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, 2004
                              --------------------------------------------------

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

For the transition period from ___________________ to __________________________

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 Rule 12b-2 of the Exchange Act) [ ] Yes [ x ] No
<PAGE>

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

                      Condensed Consolidated Balance Sheets


<TABLE>
<CAPTION>

                                                                        (unaudited)
                                                                         March 31,        December 31,
                                                                           2004              2003
                                                                           ----              ----

         Assets
         -------

<S>                                                                  <C>                 <C>
Cash and cash equivalents                                            $     2,361,558     $     1,760,803
                                                                     ---------------     ---------------

Investments in finance leases
   Minimum rents receivable                                               14,019,386          15,192,886
   Estimated unguaranteed residual values                                  1,737,662           1,737,662
   Initial direct costs, net                                                 154,662             194,985
   Unearned income                                                        (1,640,733)         (1,974,924)
   Allowance for doubtful accounts                                          (411,742)              -
                                                                     ---------------     ---------------
                                                                          13,859,235          15,150,609
                                                                     ---------------     ---------------

Investments in operating leases
   Equipment, at cost                                                    146,695,597         148,112,061
   Accumulated depreciation and amortization                             (34,021,378)        (31,289,197)
                                                                     ---------------     ---------------
                                                                         112,674,219         116,822,864
                                                                     ---------------     ---------------

Equipment held for sale or lease, net                                     35,761,800          36,741,848
                                                                     ---------------     ---------------

Investments in unconsolidated joint ventures                               6,255,283           6,382,227
Due from affiliates                                                          171,291             167,170
Investment in unguaranteed residual values                                    86,009             409,586
Investment in option                                                       2,100,000           2,100,000
Other assets, net                                                          1,268,887           1,212,013
                                                                     ---------------     ---------------

Total assets                                                         $   174,538,282     $   180,747,120
                                                                     ===============     ===============

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

Notes payable - non-recourse                                         $   125,686,108     $   132,938,722
Note payable - recourse                                                    2,000,000           2,000,000
Due to General Partner and affiliates                                         92,172              98,203
Deferred rental income                                                     4,367,881           1,255,076
Equipment sales advances                                                   3,240,877           1,361,506
Security deposits and other liabilities                                    1,704,495           1,377,023
Minority interests in joint ventures                                         936,621           1,352,621
                                                                     ---------------    ----------------
                                                                         138,028,154         140,383,151
                                                                     ---------------    ----------------

Partners' equity (deficit)
   General Partner                                                          (285,907)           (247,872)
   Limited Partners (744,737.91 and 745,491.39 units outstanding
     $100 per unit original issue price)                                  36,796,035          40,611,841
                                                                     ---------------     --------------

   Total partners' equity                                                 36,510,128          40,363,969
                                                                     ---------------     ---------------

Total liabilities and partners' equity                               $   174,538,282     $   180,747,120
                                                                     ===============     ===============


</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)


<TABLE>
<CAPTION>

                                                                  2004            2003
                                                                  ----            ----


<S>                                                         <C>               <C>
Revenues
   Rental income                                            $   5,050,467     $   5,682,540
   Finance income                                                 334,191           574,303
   Net loss on sales of equipment                                (483,330)           (5,255)
   Income from investments in unconsolidated joint ventures       100,222            69,568
   Interest income and other                                       16,989            13,844
                                                            -------------     -------------
   Total revenues                                               5,018,539         6,335,000
                                                            -------------     -------------

Expenses
   Depreciation                                                 4,005,440         3,789,319
   Interest                                                     1,660,538         1,851,330
   Management fees - General Partner                              559,734           644,758
   Administrative expense
     reimbursements - General Partner                             244,331           288,928
   Aircraft maintenance                                           109,260               -
   General and administrative                                     355,723           197,095
   Amortization of initial direct costs                            40,323            63,881
   Minority interest (income) expense                             (70,632)           24,491
   Provision for bad debts                                        411,742               -
                                                            -------------     -------------

