UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                                    FORM 10-K

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



For the fiscal year ended December 31, 1996          Commission File No. 2-92914

                        Columbia Lease Income Fund A L.P.
             (Exact Name of Registrant as Specified in its Charter)


Delaware                                                              13-3263094
(State or other jurisdiction                   (IRS Employer Identification No.)
 of incorporation or organization)


One Financial Center, 21st Floor, Boston, MA                               02111
(Address of principal executive offices)                              (Zip Code)


Registrant's telephone number, including area code                (617) 482-8000

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

           Securities registered pursuant to Section 12(b) of the Act
                                      None

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

           Securities registered pursuant to Section 12(g) of the Act
                     Units of Limited Partnership Interests

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


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

                           Yes     X            No

State the aggregate market value of the voting stock held by  non-affiliates  of
the  registrant  as of March 26, 1996:  Not  applicable,  since  securities  are
non-voting.

                   Documents incorporated by reference: None.

                            Exhibit Index on Page: 35

                                  Page 1 of 38


<PAGE>


Corporate organization as discussed in Part I, Item 1 Business is as follows:

TLP Holding LLC  ("Holding")  controls TLP Leasing  Programs,  Inc. ("TLP"), TLP
Management  Services,  Inc.  ("TLPMS"),  and TLP Securities,  Inc.  TLP controls
TLP Columbia  Management Corp.  ("TCMC") which serves as General Partner to the
Columbia  Lease  Income  Funds.  Torchmark  Corporation  ("Torchmark")  controls
TMK/United,  Inc.  which  controls  Waddell  and  Reed Financial Services,  Inc.
("Waddell and Reed").

Through various  dealer-manager  arrangements,  TLP, TLPMS, and Waddell and Reed
serve  as  corporate  general  partners  to the  Wellesley  Leasing  Partnership
("Wellesley General Partner") and the Hanover Leasing Partnership. The Wellesley
General  Partner is the general  partner for the Wellesley  Lease Income Limited
Partnerships.  Hanover  Leasing  Partnership  serves as the General  Partner for
Hanover Lease Income Limited Partnership with BOT Financial  Corporation serving
as agent.



<PAGE>


                                     PART I

Item 1.       BUSINESS

General  Development  of  Business.  Columbia  Lease  Income  Fund A  L.P.  (the
"Partnership")  is a limited  partnership  organized under the provisions of the
Delaware Revised Uniform Limited Partnership Act on August 13, 1984. At December
31,  1996,  TLP  Columbia  Management   Corporation   ("TCMC"),  a  wholly-owned
subsidiary of its parent company,  TLP Leasing Programs,  Inc.  ("TLP"),  is the
sole General Partner of the Partnership. TLP is a wholly-owned subsidiary of TLP
Holding LLC.

By the  Agreement  Relating to the  Admission of TCMC as an  Additional  General
Partner of Certain Limited  Partnerships  dated June 30, 1993 (the "Agreement"),
as referenced  in Form 8-K filing dated June 30, 1993,  the then current and now
former  General   Partner  of  the  Registrant,   Meridian-Columbia   Management
Corporation ("Meridian-CMC"),  agreed to admit TCMC as a co-General Partner (see
Management Agreement below).

Pursuant  to the above  Agreement  and as  referenced  in Form 8-K filing  dated
November 30, 1993, Meridian-CMC, co-General Partner withdrew, effective November
30, 1993, as  co-General  Partner  pursuant to Article II Section  2.4(b) of the
Limited   Partnership   Agreement  (see  Withdrawal  of   Meridian-CMC   below.)
Meridian-CMC,   a  wholly-owned   subsidiary  of  Meridian  Leasing  Corporation
("Meridian") was admitted as an additional General Partner of the Partnership on
November 2, 1989.  TM-Columbia  Management  Corporation  ("TMC"), a wholly-owned
subsidiary of Thomson  McKinnon Inc.  ("TMI") was a General  Partner from August
13,  1984  until  October  14,  1990  when  TMC  voluntarily  withdrew  from the
Partnership.

The  Partnership is engaged in the business of: (i) acquiring  certain types and
kinds of primarily new, but also used, equipment  consisting  principally of IBM
peripheral devices for large and small data processing systems, fully configured
small processing  systems,  computer terminals and other information  processing
devices ("Equipment"); and (ii) leasing Equipment primarily pursuant to a series
of short-term net operating leases, with an initial lease in effect or committed
to  at  the  time  of  acquisition   with  a  lessee  which  is  a  publicly  or
privately-held company considered creditworthy by the General Partner, generally
a "Fortune  1000"  company or  subsidiary,  bank,  insurance  company or utility
(lower credit criteria may be used for remarketed Equipment users).

The Partnership has acquired Equipment using funds from non-recourse borrowings.
Such  borrowings  may  equal up to 80% of the  aggregate  purchase  price of all
Equipment  acquired,  but  generally  will not exceed 50%.  The  Partnership  is
intended to provide Limited Partners of the Partnership (the "Limited Partners")
with quarterly cash distributions from revenue derived from Equipment and leases
thereof.

The Partnership  also intends to reinvest a portion of its cash from operations,
and a substantial  portion of any available cash from sales or refinancings,  in
additional  Equipment  during its first nine years of operations,  provided that
distributions  are made to Limited  Partners in amounts  sufficient to pay their
federal income tax liability  (assuming each Limited Partner is in a 30% federal
income tax bracket) created by such operations, sales or refinancings.

Until such time as the General Partner  determines that it would be advisable to
sell all or some of the  Equipment,  the  Partnership  will endeavor to keep the
Equipment on lease pursuant to a series of short-term net operating  leases.  It
is currently  anticipated that all of the Equipment will be disposed of, and the
Partnership  will be  terminated,  in or  about  the  year  2000,  although  the
Partnership  agreement provides for a term ending in the year 2010. In addition,
the General Partner may cause the Partnership to dispose of all of the Equipment
and to liquidate at any time after the Partnership's tenth year of operations.

