UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 10-Q


[x ]     Quarterly Report Pursuant to Section 13 or 15(d) of the Securities
         Exchange Act of 1934

For the quarterly period ended              March 31, 2003
                               -------------------------------------------------

[  ]     Transition Report Pursuant to Section 13 or 15(d) of the Securities
         Exchange Act of 1934

Commission File Number                      333-37504
                       ---------------------------------------------------------

                          ICON Income Fund Eight B L.P.
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)


         Delaware                                     13-4101114
--------------------------------------------------------------------------------
(State or other jurisdiction of             (IRS Employer Identification Number)
incorporation or organization)


          100 Fifth Avenue, New York, New York           10011
--------------------------------------------------------------------------------
  (Address of principal executive offices)             (Zip code)


                                 (212) 418-4700
--------------------------------------------------------------------------------
               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. [ x] Yes [ ] No

Indicate  by check mark  whether  the  registrant  is an  accelerated  filer (as
defined in Exchange Act Rule 12b-2) [ ] Yes [ x ] No


<PAGE>


                          ICON Income Fund Eight B L.P.
                        (A Delaware Limited Partnership)

                      Condensed Consolidated Balance Sheets

<TABLE>
<CAPTION>


                                                               March 31,       December 31,
                                                                 2003              2002
                                                                 ----              ----
                                                            (Unaudited)
         Assets
         ------

<S>                                                      <C>                 <C>
Cash and cash equivalents                                $     3,770,533     $     8,499,026
                                                         ---------------     ---------------

Investments in finance leases
   Minimum rents receivable                                   22,531,931          24,504,820
   Estimated unguaranteed residual values                      2,711,893           2,711,893
   Initial direct costs                                          393,308             457,189
   Unearned income                                            (3,250,625)         (3,824,928)
                                                         ---------------     ---------------
                                                              22,386,507          23,848,974
                                                         ---------------     ---------------

Investments in operating leases
   Equipment, at cost                                        194,218,473         166,325,943
   Accumulated depreciation and amortization                 (27,264,769)        (23,591,192)
                                                         ---------------     ---------------
                                                             166,953,704         142,734,751

Equipment held for sale or lease                               1,211,669           1,211,669
                                                         ---------------     ---------------

Investments in unconsolidated joint ventures                   7,016,751           7,290,793
Due from affiliates                                              606,532               3,532
Investment in unguaranteed residual                            2,332,484           2,342,589
Investment in option                                           2,100,000           2,100,000
Other assets, net                                              1,286,529           1,377,413
                                                         ---------------     ---------------

Total assets                                             $   207,664,709     $   189,408,747
                                                         ===============     ===============

         Liabilities and Partners' Equity
         --------------------------------

Notes payable - non-recourse                             $   148,325,388     $   133,231,339
Note payable - recourse                                          400,000             400,000
Due to affiliates                                                891,489             224,167
Deferred rental income                                         4,526,076             534,840
Security deposits and other liabilities                        1,541,972             863,059
Minority interests in joint ventures                           1,715,961           1,334,947
                                                         ---------------     ---------------
                                                             157,400,886         136,588,352
                                                         ---------------     ---------------

Partners' equity (deficit)
   General Partner                                              (151,279)           (125,713)
   Limited Partners (748,445.85 units outstanding
     $100 per unit original issue price)                      50,415,102          52,946,108
                                                         ---------------     ---------------

   Total partners' equity                                     50,263,823          52,820,395
                                                         ---------------     ---------------

Total liabilities and partners' equity                   $   207,664,709     $   189,408,747
                                                         ===============     ===============
</TABLE>

See accompanying notes to condensed consolidated financial statements.


<PAGE>


                          ICON Income Fund Eight B L.P.
                        (A Delaware Limited Partnership)

                 Condensed Consolidated Statements of Operations

                      For the Three Months Ended March 31,

                                   (Unaudited)


                                                 2003            2002
                                                 ----            ----

Revenues

   Rental income                               $ 5,682,540    $ 5,011,804
   Finance income                                  574,303        749,912
   Net (loss) gain on sale of equipment             (5,255)        95,526
   Income from investments in unconsolidated
     joint ventures                                 69,568        215,410
   Interest income and other                        13,844         10,319
                                               -----------    -----------

   Total revenues                                6,335,000      6,082,971
                                               -----------    -----------

Expenses

   Depreciation                                  3,789,319      3,151,511
   Interest                                      1,851,330      1,369,824
   Management fees - General Partner               644,758        477,430
   Administrative expense
     reimbursements - General Partner              288,928        225,021
   General and administrative                      197,095        152,425
   Amortization of initial direct costs             63,881         81,036
   Minority interest expense                        24,491        101,407
                                               -----------    -----------

   Total expenses                                6,859,802      5,558,654
                                               -----------    -----------

Net (loss) income                              $  (524,802)   $   524,317
                                               ===========    ===========

Net (loss) income allocable to:
   Limited partners                            $  (519,554)   $   519,074
   General Partner                                  (5,248)         5,243
                                               -----------    -----------

                                               $  (524,802)   $   524,317
                                               ===========    ===========

Weighted average number of limited
   partnership units outstanding                   748,446        750,000
                                               ===========    ===========

Net (loss) income per weighted average
   limited partnership unit                    $     (0.69)   $      0.69
                                               ===========    ===========


See accompanying notes to condensed consolidated financial statements.


<PAGE>


                          ICON Income Fund Eight B L.P.
                        (A Delaware Limited Partnership)

         Condensed Consolidated Statement of Changes in Partners' Equity

                    For the Three Months Ended March 31, 2003

                                   (Unaudited)

<TABLE>
<CAPTION>

                                  Limited Partner Distributions
                                  -----------------------------

                                     Return of  Investment       Limited         General
                                       Capital    Income         Partners        Partner         Total
                                       -------    ------         --------        -------         -----
                                    (Per weighted average unit)

<S>                                 <C>           <C>             <C>            <C>            <C>

Balance at
   January 1, 2003                                               $ 52,946,108  $ (125,713)    $ 52,820,395

Cash distributions to partners        $  2.69       $  -           (2,011,452)    (20,318)      (2,031,770)

Net loss                                                             (519,554)     (5,248)        (524,802)
                                                                 ------------   ---------     ------------

Balance at
   March 31, 2003                                                $ 50,415,102   $(151,279)    $ 50,263,823
                                                                 ============   =========     ============


</TABLE>











See accompanying notes to condensed consolidated financial statements.


