-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 MWejluMbCiVe63EtgBbphyy3vjOi0kQH3p6xGzCfSKgzzTM0Io5+DbbuE/tpHJJV
 Gb3yYK+jTvcOvUFTJcJg8g==

<SEC-DOCUMENT>0001005477-03-000428.txt : 20030507
<SEC-HEADER>0001005477-03-000428.hdr.sgml : 20030507
<ACCEPTANCE-DATETIME>20030507142640
ACCESSION NUMBER:		0001005477-03-000428
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030505
FILED AS OF DATE:		20030507

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COMMERCE BANCORP INC /NJ/
		CENTRAL INDEX KEY:			0000715096
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				222433468
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		COMMERCE ATRIUM
		STREET 2:		1701 RTE 70 E
		CITY:			CHERRY HILL
		STATE:			NJ
		ZIP:			08034-5400
		BUSINESS PHONE:		8567519000

	MAIL ADDRESS:	
		STREET 1:		1701 ROUTE 70 EAST
		CITY:			CHERRY HILL
		STATE:			NJ
		ZIP:			08034-5400

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SCHWARTZ WILLIAM A JR
		CENTRAL INDEX KEY:			0001054372

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12069
		FILM NUMBER:		03685958

	BUSINESS ADDRESS:	
		STREET 1:		U S VISION
		STREET 2:		P O BOX 124
		CITY:			GLENDORA
		STATE:			NJ
		ZIP:			08029
		BUSINESS PHONE:		8567519000

	MAIL ADDRESS:	
		STREET 1:		U S VISION
		STREET 2:		P O BOX 124
		CITY:			GLENDORA
		STATE:			NJ
		ZIP:			08029
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar123.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0101</schemaVersion>

<documentType>4</documentType>
    <periodOfReport>2003-05-05</periodOfReport>
    <notSubjectToSection16>0</notSubjectToSection16>
<issuer>        <issuerCik>0000715096</issuerCik>
        <issuerName>COMMERCE BANCORP INC /NJ/</issuerName>
<issuerTradingSymbol>CBH</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
    <reportingOwnerId>
        <rptOwnerCik>0001054372</rptOwnerCik>
            <rptOwnerName>SCHWARTZ WILLIAM A JR</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
<reportingOwnerRelationship>
        <isDirector>1</isDirector>
        <isOfficer>0</isOfficer>
        <isTenPercentOwner>0</isTenPercentOwner>
        <isOther>0</isOther>
    </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeSecurity>
        <securityTitle>
            <value>Common Stock</value>
        </securityTitle>
        <transactionDate>
            <value>2003-05-05</value>
        </transactionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>P</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>1000</value>
            </transactionShares>
            <transactionValue>
                <value>41.04</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>25276</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </nonDerivativeSecurity>

    <nonDerivativeSecurity>
        <securityTitle>
            <value>Common Stock</value>
        </securityTitle>
        <transactionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </transactionDate>
        <deemedExecutionDate>
            <value>1998-08-08</value>
        </deemedExecutionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>J</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
        <footnoteId id="F1"/>
    </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>0</value>
            </transactionShares>
            <transactionValue>
                <value>0</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>4932</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </nonDerivativeSecurity>

    <nonDerivativeSecurity>
        <securityTitle>
            <value>Common Stock</value>
        </securityTitle>
        <transactionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </transactionDate>
        <deemedExecutionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </deemedExecutionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>J</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
        <footnoteId id="F1"/>
    </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>0</value>
            </transactionShares>
            <transactionValue>
                <value>0</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>2386</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>I</value>
            </directOrIndirectOwnership>
            <natureOfOwnership>
                <value>Self-IRA</value>
            </natureOfOwnership>
        </ownershipNature>
    </nonDerivativeSecurity>

