IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION

CASE NAME:	ALLIED PRODUCTS CORPORATION	CASE NO.:         00 B 28798
	SUMMARY OF CASH RECEIPTS AND CASH DISBURSEMENTS(1)
	FOR MONTH ENDING May 31, 2003

BEGINNING BALANCE IN ALL ACCOUNTS	$	14,111,501
RECEIPTS:
1. Receipts from operations	$	—
2. Other Receipts	$	13,928
3. Preference Claims Receipts	$	45,000
4. Sale Of Assets	$	—
5. Receipt Of Escrow	$	—
6. Daimler Chrysler Motor Corp	$	1,900,000
DISBURSEMENTS:
3. Net payroll:
a. Officers	$	24,900
b. Others	$	3,451
4. Taxes
a. Federal Income Taxes	$	9,385
b. FICA withholdings	$	3,233
c. Employee's withholdings(2)	$	—
d. Employer's FICA	$	3,233
e. Federal Unemployment Taxes
f. State Unemployment Taxes	$	105
g. State Employee withholdings	$	1,178
h. All other taxes	$	—
5. Necessary expenses:
a. Rent or mortgage payments (s)	$	1,750
b. Utilities	$	—
c. Insurance	$	4,939
d. Merchandise bought for manufacture or sale	$	—
e. Other necessary expenses
Foothill Secured Loan	$	—
Asset Sale Related Expenses	$	—
Union Closure Agreement	$	—
Professional/Trustee Fees	$	5,374
All Other Disbursements	$	32,162
TOTAL DISBURSEMENTS	$	89,710

NET RECEIPTS (DISBURSEMENTS) FOR THE CURRENT PERIOD			$	1,869,218
ENDING BALANCE IN LASALLE BANK N.A., ALLIED PRODUCTS D.I.P. CASE #00B28798			$	15,980,721
OPERATING ACCOUNT: 5800272592
ENDING BALANCE IN LASALLE BANK N.A., ALLIED PRODUCTS D.I.P. CASE #00B28798			$	—
PAYROLL ACCOUNT: 5800272618
ENDING BALANCE IN LASALLE BANK N.A., ALLIED PRODUCTS D.I.P. CASE #00B28798			$	—
DANNEN CRANE HEYMAN SIMON SPECIAL ACCOUNT ALLIED: 8601721825
ENDING BALANCE IN LASALLE BANK N.A., ALLIED PRODUCTS D.I.P. CASE #00B28798			$	—
ACCOUNTS PAYABLE DISBURSEMENTS: 5800272600
ENDING BALANCE IN LASALLE BANK N.A., VERSON CORPORATION
PAYROLL ACCOUNT: 5800026501			$	—
ENDING BALANCE IN ALL ACCOUNTS	$	15,980,721

(1) All information reflects cash activity per Company accounting records

(2) Includes wage garnishments

1

CASE NAME:	ALLIED PRODUCTS CORPORATION		CASE NO.:          00 B 28798
		RECEIPTS LISTING
	FOR MONTH ENDING May 31, 2003
Summary of Company Receipts for the period of May 1, 2003 through May 31, 2003 (1)

DATE RECEIVED	DESCRIPTION	AMOUNT
None	General Motors	$	—
None	Chrysler Progress Payments	—
None	Chrysler Holdbacks	1,900,000
None	Chrysler Repairs	—
None	Misc. Holdbacks & Acceptances	—
None	Verson Std. Products	—
Various	Preference Payments	45,000
None	Receipt of Escrow	—
None	Note Receivable	—
	Additional Receipts	—
Various	Employee Related/COBRA Receipts-Foothill	—
Various	Operational Receipts	—
Various	Sales Of Assets	—
Various	Other Receipts	13,928
Various	GM Funding	—
	Total  Receipts	$		1,958,928

(1)  Please see attached pages for the detail of disbursements by Company bank account

2

CASE NAME:	ALLIED PRODUCTS CORPORATION		CASE NO.:        00 B 28798
		RECEIPTS LISTING
FOR MONTH ENDING May 31, 2003
Bank:	LASALLE BANK N.A.
Location:	135 SOUTH LASALLE STREET, CHICAGO, IL 60603
Account Name:	ALLIED PRODUCTS D.I.P. CASE #00B28798: OPERATING ACCOUNT
Account No.:	5800272592