<PAGE>


                          ICON Income Fund Eight B L.P.
                        (A Delaware Limited Partnership)

                 Condensed Consolidated Statements of Cash Flows

                      For the Three Months Ended March 31,

                                   (Unaudited)

<TABLE>
 <CAPTION>
                                                                         2003             2002
                                                                         ----             ----
<S>                                                                  <C>             <C>
Cash flows from operating activities:

   Net (loss) income                                                 $   (524,802)   $    524,317
                                                                     ------------    ------------
   Adjustments to reconcile net (loss) income to
     net cash (used in) provided by operating activities:
       Finance income paid directly to lender by lessees                 (297,557)       (749,912)
       Depreciation                                                     3,789,319       3,151,511
       Amortization of initial direct costs                                63,881          81,036
       Minority interest expense                                           24,491         101,407
       Income from investments in joint ventures                          (69,568)       (215,410)
       Net loss (gain) on sale of equipment                                 5,255         (95,526)
       Rental income paid directly to lender by lessees                (5,500,878)     (4,552,157)
       Interest expense on non-recourse financing
         paid directly by lessees                                       1,724,914       1,333,586
       Other, principally amortization of rental income                      --          (828,552)
       Changes in operating assets and liabilities:
         Collection of principle - non-financed receivables               258,657         594,196
         Other assets, net                                                 90,884       1,613,618
         Due to affiliates                                                667,322            --
         Due from affiliates                                             (603,000)        347,025
         Security deposits and other liabilities                          678,913          32,026
         Deferred rental income                                          (650,213)      2,083,098
                                                                     ------------    ------------

           Total adjustments                                              182,420       2,895,946
                                                                     ------------    ------------

       Net cash (used in) provided by operating activities               (342,382)      3,420,263
                                                                     ------------    ------------

Cash flows used in investing activities:
   Investment in operating leases                                      (3,076,564)     (4,250,000)
   Investments in joint ventures                                             --        (7,040,401)
   Cash held in escrow                                                       --        13,723,196
   Distribution received from unconsolidated joint venture                343,610            --
   Proceeds from sale of unguaranteed residual                             10,105            --
   Distribution to minority interest in consolidated joint venture        (32,995)           --
   Initial direct costs paid                                                 --        (2,242,352)
   Proceeds from the sale of equipment                                     94,308         529,577
                                                                     ------------    ------------

       Net cash (used in) provided by investing activities             (2,661,536)        720,020
                                                                     ------------    ------------
</TABLE>







                                                        (continued on next page)


<PAGE>


                          ICON Income Fund Eight B L.P.
                        (A Delaware Limited Partnership)

           Condensed Consolidated Statements of Cash Flows - Continued

                      For the Three Months Ended March 31,

                                   (Unaudited)
<TABLE>
<CAPTION>

<S>                                                        <C>         <C>
                                                              2003        2002
                                                              ----        ----

Cash flows from financing activities:

   Minority interest contribution                          389,518           --
   Payment of note payable - line of credit                   --       (2,500,000)
   Cash distributions to partners                       (2,031,770)    (2,035,637)
   Payment of non-recourse borrowings                      (82,323)          --
                                                       -----------    -----------

       Net cash used in financing activities            (1,724,575)    (4,535,637)
                                                       -----------    -----------

Net decrease in cash and cash equivalents               (4,728,493)      (395,354)

Cash and cash equivalents at beginning of the period     8,499,026      5,684,652
                                                       -----------    -----------

Cash and cash equivalents at end of the period         $ 3,770,533    $ 5,289,298
                                                       ===========    ===========




</TABLE>




                                                        (continued on next page)


<PAGE>


                          ICON Income Fund Eight B L.P.
                        (A Delaware Limited Partnership)

           Condensed Consolidated Statements of Cash Flows (continued)

Supplemental Disclosure of Cash Flow Information
------------------------------------------------

     For the three  months  ended March 31, 2003 and 2002,  non-cash  activities
included the following:

<TABLE>
<CAPTION>
<S>                                                                       <C>              <C>
                                                                          2003             2002
                                                                          ----             ----
Value of equipment and receivables acquired in exchange
   for debt                                                        $    24,211,080    $     70,495,058
Non-recourse notes payable and promissory
   note assumed in purchase of equipment and receivables               (24,211,080)        (70,495,058)
                                                                   ---------------    ----------------

                                                                   $       --         $            --
                                                                   ===============    ================

Principal and interest on direct finance receivables               $       617,295    $      1,848,817
   paid directly to lenders by lessees

Rental income on operating lease receivables paid                        5,500,878           4,552,157
   directly to lenders by lessees

Deferred income on operating lease receivables paid                      4,641,449             --
   directly to lenders by lessees

Principal and interest paid directly to lenders by lessees             (10,759,622)         (6,400,974)
                                                                   ---------------    ----------------

                                                                   $      --          $         --
                                                                   ===============    ================

Interest paid directly to lenders by lessees pursuant to
   non-recourse financings                                         $     1,724,914    $      1,333,586

Other interest paid                                                        126,416              36,238
                                                                   ---------------    ----------------

Total interest expense                                             $     1,851,330    $      1,369,824
                                                                   ===============    ================
</TABLE>







See accompanying notes to condensed consolidated financial statements.


<PAGE>


                          ICON Income Fund Eight B L.P.
                        (A Delaware Limited Partnership)

              Notes to Condensed Consolidated Financial Statements

                                 March 31, 2003

                                   (Unaudited)

1.   Organization

     ICON Income Fund Eight B L.P. (the "Partnership") was formed on February 7,
2000 as a Delaware limited partnership with an initial capitalization of $2,000.
It was primarily  formed to acquire various types of equipment  subject to lease
with third parties.  The  Partnership's  maximum offering was  $75,000,000.  The
Partnership  commenced business operations on its initial closing date, June 14,
2000,  with the admission of limited  partners  representing  15,815.51  limited
partnership units at the offering price of $100 per unit aggregating  $1,581,551
of capital  contributions.  As of October  17,  2002 (the final  closing  date),
734,184.49  additional  units  had  been  admitted  into  the  Partnership  with
aggregate gross proceeds of $73,418,449  bringing the total admission to 750,000
units totaling  $75,000,000 in capital  contributions.  The Partnership redeemed
1,554.15  units  during  2002,  leaving  748,445.85  limited  partnership  units
outstanding at March 31, 2003.

     The General  Partner of the Partnership is ICON Capital Corp. (the "General
Partner"), a Connecticut  corporation.  The General Partner manages and controls
the  business  affairs of the  Partnership's  equipment,  leases  and  financing
transactions under a management agreement with the Partnership.

