UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF TEXAS
HOUSTON DIVISION
CASE NAME: Philip Services Corporation Petition Date: 06/02/03
CASE NUMBER: 03-37718-H2-11
MONTHLY OPERATING REPORT SUMMARY FOR MONTH: NOVEMBER YEAR: 2003
<Table>
<Caption>
[In Thousands of Dollars]
MONTH Jun - 2003 Jul - 2003 Aug - 2003 Sep - 2003 Oct - 2003 Nov - 2003
----- ---------- ---------- ---------- ---------- ---------- ----------
REVENUES (MOR-6) $ 63,454 $ 60,467 $ 61,836 $ 64,857 $ 72,168 $ 62,417
INCOME BEFORE INT. DEPREC./TAX (MOR-6) $ 3,225 $ (2,624) $ (3,222) $ (239) $ 1,824 $ (3,257)
NET INCOME (LOSS) (MOR-6) $ (7,680) $ (6,507) $ (7,033) $ (1,959) $ (1,690) $ (7,195)
PAYMENTS TO INSIDERS (MOR-9) $ 363 $ 333 $ 391 $ 337 $ 369 $ 252
PAYMENTS TO PROFESSIONALS (MOR-9) $ -- $ 10 $ 1,071 $ 1,526 $ 549 $ 2,897
TOTAL DISBURSEMENTS (MOR-7) $ 54,261 $ 73,577 $ 70,511 $ 68,431 $ 79,360 $ 76,889
</Table>
***The original of this document must be filed with the United States Bankruptcy
Court and a COPY MUST BE SENT to the United States Trustee***
<Table>
<Caption>
REQUIRED INSURANCE MAINTAINED EXP.
AS OF SIGNATURE DATE DATE
- -------------------------------------------------- ---------------
CASUALTY YES (X) NO ( ) 4 30 04
---- ---- ---
LIABILITY YES (X) NO ( ) 4 30 04
---- ---- ---
VEHICLE YES (X) NO ( ) 4 30 04
---- ---- ---
WORKER'S YES (X) NO ( ) 4 30 04
---- ---- ---
OTHER: YES (X) NO ( ) 11 30 04
---- ---- ---
ATTORNEY NAME: John F. Higgins IV
FIRM: Porter & Hedges, L.L.P.
ADDRESS: 700 Louisiana
ADDRESS: Suite 3500
CITY, STATE ZIP: Houston, TX 77002-2764
TELEPHONE: 713-226-0648
</Table>
CIRCLE ONE
Are all accounts receivable being collected within terms? YES NO X
Are all post-petition liabilities, including taxes, being
paid within terms? YES NO X
Have any pre-petition liabilities been paid? YES X NO If so, describe
PRE-PETITION LIABILITIES WHICH WERE APPROVED FOR PAYMENT BY THE COURT (I.E.,
EMPLOYEES REIMBURSEMENTS, CRITICAL VENDORS, ETC.) WERE PAID.
Are all funds received being deposited into DIP bank accounts? YES NO X If
so, describe FOUR "NON-DIP" LOCK-BOX ACCOUNTS (WELLS-FARGO OWNED) ALSO RECEIVE
CASH DEPOSITS
Were any assets disposed of outside the normal course of business? YES NO X
If so, describe _______________________________________________________________
Are all U.S. Trustee Quarterly Fee Payments Current? YES X NO
What is the status of your Plan of Reorganization? PLAN WAS FILED ON SEPTEMBER
19, 2003 AND CONFIRMED ON DECEMBER 10, 2003.
I certify under penalty of perjury that the
following complete Monthly Operating Report
(MOR), consisting of MOR-1 through MOR-9
plus attachments, is true and correct.