DATE RECEIVED	DESCRIPTION	AMOUNT
None	General Motors	$	—
None	Chrysler Progress Payments	—
None	Chrysler Holdbacks	1,900,000
None	Chrysler Repairs	—
None	Misc. Holdbacks & Acceptances	—
None	Verson Std. Products	—
Various	Preference Payment	45,000
None	Receipt of Escrow	—
None	Note Receivable	—
Various	Additional Receipts	—
Various	Employee Related/COBRA Receipts-Foothill	—
Various	Operational Receipts	—
Various	Sales Of Assets	—
Various	Other Receipts	13,928
None	GM Funding	—
	Total  Receipts	$		1,958,928

Receipts may be identified by major categories.  It is not necessary to list each transaction separately by name of customer or invoice number.  You must, however, create a separate list for each bank account to which receipts were deposited during the month.

3

CASE NAME:	ALLIED PRODUCTS CORPORATION		CASE NO.:        00 B 28798
		RECEIPTS LISTING
FOR MONTH ENDING May 31, 2003
Bank:	LASALLE BANK N.A.
Location:	135 SOUTH LASALLE STREET, CHICAGO, IL 60603
Account Name:	ALLIED PRODUCTS D.I.P. CASE #00B28798: PAYROLL ACCOUNT
Account No.:	5800272618

DATE RECEIVED	DESCRIPTION	AMOUNT
None	General Motors	$	—
None	Chrysler Progress Payments	—
None	Chrysler Holdbacks	—
None	Chrysler Repairs	—
None	Misc. Holdbacks & Acceptances	—
None	Verson Std. Products	—
None	Corporate	—
None	Receipt of Escrow	—
None	Note Receivable	—
	Additional Receipts
None	Employee Related/COBRA Receipts-Foothill	—
None	Operational Receipts	—
None	Sales Of Assets	—
None	Other Receipts	—
None	GM Funding	—
	Total  Receipts	$		—

Receipts may be identified by major categories.  It is not necessary to list each transaction separately by name of customer or invoice number.  You must, however, create a separate list for each bank account to which receipts were deposited during the month.

4

CASE NAME:	ALLIED PRODUCTS CORPORATION		CASE NO.:      00 B 28798
		RECEIPTS LISTING
FOR MONTH ENDING May 31, 2003
Bank:	LASALLE BANK N.A.
Location:	135 SOUTH LASALLE STREET, CHICAGO, IL 60603
Account Name:	ALLIED PRODUCTS D.I.P. CASE #00B28798: ACCOUNTS PAYABLE ACCOUNT
Account No.:	5800272600

DATE RECEIVED	DESCRIPTION	AMOUNT
None	General Motors	$	—
None	Chrysler Progress Payments	—
None	Chrysler Holdbacks	—
None	Chrysler Repairs	—
None	Misc. Holdbacks & Acceptances	—
None	Verson Std. Products	—
None	Corporate	—
None	Receipt of Escrow	—
None	Note Receivable	—
	Additional Receipts
None	Employee Related/COBRA Receipts-Foothill	—
None	Operational Receipts	—
None	Sales Of Assets	—
None	Other Receipts	—
None	GM Funding	—
	Total  Receipts	$		—

Receipts may be identified by major categories.  It is not necessary to list each transaction separately by name of customer or invoice number.  You must, however, create a separate list for each bank account to which receipts were deposited during the month.