    <nonDerivativeSecurity>
        <securityTitle>
            <value>Common Stock</value>
        </securityTitle>
        <transactionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </transactionDate>
        <deemedExecutionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </deemedExecutionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>J</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
        <footnoteId id="F1"/>
    </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>0</value>
            </transactionShares>
            <transactionValue>
                <value>0</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>6623</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>I</value>
            </directOrIndirectOwnership>
            <natureOfOwnership>
                <value>Wife</value>
            </natureOfOwnership>
        </ownershipNature>
    </nonDerivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>Right to Buy</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>4.40</value>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </transactionDate>
        <deemedExecutionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </deemedExecutionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>A</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
        <footnoteId id="F1"/>
    </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>0</value>
            </transactionShares>
            <transactionValue>
                <value>0</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>1994-05-18</value>
        </exerciseDate>
        <expirationDate>
            <value>2003-05-18</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>Common Stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>0</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>0</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>Right to Buy</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>5.36</value>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </transactionDate>
        <deemedExecutionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </deemedExecutionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>A</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
        <footnoteId id="F1"/>
    </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>0</value>
            </transactionShares>
            <transactionValue>
                <value>0</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>1995-05-24</value>
        </exerciseDate>
        <expirationDate>
            <value>2004-05-24</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>Common Stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>1668</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>1668</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>Right to Buy</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>5.82</value>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </transactionDate>
        <deemedExecutionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </deemedExecutionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>A</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
        <footnoteId id="F1"/>
    </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>0</value>
            </transactionShares>
            <transactionValue>
                <value>0</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>1996-06-20</value>
        </exerciseDate>
        <expirationDate>
            <value>2005-06-20</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>Common Stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>1590</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>1590</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>Right to Buy</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>7.72</value>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </transactionDate>
        <deemedExecutionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </deemedExecutionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>A</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
        <footnoteId id="F1"/>
    </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>0</value>
            </transactionShares>
            <transactionValue>
                <value>0</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>1997-06-18</value>
        </exerciseDate>
        <expirationDate>
            <value>2006-06-18</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>Common Stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>1516</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>1516</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>Right to Buy</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>12.82</value>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </transactionDate>
        <deemedExecutionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </deemedExecutionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>A</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
        <footnoteId id="F1"/>
    </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>0</value>
            </transactionShares>
            <transactionValue>
                <value>0</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>1998-06-17</value>
        </exerciseDate>
        <expirationDate>
            <value>2007-06-17</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>Common Stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>2890</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>2890</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>Right to Buy</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>20.31</value>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </transactionDate>
        <deemedExecutionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </deemedExecutionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>A</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
        <footnoteId id="F1"/>
    </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>0</value>
            </transactionShares>
            <transactionValue>
                <value>0</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>1999-06-29</value>
        </exerciseDate>
        <expirationDate>
            <value>2008-06-29</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>Common Stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>20668</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>20668</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>Right to Buy</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>21.84</value>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </transactionDate>
        <deemedExecutionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </deemedExecutionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>A</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
        <footnoteId id="F1"/>
    </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>0</value>
            </transactionShares>
            <transactionValue>
                <value>0</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>2000-01-19</value>
        </exerciseDate>
        <expirationDate>
            <value>2009-01-19</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>Common Stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>3150</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>3150</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>Right to Buy</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>19.28</value>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </transactionDate>
        <deemedExecutionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </deemedExecutionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>A</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
        <footnoteId id="F1"/>
    </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>0</value>
            </transactionShares>
            <transactionValue>
                <value>0</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>2000-12-21</value>
        </exerciseDate>
        <expirationDate>
            <value>2009-12-21</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>Common Stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>3150</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>3150</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>Right to Buy</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>30.60</value>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </transactionDate>
        <deemedExecutionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </deemedExecutionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>A</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
        <footnoteId id="F1"/>
    </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>0</value>
            </transactionShares>
            <transactionValue>
                <value>0</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>2002-01-31</value>
        </exerciseDate>
        <expirationDate>
            <value>2011-01-31</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>Common Stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>6000</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>6000</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>Right to Buy</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>40.12</value>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </transactionDate>
        <deemedExecutionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </deemedExecutionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>A</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
        <footnoteId id="F1"/>
    </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>0</value>
            </transactionShares>
            <transactionValue>
                <value>0</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>2003-02-04</value>
        </exerciseDate>
        <expirationDate>
            <value>2012-02-04</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>Common Stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>5000</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>5000</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>Right to Buy</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>42.80</value>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </transactionDate>
        <deemedExecutionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </deemedExecutionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>A</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
        <footnoteId id="F1"/>
    </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>0</value>
            </transactionShares>
            <transactionValue>
                <value>0</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>2004-02-18</value>
        </exerciseDate>
        <expirationDate>
            <value>2013-02-18</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>Common Stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>1250</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>1250</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>Right to Buy</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>42.80</value>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </transactionDate>
        <deemedExecutionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </deemedExecutionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>A</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
        <footnoteId id="F1"/>
    </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>0</value>
            </transactionShares>
            <transactionValue>
                <value>0</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>2005-02-18</value>
        </exerciseDate>
        <expirationDate>
            <value>2013-02-18</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>Common Stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>1250</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>1250</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>Right to Buy</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>42.80</value>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </transactionDate>
        <deemedExecutionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </deemedExecutionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>A</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
        <footnoteId id="F1"/>
    </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>0</value>
            </transactionShares>
            <transactionValue>
                <value>0</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>2006-02-18</value>
        </exerciseDate>
        <expirationDate>
            <value>2013-02-18</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>Common Stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>1250</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>1250</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>Right to Buy</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>42.80</value>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </transactionDate>
        <deemedExecutionDate>
            <value>1998-08-08</value>
            <footnoteId id="F2"/>
        </deemedExecutionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>A</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
        <footnoteId id="F1"/>
    </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>0</value>
            </transactionShares>
            <transactionValue>
                <value>0</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>2007-02-18</value>
        </exerciseDate>
        <expirationDate>
            <value>2013-02-18</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>Common Stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>1250</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>1250</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <footnotes>
        <footnote id="F1">No Activity</footnote>
        <footnote id="F2">The staff has designated "08/08/1998" as a "dummy date" for this specific purpose.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>William Schwartz, Jr.</signatureName>
        <signatureDate>2003-05-06</signatureDate>
    </ownerSignature>

</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----