INDEPENDENT ACCOUNTANT'S REPORT



Board  of  Directors
CAL-BAY  INTERNATIONAL,  INC.


I  have  reviewed  the  accompanying  consolidated  balance  sheets  of  Cal-Bay
International,  Inc. (A Nevada Corporation), and subsidiary, as of June 30, 2003
and  2002,  and  the  related  consolidated statements of operations, changes in
stockholders'  equity  and  cash  flows for the three and six month periods then
ended.  All  information  included  in  these  financial  statements  is  the
representation  of  the  management  of  Cal-Bay  International,  Inc.

I  conducted  my review in accordance with standards established by the American
Institute  of  Public  Accountants.  A  review  of interim financial information
consists  principally  of  obtaining  an  understanding  of  the  system for the
preparation  of  interim  financial  information,  applying  analytical  review
procedures  to  financial  data, and making inquiries of persons responsible for
financial  and  accounting  matters.  It  is substantially less in scope than an
audit in accordance with generally accepted auditing standards, the objective of
which  is  the expression of an opinion regarding the financial statements taken
as  a  whole.  Accordingly,  I  do  not  express  such  an  opinion.

Based  on my review, I am not aware of any material modifications that should be
made  to  the  accompanying consolidated financial statements and the cumulative
results  of operations and cash flows in order for them to be in conformity with
generally  accepted  accounting  principles.




/s/  Argy  &  Company
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ARGY  &  COMPANY
July  31,  2003
Fountain  Valley,  California