X0202 3 2005-12-30 0 0000856200 KAISER GROUP HOLDINGS INC KGHI 0001348564 ANDREW R TENNENBAUM INVESTMENT TRUST 1318 SAN YSIDRO DRIVE BEVERLY HILLS CA 90210 0 0 1 0 Common Stock, par value $0.01 per share 200000 D These shares are owned directly by the Andrew R. Tennenbaum Investment Trust and indirectly by Stephen P. Rader and John Mass, as co-trustees of the Trust. Messrs. Rader and Mass disclaim beneficial ownership of these shares except to the extent of their pecuniary interest therein. Exhibit List Exhibit 24 - Powers of Attorney /s/ David A. Hollander, by power of attorney Stephen P. Rader, individually and as trustee of the Andrew R. Tennenbaum Investment Trust and John Mass, individually and as trustee of the Andrew R. Tennenbaum Investment Trust 2006-01-05