-----------------------------
                                                           OMB APPROVAL
                                                   -----------------------------
                                                   OMB Number: 3235-0145
                                                   Expires: December 31, 2005
                                                   Estimated average burden
                                                   hours per response. . . . .11
                                                   -----------------------------




                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                           --------------------------

                                  SCHEDULE 13G
                              (Section 240.13d-102)

             INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
       TO SECTIONS 240.13d-1(b), (c) and (d) AND AMENDMENTS THERETO FILED
                          PURSUANT TO SECTION 240.13d-2
                               (Amendment No. 1)1


                         CSG Systems International, Inc.
--------------------------------------------------------------------------------
                                (Name of Issuer)


                     Common Stock, Par Value $0.01 Per Share
--------------------------------------------------------------------------------
                         (Title of Class of Securities)


                                    126349109
--------------------------------------------------------------------------------
                                 (CUSIP Number)


                                 January 1, 2004
--------------------------------------------------------------------------------
             (Date of Event which Requires Filing of this Statement)


         Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:

                  | |      Rule 13d-1(b)
                  |X|      Rule 13d-1(c)
                  | |      Rule 13d-1(d)


                         (Continued on following pages)
                               Page 1 of 29 Pages
                         Exhibit Index Found on Page 28

---------------------------

         1 The  remainder of this cover page shall be filled out for a reporting
person's  initial  filing on this  form with  respect  to the  subject  class of
securities,  and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.

         The information  required in the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise  subject to the  liabilities of that section of
the Act but shall be subject to all other  provisions of the Act  (however,  see
the Notes).






                                       13G

===================
CUSIP No. 126349109
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Farallon Capital Partners, L.P.
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                                (a) [   ]
                                                                (b) [ X ]**

    2               **   The  reporting  persons  making  this  filing  hold  an
                         aggregate  of  4,803,796  Shares,  which is 9.2% of the
                         class of securities. The reporting person on this cover
                         page,  however,  is a  beneficial  owner  only  of  the
                         securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            California
-------------------------------------===========================================
                                     SOLE VOTING POWER
       NUMBER OF              5
                                     -0-
                        -------------===========================================
        SHARES                       SHARED VOTING POWER
     BENEFICIALLY             6
       OWNED BY                      927,200
                        -------------===========================================
                                     SOLE DISPOSITIVE POWER
         EACH                 7
                                     -0-
                        -------------===========================================
      REPORTING                      SHARED DISPOSITIVE POWER
     PERSON WITH              8
                                     927,200
-------------------------------------===========================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            927,200
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                       [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            1.8%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            PN
------------====================================================================


                               Page 2 of 29 Pages






                                       13G

===================
CUSIP No. 126349109
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Farallon Capital Institutional Partners, L.P.
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                                (a) [   ]
                                                                (b) [ X ]**

    2               **   The  reporting  persons  making  this  filing  hold  an
                         aggregate  of  4,803,796  Shares,  which is 9.2% of the
                         class of securities. The reporting person on this cover
                         page,  however,  is a  beneficial  owner  only  of  the
                         securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            California
-------------------------------------===========================================
                                     SOLE VOTING POWER
       NUMBER OF              5
                                     -0-
                        -------------===========================================
        SHARES                       SHARED VOTING POWER
     BENEFICIALLY             6
       OWNED BY                      874,000
                        -------------===========================================
                                     SOLE DISPOSITIVE POWER
         EACH                 7
                                     -0-
                        -------------===========================================
      REPORTING                      SHARED DISPOSITIVE POWER
     PERSON WITH              8
                                     874,000
-------------------------------------===========================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            874,000
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                       [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            1.7%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            PN
------------====================================================================


                               Page 3 of 29 Pages






                                       13G

===================
CUSIP No. 126349109
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Farallon Capital Institutional Partners II, L.P.
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                                (a) [   ]
                                                                (b) [ X ]**

    2               **   The  reporting  persons  making  this  filing  hold  an
                         aggregate  of  4,803,796  Shares,  which is 9.2% of the
                         class of securities. The reporting person on this cover
                         page,  however,  is a  beneficial  owner  only  of  the
                         securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            California
-------------------------------------===========================================
                                     SOLE VOTING POWER
       NUMBER OF              5
                                     -0-
                        -------------===========================================
        SHARES                       SHARED VOTING POWER
     BENEFICIALLY             6
       OWNED BY                      89,400
                        -------------===========================================
                                     SOLE DISPOSITIVE POWER
         EACH                 7
                                     -0-
                        -------------===========================================
      REPORTING                      SHARED DISPOSITIVE POWER
     PERSON WITH              8
                                     89,400
-------------------------------------===========================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            89,400
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                       [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            0.2%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            PN
------------====================================================================


