,526.60

Retained Earnings                                       3,541,040.50                 2,821,253.54

                                                      ---------------              ---------------
Total Owner's Equity                                    5,172,702.34                 3,462,780.14

                                                      ---------------              ---------------
Total Liabilities & Equity                              5,172,702.34                 5,059,564.45
                                                      ===============              ===============





                                                                                                               
Crusie America Travel, Incorporated                                 ATTACHMENT 6                                     01-10966 (JWW)
                                                      Summary List of Due to/Due From Accounts
                                                       For the Month Ended December 31, 2002





                                             CASE              BEGINNING                                                 ENDING
AFFILIATE NAME                              NUMBER              BALANCE             DEBITS            CREDITS           BALANCE
                                                                                                     
American Classic Voyages Co.               01-10954            (103,377.71)               --              --          (103,377.71)
AMCV Cruise Operations, Inc.               01-10967          (4,057,165.15)               --              --        (4,057,165.15)
The Delta Queen Steamboat Co.              01-10970            (256,503.82)       256,291.69              --              (212.13)
Great AQ Steamboat, L.L.C.                 01-10960           3,165,198.27                --              --         3,165,198.27
Great Pacific NW Cruise Line, L.L.C.       01-10977             674,733.24                --              --           674,733.24
Great River Cruise Line, L.L.C.            01-10963           1,419,142.24                --              --         1,419,142.24
Great Ocean Cruise Line, L.L.C.            01-10959           2,953,907.27                --              --         2,953,907.27
Cape Cod Light, L.L.C.                     01-10962               2,706.08                --              --             2,706.08
Cape May Light, L.L.C.                     01-10961           1,054,561.24                --              --         1,054,561.24
Oceanic Ship Co.                           N/A                    6,631.08                --              --             6,631.08
Ocean Development Co.                      01-10972              15,996.19                --              --            15,996.19
American Hawaii Properties Corporation     01-10976               1,126.92                --              --             1,126.92
Great Independence Ship Co.                01-10969              16,321.27                --              --            16,321.27
CAT II, Inc.                               01-10968              23,133.53                --              --            23,133.53
                                                          ------------------------------------------------------------------------
                                                              4,916,410.65        256,291.69              --         5,172,702.34
                                                          ========================================================================





                       Cruise America Travel, Incorporated
                                 01-10966 (JWV)




                            Accounts Receivable Aging
                             As of December 31, 2002







                                  Attachment 7


                                 Not Applicable




                       Cruise America Travel, Incorporated
                                 01-10966 (JWV)




                             Accounts Payable Detail
                             As of December 31, 2002







                                  Attachment 8


                                 Not Applicable




DEBTOR:  CRUISE AMERICA TRAVEL, INCORPORATED       CASE NUMBER:  01-10966 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 30, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

                                  ATTACHMENT 9
                   NOTES TO DECEMBER MONTHLY OPERATING REPORT

The information contained herein is unaudited.

Liabilities included in these financial statements reflect amounts known by the
Company to have been incurred. The Company has listed in prior filings with the
United States Trustee potential additional claims it believes may be asserted
against the Company.

To the best of the Debtor's knowledge and belief, based on currently available
information, all Federal income and payroll taxes due and owing have been paid.

1.       Other long-term liabilities had consisted of deferred tax assets and
         liabilities, net. Deferred tax assets and liabilities had been
         recognized for the expected future tax consequences of temporary
         differences between carrying amounts and the tax basis of assets and
         liabilities. The Debtor adjusted the recorded amounts to zero based
         upon the expected outcome of Chapter 11 proceedings.

2.       The Debtor reclassed unused, pre-petition pre-paid airline tickets to
         offset related claims filed against AMCV Cruise Operations, an
         affiliated Debtor.

EX-99.10

                                                                   EXHIBIT 99.10

DEBTOR:  AMCV CRUISE OPERATIONS, INC.               CASE NUMBER:  01-10967 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

In accordance with title 28, section 1746, of the United States Code, I declare
under penalty of perjury that I have examined the attached December Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.



/s/ EDDIE J. PUSTIZZI
- ----------------------
Eddie J. Pustizzi
Director, Accounting



Debtor:  AMCV Cruise Operations, Inc.               Case Number:  01-10967 (JWV)

                            Monthly Operating Report
                             As of December 31, 2002
                                       And
                            For the Month Then Ended


                                    CONTENTS

Attachment 1               Summary of Bank and Investment Accounts

Attachment 2               Schedule of Receipts and Disbursements

Attachment 3               Bank and Investment Account Statements

Attachment 4               Income Statement

Attachment 5               Balance Sheet

Attachment 6               Summary of Due To/Due From Intercompany Accounts

Attachment 7               Accounts Receivable Aging

Attachment 8               Accounts Payable Detail

Attachment 9               Notes to December Monthly Operating Report



                                                                                             
                                      Summary Of Bank,Investment & Petty Cash Accounts             Attachment 1
                                                AMCV Cruise Operations, Inc.
Summary                                          Case No: 01-10967 (JWV)                              UNAUDITED
AMCV Cruise Operations, Inc                    For Month Of December, 2002






                                            Balances
                                ------------------------------    Receipts &         Bank
                                     Opening        Closing       Disbursements      Statements      Account
Account                         As Of 12/01/02  As Of 12/31/02    Included           Included        Reconciled
- -------                         --------------  --------------    --------           --------        ----------
                                                                                      
AHC - Certificate Of Deposit *      25,000.00           0.00      Yes                No - Not        Yes
Bank One                                                                             Concentration
Account # - 880058451981                                                             Account

AHC - Certificate Of Deposit *      25,000.00           0.00      Yes                No - Not        Yes
Bank One                                                                             Concentration
Account # - 880058452369                                                             Account

AMCV Cruise Ops                     99,358.59     270,542.27      Yes                Yes             Yes
Master Cash
First Union National Bank
Account # - 2090002602362

AMCV Escrow - Gohagan                    0.00           0.00      No -               No - Not        No -
LaSalle Bank                                                      Account            Concentration   Account
Account # - 62-8766-40-4                                          closed             Account         closed

American Classic Voyages                 0.00           0.00      No -               No -            No -
Fleet Bank                                                        Account            Account         Account
Account # - 941-9148945                                           closed             closed          closed

Weston Office                          353.45         278.45      Yes                Not A Bank      Yes
Petty Cash                                                                           Account


  * Proceeds From Matured Certficates Of Deposit Were Recovered By Bank One As
    Collateral For Letters Of Credits That Were Exercised After The Filing For
    Bankruptcy.



                                                                                                         
                                                  Receipts & Disbursements                                     Attachment 2-1
                                                AMCV Cruise Operations, Inc.
R&D - Bank One - AHC CD (86)                      Case No: 01-10967 (JWV)                                           UNAUDITED
                                                           Bank One
                                                 AHC Certificate Of Deposit
                                                  Account # - 880058451981
                                              1 December 02 - 31 December 02



Opening Balance - 1 December 02
                                  25,000.00


Receipts





                                 ----------
                                       0.00       Total Receipts


Disbursements
                                 (25,000.00)      Recovered by Bank One as
                                                   collateral for exercised LOC



                                 ----------
                                 (25,000.00)      Total Disbursements



Closing Balance - 31 December  02
                                       0.00



                                                                                                         
                                                  Receipts & Disbursements                                     Attachment 2-2
                                                AMCV Cruise Operations, Inc.
R&D - Bank One - AHC CD (87)                      Case No: 01-10967 (JWV)                                           UNAUDITED
                                                           Bank One
                                                 AHC Certificate Of Deposit
                                                  Account # - 880058451981
                                              1 December 02 - 31 December 02



Opening Balance - 1 December 02
                                  25,000.00


Receipts





                                 ----------
                                       0.00       Total Receipts


Disbursements
                                 (25,000.00)      Recovered by Bank One as
                                                   collateral for exercised LOC



                                 ----------
                                 (25,000.00)      Total Disbursements



Closing Balance - 31 December  02
                                       0.00



                                                                                                        
                                                   Receipts & Disbursements                                   Attachment 2-3
                                                 AMCV Cruise Operations, Inc.
R&D - First Union                                  Case No: 01-10967 (JWV)                                         UNAUDITED
AMCV Cruise Ops Master Cash                             First Union
                                                 AMCV Cruise Ops Master Cash
                                                  Account # - 2090002602362
                                               1 December 02 - 31 December 02



Opening Balance - 1 December 02
                             99,358.59


Receipts


                            123,630.00             Refund of unexpired vessel
                                                     insurance premiums
                             47,553.68             Refund of 1996-1998 Lousiana
                                                     State Unemployment Tax

                            ----------
                            171,183.68             Total Receipts


Disbursements




                                  0.00             Bank Fees
                            ----------
                                  0.00             Total Disbursements



Closing Balance - 31 December  02
                            270,542.27



                            Receipts & Disbursements             Attachment 2-4
                          AMCV Cruise Operations, Inc.
                             Case No: 01-10967 (JWV)                  UNAUDITED
Petty Cash                       Weston Office
                                   Petty Cash
                                 Account # - NA
                         1 December 02 - 31 December 02

Opening Balance - 1 December 02
                          353.45


Receipts



                            0.00     Deposit




                          ------
                            0.00     Total Receipts


Disbursements


                          (75.00)    Cleaning Services
                                     Office Supplies (Toner, Year end tax forms)
                                      Sundries
                                      Miscellaneous Supplies


                          ------
                          (75.00)    Total Disbursements



Closing Balance - 31 December  02
                          278.45




AMCV US SET OF BOOKS                              Date: 17-JAN-03 10:31:54
INCOME STATEMENT - ATTACHMENT 4                   Page:   1
Current Period: DEC-02

currency USD
Company=15 (AMCV OPS)
                                                         PTD-Actual
                                                          31-Dec-02
                                                    ---------------
Revenue
Gross Revenue                                                  0.00
Allowances                                                     0.00
                                                  -----------------
Net Revenue                                                    0.00

Operating Expenses
Air                                                            0.00
Hotel                                                          0.00
Commissions                                                    0.00
Onboard Expenses                                               0.00
Passenger Expenses                                             0.00
Vessel Expenses                                                0.00
Layup/Drydock Expense                                          0.00
Vessel Insurance                                               0.00
                                                  -----------------
Total Operating Expenses                                       0.00

                                                  -----------------
Gross Profit                                                   0.00

SG&A Expenses
General and Admin Expenses                                (2,759.57)
Sales & Marketing                                              0.00
Start-Up Costs                                                 0.00
                                                  -----------------
Total SG&A Expenses                                       (2,759.57)

                                                  -----------------
EBITDA                                                     2,759.57

Depreciation                                                   0.00

                                                  -----------------
Operating Income                                           2,759.57

Other Expense/(Income)
Interest Income                                                0.00
Equity in Earnings for Sub                            (9,610,722.67)
Reorganization expenses                                        0.00
Other expense                                            (22,454.01)
                                                  -----------------
Total Other Expense/(Income)                           9,588,268.66

                                                  -----------------
Net Pretax Income/(Loss)                              (9,585,509.09)

Income Tax Expense                                             0.00

                                                  -----------------
Net Income/(Loss)                                     (9,585,509.09)
                                                  =================



AMCV US SET OF BOOKS                                   Date: 20-JAN-03 12:59:10
BALANCE SHEET - ATTACHMENT 5                           Page:   1
Current Period: DEC-02

currency USD
Company=15 (AMCV OPS)



                                                    YTD-Actual                      YTD-Actual
                                                     31-Dec-02                      22-Oct-01
                                                  ---------------                  ------------
                                                                             
ASSETS

Cash and Equivalent                                    142,339.56                   1,723,947.86

Restricted Cash                                        450,000.00                     219,000.00

Marketable Securities                                        0.00                      50,000.00

Accounts Receivable                                          0.00                      99,684.62

Inventories                                                  0.00                           0.00

Prepaid Expenses                                       205,784.54                     522,662.13

Other Current Assets                                     3,600.00                       1,750.00

                                                  ---------------                  --------------
Total Current Assets                                   801,724.10                   2,617,044.61


Fixed Assets                                                 0.00                   9,371,627.23

Accumulated Depreciation                                     0.00                    (453,764.30)

                                                  ---------------                  --------------
Net Fixed Assets                                             0.00                   8,917,862.93


Net Goodwill                                                 0.00                           0.00

Intercompany Due To/From                            (7,474,497.53)                  2,150,807.43

Net Deferred Financing Fees                                  0.00                           0.00

Net Investment in Subsidiaries                    (531,371,105.37)                 66,329,274.35

                                                  ---------------                  --------------
Total Other Assets                                (538,845,602.90)                 68,480,081.78

                                                  ---------------                  --------------
Total Assets                                      (538,043,878.80)                 80,014,989.32
                                                  ===============                  ==============




AMCV US SET OF BOOKS                                   Date: 20-JAN-03 12:59:10
BALANCE SHEET - ATTACHMENT 5                           Page:   2
Current Period: DEC-02

currency USD
Company=15 (AMCV OPS)


                                                    YTD-Actual                      YTD-Actual
                                                     31-Dec-02                      22-Oct-01
                                                  ---------------                  -------------
                                                                             
LIABILITIES

Accounts Payable                                             0.00                       5,363.60