SIGNED /s/ MICHAEL TAFF
----------------------------------
(ORIGINAL SIGNATURE)
TITLE V.P. & Controller
----------------------------------
MOR-1
CASE NAME: PHILIP SERVICES CORPORATION
CASE NUMBER: 03-37718-H2-11
COMPARATIVE BALANCE SHEET
[In Thousands of Dollars]
<Table>
<Caption>
FILING DATE
ASSETS JUNE 2, 2003 JUN - 2003 JUL - 2003 AUG - 2003
- ------ ------------ ------------ ------------ ------------
CURRENT ASSETS:
Cash $ 16,851 $ 17,693 $ 13,408 $ 18,885
Restricted Cash: Wells-Fargo Foothill 14,860 41,896 53,714 39,713
Accounts Receivable, Net 166,223 142,840 133,111 140,573
Inventory: Lower of Cost or Market 23,253 20,153 20,746 22,648
Other 43,233 39,448 39,670 43,255
TOTAL CURRENT ASSETS 264,420 262,030 260,649 265,074
============ ============ ============ ============
Property, Plant and Equipment at Cost 266,624 268,749 269,424 269,909
Less: Accumulated Depreciation (91,313) (93,752) (96,085) (98,355)
Net Book Value of Property, Plant and Equipment 175,311 174,997 173,339 171,554
============ ============ ============ ============
Other Long-Term Assets 22,015 21,824 21,667 24,242
TOTAL ASSETS $ 461,746 $ 458,851 $ 455,655 $ 460,870
============ ============ ============ ============
<Caption>
ASSETS SEP - 2003 OCT - 2003 NOV - 2003
- ------ ------------ ------------ ------------
CURRENT ASSETS:
Cash $ 8,889 $ 12,589 $ 10,685
Restricted Cash: Wells-Fargo Foothill 51,698 42,126 35,126
Accounts Receivable, Net 127,977 135,639 138,369
Inventory: Lower of Cost or Market 25,457 31,072 32,357
Other 47,893 50,071 51,042
TOTAL CURRENT ASSETS 261,914 271,497 267,579
============ ============ ============
Property, Plant and Equipment at Cost 266,941 267,123 266,874
Less: Accumulated Depreciation (99,081) (101,034) (102,807)
Net Book Value of Property, Plant and Equipment 167,860 166,089 164,067
============ ============ ============
Other Long-Term Assets 23,031 22,717 22,423
TOTAL ASSETS $ 452,805 $ 460,303 $ 454,069
============ ============ ============
</Table>
MOR-2
CASE NAME: PHILIP SERVICES CORPORATION
CASE NUMBER: 03-37718-H2-11
COMPARATIVE BALANCE SHEET
[In Thousands of Dollars]
<Table>
<Caption>
FILING DATE
LIABILITIES AND OWNER'S EQUITY JUNE 2, 2003 JUN - 2003 JUL - 2003
- ------------------------------ ------------ ------------ ------------
LIABILITIES:
POST-PETITION LIABILITIES (MOR-4) $ -- $ 53,207 $ 62,584
------------ ------------ ------------
PRE-PETITION LIABILITIES:
Secured Term Note Payable 170,905 170,905 170,905
Secured PIK Notes Payable 137,027 137,027 137,027
Unsecured PIK Notes Payable 51,003 51,178 51,178
Revolver Note Payable 50,282 50,282 50,282
Other Notes Payable 5,334 5,136 5,136
Intercompany Notes Receivable with Non-Filed Entities (50,878) (50,878) (50,878)
Trade Accounts Payable 73,028 61,045 60,934
Other Accrued Liabilities 141,466 105,092 99,094
------------ ------------ ------------
PRE-PETITION LIABILITIES 578,167 529,787 523,678
------------ ------------ ------------
TOTAL LIABILITIES 578,167 582,994 586,262
============ ============ ============
STOCKHOLDER'S EQUITY (DEFICIT):
Capital Stock 122,827 122,833 122,838
Pre-Petition Retained Deficit and Wholly-Owned Subsidiary Stock (239,248) (239,248) (239,248)
Post-Petition Change in Foreign Currency Translation -- (48) (10)
Post-Petition Retained Earnings / (Loss) -- (7,680) (14,187)
------------ ------------ ------------
TOTAL STOCKHOLDER'S EQUITY / (DEFICIT) (116,421) (124,143) (130,607)