                               Page 4 of 29 Pages






                                       13G

===================
CUSIP No. 126349109
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Farallon Capital Institutional Partners III, L.P.
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                                (a) [   ]
                                                                (b) [ X ]**

    2               **   The  reporting  persons  making  this  filing  hold  an
                         aggregate  of  4,803,796  Shares,  which is 9.2% of the
                         class of securities. The reporting person on this cover
                         page,  however,  is a  beneficial  owner  only  of  the
                         securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            Delaware
-------------------------------------===========================================
                                     SOLE VOTING POWER
       NUMBER OF              5
                                     -0-
                        -------------===========================================
        SHARES                       SHARED VOTING POWER
     BENEFICIALLY             6
       OWNED BY                      95,600
                        -------------===========================================
                                     SOLE DISPOSITIVE POWER
         EACH                 7
                                     -0-
                        -------------===========================================
      REPORTING                      SHARED DISPOSITIVE POWER
     PERSON WITH              8
                                     95,600
-------------------------------------===========================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            95,600
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                       [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            0.2%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            PN
------------====================================================================


                               Page 5 of 29 Pages






                                       13G

===================
CUSIP No. 126349109
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Tinicum Partners, L.P.
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                                (a) [   ]
                                                                (b) [ X ]**

    2               **   The  reporting  persons  making  this  filing  hold  an
                         aggregate  of  4,803,796  Shares,  which is 9.2% of the
                         class of securities. The reporting person on this cover
                         page,  however,  is a  beneficial  owner  only  of  the
                         securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            New York
-------------------------------------===========================================
                                     SOLE VOTING POWER
       NUMBER OF              5
                                     -0-
                        -------------===========================================
        SHARES                       SHARED VOTING POWER
     BENEFICIALLY             6
       OWNED BY                      48,200
                        -------------===========================================
                                     SOLE DISPOSITIVE POWER
         EACH                 7
                                     -0-
                        -------------===========================================
      REPORTING                      SHARED DISPOSITIVE POWER
     PERSON WITH              8
                                     48,200
-------------------------------------===========================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            48,200
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                       [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            0.1%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            PN
------------====================================================================


                               Page 6 of 29 Pages






                                       13G

===================
CUSIP No. 126349109
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Farallon Capital Management, L.L.C.
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                                (a) [   ]
                                                                (b) [ X ]**

    2               **   The  reporting  persons  making  this  filing  hold  an
                         aggregate  of  4,803,796  Shares,  which is 9.2% of the
                         class of securities. The reporting person on this cover
                         page, however, may be deemed a beneficial owner only of
                         the securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            Delaware
-------------------------------------===========================================
                                     SOLE VOTING POWER
       NUMBER OF              5
                                     -0-
                        -------------===========================================
        SHARES                       SHARED VOTING POWER
     BENEFICIALLY             6
       OWNED BY                      2,769,396
                        -------------===========================================
                                     SOLE DISPOSITIVE POWER
         EACH                 7
                                     -0-
                        -------------===========================================
      REPORTING                      SHARED DISPOSITIVE POWER
     PERSON WITH              8
                                     2,769,396
-------------------------------------===========================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            2,769,396
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                       [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            5.3%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IA, OO
------------====================================================================


                               Page 7 of 29 Pages






                                       13G

===================
CUSIP No. 126349109
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Farallon Partners, L.L.C.
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                                (a) [   ]
                                                                (b) [ X ]**

    2               **   The  reporting  persons  making  this  filing  hold  an
                         aggregate  of  4,803,796  Shares,  which is 9.2% of the
                         class of securities. The reporting person on this cover
                         page, however, may be deemed a beneficial owner only of
                         the securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            Delaware
-------------------------------------===========================================
                                     SOLE VOTING POWER
       NUMBER OF              5
                                     -0-
                        -------------===========================================
        SHARES                       SHARED VOTING POWER
     BENEFICIALLY             6
       OWNED BY                      2,034,400
                        -------------===========================================
                                     SOLE DISPOSITIVE POWER
         EACH                 7
                                     -0-
                        -------------===========================================
      REPORTING                      SHARED DISPOSITIVE POWER
     PERSON WITH              8
                                     2,034,400
-------------------------------------===========================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            2,034,400
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                       [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            3.9%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            OO
------------====================================================================


