SECURITIES AND EXCHANGE COMMISSION

                            WASHINGTON, D.C.   20549


                                 FORM 10-Q


                   QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                  FOR THE QUARTER ENDED NOVEMBER 30, 1999

                         COMMISSION FILE NUMBER 0-9061


                             ELECTRO RENT CORPORATION
              Exact name of registrant as specified in its charter


        CALIFORNIA                                    95-2412961
(State or other jurisdiction of                   (I.R.S. Employer
incorporation or organization)                   Identification No.)


       6060 SEPULVEDA BOULEVARD
         VAN NUYS, CALIFORNIA                          91411-2501
(Address of principal executive offices)             (Zip code)

                                 (818)  786-2525
              (Registrant's telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.

                            Yes       X    NO

At January 10, 2000 registrant had 24,613,635 shares of common stock
outstanding.

<PAGE>
                              ELECTRO RENT CORPORATION

                                      FORM 10-Q

                                  NOVEMBER 30, 1999

                                  TABLE OF CONTENTS


                                                                           Page
Part I:     FINANCIAL INFORMATION

      Condensed Consolidated Statements of Income for the Three
       and Six Months Ended November 30, 1999 and 1998                        3

      Condensed Consolidated Balance Sheets at
       November 30, 1999 and May 31, 1999                                     4

      Condensed Consolidated Statements of Cash Flows for the
       Six Months Ended November 30, 1999 and 1998                            5

      Notes to Condensed Consolidated Financial Statements                    6

      Management's Discussion and Analysis of Financial
        Condition and Results of Operations                                   8

Part II:    OTHER INFORMATION                                                13

SIGNATURES                                                                   14


                                     Page 2
<PAGE>
<TABLE>
Part I.  FINANCIAL INFORMATION
-----------------------------------
Item 1. Financial Statements

                              ELECTRO RENT CORPORATION

                     CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                   (Unaudited) (000 omitted except per share data)
<CAPTION>
                                    Three Months Ended      Six Months Ended
                                   November 30             November 30
                                     1999        1998        1999        1998
                                   --------    --------    ---------   ---------
<S>                                <C>         <C>         <C>         <C>
Revenues:
  Rentals and leases             $  52,025   $  60,538   $  104,565  $  122,704
  Sales of equipment
    and other revenues               9,440       8,455       19,653      18,890
                                   --------    --------    ---------   ---------
    Total revenues                  61,465      68,993      124,218     141,594
                                   --------    --------    ---------   ---------
Costs and expenses:
  Depreciation of equipment         25,233      26,880       50,276      54,019
  Costs of revenues other
    than depreciation                7,820       7,211       16,492      19,302
  Selling, general and
    administrative expenses         17,011      20,446       33,937      43,606
  Interest                           1,555       3,347        3,242       7,200
                                   --------    --------    ---------   ---------
    Total costs and expenses        51,619      57,884      103,947     124,127
                                   --------    --------    ---------   ---------
Income before income taxes           9,846      11,109       20,271      17,467

Income taxes                         3,741       4,554        7,702       7,161
                                   --------    --------    ---------   ---------
Net income                       $   6,105   $   6,555   $   12,569  $   10,306
                                   ========    ========    =========   =========
Earnings per share:
  Basic                          $    0.25   $    0.27   $     0.51  $     0.42
  Diluted                        $    0.24   $    0.26   $     0.50  $     0.41

Average shares used in
  per share calculation:
  Basic                             24,536      24,431       24,510      24,425
  Diluted                           24,975      24,934       24,967      25,086



<FN>
                              See accompanying notes to
                    condensed consolidated financial statements.
                                     Page 3
<PAGE>

</TABLE>
<TABLE>
                              ELECTRO RENT CORPORATION

                        CONDENSED CONSOLIDATED BALANCE SHEETS
                              (Unaudited) (000 omitted)

                                       ASSETS
<CAPTION>
                                                          November 30,  May 31,
                                                              1999        1999
                                                           ---------   ---------
<S>                                                        <C>         <C>
Cash                                                     $      864  $    4,039
Accounts receivable, net
  of allowance for doubtful accounts                         38,012      45,874
Rental and lease equipment, net
  of accumulated depreciation                               214,556     229,317
Other property, net of accumulated
  depreciation and amortization                              21,647      22,651
Goodwill and intangibles, net of amortization                60,594      61,469
Other                                                         5,577       5,358
                                                           ---------   ---------
                                                         $  341,250  $  368,708
                                                           =========   =========

