8-K

UNITED STATES
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):  October 6, 2005

KAISER GROUP HOLDINGS, INC.

(successor issuer to Kaiser Group International, Inc.)

(Exact name of registrant as specified in its charter)

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

9300 Lee Highway
Fairfax, Virginia  22031-1207

(Address of principal executive offices, including zip code)

703-934-3413

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01 Other Events.

In a press release dated October 6, 2005, Kaiser Group Holdings, Inc. (the “Company”) announced that on October 5, 2005 ICF Consulting Group, Inc. paid in full, plus accrued interest, the $6,441,959.59 eight and a half percent (8.5%) promissory note which was due on June 25, 2006.  A copy of the press release is attached to this Report on Form 8-K as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

Exhibit 99.1 – Press release of Kaiser Group Holdings, Inc. dated October 6, 2005.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	KAISER GROUP HOLDINGS, INC.
	(Registrant)
Date: October 7, 2005
	/s/ Douglas W. McMinn
	Douglas W. McMinn
	President and Chief Executive Officer

2

EX-99.1

EXHIBIT 99.1

FOR IMMEDIATE RELEASE Press Contact and Investor Contact:
Douglas W. McMinn
703/934-3655

KAISER GROUP HOLDINGS ANNOUNCES
EARLY PAYOFF OF PROMISSORY NOTE

FAIRFAX, VA October 6, 2005 - Kaiser Group Holdings, Inc. (Pink Sheets:  KGHI) announced that on October 5, 2005, ICF Consulting Group, Inc. paid in full, plus accrued interest,  the $6,441,959.59 eight and a half percent (8.5%) promissory note which was due on June 25, 2006.

This release contains, and Kaiser’s periodic filings with the Securities and Exchange Commission and written or oral statements made by Kaiser’s officers and directors to press, potential investors, securities analysts and others, may contain, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.  These forward-looking statements are not historical facts, but rather are predictions and generally can be identified by use of statements that include phrases such as “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” “foresee” or other words or phrases of similar import.  Similarly, statements that describe or contain information related to matters such as Kaiser’s intent, belief, or expectation with respect to financial performance, claims resolution, cash availability, stock redemption plans, contract awards and performance, potential acquisitions and joint ventures, and cost-cutting measures are forward-looking statements.  These forward-looking statements often reflect a number of assumptions and involve known and unknown risks, uncertainties and other factors that could cause Kaiser’s actual results to differ materially from those currently anticipated in these forward-looking statements.  In light of these risks and uncertainties, the forward-looking events might or might not occur.