   Total expenses                                               7,316,459         6,859,802
                                                            -------------     -------------

Net loss                                                    $  (2,297,920)    $    (524,802)
                                                            =============     =============

Net loss allocable to:
   Limited partners                                         $  (2,274,941)    $    (519,554)
   General Partner                                                (22,979)           (5,248)
                                                            -------------     -------------
                                                            $  (2,297,920)    $    (524,802)
                                                            =============     =============
Weighted average number of limited
    partnership units outstanding                                 745,003           748,446
                                                            =============     =============
Net loss per weighted average
    limited partnership unit                                $       (3.05)    $       (0.69)
                                                            =============     =============


</TABLE>



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, 2004

                                   (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, 2004                                               $      40,611,841  $   (247,872)    $  40,363,969

Limited partnership units
  redeemed (753.48)                                                      (50,355)           -              (50,355)

Cash distributions to partners        $  2.00       $  -                (1,490,510)      (15,056)       (1,505,566)

Net loss                                                                (2,274,941)      (22,979)       (2,297,920)
                                                                 -----------------   -----------     -------------

Balance at
   March 31, 2004                                                $      36,796,035   $  (285,907)    $  36,510,128
                                                                 =================   ===========     =============

</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>


                                                                                             2004             2003
                                                                                             ----             ----

<S>                                                                                     <C>               <C>
Cash flows from operating activities:
    Net loss                                                                            $  (2,297,920)    $    (524,802)
                                                                                        -------------     -------------
Adjustments to reconcile net loss to
     net cash used in operating activities:
       Rental income paid directly to lenders by lessees                                   (4,675,227)       (5,500,878)
       Finance income paid directly to lenders by lessees                                    (227,871)         (297,557)
       Income from investments in joint ventures                                             (100,222)          (69,568)
       Depreciation                                                                         4,005,440         3,789,319
       Interest expense on non-recourse financing paid directly to lenders by lessees       1,309,081         1,724,914
       Amortization of initial direct costs                                                    40,323            63,881
       Minority interest (income) expense                                                     (70,632)           24,491
       Net loss on sales of equipment                                                         483,330             5,255
       Provision for bad debts                                                                411,742               -
       Changes in operating assets and liabilities:
         Collection of principal - non-financed receivables                                   371,421           258,657
         Due from affiliates, net                                                             (10,152)           64,322
         Other assets, net                                                                    (56,872)           90,884
         Deferred rental income                                                               (34,250)         (650,213)
         Security deposits and other liabilities                                              327,472           678,913
                                                                                        -------------       -----------
           Total adjustments                                                                1,773,583           182,420
                                                                                        -------------       -----------
       Net cash used in operating activities                                                 (524,337)         (342,382)
                                                                                        -------------       -----------

Cash flows from investing activities:
   Investment in operating leases                                                                  -         (3,076,564)
   Distributions received from unconsolidated joint ventures                                  227,166           343,610
   Proceeds from sale of unguaranteed residual values                                         323,577            10,105
   Distribution to minority interests in joint venture                                       (356,990)          (32,995)
   Advances received for sale of equipment                                                  2,387,260                 -
   Proceeds from the sales of equipment                                                       100,000            94,308
                                                                                        -------------       ------------
       Net cash provided by (used in) investing activities                                  2,681,013        (2,661,536)
                                                                                        -------------       ------------

</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)

                                                           2004          2003
                                                           ----          ----

Cash flows from financing activities:
    Minority interest contributions                           -         389,518
    Cash distributions to partners                     (1,505,566)   (2,031,770)
    Redemption of partnership units                       (50,355)          -
    Payment of non-recourse borrowings                        -         (82,323)
                                                      -----------    -----------

Net cash used in financing activities                  (1,555,921)   (1,724,575)
                                                      ------------  ------------