2.   Basis of Presentation

     The condensed consolidated financial statements of ICON Income Fund Eight B
L.P.  (the   "Partnership")  have  been  prepared  pursuant  to  the  rules  and
regulations of the Securities  and Exchange  Commission  (the "SEC") and, in the
opinion  of  management,  include  all  adjustments  (consisting  only of normal
recurring  accruals)  necessary for a fair  statement of results for each period
shown.  Certain  information  and  footnote  disclosures  normally  included  in
financial statements prepared in accordance with accounting principles generally
accepted in the United States of America have been condensed or omitted pursuant
to such SEC rules and regulations. Management believes that the disclosures made
are adequate to make the information  presented not misleading.  The results for
the interim periods are not  necessarily  indicative of the results for the full
year.  These  condensed  consolidated  financial  statements  should  be read in
conjunction   with  the  financial   statements   and  notes   included  in  the
Partnership's 2002 Annual Report on Form 10-K.


<PAGE>


                          ICON Income Fund Eight B L.P.
                        (A Delaware Limited Partnership)

        Notes to Condensed Consolidated Financial Statements - Continued

3.   Related Party Transactions

     Fees and expenses paid or accrued by the Partnership to the General Partner
or its  affiliates  directly  or on  behalf  of  joint  ventures  in  which  the
Partnership has an interest for the period ended March 31, 2003 and 2002 were as
follows:

<TABLE>
<CAPTION>
<S>                                                     <C>             <C>
                                                        2003            2002
                                                        ----            ----

     Acquisition fees                              $     736,766   $    2,242,352   Capitalized as part of investment
                                                                                      in operating leases
     Acquisition fees                                        -          1,117,901   Capitalized as part of
                                                                                      investment in joint venture
     Acquisition fees                                        -            113,925   Capitalized as part of other assets
     Management fees                                     644,758          477,430   Charged to operations
     Administrative expense reimbursements               288,928          225,021   Charged to operations
                                                   -------------   --------------

                                                   $   1,670,452   $    4,176,629
                                                   =============   ==============
</TABLE>


     During the period ended March 31, 2003, the Partnership accrued $736,766 of
acquisition  fees with respect to its 90% investment in ICON Aircraft 47820 LLC.
This amount is included under the caption investment in operating leases.

4.   Consolidated Ventures and Investments in Unconsolidated Joint Ventures

     The  Partnership and its affiliates  formed seven joint ventures  discussed
below for the purpose of acquiring and managing various assets.  The Partnership
and its affiliates have identical  investment  objectives and participate on the
same  terms and  conditions.  The  Partnership  has a right of first  refusal to
purchase the equipment,  on a pro-rata basis, if any of the affiliates desire to
sell their interests in the equipment.

Consolidated Ventures

     The three joint ventures described below are majority owned and are
consolidated with the Partnership.

     ICON Cheyenne LLC
     -----------------

     In December  2000, the  Partnership  and three  affiliates,  ICON Cash Flow
Partners  L.P.  Six ("L.P.  Six"),  ICON Cash Flow  Partners  L.P.  Seven ("L.P.
Seven") and ICON Income Fund Eight A L.P.  ("Fund Eight A") formed ICON Cheyenne
LLC ("ICON  Cheyenne") for the purpose of acquiring a portfolio of leases for an
aggregate purchase price of $29,705,716, which was paid with cash of $11,401,151
and the assumption of non-recourse debt with an unaffiliated  third party lender
of  $18,304,565.  The debt is structured to be amortized from the application to
the debt of rentals due under the various  leases.  The leases expire on various
dates through  September 2006. The  Partnership,  L.P. Seven,  L.P. Six and Fund
Eight A have ownership



<PAGE>


                          ICON Income Fund Eight B L.P.
                        (A Delaware Limited Partnership)

        Notes to Condensed Consolidated Financial Statements - Continued

interests of 87.69%, 10.31%, 1.0% and 1.0%, respectively,  in ICON Cheyenne. The
Partnership's  consolidated  financial statements include 100% of the assets and
liabilities  as well  as  100% of the  related  revenues  and  expenses  of ICON
Cheyenne.  The  interests  of L.P.  Seven,  L.P.  Six and  Fund  Eight A in ICON
Cheyenne  have been  reflected as minority  interests  in joint  ventures on the
consolidated  balance sheets and minority  interest  expense on the consolidated
statements of operations.

     ICON Aircraft 24846 LLC
     -----------------------

     In 2000, the  Partnership  and two  affiliates,  L.P. Seven and ICON Income
Fund  Eight A L.P.  ("Fund  Eight A"),  formed  ICON  Aircraft  24846 LLC ("ICON
Aircraft  24846") for the purpose of  acquiring  an  investment  in a 767-300 ER
aircraft  leased  to  Scandinavian  Airline  Systems  for a  purchase  price  of
$44,515,416,  which was funded with cash of $2,241,371 and non-recourse  debt of
$42,274,045.  The rents and the aircraft have been assigned to the  unaffiliated
non-recourse  lender. The lease expired in March 2003, at which time the balance
of  the  non-recourse  debt  outstanding  was  approximately  $34,500,000.   The
Partnership  is currently  remarketing  the  aircraft,  during  which time,  the
Partnership   will  be  making   interest  only  payments  on  the   outstanding
non-recourse  debt. The Partnership,  L.P. Seven and Fund Eight A have ownership
interests of 96.0%, 2.0% and 2.0%, respectively, in ICON Aircraft 24846.

     The Partnership's  consolidated  financial  statements  include 100% of the
assets and  liabilities  of ICON  Aircraft  24846 as well as 100% of the related
revenues and expenses.  L.P.  Seven and Fund Eight A's interest in ICON Aircraft
24846  have been  reflected  as  minority  interests  in joint  ventures  on the
consolidated  balance sheets and minority  interest  expense on the consolidated
statements of operations.

     ICON Aircraft 47820 LLC
     -----------------------

     In 2003, the Partnership and ICON Income Fund Nine LLC ("Fund Nine") formed
ICON  Aircraft  47820  LLC  ("ICON  47820")  for the  purpose  of  acquiring  an
investment in a McDonnell  Douglas  DC10-30F  aircraft leased to Federal Express
through  March  2007.  The  aircraft  was  acquired  for  a  purchase  price  of
$27,287,644,  which was funded with cash of $3,076,564 and non-recourse  debt of
the  $24,211,080.  The  rents  and  the  aircraft  have  been  assigned  to  the
non-recourse  lender. The Partnership and Fund Nine have ownership  interests of
90% and 10%, respectively.  The Partnership's  consolidated financial statements
include 100% of the assets and  liabilities of ICON 47820 as well as 100% of the
related  revenues  and  expenses.  Fund Nine's  interest in ICON 47820 have been
reflected as minority  interests in joint ventures on the  consolidated  balance
sheets  and  minority  interest  expense  on  the  consolidated   statements  of
operations.

