UNITED STATES SECURITIES AND EXCHANGE COMMISSION ~~WASHINGTON, D.C. 20549~~

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): ~~October~~ January 1129, ~~2002~~2004

Commission file number: 333-~~44860~~86972

SPECIALTY TRUST, INC. ~~(Exact name of Registrant as specified in its Charter)~~

~~Maryland~~ (~~State~~Exact orname ~~other jurisdiction~~ of ~~Incorporation~~Registrant oras ~~organization)~~specified ~~88-0382463~~in ~~(I.R.S.~~its ~~Employer Identification No.~~Charter)

6160 Plumas St. Reno, Nevada (Address of principal executive offices) 89509 (Zip Code)


Maryland		88-0382463
(State or other jurisdiction of Incorporation or organization)		(I.R.S. Employer Identification No.)

6160 Plumas St. Reno, Nevada		89509
(Address of principal executive offices)		(Zip Code)

(775) 826-0809
(Registrant’s telephone number, including area code)

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

TABLE OF CONTENTS

	Item 4. CHANGES IN REGISTRANT’S CERTIFYING ACCOUNTANTS
	Item 5. OTHER EVENTS
	Item 7. EXHIBITS
SIGNATURES
Exhibit 16.1
EXHIBIT INDEX
Exhibit 10.1b

Item 45. ~~CHANGES~~OTHER ~~IN REGISTRANT’S CERTIFYING ACCOUNTANTS~~EVENTS

~~Grant~~ Pursuant ~~Thornton~~to ~~LLP~~a ~~(“Grant~~unanimous ~~Thornton”)~~Action ~~was~~by ~~previously~~Written ~~the~~Consent ~~independent~~of ~~accounting firm engaged as~~ the ~~principal~~Board ~~accountant to audit the financial statements~~ of Directors of Specialty Trust, Inc. (the “Company”). Ondated ~~October~~January 1129, ~~2002~~2004, ~~that~~and in ~~firm~~order ~~was dismissed~~to amend the First Amended and Restated Management Agreement dated as of ~~principal~~May 22, ~~accountant~~2001, between the Company and ~~KPMG~~Specialty ~~LLP~~Financial, as Manager (the “~~KPMG~~Manager”) ~~was~~for ~~selected~~purposes asof revising the compensation payable to the Manager, the Company’s ~~independent~~has ~~public~~entered ~~accountants~~into ~~for~~ the ~~fiscal~~Second ~~year~~Amended ~~ending~~and ~~December~~Restated Management ~~31,~~Agreement ~~2002.~~dated ~~The~~as ~~decision~~of toJanuary 1, ~~change~~2004, ~~accountants~~between ~~was~~the ~~recommended~~Company byand the ~~audit~~Manager (the ~~committee~~“Second Amended and ~~approved~~Restated byManagement ~~the~~Agreement”). ~~board~~The ofSecond ~~directors~~Amended and Restated Management Agreement is annexed hereto as Exhibit 10.1b.

During the last two fiscal years ended December 31, 2001 and 2000 and the subsequent interim period through June 30, 2002, there were no disagreements with Grant Thornton on any matter of accounting principles or practices, consolidated financial statement disclosure, or auditing scope or procedures, which disagreements if not resolved to their satisfaction would have caused them to make reference in connection with their opinion to the subject matter of the disagreement. Also, during such periods there were no reportable events as set forth in Item 304(a)(1)(v) of Regulation S-K.

The audit reports of Grant Thornton on the consolidated financial statements of Specialty Trust, Inc. as of and for the years ended December 31, 2001 and 2000, did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principals.

The Company has provided Grant Thornton with a copy of this report on Form 8-K and has requested Grant Thornton to furnish it a letter addressed to the Commission stating whether it agrees with the above statements. A copy of that letter, dated October 11, 2002, is filed as Exhibit 16.1 to this Form 8-K.

The Company has engaged KPMG to serve as the Company’s independent public accountants for the fiscal year ending December 31, 2002. During the Company’s two most recent fiscal years and through the date hereof, the Company did not consult KPMG with respect to the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company’s consolidated financial statements, or any other matters or reportable events as set forth in Items 304(a)(2)(i) and (ii) of Regulation S-K.

Item 7. EXHIBITS

~~Exhibit 16~~10.~~1 Letter~~1b onSecond ~~Change~~Amended inand ~~Certifying~~Restated ~~Accountant~~ Management Agreement

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

SPECIALTY TRUST, INC.


	SPECIALTY TRUST, INC.

Dated: February 10, 2004	By:		/s/ Nello Gonfiantini III

		Nello Gonfiantini III
		Chairman, President, and Secretary

Dated: October 14, 2002	By:	/s/ Nello Gonfiantini III
		Nello Gonfiantini III Chairman, President, and Secretary
		(Signed in the capacity of (i) duly authorized officer of the registrant
Dated: October 14, 2002	By:	/s/ Stephanie S. Schmitt
		Stephanie S. Schmitt Chief Financial Officer
		(Signed in the capacity of (i) duly authorized officer of the registrant and (ii) principal Financial Officer of the registrant)

EXHIBIT INDEX

Exhibit Number

10.1b

Second Amended and Restated Management Agreement

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