Accrued Liabilities                                     16,495.42                     289,488.87

Deposits                                                     0.00                           0.00

                                                  ---------------                  -------------
Total Current Liabilities                               16,495.42                     294,852.47


Long Term Debt                                               0.00                           0.00

Other Long Term Liabilities                                  0.00                           0.00

                                                  ---------------                  -------------
Total Liabilities                                       16,495.42                     294,852.47


Liabilities Subject to Compromise                   27,147,484.48                  32,307,000.02


OWNER'S EQUITY

Common Stock                                            10,440.25                      10,440.25

Add'l Paid In Capital                              112,772,392.56                 112,772,392.56

Current Net Income (Loss)                         (610,229,557.94)                (37,037,717.81)

Retained Earnings                                  (67,761,133.57)                (28,331,978.17)

                                                  ---------------                  -------------
Total Owner's Equity                              (565,207,858.70)                 47,413,136.83

                                                  ---------------                  -------------
Total Liabilities & Equity                        (538,043,878.80)                 80,014,989.32
                                                  ===============                  =============




                                                                                                      
AMCV Cruise Operations                                         ATTACHMENT 6                                 01-10967 (JWV)
                                             Summary List of Due To/Due From Accounts
                                              For the Months Ended December 31, 2002





                                         CASE                  BEGINNING                                                 ENDING
AFFILIATE NAME                           NUMBER                 BALANCE             DEBITS           CREDITS            BALANCE
                                                                                                    
American Classic Voyages Co.             01-10954           (81,720,746.28)       642,560.85        32,230.15       (81,110,415.58)
AMCV Holdings, Inc.                      01-10973              (201,071.08)                -     2,105,887.05        (2,306,958.13)
The Delta Queen Steamboat Co.            01-10970          (103,162,515.12)        51,960.74       956,088.37      (104,066,642.75)
DQSB II, Inc.                            01-10974                 2,330.40                 -                -             2,330.40
Great AQ Steamboat, L.L.C.               01-10960            22,866,931.85                 -                -        22,866,931.85
Great Pacific NW Cruise Line, L.L.C.     01-10977             9,434,276.58                                  -         9,434,276.58
Great River Cruise Line, L.L.C.          01-10963             9,463,658.43                                  -         9,463,658.43
Great Ocean Cruise Line, L.L.C.          01-10959            22,093,131.96                 -                -        22,093,131.96
Cruise America Travel, Incorporated      01-10966             4,057,165.15                 -                -         4,057,165.15
Delta Queen Coastal Voyages, L.L.C.      01-10964              (190,721.38)                -                -          (190,721.38)
Cape Cod Light, L.L.C.                   01-10962             3,950,183.20                 -                -         3,950,183.20
Cape May Light, L.L.C.                   01-10961             8,127,233.11                 -                -         8,127,233.11
Project America, Inc.                    N/A                 (4,501,177.23)                -                -        (4,501,177.23)
Oceanic Ship Co.                         N/A                 57,690,858.86                 -                -        57,690,858.86
Project America Ship I, Inc.             N/A                    111,968.41                 -                -           111,968.41
Ocean Development Co.                    01-10972             1,559,238.61                 -                -         1,559,238.61
Great Hawaiian Cruise Line, Inc.         01-10975               (22,292.97)                -                -           (22,292.97)
Great Hawaiian Properties Corporation    01-10971            (6,116,875.06)                -                -        (6,116,875.06)
American Hawaii Properties Corporation   01-10976             5,188,990.02                 -                -         5,188,990.02
Great Independence Ship Co.              01-10969            36,656,636.93                 -                -        36,656,636.93
CAT II, Inc.                             01-10968             9,637,982.06                 -                -         9,637,982.06
                                                           ------------------------------------------------------------------------
                                                             (5,074,813.55)       694,521.59     3,094,205.57        (7,474,497.53)
                                                           ========================================================================




                          AMCV Cruise Operations, Inc.
                                 01-10967 (JWV)




                            Accounts Receivable Aging
                             As of December 31, 2002







                                  Attachment 7


                                 Not Applicable



                          AMCV Cruise Operations, Inc.
                                 01-10967 (JWV)




                             Accounts Payable Detail
                             As of December 31, 2002







                                  Attachment 8


                                 Not Applicable




DEBTOR:  AMCV CRUISE OPERATIONS, INC.               CASE NUMBER:  01-10967 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 30, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

                                  ATTACHMENT 9
                   NOTES TO DECEMBER MONTHLY OPERATING REPORT

The information contained herein is unaudited.

Liabilities included in these financial statements reflect amounts known by the
Company to have been incurred. The Company has listed in prior filings with the
United States Trustee potential additional claims it believes may be asserted
against the Company.

To the best of the Debtor's knowledge and belief, based on currently available
information, all Federal income and payroll taxes due and owing have been paid.

1.       During August, the Debtor funded three escrow accounts each in the
         amount of $150,000. Each escrow account was required for a pending P&I
         insurance claim. The Debtor cannot currently determine how much, if
         any, the ultimate settlement will be for each claim.

2.       Outstanding accounts payable, comprised mainly of liabilities for
         property taxes with pre-petition valuation dates, were reclassed to
         liabilities subject to compromise.

3.       During December, the $50,000 of marketable securities previously
         recorded by the Debtor and held as collateral by a third party against
         LOCs, were relinquished to the holder of the securities as settlement
         for the previously called LOCs.

4.       The Debtor offset unused, pre-petition pre-paid airline tickets against
         liabilities subject to compromise. The tickets had been recorded by
         affiliated Debtors, Cruise America Travel, Incorporated and CAT II,
         Inc.

EX-99.11

                                                                   EXHIBIT 99.11

DEBTOR:  CAT II, INC.                               CASE NUMBER:  01-10968 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED



In accordance with title 28, section 1746, of the United States Code, I declare
under penalty of perjury that I have examined the attached December Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.





/s/ EDDIE J. PUSTIZZI
- ----------------------
Eddie J. Pustizzi
Director, Accounting




Debtor:  CAT II, Inc.                               Case Number:  01-10968 (JWV)

                            Monthly Operating Report
                             As of December 31, 2002
                                       And
                            For the Month Then Ended


                                    CONTENTS

Attachment 1               Summary of Bank and Investment Accounts

Attachment 2               Schedule of Receipts and Disbursements

Attachment 3               Bank and Investment Account Statements

Attachment 4               Income Statement

Attachment 5               Balance Sheet

Attachment 6               Summary of Due To/Due From Intercompany Accounts

Attachment 7               Accounts Receivable Aging

Attachment 8               Accounts Payable Detail

Attachment 9               Notes to December Monthly Operating Report



                                                                      
                     Summary Of Bank And Investment Accounts                Attachment 1
                                  CAT II, Inc.
Summary                      Case No: 01-10968 (JWV)                           UNAUDITED
CAT II, Inc.              For Month Of December, 2002







                                           Balances
                               -------------------------------        Receipts &       Bank
                                   Opening           Closing          Disbursements    Statements   Account
Account                        As Of 12/01/02   As Of 12/31/02        Included         Included     Reconciled
- -------                        --------------   --------------        --------         --------     ----------
                                                                                     
No Bank Or Investment                 NA               NA                 NA               NA           NA
Accounts




                           Receipts & Disbursements                Attachment 2
                                CAT II, Inc.
Summary                     Case No: 01-10968 (JWV)
CAT II, Inc.             For Month Of December, 2002
Attach 2

       No Receipts Or Disbursements Due To No Bank Or Investment Accounts



                 Concentration & Investment Account Statements      Attachment 3
                                  CAT II, Inc.
Summary                     Case No: 01-10968 (JWV)
CAT II, Inc.              For Month Of December, 2002
Attach 3

          No Statements Due To No Concentration Or Investment Accounts



AMCV US SET OF BOOKS                              Date: 16-JAN-03 15:26:35
INCOME STATEMENT - ATTACHMENT 4                   Page:   1
Current Period: DEC-02

currency USD
Company=59 (CAT - AHC)
                                                     PTD-Actual
                                                      31-Dec-02
                                                   ---------------
Revenue
Gross Revenue                                                  0.00
Allowances                                                     0.00
                                                  ------------------
Net Revenue                                                    0.00

Operating Expenses
Air                                                            0.00
Hotel                                                          0.00
Commissions                                                    0.00
Onboard Expenses                                               0.00
Passenger Expenses                                             0.00
Vessel Expenses                                                0.00
Layup/Drydock Expense                                          0.00
Vessel Insurance                                               0.00
                                                  ------------------
Total Operating Expenses                                       0.00

                                                  ------------------
Gross Profit                                                   0.00

SG&A Expenses
Sales & Marketing                                              0.00
Start-Up Costs                                                 0.00
                                                  ------------------
Total SG&A Expenses                                            0.00

                                                  ------------------
EBITDA                                                         0.00

Depreciation                                                   0.00

                                                  ------------------
Operating Income                                               0.00

Other Expense/(Income)
Interest Income                                                0.00
Equity in Earnings for Sub                                     0.00
Reorganization expenses                                        0.00
                                                  ------------------
Total Other Expense/(Income)                                   0.00

                                                  ------------------
Net Pretax Income/(Loss)                                       0.00

Income Tax Expense                                      (917,296.83)

                                                  ------------------
Net Income/(Loss)                                        917,296.83
                                                  ==================



AMCV US SET OF BOOKS                                    Date: 20-JAN-03 12:59:10
BALANCE SHEET - ATTACHMENT 5                            Page:   1
Current Period: DEC-02

currency USD
Company=59 (CAT - AHC)




                                                YTD-Actual                    YTD-Actual
                                                 31-Dec-02                     22-Oct-01
                                              ---------------             ----------------
                                                                    
ASSETS

Cash and Equivalent                                      0.00                         0.00

Restricted Cash                                          0.00                         0.00

Accounts Receivable                                      0.00                   256,467.70

Inventories                                              0.00                         0.00

Prepaid Expenses                                         0.00                 1,904,155.44

Other Current Assets                                     0.00                         0.00

                                              ----------------            -----------------
Total Current Assets                                     0.00                 2,160,623.14


Fixed Assets                                             0.00                         0.00

Accumulated Depreciation                                 0.00                         0.00

                                              ----------------            -----------------
Net Fixed Assets                                         0.00                         0.00


Net Goodwill                                             0.00                         0.00

Intercompany Due To/From                         4,177,688.04                 1,958,103.81

Net Deferred Financing Fees                              0.00                         0.00

Net Investment in Subsidiaries                           0.00                         0.00

                                              ----------------            -----------------
Total Other Assets                               4,177,688.04                 1,958,103.81

                                              ----------------            -----------------
Total Assets                                     4,177,688.04                 4,118,726.95
                                              ================            =================




AMCV US SET OF BOOKS                                    Date: 20-JAN-03 12:59:10
BALANCE SHEET - ATTACHMENT 5                            Page:   1
Current Period: DEC-02

currency USD
Company=59 (CAT - AHC)




                                                YTD-Actual                    YTD-Actual
                                                 31-Dec-02                     22-Oct-01
                                              ---------------             ----------------
                                                                    
LIABILITIES

Accounts Payable                                         0.00                         0.00

Accrued Liabilities                                      0.00                         0.00

Deposits                                                 0.00                         0.00

                                              ----------------            -----------------
Total Current Liabilities                                0.00                         0.00


Long Term Debt                                           0.00                         0.00

Other Long Term Liabilities                              0.00                   939,123.43

                                              ----------------            -----------------
Total Liabilities                                        0.00                   939,123.43


Liabilities Subject to Compromise                        0.00                         0.00


OWNER'S EQUITY

Common Stock                                            10.00                        10.00

Add'l Paid In Capital                            2,919,930.15                 2,919,930.15

Current Net Income (Loss)                          917,296.83                  (735,590.03)

Retained Earnings                                  340,451.06                   995,253.40

                                              ----------------            -----------------
Total Owner's Equity                             4,177,688.04                 3,179,603.52

                                              ----------------            -----------------
Total Liabilities & Equity                       4,177,688.04                 4,118,726.95
                                              ================            =================



                                                                                                      
CAT II, Inc.                                                   ATTACHMENT 6                                 01-10968 (JWV)
                                             Summary List of Due To/Due From Accounts
                                              For the Months Ended December 31, 2002





                                               CASE               BEGINNING                                              ENDING
AFFILIATE NAME                                 NUMBER              BALANCE                DEBITS      CREDITS            BALANCE
                                                                                                    
American Classic Voyages Co.                   01-10954         (15,959,416.62)                -           -       (15,959,416.62)
AMCV Cruise Operations, Inc.                   01-10967          (9,637,982.06)                -           -        (9,637,982.06)
The Delta Queen Steamboat Co.                  01-10970                 100.00                 -           -               100.00
Great River Cruise Line, L.L.C.                01-10963              (1,025.41)                -           -            (1,025.41)
Cruise America Travel, Incorporated            01-10966             (23,133.53)                -           -           (23,133.53)
Cape May Light, L.L.C.                         01-10961              (2,038.56)                -           -            (2,038.56)
Project America, Inc.                          N/A                   (1,925.90)                -           -            (1,925.90)
Oceanic Ship Co.                               N/A               15,529,527.96                 -           -        15,529,527.96
Ocean Development Co.                          01-10972             362,391.82                 -           -           362,391.82
Great Hawaiian Cruise Line, Inc.               01-10975                      -      2,105,887.05           -         2,105,887.05
Great Hawaiian Properties Corporation          01-10971                (570.94)                -           -              (570.94)
American Hawaii Properties Corporation         01-10976               3,675.11                 -           -             3,675.11
Great Independence Ship Co.                    01-10969          11,802,199.12                 -           -        11,802,199.12
                                                                ------------------------------------------------------------------
                                                                  2,071,800.99      2,105,887.05           -         4,177,688.04
                                                                ==================================================================




                                  CAT II, Inc.
                                 01-10968 (JWV)




                            Accounts Receivable Aging
                             As of December 31, 2002







                                  Attachment 7


                                 Not Applicable



                                  CAT II, Inc.
                                 01-10968 (JWV)




                             Accounts Payable Detail
                             As of December 31, 2002







                                  Attachment 8


                                 Not Applicable




DEBTOR:  CAT II, INC.                               CASE NUMBER:  01-10968 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 30, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

                                  ATTACHMENT 9
                   NOTES TO DECEMBER MONTHLY OPERATING REPORT


The information contained herein is unaudited.