General  Partner.  The General Partner,  among other things,  (i) determines and
revises, as and when it deems necessary, a list of Equipment and equipment lease
characteristics, which make an item of Equipment suitable for acquisition by the
Partnership;  (ii) makes all final decisions regarding,  among other things, the
Partnership's acquisition,  financing,  refinancing, leasing, re-leasing or sale
of  Equipment;   (iii)  independently  verifies  certain  types  of  information
concerning selected Equipment and the leases therefore; and (iv) maintains books
and records  concerning  Equipment in addition to those  maintained by Suppliers
(as defined  below in Supplier  Agreements).  The  General  Partner  advises and
supervises  Suppliers  generally  with respect to: (a) locating,  evaluating and
negotiating  the  acquisition of Equipment;  (b) negotiating the terms of leases
for Equipment;  (c) negotiating the terms of Partnership debt  obligations;  (d)
negotiating  re-leases  or sales of  Equipment  upon the  expiration  or earlier
termination of the leases thereof; (e) supervising the payment of, or collecting
of, rentals from Partnership lessees;  (f) supervising,  monitoring and auditing
the  payment  of all  personal  property,  use and  sales  taxes  applicable  to
Equipment;  (g) inspecting Equipment;  (h) maintaining liaison with lessees, and
generally  supervising  lessees  to  assure  that  Equipment  is being  properly
operated  and  maintained;   (i)  supervising  maintenance  of  Equipment;   (j)
supervising and  coordinating  the acquisition of casualty,  liability and other
types of insurance  relating to Equipment;  and (k)  monitoring  performance  by
Partnership lessees of their obligations under their leases of Equipment.

The  General  Partner is  entitled  to receive  acquisition  fees for  locating,
evaluating,  selecting,  negotiating and closing acquisitions of Equipment.  The
acquisition  fee  generally  equals  2.5%  of the  purchase  price  paid  by the
Partnership for each item of Equipment  acquired;  provided,  however,  that the
total amount of all  acquisition  fees paid to the General  Partner(s)  over the
life of the Partnership shall not exceed 15% of the total capital  contributions
received by such  Partnership.  In addition,  the General Partner is entitled to
receive an equipment management fee for its active management of Equipment and a
subordinated  resale fee for  arranging  the sale of  Equipment.  The  equipment
management fee equals up to 6% of gross rental payments  payable with respect to
Equipment  for the quarter for which such payment is made,  except for Equipment
subject to certain  leases  referred to in the  Partnership  agreement  as "Full
Payout  Leases",  for which the equipment  management fee shall not exceed 2% of
the gross  rental  payments.  The  resale fee equals the lesser of (i) 3% of the
sales proceeds or (ii) one-half of the competitive  equipment sales  commission.
In addition,  the General Partner is entitled to receive  reimbursement  for the
administrative services necessary for the prudent operation of the Partnership.

Supplier  Agreements.  Certain of the  General  Partner's  responsibilities  are
performed by equipment  leasing companies  ("Suppliers")  with experience in the
business of owning,  leasing and managing  equipment.  Suppliers  perform  these
services   pursuant  to   agreements   with  the  General   Partner   ("Supplier
Agreements"),  subject to the  General  Partner's  supervision.  Pursuant to the
admission of TCMC as a co-General  Partner and the withdrawal of Meridian-CMC as
discussed above, TCMC has agreed to the existing supplier agreements as executed
by Meridian.  Meridian has entered into  Supplier  Agreements  with Meridian and
Meridian Sales and Leasing,  Inc.,  ("MSL") (formerly Thomson McKinnon Sales and
Leasing Inc.). MSL was a wholly-owned  subsidiary of TMI until June 22, 1988, at
which time it was acquired by Meridian.  The General Partner may also enter into
agreements  for the purchase of specific  items of Equipment  with other leasing
companies.

Pursuant to the Supplier  Agreements,  each Supplier is responsible,  subject to
the supervision of the General  Partner,  for the performance of certain general
and day-to-day  management services of the Partnership,  including  acquisition,
management and reporting services, which services generally are performed at the
Supplier's sole cost and expense,  in a commercially  reasonable manner and with
no less care than would be given to other equipment owned,  leased or managed by
the Supplier or any of its affiliates.

Under the Supplier Agreements, compensation for locating, managing and reselling
equipment is paid to each Supplier in amounts  deducted  from the  corresponding
compensation  payable by the Partnership to the General  Partner.  Generally,  a
Supplier's compensation for such services equals 80% of the acquisition fee, 50%
of the  management  fee and 50% of the resale  fee.  MSL's  resale  fees will be
subordinated to the same extent as resale fees earned by the General Partner.

A Supplier  may also be  entitled  to receive  incentive  fees in the  following
circumstances:  (i) if it locates a possible transaction which meets the General
Partner's  criteria for  acceptable  Partnership  investments  and the Equipment
subject to the possible transaction is purchased by the Partnership; and (ii) if
it benefits the  Partnership  by obtaining a lease for  Equipment  with a better
than market  rental  rate,  a loan to acquire  Equipment  at a lower than market
interest  rate,  Equipment  at a lower than  market  purchase  price,  favorable
payment terms from the vendor, or a combination of the foregoing.

Withdrawal  of  Meridian-CMC.  During 1993,  Meridian-CMC  notified  TCMC of its
desire to  voluntarily  withdraw as co-General  Partner of the  Partnership.  To
withdraw as a general partner, the Partnership agreement requires:  (i) there is
remaining  at least one other  general  partner who is willing to  continue  the
operations  of the  Partnership;  (ii) the  Partnership  shall have  received an
opinion of Counsel to the  Partnership to the effect that such  withdrawal  will
not  constitute  a  termination  of  the  Partnership  or  otherwise  materially
adversely  affect the status of the Partnership for federal income tax purposes;
and (iii) the Limited Partners shall have received at least sixty days notice of
the general partner's intention to withdraw. As previously  discussed,  TCMC was
admitted  as  co-General  Partner  on June  30,  1993  and has  been  exercising
management  control over the Partnership since that date and intends to continue
operating in that capacity. Meridian-CMC withdrew from the Partnership effective
November  30,  1993.  TMC,  the former  co-General  Partner  with  Meridian-CMC,
voluntarily withdrew from the Partnership on October 14, 1990.