                               Page 8 of 29 Pages






                                       13G

===================
CUSIP No. 126349109
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            David I. Cohen
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                                (a) [   ]
                                                                (b) [ X ]**

    2               **   The  reporting  persons  making  this  filing  hold  an
                         aggregate  of  4,803,796  Shares,  which is 9.2% of the
                         class of securities. The reporting person on this cover
                         page, however, may be deemed a beneficial owner only of
                         the securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
-------------------------------------===========================================
                                     SOLE VOTING POWER
       NUMBER OF              5
                                     -0-
                        -------------===========================================
        SHARES                       SHARED VOTING POWER
     BENEFICIALLY             6
       OWNED BY                      4,803,796
                        -------------===========================================
                                     SOLE DISPOSITIVE POWER
         EACH                 7
                                     -0-
                        -------------===========================================
      REPORTING                      SHARED DISPOSITIVE POWER
     PERSON WITH              8
                                     4,803,796
-------------------------------------===========================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            4,803,796
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                       [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            9.2%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================


                               Page 9 of 29 Pages






                                       13G

===================
CUSIP No. 126349109
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Chun R. Ding
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                                (a) [   ]
                                                                (b) [ X ]**

    2               **   The  reporting  persons  making  this  filing  hold  an
                         aggregate  of  4,803,796  Shares,  which is 9.2% of the
                         class of securities. The reporting person on this cover
                         page, however, may be deemed a beneficial owner only of
                         the securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
-------------------------------------===========================================
                                     SOLE VOTING POWER
       NUMBER OF              5
                                     -0-
                        -------------===========================================
        SHARES                       SHARED VOTING POWER
     BENEFICIALLY             6
       OWNED BY                      4,803,796
                        -------------===========================================
                                     SOLE DISPOSITIVE POWER
         EACH                 7
                                     -0-
                        -------------===========================================
      REPORTING                      SHARED DISPOSITIVE POWER
     PERSON WITH              8
                                     4,803,796
-------------------------------------===========================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            4,803,796
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                       [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            9.2%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================


                               Page 10 of 29 Pages






                                       13G

===================
CUSIP No. 126349109
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Joseph F. Downes
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                                (a) [   ]
                                                                (b) [ X ]**

    2               **   The  reporting  persons  making  this  filing  hold  an
                         aggregate  of  4,803,796  Shares,  which is 9.2% of the
                         class of securities. The reporting person on this cover
                         page, however, may be deemed a beneficial owner only of
                         the securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
-------------------------------------===========================================
                                     SOLE VOTING POWER
       NUMBER OF              5
                                     -0-
                        -------------===========================================
        SHARES                       SHARED VOTING POWER
     BENEFICIALLY             6
       OWNED BY                      4,803,796
                        -------------===========================================
                                     SOLE DISPOSITIVE POWER
         EACH                 7
                                     -0-
                        -------------===========================================
      REPORTING                      SHARED DISPOSITIVE POWER
     PERSON WITH              8
                                     4,803,796
-------------------------------------===========================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            4,803,796
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                       [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            9.2%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================


                               Page 11 of 29 Pages






                                       13G

===================
CUSIP No. 126349109
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            William F. Duhamel
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                                (a) [   ]
                                                                (b) [ X ]**

    2               **   The  reporting  persons  making  this  filing  hold  an
                         aggregate  of  4,803,796  Shares,  which is 9.2% of the
                         class of securities. The reporting person on this cover
                         page, however, may be deemed a beneficial owner only of
                         the securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
-------------------------------------===========================================
                                     SOLE VOTING POWER
       NUMBER OF              5
                                     -0-
                        -------------===========================================
        SHARES                       SHARED VOTING POWER
     BENEFICIALLY             6
       OWNED BY                      4,803,796
                        -------------===========================================
                                     SOLE DISPOSITIVE POWER
         EACH                 7
                                     -0-
                        -------------===========================================
      REPORTING                      SHARED DISPOSITIVE POWER
     PERSON WITH              8
                                     4,803,796
-------------------------------------===========================================
             AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            4,803,796
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                       [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            9.2%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================


                               Page 12 of 29 Pages






                                       13G

===================
CUSIP No. 126349109
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Charles E. Ellwein
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                                (a) [   ]
                                                                (b) [ X ]**

