Exhibit 1


May 16, 2002


Heller Financial, Inc.
500 West Monroe
Chicago, Illinois 60661


Ladies and Gentlemen:

Pursuant  to  Rule  12b-25  of the  General  Rules  and  Regulations  under  the
Securities  Exchange  Act of 1934,  we inform you that we have been  furnished a
copy of Form 12b-25, to be filed by Heller  Financial,  Inc. on or about May 16,
2002, which contains notification of the registrant's inability to file its Form
10-Q by May 15, 2002.  We have read the Company's  statements  contained in Part
III therein  and we agree with the stated  reasons as to why we have been unable
to  complete  our review  procedures  on the  Company's  consolidated  financial
statements for the quarter ended March 31, 2002.



Very truly yours,



//KPMG, LLP

Chicago, IL