                        LIABILITIES AND SHAREHOLDERS' EQUITY

Liabilities:
  Bank borrowings                                        $   68,400  $  107,500
  Accounts payable                                           23,398      21,555
  Accrued expenses                                           23,584      26,725
  Deferred income taxes                                      16,830      16,754
                                                           ---------   ---------
    Total liabilities                                       132,212     172,534
                                                           ---------   ---------
Shareholders' equity:
  Common stock                                               10,805      10,510
  Retained earnings                                         198,233     185,664
                                                           ---------   ---------
    Total shareholders' equity                              209,038     196,174
                                                           ---------   ---------
                                                         $  341,250  $  368,708
                                                           =========   =========
<FN>
                              See accompanying notes to
                    condensed consolidated financial statements.

</TABLE>
                                     Page 4
<PAGE>
                              ELECTRO RENT CORPORATION

                   CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                              (Unaudited) (000 omitted)
<TABLE>
<CAPTION>
                                                           Six Months Ended
                                                           November 30,
                                                              1999        1998
                                                           ---------   ---------
<S>                                                        <C>         <C>
Cash flows from operating activities:
  Net income                                             $   12,569  $   10,306
  Adjustments to reconcile net income to net cash
    provided by operating activities:
    Depreciation and amortization                            52,749      56,500
    Provision for losses on accounts receivable                 593       1,434
    Gain on sale of equipment                                (2,996)       (483)
    Change in operating assets and liabilities:
      Decrease in accounts receivable                         7,269       5,765
      Decrease (increase) in other assets                      (609)      1,445
      Increase (decrease) in accounts payable                (2,354)      5,758
      Decrease in accrued expenses                           (3,141)       (781)
      Increase (decrease) in deferred income taxes               76        (214)
                                                           ---------   ---------
      Net cash provided by operating activities              64,156      79,730
                                                           ---------   ---------
Cash flows from investing activities:
  Proceeds from sale of equipment                            17,087      16,261
  Payments for purchase of rental and lease equipment       (45,395)    (45,845)
  Payments for purchase of other property                      (218)       (262)
                                                           ---------   ---------
      Net cash used in investing activities                 (28,526)    (29,846)
                                                           ---------   ---------
Cash flows from financing activities:
  Decrease in short-term bank borrowings                    (39,100)    (49,900)
  Proceeds from issuance of common stock                        295          39
                                                           ---------   ---------
      Net cash used in financing activities                 (38,805)    (49,861)
                                                           ---------   ---------
Net increase (decrease) in cash                              (3,175)         23
Cash at beginning of period                                   4,039       2,281
                                                           ---------   ---------
Cash at end of period                                    $      864  $    2,304
                                                           =========   =========
<FN>
                              See accompanying notes to
                    condensed consolidated financial statements.
</TABLE>

                                     Page 5
<PAGE>
             NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                (UNAUDITED)

Note 1 -- Basis of Presentation
-----------------------------------
     The unaudited consolidated financial statements are condensed and do not
contain all information required by generally accepted accounting principles
to be included in a full set of financial statements.  The condensed
consolidated financial statements include Electro Rent Corporation and the
accounts of its wholly owned subsidiaries. All intercompany balances and
transactions have been eliminated.  The information furnished reflects all
adjustments which are, in the opinion of management, necessary to a fair
statement of the financial position and the results of operations of the
Company.  All such adjustments are of a normal recurring nature. The
preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions
that affect the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial statements and
the reported amounts of revenues and expenses during the reporting period.
Actual results could differ from those estimates.


Note 2 -- Interest and Income Taxes Paid
-------------------------------------------
      Total interest paid during the six month periods ended November 30, 1999
and 1998 was $2,960,000 and $7,205,000, respectively.  Total income taxes paid
during the six month period ended November 30, 1999 were $11,215,000 compared
to $6,523,000 during the same period in the prior year.  Interest and income
taxes paid will vary from amounts recorded in the financial statements.

Note 3 -- Noncash Investing and Financing Activities
-------------------------------------------------------
      The Company acquired equipment totaling $19,173,000 and $14,977,000 as
of November 30, 1999 and May 31, 1999, respectively, and $13,186,000 and
$19,231,000 as of November 30, 1998 and May 31, 1998, respectively, payable
during subsequent quarters.

Note 4 -- Capital Leases
----------------------------
      The Company has certain customer leases providing bargain purchase
options with a portion of lease revenue deferred until option exercise.   At
November 30, 1999 investment in sales-type leases of $1,320,000 net of
deferred interest of $74,000 is included in other assets.  Interest income is
recognized over the life of the lease using the interest method.

