8-K

                    U.S. 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):  November 17, 2000



                       KAISER GROUP INTERNATIONAL, INC.
            (Exact name of registrant as specified in its charter)


     Delaware                 File No. 1-12248                  54-1437073
 (State or other              (Commission File                (IRS Employer
 jurisdiction of                   Number)                  Identification No.)
 incorporation)


                               9300 Lee Highway
                         Fairfax, Virginia  22031-1207
         (Address of principal executive offices, including zip code)


                                 703-934-3300
             (Registrant's telephone number, including area code)


Item 5.    Other events
           ------------

  In a press release dated November 17, 2000, Kaiser Group International, Inc.
announced that its subsidiary, Kaiser Government Programs, Inc., had completed
an exchange offer to  recordholders, as of August 14, 2000, of Kaiser Group
International, Inc.'s senior subordinated notes due 2003.  A copy of this one-
page press release is attached to this Report on Form 8-K as Exhibit 99(a).


Item 7.    Financial Statements and Exhibits
           ---------------------------------

Exhibit 99(a) - Press Release



                                   SIGNATURES

  Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report on Form 8-K to be signed on its behalf by
the undersigned hereunto duly authorized.


                                  KAISER GROUP INTERNATIONAL, INC.
                                           (Registrant)


                                    /s/ Timothy P. O'Connor
                                  -------------------------
                                  Timothy P. O'Connor
                                  Executive Vice President,
                                  Chief Financial Officer
                                  and Chief Administrative Officer



Date:  November 21, 2000

EX-99.A

                                                                   Exhibit 99(a)

FOR IMMEDIATE RELEASE                            Press Contact:  Marijo Ahlgrimm
                                                                    703/934-3995
                                             Investor Contact:  Nicholas Burakow
                                                                    703/934-3665


SUBSIDIARY OF KAISER GROUP INTERNATIONAL ANNOUNCES COMPLETION OF EXCHANGE OFFER


FAIRFAX, VA, November 17, 2000  Kaiser Group International, Inc. (OTCBB:  KSRG)
announced today that its subsidiary, Kaiser Government Programs, Inc. (KGP), has
completed an exchange offer to  recordholders, as of August 14, 2000, of Kaiser
Group International, Inc.'s senior subordinated notes due 2003.  Such holders
were offered an opportunity to surrender their rights under a guarantee of their
notes previously issued by KGP in exchange for the right to cause KGP to
repurchase shares of preferred stock that will be issued to them pursuant to the
Plan of Reorganization of Kaiser Group International, Inc. if KGP receives
certain proceeds from Kaiser-Hill Company, LLC (KGP put rights).  The holders of
approximately 99.4% of the principal amount of the notes  accepted the exchange
offer.  Certificates representing the KGP put rights will be distributed in
connection with the initial distribution made by Kaiser Group International,
Inc. under its Plan of Reorganization.  Until certificates representing the KGP
put rights are distributed, the KGP put rights will trade together with the
notes as a single unit.  Accordingly, if a noteholder who participated in the
exchange offer elects to trade its notes, the noteholder's right to receive the
Put Right Certificate will transfer together with the sold notes.  However,
after certificates for the KGP put rights have been distributed, the KGP put
rights will trade as a security separate from the notes and under their own
CUSIP number.