Liabilities included in these financial statements reflect amounts known by the
Company to have been incurred. The Company has listed in prior filings with the
United States Trustee potential additional claims it believes may be asserted
against the Company.

To the best of the Debtor's knowledge and belief, based on currently available
information, all Federal income and payroll taxes due and owing have been paid.


1.       Other long-term liabilities had consisted of deferred tax assets and
         liabilities, net. Deferred tax assets and liabilities had been
         recognized for the expected future tax consequences of temporary
         differences between carrying amounts and the tax basis of assets and
         liabilities. The Debtor adjusted the recorded amounts to zero based
         upon the expected outcome of Chapter 11 proceedings.

2.       The Debtor reclassed unused, pre-petition pre-paid airline tickets to
         offset related claims filed against AMCV Cruise Operations, an
         affiliated Debtor.

EX-99.12

                                                                   EXHIBIT 99.12


DEBTOR:  GREAT INDEPENDENCE SHIP CO.                CASE NUMBER:  01-10969 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED





In accordance with title 28, section 1746, of the United States Code, I declare
under penalty of perjury that I have examined the attached December Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.





/s/ EDDIE J. PUSTIZZI
- ----------------------
Eddie J. Pustizzi
Director, Accounting











DEBTOR:  GREAT INDEPENDENCE SHIP CO.                CASE NUMBER:  01-10969 (JWV)


                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

                                    CONTENTS


Attachment 1               Summary of Bank and Investment Accounts

Attachment 2               Schedule of Receipts and Disbursements

Attachment 3               Bank and Investment Account Statements

Attachment 4               Income Statement

Attachment 5               Balance Sheet

Attachment 6               Summary of Due To/Due From Intercompany Accounts

Attachment 7               Accounts Receivable Aging

Attachment 8               Accounts Payable Detail

Attachment 9               Notes to December Monthly Operating Report






                                      Summary Of Bank And Investment Accounts                    Attachment 1
                                             Great Independence Ship Co.
Summary                                        Case No: 01-10969 (JWV)                           UNAUDITED
Great Independence Ship Co.                  For Month Of December, 2002

                                            Balances
                                --------------------------------        Receipts &        Bank
                                   Opening           Closing            Disbursements     Statements    Account
Account                         As Of 12/01/02    As Of 12/31/02        Included          Included      Reconciled
- -------                         --------------    --------------        --------          --------      ----------
                                                                                         
No Bank Or Investment                  NA                NA                  NA               NA            NA
Accounts



                                   Receipts & Disbursements        Attachment 2
                                  Great Independence Ship Co.
Summary                             Case No: 01-10969 (JWV)
Great Independence Ship Co.       For Month Of December, 2002
Attach 2


       No Receipts Or Disbursements Due To No Bank Or Investment Accounts



                                                                                      
                                     Concentration & Investment Account Statements          Attachment 3
                                            Great Independence Ship Co.
Summary                                       Case No: 01-10969 (JWV)
Great Independence Ship Co.                 For Month Of December, 2002
Attach 3




          No Statements Due To No Concentration Or Investment Accounts



AMCV US SET OF BOOKS                       Date: 16-JAN-03 15:26:30
INCOME STATEMENT - ATTACHMENT 4            Page:   1
Current Period: DEC-02

currency USD
Company=54 (S.S. INDEPENDENCE)


                                           PTD-Actual
                                           31-Dec-02
                                         --------------
                                      
Revenue
Gross Revenue                                      0.00
Allowances                                         0.00
                                         --------------
Net Revenue                                        0.00

Operating Expenses
Air                                                0.00
Hotel                                              0.00
Commissions                                        0.00
Onboard Expenses                                   0.00
Passenger Expenses                                 0.00
Vessel Expenses                                    0.00
Layup/Drydock Expense                              0.00
Vessel Insurance                                   0.00
                                         --------------
Total Operating Expenses                           0.00

                                         --------------
Gross Profit                                       0.00

SG&A Expenses
Sales & Marketing                                  0.00
Start-Up Costs                                     0.00
                                         --------------
Total SG&A Expenses                                0.00

                                         --------------
EBITDA                                             0.00

Depreciation                                       0.00

                                         --------------
Operating Income                                   0.00

Other Expense/(Income)
Interest Income                                    0.00
Equity in Earnings for Sub                         0.00
Reorganization expenses                            0.00
                                         --------------
Total Other Expense/(Income)                       0.00

                                         --------------
Net Pretax Income/(Loss)                           0.00

Income Tax Expense                        (1,266,494.79)

                                         --------------
Net Income/(Loss)                          1,266,494.79
                                         ==============





AMCV US SET OF BOOKS                                   Date: 20-JAN-03 12:59:16
BALANCE SHEET - ATTACHMENT 5                           Page:   1
Current Period: DEC-02

currency USD
Company=54 (S.S. INDEPENDENCE)




                                                  YTD-Actual                     YTD-Actual
                                                  31-Dec-02                      22-Oct-01
                                             ----------------                ----------------
                                                                       
ASSETS

Cash and Equivalent                                      0.00                       64,505.83

Restricted Cash                                          0.00                            0.00

Accounts Receivable                                      0.00                      175,538.74

Inventories                                              0.00                    1,148,206.76

Prepaid Expenses                                         0.00                        2,954.26

Other Current Assets                                     0.00                       16,615.13

                                             ----------------                ----------------
Total Current Assets                                     0.00                    1,407,820.72


Fixed Assets                                             0.00                   97,928,924.04

Accumulated Depreciation                                 0.00                  (44,272,667.29)

                                             ----------------                ----------------
Net Fixed Assets                                         0.00                   53,656,256.75


Net Goodwill                                             0.00                            0.00

Intercompany Due To/From                       (18,171,945.04)                 (17,643,280.88)

Net Deferred Financing Fees                              0.00                      709,459.82

Net Investment in Subsidiaries                           0.00                            0.00

                                             ----------------                ----------------
Total Other Assets                             (18,171,945.04)                 (16,933,821.06)

                                             ----------------                ----------------
Total Assets                                   (18,171,945.04)                  38,130,256.41
                                             ================                ================





AMCV US SET OF BOOKS                                   Date: 20-JAN-03 12:59:16
BALANCE SHEET - ATTACHMENT 5                           Page:   2
Current Period: DEC-02

currency USD
Company=54 (S.S. INDEPENDENCE)


                                                  YTD-Actual                    YTD-Actual
                                                  31-Dec-02                     22-Oct-01
                                              ------------------            -------------------
                                                                      
LIABILITIES

Accounts Payable                                            0.00                           0.00

Accrued Liabilities                                         0.00                      31,544.34

Deposits                                                    0.00                           0.00

                                              ------------------            -------------------
Total Current Liabilities                                   0.00                      31,544.34


Long Term Debt                                              0.00                           0.00

Other Long Term Liabilities                                 0.00                   1,266,494.79

                                              ------------------            -------------------
Total Liabilities                                           0.00                   1,298,039.13


Liabilities Subject to Compromise                  31,933,193.92                  32,372,521.16


OWNER'S EQUITY

Common Stock                                            1,000.00                       1,000.00

Add'l Paid In Capital                              17,616,000.00                  17,616,000.00

Current Net Income (Loss)                         (54,257,119.01)                 (9,694,324.85)

Retained Earnings                                 (13,465,019.95)                 (3,462,979.03)

                                              ------------------            -------------------
Total Owner's Equity                              (50,105,138.96)                  4,459,696.12

                                              ------------------            -------------------
Total Liabilities & Equity                        (18,171,945.04)                 38,130,256.41
                                              ==================            ===================



Great Independence Ship Co.                                      01-10969 (JWV)


                                  ATTACHMENT 6
                    Summary List of Due To/Due From Accounts
                     For the Month Ended December 31, 2002




                                                CASE           BEGINNING                                                 ENDING
AFFILIATE NAME                                  NUMBER         BALANCE             DEBITS           CREDITS            BALANCE
                                                                                                 
American Classic Voyages Co.                  01-10954       (24,948,774.58)         --               --           (24,948,774.58)
AMCV Cruise Operations, Inc.                  01-10967       (36,656,636.93)         --               --           (36,656,636.93)
The Delta Queen Steamboat Co.                 01-10970            83,084.83          --               --                83,084.83
Great AQ Steamboat, L.L.C                     01-10960             4,881.60          --               --                 4,881.60
Great Ocean Cruise Line, L.L.C                01-10959             2,195.09          --               --                 2,195.09
Cruise America Travel, Incorporated           01-10966           (16,321.27)         --               --               (16,321.27)
Cape Cod Light, L.L.C                         01-10962           (32,099.49)         --               --               (32,099.49)
Project America, Inc.                         N/A                 21,415.35          --               --                21,415.35
Oceanic Ship Co.                              N/A              1,172,074.09          --               --             1,172,074.09
Project America Ship I, Inc.                  N/A                277,329.74          --               --               277,329.74
Great Hawaiian Cruise Line, Inc.              01-10975        24,282,460.92          --               --            24,282,460.92
Great Hawaiian Properties Corporation         01-10971        28,898,393.97          --               --            28,898,393.97
American Hawaii Properties Corporation        01-10976           542,250.76          --               --               542,250.76
CAT II, Inc.                                  01-10968       (11,802,199.12)         --               --           (11,802,199.12)
                                                            ---------------------------------------------------------------------
                                                             (18,171,945.04)         --               --           (18,171,945.04)
                                                            =====================================================================



                           Great Independence Ship Co.
                                 01-10969 (JWV)




                            Accounts Receivable Aging
                             As of December 31, 2002







                                  Attachment 7


                                 Not Applicable





                           Great Independence Ship Co.
                                 01-10969 (JWV)




                             Accounts Payable Detail
                             As of December 31, 2002







                                  Attachment 8


                                 Not Applicable




DEBTOR:  GREAT INDEPENDENCE SHIP CO.               CASE NUMBER:  01-10969 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 30, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

                                  ATTACHMENT 9
                   NOTES TO DECEMBER MONTHLY OPERATING REPORT


The information contained herein is unaudited.

Liabilities included in these financial statements reflect amounts known by the
Company to have been incurred. The Company has listed in prior filings with the
United States Trustee potential additional claims it believes may be asserted
against the Company.

To the best of the Debtor's knowledge and belief, based on currently available
information, all Federal income and payroll taxes due and owing have been paid.


1.       Other long-term liabilities had consisted of deferred tax assets and
         liabilities, net. Deferred tax assets and liabilities had been
         recognized for the expected future tax consequences of temporary
         differences between carrying amounts and the tax basis of assets and
         liabilities. The Debtor adjusted the recorded amounts to zero based
         upon the expected outcome of Chapter 11 proceedings.

EX-99.13

                                                                   EXHIBIT 99.13

DEBTOR:  THE DELTA QUEEN STEAMBOAT COMPANY          CASE NUMBER:  01-10970 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

In accordance with title 28, section 1746, of the United States Code, I declare
under penalty of perjury that I have examined the attached December Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.