    2               **   The  reporting  persons  making  this  filing  hold  an
                         aggregate  of  4,803,796  Shares,  which is 9.2% of the
                         class of securities. The reporting person on this cover
                         page, however, may be deemed a beneficial owner only of
                         the securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
-------------------------------------===========================================
                                     SOLE VOTING POWER
       NUMBER OF              5
                                     -0-
                        -------------===========================================
        SHARES                       SHARED VOTING POWER
     BENEFICIALLY             6
       OWNED BY                      4,803,796
                        -------------===========================================
                                     SOLE DISPOSITIVE POWER
         EACH                 7
                                     -0-
                        -------------===========================================
      REPORTING                      SHARED DISPOSITIVE POWER
     PERSON WITH              8
                                     4,803,796
-------------------------------------===========================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            4,803,796
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                       [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            9.2%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================


                               Page 13 of 29 Pages






                                       13G

===================
CUSIP No. 126349109
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Richard B. Fried
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                                (a) [   ]
                                                                (b) [ X ]**

    2               **   The  reporting  persons  making  this  filing  hold  an
                         aggregate  of  4,803,796  Shares,  which is 9.2% of the
                         class of securities. The reporting person on this cover
                         page, however, may be deemed a beneficial owner only of
                         the securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
-------------------------------------===========================================
                                     SOLE VOTING POWER
       NUMBER OF              5
                                     -0-
                        -------------===========================================
        SHARES                       SHARED VOTING POWER
     BENEFICIALLY             6
       OWNED BY                      4,803,796
                        -------------===========================================
                                     SOLE DISPOSITIVE POWER
         EACH                 7
                                     -0-
                        -------------===========================================
      REPORTING                      SHARED DISPOSITIVE POWER
     PERSON WITH              8
                                     4,803,796
-------------------------------------===========================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            4,803,796
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                       [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            9.2%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================


                               Page 14 of 29 Pages






                                       13G

===================
CUSIP No. 126349109
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Monica R. Landry
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                                (a) [   ]
                                                                (b) [ X ]**

    2               **   The  reporting  persons  making  this  filing  hold  an
                         aggregate  of  4,803,796  Shares,  which is 9.2% of the
                         class of securities. The reporting person on this cover
                         page, however, may be deemed a beneficial owner only of
                         the securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
-------------------------------------===========================================
                                     SOLE VOTING POWER
       NUMBER OF              5
                                     -0-
                        -------------===========================================
        SHARES                       SHARED VOTING POWER
     BENEFICIALLY             6
       OWNED BY                      4,803,796
                        -------------===========================================
                                     SOLE DISPOSITIVE POWER
         EACH                 7
                                     -0-
                        -------------===========================================
      REPORTING                      SHARED DISPOSITIVE POWER
     PERSON WITH              8
                                     4,803,796
-------------------------------------===========================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            4,803,796
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                       [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            9.2%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================


                               Page 15 of 29 Pages






                                       13G

===================
CUSIP No. 126349109
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            William F. Mellin
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                                (a) [   ]
                                                                (b) [ X ]**

    2               **   The  reporting  persons  making  this  filing  hold  an
                         aggregate  of  4,803,796  Shares,  which is 9.2% of the
                         class of securities. The reporting person on this cover
                         page, however, may be deemed a beneficial owner only of
                         the securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
-------------------------------------===========================================
                                     SOLE VOTING POWER
       NUMBER OF              5
                                     -0-
                        -------------===========================================
        SHARES                       SHARED VOTING POWER
     BENEFICIALLY             6
       OWNED BY                      4,803,796
                        -------------===========================================
                                     SOLE DISPOSITIVE POWER
         EACH                 7
                                     -0-
                        -------------===========================================
      REPORTING                      SHARED DISPOSITIVE POWER
     PERSON WITH              8
                                     4,803,796
-------------------------------------===========================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            4,803,796
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                       [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            9.2%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================


                               Page 16 of 29 Pages






                                       13G

===================
CUSIP No. 126349109
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Stephen L. Millham
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                                (a) [   ]
                                                                (b) [ X ]**

    2               **   The  reporting  persons  making  this  filing  hold  an
                         aggregate  of  4,803,796  Shares,  which is 9.2% of the
                         class of securities. The reporting person on this cover
                         page, however, may be deemed a beneficial owner only of
                         the securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
-------------------------------------===========================================
                                     SOLE VOTING POWER
       NUMBER OF              5
                                     -0-
                        -------------===========================================
        SHARES                       SHARED VOTING POWER
     BENEFICIALLY             6
       OWNED BY                      4,803,796
                        -------------===========================================
                                     SOLE DISPOSITIVE POWER
         EACH                 7
                                     -0-
                        -------------===========================================
      REPORTING                      SHARED DISPOSITIVE POWER
     PERSON WITH              8
                                     4,803,796
-------------------------------------===========================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            4,803,796
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                       [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            9.2%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================


