4 2003-05-23 0 0001085254 EXCALIBUR INDUSTRIES INC EXCB.OB 0001041078 SENECA CAPITAL ADVISORS LLC 0 0 1 0 Common Stock, par value $0.0001 2003-05-23 4 S 0 27500 0.5 D 1520000 I see Note 2 Shares are held by Seneca Capital, L.P. and Seneca Capital International, Ltd. Seneca Capital Advisors, LLC is the General Partner of Seneca Capital, L.P. Seneca Capital Investments, LLC is the investment manager of Seneca Capital International, Ltd. Douglas A. Hirsch is the Managing Member of Seneca Capital Advisors, LLC and of Seneca Capital Investments, LLC. Each of Seneca Capital Advisors, LLC, Seneca Capital Investments, LLC and Douglas A. Hirsch disclaim beneficial ownership of these securities except to the extent of its or his pecuniary interest therein and nothing in this report shall be deemed to be an admission by any of them that they are the beneficial owner of such securities for purposes of Section 16 or for any other purpose. Seneca Capital International, Ltd. sold 27,500 shares of common stock on May 23, 2003. Seneca Capital International, Ltd. now holds 1,013,333 shares of common stock. In addition, Seneca Capital International, Ltd. holds warrants to purchase 163,301 shares of common stock at an exercise price of $1.00 per share and holds warrants to purchase 126,000 shares of common stock at an exercise price of $1.35 per share. Seneca Capital, L.P. holds 506,667 shares of common stock. In addition, Seneca Capital, L.P. holds warrants to purchase 81,699 shares of common stock at an exercise price of $1.00 per share and holds warrants to purchase 54,000 shares of common stock at an exercise price of $1.35 per share. The business address for Seneca Capital, L.P., Seneca Capital Investments, LLC, Seneca Capital Advisors, LLC and Douglas A. Hirsch is 527 Madison Avenue, 11th Floor, New York, NY 10022 and for Seneca Capital International, Ltd. is c/o Consolidated Fund Management (BVI) Limited, PO Box HM 2257, Par La Ville Place, 14 Par La Ville Road, Hamilton HJMX, Bermuda. Douglas A. Hirsch, as Managing Member of Seneca Capital Advisors, LLC, the General Partner of Seneca Capital, L.P. 2003-05-28 Douglas A. Hirsch, as Managing Member of Seneca Capital Investments, LLC, the investment advisor of Seneca Capital International, Ltd. 2003-05-28