------------ ------------ ------------
TOTAL LIABILITIES & OWNER'S EQUITY 461,746 458,851 455,655
============ ============ ============
<Caption>
LIABILITIES AND OWNER'S EQUITY AUG - 2003 SEP - 2003 OCT - 2003
- ------------------------------ ------------ ------------ ------------
LIABILITIES:
POST-PETITION LIABILITIES (MOR-4) $ 80,711 $ 76,910 $ 90,816
------------ ------------ ------------
PRE-PETITION LIABILITIES:
Secured Term Note Payable 170,905 170,905 170,905
Secured PIK Notes Payable 137,027 137,027 137,027
Unsecured PIK Notes Payable 51,178 51,178 51,178
Revolver Note Payable 50,282 51,668 52,947
Other Notes Payable 3,617 3,617 3,617
Intercompany Notes Receivable with Non-Filed Entities (50,878) (50,878) (50,878)
Trade Accounts Payable 58,194 56,986 53,790
Other Accrued Liabilities 97,515 95,015 92,373
------------ ------------ ------------
PRE-PETITION LIABILITIES 517,840 515,518 510,959
------------ ------------ ------------
TOTAL LIABILITIES 598,551 592,428 601,775
============ ============ ============
STOCKHOLDER'S EQUITY (DEFICIT):
Capital Stock 122,842 122,847 122,852
Pre-Petition Retained Deficit and Wholly-Owned Subsidiary Stock (239,248) (239,248) (239,248)
Post-Petition Change in Foreign Currency Translation (55) (43) (207)
Post-Petition Retained Earnings / (Loss) (21,220) (23,179) (24,869)
------------ ------------ ------------
TOTAL STOCKHOLDER'S EQUITY / (DEFICIT) (137,681) (139,623) (141,472)
------------ ------------ ------------
TOTAL LIABILITIES & OWNER'S EQUITY 460,870 452,805 460,303
============ ============ ============
<Caption>
LIABILITIES AND OWNER'S EQUITY NOV - 2003
- ------------------------------ ------------
LIABILITIES:
POST-PETITION LIABILITIES (MOR-4) $ 93,774
------------
PRE-PETITION LIABILITIES:
Secured Term Note Payable 170,905
Secured PIK Notes Payable 137,027
Unsecured PIK Notes Payable 51,178
Revolver Note Payable 52,947
Other Notes Payable 3,617
Intercompany Notes Receivable with Non-Filed Entities (50,878)
Trade Accounts Payable 53,150
Other Accrued Liabilities 90,861
------------
PRE-PETITION LIABILITIES 508,807
------------
TOTAL LIABILITIES 602,581
============
STOCKHOLDER'S EQUITY (DEFICIT):
Capital Stock 122,852
Pre-Petition Retained Deficit and Wholly-Owned Subsidiary Stock (239,248)
Post-Petition Change in Foreign Currency Translation (52)
Post-Petition Retained Earnings / (Loss) (32,064)
------------
TOTAL STOCKHOLDER'S EQUITY / (DEFICIT) (148,512)
------------
TOTAL LIABILITIES & OWNER'S EQUITY 454,069
============
</Table>
MOR-3
CASE NAME: PHILIP SERVICES CORPORATION
CASE NUMBER: 03-37718H2-11
SCHEDULE OF POST-PETITION LIABILITIES
[In Thousands of Dollars]
<Table>
<Caption>
JUN - 2003 JUL - 2003 AUG - 2003 SEP - 2003 OCT - 2003 NOV - 2003
---------- ---------- ---------- ---------- ---------- ----------
Trade Accounts Payable (a) $ 18,132 $ 16,291 $ 23,544 $ 24,007 $ 27,032 $ 28,387
Bank Indebtedness 5,453 10,220 14,631 8,942 11,132 8,325
Accrued Liabilities 22,521 26,004 29,575 31,246 34,836 38,072
Intercompany Payable / (Receivable) 7,101 10,069 12,961 12,715 10,816 9,990
Secured Debt Post-Petition -- -- -- -- 7,000 9,000
---------- ---------- ---------- ---------- ---------- ----------
TOTAL POST-PETITION LIABILITIES (MOR-3) $ 53,207 $ 62,584 $ 80,711 $ 76,910 $ 90,816 $ 93,774
========== ========== ========== ========== ========== ==========
</Table>
(a) Trade accounts payable also includes manually accrued accounts payable
invoices.