Net increase (decrease) in cash and cash equivalents      600,755    (4,728,493)

Cash and cash equivalents at beginning of the period    1,760,803     8,499,026
                                                      -----------   -----------

Cash and cash equivalents at end of the period        $ 2,361,558   $ 3,770,533
                                                      ===========   ===========











                                                        (continued on next page)

<PAGE>

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

           Condensed Consolidated Statements of Cash Flows (Continued)

Supplemental Disclosures of Cash Flow Information
-------------------------------------------------

     For the three  months  ended March 31, 2004 and 2003,  non-cash  activities
included the following:


<TABLE>

<CAPTION>
                                                                          2004             2003
                                                                          ----             ----


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

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


Principal and interest from direct finance receivables
  paid directly to lenders by lessees                               $       739,413  $        617,295

Rental income from operating lease receivables paid                       4,675,227         5,500,878
   directly to lenders by lessees

Deferred income from operating lease receivables paid                     3,147,055         4,641,449
   directly to lenders by lessees

Principal and interest paid directly to lenders by lessees               (8,561,695)      (10,759,622)
                                                                    ---------------  ----------------

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


Interest on non-recourse financings paid
   directly to lenders by lessees                                   $     1,309,081  $      1,724,914

Other interest paid or accrued                                              351,457           126,416
                                                                    ---------------  -----------------

Total interest expense                                              $     1,660,538  $      1,851,330
                                                                    ===============  ================

Transfer of investment in operating leases,
   net of accumulated depreciation,
    to equipment held for sale or lease, net                        $    35,761,800  $     38,435,318
                                                                    ===============  ================


</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, 2004

                                   (Unaudited)

1.   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  2003  Annual  Report on Form  10-K.  Certain  2003  amounts  were
reclassified to conform to the 2004 presentation.

2.   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 three months ended March 31, 2004 and 2003
were as follows:


<TABLE>
<CAPTION>

                                                   2004            2003
                                                   ----            ----


<S>                                           <C>             <C>              <C>
Acquisition fees                              $        -      $      736,766   Capitalized as part of investment
                                                                                 in operating leases
Management fees                                     559,734          644,758   Charged to operations
Administrative expense reimbursements               244,331          288,928   Charged to operations
                                              -------------   --------------

                                              $     804,065   $    1,670,452
                                              =============   ===============

</TABLE>

     As a result of the General  Partner's  review of its results of  operations
for its fiscal year ended March 31, 2004 ,  administrative  expenses incurred by
the General  Partner on behalf of the  Partnership of $55,000 were identified as
having been incurred by the General  Partner in the quarter  ended  December 31,
2003.  Accordingly,  this amount was subsequently  charged to the Partnership in
the quarter ended March 31, 2004.

     For the quarter ended March 31, 2004, the  Partnership  had a receivable of
$171,291  due  from   affiliates,   primarily   resulting   from  its  share  of
distributions  and  rental  payments  received  by  affiliates  on behalf of the
Partnership.  The  Partnership  also had a payable of $92,172 due to the General
Partner and  affiliates for  administrative  expense  reimbursements  and rental
payments received on behalf of the affiliates.

3.   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 Joint Ventures

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

<PAGE>


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

        Notes to Condensed Consolidated Financial Statements - Continued

     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. The purchase price consisted of cash of
$11,401,151  and  the  assumption  of  non-recourse  debt  of  $18,304,565.  The
non-recourse debt is structured so as to be amortized with rentals due under the
leases.  The  leases  expire  on  various  dates  through  September  2006.  The
Partnership,  L.P. Seven, L.P. Six and Fund Eight A have ownership  interests of
87.69%, 10.31%, 1.0% and 1.0%,  respectively,  in ICON Cheyenne. The outstanding
non-recourse debt at March 31, 2004 was $1,081,435.