Investments in Unconsolidated Joint Ventures

     The Partnership and its affiliates formed four joint ventures discussed
below for the purpose of acquiring and managing various assets. The Partnership
and its affiliates have identical investment objectives and participate on the
same terms and conditions. The Partnership has a right of first refusal to
purchase the equipment, on a pro-rata basis, if any of the affiliates desire to
sell their interests in the equipment.

     The four joint ventures described below are 50%, 49%, 5% and 15% owned by
the Partnership and are accounted for under the equity method.


<PAGE>


                          ICON Income Fund Eight B L.P.
                        (A Delaware Limited Partnership)

        Notes to Condensed Consolidated Financial Statements - Continued

     ICON Aircraft 126 LLC
     ---------------------

     In early 2002, the Partnership and Fund Nine formed ICON Aircraft 126 LLC
("ICON 126") for the purpose of acquiring all of the outstanding shares of Delta
Aircraft Leasing Limited ("D.A.L."), a Cayman Islands registered company, which
owns, through an Owner Trust, an Airbus A340-313X aircraft which is on lease to
Cathay Pacific through March 2006. The stock was acquired for $4,250,000 in
cash. The aircraft owned by D.A.L. is subject to non-recourse debt provided by
unaffiliated lenders. As of March 31, 2003, there was $66,240,465 outstanding
under the non-recourse debt.

     The Partnership and Fund Nine each own a 50% interest in ICON 126. ICON 126
consolidates  the financial  position and results of operations of D.A.L. in its
financial statements.

     The Partnership's original investment in ICON 126 was recorded at a cost of
$3,242,901, inclusive of related acquisition fees of $1,117,901.

     Information  as to the financial  position of ICON 126 as of March 31, 2003
and December 31, 2002 and results of its  operations  for the three months ended
March 31, 2003 and 2002 is summarized below:
<TABLE>
<CAPTION>



<S>                                                      <C>                     <C>
                                                          March 31, 2003          December 31, 2002
                                                          --------------          -----------------

                  Assets                                  $    73,373,368         $      74,332,428
                                                          ===============         =================

                  Liabilities                             $    66,536,111         $      67,598,170
                                                          ===============         =================

                  Equity                                  $     6,836,257         $       6,734,258
                                                          ===============         =================

                  Partnership's share of equity           $     3,418,128         $       3,367,129
                                                          ===============         =================

                                                        Three Months Ended       Three Months Ended
                                                          March 31, 2003           March 31, 2002
                                                          --------------           --------------

                  Net income                              $       101,999          $         6,990
                                                          ===============          ===============

                  Partnership's share of net income       $        50,999          $          3,495
                                                          ===============          ================
</TABLE>

     ICON SPK2023-A, LLC
     -------------------

     In the quarter ended March 31, 2002, the Partnership and Fund Nine formed
ICON SPK 2023-A, LLC ("ICON SPK") for the purpose of acquiring a portfolio of
leases for an aggregate purchase price of $7,750,000 in cash. The leases expire
on various dates commencing April 2003 through April 2008.

     The Partnership and Fund Nine have ownership interests of 49% and 51%,
respectively. The Partnership accounts for its investment using the equity
method. The Partnership's original investment was recorded at a cost of
$3,797,500 and is adjusted for its share of earnings, losses, and distributions
thereafter.

     In June 2002, the Partnership paid ICON SPK $113,925 for its pro-rata share
of acquisition fees.



<PAGE>


                          ICON Income Fund Eight B L.P.
                        (A Delaware Limited Partnership)

        Notes to Condensed Consolidated Financial Statements - Continued

     Information as to the financial position of ICON SPK as of March 31, 2003
and December 31, 2002 and results of its operations for the three months ended
March 31, 2003 and 2002 is summarized below:

<TABLE>
<CAPTION>
<S>                                                           <C>                    <C>
                                                               March 31, 2003         December 31, 2002

                  Assets                                      $     5,812,261           $     6,452,790
                                                              ===============           ===============

                  Liabilities                                 $       534,616           $       522,168
                                                              ===============           ===============

                  Equity                                      $     5,277,645           $     5,930,622
                                                              ===============           ===============

                  Partnership's share of equity               $     2,586,045           $     2,906,004
                                                              ===============           ===============

                                                             Three Months Ended       Three Months Ended
                                                               March 31, 2003           March 31, 2002
                                                               --------------           --------------

                  Net income                                  $        25,870           $       432,479
                                                              ===============           ===============

                  Partnership's share of net income           $        12,676           $       211,915
                                                              ===============           ===============

                  Distributions                               $       678,847           $          -
                                                              ===============           ===============

                  Partnership's share of distributions        $       332,635           $          -
                                                              ===============           ===============
</TABLE>


     ICON/Kenilworth LLC
     -------------------

     On September 30, 2002, the Partnership and Fund Nine formed ICON/Kenilworth
LLC for the purpose of acquiring a natural gas-fired 25MW co-generation facility
for a total purchase price of $8,630,000 in cash,  with an assumed  non-recourse
debt of $7,658,892,  consisting of a senior debt of $7,420,156 and a junior debt
of $238,736.  The facility is subject to a lease with Energy Factors Kenilworth,
Inc.,  and the lease  expires in July 2004.  In  addition,  there was a total of
$459,843 in acquisition fees paid to the General Partner.

     Subsequent  to the  closing  of the  acquisition,  the  purchase  price was
adjusted by the following amounts. The cash amount was reduced to $8,410,000 and
the non-recourse debt was reduced to $6,918,091,  with an adjustment of $740,801
to the senior debt.

     The  Partnership  and Fund Nine  have  ownership  interests  of 5% and 95%,
respectively.  The Partnership  accounts for the investment following the equity
method.  The  Partnership's  original  investment  was  recorded  at a  cost  of
$443,492,  inclusive of related  acquisition fees of $22,992 and is adjusted for
its share of earnings, losses and distributions thereafter.