Management  Agreement.  Prior to the Agreement Relating to the Admission of TCMC
as an Additional General Partner of Certain Limited  Partnerships dated June 30,
1993 (the "Agreement"), TCMC (the "New General Partner") agreed on April 1, 1993
to  assume  overall  responsibility,  subject  to final  approval  and  ultimate
authority of Meridian-CMC (the "Former General  Partner"),  for  administration,
management and operation of the  Partnership and the Other Columbia Lease Income
Funds  ("CLIF")  Partnerships  (see  Related  Parties and  Conflicts of Interest
below) except that TCMC has no responsibility for communicating with the Limited
Partners or making  distributions to the Limited Partners or Meridian-CMC  prior
to November 30, 1993.

As compensation for these services under the above Agreement,  all fees and cash
distributions  derived from the  Partnership's  operations  to which the General
Partner is entitled and which accrues on and after April 1, 1993,  including but
not limited to,  Distributable  Cash From Operations and Distributable Cash From
Sales or Refinancings (as those terms are defined in the Partnership Agreements)
shall be allocated to the New General  Partner.  All  management  fees for rents
received on or after April 1, 1993 that relate to the period on or before  March
31,  1993 shall be  allocated  to the Former  General  Partner.  The New General
Partner  is to remit such fees to the  Former  General  Partner as they are paid
after April 1, 1993. Prior to the New General  Partner's  admission,  the Former
General Partner was entitled to receive 100% of the acquisition fees, management
fees and resale fees (net of amounts payable to Suppliers) until the agreed upon
threshold was reached;  thereafter,  all acquisition  fees and 60% of management
fees and resale fees (net of amounts  payable to Suppliers) were allocated based
upon a sharing agreement with TMC.

TCMC was formed on April 1, 1993 for the specific  purpose of being  admitted as
the  new  general   partner,   managing  the  Partnership  and  the  Other  CLIF
Partnerships   (see  Related  Parties  and  Conflicts  of  Interest  below)  and
discharging the administrative duties of the Former General Partner. TLP Leasing
Programs,  Inc., has extensive experience  administering  numerous publicly-held
limited partnerships owning leased equipment.

Related  Parties and Conflicts of Interest.  The  General  Partner serves or has
served  as  a  general   partner  of  Columbia   Lease  Income  Fund  II-B  L.P.
("CLIF II-B"),  Columbia  Lease Income Fund II-C L.P.  ("CLIF  II-C"),  Columbia
Lease  Income  Fund II-D L.P. ("CLIF II-D"),  and  Columbia  Lease  Income  Fund
II-E L.P. ("CLIF II-E") (the "Other CLIF  Partnerships"),  which have investment
objectives similar to that of the Partnership.

Certain  affiliates  of the  General  Partner,  including  TLP,  are  engaged in
business  activities that are directly in competition with the Partnership,  and
are expected to continue to engage in additional  business activities which will
be competitive with the Partnership. The General Partner, in good faith, devotes
time to the  affairs  of the  Partnership  as it  deems  necessary,  in its sole
discretion,  to fulfill its fiduciary obligation and other obligations under the
Partnership agreement.

Competition for  opportunities  to acquire,  lease,  re-lease and sell equipment
exists between and among the  Partnership and the General  Partner,  one or more
Suppliers  and  their   affiliates,   the  Other  CLIF  Partnerships  and  other
partnerships and entities formed by the General Partner, or its affiliates.

If the Partnership and any other  partnership  with which the General Partner is
affiliated are seeking to acquire the same equipment,  conflicts of interest may
arise as to which entity should acquire that equipment. In such situations,  the
General  Partner will analyze the portfolio of equipment  already  purchased by,
and investment objectives of, each such entity, and will make its decision as to
which entity will purchase the equipment based upon such factors,  among others,
as: (a) the amount and origin (that is, net  proceeds,  Cash From  Operations or
Cash From Sales or  Refinancings)  of cash available in each such entity and the
length of time such funds have been available;  (b) the liabilities of each such
entity;  (c) the effect of such acquisition on the  diversification of each such
entity's equipment portfolio by the type of equipment;  (d) the estimated income
tax  consequences  to each  such  entity  from  such  acquisition  and each such
entity's  needs for current and future  income;  (e) the cash  distribution  and
reinvestment  objectives  of  each  such  entity;  (f)  the  lessee  and  credit
diversification  (geographically or by industry) of each such entity's equipment
portfolio; and (g) the policy of each entity relating to leverage.

In allocating equipment, the General Partner may conclude that it is in the best
interest of the  Partnership  to own  equipment  jointly with one or more of the
Other CLIF  Partnerships.  Such joint venture agreements have been negotiated in
the past and  additional  joint  venture  agreements  may be  negotiated  in the
future.

Risks of Ownership  and  Operation of Equipment.  The  Partnership's  ability to
attain its  investment  objectives is subject to various risks  associated  with
ownership and operation of the Equipment.  In certain  respects,  the success of
the  Partnership  will depend upon the  residual  value of, the demand for,  the
viability  of the  manufacturers  of,  and the  ability  of the  Partnership  to
remarket  Equipment.  Equipment  leasing is subject to, among other things,  the
risk  of  credit  losses,  technological  and  economic  obsolescence,  physical
deterioration  and  malfunction,  and  the  risk  of  defaults  by  lessees  and
purchasers of Equipment.  Technological  developments  can adversely  affect the
ability of the  Partnership  to obtain  renewal or new leases  for,  or to sell,
Equipment. No combination of management ability, experience,  knowledge, care or
scientific approach can avoid the inherent possibilities of loss.