/s/ EDDIE J. PUSTIZZI
- ----------------------
Eddie J. Pustizzi
Director, Accounting

DEBTOR:  THE DELTA QUEEN STEAMBOAT COMPANY          CASE NUMBER:  01-10970 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED


                                    CONTENTS


Attachment 1               Summary of Bank and Investment Accounts

Attachment 2               Schedule of Receipts and Disbursements

Attachment 3               Bank and Investment Account Statements

Attachment 4               Income Statement

Attachment 5               Balance Sheet

Attachment 6               Summary of Due To/Due From Intercompany Accounts

Attachment 7               Accounts Receivable Aging

Attachment 8               Accounts Payable Detail

Attachment 9               Notes to December Monthly Operating Report

                                                                                                   

                                              Summary Of Bank And Investment Accounts                    Attachment 1
                                             The Delta Queen Steamboat Co.
Summary                                  Case No: 01-10970 (JWV)                                         Unaudited
The Delta Queen Steamboat Co.                 For Month Of December, 2002




                                          Balances
                                -----------------------------        Receipts &       Bank
                                    Opening       Closing            Disbursements    Statements          Account
Account                         As Of 12/01/02  As Of 12/31/02       Included         Included            Reconciled
                                                                                           
Delta Queen Controlled Disb               0.00            0.00       Yes              Yes                 Yes
Hibernia
Account # - 542027373

Delta Queen Master Cash             119,432.28      183,350.85       Yes              Yes                 Yes
Hibernia
Account # - 812-395-335

Delta Queen Payroll                  15,511.84        4,043.59       Yes              No - Not            Yes
Hibernia                                                                              Concentration
Account # - 812-395-289                                                               Account

The Delta Queen Steamboat Co        754,291.39      554,266.68       Yes              No - Not            Yes
Escrow Account - DQ/DN IDCC                                                           Concentration
LaSalle                                                                               Account
Account # - 62-9003-40-1

The Delta Queen Steamboat Co     28,704,567.35   27,986,143.56       Yes              No - Not            Yes
LaSalle - Investment Account                                                          Concentration
03-9042-30-4                                                                          Account

The Delta Queen Steamboat Co.             0.00            0.00       No -             No -                No -
LaSalle - Wealth Management                                          Account          Account             Account
Account # - TNE-043290                                               Closed           Closed              Closed

The Delta Queen Steamboat Co              0.00            0.00       No -             No -                No -
Escrow Account                                                       Account          Account             Account
LaSalle                                                              Closed           Closed              Closed
Account # - 62-8930-70-3

The Delta Queen Steamboat Co.             0.00            0.00       No -             No -                No -
AmSouth                                                              Account          Account             Account
Account # - 19356307                                                 Closed           Closed              Closed

Delta Queen                               0.00            0.00       No -             No -                No -
LaSalle                                                              Account          Account             Account
Account # - 5800155771                                               Closed           Closed              Closed

DQ Credit Card                            0.00            0.00       No -             No -                No -
Bank One                                                             Account          Account             Account
Account # - 552-0110062868                                           Closed           Closed              Closed

DQ Master Cash                            0.00            0.00       No -             No -                No -
Bank One                                                             Account          Account             Account
Account # - 552-0110256700                                           Closed           Closed              Closed

The Delta Queen Steamboat Co              0.00            0.00       No -             No -                No -
Receipts                                                             Account          Account             Account
Hibernia                                                             Closed           Closed              Closed
Account # - 882-390-047

The Delta Queen Steamboat Co              0.00            0.00       No -             No -                No -
Receipts                                                             Account          Account             Account
LaSalle                                                              Closed           Closed              Closed
Account # - 5800155839

The Delta Queen Steamboat Co              0.00            0.00       No -             No -                No -
Escrow Account - DQ/DN - Seller Proraton                             Account          Account             Account
LaSalle                                                              Closed           Closed              Closed
Account # - 62-9003-42-7




                             Receipts & Disbursements             Attachment 2-1
                           The Delta Queen Steamboat Co.
R&D - Hibernia              Case No: 01-10970 (JWV)                    UNAUDITED
DQ Controlled Disb                  Hibernia
                            Controlled Disbursements
                              Account # - 542027373
                          1 December 02 - 31 December 02

Opening Balance - 1 December 02
                           0.00

Receipts

                     144,877.01   From The Delta Queen Steam Boat Co. -
                                    Hibernia - DQSC Master Cash -
                                    Account (812-395-335)



                ---------------
                     144,877.01   Total Receipts

Disbursements

                        (199.50)  Crew Maintenance & Medical
                           0.00   O/S Post Petition Drydock Invoices
                     (71,120.10)  Professional Fees
                      (2,318.77)  SG&A - Chicago
                      (8,899.69)  SG&A - Weston
                      (3,817.44)  SG&A - NOLA ( Temp Help)

                     (45,771.51)  Legal Fees P&I Claims
                     (12,750.00)  Quarterly US Trustee Fee

                           0.00   Replenish Petty Cash




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

                    (144,877.01)  Total Disbursements

Closing Balance - 31 December  02
                           0.00



                              Receipts & Disbursements            Attachment 2-2
                            The Delta Queen Steamboat Co.
R&D - Hibernia                Case No: 01-10970 (JWV)                  UNAUDITED
DQ Master Cash                         Hibernia
                                   DQ Master Cash
                              Account # - 812-395-335
                           1 December 02 - 31 December 02

Opening Balance - 1 December 02
                119,432.28

Receipts

                750,000.00  From Delta Queen Steamboat CO - LaSalle
                              Investment Acct (#039042304)
                  4,000.00  From Mississippi Queen Steamer
                              Hibernia Acct (#812-502-719)
                    500.50  From Delta Queen Steamer
                              Hibernia Acct (#812-395-270)




               -----------
                754,500.50  Total Receipts

Disbursements

               (144,877.01) To The Delta Queen Steam Boat Co. -
                              Hibernia - DQSC Contr. Disb. - Account (542027373)
                (36,000.00) Postage - Logan & Company
                   (409.78) Hibernia National Bank - Fees

                (35,000.00) To The Delta Queen Steam Boat Co Payroll Acct
                              (812395289) - Hibernia -
               (139,962.22) Professional Fees - Latham & Watkins
                (57,439.65) Professional Fees Walsh,Monzack & Monaco
               (272,097.44) Professional Fees - Hahn & Hessen

                 (4,795.83) Professional Fees - Policano & Manzo
                            Professional Fees - AMA/Chanin

               (690,581.93) Total Disbursements

Closing Balance -  31 December 02
                183,350.85



                          Receipts & Disbursements                Attachment 2-3
                        The Delta Queen Steamboat Co.
R&D - Hibernia            Case No: 01-10970 (JWV)                      UNAUDITED
DQ Payroll                       Hibernia
                                DQ Payroll
                          Account # - 812-395-289
                      1 December 02 - 31 December 02

Opening Balance - 1 December 02
                 15,511.84

Receipts

                 35,000.00  From The Delta Queen Steam Boat Co. -
                             Hibernia - DQSC Master Cash - Account (812-395-335)







               -----------
                 35,000.00  Total Receipts

Disbursements

                (46,468.25) Payroll - Wires & Checks


               -----------
                (46,468.25) Total Disbursements

Closing Balance - 31 December  02
                  4,043.59



                             Receipts & Disbursements             Attachment 2-4
                           The Delta Queen Steamboat Co.
R&D - LaSalle                Case No: 01-10970 (JWV)                   UNAUDITED
DQ-DN IDCC Escrow                    LaSalle
                                 DQ-DN IDCC Escrow
                             Account # - 62-9003-40-1
                          1 December 02 - 31 December 02

Opening Balance - 1 December 02
                    754,291.39

Receipts

                        653.94       Interest Income
                   -----------
                        653.94       Total Receipts

Disbursements

                   (200,678.65)      Disbursement to DNPS for settlement
                                      of passenger priority claims
                   -----------
                   (200,678.65)      Total Disbursements

Closing Balance - 31 December 02
                    554,266.68



                            Receipts & Disbursements              Attachment 2-5
                          The Delta Queen Steamboat Co.
R&D - LaSalle                Case No: 01-10970 (JWV)                   UNAUDITED
Investment                LaSalle - Investment Account

                            Account # - 03-9042-30-4
                         1 December 02 - 31 December 02

Opening Balance - 1 December 02
                 28,704,567.35

Receipts

                     31,576.21      Interrest Earned
                   -----------
                     31,576.21      Total Receipts

Disbursements

                   (750,000.00)     To Delta Queen Steamboat CO Master Cash
                                    Hibernia # 812-395-335




                   -----------
                   (750,000.00)     Total Disbursements

Closing Balance - 31 December  02
                 27,986,143.56



AMCV US SET OF BOOKS                                 Date: 17-JAN-03 10:01:35
INCOME STATEMENT - ATTACHMENT 4                      Page:   1
Current Period: DEC-02

currency USD
Company=20 (DELTA QUEEN STEAM CO)


                                                        PTD-Actual
                                                         31-Dec-02
                                                      ----------------
                                                   
Revenue

Gross Revenue                                                     0.00
Allowances                                                        0.00
                                                      ----------------
Net Revenue                                                       0.00

Operating Expenses

Air                                                               0.00
Hotel                                                             0.00
Commissions                                                       0.00
Onboard Expenses                                                  0.00
Passenger Expenses                                                0.00
Vessel Expenses                                                   0.00
Layup/Drydock Expense                                             0.00
Vessel Insurance                                                  0.00
                                                      ----------------
Total Operating Expenses                                          0.00

                                                      ----------------
Gross Profit                                                      0.00

SG&A Expenses

Sales & Marketing                                                 0.00
Start-Up Costs                                                    0.00
                                                      ----------------
Total SG&A Expenses                                               0.00

                                                      ----------------
EBITDA                                                            0.00

Depreciation                                                      0.00

                                                      ----------------
Operating Income                                                  0.00

Other Expense/(Income)
Interest Income                                                   0.00
Equity in Earnings for Sub                               (4,820,420.16)
Reorganization expenses                                           0.00
Other expense                                               (32,958.49)
                                                      ----------------
Total Other Expense/(Income)                              4,787,461.67

                                                      ----------------
Net Pretax Income/(Loss)                                 (4,787,461.67)

Income Tax Expense                                       (9,993,779.93)

                                                      ----------------
Net Income/(Loss)                                         5,206,318.26
                                                      ================




AMCV US SET OF BOOKS                                    Date: 20-JAN-03 12:59:17
BALANCE SHEET - ATTACHMENT 5                            Page:   1
Current Period: DEC-02

currency USD
Company=20 (DELTA QUEEN STEAM CO)


                                                          YTD-Actual                     YTD-Actual
                                                           31-Dec-02                      22-Oct-01
                                                       -----------------               ---------------
                                                                                 
ASSETS

Cash and Equivalent                                        28,173,538.00                  2,494,983.63

Restricted Cash                                               554,266.68                          0.00

Accounts Receivable                                            12,000.00                          0.00

Inventories                                                         0.00                    840,779.06

Prepaid Expenses                                                    0.00                     13,147.33

Other Current Assets                                                0.00                          0.00

                                                       -----------------               ---------------
Total Current Assets                                       28,739,804.68                  3,348,910.02


Fixed Assets                                                        0.00                  8,202,345.75

Accumulated Depreciation                                            0.00                 (5,195,800.16)

                                                       -----------------               ---------------
Net Fixed Assets                                                    0.00                  3,006,545.59


Net Goodwill                                                        0.00                          0.00

Intercompany Due To/From                                   12,817,773.54                 37,437,552.28

Net Deferred Financing Fees                                         0.00                      5,434.15

Net Investment in Subsidiaries                            (88,306,280.06)                33,999,708.26

                                                       -----------------               ---------------
Total Other Assets                                        (75,488,506.52)                71,442,694.69

                                                       -----------------               ---------------
Total Assets                                              (46,748,701.84)                77,798,150.30
                                                       =================               ===============



AMCV US SET OF BOOKS                                    Date: 20-JAN-03 12:59:17
BALANCE SHEET - ATTACHMENT 5                            Page:   2
Current Period: DEC-02

currency USD
Company=20 (DELTA QUEEN STEAM CO)


                                                         YTD-Actual                     YTD-Actual
                                                          31-Dec-02                      22-Oct-01
                                                       ---------------                 ------------
                                                                                 
LIABILITIES

Accounts Payable                                                    0.00                          0.00

Accrued Liabilities                                            31,968.58                          0.00

Deposits                                                            0.00                          0.00

                                                       -----------------               ---------------
Total Current Liabilities                                      31,968.58                          0.00


Long Term Debt                                                      0.00                          0.00

Other Long Term Liabilities                                         0.00                  9,993,779.93

                                                       -----------------               ---------------
Total Liabilities                                              31,968.58                  9,993,779.93


Liabilities Subject to Compromise                             577,835.68                    577,835.68


OWNER'S EQUITY

Common Stock                                                    1,000.00                      1,000.00

Add'l Paid In Capital                                      33,564,332.71                 33,564,332.71

Current Net Income (Loss)                                (113,714,034.29)                (2,866,520.92)

Retained Earnings                                          32,790,195.48                 36,527,722.90

                                                       -----------------               ---------------
Total Owner's Equity                                      (47,358,506.10)                67,226,534.69

                                                       -----------------               ---------------
Total Liabilities & Equity                                (46,748,701.84)                77,798,150.30
                                                       =================               ===============



                                                            
The Delta Queen Steamboat Co.                                           ATTACHMENT 6                                 01-10970 (JWV)
                                                          Summary List Due To/Due From Accounts
                                                         For the Month Ended December 31, 2002




                                                CASE             BEGINNING                                             ENDING
AFFILIATE NAME                                  NUMBER            BALANCE          DEBITS           CREDITS           BALANCE
                                                                                                      