                               Page 17 of 29 Pages






                                       13G

===================
CUSIP No. 126349109
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Rajiv A. Patel
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                                (a) [   ]
                                                                (b) [ X ]**

    2               **   The  reporting  persons  making  this  filing  hold  an
                         aggregate  of  4,803,796  Shares,  which is 9.2% of the
                         class of securities. The reporting person on this cover
                         page, however, may be deemed a beneficial owner only of
                         the securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
-------------------------------------===========================================
                                     SOLE VOTING POWER
       NUMBER OF              5
                                     -0-
                        -------------===========================================
        SHARES                       SHARED VOTING POWER
     BENEFICIALLY             6
       OWNED BY                      4,803,796
                        -------------===========================================
                                     SOLE DISPOSITIVE POWER
         EACH                 7
                                     -0-
                        -------------===========================================
      REPORTING                      SHARED DISPOSITIVE POWER
     PERSON WITH              8
                                     4,803,796
-------------------------------------===========================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            4,803,796
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                       [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            9.2%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================


                               Page 18 of 29 Pages






                                       13G

===================
CUSIP No. 126349109
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Derek C. Schrier
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                                (a) [   ]
                                                                (b) [ X ]**

    2               **   The  reporting  persons  making  this  filing  hold  an
                         aggregate  of  4,803,796  Shares,  which is 9.2% of the
                         class of securities. The reporting person on this cover
                         page, however, may be deemed a beneficial owner only of
                         the securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
-------------------------------------===========================================
                                     SOLE VOTING POWER
       NUMBER OF              5
                                     -0-
                        -------------===========================================
        SHARES                       SHARED VOTING POWER
     BENEFICIALLY             6
       OWNED BY                      4,803,796
                        -------------===========================================
                                     SOLE DISPOSITIVE POWER
         EACH                 7
                                     -0-
                        -------------===========================================
      REPORTING                      SHARED DISPOSITIVE POWER
     PERSON WITH              8
                                     4,803,796
-------------------------------------===========================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            4,803,796
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                       [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            9.2%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================


                               Page 19 of 29 Pages






                                       13G

===================
CUSIP No. 126349109
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Thomas F. Steyer
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                                (a) [   ]
                                                                (b) [ X ]**

    2               **   The  reporting  persons  making  this  filing  hold  an
                         aggregate  of  4,803,796  Shares,  which is 9.2% of the
                         class of securities. The reporting person on this cover
                         page, however, may be deemed a beneficial owner only of
                         the securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
-------------------------------------===========================================
                                     SOLE VOTING POWER
       NUMBER OF              5
                                     -0-
                        -------------===========================================
        SHARES                       SHARED VOTING POWER
     BENEFICIALLY             6
       OWNED BY                      4,803,796
                        -------------===========================================
                                     SOLE DISPOSITIVE POWER
         EACH                 7
                                     -0-
                        -------------===========================================
      REPORTING                      SHARED DISPOSITIVE POWER
     PERSON WITH              8
                                     4,803,796
-------------------------------------===========================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            4,803,796
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                       [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            9.2%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================


                               Page 20 of 29 Pages






                                       13G

===================
CUSIP No. 126349109
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Mark C. Wehrly
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                                (a) [   ]
                                                                (b) [ X ]**

    2               **   The  reporting  persons  making  this  filing  hold  an
                         aggregate  of  4,803,796  Shares,  which is 9.2% of the
                         class of securities. The reporting person on this cover
                         page, however, may be deemed a beneficial owner only of
                         the securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
-------------------------------------===========================================
                                     SOLE VOTING POWER
       NUMBER OF              5
                                     -0-
                        -------------===========================================
        SHARES                       SHARED VOTING POWER
     BENEFICIALLY             6
       OWNED BY                      4,803,796
                        -------------===========================================
                                     SOLE DISPOSITIVE POWER
         EACH                 7
                                     -0-
                        -------------===========================================
      REPORTING                      SHARED DISPOSITIVE POWER
     PERSON WITH              8
                                     4,803,796
-------------------------------------===========================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            4,803,796
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                       [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            9.2%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================


                               Page 21 of 29 Pages





         This  Amendment  No. 1 to Schedule  13G (this  "Amendment")  amends the
Schedule 13G initially filed on April 9, 2003 (collectively, with all amendments
thereto, the "Schedule 13G").