5

CASE NAME:	ALLIED PRODUCTS CORPORATION		CASE NO.:       00 B 28798
		RECEIPTS LISTING
FOR MONTH ENDING May 31, 2003
Bank:	LASALLE BANK N.A.
Location:	135 SOUTH LASALLE STREET, CHICAGO, IL 60603
Account Name:	VERSON CORPORATION PAYROLL ACCOUNT
Account No.:	5800026501

DATE RECEIVED	DESCRIPTION	AMOUNT
None	General Motors	$	—
None	Chrysler Progress Payments	—
None	Chrysler Holdbacks	—
None	Chrysler Repairs	—
None	Misc. Holdbacks & Acceptances	—
None	Verson Std. Products	—
None	Corporate	—
None	Receipt of Escrow	—
None	Note Receivable	—
	Additional Receipts
None	Operational Receipts	—
None	Operational Receipts-Foothill Account	—
None	Sales Of Assets	—
None	Other Receipts	—
None	GM Funding	—
	Total  Receipts	$		—

Receipts may be identified by major categories.  It is not necessary to list each transaction separately by name of customer or invoice number.  You must, however, create a separate list for each bank account to which receipts were deposited during the month.

6

CASE NAME:	ALLIED PRODUCTS CORPORATION		CASE NO.:         00 B 28798
		RECEIPTS LISTING
FOR MONTH ENDING May 31, 2003
Bank:	LASALLE BANK N.A.
Location:	135 SOUTH LASALLE STREET, CHICAGO, IL 60603
Account Name:	DANNEN CRANE HEYMAN SIMON SPECIAL ACCOUNT ALLIED
Account No.:	8601721825

DATE RECEIVED	DESCRIPTION	AMOUNT
None	General Motors	$	—
None	Chrysler Progress Payments	—
None	Chrysler Holdbacks	—
None	Chrysler Repairs	—
None	Misc. Holdbacks & Acceptances	—
None	Verson Std. Products	—
None	Corporate	—
None	Receipt of Escrow	—
None	Note Receivable	—
	Additional Receipts
None	Operational Receipts	—
None	Operational Receipts-Foothill Account	—
None	Sales Of Assets	—
Various	Other Receipts	—
None	GM Funding	—
	Total  Receipts	$		—

Receipts may be identified by major categories.  It is not necessary to list each transaction separately by name of customer or invoice number.  You must, however, create a separate list for each bank account to which receipts were deposited during the month.

7

CASE NAME:	ALLIED PRODUCTS CORPORATION	CASE NO.:           00 B 28798
	DISBURSEMENT LISTING
FOR MONTH ENDING May 31, 2003
Summary of Company Disbursements for the period of May 1, 2003 through May 31, 2003

DATE DISBURSED	CHECK/WIRE NO.		DESCRIPTION	AMOUNT
Various	Various		Salaries, Benefits & Insurance	$	50,424
None	None		Stay Bonus	—
None	None		Utilities	—
Various	Various		Rents & Leases	1,750
None	None		Remaining Man. Costs	—
None	None		Pre-Petition Vendor Payments	—
None	None		Real Estate Taxes	—
None	None		Asset Sale Related Expenses	—
None	None		Foothill Capital-Secured Loan	—
None	None		Union Closure Agreement	—
None	None		Parts Purchases	—
Various	Various		Professional/Trustee Fees	5,374
None	None		Foothill Principal Payments	—
None	None		Boeing Letter of Credit	—
None	None		Federal and State Income Taxes	—
None	None		Foothill Interest & Fees	—
Various	Various		All Other	32,162
		Total Disbursements		$	89,710

(1)  Please see attached pages for the detail of disbursements by Company bank account

8

CASE NAME:	ALLIED PRODUCTS CORPORATION	CASE NO.:            00 B 28798
	DISBURSEMENT LISTING
FOR MONTH ENDING May 31, 2003
Bank:	LASALLE BANK N.A.
Location:	135 SOUTH LASALLE STREET, CHICAGO, IL 60603
Account Name:	ALLIED PRODUCTS D.I.P. CASE #00B28798: OPERATING ACCOUNT
Account No.:	5800272592

DATE DISBURSED	CHECK/WIRE NO.		DESCRIPTION	AMOUNT
Various	Various		Salaries, Benefits & Insurance	$	50,424
None	None		Stay Bonus	—
None	None		Utilities	—
Various	Various		Rents & Leases	1,750
None	None		Remaining Man. Costs	—
None	None		Pre-Petition Vendor Payments	—
None	None		Real Estate Taxes	—
None	None		Asset Sale Related Expenses	—
None	None		Foothill Capital-Secured Loan	—
None	None		Union Closure Agreement	—
None	None		Parts Purchases	—
Various	Various		Professional/Trustee Fees	5,374
None	None		Foothill Principal Payments	—
None	None		Boeing Letter of Credit	—
None	None		Federal and State Income Taxes	—
None	None		Foothill Interest & Fees	—
Various	Various		All Other	32,162
		Total Disbursements		$	89,710

You must create a separate list for each bank account for which disbursements were made during the month.