<PAGE>


                          ICON Income Fund Eight B L.P.
                        (A Delaware Limited Partnership)

        Notes to Condensed Consolidated Financial Statements - Continued

     Information as to the financial position of ICON/Kenilworth LLC as of March
31,  2003 and  December  31, 2002 and  results of its  operations  for the three
months ended March 31, 2003 and 2002 is summarized below:

<TABLE>
<CAPTION>
<S>                                                       <C>                           <C>

                                                               March 31, 2003             December 31, 2002
                                                               --------------             -----------------

                  Assets                                      $    14,194,036            $     15,157,182
                                                              ===============            ================

                  Liabilities                                 $     5,176,271            $      6,109,365
                                                              ===============            ================

                  Equity                                      $     9,017,765            $      9,047,817
                                                              ===============            ================

                  Partnership's share of equity               $       450,888            $        452,391
                                                              ===============            ================

                                                            Three Months Ended           Three Months Ended
                                                              March 31, 2003               March 31, 2002
                                                              --------------               --------------

                  Net income                                  $       189,444            $      -
                                                              ===============            =================

                  Partnership's share of net income           $         9,472            $      -
                                                              ===============            =================

                  Distributions                               $       219,496            $      -
                                                              ===============            =================

                  Partnership's share of distributions        $        10,975            $      -
                                                              ===============            =================

</TABLE>

     ICON Aircraft 46835, LLC
     ------------------------

     In 2002,  the  Partnership  and Fund Nine formed ICON Aircraft  46835,  LLC
("ICON 46835") for the purpose of acquiring an investment in a McDonnell Douglas
DC-10-30F  aircraft  leased to Federal  Express through March 2007. The aircraft
was acquired for a purchase price of $25,291,593,  which was funded with cash of
$3,000,000 and non-recourse debt of $22,291,593. The rents and the aircraft have
been assigned to the  non-recourse  lender.  The lease is scheduled to expire in
March 2007, at which time the balance of the  non-recourse  debt  outstanding is
scheduled to be  approximately  $2,708,000.  In  addition,  there was a total of
$758,748  in  acquisition  fees  paid  to  the  General  Partner  of  which  the
Partnership's share was $113,812.

     The  Partnership  and Fund Nine have  ownership  interests  of 15% and 85%,
respectively.  The Partnership  accounts for the investment following the equity
method. The Partnership's original investment was recorded at a cost of $450,000
inclusive of related  acquisition fees of $113,812 and is adjusted for its share
of earnings, losses, and distributions thereafter.


<PAGE>


                          ICON Income Fund Eight B L.P.
                        (A Delaware Limited Partnership)

        Notes to Condensed Consolidated Financial Statements - Continued

     Information as to the financial position of ICON 46835 as of March 31, 2003
and December 31, 2002 and results of its  operations  for the three months ended
March 31, 2003 and 2002 is summarized below:

<TABLE>
<CAPTION>

<S>                                                                  <C>                 <C>
                                                               March 31, 2003             December 31, 2002
                                                               --------------             -----------------

                  Assets                                      $    24,840,326            $     26,071,518
                                                              ===============            ================

                  Liabilities                                 $    21,095,726            $     22,303,057
                                                              ===============            ================

                  Equity                                      $     3,744,600            $      3,768,461
                                                              ===============            ================

                  Partnership's share of equity               $       561,690            $        565,269
                                                              ===============            ================

                                                             Three Months Ended          Three Months Ended
                                                               March 31, 2003              March 31, 2002
                                                               --------------              --------------

                  Net loss                                    $       (23,861)           $           -
                                                              ===============            ================

                  Partnership's share of net loss             $        (3,579)           $           -
                                                              ===============            ================
</TABLE>


5.       Investment In Wholly-Owned Subsidiary

     In early 2002, the  Partnership  formed ICON Aircraft 123, LLC ("ICON 123")
as a wholly owned subsidiary for the purpose of acquiring all of the outstanding
shares of Alpha Aircraft Leasing Limited ("A.A.L."), a Cayman Islands registered
company,  which owns, through an Owner Trust, an Airbus A340-313X aircraft which
is on lease to Cathay Pacific  through March 2006. The stock was acquired in the
first quarter of 2002 for a total  purchase  price of  $4,250,000  in cash.  The
aircraft  owned  by  A.A.L.  is  subject  to   non-recourse   debt  provided  by
unaffiliated  lenders.  The fair value of the  aircraft  was  approximately  $75
million  at the  date  of  acquisition  and  the  fair  value  of the  debt  was
approximately  $70.5 million at such date. ICON 123  consolidates  the financial
position and operations of A.A.L.  in its financial  statements.  The assets and
liabilities of ICON 123 are consolidated with the Partnership.

6.       Contingencies

(a)      Kmart
         -----

     Kmart, Inc., ("Kmart") with whom the Partnership has five leases, filed for
Chapter 11  bankruptcy  protection in January 2002.  The  Partnership's  finance
leases with Kmart were  acquired  during 2001 for  $18,234,262,  comprised  of a
total cash  investment  of $681,720 and the  assumption  of  $17,552,542  of non
recourse  debt.  Through  May 1,  2003,  Kmart  has  made all  scheduled  rental
payments. The bankruptcy court has not ruled on the affirmation of the leases as
of the date of this  report.  Management  has deemed an  allowance  for doubtful
accounts unnecessary at March 31, 2003.


<PAGE>


                          ICON Income Fund Eight B L.P.
                        (A Delaware Limited Partnership)

        Notes to Condensed Consolidated Financial Statements - Continued

(b)      Regus
         -----

     Regus Business  Center Corp.  ("Regus"),  with whom the  Partnership has an
equipment lease, filed for Chapter 11 bankruptcy protection on January 14, 2003.
The  Partnership's  finance  leases  with Regus were  acquired  in July 2000 for
$5,303,089.   Regus  did  not  pay  rent  in  January  or  February,  2003.  The
Partnership,  has  negotiated  new lease terms with Regus and  restructured  the
lease effective March 15, 2003 whereby the lease, originally scheduled to expire
on July 31, 2004 has been extended to expire March 2007 at a new reduced  rental
rate. As of December 31, 2002 the contractual  rent  receivable  under the Regus
lease was $2,734,738. Giving effect to the lease restructuring,  the contractual
rent  receivable  under the Regus  lease as of March  31,  2003 was  $3,262,656,
therefore  management has determined that an allowance for doubtful  accounts is
unnecessary at this time.




<PAGE>


                          ICON Income Fund Eight B L.P.
                        (A Delaware Limited Partnership)

                                 March 31, 2003

Item 2: General  Partner's  Discussion  and Analysis of Financial  Condition and
        Results of Operations

     Forward-Looking  Information - The following discussion and analysis should
be read in conjunction with the audited financial  statements dated December 31,
2002.  Certain  statements  within this document may constitute  forward-looking
statements made pursuant to the safe harbor provision of the Private  Securities
Litigation  Reform Act of 1995. These statements are identified by words such as
"anticipate," "believe," "estimate," "expects," "intend," "predict" or "project"
and similar  expressions.  This information may involve risks and  uncertainties
that could cause actual results to differ  materially  from the  forward-looking
statements. Although the Partnership believes that the expectations reflected in
such  forward-looking  statements  are  based on  reasonable  assumptions,  such
statements  are  subject  to risks and  uncertainties  that could  cause  actual
results to differ materially from those projected.