American Classic Voyages Co.                    01-10954        (6,204,670.44)              -                -        (6,204,670.44)
AMCV Cruise Operations, Inc.                    01-10967       103,162,515.12      956,088.37        51,960.74       104,066,642.75
Great AQ Steamboat, L.L.C.                      01-10960       (38,756,706.53)      73,062.00                -       (38,683,644.53)
Great Pacific NW Cruise Line, L.L.C.            01-10977        (8,349,046.78)       2,966.86                -        (8,346,079.92)
Great River Cruise Line, L.L.C.                 01-10963       (10,520,537.68)      14,268.90           500.50       (10,506,769.28)
Great Ocean Cruise Line, L.L.C.                 01-10959       (17,374,876.19)     129,631.33         4,000.00       (17,249,244.86)
Cruise America Travel, Incorporated             01-10966           256,503.82               -       256,291.69               212.13
Delta Queen Coastal Voyages, L.L.C.             01-10964          (880,428.81)              -                -          (880,428.81)
Cape Cod Light, L.L.C.                          01-10962        (1,404,059.37)              -                -        (1,404,059.37)
Cape May Light, L.L.C.                          01-10961        (8,431,118.53)              -                -        (8,431,118.53)
Project America, Inc.                           N/A             (2,934,348.03)              -                -        (2,934,348.03)
Oceanic Ship Co.                                N/A               (136,810.43)              -                -          (136,810.43)
Project America Ship I, Inc.                    N/A                255,723.41               -                -           255,723.41
Project America Ship II, Inc.                   N/A               (142,646.25)              -                -          (142,646.25)
Ocean Development Co.                           01-10972         2,214,633.49               -                -         2,214,633.49
Great Hawaiian Cruise Line, Inc.                01-10975            (7,057.02)              -                -            (7,057.02)
Great Hawaiian Properties Corporation           01-10971         1,247,073.77               -                -         1,247,073.77
American Hawaii Properties Corporation          01-10976            43,550.29               -                -            43,550.29
Great Independence Ship Co.                     01-10969           (83,084.83)              -                -           (83,084.83)
CAT II, Inc.                                    01-10968              (100.00)              -                -              (100.00)
                                                             ----------------------------------------------------------------------
                                                                11,954,509.01    1,176,017.46       312,752.93        12,817,773.54
                                                             ======================================================================




                        The Delta Queen Steamboat Company
                                 01-10970 (JWV)




                            Accounts Receivable Aging
                             As of December 31, 2002






                                  Attachment 7

                                 Not Applicable



                        The Delta Queen Steamboat Company
                                 01-10970 (JWV)




                             Accounts Payable Detail
                             As of December 31, 2002






                                  Attachment 8

                                 Not Applicable



DEBTOR:  THE DELTA QUEEN STEAMBOAT COMPANY          CASE NUMBER:  01-10970 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 30, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

                                  ATTACHMENT 9
                   NOTES TO DECEMBER MONTHLY OPERATING REPORT


The information contained herein is unaudited.

Liabilities included in these financial statements reflect amounts known by the
Company to have been incurred. The Company has listed in prior filings with the
United States Trustee potential additional claims it believes may be asserted
against the Company.

To the best of the Debtor's knowledge and belief, based on currently available
information, all Federal income and payroll taxes due and owing have been paid.

1.       Accounts receivable represent monies due from the Purchaser. During
         October, a majority of the receivable balance was collected. Receipt of
         the remaining balance is awaiting transfer of title documentation.

2.       Other long-term liabilities had consisted of deferred tax assets and
         liabilities, net. Deferred tax assets and liabilities had been
         recognized for the expected future tax consequences of temporary
         differences between carrying amounts and the tax basis of assets and
         liabilities. The Debtor adjusted the recorded amounts to zero based
         upon the expected outcome of Chapter 11 proceedings.

3.       The reduction in restricted cash was due to the disbursement of
         escrowed monies to Delaware North Companies for receipt of waivers from
         passengers holding priority claims. The waived priority claims were
         filed against one of three affiliated Debtors: Great Ocean Cruise Line,
         LLC, Great AQ Steamboat, LLC and Great River Cruise Line, LLC.

EX-99.14

                                                                   EXHIBIT 99.14

DEBTOR:  GREAT HAWAIIAN PROPERTIES CORPORATION     CASE NUMBER:  01-10971 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

In accordance with title 28, section 1746, of the United States Code, I declare
under penalty of perjury that I have examined the attached December Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.



/s/ EDDIE J. PUSTIZZI
- ------------------------
Eddie J. Pustizzi
Director, Accounting




DEBTOR:  GREAT HAWAIIAN PROPERTIES CORPORATION     CASE NUMBER:  01-10971 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

                                    CONTENTS

Attachment 1                   Summary of Bank and Investment Accounts

Attachment 2                   Schedule of Receipts and Disbursements

Attachment 3                   Bank and Investment Account Statements

Attachment 4                   Income Statement

Attachment 5                   Balance Sheet

Attachment 6                   Summary of Due To/Due From Intercompany Accounts

Attachment 7                   Accounts Receivable Aging

Attachment 8                   Accounts Payable Detail

Attachment 9                   Notes to December Monthly Operating Report




                                                                                                                 
                                                   Summary Of Bank And Investment Accounts                             Attachment 1
                                                    Great Hawaiian Properties Corporation
Summary                                                    Case No: 01-10971 (JWV)                                        UNAUDITED
Great Hawaiian Properties Corp.                          For Month Of December, 2002





                                           Balances
                              ----------------------------------         Receipts &             Bank
                                 Opening             Closing             Disbursements          Statements            Account
Account                       As Of 12/01/02      As Of 12/31/02         Included               Included              Reconciled
- -------                       --------------      --------------         --------               --------              ----------
                                                                                                       
No Bank Or Investment               NA                  NA                    NA                   NA                    NA
Accounts





                                                                                                                 
                                                         Receipts & Disbursements                                      Attachment 2
                                                   Great Hawaiian Properties Corporation
Summary                                                  Case No: 01-10971 (JWV)
Great Hawaiian Properties Corp.                         For Month Of December, 2002
Attach 2



       No Receipts Or Disbursements Due To No Bank Or Investment Accounts




                                                                                                                 
                                                  Concentration & Investment Account Statements                        Attachment 3
                                                      Great Hawaiian Properties Corporation
Summary                                                      Case No: 01-10971 (JWV)
Great Hawaiian Properties Corp.                            For Month Of December, 2002
Attach 3



          No Statements Due To No Concentration Or Investment Accounts




AMCV US SET OF BOOKS                                   Date: 16-JAN-03 15:29:05
INCOME STATEMENT - ATTACHMENT 4                        Page:   1
Current Period: DEC-02

currency USD
Company=51 (AHC - OPERATIONS)



                                                 PTD-Actual
                                                  31-Dec-02
                                              ----------------
                                           
Revenue
Gross Revenue                                             0.00
Allowances                                                0.00
                                              ----------------
Net Revenue                                               0.00

Operating Expenses
Air                                                       0.00
Hotel                                                     0.00
Commissions                                               0.00
Onboard Expenses                                          0.00
Passenger Expenses                                        0.00
Vessel Expenses                                           0.00
Layup/Drydock Expense                                     0.00
Vessel Insurance                                          0.00
                                              ----------------
Total Operating Expenses                                  0.00

                                              ----------------
Gross Profit                                              0.00

SG&A Expenses
Sales & Marketing                                         0.00
Start-Up Costs                                            0.00
                                              ----------------
Total SG&A Expenses                                       0.00

                                              ----------------
EBITDA                                                    0.00

Depreciation                                              0.00

                                              ----------------
Operating Income                                          0.00

Other Expense/(Income)
Interest Income                                           0.00
Equity in Earnings for Sub                                0.00
Reorganization expenses                                   0.00
                                              ----------------
Total Other Expense/(Income)                              0.00

                                              ----------------
Net Pretax Income/(Loss)                                  0.00

Income Tax Expense                               15,184,601.60

                                              ----------------
Net Income/(Loss)                               (15,184,601.60)
                                              ================





AMCV US SET OF BOOKS                                   Date: 20-JAN-03 12:59:17
BALANCE SHEET - ATTACHMENT 5                           Page:   1
Current Period: DEC-02

currency USD
Company=51 (AHC - OPERATIONS)



                                                 YTD-Actual                        YTD-Actual
                                                  31-Dec-02                         22-Oct-01
                                              ---------------                   ---------------
                                                                          
ASSETS

Cash and Equivalent                                      0.00                        665,214.37

Restricted Cash                                          0.00                              0.00

Accounts Receivable                                      0.00                              0.00

Inventories                                              0.00                         36,560.78

Prepaid Expenses                                         0.00                          1,609.00

Other Current Assets                                     0.00                              0.00

                                              ---------------                   ---------------
Total Current Assets                                     0.00                        703,384.15


Fixed Assets                                             0.00                      1,992,727.87

Accumulated Depreciation                                 0.00                     (1,687,090.91)

                                              ---------------                   ---------------
Net Fixed Assets                                         0.00                        305,636.96


Net Goodwill                                             0.00                              0.00

Intercompany Due To/From                        21,010,606.76                     20,319,892.39

Net Deferred Financing Fees                              0.00                              0.00

Net Investment in Subsidiaries                           0.00                              0.00

                                              ---------------                   ---------------
Total Other Assets                              21,010,606.76                     20,319,892.39

                                              ---------------                   ---------------
Total Assets                                    21,010,606.76                     21,328,913.50
                                              ===============                   ===============





AMCV US SET OF BOOKS                                   Date: 20-JAN-03 12:59:17
BALANCE SHEET - ATTACHMENT 5                           Page:   2
Current Period: DEC-02

currency USD
Company=51 (AHC - OPERATIONS)



                                                    YTD-Actual                    YTD-Actual
                                                    31-Dec-02                      22-Oct-01
                                                ---------------                 ---------------
                                                                                     
LIABILITIES

Accounts Payable                                           0.00                            0.00

Accrued Liabilities                                        0.00                            0.00

Deposits                                                   0.00                            0.00

                                                ---------------                 ---------------
Total Current Liabilities                                  0.00                            0.00


Long Term Debt                                             0.00                            0.00

Other Long Term Liabilities                                0.00                  (15,184,601.60)

                                                ---------------                 ---------------
Total Liabilities                                          0.00                  (15,184,601.60)


Liabilities Subject to Compromise                          0.00                            0.00


OWNER'S EQUITY

Common Stock                                           9,440.25                        9,440.25

Add'l Paid In Capital                             83,336,732.73                   83,336,732.73

Current Net Income (Loss)                        (15,502,908.34)                    (516,397.64)

Retained Earnings                                (46,832,657.88)                 (46,316,260.24)

                                                ---------------                 ---------------
Total Owner's Equity                              21,010,606.76                   36,513,515.10

                                                ---------------                 ---------------
Total Liabilities & Equity                        21,010,606.76                   21,328,913.50
                                                ===============                 ===============




Great Hawaiian Properties Corporation        ATTACHMENT 6         01-10971 (JWV)
                    Summary List of Due To/Due From Accounts
                     For the Month Ended December 31, 2002



                                                    CASE            BEGINNING                                          ENDING
AFFILIATE NAME                                     NUMBER            BALANCE         DEBITS        CREDITS            BALANCE
                                                                                                   
American Classic Voyages Co.                      01-10954        51,110,970.59        --             --           51,110,970.59
AMCV Cruise Operations, Inc.                      01-10967         6,116,875.06        --             --            6,116,875.06
The Delta Queen Steamboat Co.                     01-10970        (1,247,073.77)       --             --           (1,247,073.77)
Great AQ Steamboat, L.L.C.                        01-10960            22,591.38        --             --               22,591.38
Great Pacific NW Cruise Line, L.L.C.              01-10977            66,513.26        --             --               66,513.26
Great River Cruise Line, L.L.C.                   01-10963            41,555.00        --             --               41,555.00
Great Ocean Cruise Line, L.L.C.                   01-10959            34,964.32        --             --               34,964.32
Cape May Light, L.L.C.                            01-10961            (4,188.00)       --             --               (4,188.00)
Project America, Inc.                             N/A             (3,007,602.48)       --             --           (3,007,602.48)
Oceanic Ship Co.                                  N/A               (345,917.07)       --             --             (345,917.07)
Ocean Development Co.                             01-10972           780,707.24        --             --              780,707.24
Great Hawaiian Cruise Line, Inc.                  01-10975        (3,598,535.73)       --             --           (3,598,535.73)
American Hawaii Properties Corporation            01-10976           (62,430.01)       --             --              (62,430.01)
Great Independence Ship Co.                       01-10969       (28,898,393.97)       --             --          (28,898,393.97)
CAT II, Inc.                                      01-10968               570.94        --             --                  570.94
                                                                -----------------------------------------------------------------
                                                                  21,010,606.76        --             --           21,010,606.76
                                                                =================================================================





                      Great Hawaiian Properties Corporation
                                 01-10971 (JWV)




                            Accounts Receivable Aging
                             As of December 31, 2002







                                  Attachment 7


                                 Not Applicable




                      Great Hawaiian Properties Corporation
                                 01-10971 (JWV)




                             Accounts Payable Detail
                             As of December 31, 2002







                                  Attachment 8


                                 Not Applicable




DEBTOR:  GREAT HAWAIIAN PROPERTIES CORPORATION     CASE NUMBER:  01-10971 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 30, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

                                  ATTACHMENT 9
                   NOTES TO DECEMBER MONTHLY OPERATING REPORT

The information contained herein is unaudited.

Liabilities included in these financial statements reflect amounts known by the
Company to have been incurred. The Company has listed in prior filings with the
United States Trustee potential additional claims it believes may be asserted
against the Company.