MOR-4
CASE NAME: PHILIP SERVICES CORPORATION
CASE NUMBER: 03-37718H2-11
AGING OF ACCOUNTS RECEIVABLE
[In Thousands of Dollars]
AGING OF ACCOUNTS RECEIVABLE
<Table>
<Caption>
MONTH JUN - 2003 JUL - 2003 AUG - 2003 SEP - 2003 OCT - 2003 NOV-03
----- ---------- ---------- ---------- ---------- ---------- ----------
0-30 $ 86,389 $ 77,562 $ 79,677 $ 79,965 $ 81,189 $ 85,921
31-60 28,754 23,352 21,825 13,654 19,140 17,220
61-90 12,698 14,532 14,091 8,433 6,326 7,564
91 + 33,347 35,329 42,625 42,671 45,702 44,029
---------- ---------- ---------- ---------- ---------- ----------
Gross Trade Accounts Receivable 161,188 150,775 158,218 144,723 152,357 $ 154,734
Less: Bad Debt Reserve (18,348) (17,664) (17,645) (16,746) (16,718) (16,365)
---------- ---------- ---------- ---------- ---------- ----------
Accounts Receivable, net $ 142,840 $ 133,111 $ 140,573 $ 127,977 $ 135,639 $ 138,369
========== ========== ========== ========== ========== ==========
</Table>
MOR-5
CASE NAME: PHILIP SERVICES CORPORATION
CASE NUMBER: 03-37718H2-11
STATEMENT OF INCOME (LOSS)
[In Thousands of Dollars]
<Table>
<Caption>
FILING TO
MONTH JUN - 2003 JUL - 2003 AUG - 2003 SEP - 2003 OCT - 2003 NOV - 2003 DATE
----- ---------- ---------- ---------- ---------- ---------- ---------- ----------
REVENUES (MOR-1) $ 63,454 $ 60,467 $ 61,836 $ 64,857 $ 72,168 $ 62,417 $ 385,199
TOTAL COST OF REVENUES 54,120 54,036 54,479 55,779 61,185 55,967 335,566
GROSS PROFIT $ 9,334 $ 6,431 $ 7,357 $ 9,078 $ 10,983 $ 6,450 $ 49,633
---------- ---------- ---------- ---------- ---------- ---------- ----------
OPERATING EXPENSES:
Selling & Marketing $ 1,351 $ 1,504 $ 1,467 $ 1,454 $ 1,470 $ 1,262 $ 8,508
General & Administrative 1,586 4,720 5,793 4,795 4,387 4,313 25,594
Professional Fees 3,172 2,831 3,319 3,068 3,302 4,132 19,824
Other (attach list) -- -- -- -- -- -- --
TOTAL OPERATING EXPENSE $ 6,109 $ 9,055 $ 10,579 $ 9,317 $ 9,159 $ 9,707 $ 53,926
---------- ---------- ---------- ---------- ---------- ---------- ----------
INCOME BEFORE INT, DEPR/TAX (MOR-1) $ 3,225 $ (2,624) $ (3,222) $ (239) $ 1,824 $ (3,257) $ (4,293)
INTEREST EXPENSE 1,254 1,077 1,096 1,504 1,344 1,565 7,840
DEPRECIATION 2,393 2,371 2,355 2,344 2,339 2,362 14,164
OTHER (INCOME) EXPENSES (a) (390) (387) (609) (376) (476) (289) (2,527)
DISCONTINUED OPERATIONS (INCOME) / LOSS 7,710 857 892 (2,292) 244 233 7,644
TOTAL INT, DEPR & OTHER ITEMS $ 10,967 $ 3,918 $ 3,734 $ 1,180 $ 3,451 $ 3,871 $ 27,121
---------- ---------- ---------- ---------- ---------- ---------- ----------
NET INCOME BEFORE TAXES $ (7,742) $ (6,542) $ (6,956) $ (1,419) $ (1,627) $ (7,128) $ (31,414)
INCOME TAXES (BENEFIT) (62) (35) 77 540 63 67 650
---------- ---------- ---------- ---------- ---------- ---------- ----------
NET INCOME (LOSS) (MOR-1) $ (7,680) $ (6,507) $ (7,033) $ (1,959) $ (1,690) $ (7,195) $ (32,064)
========== ========== ========== ========== ========== ========== ==========
</Table>
(a) PRINCIPALLY COMPRISED OF INTERCOMPANY INTEREST INCOME ON INTERCOMPANY
NOTES RECEIVABLE FROM AFFILIATED NON-FILED CANADIAN ENTITIES OF THE COMPANY.