9

CASE NAME:	ALLIED PRODUCTS CORPORATION	CASE NO.:           00 B 28798
	DISBURSEMENT LISTING
FOR MONTH ENDING May 31, 2003
Bank:	LASALLE BANK N.A.
Location:	135 SOUTH LASALLE STREET, CHICAGO, IL 60603
Account Name:	ALLIED PRODUCTS D.I.P. CASE #00B28798: PAYROLL ACCOUNT
Account No.:	5800272618

DATE DISBURSED	CHECK/WIRE NO.		DESCRIPTION	AMOUNT
None	None		Salaries, Benefits & Insurance	$	—
None	None		Stay Bonus	—
None	None		Utilities	—
None	None		Rents & Leases	—
None	None		Remaining Man. Costs	—
None	None		Pre-Petition Vendor Payments	—
None	None		Real Estate Taxes	—
None	None		Asset Sale Related Expenses	—
None	None		Foothill Capital-Secured Loan	—
None	None		Union Closure Agreement	—
None	None		Parts Purchases	—
None	None		Professional/Trustee Fees	—
None	None		Foothill Principal Payments	—
None	None		Boeing Letter of Credit	—
None	None		Foothill Interest & Fees	—
None	None		All Other	—
		Total Disbursements		$	—

You must create a separate list for each bank account for which disbursements were made during the month.

10

CASE NAME:	ALLIED PRODUCTS CORPORATION	CASE NO.:          00 B 28798
	DISBURSEMENT LISTING
FOR MONTH ENDING May 31, 2003
Bank:	LASALLE BANK N.A.
Location:	135 SOUTH LASALLE STREET, CHICAGO, IL 60603
Account Name:	ALLIED PRODUCTS D.I.P. CASE #00B28798: ACCOUNTS PAYABLE ACCOUNT
Account No.:	5800272600

DATE DISBURSED	CHECK/WIRE NO.		DESCRIPTION	AMOUNT
None	None		Salaries, Benefits & Insurance	$	—
None	None		Stay Bonus	—
None	None		Utilities	—
None	None		Rents & Leases	—
None	None		Remaining Man. Costs	—
None	None		Pre-Petition Vendor Payments	—
None	None		Real Estate Taxes	—
None	None		Asset Sale Related Expenses	—
None	None		Foothill Capital-Secured Loan	—
None	None		Union Closure Agreement	—
None	None		Parts Purchases	—
None	None		Professional/Trustee Fees	—
None	None		Foothill Principal Payments	—
None	None		Boeing Letter of Credit	—
None	None		Foothill Interest & Fees	—
None	None		All Other	—
		Total Disbursements		$	—

You must create a separate list for each bank account for which disbursements were made during the month.

11

CASE NAME:	ALLIED PRODUCTS CORPORATION	CASE NO.:          00 B 28798
	DISBURSEMENT LISTING
FOR MONTH ENDING May 31, 2003
Bank:	LASALLE BANK N.A.
Location:	135 SOUTH LASALLE STREET, CHICAGO, IL 60603
Account Name:	VERSON CORPORATION PAYROLL ACCOUNT
Account No.:	5800026501

DATE DISBURSED	CHECK/WIRE NO.		DESCRIPTION	AMOUNT
None	None		Salaries, Benefits & Insurance	$	—
None	None		Stay Bonus	—
None	None		Utilities	—
None	None		Rents & Leases	—
None	None		Remaining Man. Costs	—
None	None		Pre-Petition Vendor Payments	—
None	None		Real Estate Taxes	—
None	None		Asset Sale Related Expenses	—
None	None		Foothill Capital-Secured Loan	—
None	None		Union Closure Agreement	—
None	None		Parts Purchases	—
None	None		Professional/Trustee Fees	—
None	None		Foothill Principal Payments	—
None	None		Boeing Letter of Credit	—
None	None		Foothill Interest & Fees	—
None	None		All Other	—
		Total Disbursements		$	—

You must create a separate list for each bank account for which disbursements were made during the month.