Other risk factors include: (i) changes in technology,  whereby the introduction
of an  entirely  new  technology  could lead to a radical  reduction  in, or the
complete  elimination  of, the value of  certain  Equipment  and make  Equipment
difficult,  or  impossible,  to re-lease or to sell;  (ii) the  residual  (i.e.,
continuing)  values of Equipment  which,  in turn, will affect the return on the
Partnership's equity investments,  and will depend on factors neither controlled
nor controllable by the Partnership, such as: the quality, condition, technology
and  timing  of the  acquisition  of  Equipment;  the  cost  of  comparable  new
equipment; the General Partner's ability to forecast technological changes which
may  adversely  affect the value of  Equipment;  and market  factors;  (iii) the
potential inability of the Partnership to keep all of the Equipment fully leased
at rentals which,  together with any anticipated sale proceeds or salvage value,
will provide an acceptable rate of return on its equity  investment in Equipment
resulting  from:  general  economic  conditions,  including  inflation  and  the
availability  of financing;  fluctuations in supply and demand for various types
of equipment  resulting from,  among other things,  technological  obsolescence;
faster than  expected  introduction  of  replacement  technology;  unanticipated
manufacturers'  price  reductions;  changes in tax laws which may  increase  the
desirability of owning rather than leasing equipment; and increases in operating
expenses  borne by the  Partnership,  if any,  which  cannot be  transferred  to
lessees or matched by commensurate increases in lease revenues; (iv) competition
from other lessors;  competition  from full payout leases,  which  generally are
written for a longer term and at a lower rental rate than the  operating  leases
to be offered by the Partnership;  competition from equipment  manufacturers and
their financing subsidiaries which have the capacity to offer users alternatives
to the purchase of nearly every type of equipment; and competition from numerous
other potential investors,  including limited partnerships organized and managed
similarly to the Partnership,  seeking to purchase  equipment  subject either to
operating  leases or full payout  leases,  many of which have greater  financial
resources and more  experience  than the Partnership and the General Partner and
some of which may be  willing  to  purchase  or lease  Equipment  at rates  less
favorable to the lessor  thereof due to different  residual  value  assumptions,
required  rates of return or other factors;  (v) changes in marketing  policies,
such that benefits derived from lease credit (i.e., applying lease payments as a
credit  toward  purchase of  equipment)  and volume  discounts  which permit the
Partnership  to purchase  Equipment  at a cost lower than its fair market  value
could be  eliminated,  thus  making it more  difficult  for the  Partnership  to
successfully  compete as a lessor of  Equipment;  and (vi)  defaults  by lessees
which may cause  Equipment to be returned to the  Partnership at a time when the
Partnership may be unable to arrange  promptly for its re-lease or sale on terms
satisfactory to the General Partner or on any terms,  thus resulting in the loss
of anticipated revenues and the inability of the Partnership to recover all or a
portion of its equity  investment in the Equipment and to repay the non-recourse
debt, if any, secured by such Equipment and the rentals therefrom.

Three lessees,  Eaton  Corporation,  Northern Indiana Public Service Company and
Sports & Recreation,  Incorporated,  lease equipment in which the related rental
payments exceed 10% of total rental income. The related rental payments comprise
29.01%, 18.92% and 35.92%, respectively, of the total rental income for the year
ended  December 31, 1996.  Eaton  Corporation,  Northern  Indiana Public Service
Company and Sports & Recreation, Incorporated lease equipment comprising 52.06%,
12.77% and 23.00%,  respectively,  of the total equipment  portfolio at December
31, 1996.

Foreign  Operations and Segment Data. The Partnership has not engaged,  and does
not intend to engage,  in material  operations  in foreign  countries,  nor is a
material  portion of the  Partnership's  revenue  intended  to be  derived  from
customers  in foreign  countries.  Since the  Partnership  will  engage  only in
equipment leasing, no industry segment information is provided herein.


<PAGE>


Item 2.       PROPERTIES

At  December  31,  1996,  the  Partnership  owned  computer   equipment  with  a
depreciated cost basis of $76,150,  subject to existing leases. All purchases of
computer  equipment  are subject to a 2.5%  acquisition  fee paid to the General
Partner.



<PAGE>


Item 3.       LEGAL PROCEEDINGS

There are no material  pending legal  proceedings to which the  Partnership is a
party or of which any of its equipment or leases is the subject.



<PAGE>


Item 4.       SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

None.



<PAGE>


                                     PART II

Item 5.     MARKET FOR REGISTRANT'S COMMON STOCK AND RELATED STOCKHOLDER MATTERS

Market  Information.  There is no  established  public  market  for the  Limited
Partnership Units ("Units"), and it is not anticipated that any such market will
develop. Although under no obligation to do so, Prudential Securities,  Inc. has
offered to attempt to match and sell  Units  with  unsolicited  requests  to buy
Units, but may discontinue this service at any time.  Limited Partners also have
a limited right to request the  Partnership  to  repurchase  Units for cash at a
discount  from net asset value.  To date, no such requests have been accepted by
the Partnership.

Holders.  Except for the General  Partner's  interest,  the only class of equity
held in the Partnership is Units of Limited Partnership Interest. As of December
31, 1996, 1,680 Limited Partners owned the 24,383 issued and outstanding Units.

Dividends.  Cash  distributions  are made to Limited Partners and to the General
Partner  on a  quarterly  basis  from  available  funds in  accordance  with the
Partnership  agreement.  Cash  distributions  to the General Partner are further
subject to the Management Agreement between TCMC and TLP. Cash distributions are
derived from (1) Distributable  Cash From Operations and (2) Distributable  Cash
From Sales or Refinancings. "Distributable Cash From Operations" means cash from
operations,  as reduced by (i)  amounts  which the  General  Partner  determines
(through the ninth anniversary of the Partnership's final closing date) shall be
reinvested in additional Equipment and which ultimately are so reinvested,  (ii)
payments of all accrued but unpaid equipment management fees (to the extent that
payment  thereof is required by the Partnership  agreement to be deferred),  and
(iii) after Payout, payments of all accrued but unpaid subordinated resale fees.
"Distributable  Cash  From  Sales or  Refinancings"  means  cash  from  sales or
refinancings,  as reduced by (i) amounts  which the General  Partner  determines
(through the ninth anniversary of the Partnership's final closing date) shall be
reinvested in additional Equipment and which ultimately are so reinvested,  (ii)
payments of all accrued but unpaid  equipment  management  fees, and (iii) after
Payout, payments of all accrued but unpaid subordinated resale fees.