To the best of the Debtor's knowledge and belief, based on currently available
information, all Federal income and payroll taxes due and owing have been paid.


1.       Other long-term liabilities had consisted of deferred tax assets and
         liabilities, net. Deferred tax assets and liabilities had been
         recognized for the expected future tax consequences of temporary
         differences between carrying amounts and the tax basis of assets and
         liabilities. The Debtor adjusted the recorded amounts to zero based
         upon the expected outcome of Chapter 11 proceedings.

EX-99.15

                                                                   EXHIBIT 99.15



DEBTOR:  OCEAN DEVELOPMENT CO.                      CASE NUMBER:  01-10972 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED







In accordance with title 28, section 1746, of the United States Code, I declare
under penalty of perjury that Ocean Development Co. was inactive for the above
referenced period and, to the best of my knowledge, the foregoing is true and
correct.






/s/ EDDIE J. PUSTIZZI
- ------------------------------
Eddie J. Pustizzi
Director, Accounting

EX-99.16

                                                                   EXHIBIT 99.16



DEBTOR:  AMCV HOLDINGS, INC.                        CASE NUMBER:  01-10973 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED







In accordance with title 28, section 1746, of the United States Code, I declare
under penalty of perjury that I have examined the attached December Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.





/s/ EDDIE J. PUSTIZZI
- ----------------------
Eddie J. Pustizzi
Director, Accounting


DEBTOR:  AMCV HOLDINGS, INC.                        CASE NUMBER:  01-10973 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED


                                    CONTENTS


Attachment 1               Summary of Bank and Investment Accounts

Attachment 2               Schedule of Receipts and Disbursements

Attachment 3               Bank and Investment Account Statements

Attachment 4               Income Statement

Attachment 5               Balance Sheet

Attachment 6               Summary of Due To/Due From Intercompany Accounts

Attachment 7               Accounts Receivable Aging

Attachment 8               Accounts Payable Detail

Attachment 9               Notes to December Monthly Operating Report



                        Summary Of Bank And Investment Accounts    Attachment 1
                                AMCV Holdings, Inc.
Summary                      Case No: 01-10973 (JWV)               UNAUDITED
AMCV Holdings, Inc.       For Month Of December, 2002



                                            Balances
                              --------------------------------    Receipts &         Bank
                                   Opening          Closing       Disbursements      Statements          Account
Account                       As Of 12/01/02    As Of 12/31/02    Included           Included            Reconciled
- -------                       --------------    --------------    --------           --------            ----------
                                                                                          
No Bank Or Investment              NA                NA             NA                 NA                   NA
Accounts


                                 Receipts & Disbursements          Attachment 2
                                  AMCV Holdings, Inc.
Summary                         Case No: 01-10973 (JWV)
AMCV Holdings, Inc.            For Month Of December, 2002
Attach 2


              No Receipts Or Disbursements Due To No Bank Or Investment Accounts

                   Concentration & Investment Account Statements   Attachment 3
                                AMCV Holdings, Inc.
Summary                      Case No: 01-10973 (JWV)
AMCV Holdings, Inc.        For Month Of December, 2002
Attach 3


              No Statements Due To No Concentration Or Investment Accounts

AMCV US SET OF BOOKS                       Date: 16-JAN-03 16:22:59
INCOME STATEMENT - ATTACHMENT 4            Page:   1
Current Period: DEC-02

currency USD
Company=12 (AMCV - HOLDINGS)



                                              PTD-Actual
                                              31-Dec-02
                                           ---------------
                                        
Revenue
Gross Revenue                                         0.00
Allowances                                            0.00
                                           ---------------
Net Revenue                                           0.00

Operating Expenses
Air                                                   0.00
Hotel                                                 0.00
Commissions                                           0.00
Onboard Expenses                                      0.00
Passenger Expenses                                    0.00
Vessel Expenses                                       0.00
Layup/Drydock Expense                                 0.00
Vessel Insurance                                      0.00
                                           ---------------
Total Operating Expenses                              0.00

                                           ---------------
Gross Profit                                          0.00

SG&A Expenses
Sales & Marketing                                     0.00
Start-Up Costs                                        0.00
                                           ---------------
Total SG&A Expenses                                   0.00

                                           ---------------
EBITDA                                                0.00

Depreciation                                          0.00

                                           ---------------
Operating Income                                      0.00

Other Expense/(Income)
Interest Income                                       0.00
Equity in Earnings for Sub                  (14,817,040.93)
Reorganization expenses                               0.00
                                           ---------------
Total Other Expense/(Income)                 14,817,040.93

                                           ---------------
Net Pretax Income/(Loss)                    (14,817,040.93)

Income Tax Expense                                    0.00

                                           ---------------
Net Income/(Loss)                           (14,817,040.93)
                                           ===============



AMCV US SET OF BOOKS                               Date: 20-JAN-03 12:59:23
BALANCE SHEET - ATTACHMENT 5                       Page:   1
Current Period: DEC-02

currency USD
Company=12 (AMCV - HOLDINGS)


                                                 YTD-Actual                      YTD-Actual
                                                 31-Dec-02                      22-Oct-01
                                             ----------------                ----------------
                                                                       
ASSETS

Cash and Equivalent                                      0.00                            0.00

Restricted Cash                                          0.00                            0.00

Accounts Receivable                                      0.00                            0.00

Inventories                                              0.00                            0.00

Prepaid Expenses                                         0.00                            0.00

Other Current Assets                                     0.00                            0.00

                                             ----------------                ----------------
Total Current Assets                                     0.00                            0.00


Fixed Assets                                             0.00                            0.00

Accumulated Depreciation                                 0.00                            0.00

                                             ----------------                ----------------
Net Fixed Assets                                         0.00                            0.00


Net Goodwill                                             0.00                            0.00

Intercompany Due To/From                                 0.00                            0.00

Net Deferred Financing Fees                              0.00                            0.00

Net Investment in Subsidiaries                (484,012,599.27)                    (918,077.34)

                                             ----------------                ----------------
Total Other Assets                            (484,012,599.27)                    (918,077.34)

                                             ----------------                ----------------
Total Assets                                  (484,012,599.27)                    (918,077.34)
                                             ================                ================



AMCV US SET OF BOOKS                                   Date: 20-JAN-03 12:59:23
BALANCE SHEET - ATTACHMENT 5                           Page:   2
Current Period: DEC-02

currency USD
Company=12 (AMCV - HOLDINGS)




                                                    YTD-Actual                       YTD-Actual
                                                    31-Dec-02                        22-Oct-01
                                                -----------------                -----------------
                                                                           
LIABILITIES

Accounts Payable                                             0.00                             0.00

Accrued Liabilities                                          0.00                             0.00

Deposits                                                     0.00                             0.00

                                                -----------------                -----------------
Total Current Liabilities                                    0.00                             0.00


Long Term Debt                                               0.00                             0.00

Other Long Term Liabilities                                  0.00                             0.00

                                                -----------------                -----------------
Total Liabilities                                            0.00                             0.00


Liabilities Subject to Compromise                            0.00                             0.00


OWNER'S EQUITY

Common Stock                                             9,440.25                         9,440.25

Add'l Paid In Capital                               79,208,059.85                    79,208,059.85

Current Net Income (Loss)                         (483,826,808.82)                  (13,500,663.21)

Retained Earnings                                  (79,403,290.55)                  (66,634,914.23)

                                                -----------------                -----------------
Total Owner's Equity                              (484,012,599.27)                     (918,077.34)

                                                -----------------                -----------------
Total Liabilities & Equity                        (484,012,599.27)                     (918,077.34)
                                                =================                =================




AMCV Holdings, Inc.                 ATTACHMENT 6                   01-10973(JWV)
                    Summary List of Due To/Due From Accounts
                      For the Month Ended December 31, 2002





                                      CASE                    BEGINNING                                                ENDING
AFFILIATE NAME                        NUMBER                   BALANCE         DEBITS            CREDITS              BALANCE
                                                                                                   
AMCV Cruise Operations, Inc.          01-10967               201,071.08      2,105,887.05               --         2,306,958.13
Project America, Inc.                 N/A                   (435,388.90)               --               --          (435,388.90)
Great Hawaiian Cruise Line, Inc.      01-10975               234,317.82                --     2,105,887.05        (1,871,569.23)
                                                   -----------------------------------------------------------------------------
                                                                     --      2,105,887.05     2,105,887.05                    -
                                                   =============================================================================



                               AMCV Holdings, Inc.
                                 01-10973 (JWV)




                            Accounts Receivable Aging
                             As of December 31, 2002







                                  Attachment 7


                                 Not Applicable





                               AMCV Holdings, Inc.
                                 01-10973 (JWV)




                             Accounts Payable Detail
                             As of December 31, 2002







                                  Attachment 8


                                 Not Applicable




DEBTOR:  AMCV HOLDINGS, INC.                       CASE NUMBER:  01-10973 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 30, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

                                  ATTACHMENT 9
                   NOTES TO DECEMBER MONTHLY OPERATING REPORT



The information contained herein is unaudited.

Liabilities included in these financial statements reflect amounts known by the
Company to have been incurred. The Company has listed in prior filings with the
United States Trustee potential additional claims it believes may be asserted
against the Company.

To the best of the Debtor's knowledge and belief, based on currently available
information, all Federal income and payroll taxes due and owing have been paid.

EX-99.17

                                                                   EXHIBIT 99.17

DEBTOR:  DQSB II, INC.                              CASE NUMBER:  01-10974 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED



In accordance with title 28, section 1746, of the United States Code, I declare
under penalty of perjury that I have examined the attached December Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.





/s/ EDDIE J. PUSTIZZI
- ----------------------
Eddie J. Pustizzi
Director, Accounting



DEBTOR:  DQSB II, INC.                              CASE NUMBER:  01-10974 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

                                    CONTENTS


Attachment 1               Summary of Bank and Investment Accounts

Attachment 2               Schedule of Receipts and Disbursements

Attachment 3               Bank and Investment Account Statements

Attachment 4               Income Statement

Attachment 5               Balance Sheet

Attachment 6               Summary of Due To/Due From Intercompany Accounts

Attachment 7               Accounts Receivable Aging

Attachment 8               Accounts Payable Detail

Attachment 9               Notes to December Monthly Operating Report



                                                                                                    
                                     Summary Of Bank And Investment Accounts                              Attachment 1
                                                   DQSB II, Inc.
Summary                                       Case No: 01-10974 (JWV)                                        UNAUDITED
DQSB II, Inc.                              For Month Of December, 2002





                                          Balances
                              --------------------------------     Receipts &          Bank
                                   Opening           Closing       Disbursements       Statements          Account
Account                       As Of 12/01/02    As Of 12/31/02     Included            Included            Reconciled
- -------                       --------------    --------------     --------            --------            ----------
                                                                                            
No Bank Or Investment                NA                 NA             NA                  NA                  NA
Accounts




                            Receipts & Disbursements                Attachment 2
                                  DQSB II, Inc.
Summary                     Case No: 01-10974 (JWV)
DQSB II, Inc.             For Month Of December, 2002
Attach 2

       No Receipts Or Disbursements Due To No Bank Or Investment Accounts



                  Concentration & Investment Account Statements     Attachment 3
                                  DQSB II, Inc.
Summary                     Case No: 01-10974 (JWV)
DQSB II, Inc.             For Month Of December, 2002
Attach 3

          No Statements Due To No Concentration Or Investment Accounts




AMCV US SET OF BOOKS                              Date: 17-JAN-03 10:11:42
INCOME STATEMENT - ATTACHMENT 4                   Page:   1
Current Period: DEC-02

currency USD
Company=60 (DELTA QUEEN SC II)
                                                     PTD-Actual
                                                     31-Dec-02
                                                  ---------------
Revenue
Gross Revenue                                                 0.00
Allowances                                                    0.00
                                                  -----------------
Net Revenue                                                   0.00

Operating Expenses
Air                                                           0.00
Hotel                                                         0.00
Commissions                                                   0.00
Onboard Expenses                                              0.00
Passenger Expenses                                            0.00
Vessel Expenses                                               0.00
Layup/Drydock Expense                                         0.00
Vessel Insurance                                              0.00
                                                  -----------------
Total Operating Expenses                                      0.00

                                                  -----------------
Gross Profit                                                  0.00

SG&A Expenses
Sales & Marketing                                             0.00
Start-Up Costs                                                0.00
                                                  -----------------
Total SG&A Expenses                                           0.00

                                                  -----------------
EBITDA                                                        0.00

Depreciation                                                  0.00

                                                  -----------------
Operating Income                                              0.00

Other Expense/(Income)
Interest Income                                               0.00
Equity in Earnings for Sub                              (64,062.62)
Reorganization expenses                                       0.00
                                                  -----------------
Total Other Expense/(Income)                             64,062.62

                                                  -----------------
Net Pretax Income/(Loss)                                (64,062.62)

Income Tax Expense                                        4,904.83

                                                  -----------------
Net Income/(Loss)                                       (68,967.45)
                                                  =================



AMCV US SET OF BOOKS                                   Date: 20-JAN-03 12:59:24
BALANCE SHEET - ATTACHMENT 5                           Page:   1
Current Period: DEC-02

currency USD
Company=60 (DELTA QUEEN SC II)