12

CASE NAME:	ALLIED PRODUCTS CORPORATION	CASE NO.:          00 B 28798
	DISBURSEMENT LISTING
FOR MONTH ENDING May 31, 2003
Bank:	LASALLE BANK N.A.
Location:	135 SOUTH LASALLE STREET, CHICAGO, IL 60603
Account Name:	DANNEN CRANE HEYMAN SIMON SPECIAL ACCOUNT ALLIED
Account No.:	8610721825

DATE DISBURSED	CHECK/WIRE NO.		DESCRIPTION	AMOUNT
None	None		Salaries, Benefits & Insurance	$	—
None	None		Stay Bonus	—
None	None		Utilities	—
None	None		Rents & Leases	—
None	None		Remaining Man. Costs	—
None	None		Pre-Petition Vendor Payments	—
None	None		Real Estate Taxes	—
None	None		Asset Sale Related Expenses	—
None	None		Foothill Capital-Secured Loan	—
None	None		Union Closure Agreement	—
None	None		Parts Purchases	—
None	None		Professional/Trustee Fees	—
None	None		Foothill Principal Payments	—
None	None		Boeing Letter of Credit	—
None	None		Foothill Interest & Fees	—
None	None		All Other	—
		Total Disbursements		$	—

You must create a separate list for each bank account for which disbursements were made during the month.

13

CASE NAME:	ALLIED PRODUCTS CORPORATION	CASE NO.:        00 B 28798
FOR MONTH ENDING May 31, 2003

STATEMENT OF INVENTORY (PRE-PETITION AND POST-PETITION)
Beginning Inventory	$	—
Add: purchases	$	—
Less: goods sold (cost basis)	$	—
Ending Inventory	$	—
PAYROLL INFORMATION STATEMENT
Gross payroll for this period	$	45,603
Payroll taxes due but unpaid	$	—

STATUS OF PAYMENTS TO SECURED CREDITORS AND LESSORS

Name of Creditor/Lessor	Date regular payment is due	Amount of Regular Payment	Number of Payments Delinquent	Amounts of Payments Delinquent *
				$	—

* Include only post-petition payments

14

CASE NAME:	ALLIED PRODUCTS CORPORATION	CASE NO.:       00 B 28798
FOR MONTH ENDING May 31, 2003

STATEMENT OF AGED RECEIVABLES (PRE-PETITION AND POST-PETITION)
ACCOUNTS RECEIVABLE:
Beginning month balance	$	4,331,103
Add: sales on account	$	—
Less:  collections/adjustments(1)	$	(885,637	)
End of month balance	$	3,445,466

0-30 Days		31-60 Days		61-90 Days		Over 90 Days(1)		End of Month
$	—	$	—	$	—	$	3,445,466	$	3,445,466

STATEMENT OF ACCOUNTS PAYABLE (POST-PETITION)
Beginning of month balance	$	—
Add: credit extended	$	35,789
Less: payments of account	$	(35,789	)
End of month balance	—

0-30 Days		31-60 Days		61-90 Days		Over 90 Days		End of Month
$	—	$	—	$	—	$	—	$	—

ITEMIZE ALL POST-PETITION PAYABLES OVER 30 DAYS OLD ON A SEPARATE

SCHEDULE AND FILE WITH THIS REPORT

15

CASE NAME:	ALLIED PRODUCTS CORPORATION	CASE NO.:         00 B 28798
FOR MONTH ENDING May 31, 2003

TAX QUESTIONNAIRE

Debtors in possession and trustees are required to pay all taxes incurred after the filing of their Chapter 11 petition on an as due basis.  Please indicate whether the following post-petition taxes or withholdings have been paid currently.