Results of Operations for the Three Months Ended March 31, 2003 and 2002

     Revenues  for the quarter  ended March 31, 2003 (the "2003  Quarter")  were
$6,335,000 representing an increase of $252,029 over the quarter ended March 31,
2002 (the "2002  Quarter").  The increase in revenue  resulted from increases in
rental  income of  $670,736  and an  increase  in  interest  income and other of
$3,525.  The increases in revenues were partially offset by decreases in finance
income of $175,609,  income from  investment  in joint venture of $145,842 and a
loss on sale of equipment of $5,255 as compared with a gain on sale of equipment
of $95,526 in the 2002  Quarter.  During the 2003 Quarter the  Partnership  sold
equipment from the ICON Cheyenne portfolio for total proceeds of $94,308.

     Rental income  increased  due to the  additional  investments  in operating
leases made  subsequent  to the 2002  Quarter.  The  decrease in finance  income
resulted  from the continued  collection  of minimum lease rentals  reducing the
investment balance outstanding on which such revenues are based.

     Expenses for the 2003 Quarter were  $6,859,802  representing an increase of
$1,301,148  over the 2002  Quarter.  The increase in expenses  resulted from the
increase in the size of the  Partnership's  lease portfolio,  an increase in the
Partnership's  borrowing  levels and overall growth in size of the operations of
the Partnership from the 2002 Quarter which is consistent with the Partnership's
level of operations.

     Depreciation   expense  increased  by  $637,808,   due  to  the  additional
investments in operating  leases made  subsequent to the 2002 Quarter.  Interest
expense  increased  by  $481,506  due to the  additional  debt  used to  acquire
investments in operating leases subsequent to the 2002 Quarter.  Management fees
-  General   Partner   increased   by  $167,328   and   administrative   expense
reimbursements  - General  Partner  increased  by $63,907 in the 2003 Quarter as
compared to the 2002  Quarter.  The increase in management  fees was  consistent
with  increases in rentals  (including  operating  leases,  finances  leases and
through  joint  ventures)  on  which  such  fees  are  based.  The  increase  in
administrative  expense reimbursements - General Partner was consistent with the
increase in operating  activities of the Partnership.  Minority interest expense
decreased by $76,916,  amortization of initial direct costs decreased by $17,155
and general and administrative expenses increased by $44,670 in the 2003 Quarter
as compared to the 2002 Quarter.

     Net  (loss)  income  for the  quarter  ended  March  31,  2003 and 2002 was
($524,802)  and  $524,317,  respectively.  The net (loss)  income  per  weighted
average limited  partnership  unit  outstanding was ($.69) and $.69 for 2003 and
2002, respectively.




<PAGE>


                          ICON Income Fund Eight B L.P.
                        (A Delaware Limited Partnership)

                                 March 31, 2003

Liquidity and Capital Resources

     The Partnership's  primary source of funds for the three months ended March
31, 2003 were  proceeds  from the sale of equipment of $94,308 and  unguaranteed
residuals  of  $10,105,   minority   interest   contribution   of  $389,518  and
distributions   received  from   unconsolidated   joint  ventures  of  $343,610.
Distributions to partners aggregated  $2,031,770 and the Partnership invested in
an  operating  lease  for  $3,076,564.   As  a  result  of  this  activity,  the
Partnership's liquidity was reduced during the 2003 Quarter. As cash is realized
from operations the Partnership  will continue to invest in equipment leases and
financings  where it deems it to be prudent while  retaining  sufficient cash to
meet its reserve requirements and recurring obligations.

     During the quarter  ended June 30,  2002,  the  Partnership  entered into a
$17,500,000  joint and several line of credit agreement dated as of May 30, 2002
shared with L.P.  Seven and Fund Eight A (the  "Initial  Funds"),  with Comerica
Bank as lender. Under the terms of the agreement,  the Partnership may borrow at
a rate equal to the Comerica  Bank base rate plus 1%  (together,  5.25% at March
31, 2003) and all borrowings are to be jointly and severally  collateralized  by
the present values of rents receivable and equipment owned by all of the Initial
Funds sharing in the joint line of credit.  On December 12, 2002,  the agreement
was  amended to admit ICON Income Fund Nine,  LLC,  collectively  along with the
Initial Funds (the "Funds"), as a borrower sharing the $17,500,000 joint line of
credit agreement. The Funds have entered into a Contribution Agreement, dated as
of May 30, 2002, as amended December 12, 2002,  pursuant to which the Funds have
agreed  to  restrictions  on the  amount  and  the  terms  of  their  respective
borrowings  under the line of credit in order to  minimize  the risk that a Fund
would not be able to repay its allocable  portion of the  outstanding  revolving
loan  obligation at any time,  including  restrictions  on any Fund borrowing in
excess of the lesser of (A) an amount each Fund could reasonably expect to repay
in one year out of its  projected  free cash flow, or (B) the greater of (i) the
Borrowing  Base (as defined in the line of credit  agreement) as applied to such
Fund,  and (ii) 50% of the net worth of such Fund.  The  Contribution  Agreement
provides  that, in the event a Fund pays an amount under the agreement in excess
of its allocable share of the obligation  under the agreement  whether by reason
of an Event of Default or  otherwise,  the other Funds will  immediately  make a
contribution  payment to such Fund in such amount that the aggregate amount paid
by each Fund reflects its allocable share of the aggregate obligations under the
agreement. The Funds' obligations to each other under the Contribution Agreement
are  collateralized  by a subordinate  lien on the assets of each  participating
Fund.  The  expiration  date  of this  line  of  credit  is May  31,  2003.  The
Partnership violated a financial covenant at December 31, 2002 creating an Event
of Default.  The bank granted a waiver to the  Partnership  with respect to this
Event  of  Default.  As of March  31,  2003,  there  were no  borrowings  by the
Partnership under the line.  Aggregate  borrowing by all Funds under the line of
credit agreement aggregated $7,484,986 on March 31, 2003.

     Cash  distributions  to  limited  partners  for the 2003  Quarter  and 2002
Quarter,   which  were  paid  monthly,   totaled   $2,011,452  and   $2,015,281,
respectively.

     Kmart, Inc., with whom the Partnership has five leases, filed bankruptcy in
January 2002. The  Partnership's  finance leases with Kmart were acquired during
2001 for prices  aggregating  $18,234,262,  comprised  of a cash  investment  of
$681,720 and the assumption of $17,552,542 of non-recourse  debt. Through May 1,
2003, Kmart has made all scheduled rental payments. The bankruptcy court has not
ruled on the affirmation of the leases as of the date of this report. Management
has deemed an allowance for doubtful accounts unnecessary at March 31, 2003.

