1 ================================================================================ /------------------------------/ / OMB APPROVAL / /------------------------------/ / OMB Number: 3235-0287 / / Expires: January 31, 2005 / / Estimated average burden / / hours per response...... 0.5 / /------------------------------/ +--------+ | FORM 4 | U.S. SECURITIES AND EXCHANGE COMMISSION +--------+ WASHINGTON, D.C. 20549 [_] Check this box if no longer subject STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP to Section 16. Form 4 or Form 5 Filed pursuant to Section 16(a) of the Securities obligations may Exchange Act of 1934, Section 17(a) of the continue. See Public Utility Holding Company Act of 1935 or Instruction 1(b). Section 30(h) of the Investment Company Act of 1940 (Print or Type Responses) -------------------------------------------------------------------------------- 1. Name and Address of Reporting Person* Calomiris, Charles William -------------------------------------------------------------------------------- (Last) (First) (Middle) 10700 Parkridge Boulevard, Suite 450 -------------------------------------------------------------------------------- (Street) Reston, VA 20191 -------------------------------------------------------------------------------- (City) (State) (Zip) 2. Issuer Name and Ticker or Trading Symbol Greater Atlantic Financial Corp. ----------------------------------- (GAFC) -------------------------------------------------------------------------------- 3. I.R.S. Identification Number of Reporting Person, (Voluntary) --------------- 4. Statement for Month/Day/Year January 3, 2003 ----------------------------------------------- 5. If Amendment, Date of Original (Month/Day/Year) ---------------------------- 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director X Officer X 10% Owner ___ Other ---- ----- (give title below) ----- (specify below) Chairman of the Board ---------------------------------------------------------------------------- 7. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person ----- Form filed by More than One Reporting Person -----

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Explanation of Responses: /s/ George W. Murphy, Jr. 01-03-03 -------------------------------- -------------------- **Signature of Reporting Person Date By: George W. Murphy, Jr., Power of Attorney For: Charles William Calomiris ** Intentional misstatements or ommissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Note: File three copies of this form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure. Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. Page 2 of 2

CALOMIRIS CHARLES 4