1.	Federal Income Taxes	Yes	ý	No	o
2.	FICA withholdings	Yes	ý	No	o
3.	Employee's withholdings	Yes	ý	No	o
4.	Employer's FICA	Yes	ý	No	o
5.	Federal Unemployment Taxes	Yes	ý	No	o
6.	State Income Tax	Yes	ý	No	o
7.	State Employee withholdings	Yes	ý	No	o
8.	All other state taxes	Yes	ý	No	o

If any of the above have not been paid, state below the tax not paid, the amounts past due and the date of last payment.

16

(Rev. 06-97)

Department of the Treasury - Internal Revenue Service Verification of Fiduciary’s Federal Tax Deposit

Do not attach this notice to your Return

TO

District Director, Internal revenue Service Attn: Chief, Special Procedures Function

FROM:

Name of Taxpayer

Allied Products Corp

Taxpayer Address

1355 East 93rd Street Chicago, IL 60619

The following information is to notify you of Federal tax deposit (s) (FTD) as required by the United States Bankruptcy Court (complete sections 1 and/or 2 as appropriate):

Section 1 Taxes Reported on form 941, Employer’s Quarterly Federal Tax Return

Form 941 Federal Tax Deposit (FTD) Information

for the payroll period from

19-Apr-03

to

2-May-03

Payroll Date

2-May-03

Gross wages paid to employees

$

14,088

Income tax withheld

$

3,128

Social Security

Employer’s Soc. Sec.

$

873

Employee’s Soc. Sec

873

Employer’s Medicare

204

Employee’s Medicare

204

Soc. Sec & Medicare Total

$

2,156

Tax Deposited

$

5,284

Date Deposited

Wired To ADP 05/02/03

Section 2 Taxes Reported on form 940, Employer’s Annual Federal Unemployment Tax Return

Form 940 Federal Tax Deposit (FTD) Information

for the payroll period from              to

Gross wages paid to employees

$

—

Tax Deposited

$

—

Date Deposited

Certification

(Certification is limited to receipt or electronic transmittal of deposit only)

This certifies receipt or electronic transmittal of deposits described below for Federal taxes as defined in Circular E, Employer’s Tax Guide (Publication 15)

Deposit Method

o

Form 8109/8109B Federal Tax Deposit (FTD) coupon

(check box)

ý

Electronic Federal Payment System (EFTPS) Deposit

Amount (Form 941 Taxes)

Date of Deposit

EFTPS acknowledgement number or Form 8109 FTD received by:(1)

Wired To ADP 05/02/03

Amount (Form 940 Taxes)

Date of Deposit

EFTPS acknowledgement number or Form 8109 FTD received by:

Depositor’s Employer Identification Number:

Name and Address of Bank

Under penalties of perjury, I certify that the above federal tax deposit information is true and correct

Signed:

Date:

Name and Title (print or type)

Richard Drexler, Chairman, President, CEO and CFO

(1) Information is provided on a quarterly basis.

17

(Rev. 06-97)

Department of the Treasury - Internal Revenue Service Verification of Fiduciary’s Federal Tax Deposit

Do not attach this notice to your Return

TO

District Director, Internal revenue Service Attn: Chief, Special Procedures Function

FROM:

Name of Taxpayer

Allied Products Corp

Taxpayer Address

1355 East 93rd Street Chicago, IL 60619

The following information is to notify you of Federal tax deposit(s) (FTD) as required by the United States Bankruptcy Court (complete sections 1 and/or 2 as appropriate):

Section 1 Taxes Reported on form 941, Employer’s Quarterly Federal Tax Return

Form 941 Federal Tax Deposit (FTD) Information

for the payroll period from

3-May-03

to

16-May-03

Payroll Date

16-May-03

Gross wages paid to employees

$

14,088

Income tax withheld

$

3,128

Social Security

Employer’s Soc. Sec.