     Regus Business  Center Corp.  ("Regus"),  with whom the  Partnership has an
equipment lease, filed for Chapter 11 bankruptcy protection on January 14, 2003.
The  Partnership's  finance  leases  with Regus were  acquired  in July 2000 for
$5,303,089.   Regus  did  not  pay  rent  in  January  or  February,  2003.  The
Partnership, has


<PAGE>


                          ICON Income Fund Eight B L.P.
                        (A Delaware Limited Partnership)

                                 March 31, 2003

negotiated new lease terms with Regus and restructured the lease effective March
15, 2003 whereby the lease,  originally scheduled to expire on July 31, 2004 has
been  extended to expire  March 2007 but at a new  reduced  rental  rate.  As of
December  31, 2002 the  contractual  rent  receivable  under the Regus lease was
$2,734,738.  Giving  effect to the lease  restructuring,  the  contractual  rent
receivable under the Regus lease as of March 31, 2003 was $3,262,656.

     As of March 31, 2003, except as noted above,  there were no known trends or
demands,  commitments,  events or  uncertainties  which  are  likely to have any
material  effect on  liquidity.  As cash is realized from  operations,  sales of
equipment and borrowings,  the Partnership  will invest in equipment  leases and
financings where it deems to be prudent while retaining  sufficient cash to meet
its reserve requirements and recurring obligations.

We do not consider the impact of inflation to be material in the analysis of our
overall operations.

Item 3.  Qualitative and Quantitative Disclosures About Market Risk

     The  Partnership is exposed to certain market risks,  including  changes in
interest rates. The Partnership  believes its exposure to other market risks are
insignificant to both its financial position and results of operations.

     The  Partnership  manages its interest  rate risk by  obtaining  fixed rate
debt. The fixed rate debt service  obligation  streams are generally  matched by
fixed  rate  lease  receivable  streams  generated  by the  Partnership's  lease
investments.

     The  Partnership  borrows funds under a floating rate line of credit and is
therefore  exposed to interest  rate risk until the floating rate line of credit
is repaid.  The Partnership's  had no borrowings  outstanding under the floating
rate line of credit as of March 31, 2003.

     The  Partnership  manages its  exposure to equipment  and residual  risk by
monitoring  the market and maximizing  re-marketing  proceeds  received  through
re-lease or sale of equipment.

Item 4.    Controls and Procedures

     Beaufort  J.B.  Clarke and Thomas W. Martin,  the  Principal  Executive and
Principal Financial Officers,  respectively,  of ICON Capital Corp. ("ICC"), the
General Partner of the Partnership,  have evaluated the disclosure  controls and
procedures  of the  Partnership  within  90 days  prior  to the  filing  of this
quarterly report. As used herein, the term "disclosure  controls and procedures"
has the meaning given to the term by Rule 13a-14 under the  Securities  Exchange
Act of 1934, as amended  ("Exchange  Act"),  and includes the controls and other
procedures  of the  Partnership  that are  designed to ensure  that  information
required to be  disclosed by the  Partnership  in the reports that it files with
the SEC under the Exchange Act is recorded,  processed,  summarized and reported
within the time periods specified in the SEC's rules and forms. As part of their
evaluation,  Messrs. Clarke and Martin conferred with the finance and accounting
staff of ICC and the finance and accounting  staff of ICON Holdings  Corp.,  the
parent of ICC.  Based  upon their  evaluation,  Messrs.  Clarke and Martin  have
concluded that the  Partnership's  disclosure  controls and  procedures  provide
reasonable  assurance  that the  information  required  to be  disclosed  by the
Partnership  in this report is  recorded,  processed,  summarized  and  reported
within the time periods specified in the SEC's rules and forms applicable to the
preparation of this report.


<PAGE>


                          ICON Income Fund Eight B L.P.
                        (A Delaware Limited Partnership)

                                 March 31, 2003

     There  have  been no  significant  changes  in the  Partnership's  internal
controls or in other factors that could  significantly  affect the Partnership's
internal  controls  subsequent to the evaluation  described  above  conducted by
ICC's principal executive and financial officers.


<PAGE>


                          ICON Income Fund Eight B L.P.
                         (A Delaware Limited Partnership


PART II - OTHER INFORMATION

Item 1- Legal Proceedings
-------------------------

The Company, from time-to-time, in the ordinary course of business, commences
legal actions when necessary to protect or enforce the rights of the
Partnership. We are not a defendant party to any litigation and are not aware of
any pending or threatened litigation against the Partnership

Item 6 - Exhibits and Reports on Form 8-K
-----------------------------------------

(b) Reports on Form 8-K

     Form 8-K filed on February 5, 2003
     Item 4. Changes in Registrant's Certifying Accountant

(c)  Exhibits

99.1 Certification  of  Chairman  and Chief  Executive  Officer  pursuant  to 18
     U.S.C.ss.1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act
     of 2002.

99.2 Certification  of Executive  Vice  President  and  Principal  Financial and
     Accounting  Officer  pursuant to 18  U.S.C.ss.1350,  as adopted pursuant to
     Section 906 of the Sarbanes-Oxley Act of 2002.




<PAGE>


                          ICON Income Fund Eight B L.P.
                        (A Delaware Limited Partnership)

                                   SIGNATURES

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

                               ICON Income Fund Eight B L.P.
                               File No. 333-37504(Registrant)
                               By its General Partner,
                               ICON Capital Corp.




    May 12, 2003               /s/ Thomas W. Martin
--------------------           ------------------------------
      Date                     Thomas W. Martin
                               Executive Vice President
                               (Principal Financial and Accounting
                               Officer of the General Partner of the Registrant)



<PAGE>


                              Certifications - 10-Q
                              ---------------------

I, Beaufort J.B. Clarke, certify that:

1.   I have  reviewed  this  quarterly  report on Form 10-Q of ICON  Income Fund
     Eight B L.P.;

2.   Based on my knowledge,  this  quarterly  report does not contain any untrue
     statements of a material fact or omit to state a material fact necessary to
     make the statements  made, in light of the  circumstances  under which such
     statements  were made, not misleading with respect to the period covered by
     this quarterly report;

3.   Based  on my  knowledge,  the  financial  statements  and  other  financial
     information  included  in this  quarterly  report,  fairly  present  in all
     material respects the financial  condition,  results of operations and cash
     flows of the  registrant  as of, and for,  the  periods  presented  in this
     quarterly report;