MOR-6
CASE NAME: PHILIP SERVICES CORPORATION
CASE NUMBER: 03-37718H2-11
REPORT OF CASH RECEIPTS AND CASH DISBURSEMENTS
[In Thousands]
<Table>
<Caption>
CASH RECEIPTS AND FILING
DISBURSEMENTS JUN - 2003 JUL - 2003 AUG - 2003 SEP - 2003 OCT - 2003 NOV - 2003 TO DATE
- ----------------- ---------- ---------- ---------- ---------- ---------- ---------- ----------
1. CASH-BEGINNING OF MONTH $ 16,851 $ 17,693 $ 13,408 $ 18,885 $ 8,889 $ 12,589 $ 16,851
---------- ---------- ---------- ---------- ---------- ---------- ----------
RECEIPTS:
2. Industrial Services Group 39,828 35,353 30,551 35,245 35,769 32,896 209,642
3. PSD Group 4,884 5,726 6,907 3,673 1,144 654 22,988
4. Metals Group 42,830 29,803 24,440 35,571 27,777 26,662 187,083
5. Corporate / DIP Advances -- -- -- -- -- 9,000 9,000
6. Non Filed Entity Receipts 1,225 1,338 1,033 452 36 -- 4,084
TOTAL RECEIPTS 88,767 72,220 62,931 74,941 64,726 69,212 432,797
---------- ---------- ---------- ---------- ---------- ---------- ----------
DISBURSEMENTS:
7. A/P DISBURSEMENTS:
8. Industrial Services Group 10,880 20,386 18,200 15,674 20,725 15,154 101,019
9. PSD Group 867 1,178 1,749 170 132 40 4,136
10. Metals Group 19,952 25,726 25,852 29,425 32,431 26,379 159,765
11. Corporate 3,827 6,767 4,451 5,358 5,368 16,929 42,700
12. TOTAL A/P DISBURSEMENTS 35,526 54,057 50,252 50,627 58,656 58,502 307,620
13. PAYROLL DISBURSEMENTS:
14. Industrial Services Group 12,779 13,589 14,767 12,994 16,775 12,795 83,699
15. PSD Group 2,501 2,096 1,631 611 3 5 6,847
16. Metals Group 2,295 3,001 2,153 2,124 2,653 2,148 14,374
17. Corporate 1,160 824 543 549 556 542 4,174
18. TOTAL PAYROLL DISBURSEMENTS 18,735 19,510 19,094 16,278 19,987 15,490 109,094
TOTAL DISBURSEMENTS FROM OPERATIONS 54,261 73,567 69,346 66,905 78,643 73,992 416,714
---------- ---------- ---------- ---------- ---------- ---------- ----------
19. PROFESSIONAL FEES -- 10 1,071 1,526 549 2,897 6,053
20. U.S. TRUSTEE FEES -- -- 94 -- 168 -- 262
21. OTHER REORGANIZATION EXPENSES
(attach list) -- -- -- --
---------- ---------- ---------- ---------- ---------- ---------- ----------
TOTAL DISBURSEMENTS 54,261 73,577 70,511 68,431 79,360 76,889 423,029
---------- ---------- ---------- ---------- ---------- ---------- ----------
22. CLEARING INFLOWS (OUTFLOWS) (5,952) 8,214 (904) (8,100) 4,792 (1,245) (3,195)
23. NET CASH FLOW 28,554 6,857 (8,484) (1,590) (9,842) (8,922) 6,573
24. RESTRICTED CASH DUE FROM WELLS
FARGO FOOTHILL 27,712 11,142 (13,961) 8,406 (13,542) (7,018) 12,739
25. CASH - END OF MONTH (MOR-2) $ 17,693 $ 13,408 $ 18,885 $ 8,889 $ 12,589 $ 10,685 $ 10,685
========== ========== ========== ========== ========== ========== ==========
</Table>
MOR-7 *Applies to Individual debtor's only.