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

     In 2000, the Partnership  and two affiliates,  L.P. Seven and Fund Eight A,
formed  ICON  Aircraft  24846 LLC ("ICON  Aircraft  24846")  for the  purpose of
acquiring an investment  in a Boeing  767-300ER aircraft  originally  leased to
Scandinavian  Airline Systems  ("SAS") for a purchase price of $44,515,416.  The
purchase  price  was  funded  with  cash of  $2,241,371  and the  assumption  of
non-recourse  debt of  $42,274,045.  The lender has a security  interest  in the
aircraft. The lease with SAS expired in March 2003, at which time the balance of
the non-recourse debt outstanding was approximately $34,500,000. The Partnership
has been making  contributions  toward interest only payments on the outstanding
non-recourse debt, during the remarketing of the aircraft by the General Partner
(See  Note 5).  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
outstanding non-recourse debt at March 31, 2004 was $34,491,632.

     The Partnership  paid, on behalf of ICON Aircraft 24846 maintenance fees of
$109,260 for the aircraft owned by ICON Aircraft 24846, LLC.

     In the quarter  ended March 31,  2004,  the  Partnership  reclassified  the
Boeing 767-300ER  aircraft held in the consolidated  joint venture ICON Aircraft
24846 from an investment in operating lease to equipment held for sale or lease.
The cost of the aircraft was $44,515,415 and the  accumulated  depreciation  was
$8,753,615  for a net value of  $35,761,800 at March 31, 2004. The aircraft will
continue to be evaluated for impairments  during the remarketing  efforts of the
General  Partner.  The current net book value is below the estimated fair market
value of the aircraft.

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

     In 2003, the Partnership and 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 for a purchase
price of $27,287,644,  which was funded with cash of $3,076,564 and non-recourse
debt of $24,211,080.  In addition,  there was a total of $818,629 in acquisition
fees paid to the General Partner of which the Partnership's  share was $736,766.
The lenders have a security  interest in the aircraft and an  assignment  of the
rental payments under the lease. 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  $2,916,523.  The outstanding non-recourse debt as of March 31,
2004 was $16,326,065.

     The  Partnership  and Fund Nine have  ownership  interests  of 90% and 10%,
respectively, in ICON 47820.


<PAGE>


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

        Notes to Condensed Consolidated Financial Statements - Continued

Unconsolidated Joint Ventures

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

     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 is subject to  non-recourse  debt  provided by  unaffiliated
lenders.  As of March 31,  2004,  there was  $61,078,946  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,  paid to the
General Partner.

     Information  as to the unaudited  results of its  operations  for the three
months ended March 31, 2004 and 2003 is summarized below:

                                  Three Months Ended       Three Months Ended
                                    March 31, 2004           March 31, 2003
                                    --------------           --------------

Net income                          $      149,756           $      101,999
                                    ==============           ==============

Partnership's share of net income   $       74,878           $       50,999
                                    ==============           ==============

     ICON SPK 2023-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 through April 2008.

     The  Partnership  and Fund Nine have  ownership  interests  of 49% and 51%,
respectively.  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 unaudited  results of its  operations  for the three
months ended March 31, 2004 and 2003 is summarized below:

                                     Three Months Ended       Three Months Ended
                                       March 31, 2004           March 31, 2003
                                       --------------           --------------

Net income                             $       13,853           $        25,870
                                       ==============           ===============

Partnership's share of net income      $        6,788           $        12,676
                                       ==============           ===============

Distributions                          $      459,270           $       678,847
                                       ==============           ===============

Partnership's share of distributions   $      225,043           $       332,635
                                       ==============           ===============

     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 $8,410,000 in cash, and assumed  non-recourse debt
of $6,918,091  consisting  of a senior debt of  $6,679,355  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.  The outstanding debt
at March 31, 2004 was $1,946,594

     The original lease term expires in July 2004. The lessee has entered into a
lease extension until 2009.  During the extension term, the rental payment is in
part a function of natural gas prices.  If natural gas prices are  sustained  at
the current record high levels,  rental  payments will be deferred until natural
gas prices  return to previous  levels.  High  natural  gas prices,  such as the
current level,  sustained over the long term will directly  affect the viability
of the  cogeneration  facility and may impede the LLC's ability to capitalize on
its investment.