         Preliminary  Note:  This  Amendment  is  being  filed to  reflect  that
effective  on  January 1, 2004,  each of Charles E.  Ellwein  and Rajiv A. Patel
became a managing member of Farallon  Capital  Management,  L.L.C.  and Farallon
Partners,  L.L.C., two of the Reporting Persons listed below, and as such may be
deemed to be a beneficial  owner of the  securities  beneficially  owned by such
entities as of such date.

Item 1.  Issuer
         ------

         (a) Name of Issuer:
             --------------

             CSG Systems International, Inc. (the "Company")

         (b) Address of Issuer's Principal Executive Offices:
             -----------------------------------------------

             7887 East Belleview, Suite 1000, Englewood, Colorado 80111

Item 2.  Identity And Background
         -----------------------

         Title Of Class Of Securities And CUSIP Number (Item 2(d) and (e))
         ----------------------------------------------------------------

         This statement  relates to Shares of Common Stock,  par value $0.01 per
share  (the  "Shares")  of the  Company.  The  CUSIP  number  of the  Shares  is
126349109.

         Name Of Persons Filing, Address Of Principal Business Office And
         ----------------------------------------------------------------
         Citizenship (Item 2(a), (b) and (c))
         ------------------------------------

         This statement is filed by the entities and persons  listed below,  all
of whom together are referred to herein as the "Reporting Persons."

         The Partnerships
         ----------------

                  (i)    Farallon Capital Partners, L.P., a California limited
                         partnership ("FCP"), with respect to the Shares held by
                         it;

                  (ii)   Farallon Capital Institutional Partners, L.P., a
                         California limited partnership ("FCIP"), with respect
                         to the Shares held by it;


                              Page 22 of 29 Pages





                  (iii)  Farallon Capital Institutional Partners II, L.P., a
                         California limited partnership ("FCIP II"), with
                         respect to the Shares held by it;

                  (iv)   Farallon Capital Institutional Partners III, L.P., a
                         Delaware limited partnership ("FCIP III"), with respect
                         to the Shares held by it; and

                  (v)    Tinicum Partners, L.P., a New York limited partnership
                         ("Tinicum"), with respect to the Shares held by it.

         FCP,  FCIP,  FCIP II,  FCIP III and Tinicum  are  together  referred to
herein as the "Partnerships."

         The Management Company
         ----------------------

                  (vi)   Farallon Capital Management, L.L.C., a Delaware limited
                         liability company (the "Management Company"), with
                         respect to the Shares held by certain accounts managed
                         by the Management Company (the "Managed Accounts").

         The General Partner Of The Partnerships
         ---------------------------------------

                  (vii)  Farallon Partners, L.L.C., a Delaware limited liability
                         company which is the general partner of each of the
                         Partnerships (the "General Partner"), with respect to
                         the Shares held by each of the Partnerships.

         The Managing Members Of the General Partner And The Management Company
         ----------------------------------------------------------------------

                  (viii) The following persons who are managing members of both
                         the General Partner and the Management Company, with
                         respect to the Shares held by the Partnerships and the
                         Managed Accounts: David I. Cohen ("Cohen"), Chun R.
                         Ding ("Ding"), Joseph F. Downes ("Downes"), William F.
                         Duhamel ("Duhamel"), Charles E. Ellwein ("Ellwein"),
                         Richard B. Fried ("Fried"), Monica R. Landry
                         ("Landry"), William F. Mellin ("Mellin"), Stephen L.
                         Millham ("Millham"), Rajiv A. Patel ("Patel"), Derek C.
                         Schrier ("Schrier"), Thomas F. Steyer ("Steyer") and
                         Mark C. Wehrly ("Wehrly").

         Cohen, Ding, Downes, Duhamel,  Ellwein, Fried, Landry, Mellin, Millham,
Patel,  Schrier,  Steyer  and  Wehrly  are  together  referred  to herein as the
"Individual Reporting Persons."

         The  citizenship of each of the  Partnerships,  the General Partner and
the  Management  Company is set forth above.  Each of the  Individual  Reporting
Persons is a United States citizen. The address of the principal business office
of each of the Reporting Persons is c/o Farallon Capital Management, L.L.C., One
Maritime Plaza, Suite 1325, San Francisco, California 94111.


                              Page 23 of 29 Pages





Item 3.  If This Statement Is Filed Pursuant To Sections 240.13d-1(b) or
         ---------------------------------------------------------------
         240.13d-2(b) or (c), Check Whether The Person Filing Is An Entity
         -----------------------------------------------------------------
         Specified in (a) - (j):
         ----------------------

                  Not Applicable.