CASE NAME: PHILIP SERVICES CORPORATION
CASE NUMBER: 03-37718H2-11
TOTAL DISBURSEMENTS - DETAILED BY LEGAL ENTITY
[In Thousands]
<Table>
<Caption>
BANKRUPTCY
NO. NO. FEIN NAME OF DEBTOR JUN - 2003 JUL - 2003 AUG - 2003 SEP - 2003
- --- ---------- ---------- --------------------------------------------- ---------- ---------- ---------- ----------
1 37718 98-0131394 Philip Services Corporation $ 528 $ 1,028 $ 298 $ 2,102
2 37719 88-0315217 21st Enviro Mgmt (NV) 178 178 174 --
3 37726 05-0476858 21st Enviro Mgmt (RI) -- -- -- 168
4 37727 36-2999642 ACE/Allwaste of Indiana, Inc. 136 193 259 193
5 37728 58-1615191 Allwaste Tank Cleaning, Inc. E15 1,163 2,358 2,262 2,015
6 37729 63-1059703 Allworth, Inc. 103 151 162 161
7 37731 91-0856173 BEI (WA), Inc. 892 3,187 3,168 2,946
8 37733 58-1647392 Cappco Tubular Products, Inc. -- -- -- --
9 37735 34-1659465 Chem Freight, Inc. -- -- -- --
10 37736 65-0476480 Chem Pollution Control FL, Inc. 79 90 35 80
11 37737 11-3202344 Chem Pollution Control - NY, Inc. 110 122 136 128
12 37738 75-1730470 Chemical Reclamation Services, Inc. 465 735 565 467
13 37739 34-1852236 Cousins Waste Control, Inc. 331 420 449 335
14 37740 38-2263067 Cyano-Kem, Inc. -- -- -- --
15 37741 72-0719253 Delta Maintenance, Inc. 94 157 506 --
16 37742 25-1538512 D&L, Inc. -- -- -- --
17 37743 72-0940971 International Catalysts, Inc. 330 466 444 359
18 37744 61-1090856 Jesco, Inc. 198 231 220 151
19 37745 05-0436875 Northland Environmental, Inc. 388 908 393 615
20 37746 38-2387251 Nortru, Inc. 782 1,230 1,295 918
21 37747 37-1021508 Philip Environmental Services Corp. 1,400 2,450 1,199 1,745
22 37748 15-0433570 Philip Metals (USA), Inc. -- -- -- --
23 37749 76-0284668 Philip Reclamation Corp. Houston, Inc. 307 270 326 247
24 37750 42-1167435 Philip North Central, Inc. 324 427 482 497
25 37751 95-3484009 Philip Transportation & Remediation, Inc. 1,330 1,515 1,357 1,511
26 37752 91-1420891 PSC Environmental Services, Inc. -- -- 898 --
27 37753 31-1574374 PSC Metals, Inc. 22,247 28,727 28,005 28,162
28 37754 76-0303456 PSC Recovery Systems, Inc. 187 416 354 403
29 37755 76-0474965 PSC Industrial Outsourcing, Inc. 20,618 25,568 22,964 23,532
30 37756 98-0185025 PSC Industrial Services, Inc. -- -- -- --
31 37757 22-2301518 Republic Environmental Recycling
(New Jersey) Inc. -- -- -- --
32 37758 23-2146567 Republic Environmental System
(Pennsylvania), Inc. 305 803 647 1,038
33 37759 52-2062642 Luntz Acquisition -- -- -- --
34 37760 25-1509265 Republic Environmental System
(Transportation Group), Inc. 120 239 106 162
35 37761 22-2713662 Republic Environmental System
(Technical Services Group), Inc. -- -- -- --
36 37762 91-1358675 Resource Recovery Corporation 1 1 1 1
37 37763 95-2139931 Rho-Chem, Inc. 225 214 223 205
38 37764 52-2026970 RMF Global, Inc. 157 182 214 203
39 37765 38-2736173 RMF Industrial Contracting, Inc. 1,154 1,214 3,276 --
40 37766 72-1285495 Serv-Tech EPC, Inc. -- -- -- --
41 37768 72-0650854 Serv-Tech EPC Subsidiary, Inc. -- -- -- --
42 37769 43-1198595 Solvent Recovery Corp. 96 89 86 81
43 37770 23-2246990 Thermal-KEM, Inc. 12 6 7 6
44 37772 76-0109675 Total Refractory Systems, Inc. -- -- -- --
---------- ---------- ---------- ----------
TOTAL DISBURSEMENTS $ 54,261 $ 73,577 $ 70,511 $ 68,431
========== ========== ========== ==========
<Caption>
BANKRUPTCY FILING
NO. NO. FEIN NAME OF DEBTOR OCT - 2003 NOV - 2003 TO DATE