     The  Partnership  and Fund Nine  have  ownership  interests  of 5% and 95%,
respectively.  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.

     Information  as to the unaudited  results of its  operations  for the three
months ended March 31, 2004 and 2003 is summarized below:

                                    Three Months Ended   Three Months Ended
                                      March 31, 2004       March 31, 2003
                                      --------------       --------------

Net income                            $       271,585    $        189,444
                                      ===============    ================

Partnership's share of net income     $        13,579    $          9,472
                                      ===============    =================

Distributions                         $        42,466    $        219,496
                                      ===============    ================

Partnership's share of distributions  $         2,123    $         10,975
                                      ===============    =================

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

     In December 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 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  lender  has a  security  interest  in  the  aircraft  and  an
assignment  of the rental  payments  under the lease.  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.

<PAGE>

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

        Notes to Condensed Consolidated Financial Statements - Continued

     The  Partnership  and Fund Nine have  ownership  interests  of 15% and 85%,
respectively.  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.

     Information  as to the unaudited  results of its  operations  for the three
months ended March 31, 2004 and 2003 is summarized below:

                                          Three Months Ended  Three Months Ended
                                            March 31, 2004      March 31, 2003
                                            --------------      --------------

Net loss                                    $       33,183      $      (23,861)
                                            ==============      ==============

Partnership's share of net income (loss)    $        4,977      $       (3,579)
                                            ==============      ==============

4.   Allowance for Doubtful Accounts

     During the quarter  ended March 31, 2004,  the  Partnership  established  a
provision for doubtful accounts of $411,742 for Kmart,  Inc., based upon Kmart's
failure to make  monthly  payments for the quarter on one of the five leases the
Partnership has with the lessee. In current  proceedings in the U.S.  Bankruptcy
Court,  Kmart is  attempting  to  reject  the  lease.  At March  31,  2004,  the
non-recourse  debt  associated with the equipment was $3,398,406 and the related
gross receivable was $3,810,148.  The Partnership is monitoring the proceedings,
as the lender of the non-recourse debt is contesting the rejection of the lease.

<PAGE>

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

                                 March 31, 2004

     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 and notes dated
December  31, 2003  included in the  Partnership's  annual  report on Form 10-K.
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, 2004 and 2003

     Revenues  for the quarter  ended March 31, 2004 (the "2004  Quarter")  were
$5,018,539  representing  a decrease of $1,316,461  from the quarter ended March
31, 2003 (the "2003 Quarter"). The decrease in revenue resulted primarily from a
decrease in rental income of $632,073, a decrease in finance income of $240,112,
and an increase in net loss on sale of equipment  of  $478,075.  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.
The  decrease  in rental  income  resulted  from  expiration  of leases on which
rentals are based.  Net loss on sale of equipment  increased  due to the sale of
equipment from the portfolio of leases held by the ICON Cheyenne which generated
net  losses.  These  decreases  were  offset  by  an  increase  in  income  from
investments in unconsolidated joint venture.