Each distribution of Distributable Cash From Operations of the Partnership shall
be  allocated  95% to the Limited  Partners and 5% to the General  Partner.  Any
Distributable  Cash From Sales or  Refinancings  from gains and losses  shall be
allocated  99% to the  Limited  Partners  and 1% to the  General  Partner  until
"Payout" has occurred.  "Payout" means the time when the aggregate amount of all
distributions to the Limited Partners of Distributable  Cash From Operations and
of Distributable Cash From Sales or Refinancings  equals the aggregate amount of
the Limited  Partners'  original  invested  capital plus a cumulative  8% annual
return  (compounded daily) on their aggregate  unreturned capital  contributions
invested capital (calculated from the beginning of the first full fiscal quarter
following the Partnership's closing date).  Thereafter,  85% will be distributed
to the  Limited  Partners  and 15% to the  General  Partner,  subject to certain
adjustments.  Including  the  distribution  for the fourth  quarter of 1996 made
February 15, 1997,  the cumulative  distributions  to date are $597.74 per Unit.
This cumulative  distribution per Unit amount represents 59.47% of Payout. It is
not  anticipated   that  Payout  will  occur  as  of  the  liquidation  of  this
Partnership.

Distributable Cash From Operations, if any, and Distributable Cash From Sales or
Refinancings,  if any, are  distributed  within 60 days after the  completion of
each of the first three fiscal quarters of the Partnership's  December 31 fiscal
year,  and within 120 days after the  completion  of each fiscal year  beginning
after the first full fiscal quarter  following the  Partnership's  final closing
date.



<PAGE>


During the fiscal year ended  December 31,  1996,  the  Partnership  distributed
Distributable  Cash  From  Operations  and  Distributable  Cash  From  Sales  or
Refinancings aggregating $274,310 to Limited Partners as follows:

<TABLE>
<CAPTION>

Distribution                           Record                               Total                         Distribution
    Date                                Date                             Distribution                     per $500 Unit
---------------                       ---------                          ------------                     -------------

<S>                                 <C>                                <C>                                  <C>
May 15, 1996                        March 31, 1996                     $       60,958                       $     2.50
August 15, 1996                     June 30, 1996                              60,958                             2.50
November 15, 1996                   September 30, 1996                         91,436                             3.75
February 15, 1997                   December 31, 1996                          60,958                             2.50
                                                                       --------------                       ----------

                                                 Total                 $      274,310                       $    11.25
                                                                       ==============                       ==========
</TABLE>




<PAGE>






Item 6.       SELECTED FINANCIAL DATA

The following  table sets forth  selected  financial  information  regarding the
Partnership's operations and financial position at the dates and for the periods
shown.  This  information  should  be used in  conjunction  with  the  financial
statements  and notes  thereto  and  Management's  Discussion  and  Analysis  of
Financial  Condition and Results of  Operations,  which are included in Items 7.
and 8. below.

<TABLE>
<CAPTION>
                                                                    For the Years Ended December 31,
                                        1996                1995                1994               1993                1992
                                    -------------      --------------      -------------       -------------       -------------

<S>                                <C>                <C>                 <C>                 <C>                 <C>           
Operating Data
Rental income on
   operating leases                $      324,458     $       517,822     $      716,667      $      879,687      $    1,199,633
Net income                                214,690              25,822            176,143             234,125             383,697
Net income per Limited
   Partnership Unit                          8.36                1.00               6.86                9.12               14.95

Balance Sheet Data
Total assets                       $      173,197     $       255,289     $      865,215      $    1,660,371      $    2,804,457
Long-term debt                                  -                   -             37,801              90,647             172,851
Net asset value                            64,633             138,689            562,025           1,107,877           2,147,220
Net asset value per
   Limited Partnership Unit                  2.65                5.69              23.05               45.44               88.47
Distributions to partners                 288,746             449,158            721,995           1,273,468           1,219,150
Distributions per Limited
   Partnership Unit                         11.25               17.50              28.13               50.00               50.00

</TABLE>


<PAGE>


Item 7.       MANAGEMENT'S DISCUSSION AND ANALYSIS OF
              FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Results of Operations.

The following discussion relates to Partnership's  operations for the year ended
December 31, 1996, in comparison to the years ended December 31, 1995 and 1994.

The Partnership  realized net income of $214,690,  $25,822, and $176,143 for the
years ended  December 31, 1996,  1995 and 1994,  respectively.  Rental income on
operating leases decreased $193,364 or 37% and $198,845 or 28% in 1996 and 1995,
respectively.  The  decrease in rental  income each year is due to lower  rental
rates obtained on equipment lease extensions and remarketings  after the initial
lease  term has  expired  and due to a  decrease  in the  size of the  equipment
portfolio.  No earned  income on direct  financing  leases  has been  recognized
during  the  current  year,  as all  direct  financing  leases  expired in 1995.
Interest income remained flat from 1995, but decreased  $2,081 from 1994 to 1995
as a result of lower average short-term  investment balances held each year. The
increase in net gain on sale of equipment is  attributed to the larger number of
sales of equipment in 1996 carrying lower net book values compared to a net loss
on sale of equipment during the prior year.