Note 5 -- Derivative Positions
----------------------------
      The Company has entered into interest rate protection agreements. The
Company's exposure under these agreements is limited to the impact of variable
interest rate fluctuations and the periodic settlement of amounts due under
these agreements if the other parties fail to perform.  The Company does not
anticipate nonperformance by the counterparties, which are major financial
institutions.

The following interest rate protection agreements were held as of November 30,
1999 (in thousands, except percentages):
<TABLE>

                                   Notional                            Interest
Description                         Amount     Expiration Dates            Rate
<S>                                <C>         <C>                     <C>
Interest rate cap agreement      $  25,000     December 1999              7.000%
Interest rate cap agreement         25,000     December 1999              7.000%
Interest rate cap agreement         25,000     December 1999              7.000%
Interest rate swap agreement        25,000     December 2000              5.939%
                                   --------
                                 $ 100,000
</TABLE>                           --------
<PAGE>
Item 2.     Management's Discussion and Analysis of Financial Condition and
                  Results of Operations

The following discussion addresses the financial condition of the Company as
of November 30, 1999 and the results of operations for the three and six month
periods ended November 30, 1999  and 1998.  This discussion should be read in
conjunction with the Management's Discussion and Analysis section included in
the Company's 1999 Annual Report on Form 10-K (pages  15-18) to which the
reader is directed for additional information.


Results of Operations

Comparison of Three Months Ended November 30, 1999 and 1998

Total revenues for the three months ended November 30, 1999 decreased 10.9% to
$61.5 million from $69.0 million, primarily as a result of continuing
attrition of the TMS business acquired in November 1997 and a generally weak
PC market during the last twelve months.  Rental and lease revenues decreased
14.1% to $52.0 million, largely for the reasons noted above, and sales of
equipment and other revenues increased 11.6% to $9.4 million.

Depreciation of equipment increased from 44.4% of rental and lease revenues in
the second quarter of fiscal 1999 to 48.5% of rental and lease revenues in the
second quarter of fiscal 2000.  This increase is primarily due to lower
personal computer utilization and an acceleration of depreciation for personal
computers which was implemented at the beginning of fiscal 1999.

Costs of revenues other than depreciation primarily includes the cost of
equipment sales, which decreased from 82.6% of equipment sales in the second
quarter of fiscal 1999 to 80.7% of equipment sales in the second quarter of
fiscal 2000.  This decrease is primarily attributable to a more normal sale
activity for the current quarter.

Selling, general and administrative expenses totaled $17.0 million for the
second quarter of fiscal 2000, or 27.6% of revenues, as compared to $20.4
million, or 29.6% of revenues, for the second quarter of fiscal 1999.  This
decrease of the expense ratio reflects revenue declines experienced during the
last twelve months, which were offset in greater proportion by cost savings
resulting from organizational changes, including the reduction of excess
capacity.

As a result of the changes in revenues, operating costs and expenses discussed
above, earnings before interest and taxes were $11.4 million or 18.5% of total
revenues in the second quarter of fiscal 2000 compared to $14.5 million or
21.0% of total revenues in the second quarter of fiscal 1999.

Interest expense decreased to $1.6 million in the second quarter of fiscal
2000 from $3.3 million in the second quarter of fiscal 1999.  This decrease is
primarily due to a reduction of the Company's loans with various banks from
$177.0 million at November 30, 1998 to $68.4 million at November 30, 1999.






Comparison of Six Months Ended November 30, 1999 and 1998

Total revenues for the six months ended November 30, 1999 decreased 12.3% to
$124.2 million from $141.6 million, primarily as a result of continuing
attrition of the TMS business acquired in November 1997 and a generally weak
PC market during the last twelve months.  Rental and lease revenues decreased
14.8% to $104.6 million, largely for the reasons noted above, and sales of
equipment and other revenues increased 4.0% to $19.7 million.

Depreciation of equipment increased from 44.0% of rental and lease revenues in
the first half of fiscal 1999 to 48.1% of rental and lease revenues in the
first half of fiscal 2000.  This increase is primarily due to lower personal
computer utilization and an acceleration of depreciation for personal
computers which was implemented at the beginning of fiscal 1999.

Costs of revenues other than depreciation primarily includes the cost of
equipment sales, which decreased from 97.0% of equipment sales in the first
half of fiscal 1999 to 82.5% of equipment sales in the first half of fiscal
2000.  This decrease is primarily attributable to a more normal sale activity
for the current year.