4.   The  registrant's  other  certifying  officers  and I are  responsible  for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

     a)   designed  such  disclosure  controls  and  procedures  to ensure  that
          material  information  relating  to  the  registrant,   including  its
          consolidated subsidiaries,  is made known to us by others within those
          entities,  particularly  during  the  period in which  this  quarterly
          report is being prepared;

     b)   evaluated the  effectiveness of the registrant's  disclosure  controls
          and procedures as of a date within 90 days prior to the filing date of
          this quarterly report (the "Evaluation Date"); and

     c)   presented  in  this  quarterly   report  our  conclusions   about  the
          effectiveness  of the disclosure  controls and procedures based on our
          evaluation as of the Evaluation Date;

5.   The registrant's other certifying  officers and I have disclosed,  based on
     our most recent  evaluation,  to the  registrant's  auditors  and the audit
     committee of  registrant's  board of directors (or persons  performing  the
     equivalent function):

     a)   all  significant  deficiencies  in the design or operation of internal
          controls  which could  adversely  affect the  registrant's  ability to
          record,  process,   summarize  and  report  financial  data  and  have
          identified for the  registrant's  auditors any material  weaknesses in
          internal controls; and

     b)   any fraud, whether or not material,  that involves management or other
          employees who have a  significant  role in the  registrant's  internal
          controls; and

6.   The  registrant's  other  certifying  officers and I have indicated in this
     quarterly report whether or not there were significant  changes in internal
     controls  or in other  factors  that could  significantly  affect  internal
     controls  subsequent to the date of our most recent  evaluation,  including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.

Dated:  May 14, 2003

/s/ Beaufort J.B. Clarke
-----------------------------
Beaufort J. B. Clarke
Chairman and Chief Executive Officer
ICON Capital Corp.
General Partner of ICON Income Fund Eight B L.P.


<PAGE>


                              Certifications - 10-Q
                              ---------------------

I, Thomas W. Martin, certify that:

1.   I have  reviewed  this  quarterly  report on Form 10-Q of ICON  Income Fund
     Eight B L.P.;

2.   Based on my knowledge,  this  quarterly  report does not contain any untrue
     statements of a material fact or omit to state a material fact necessary to
     make the statements  made, in light of the  circumstances  under which such
     statements  were made, not misleading with respect to the period covered by
     this quarterly report;

3.   Based  on my  knowledge,  the  financial  statements  and  other  financial
     information  included  in this  quarterly  report,  fairly  present  in all
     material respects the financial  condition,  results of operations and cash
     flows of the  registrant  as of, and for,  the  periods  presented  in this
     quarterly report;

4.   The  registrant's  other  certifying  officers  and I are  responsible  for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

     a)   designed  such  disclosure  controls  and  procedures  to ensure  that
          material  information  relating  to  the  registrant,   including  its
          consolidated subsidiaries,  is made known to us by others within those
          entities,  particularly  during  the  period in which  this  quarterly
          report is being prepared;

     b)   evaluated the  effectiveness of the registrant's  disclosure  controls
          and procedures as of a date within 90 days prior to the filing date of
          this quarterly report (the "Evaluation Date"); and

     c)   presented  in  this  quarterly   report  our  conclusions   about  the
          effectiveness  of the disclosure  controls and procedures based on our
          evaluation as of the Evaluation Date;

5.   The registrant's other certifying  officers and I have disclosed,  based on
     our most recent  evaluation,  to the  registrant's  auditors  and the audit
     committee of  registrant's  board of directors (or persons  performing  the
     equivalent function):

     a)   all  significant  deficiencies  in the design or operation of internal
          controls  which could  adversely  affect the  registrant's  ability to
          record,  process,   summarize  and  report  financial  data  and  have
          identified for the  registrant's  auditors any material  weaknesses in
          internal controls; and

     b)   any fraud, whether or not material,  that involves management or other
          employees who have a  significant  role in the  registrant's  internal
          controls; and

6.   The  registrant's  other  certifying  officers and I have indicated in this
     quarterly report whether or not there were significant  changes in internal
     controls  or in other  factors  that could  significantly  affect  internal
     controls  subsequent to the date of our most recent  evaluation,  including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.

Dated:  May 14, 2003

/s/ Thomas W. Martin
----------------------------------------
Thomas W. Martin
Executive Vice President
(Principal Financial and Accounting Officer
of the General Partner of the Registrant)


<PAGE>


                          ICON Income Fund Eight B L.P.
                        (A Delaware Limited Partnership)

                                 March 31, 2003

EXHIBIT 99-1

     I,  Beaufort  J.B.  Clarke,  Chairman and Chief  Executive  Officer of ICON
Capital  Corp,  the sole  General  Partner  of ICON  Income  Fund  Eight B L.P.,
certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

     (1)  the Quarterly  Report on Form 10-Q for the period ended March 31, 2003
          (the  "Periodic  Report")  which  this  statement   accompanies  fully
          complies  with the  requirements  of Section  13(a) of the  Securities
          Exchange Act of 1934 (15 U.S.C. 78m) and

     (2)  information  contained in the Periodic Report fairly presents,  in all
          material respects,  the financial  condition and results of operations
          of ICON Income Fund Eight B L.P.

Dated:  May 14, 2003




                                /s/ Beaufort J.B. Clarke
                                --------------------------------------------
                                Beaufort J.B. Clarke
                                Chairman and Chief Executive Officer
                                ICON Capital Corp.
                                General Partner of ICON Income Fund Eight B L.P.



<PAGE>


                          ICON Income Fund Eight B L.P.
                        (A Delaware Limited Partnership)

                                 March 31, 2003


EXHIBIT 99-2


         I, Thomas W. Martin, Executive Vice President (Principal Financial and
     Accounting Officer) of ICON Capital Corp, the sole General Partner of ICON
Income Fund Eight B L.P., certify, pursuant to Section 906 of the Sarbanes-Oxley
Act of 2002, that:

     (1)  the Quarterly  Report on Form 10-Q for the period ended March 31, 2003
          (the  "Periodic  Report")  which  this  statement   accompanies  fully
          complies  with the  requirements  of Section  13(a) of the  Securities
          Exchange Act of 1934 (15 U.S.C. 78m) and

     (2)  information  contained in the Periodic Report fairly presents,  in all
          material respects,  the financial  condition and results of operations
          of ICON Income Fund Eight B L.P.

Dated:  May 14, 2003




                                /s/ Thomas W. Martin
                                -----------------------------------------------
                                Thomas W. Martin
                                Executive Vice President (Principal
                                Financial and Accounting Officer)
                                ICON Capital Corp.
                                General Partner of ICON Income Fund Eight B L.P.