Total costs and expenses  decreased 69% and 28% in 1996 and 1995,  respectively,
compared to prior  periods.  The decrease in costs and expenses is primarily due
to the decrease in depreciation  expense.  Depreciation  expense  decreased each
year  due  to  a  large  portion  of  the  equipment  portfolio  becoming  fully
depreciated and a reduction in the overall equipment portfolio.  Management fees
have  decreased in relation to the decline in rental  income for the years ended
December 31, 1996, 1995 and 1994. General and  administrative  expenses remained
relatively flat between 1996 and 1995. The net $57,142 reversal of the provision
for doubtful  accounts in the current year is  primarily  due to the  successful
collection of a sales proceed receivable that had been fully reserved in a prior
period.

The  Partnership  recorded  net  income  per Limited  Partnership Unit of $8.36,
$1.00,  and  $6.86  for  the  years  ended  December  31,  1996, 1995  and 1994,
respectively.

Liquidity and Capital Resources.

For the year ended December 31, 1996,  rental  revenue  generated from operating
leases was the primary source of funds for the Partnership.  As equipment leases
terminate,  the General Partner  determines if the equipment will be extended to
the same lessee,  remarketed  to another  lessee,  or if it is less  marketable,
sold.  This decision is made upon analyzing which option would generate the most
favorable results.

Rental income on operating  leases will continue to decrease due to two factors.
The first factor is the rate  obtained  when the original  leases expire and are
remarketed at a lower rate. Typically, the remarketed rates are lower due to the
decrease in useful life of the equipment.  Secondly,  the  increasing  change of
technology  in the  computer  industry  usually  decreases  the demand for older
equipment,  thus  increasing  the  possibility  of  obsolescence.  Both of these
factors  together will cause  remarketed  rates to be lower than original rates.
This decrease however,  should not affect the Partnership's  ability to meet its
future  cash  requirements.  To the extent  that  future  cash  flows  should be
insufficient  to meet the  Partnership's  operating  expenses  and  liabilities,
additional funds could be obtained through the sale of equipment, or a reduction
in the rate of cash distributions.  Future rental revenues from operating leases
amount to $97,567 and are to be received  over the next two years (see note 6 to
the financial statements).

For the year ended December 31, 1996,  the  Partnership's  investing  activities
resulted in equipment sales with a depreciated cost basis of $5,081,  generating
$17,298 in sales proceeds.  The Partnership has no material capital  expenditure
commitments,  and will not purchase  equipment in the future as the  Partnership
has reached the end of its reinvestment period.

Cash  distributions paid in the first quarter of 1997 are currently at an annual
level of 2% per Limited  Partnership  Unit,  or $10.00 per  Limited  Partnership
Unit. During 1996, the Partnership distributed or declared a total of $11.25 per
Limited  Partnership  Unit, of which $8.36 per Unit represents  income and $2.89
per Unit  represents  a return of capital.  For the quarter  ended  December 31,
1996, the Partnership  declared a cash distribution of $64,167,  of which $3,209
was  allocated to the General  Partner and $60,958 was  allocated to the Limited
Partners. The distribution made on February 15, 1997. The Partnership expects to
continue  paying at or near this level.  The effects of inflation  have not been
significant to the Partnership and are not expected to have a material impact in
future periods.



<PAGE>


Item 8.       FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA





                          Independent Auditors' Report




To the Partners of Columbia Lease Income Fund A L.P.:

We have audited the accompanying  balance sheets of Columbia Lease Income Fund A
L.P. (a Delaware Limited  Partnership) as of December 31, 1996 and 1995, and the
related statements of operations,  partners' equity (deficit) and cash flows for
each  of the  years  in the  three-year  period  ended  December  31,  1996.  In
connection with our audits of the financial statements, we have also audited the
accompanying  financial  statement  schedule  II for  each of the  years  in the
three-year  period ended December 31, 1996. These financial  statements and this
financial  statement  schedule  are  the  responsibility  of  the  Partnership's
management.  Our  responsibility  is to express  an  opinion on these  financial
statements and this financial statement schedule based on our audits.

We  conducted  our  audits  in  accordance  with  generally   accepted  auditing
standards.  Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement.  An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements.  An audit also includes
assessing the  accounting  principles  used and  significant  estimates  made by
management,  as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.

In our opinion,  the financial  statements  referred to above present fairly, in
all material  respects,  the financial  position of Columbia Lease Income Fund A
L.P. as of December 31, 1996 and 1995, and the results of its operations and its
cash flows for each of the years in the  three-year  period  ended  December 31,
1996, in conformity with generally accepted accounting principles.  Also, in our
opinion,  the related financial statement schedule,  when considered in relation
to the basic financial  statements  taken as a whole,  presents  fairly,  in all
material respects, the information set forth therein.






KPMG Peat Marwick LLP



Boston, Massachusetts
March 21, 1997


<PAGE>


                        COLUMBIA LEASE INCOME FUND A L.P.
                        (A Delaware Limited Partnership)

                                 Balance Sheets
                           December 31, 1996 and 1995

<TABLE>
<CAPTION>
                                     Assets
                                                                                       1996                   1995
                                                                                 ----------------       ----------------
<S>                                                                              <C>                    <C>             
Investment property, at cost (notes 3 & 6):
   Computer equipment                                                            $      1,444,033       $      1,814,444
     Less accumulated depreciation                                                      1,367,883              1,658,660
                                                                                 ----------------       ----------------
       Investment property, net                                                            76,150                155,784

Cash and cash equivalents                                                                  60,959                 71,333
Rents receivable, net (note 2)                                                             27,132                 25,414
Accounts receivable - affiliates, net (notes 2 & 4)                                         8,956                  2,758
                                                                                 ----------------       ----------------

     Total assets                                                                $        173,197       $        255,289
                                                                                 ================       ================

                        Liabilities and Partners' Equity
Liabilities:
   Accounts payable and accrued
     expenses - affiliates (note 4)                                              $         30,261       $         31,741
   Accounts payable and accrued expenses                                                   14,136                 20,693
   Distributions payable (note 7)                                                          64,167                 64,166
                                                                                 ----------------       ----------------