Selling, general and administrative expenses totaled $33.9 million for the
first half of fiscal 2000, or 27.3% of revenues, as compared to $43.6 million,
or 30.8% of revenues, for the first half of fiscal 1999.  This decrease of
the expense ratio reflects revenue declines experienced during the last twelve
months, which were offset in greater proportion by cost savings resulting from
organizational changes, including the reduction of excess capacity.

As a result of the changes in revenues, operating costs and expenses discussed
above, earnings before interest and taxes were $23.5 million or 18.9% of total
revenues in the first half of fiscal 2000 compared to $24.7 million or 17.4%
of total revenues in the first half of fiscal 1999.

Interest expense decreased to $3.2 million in the first half of fiscal 2000
from $7.2 million in the first half of fiscal 1999.  This decrease is
primarily due to a reduction of the Company's loans with various banks from
$177.0 million at November 30, 1998 to $68.4 million at November 30, 1999.


Liquidity and Capital Resources

The Company's primary capital requirements are purchases of rental and lease
equipment and debt service.  The Company purchases equipment throughout each
year to replace equipment which has been sold and to maintain adequate levels
of rental equipment to meet existing and new customer needs.  The market for
personal computers has declined during the last twelve months and this has
been reflected in lower purchases of equipment.  However, during the first
half of fiscal 2000, increased purchases of equipment were made to support
some areas of growth for both personal computers and test and measurement
equipment.  In spite of these increased purchases, bank borrowings are
expected to continue declining during fiscal 2000.

During the six months ended November 30, 1999 and 1998 net cash provided by
operating activities was $64.2 million and $79.7 million, respectively.  The
decrease in fiscal 2000 results primarily from lower earnings before
depreciation and gain on sale of equipment and decreases in accounts payable
and accrued expenses.  During the six months ended November 30, 1999 and 1998
net cash used in investing activities was $28.5 million and $29.8 million,
respectively.  This decrease is primarily attributable to a lower level of
payments for equipment purchases.  During the first six months of fiscal 2000
net cash used in financing activities was $38.8 million, compared to $49.9
million in the first six months of fiscal 1999, reflecting a decline in
repayments of bank borrowings.

The Company has available a revolving line of credit of $83.0 million, subject
to certain borrowing base restrictions, to meet equipment acquisition needs as
well as working capital and general corporate requirements.  The Company had
borrowings of $68.4 million under the Credit Facility at November 30, 1999.

Year 2000 Compliance

General.  The computer systems issue relating to dates beyond 1999 is the
result of many computer programs being written to use and store dates with only
the last two digits of the applicable year.  As a result, these programs may
assume that all two-digit dates are twentieth century dates.  This could result
in system failure, anomalous system behavior or incorrect system reporting.
System failure could, in turn, temporarily affect the Company's ability to
process customer transactions, interface with vendors and engage in similar
normal business activities.

Prior to Y2000, the Company completed implementation of its plan to address
all known aspects of the issue, with immaterial associated costs.  During the
first two weeks of Y2000, the Company assessed how it was impacted.

Software Information Systems.  Software information systems consist of the
Company's base financial and operations system (internally-developed PERFECT
system), other smaller scale software applications and other programs
developed internally.  All of these systems were found to be Year 2000
compliant.

Vendor Provided Computer Hardware and Operating Systems.  Vendor provided
computer hardware and operating systems include all data center equipment (Sun
Microsystems Enterprise 6000) and networks (Novell and Microsoft NT).  All of
these systems were found to be Year 2000 compliant.

Communications Systems.  Communications systems include all data center
equipment and software systems used to support external communications with
customers, employees, suppliers and business partners, and all corporate
equipment and software systems used to support internal business management
communications.  Corporate and field office communications systems were found
to be Year 2000 compliant.

Suppliers and Other Business Partners.  This area of the plan called for all
significant suppliers and other business partners to be monitored for Year 2000
readiness.  The Company is not currently aware of any single vendor or business
partner with Year 2000 compliance issues that could have a material impact on
the Company.   The Company can provide no assurance that Year 2000 compliance
was successfully implemented by all of its suppliers.

Rental and Lease Equipment Pool.  The Company has reviewed its rental and
lease equipment pool to determine whether its use and market value may be
materially adversely affected by the Year 2000 conversion.  The Company may
encounter Year 2000 risk as a result of the Year 2000 failure of equipment
rented, leased or sold by the Company.  The Company may face claims from
customers and their end users arising in connection with bodily injury,
property damage and business interruption as a result of a Year 2000 failure
in equipment provided by the Company.  Based on the Company's standard rental
and lease agreements, the Company believes that it would not be liable for
such claims.  However, there can be no assurance that such claims will not be
brought against the Company.