         If This Statement Is Filed Pursuant To Section 240.13d-1(c),
         -----------------------------------------------------------
         Check This Box. [X]
         --------------

Item 4.  Ownership
         ---------

         The  information  required  by Items 4(a) - (c) and set forth in Rows 5
through 11 of the cover page for each  Reporting  Person hereto is  incorporated
herein by reference for each such Reporting Person.

         The Shares reported hereby for the  Partnerships  are owned directly by
the Partnerships  and those reported by the Management  Company on behalf of the
Managed  Accounts  are owned  directly  by the  Managed  Accounts.  The  General
Partner,  as  general  partner  to the  Partnerships,  may be  deemed  to be the
beneficial  owner of all such Shares owned by the  Partnerships.  The Management
Company, as investment adviser to the Managed Accounts,  may be deemed to be the
beneficial  owner  of all  such  Shares  owned  by  the  Managed  Accounts.  The
Individual  Reporting  Persons,  as managing members of both the General Partner
and/or the Management Company,  may each be deemed to be the beneficial owner of
all such Shares held by the Partnerships and the Managed  Accounts.  Each of the
Management  Company,  the General Partner and the Individual  Reporting  Persons
hereby disclaims any beneficial ownership of any such Shares.

Item 5.  Ownership Of Five Percent Or Less Of A Class
         --------------------------------------------

                  Not Applicable.

Item 6.  Ownership Of More Than Five Percent On Behalf Of Another Person
         ---------------------------------------------------------------

                  Not Applicable.

Item 7.  Identification And Classification Of The Subsidiary Which Acquired The
         ----------------------------------------------------------------------
         Security Being Reported On By The Parent Holding Company
         --------------------------------------------------------

                  Not Applicable.

Item 8.  Identification And Classification Of Members Of The Group
         ---------------------------------------------------------

                  The Reporting Persons are filing this Schedule 13G pursuant to
         Rule  13d-1(c).  Consistent  with  Item 2 of the  cover  page  for each
         Reporting  Person above,  the Reporting  Persons  neither  disclaim nor
         affirm the existence of a group among them.


                              Page 24 of 29 Pages





Item 9.  Notice Of Dissolution Of Group
         ------------------------------

                  Not Applicable.

Item 10. Certification
         -------------

                  By signing  below I certify  that, to the best of my knowledge
         and belief, the securities  referred to above were not acquired and are
         not  held  for the  purpose  of or  with  the  effect  of  changing  or
         influencing  the control of the issuer of the  securities  and were not
         acquired and are not held in connection with or as a participant in any
         transaction having that purpose or effect.


                              Page 25 of 29 Pages






                                   SIGNATURES
                                   ----------

         After  reasonable  inquiry and to the best of our knowledge and belief,
the  undersigned  certify that the  information  set forth in this  statement is
true, complete and correct.

Dated:  January 9, 2004

                            /s/ Joseph F. Downes
                            ----------------------------------------
                            FARALLON PARTNERS, L.L.C.,
                            on its own behalf and as General Partner of
                            FARALLON CAPITAL PARTNERS, L.P.,
                            FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P.,
                            FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P.,
                            FARALLON CAPITAL INSTITUTIONAL PARTNERS III, L.P.,
                            And TINICUM PARTNERS, L.P.,
                            By Joseph F. Downes
                            Managing Member

                            /s/ Joseph F. Downes
                            ----------------------------------------
                            FARALLON CAPITAL MANAGEMENT, L.L.C.,
                            By Joseph F. Downes
                            Managing Member

                            /s/ Joseph F. Downes
                            ----------------------------------------
                            Joseph F. Downes, individually and as attorney-in-
                            fact for each of David I. Cohen, Chun R. Ding,
                            William F. Duhamel, Charles E. Ellwein, Richard B.
                            Fried, Monica R. Landry, William F. Mellin, Stephen
                            L. Millham, Rajiv A. Patel, Derek C. Schrier, Thomas
                            F. Steyer and Mark C. Wehrly.