$

873

Employee’s Soc. Sec

873

Employer’s Medicare

204

Employee’s Medicare

204

Soc. Sec & Medicare Total

$

2,156

Tax Deposited

$

5,284

Date Deposited

Wired To ADP 05/16/03

Section 2 Taxes Reported on form 940, Employer’s Annual Federal Unemployment Tax Return

Form 940 Federal Tax Deposit (FTD) Information

for the payroll period from              to

Gross wages paid to employees

$

—

Tax Deposited

$

—

Date Deposited

Certification

(Certification is limited to receipt or electronic transmittal of deposit only)

This certifies receipt or electronic transmittal of deposits described below for Federal taxes as defined in Circular E, Employer’s Tax Guide (Publication 15)

Deposit Method

o

Form 8109/8109B Federal Tax Deposit (FTD) coupon

(check box)

ý

Electronic Federal Payment System (EFTPS) Deposit

Amount (Form 941 Taxes)

Date of Deposit

EFTPS acknowledgement number or Form 8109 FTD received by:(1)

Wired To ADP 05/16/03

Amount (Form 940 Taxes)

Date of Deposit

EFTPS acknowledgement number or Form 8109 FTD received by:

Depositor’s Employer Identification Number:

Name and Address of Bank

Under penalties of perjury, I certify that the above federal tax deposit information is true and correct

Signed:

Date:

Name and Title (print or type)

Richard Drexler, Chairman, President, CEO and CFO

(1) Information is provided on a quarterly basis.

18

(Rev. 06-97)

Department of the Treasury - Internal Revenue Service Verification of Fiduciary’s Federal Tax Deposit

Do not attach this notice to your Return

TO

District Director, Internal revenue Service Attn: Chief, Special Procedures Function

FROM:

Name of Taxpayer

Allied Products Corp

Taxpayer Address

1355 East 93rd Street Chicago, IL 60619

The following information is to notify you of Federal tax deposit(s) (FTD) as required by the United States Bankruptcy Court (complete sections 1 and/or 2 as appropriate):

Section 1 Taxes Reported on form 941, Employer’s Quarterly Federal Tax Return

Form 941 Federal Tax Deposit (FTD) Information

for the payroll period from

17-May-03

to

30-May-03

Payroll Date

30-May-03

Gross wages paid to employees

$

14,088

Income tax withheld

$

3,128

Social Security

Employer’s Soc. Sec.

$

873

Employee’s Soc. Sec

873

Employer’s Medicare

204

Employee’s Medicare

204

Soc. Sec & Medicare Total

$

2,156

Tax Deposited

$

5,284

Date Deposited

Wired To ADP 05/30/03

Section 2 Taxes Reported on form 940, Employer’s Annual Federal Unemployment Tax Return

Form 940 Federal Tax Deposit (FTD) Information

for the payroll period from              to

Gross wages paid to employees

$

—

Tax Deposited

$

—

Date Deposited

Certification

(Certification is limited to receipt or electronic transmittal of deposit only)

This certifies receipt or electronic transmittal of deposits described below for Federal taxes as defined in Circular E, Employer’s Tax Guide (Publication 15)

Deposit Method

o

Form 8109/8109B Federal Tax Deposit (FTD) coupon

(check box)

ý

Electronic Federal Payment System (EFTPS) Deposit

Amount (Form 941 Taxes)

Date of Deposit

EFTPS acknowledgement number or Form 8109 FTD received by:(1)

Wired To ADP 05/30/03

Amount (Form 940 Taxes)

Date of Deposit

EFTPS acknowledgement number or Form 8109 FTD received by:

Depositor’s Employer Identification Number:

Name and Address of Bank

Under penalties of perjury, I certify that the above federal tax deposit information is true and correct

Signed:

Date:

Name and Title (print or type)

Richard Drexler, Chairman, President, CEO and CFO

(1) Information is provided on a quarterly basis.

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DECLARATION UNDER PENALTY OF PERJURY

I, Richard Drexler, acting as the duly authorized agent for Debtor in Possession (Trustee) declare under penalty of perjury under the laws of the United States that I have read and I certify that the figures, statements, disbursement itemizations, and account balances as listed in this Monthly Report of the Debtor are true and correct as of the date of this report to the best of my knowledge, information and belief.

	For the Debtor In Possession (Trustee)
	Print or type name and capacity of person signing this Declaration:
	Richard A. Drexler
	Chairman, President, CEO and CFO
DATED:

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