                                                 YTD-Actual                  YTD-Actual
                                                 31-Dec-02                   22-Oct-01
                                              ---------------               ------------
                                                                      
ASSETS

Cash and Equivalent                                       0.00                       0.00

Restricted Cash                                           0.00                       0.00

Accounts Receivable                                       0.00                       0.00

Inventories                                               0.00                       0.00

Prepaid Expenses                                          0.00                       0.00

Other Current Assets                                      0.00                       0.00

                                              -----------------             --------------
Total Current Assets                                      0.00                       0.00


Fixed Assets                                              0.00                       0.00

Accumulated Depreciation                                  0.00                       0.00

                                              -----------------             --------------
Net Fixed Assets                                          0.00                       0.00


Net Goodwill                                              0.00                       0.00

Intercompany Due To/From                            (22,497.32)                (21,361.32)

Net Deferred Financing Fees                               0.00                       0.00

Net Investment in Subsidiaries                   (1,893,887.16)                178,552.30

                                              -----------------             --------------
Total Other Assets                               (1,916,384.48)                157,190.98

                                              -----------------             --------------
Total Assets                                     (1,916,384.48)                157,190.98
                                              =================             ==============





AMCV US SET OF BOOKS                                   Date: 20-JAN-03 12:59:24
BALANCE SHEET - ATTACHMENT 5                           Page:   2
Current Period: DEC-02

currency USD
Company=60 (DELTA QUEEN SC II)



                                                 YTD-Actual                  YTD-Actual
                                                 31-Dec-02                   22-Oct-01
                                              ---------------               ------------
                                                                      
LIABILITIES

Accounts Payable                                          0.00                       0.00

Accrued Liabilities                                       0.00                       0.00

Deposits                                                  0.00                       0.00

                                              -----------------             --------------
Total Current Liabilities                                 0.00                       0.00


Long Term Debt                                            0.00                       0.00

Other Long Term Liabilities                               0.00                  (4,904.83)

                                              -----------------             --------------
Total Liabilities                                         0.00                  (4,904.83)


Liabilities Subject to Compromise                         0.00                       0.00


OWNER'S EQUITY

Common Stock                                              0.00                       0.00

Add'l Paid In Capital                               600,000.00                 600,000.00

Current Net Income (Loss)                        (2,062,924.62)               (181,334.98)

Retained Earnings                                  (453,459.86)               (256,569.21)

                                              -----------------             --------------
Total Owner's Equity                             (1,916,384.48)                162,095.81

                                              -----------------             --------------
Total Liabilities & Equity                       (1,916,384.48)                157,190.98
                                              =================             ==============









                                                                                                      
DQSB II, Inc.                                               ATTACHMENT 6                                 01-10974 (JWV)
                                             Summary List of Due To/Due From Accounts
                                              For the Months Ended December 31, 2002





                                                CASE            BEGINNING                                                 ENDING
AFFILIATE NAME                                  NUMBER          BALANCE             DEBITS           CREDITS              BALANCE
                                                                                                        
American Classic Voyages Co.                    01-10954       (22,836.06)                -                -           (22,836.06)
AMCV Cruise Operations, Inc.                    01-10967        (2,330.40)                -                -            (2,330.40)
Great AQ Steamboat, L.L.C.                      01-10960           919.60                 -                -               919.60
Great Pacific NW Cruise Line, L.L.C.            01-10977           339.49                 -                -               339.49
Great River Cruise Line, L.L.C.                 01-10963           367.05                 -                -               367.05
Great Ocean Cruise Line, L.L.C.                 01-10959           877.52                 -                -               877.52
Cape Cod Light, L.L.C.                          01-10962            82.74                 -                -                82.74
Cape May Light, L.L.C.                          01-10961            82.74                 -                -                82.74
                                                               -------------------------------------------------------------------
                                                               (22,497.32)                -                -           (22,497.32)
                                                               ===================================================================




                                  DQSB II, Inc.
                                 01-10974 (JWV)




                            Accounts Receivable Aging
                             As of December 31, 2002







                                  Attachment 7


                                 Not Applicable



                                  DQSB II, Inc.
                                 01-10974 (JWV)




                             Accounts Payable Detail
                             As of December 31, 2002







                                  Attachment 8


                                 Not Applicable



DEBTOR:  DQSB II, INC.                              CASE NUMBER:  01-10974 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 30, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

                                  ATTACHMENT 9
                   NOTES TO DECEMBER MONTHLY OPERATING REPORT


The information contained herein is unaudited.

Liabilities included in these financial statements reflect amounts known by the
Company to have been incurred. The Company has listed in prior filings with the
United States Trustee potential additional claims it believes may be asserted
against the Company.

To the best of the Debtor's knowledge and belief, based on currently available
information, all Federal income and payroll taxes due and owing have been paid.


1.       Other long-term liabilities had consisted of deferred tax assets and
         liabilities, net. Deferred tax assets and liabilities had been
         recognized for the expected future tax consequences of temporary
         differences between carrying amounts and the tax basis of assets and
         liabilities. The Debtor adjusted the recorded amounts to zero based
         upon the expected outcome of Chapter 11 proceedings.

EX-99.18

                                                                   EXHIBIT 99.18


DEBTOR:  GREAT HAWAIIAN CRUISE LINE, INC.           CASE NUMBER:  01-10975 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

In accordance with title 28, section 1746, of the United States Code, I declare
under penalty of perjury that I have examined the attached December Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.





/s/ EDDIE J. PUSTIZZI
- ---------------------
Eddie J. Pustizzi
Director, Accounting


DEBTOR:  GREAT HAWAIIAN CRUISE LINE, INC.          CASE NUMBER:  01-10975 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED


                                    CONTENTS


Attachment 1               Summary of Bank and Investment Accounts

Attachment 2               Schedule of Receipts and Disbursements

Attachment 3               Bank and Investment Account Statements

Attachment 4               Income Statement

Attachment 5               Balance Sheet

Attachment 6               Summary of Due To/Due From Intercompany Accounts

Attachment 7               Accounts Receivable Aging

Attachment 8               Accounts Payable Detail

Attachment 9               Notes to December Monthly Operating Report






                                                                                  
                                    Summary Of Bank And Investment Accounts             Attachment 1
                                        Great Hawaiian Cruise Line, Inc.
Summary                                     Case No: 01-10975 (JWV)                     UNAUDITED
Great Hawaiian Cruise Line, Inc.          For Month Of December, 2002




                                             Balances
                                --------------------------------        Receipts &        Bank
                                     Opening           Closing          Disbursements     Statements    Account
Account                         As Of 12/01/02    As Of 12/31/02        Included          Included      Reconciled
- -------                         --------------    --------------        --------          --------      ----------
                                                                                         
No Bank Or Investment                  NA                NA                  NA               NA            NA
Accounts





                                                                     
                                        Receipts & Disbursements           Attachment 2
                                      Great Hawaiian Cruise Line, Inc.
Summary                             Case No: 01-10975 (JWV)
Great Hawaiian Properties Corp.         For Month Of December, 2002
Attach 2




       No Receipts Or Disbursements Due To No Bank Or Investment Accounts


                                                                                    
                                      Concentration & Investment Account Statements       Attachment 3
                                             Great Hawaiian Cruise Line, Inc.
Summary                                          Case No: 01-10975 (JWV)
Great Hawaiian Cruise Line, Inc.                For Month Of December, 2002
Attach 3




          No Statements Due To No Concentration Or Investment Accounts



AMCV US SET OF BOOKS                                 Date: 16-JAN-03 16:01:31
INCOME STATEMENT - ATTACHMENT 4                      Page:   1
Current Period: DEC-02

currency USD
Company=50 (GREAT HAWAII CRUISE LN)




                                                       PTD-Actual
                                                       31-Dec-02
                                                    ----------------
                                                 
Revenue
Gross Revenue                                                   0.00
Allowances                                                      0.00
                                                    -----------------
Net Revenue                                                     0.00

Operating Expenses
Air                                                             0.00
Hotel                                                           0.00
Commissions                                                     0.00
Onboard Expenses                                                0.00
Passenger Expenses                                              0.00
Vessel Expenses                                                 0.00
Layup/Drydock Expense                                           0.00
Vessel Insurance                                                0.00
                                                    ----------------
Total Operating Expenses                                        0.00

                                                    ----------------
Gross Profit                                                    0.00

SG&A Expenses
Sales & Marketing                                               0.00
Start-Up Costs                                                  0.00
                                                    ----------------
Total SG&A Expenses                                             0.00

                                                    ----------------
EBITDA                                                          0.00

Depreciation                                                    0.00

                                                    ----------------
Operating Income                                                0.00

Other Expense/(Income)
Interest Income                                                 0.00
Equity in Earnings for Sub                            (13,000,809.98)
Reorganization expenses                                         0.00
                                                    ----------------
Total Other Expense/(Income)                           13,000,809.98

                                                    ----------------
Net Pretax Income/(Loss)                              (13,000,809.98)

Income Tax Expense                                      1,816,230.95

                                                    ----------------
Net Income/(Loss)                                     (14,817,040.93)
                                                    ================




AMCV US SET OF BOOKS                                    Date: 20-JAN-03 12:59:24
BALANCE SHEET - ATTACHMENT 5                            Page:   1
Current Period: DEC-02

currency USD
Company=50 (GREAT HAWAII CRUISE LN)


                                               YTD-Actual                       YTD-Actual
                                               31-Dec-02                        22-Oct-01
                                             ----------------                ----------------
                                                                       
ASSETS

Cash and Equivalent                                      0.00                            0.00

Restricted Cash                                          0.00                            0.00

Accounts Receivable                                      0.00                            0.00

Inventories                                              0.00                            0.00

Prepaid Expenses                                         0.00                            0.00

Other Current Assets                                     0.00                            0.00

                                             ----------------                ----------------
Total Current Assets                                     0.00                            0.00


Fixed Assets                                             0.00                            0.00

Accumulated Depreciation                                 0.00                            0.00

                                             ----------------                ----------------
Net Fixed Assets                                         0.00                            0.00


Net Goodwill                                             0.00                            0.00

Intercompany Due To/From                       (24,595,692.37)                 (24,608,201.70)

Net Deferred Financing Fees                              0.00                            0.00

Net Investment in Subsidiaries                 (27,893,157.82)                  41,532,108.18

                                             ----------------                ----------------
Total Other Assets                             (52,488,850.19)                  16,923,906.48

                                             ----------------                ----------------
Total Assets                                   (52,488,850.19)                  16,923,906.48
                                             ================                ================





AMCV US SET OF BOOKS                                   Date: 20-JAN-03 12:59:24
BALANCE SHEET - ATTACHMENT 5                           Page:   2
Current Period: DEC-02

currency USD
Company=50 (GREAT HAWAII CRUISE LN)


                                                         YTD-Actual                     YTD-Actual
                                                         31-Dec-02                      22-Oct-01
                                                     ------------------            -------------------
                                                                             
LIABILITIES

Accounts Payable                                                   0.00                           0.00

Accrued Liabilities                                                0.00                           0.00

Deposits                                                           0.00                           0.00

                                                     ------------------            -------------------
Total Current Liabilities                                          0.00                           0.00


Long Term Debt                                                     0.00                           0.00

Other Long Term Liabilities                                        0.00                  (1,816,230.95)

                                                     ------------------            -------------------
Total Liabilities                                                  0.00                  (1,816,230.95)


Liabilities Subject to Compromise                                  0.00                           0.00


OWNER'S EQUITY

Common Stock                                                   8,440.25                       8,440.25

Add'l Paid In Capital                                     76,531,536.87                  76,531,536.87

Current Net Income (Loss)                                (72,100,230.78)                (11,777,334.92)

Retained Earnings                                        (56,928,596.53)                (46,022,504.77)

                                                     ------------------            -------------------
Total Owner's Equity                                     (52,488,850.19)                 18,740,137.43

                                                     ------------------            -------------------
Total Liabilities & Equity                               (52,488,850.19)                 16,923,906.48
                                                     ==================            ===================



Great Hawaiian Cruise Line, Inc.      ATTACHMENT 6                01-10975(JWV)
                      Summary List of Due To/Due From Accounts
                        For the Month Ended December 31, 2002




                                              CASE           BEGINNING                                                  ENDING
AFFILIATE NAME                                NUMBER           BALANCE             DEBITS               CREDITS         BALANCE
                                                                                                           
American Classic Voyages Co.                 01-10954      (3,571,229.75)                --                 --      (3,571,229.75)
AMCV Holdings, Inc.                          01-10973        (234,317.82)      2,105,887.05                 --       1,871,569.23
AMCV Cruise Operations, Inc.                 01-10967          22,292.97                 --                 --          22,292.97
The Delta Queen Steamboat Co.                01-10970           7,057.02                 --                 --           7,057.02
Great River Cruise Line, L.L.C               01-10963              60.73                 --                 --              60.73
Great Ocean Cruise Line, L.L.C               01-10959          37,394.43                 --                 --          37,394.43
Cape May Light, L.L.C                        01-10961           8,411.75                 --                 --           8,411.75
Oceanic Ship Co.                             N/A               (1,803.12)                --                 --          (1,803.12)
Great Hawaiian Properties Corporation        01-10971       3,598,535.73                 --                 --       3,598,535.73
American Hawaii Properties Corporation       01-10976        (179,633.39)                --                 --        (179,633.39)
Great Independence Ship Co.                  01-10969     (24,282,460.92)                --                 --     (24,282,460.92)
CAT II, Inc.                                 01-10968                 --                 --       2,105,887.05      (2,105,887.05)
                                                         ------------------------------------------------------------------------
                                                          (24,595,692.37)      2,105,887.05       2,105,887.05     (24,595,692.37)
                                                         =========================================================================


                         Great Hawaiian Cruise Line, LLC
                                 01-10975 (JWV)




                            Accounts Receivable Aging
                             As of December 31, 2002







                                  Attachment 7


                                 Not Applicable





                         Great Hawaiian Cruise Line, LLC
                                 01-10975 (JWV)




                             Accounts Payable Detail
                             As of December 31, 2002







                                  Attachment 8


                                 Not Applicable





DEBTOR:  GREAT HAWAIIAN CRUISE LINE, LLC           CASE NUMBER:  01-10975 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 30, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

                                  ATTACHMENT 9
                   NOTES TO DECEMBER MONTHLY OPERATING REPORT


The information contained herein is unaudited.