         The Powers of Attorney,  each  executed by Cohen,  Mellin,  Millham and
Steyer  authorizing  Downes to sign and file this  Schedule 13G on each person's
behalf, which were filed with Amendment No. 1 to the Schedule 13D filed with the
Securities  and  Exchange  Commission  on January 20,  1998,  by such  Reporting
Persons with respect to the Units of Spiros  Development  Corporation  II, Inc.,
are hereby incorporated by reference.  The Powers of Attorney,  each executed by
Duhamel and Fried authorizing  Downes to sign and file this Schedule 13G on each
person's behalf, which were filed with Amendment No. 7 to the Schedule 13D filed
with  the  Securities  and  Exchange  Commission  on  February  9,  1999 by such
Reporting Persons with respect to the Callable Class A Common Stock of Crescendo
Pharmaceuticals  Corporation, are hereby incorporated by reference. The Power of
Attorney  executed  by Mark C. Wehrly  authorizing  Downes to sign and file this
Schedule 13G on his behalf, which was filed with Amendment No. 4 to the Schedule
13D filed with the  Securities  and Exchange  Commission on January 18, 2000, by
such  Reporting  Person  with  respect to the Class A Common  Stock of  Momentum
Business Applications,  Inc., is hereby incorporated by reference.  The Power of
Attorney executed by Monica R. Landry authorizing  Downes, as well as Steyer and
Cohen,  to


                              Page 26 of 29 Pages





sign and file this Schedule 13G on her behalf, which was filed with the Schedule
13G filed with the  Securities  and Exchange  Commission on January 22, 2001, by
such   Reporting   Person  with  respect  to  the  Common  Stock  of  Korn/Ferry
International  is hereby  incorporated  by  reference.  The  Powers of  Attorney
executed by each of Chun R. Ding and Derek C. Schrier authorizing Downes to sign
and file this Schedule 13G on his behalf,  which was filed with  Amendment No. 1
to the Schedule 13D filed with the Securities and Exchange Commission on July 2,
2003,  by such  Reporting  Person  with  respect  to the  Common  Stock of Salix
Pharmaceuticals,  Ltd.,  is hereby  incorporated  by  reference.  The  Powers of
Attorney  executed by each of Charles E. Ellwein and Rajiv A. Patel  authorizing
Downes to sign and file this  Schedule  13G on his behalf,  which was filed with
Amendment  No. 4 to the  Schedule  13G filed with the  Securities  and  Exchange
Commission  on  January 8, 2004 by such  Reporting  Person  with  respect to the
Common Stock of  Catalytica  Energy  Systems,  Inc., is hereby  incorporated  by
reference.


                              Page 27 of 29 Pages






                                  EXHIBIT INDEX


EXHIBIT 1                                Joint Acquisition Statement Pursuant to
                                         Section 240.13D-(f)(1)




                              Page 28 of 29 Pages






                                                                       EXHIBIT 1
                                                                              to
                                                                    SCHEDULE 13G

                           JOINT ACQUISITION STATEMENT
                       PURSUANT TO SECTION 240.13D-(f)(1)
                       ----------------------------------

         The undersigned  acknowledge and agree that the foregoing  statement on
Schedule  13G is  filed  on  behalf  of each of the  undersigned  and  that  all
subsequent amendments to this statement on Schedule 13G shall be filed on behalf
of each of the  undersigned  without the  necessity of filing  additional  joint
acquisition   statements.   The  undersigned  acknowledge  that  each  shall  be
responsible for the timely filing of such  amendments,  and for the completeness
and accuracy of the information concerning him, her or it contained therein, but
shall not be responsible  for the  completeness  and accuracy of the information
concerning the other  entities or persons,  except to the extent that he, she or
it knows or has reason to believe that such information is inaccurate.

Dated:  January 9, 2004

                            /s/ Joseph F. Downes
                            ----------------------------------------
                            FARALLON PARTNERS, L.L.C.,
                            on its own behalf and as General Partner of
                            FARALLON CAPITAL PARTNERS, L.P.,
                            FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P.,
                            FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P.,
                            FARALLON CAPITAL INSTITUTIONAL PARTNERS III, L.P.,
                            And TINICUM PARTNERS, L.P.,
                            By Joseph F. Downes,
                            Managing Member


                            /s/ Joseph F. Downes
                            ----------------------------------------
                            FARALLON CAPITAL MANAGEMENT, L.L.C.,
                            By Joseph F. Downes,
                            Managing Member


                            /s/ Joseph F. Downes
                            ----------------------------------------
                            Joseph F. Downes, individually and as attorney-in-
                            fact for each of David I. Cohen, Chun R. Ding,
                            William F. Duhamel, Charles E. Ellwein, Richard B.
                            Fried, Monica R. Landry, William F. Mellin, Stephen
                            L. Millham, Rajiv A. Patel, Derek C. Schrier, Thomas
                            F. Steyer and Mark C. Wehrly.


                              Page 29 of 29 Pages