- --- ---------- ---------- --------------------------------------------- ---------- ---------- ----------
1 37718 98-0131394 Philip Services Corporation $ 2,244 $ 2,584 $ 8,784
2 37719 88-0315217 21st Enviro Mgmt (NV) 264 179 973
3 37726 05-0476858 21st Enviro Mgmt (RI) -- -- 168
4 37727 36-2999642 ACE/Allwaste of Indiana, Inc. 199 110 1,090
5 37728 58-1615191 Allwaste Tank Cleaning, Inc. E15 2,017 1,535 11,350
6 37729 63-1059703 Allworth, Inc. 178 122 877
7 37731 91-0856173 BEI (WA), Inc. 4,017 2,937 17,147
8 37733 58-1647392 Cappco Tubular Products, Inc. 781 60 841
9 37735 34-1659465 Chem Freight, Inc. -- -- --
10 37736 65-0476480 Chem Pollution Control FL, Inc. 108 35 428
11 37737 11-3202344 Chem Pollution Control - NY, Inc. 164 132 792
12 37738 75-1730470 Chemical Reclamation Services, Inc. 652 321 3,205
13 37739 34-1852236 Cousins Waste Control, Inc. 335 277 2,146
14 37740 38-2263067 Cyano-Kem, Inc. -- -- --
15 37741 72-0719253 Delta Maintenance, Inc. -- -- 757
16 37742 25-1538512 D&L, Inc. -- -- --
17 37743 72-0940971 International Catalysts, Inc. 707 472 2,778
18 37744 61-1090856 Jesco, Inc. 216 167 1,183
19 37745 05-0436875 Northland Environmental , Inc. 573 472 3,349
20 37746 38-2387251 Nortru, Inc. 1,055 848 6,128
21 37747 37-1021508 Philip Environmental Services Corp. 2,415 1,457 10,666
22 37748 15-0433570 Philip Metals (USA), Inc. -- -- --
23 37749 76-0284668 Philip Reclamation Corp. Houston, Inc. 293 240 1,683
24 37750 42-1167435 Philip North Central, Inc. 525 384 2,640
25 37751 95-3484009 Philip Transportation & Remediation, Inc. 1,889 1,493 9,095
26 37752 91-1420891 PSC Environmental Services, Inc. -- -- 898
27 37753 31-1574374 PSC Metals, Inc. 31,650 26,319 165,110
28 37754 76-0303456 PSC Recovery Systems, Inc. 396 307 2,063
29 37755 76-0474965 PSC Industrial Outsourcing, Inc. 26,917 35,358 154,957
30 37756 98-0185025 PSC Industrial Services, Inc. -- -- --
31 37757 22-2301518 Republic Environmental Recycling
(New Jersey) Inc. -- -- --
32 37758 23-2146567 Republic Environmental System
(Pennsylvania), Inc. 606 453 3,853
33 37759 52-2062642 Luntz Acquisition -- -- --
34 37760 25-1509265 Republic Environmental System
(Transportation Group), Inc. 231 160 1,018
35 37761 22-2713662 Republic Environmental System
(Technical Services Group), Inc. -- -- --
36 37762 91-1358675 Resource Recovery Corporation 3 5 12
37 37763 95-2139931 Rho-Chem, Inc. 325 213 1,406
38 37764 52-2026970 RMF Global, Inc. 249 177 1,182
39 37765 38-2736173 RMF Industrial Contracting, Inc. 230 -- 5,874
40 37766 72-1285495 Serv-Tech EPC, Inc. -- -- --
41 37768 72-0650854 Serv-Tech EPC Subsidiary, Inc. -- -- --
42 37769 43-1198595 Solvent Recovery Corp. 115 67 534
43 37770 23-2246990 Thermal-KEM, Inc. 6 5 42
44 37772 76-0109675 Total Refractory Systems, Inc. -- -- --
---------- ---------- ----------
TOTAL DISBURSEMENTS $ 79,360 $ 76,889 $ 423,029
========== ========== ==========
</Table>
MOR-7(a)
CASE NAME: PHILIP SERVICES CORPORATION
CASE NUMBER: 03-37718H2-11
BANK ACCOUNT RECONCILIATIONS
[In Thousands of Dollars]
<Table>
<Caption>
BOOK BANK
BALANCE BALANCE DIFFERENCE
------------ ------------ ------------
Industrial Services Group $ (1,146) $ 601 $ (1,747)
Project Services Group (181) -- (181)
Metals Services Group (3,277) 875 (4,152)
Corporate 15,289 8,181 7,108
------------ ------------ ------------
Total Cash $ 10,685 $ 9,657 $ 1,028
