Exhibit 16
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| PricewaterhouseCoopers LLP | ||
| 160 Federal Street | ||
| Boston, MA 02110-9862 | ||
| Telephone (617) 428 8400 | ||
| Facsimile (617) 439 7393 |
September 25, 2003
Securities and Exchange Commission
450 Fifth Street N.W.
Washington, D.C. 20549
Commissioners:
We have read the statements made by Captec Franchise Capital Partners L.P. III (copy attached), which we understand will be filed with the Commission, pursuant to Item 4 of the Form 8-K, as part of the Company’s Form 8-K report dated September 24, 2003. We agree with the statements concerning our Firm in Item 4 of such Form 8-K.
Very truly yours,
/s/ PricewaterhouseCoopers LLP
PricewaterhouseCoopers LLP