     Expenses for the 2004 Quarter were  $7,316,459  representing an increase of
$456,657 over the 2003 Quarter. The primary reasons for the increase in expenses
were  that  depreciation   expense  increased  by  $216,121  due  to  additional
investments in operating  leases made  subsequent to the 2003 Quarter.  Aircraft
maintenance of $109,260 due to maintenance  expense  associated  with the Boeing
767-300ER  aircraft that was previously  leased to Scandinavian  Airline Systems
(See Note 3 of the condensed  consolidated  financial  statements).  General and
administrative  expenses  increased  by  $158,628  due  to  increases  in  taxes
associated  with  equipment on lease.  A provision for bad debts of $411,742 was
recorded for one of the  Partnership's  investment in finance  leases,  while no
provision  was required  for the 2003  quarter.  The  increase in expenses  were
partially  offset by a  decrease  in  interest  expense of  $190,792  due to the
overall decrease in the average size of the lease portfolio in the ICON Cheyenne
joint venture in the 2004 Quarter as compared to the 2003 Quarter.  Decreases in
Management   fees  -  General   Partner  of  $99,597,   administrative   expense
reimbursements  - General Partner of $44,597 and  amortization of initial direct
costs of  $23,558  were the  result of a  decrease  in the  average  size of the
finance and operating lease  portfolios due to lease  terminations or expiration
of leases.  An increase in minority interest (income) expense of $95,123 was due
to losses incurred in two of the Partnership's consolidated joint ventures.

     Net loss for the quarters  ended March 31, 2004 and 2003 was $2,297,920 and
$524,802,  respectively.  The net loss per weighted average limited  partnership
unit  outstanding was $3.05 and $0.69 for, the quarters ended March 31, 2004 and
2003, respectively.

<PAGE>

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

                                 March 31, 2004

Liquidity and Capital Resources

     The Partnership's  primary source of funds for the three months ended March
31, 2004 were cash proceeds associated with equipment sold and advances received
and  for the  sale  of  equipment  of  $2,487,260,  proceeds  from  the  sale of
unguaranteed   residuals   of  $323,577,   and   distributions   received   from
unconsolidated joint ventures of $227,166.  Distributions to partners aggregated
$1,505,566.  As a result  of this  activity,  the  Partnership's  liquidity  was
increased during the 2004 Quarter over the corresponding quarter March 31, 2003.
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.

     From time to time the Partnership will invest in industries,  equipment, or
geopolitical  regions that may be subject to outside  influences that may affect
the  Partnership's  investments.  While these  factors are  considered  when the
investments are made, unforeseen events such as those that occurred on September
11, 2001 can have  far-reaching,  and unpredictable  adverse  consequences.  The
following is a discussion of some assets that may fall into this category.

     Aircraft:  The  Partnership  is  the  lessor  of  several  aircraft  leased
throughout the world.  The value of the aircraft is subject to the  fluctuations
of the airline  industry,  which are greatly  influenced  by a number of factors
including,  but not  limited  to, the global  economy,  fuel  prices,  political
instability,  terrorist  activity,  and epidemics such as SARS. The Fund is also
the lessor of aircraft  rotables  and an engine;  the value of these  assets are
tied directly to the state of the aircraft market.

     Kmart-lessee: The Partnership is the lessor of 210 Noritsu  Optical/Digital
photo  processing  mini-labs  located at Kmart retail  locations  throughout the
country.

     On January 22,  2002,  Kmart and its  affiliate  debtors  filed a voluntary
petition  in the United  States  Bankruptcy  Court for the  Eastern  District of
Illinois  seeking  relief  under  Chapter  11 of Title 11 of  U.S.C.,  11 U.S.C.
(Section)101, et seq as amended.

     The Partnership was one of multiple lessors that financed mini-labs.  Kmart
neither  affirmed  nor  rejected  any of the leases for this  equipment in their
current form.  Instead,  Kmart attempted to invoke a provision  within the lease
agreements  that  allegedly  allows Kmart to substitute  like  equipment on each
schedule  even if the  equipment is  encumbered.  Kmart's plan was to substitute
equipment  among the various  schedules,  regardless  of  lessor/lender,  and to
affirm or reject each newly defined schedule.

     On January 24, 2003 Kmart filed its Joint Plan of Reorganization. The plan,
which  excluded any of the schedules of the  mini-labs,  was confirmed and Kmart
emerged  from  Bankruptcy  on  May  5,  2003.  The  court   maintained   special
jurisdiction over the mini-lab leases.  Kmart and the lessors/lenders each filed
motions  for   summary   judgment   supporting   their   respective   positions.
Subsequently, the court rejected each of the motions and has ordered the parties
go to trial.  As of March 31, 2004,  several  lenders and lessors  including the
Partnership have retained counsel to attempt to resolve the matter.

