8-K

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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 15, 2002

KAISER GROUP HOLDINGS, INC.
(successor issuer to Kaiser Group International, Inc.)
(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction of incorporation) File No. 1-12248
(Commission File Number) 54-2014870
(IRS Employer Identification No.)

9302 Lee Highway
Fairfax, Virginia 22031-1207
(Address of principal executive offices, including zip code)

703-934-3600
(Registrant's telephone number, including area code)

Item 5.    Other Events and Resolution FD Disclosure

        In a press release dated November 15, 2002, Kaiser Group Holdings, Inc. announced plans for a preferred stock redemption of its Series 1 Redeemable Cumulative Preferred Stock. Also announced was the election of Mr. Frank E. Williams, Jr. as a fourth member of its Board of Directors. 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

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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 HOLDINGS, INC.                                 (Registrant)
	/s/ John T. Grigsby, Jr. John T. Grigsby, Jr. President and Chief Executive Officer
Date: November 15, 2002

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Item 5. Other Events and Resolution FD Disclosure
Item 7. Financial Statements and Exhibits

SIGNATURES

EX-99.(A)

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Exhibit 99(a)

FOR IMMEDIATE RELEASE

Press Contact and Investor Contact:
John T. Grigsby, Jr.
703/934-3010

KAISER GROUP HOLDINGS ANNOUNCES PLANS FOR PREFERRED STOCK
REDEMPTION AND ELECTION OF NEW DIRECTOR

FAIRFAX, VA November 15, 2002—Kaiser Group Holdings, Inc. (OTCBB: KGHI) announced that its Board of Directors has approved a redemption of approximately $12,519,000 liquidation preference of its Series 1 Redeemable Cumulative Preferred Stock, which will leave a balance of $50 million outstanding. The redemption will be on a pro rata basis, in accordance with the terms of the Series 1 Redeemable Cumulative Preferred Stock, which requires at least 30 days' notice of the redemption. The Company anticipates completing the redemption prior to the end of the calendar year.

        The Company also announced the election of Frank E. Williams, Jr. as a fourth member of its Board of Directors. Mr. Williams has spent four decades in corporate management, beginning his career as a construction engineer and rising to found and serve as an executive in several major steel fabrication, construction services, and erection companies serving customers nationwide.

        Mr. Williams currently serves as chairman and principal owner of Williams Enterprises of Georgia, Inc., a holding company controlling six subsidiaries active in various facets of the steel industry. In addition, Mr. Williams serves as Chairman, CEO, and 50-percent owner of Williams & Beasley Co., a major erector of steel products in the Southwestern US, and Chairman and a major shareholder of Wilfab, Inc., a fabricator of structural steel. He is also Managing Partner and principal owner of Structural Concrete Products LLC (SCP), a manufacturer of prestressed concrete building systems, and of Industrial Alloy Fabricators (IAF), a fabricator of alloy plate products for the pulp and chemical industries.

        John Grigsby, CEO of Kaiser Group Holdings, commented, "We are extremely pleased to have Frank Williams join our Board. We and our shareholders will benefit from his significant industry experience and business acumen."

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Exhibit 99(a)

KAISER GROUP HOLDINGS ANNOUNCES PLANS FOR PREFERRED STOCK REDEMPTION AND ELECTION OF NEW DIRECTOR