============ ============ ============
</Table>
MOR-8
CASE NAME: PHILIP SERVICES CORPORATION
CASE NUMBER: 03-37718H2-11
PAYMENT TO INSIDERS AND PROFESSIONALS
[In Thousands of Dollars]
<Table>
<Caption>
FILING TO
PROFESSIONALS: NAME JUN - 2003 JUL - 2003 AUG - 2003 SEP - 2003 OCT - 2003 NOV - 2003 DATE
------------------- ---------- ---------- ---------- ---------- ---------- ---------- ----------
1 Sonnenschein, Nath, Rosenthal $ -- $ -- $ 687 $ 843 $ -- $ 1,317 $ 2,847
2 Porter & Hedges -- -- 117 260 -- 189 566
3 Andrews & Kurth -- -- 147 135 -- 170 452
4 Jeffries & Company -- -- -- -- 203 242 445
5 Ernst & Young LLP -- -- 35 -- -- 334 369
6 KPMG LLP -- -- -- 205 -- 102 307
7 Chanin Capital Partners -- -- 73 -- 215 -- 288
8 Stikeman Elliot -- -- -- -- -- 252 252
9 Logan & Company -- -- -- -- -- 138 138
10 Barack Ferrazaazno Kirschbaum -- -- -- 21 36 75 132
11 Seyfarth Shaw -- -- 9 45 69 8 131
12 Deloitte & Touche -- -- -- -- -- 36 36
13 Van Ness Feldman -- 8 -- 8 18 -- 34
14 Hodgson Orkin Post -- -- -- -- -- 30 30
15 Anderson Kill & Olick P.C. -- -- -- 3 -- 3 6
16 Brown McCarroll LLP -- -- -- -- 5 -- 5
17 Mayer, Brown, Rowe -- -- -- 1 3 1 5
18 PriceWaterhouse Coopers -- -- 2 -- -- -- 2
19 Mark A. Oathout -- -- -- 2 -- -- 2
20 Blank Rom Comisky -- -- -- 2 -- -- 2
21 Dierker & Glassmeyer -- 2 -- -- -- -- 2
22 Honigman, Miller, Schwartz -- -- -- 1 -- -- 1
23 Galloway, Johnson, Tompkins -- -- 1 -- -- -- 1
---------- ---------- ---------- ---------- ---------- ---------- ----------
TOTAL PROFESSIONALS (MOR-1) $ -- $ 10 $ 1,071 $ 1,526 $ 549 $ 2,897 $ 6,053
========== ========== ========== ========== ========== ========== ==========
</Table>
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CASE NAME: PHILIP SERVICES CORPORATION
CASE NUMBER: 03-37718H2-11
PAYMENT TO INSIDERS AND PROFESSIONALS
[In Thousands of Dollars]
<Table>
<Caption>
FILING TO
INSIDERS: NAME JUN - 2003 JUL - 2003 AUG - 2003 SEP - 2003 OCT - 2003 NOV - 2003 DATE
-------------- ---------- ---------- ---------- ---------- ---------- ---------- ----------
1 Donald Forlani $ 23 $ 24 $ 37 $ 25 $ 30 $ 25 $ 164
2 Robert Millstone 25 22 32 24 22 22 147
3 John Rent 16 31 24 16 33 16 136
4 Brian Recatto 16 20 32 25 22 20 135
5 Michael Ramirez 21 19 29 24 19 19 131
6 Michael Taff 32 14 19 13 32 13 123
7 David Andrews 30 12 20 12 30 12 116
8 Robert Lewis 30 12 17 15 30 12 116
9 Douglas McSorley 13 25 19 18 27 13 115
10 Robert Knauss 18 14 24 14 16 19 105
11 James Boggs 12 12 20 15 19 16 94
12 Robert Card 17 10 14 10 17 10 78
13 James Jacko 10 15 13 8 15 8 69
14 Linda Bogdanovic 8 13 11 7 13 8 60
15 Michael Stineman 7 12 11 8 12 7 57
16 Phillip Thurston 7 9 14 9 9 9 57
17 Steve Forystek 8 8 10 8 10 8 52
18 Gerald Francis 6 6 9 15 6 6 48
19 Deborah Huston 8 7 11 8 7 7 48
20 Felix Pardo 7 3 -- 14 -- -- 24
21 James Lanclos 7 8 8 -- -- -- 23
22 Harold First 6 3 -- 13 -- -- 22
23 Roger Sheidler 6 8 8 -- -- -- 22
24 Robert Mitchell 6 3 -- 12 -- -- 21
25 Jerry Leslie 5 8 6 -- -- -- 19
26 Edmund Frost 4 3 -- 12 -- 2 21
27 Stanley Norman 4 3 -- 12 -- -- 19
28 Vince Gentile 8 5 -- -- -- -- 13
29 Melissa Materna 3 4 3 -- -- -- 10
---------- ---------- ---------- ---------- ---------- ---------- ----------
TOTAL INSIDERS (MOR-1) $ 363 $ 333 $ 391 $ 337 $ 369 $ 252 2,045
========== ========== ========== ========== ========== ========== ==========
</Table>
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