     While the  Partnership  expects  to  prevail  in this  matter,  there is no
certainty of the outcome and therefore the Partnership may be adversely affected
by an unfavorable  decision of the Bankruptcy Court. The Partnership in its 2003
annual  report on Form 10K,  had  indicated  that Kmart was  current on payments
through March 2004.  This  statement was made as a result of having not received
notice from any lenders of a payment  default.

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

                                 March 31, 2004

     On May 30,  2002,  the  Partnership  entered into a  $17,500,000  joint and
several line of credit  agreement  shared with L.P.  Seven and Fund Eight A L.P.
(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,  5.00% at March 31, 2004) 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 Fund Nine,
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 line of credit was extended for twelve  additional  months expiring December
31, 2004. As of March 31, 2004, the Partnership had $2,000,000 outstanding under
the line.  Aggregate  borrowing by all Funds under the line of credit  agreement
aggregated $14,039,986 on March 31, 2004.

     Cash  distributions  to  limited  partners  for the 2004  Quarter  and 2003
Quarter,   which  were  paid  monthly,   totaled   $1,490,510  and   $2,011,452,
respectively.

     The Partnership paid on behalf of ICON Aircraft 24846, LLC, maintenance fee
of  $109,260  for the sole  aircraft  owned by ICON  Aircraft  24846,  LLC.  The
aircraft was on lease to Scandinavian  Airlines  Systems through March 2003. The
Partnership is currently  negotiating  with another airline with whom affiliates
of the Partnership have been conducting business.

     In the quarter ended March 31, 2004, the Partnership  reclassified a Boeing
767-300ER  aircraft held in the  consolidated  joint venture ICON Aircraft 24846
from an investment in operating  lease to equipment held for sale or lease.  The
cost of the  aircraft  was  $44,515,415  and the  accumulated  depreciation  was
$8,753,615  for a net value of  $35,761,800 at March 31, 2004. The aircraft will
continue to be evaluated during the remarketing  efforts of the General Partner.
The current net value is below the fair market value of the aircraft.

     As of  March  31,  2004,  except  as  noted  above,  and to the best of our
knowledge,  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.

<PAGE>

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

                                 March 31, 2004

Item 3.  Qualitative and Quantitative Disclosures About Market Risk

     The  Partnership is exposed to certain market risks,  including  changes in
interest rates and the demand for equipment (and the related residuals) owned by
the Partnership and its investors.

     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 $2,000,000  outstanding under the floating rate
line of credit as of March 31, 2004.

     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

     The Partnership  carried out an evaluation,  under the supervision and with
the  participation  of  management  of ICON  Capital  Corp.,  the Manager of the
Partnership,  including  the  Principal  Executive  Officer  and  the  Principal
Financial  Officer,  of the  effectiveness  of the design and  operation  of the
Partnership's  disclosure  controls and  procedures  as of the end of the period
covered by this report  pursuant to the Securities  Exchange Act of 1934.  Based
upon the evaluation, the Principal Executive Officer and the Principal Financial
Officer concluded that the Partnership's disclosure controls and procedures were
effective.

     There were no significant  changes in the  Partnership's  internal  control
over  financial  reporting  during the  Partnership's  first  quarter  that have
materially  affected,  or are likely to  materially  affect,  the  Partnership's
internal control over financial reporting.

<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 3 - Defaults Upon Senior Securities

     During the quarter  ended March 31, 2004,  the  Partnership  established  a
provision for doubtful accounts of $411,742 for Kmart,  Inc., based upon Kmart's
failure to make  monthly  payments for the quarter on one of the five leases the
Partnership has with the lessee. In current  proceedings in the U.S.  Bankruptcy
Court,  Kmart is  attempting  to  reject  the  lease.  At March  31,  2004,  the
non-recourse  debt  associated with the equipment was $3,398,406 and the related
gross receivable was $3,810,148.  The Partnership is monitoring proceedings,  as
the lender of the non-recourse debt is contesting the rejection of the lease.

