Premium Financial Services & Leasing, Inc.
                          9229 Delegates Row, Suite 130

                           Indianapolis, Indiana 46240

                                 (317) 575-1800

                                  June 16, 2003

VIA EDGAR

Mr. John Reynolds
Assistant Director
Office of Small Business
Securities and Exchange Commission
450 Fifth Street, N.W.

Washington, D.C. 20549

Re:      Premium Financial Services & Leasing, Inc.
         Registration Statement on Form SB-2 June 11, 2002
         First Amendment filed September 4, 2002
         Second Amendment filed December 12, 2002

         File No. 333-90188

Dear Mr. Reynolds:

         Pursuant to Rule 477(a)  promulgated  under the Securities Act of 1933,
as amended,  Premium Financial Services & Leasing,  Inc., a Wyoming  corporation
(the "Registrant") hereby applies for an order granting the immediate withdrawal
of its Registration  Statement on Form SB-2, File No.  333-90188,  together with
all  amendments  and  exhibits  thereto  (the  "Registration  Statement").   The
Registration  Statement was  originally  filed with the  Securities and Exchange
Commission  on June 11, 2002, a first  amendment was filed on September 4, 2002,
and a second amendment was filed on December 12, 2002.

         The Registrant  has determined  that it is not in its best interests to
proceed  with the  Registration  Statement  at this time.  As a  relatively  new
reporting  company,   Premium  Financial  has  been  experiencing   difficulties
associated with the ongoing  responsibilities of timely public reporting and the
associated   accounting  and  auditing  burdens.  The  Registrant  is  therefore
withdrawing its Registration  Statement at this time. It is the intention of the
Registrant  to again file a SB-2  registration  statement  as soon as it becomes
current in its reporting.

         The Registration  Statement has never been declared  effective,  and no
shares have been issued or sold pursuant to the Registration  Statement.  Should
you have any questions regarding this matter,  please do not hesitate to contact
Kevin M. Sherlock,  legal counsel to the Registrant,  at (520) 906-3567,  or the
undersigned at (317) 575-1800.

                                    Very truly yours,
                                    /s/
                                    Michael Gooch,
                                    President,

                                    Premium Financial Services & Leasing, Inc.