Captec Franchise Capital Partners LP Iii 8-K Changes in registrant's certifying accountant

Exhibit 16

	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