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

(b)  Reports on Form 8-K

     None

(c)  Exhibits

     32.1 Certification of Chairman and Chief Executive Officer

     32.2 Certification of Executive Vice President and Principal  Financial and
          Accounting Officer.

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

     33.2 Certification of Executive Vice President and Principal  Financial and
          Accounting  Officer  pursuant to 18 U.S.C.  (Section)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 18, 2004           /s/ Thomas W. Martin
   -----------------------    ----------------------------------------
          Date                Thomas W. Martin
                              Executive Vice President
                              (Principal Financial and Accounting Officer of the
                              General Partner of the Registrant)

<PAGE>

Exhibit 32.1

     Principal  Executive Officer  Certification  Pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002 (18 U.S.C. 1350)


                              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-15e and 15d-15e) for the registrant and we have:

     a)   designed  such  disclosure  controls  and  procedures,  or caused such
          disclosure   controls  and   procedures  to  be  designed   under  our
          supervision,  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 and presented in this quarterly  report our conclusions
          about the  effectiveness of the disclosure  controls and procedures as
          of the end of the period  covered by this  quarterly  report  based on
          such evaluation; 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;

     d)   disclosed  in this  report  any  change in the  registrant's  internal
          control over financial reporting that occurred during the registrant's
          most  recent  fiscal  quarter  that  has  materially  affected,  or is
          reasonably  likely to materially  affect,  the  registrant's  internal
          control over financial reporting.

5.   The registrant's other certifying  officers and I have disclosed,  based on
     our most recent evaluation of internal control over financial reporting, to
     the  registrant's  auditors  and the board of  directors  of the  Corporate
     Manager (or persons performing the equivalent function):

     a)   all significant  deficiencies and material weaknesses in the design or
          operation of internal  control,  are  reasonably  likely to materially
          affect  the  Partnership  ability to record,  process,  summarize  and
          report financial information 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 over financial reporting.

Dated:  May 18, 2004

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

<PAGE>

Exhibit 32.2

Principal  Executive  Officer  Certification  Pursuant  to  Section  302  of the
Sarbanes-Oxley Act of 2002 (18 U.S.C. 1350)

                              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-15e and 15d-15e) for the registrant and we have:

     a)   designed  such  disclosure  controls  and  procedures,  or caused such
          disclosure   controls  and   procedures  to  be  designed   under  our
          supervision,  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 and presented in this quarterly  report our conclusions
          about the  effectiveness of the disclosure  controls and procedures as
          of the end of the period  covered by this  quarterly  report  based on
          such evaluation; 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;

     d)   disclosed  in this  report  any  change in the  registrant's  internal
          control over financial reporting that occurred during the registrant's
          most  recent  fiscal  quarter  that  has  materially  affected,  or is
          reasonably  likely to materially  affect,  the  registrant's  internal
          control over financial reporting.

5.   The registrant's other certifying  officers and I have disclosed,  based on
     our most recent evaluation of internal control over financial reporting, to
     the  registrant's  auditors  and the board of  directors  of the  Corporate
     Manager (or persons performing the equivalent function):

     a)   all significant  deficiencies and material weaknesses in the design or
          operation of internal  control,  are  reasonably  likely to materially
          affect  the  Partnership  ability to record,  process,  summarize  and
          report financial information 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 over financial reporting.

Dated:  May 18, 2004

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

<PAGE>

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

                                 March 31, 2004


EXHIBIT 33.1

     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, 2004 (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 18, 2004




 /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, 2004


EXHIBIT 33.2


     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, 2004 (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 18, 2004




/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.