     Total liabilities                                                                    108,564                116,600
                                                                                 ----------------       ----------------

Partners' equity:
   General Partner:
     Capital contribution                                                                   1,000                  1,000
     Cumulative net income                                                                240,317                229,583
     Cumulative cash distributions                                                       (645,331)              (630,895)
     Reallocation of capital accounts (note 9)                                            404,014                400,312
                                                                                 ----------------       ----------------
                                                                                                -                      -
                                                                                 ----------------       ----------------
   Limited Partners (24,383 units):
     Capital contribution, net of
       offering costs                                                                  10,484,690             10,484,690
     Cumulative net income                                                              4,566,029              4,362,073
     Cumulative cash distributions                                                    (14,582,072)           (14,307,762)
     Reallocation of capital accounts (note 9)                                           (404,014)              (400,312)
                                                                                 ----------------       ----------------
                                                                                           64,633                138,689
                                                                                 ----------------       ----------------
     Total partners' equity                                                                64,633                138,689
                                                                                 ----------------       ----------------

     Total liabilities and partners' equity                                      $        173,197       $        255,289
                                                                                 ================       ================
</TABLE>

                 See accompanying notes to financial statements.


<PAGE>


                        COLUMBIA LEASE INCOME FUND A L.P.
                        (A Delaware Limited Partnership)

                            Statements of Operations
              For the Years Ended December 31, 1996, 1995 and 1994

<TABLE>
<CAPTION>
                                                                 1996                     1995                   1994
                                                            ---------------         ---------------        ---------------
<S>                                                         <C>                     <C>                    <C>            
Revenue:
   Rental income on operating leases                        $       324,458         $       517,822        $       716,667
   Earned income on direct financing
     leases (note 5)                                                      -                   7,018                 15,138
   Interest income                                                    7,096                   7,023                  9,104
   Net gain (loss) on sale of equipment                              12,217                 (87,974)                14,651
                                                            ---------------         ---------------        ---------------

       Total revenue                                                343,771                 443,889                755,560
                                                            ---------------         ---------------        ---------------

Costs and expenses:
   Depreciation                                                      79,164                 294,578                438,986
   Interest                                                               -                   1,215                  5,678
   Related party expenses (note 4):
     Management fees                                                 24,320                  36,591                 54,575
     General and administrative                                      82,739                  84,654                 72,949
   (Reversal of) provision for doubtful accounts                    (57,142)                  1,029                  7,229
                                                            ---------------         ---------------        ---------------

       Total costs and expenses                                     129,081                 418,067                579,417
                                                            ---------------         ---------------        ---------------

Net income                                                  $       214,690         $        25,822        $       176,143
                                                            ===============         ===============        ===============

Net income per Limited
   Partnership Unit
                                                            $          8.36         $          1.00        $          6.86
                                                            ===============         ===============        ===============
</TABLE>

                 See accompanying notes to financial statements.



<PAGE>


                        COLUMBIA LEASE INCOME FUND A L.P.
                        (A Delaware Limited Partnership)

                         Statements of Partners' Equity
              For the Years Ended December 31, 1996, 1995 and 1994

<TABLE>
<CAPTION>


                                                     General Partner             Limited Partners                    Total
                                                         Amount              Units               Amount              Amount
                                                     -------------           ------       ----------------      ----------------
<S>                                                  <C>                     <C>          <C>                   <C>             
Equity at
   December 31, 1993                                 $           -           24,383       $      1,107,877      $      1,107,877

Distributions (note 7)                                     (36,101)               -               (685,894)             (721,995)

Net income (note 8)                                          8,807                -                167,336               176,143

Reallocation of capital accounts (note 9)                   27,294                -                (27,294)                    -
                                                     -------------           ------       ----------------      ----------------

Equity at
   December 31, 1994                                             -           24,383                562,025               562,025

Distributions (note 7)                                     (22,454)               -               (426,704)             (449,158)

Net income (note 8)                                          1,291                -                 24,531                25,822

Reallocation of capital accounts (note 9)                   21,163                -                (21,163)                    -
                                                     -------------           ------       ----------------      ----------------

Equity at
   December 31, 1995                                             -           24,383                138,689               138,689

Distributions (note 7)                                     (14,436)               -               (274,310)             (288,746)

Net income (note 8)                                         10,734                -                203,956               214,690

Reallocation of capital accounts (note 9)                    3,702                -                 (3,702)                    -
                                                     -------------           ------       ----------------      ----------------

Equity at
   December 31, 1996                                 $           -           24,383       $         64,633      $         64,633
                                                     =============           ======       ================      ================
</TABLE>

                 See accompanying notes to financial statements.


<PAGE>


                        COLUMBIA LEASE INCOME FUND A L.P.
                        (A Delaware Limited Partnership)

                            Statements of Cash Flows
              For the Years Ended December 31, 1996, 1995 and 1994

<TABLE>
<CAPTION>
                                                                             1996                1995               1994
                                                                             ----                ----               ----

<S>                                                                     <C>                 <C>               <C>          
Cash flows from operating activities:
   Net income                                                           $     214,690       $      25,822     $     176,143
                                                                        -------------       -------------     -------------

Adjustments  to  reconcile   net  income  to  net  cash
   provided  by  operating activities:
     Depreciation                                                              79,164             294,578           438,986
     Net (gain) loss on sale of equipment                                     (12,217)             87,974           (14,651)
     (Reversal of) provision for doubtful accounts                            (57,142)              1,029             7,229
     Net decrease in current assets                                            49,226              55,004            60,265
     Net decrease in current liabilities                                       (8,037)            (44,519)          (44,065)
                                                                        -------------       -------------     -------------

       Total adjustments                                                       50,994             394,066           447,764
                                                                        -------------       -------------     -------------

       Net cash provided by operating activities                              265,684             419,888           623,907
                                                                        -------------       -------------     -------------

Cash flows from investing activities:
   Purchase of investment property                                             (4,611)                  -          (254,753)
   Proceeds from sales of investment property                                  17,298              14,881            69,765
                                                                        -------------       -------------     -------------