Additionally, Year 2000 may have an impact on the fair market value of the
Company's rental and lease equipment pool for which the manufacturer does not
make available a Year 2000 compliance upgrade path or in the event an available
Year 2000 upgrade is cost prohibitive relative to the market value of the
equipment.  Although the Company is still in the process of evaluating any
potential Year 2000 market value risks, nothing has come to the Company's
attention that would lead it to believe that the amounts the Company will
ultimately realize would result in gross margins materially different from
current levels.

Contingency Planning.  The Company determined that a comprehensive contingency
plan was not required to address the risk of operational problems and costs
likely to result from a failure by the Company or by a supplier or business
partner to address Year 2000 readiness.  The Company believes that failure
will not alone adversely affect the continuity of the core business.  The
Company believes it is substantially Year 2000 compliant and that business
risks have been minimized.  However, there can be no guarantee that Year 2000
compliance issues not yet identified or fully addressed will not materially
affect the Company's operations or expose it to third party liability.


Qualitative And Quantitative Market Risk Disclosures

The Company's primary market risk exposure is interest rate risk, primarily
related to its borrowings under its unsecured revolving credit facility.
However, a changing interest rate environment does not necessarily impact the
Company's margins since the effects of higher or lower borrowing costs may be
reflected in the rates on newly rented and leased assets. The Company attempts
to reduce this risk by utilizing derivative financial instruments, namely
interest rate caps and swaps, pursuant to Company policies. All derivative
financial instruments are for purposes other than trading.

The table below presents the principal (or notional) amounts of the Company's
bank borrowings and derivative financial instruments by expected maturity
dates.  The table reflects expected maturities as of November 30, 1999 and does
not reflect changes which could arise after that time. There are no expected
maturities after May 31, 2001. The Company's ultimate realized gain or loss
with respect to interest rate fluctuations will depend on exposures that arise
during the respective period, the Company's hedging strategies at the time, and
actual interest rates.

<TABLE>
<CAPTION>
                                   Year ended May 31,                    Fair
(in thousands except percentages)    2000        2001        Total       Value
<S>                                <C>         <C>                     <C>

 Bank Borrowings
    Principal amount(a)          $  30,900   $  37,500   $   68,400  $   68,400
    Average interest rate(b)         VR%         VR%          VR%
 Interest Rate CAPs
    Notional amount(c)           $  75,000               $   75,000
    Weighted-average fixed rate(c)     7.0%                     7.0%
 Interest Rate SWAP
    Notional amount(d)                       $  25,000   $   25,000  $       35
    Rate to be paid by the Company               5.939%       5.939%
    Rate to be received by the Company         3-month      3-month
                                                Libor        Libor
</TABLE>

(a) Bank borrowings consist of the Company's unsecured revolving line of
credit, which provided for total available credit of $83.0 million at November
30, 1999. Interest on the line of credit is payable in accordance with the
applicable London Interbank Offering Rate (LIBOR) agreement or quarterly, and
accrues, at the Company's option, either at the LIBOR plus margin (as defined)
or the Base Rate (as defined).

(b) Variable Rate (VR) based on LIBOR plus margin or Base Rate as defined in
the Credit Agreement.

(c) In December 1997 the Company entered into three 2-year interest rate cap
agreements, each with a notional amount of $25.0 million and a fixed rate of
7.0%

(d) In December 1997, the Company entered into one 3-year floating rate to
fixed rate interest rate swap agreement in the notional amount of $25.0
million.

The Company is also subject to foreign currency rate risk relating to rentals
and leases denominated in Canadian dollars. The Company has determined that
hedging of these assets is not cost effective and instead attempts to minimize
currency exposure risk through working capital management. The Company does not
believe that any foreseeable change in currency rates would have a material
effect on its financial position or results of operations.

Part II.  OTHER INFORMATION
----------------------------

Items 1. through 3.
----------------------------
      Nothing to report.


Item 4.  Submission of Matters to a Vote of Security Holders

      Nothing to report.

Item 5.
----------------------------
      Nothing to report.


Item 6.  Exhibits and Reports on Form 8-K
-------------------------------------------
      Nothing to report.

<PAGE>
                                  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 thereto duly authorized.

                                         ELECTRO RENT CORPORATION

DATED:        January 13, 2000            /s/ Craig R. Jones

                                          Craig R. Jones
                                          Vice President and
                                          Chief Financial Officer

                                     Page 13
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