SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Expires: December 31, 2014 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* PPM AMERICA INC/IL (Last) (First) (Middle) (Street) (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol ELDER BEERMAN STORES CORP [ EBSC ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) X Other (specify below) Member of Section 13(d) Group
	3. Date of Earliest Transaction (Month/Day/Year) 05/23/2002
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common stock, no par value per share(1)	05/16/2003		S		38,812(2)	D	4.883	1,192,432	D
Common stock, no par value per share	05/16/2003		S		23,188(3)	D	4.883	712,436	D
Common stock, no par value per share	05/19/2003		S		4,382(4)	D	4.8796	1,188,050	D
Common stock, no par value per share	05/19/2003		S		2,618(5)	D	4.8796	709,818	D
Common stock, no par value per share	05/20/2003		S		626(6)	D	4.75	1,187,424	D
Common stock, no par value per share	05/20/2003		S		374(7)	D	4.75	709,444	D
Common stock, no par value per share	05/21/2003		S		10,955(8)	D	4.7555	1,176,469	D
Common stock, no par value per share	05/21/2003		S		6,545(9)	D	4.7555	702,899	D
Common stock, no par value per share	05/22/2003		S		47,012(1)(10)	D	5.0026	1,129,457	D
Common stock, no par value per share	05/22/2003		S		28,088(1)(11)	D	5.0026	674,811	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. PPM America, Inc. ("PPM America"), performs investment advisory services for clients. PPM America serves as investment manager/advisor to each of PPM America Special Investments Fund, L.P. ("SIF I"), and PPM America Special Investments CBO II, L.P. ("CBO II"). Both SIF I and CBO II are investment funds. PPM America Fund Management GP, Inc. ("SIF I GP"), serves as the general partner of SIF I. PPM America CBO II Management Company ("CBO II GP") serves as the general partner of CBO II. This Form 4 has been executed by Stuart J. Lissner in his capacity as: (A) Managing Director of PPM America, Inc.; (B) Vice President of PPM America Fund Management GP, Inc., as Managing General Partner of PPM America Special Investments Fund, L.P.; (C) Vice President of PPM America Fund Management GP, Inc.; (D) Vice President of PPM MGP (Bermuda), Ltd., as Managing General Partner of PPM America CBO II Management Company, the General Partner of PPM America Special Investments CBO II, L.P.; and (E) Vice President of PPM MGP (Bermuda), Ltd., as Managing General Partner of PPM America CBO II Management Company. All of the securities covered by this report are owned legally by SIF I or CBO II, and none are owned directly or indirectly by PPM America, SIF I GP or CBO II GP. PPM America, SIF I GP and CBO II GP disclaim beneficial ownership of any of the securities covered by this report, and this report shall not be deemed an admission that PPM America, SIF I GP or CBO II GP is the beneficial owner of the securities for the purposes of Section 16 or for any other purpose.

2. Transaction effected by SIF I.

3. Transaction effected by CBO II.

4. Transaction effected by SIF I.

5. Transaction effected by CBO II.

6. Transaction effected by SIF I.

7. Transaction effected by CBO II.

8. Transaction effected by SIF I.

9. Transaction effected by CBO II.

10. Transaction effected by SIF I.

11. Transaction effected by CBO II.

	Stuart J. Lissner (see footnote 1)	05/23/2003
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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