Liabilities included in these financial statements reflect amounts known by the
Company to have been incurred. The Company has listed in prior filings with the
United States Trustee potential additional claims it believes may be asserted
against the Company.

To the best of the Debtor's knowledge and belief, based on currently available
information, all Federal income and payroll taxes due and owing have been paid.


1.       Other long-term liabilities had consisted of deferred tax assets and
         liabilities, net. Deferred tax assets and liabilities had been
         recognized for the expected future tax consequences of temporary
         differences between carrying amounts and the tax basis of assets and
         liabilities. The Debtor adjusted the recorded amounts to zero based
         upon the expected outcome of Chapter 11 proceedings.

EX-99.19

                                                                   EXHIBIT 99.19

DEBTOR:  AMERICAN HAWAII PROPERTIES CORPORATION     CASE NUMBER:  01-10976 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED








In accordance with title 28, section 1746, of the United States Code, I declare
under penalty of perjury that American Hawaii Properties Corporation was
inactive for the above referenced period and, to the best of my knowledge, the
foregoing is true and correct.





/s/ EDDIE J. PUSTIZZI
- ----------------------
Eddie J. Pustizzi
Director, Accounting

EX-99.20

                                                                   EXHIBIT 99.20

DEBTOR:  GREAT PACIFIC NW CRUISE LINE, L.L.C.       CASE NUMBER:  01-10977 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED








In accordance with title 28, section 1746, of the United States Code, I declare
under penalty of perjury that I have examined the attached December Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.





/s/ EDDIE J. PUSTIZZI
- ----------------------
Eddie J. Pustizzi
Director, Accounting



DEBTOR:  GREAT PACIFIC NW CRUISE LINE, L.L.C.       CASE NUMBER:  01-10977 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED


                                    CONTENTS


Attachment 1               Summary of Bank and Investment Accounts

Attachment 2               Schedule of Receipts and Disbursements

Attachment 3               Bank and Investment Account Statements

Attachment 4               Income Statement

Attachment 5               Balance Sheet

Attachment 6               Summary of Due To/Due From Intercompany Accounts

Attachment 7               Accounts Receivable Aging

Attachment 8               Accounts Payable Detail

Attachment 9               Notes to December Monthly Operating Report




                                                                                                        
                                      Summary Of Bank, Investment &
                                           Petty Cash Accounts                                                Attachment 1
                                  Great Pacific NW Cruise Line, L.L.C.
Summary                                  Case No: 01-10977 (JWV)                                              UNAUDITED
Great Pacific NW Cruise Line, LLC      For Month Of December, 2002





                                               Balances
                                   ---------------------------------     Receipts &            Bank
                                        Opening            Closing       Disbursements         Statements     Account
Account                            As Of 12/01/02     As Of 12/31/02     Included              Included       Reconciled
- -------                            --------------     --------------     --------              --------       ----------
                                                                                               
Great Pacific NW Cruise Line                0.00              0.00       No -                  No -           No -
Payroll                                                                  Account               Account        Account
U.S. Bank                                                                Closed                Closed         Closed
Account # - 153390417191

Great Pacific NW Cruise Line                0.00              0.00       No -                  No -           No -
Steamer                                                                  Account               Account        Account
U.S. Bank                                                                Closed                Closed         Closed
Account # - 153390417191

Great Pacific NW Cruise Line                0.00              0.00       No -                  No - Not       No -
Columbia Queen Petty Cash                                                No Activity           Concentration  No Activity
                                                                                               Account




                                                                              
                                             Receipts & Disbursements               Attachment 2
                                     Great Pacific NW Cruise Line, L.L.C.
Summary                                     Case No: 01-10977 (JWV)
Great Pacific NW Cruise Line, LLC         For Month Of December, 2002
Attach 2



             No Receipts Or Disbursements Due To All Accounts Closed



                                                                                                 
                                       Concentration & Investment Account Statements                   Attachment 3
                                           Great Pacific NW Cruise Line, L.L.C.
Summary                                          Case No: 01-10977 (JWV)
Great Pacific NW Cruise Line, LLC             For Month Of December, 2002
Attach 3



          No Statements Due To No Concentration Or Investment Accounts



AMCV US SET OF BOOKS                              Date: 16-JAN-03 16:50:20
INCOME STATEMENT - ATTACHMENT 4                   Page:   1
Current Period: DEC-02

currency USD
Company=24 (COLUMBIA QUEEN)
                                                     PTD-Actual
                                                      31-Dec-02
                                                   ---------------
Revenue
Gross Revenue                                                  0.00
Allowances                                                     0.00
                                                  ------------------
Net Revenue                                                    0.00

Operating Expenses
Air                                                            0.00
Hotel                                                          0.00
Commissions                                                    0.00
Onboard Expenses                                               0.00
Passenger Expenses                                             0.00
Vessel Expenses                                                0.00
Layup/Drydock Expense                                          0.00
Vessel Insurance                                           2,966.86
                                                  ------------------
Total Operating Expenses                                   2,966.86

                                                  ------------------
Gross Profit                                              (2,966.86)

SG&A Expenses
Sales & Marketing                                              0.00
Start-Up Costs                                                 0.00
                                                  ------------------
Total SG&A Expenses                                            0.00

                                                  ------------------
EBITDA                                                    (2,966.86)

Depreciation                                                   0.00

                                                  ------------------
Operating Income                                          (2,966.86)

Other Expense/(Income)
Interest Income                                                0.00
Equity in Earnings for Sub                                     0.00
Reorganization expenses                                3,500,000.00
Other expense                                               (235.00)
                                                  ------------------
Total Other Expense/(Income)                           3,499,765.00

                                                  ------------------
Net Pretax Income/(Loss)                              (3,502,731.86)

Income Tax Expense                                             0.00

                                                  ------------------
Net Income/(Loss)                                     (3,502,731.86)
                                                  ==================




AMCV US SET OF BOOKS                                    Date: 20-JAN-03 12:59:31
BALANCE SHEET - ATTACHMENT 5                            Page:   1
Current Period: DEC-02

currency USD
Company=24 (COLUMBIA QUEEN)



                                                   YTD-Actual                     YTD-Actual
                                                    31-Dec-02                      22-Oct-01
                                                 ---------------                 ------------
                                                                           
ASSETS

Cash and Equivalent                                        0.00                      31,623.21

Restricted Cash                                            0.00                           0.00

Accounts Receivable                                        0.00                      11,425.61

Inventories                                                0.00                     199,562.38

Prepaid Expenses                                           0.00                       2,800.00

Other Current Assets                                       0.00                           0.00

                                                  --------------                 --------------
Total Current Assets                                       0.00                     245,411.20


Fixed Assets                                               0.00                  45,093,524.95

Accumulated Depreciation                                   0.00                  (1,870,234.50)

                                                  --------------                 --------------
Net Fixed Assets                                           0.00                  43,223,290.45


Net Goodwill                                               0.00                           0.00

Intercompany Due To/From                         (10,173,560.16)                 (9,983,225.62)

Net Deferred Financing Fees                                0.00                   2,545,011.02

Net Investment in Subsidiaries                             0.00                           0.00

Other Non Current Assets                           8,500,000.00                           0.00

                                                  --------------                 --------------
Total Other Assets                                (1,673,560.16)                 (7,438,214.60)

                                                  --------------                 --------------
Total Assets                                      (1,673,560.16)                 36,030,487.05
                                                  ==============                 ==============




AMCV US SET OF BOOKS                                    Date: 20-JAN-03 12:59:31
BALANCE SHEET - ATTACHMENT 5                            Page:   2
Current Period: DEC-02

currency USD
Company=24 (COLUMBIA QUEEN)



                                                 YTD-Actual                      YTD-Actual
                                                  31-Dec-02                      22-Oct-01
                                               ---------------                 ------------
                                                                       
LIABILITIES

Accounts Payable                                           0.00                         180.00

Accrued Liabilities                                        0.00                     331,444.68

Deposits                                                   0.00                           0.00

                                              ------------------             ------------------
Total Current Liabilities                                  0.00                     331,624.68


Long Term Debt                                             0.00                           0.00

Other Long Term Liabilities                                0.00                           0.00

                                              ------------------             ------------------
Total Liabilities                                          0.00                     331,624.68


Liabilities Subject to Compromise                 37,726,764.76                  37,792,814.64


OWNER'S EQUITY

Common Stock                                               0.00                           0.00

Add'l Paid In Capital                                      0.00                           0.00

Current Net Income (Loss)                        (37,215,419.11)                     18,578.51

Retained Earnings                                 (2,184,905.81)                 (2,112,530.78)

                                              ------------------             ------------------
Total Owner's Equity                             (39,400,324.92)                 (2,093,952.27)

                                              ------------------             ------------------
Total Liabilities & Equity                        (1,673,560.16)                 36,030,487.05
                                              ==================             ==================






                                                                                                      
Great Pacific NW Cruise Line, LLC                           ATTACHMENT 6                                 01-10977 (JWV)
                                             Summary List of Due To/Due From Accounts
                                              For the Months Ended December 31, 2002





                                             CASE             BEGINNING                                             ENDING
AFFILIATE NAME                               NUMBER            BALANCE            DEBITS        CREDITS             BALANCE
                                                                                                 
American Classic Voyages Co.                 01-10954        15,472,508.20             -                -        15,472,508.20
AMCV Cruise Operations, Inc.                 01-10967        (9,434,276.58)            -                -        (9,434,276.58)
The Delta Queen Steamboat Co.                01-10970         8,349,046.78             -         2,966.86         8,346,079.92
DQSB II, Inc.                                01-10974              (339.49)            -                -              (339.49)
Great AQ Steamboat, L.L.C.                   01-10960            (5,552.79)            -                -            (5,552.79)
Great River Cruise Line, L.L.C.              01-10963            (4,812.08)            -                -            (4,812.08)
Great Ocean Cruise Line, L.L.C.              01-10959           (10,219.55)            -                -           (10,219.55)
Cruise America Travel, Incorporated          01-10966          (674,733.24)            -                -          (674,733.24)
Delta Queen Coastal Voyages, L.L.C.          01-10964           118,887.26             -                -           118,887.26
Cape May Light, L.L.C.                       01-10961             5,380.67             -                -             5,380.67
Project America, Inc.                        N/A                (27,500.00)            -                -           (27,500.00)
Oceanic Ship Co.                             N/A                  1,701.33             -                -             1,701.33
Project America Ship I, Inc.                 N/A                291,567.65             -                -           291,567.65
Ocean Development Co.                        01-10972       (24,185,738.20)            -                -       (24,185,738.20)
Great Hawaiian Properties Corporation        01-10971           (66,513.26)            -                -           (66,513.26)
                                                          ---------------------------------------------------------------------
                                                            (10,170,593.30)            -         2,966.86       (10,173,560.16)
                                                          =====================================================================




                      Great Pacific NW Cruise Line, L.L.C.
                                 01-10977 (JWV)




                            Accounts Receivable Aging
                             As of December 31, 2002







                                  Attachment 7


                                 Not Applicable



                      Great Pacific NW Cruise Line, L.L.C.
                                 01-10977 (JWV)




                             Accounts Payable Detail
                             As of December 31, 2002







                                  Attachment 8


                                 Not Applicable



DEBTOR:  GREAT PACIFIC NW CRUISE LINE, L.L.C.       CASE NUMBER:  01-10977 (JWV)

                            MONTHLY OPERATING REPORT
                             AS OF DECEMBER 30, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

                                  ATTACHMENT 9
                   NOTES TO DECEMBER MONTHLY OPERATING REPORT


The information contained herein is unaudited.

Liabilities included in these financial statements reflect amounts known by the
Company to have been incurred. The Company has listed in prior filings with the
United States Trustee potential additional claims it believes may be asserted
against the Company.

To the best of the Debtor's knowledge and belief, based on currently available
information, all Federal income and payroll taxes due and owing have been paid.


1.       The Debtor had previously forfeited to the Maritime Administration
         ("Marad"), the secured creditor, its primary asset, the Columbia Queen.
         During December, the Debtor wrote-down the amount deemed allocable to
         the secured debt for the expectant sale by Marad in accordance with the
         Revised Stipulation with Marad.