       Net cash provided by (used in) investing activities                     12,687              14,881          (184,988)
                                                                        -------------       -------------     -------------

Cash flows from financing activities:
   Principal payments on long-term debt                                             -             (37,801)          (52,846)
   Cash distributions to partners                                            (288,745)           (553,428)         (874,388)
                                                                        -------------       -------------     -------------

       Net cash used in financing activities                                 (288,745)           (591,229)         (927,234)
                                                                        -------------       -------------     -------------

Net decrease in cash and cash equivalents                                     (10,374)           (156,460)         (488,315)

Cash and cash equivalents at beginning of year                                 71,333             227,793           716,108
                                                                        -------------       -------------     -------------

Cash and cash equivalents at end of year                                $      60,959       $      71,333     $     227,793
                                                                        =============       =============     =============

Supplemental cash flow information:
   Interest paid during the year                                        $           -       $       1,215     $       5,678
                                                                        =============       =============     =============

Non-cash investing activities:
   Reclassification of expired direct financing
     lease to operating lease                                           $           -       $       4,198     $       3,231
                                                                        =============       =============     =============
</TABLE>

                 See accompanying notes to financial statements.


<PAGE>


                        COLUMBIA LEASE INCOME FUND A L.P.
                        (A Delaware Limited Partnership)

                          Notes to Financial Statements
                        December 31, 1996, 1995 and 1994

(1)   Organization

Columbia  Lease  Income Fund A L.P.  (the  "Partnership")  was formed  under the
Delaware Revised Uniform Limited Partnership Act on August 13, 1984. The purpose
of the  Partnership  is to  acquire  certain  types  and  kinds  of new and used
equipment  which are leased to third parties.  The  Partnership has the right to
borrow up to 80% of the aggregate purchase price of all equipment acquired,  but
anticipates  borrowing no more than 50%. The Partnership  agreement provides for
the  Partnership  to continue  until  December  31,  2010,  although the General
Partner  may cause the  Partnership  to dispose of all of the  equipment  and to
liquidate at any time after the Partnership's tenth year of operations.

At  December  31,  1996,   TLP-Columbia   Management   Corporation  ("TCMC"),  a
wholly-owned  subsidiary  of TLP Leasing  Programs,  Inc.  ("TLP"),  is the sole
General Partner of the Partnership. TCMC was admitted as a co-General Partner of
the Partnership on June 30, 1993 and has exercised  control over the Partnership
since that date.  Pursuant  to TCMC's  admission,  Meridian-Columbia  Management
Corporation  ("Meridian-CMC")  voluntarily withdrew as co-General Partner of the
Partnership,  effective November 30, 1993.  TM-Columbia  Management  Corporation
("TMC"),  a  wholly-owned  subsidiary of Thomson  McKinnon Inc.  ("TMI"),  was a
General Partner from August 13, 1984 until October 14, 1990 when TMC voluntarily
withdrew from the Partnership. Meridian-CMC was admitted as a General Partner of
the Partnership on November 2, 1989.

The General Partner has contributed $1,000 to the Partnership.  The subscription
period for the  Partnership  commenced  on October  26, 1984 and  terminated  on
February 4, 1985. Admissions of Limited Partners occurred as follows:

<TABLE>
<CAPTION>
                                                       Units of Limited
                                                     Partnership Interest                        Total Capital
         Date of Admission                                  ("Units")                            Contribution

         <S>                                                <C>                                  <C>
         December 21, 1984                                      8,244                            $     4,122,000
         January 18, 1985                                      10,593                                  5,296,500
         February 20, 1985                                      5,546                                  2,773,000
                                                            ---------                            ---------------
                Total                                          24,383                            $    12,191,500
                                                            =========                            ===============
</TABLE>

(2)   Significant Accounting Policies

General

The  Partnership's  records are  maintained  on a accrual basis of accounting so
that revenues are  recognized as earned and expenses are recognized as incurred.
Assets and  liabilities  are those of the  Partnership  and do not  include  any
assets and liabilities of the individual partners.  The preparation of financial
statements in conformity with generally accepted accounting  principles requires
management to make estimates and assumptions that affect the reported amounts of
assets and  liabilities  and disclosure of contingent  assets and liabilities at
the date of the financial  statements  and the reported  amounts of revenues and
expenses  during the reporting  period.  Actual  results could differ from those
estimates.


<PAGE>


                        COLUMBIA LEASE INCOME FUND A L.P.
                        (A Delaware Limited Partnership)

                          Notes to Financial Statements

Cash and Cash Equivalents

The  Partnership  considers  cash  and  short-term   investments  with  original
maturities of three months or less to be cash and cash equivalents.

Allowance for Doubtful Accounts

The financial  statements  include allowances for estimated losses on receivable
balances.  The  allowances  for  doubtful  accounts  are based on past write off
experience  and an evaluation  of potential  uncollectible  accounts  within the
current  receivable  balances.  Receivable  balances  which are determined to be
uncollectible  are charged against the allowance and subsequent  recoveries,  if
any, are credited to the allowance. At December 31, 1996 and 1995, the allowance
for  doubtful  accounts  included  in rents  receivable  was $5,284 and  $2,426,
respectively,   and  $0  and  $60,000  in  accounts   receivable  -  affiliates,
respectively.

Income Taxes

No provision  for federal  income taxes has been made as the  liability for such
taxes is that of the  Partners  rather  than  that of the  Partnership.  Taxable
income  (loss),  as reported  on Schedule  K-1,  Form 1065  "Partner's  Share of
Income, Credits,  Deductions,  etc.", was $158,914,  $(80,035),  and $211,399 in
1996, 1995 and 1994, respectively (see note 10).

Equipment on Operating Leases

The  Partnership  has determined  that all of its equipment  leases are properly
classified as operating  leases.  Under the operating  method of accounting  for
leases,  the  leased  equipment  is  recorded  as an  asset  at  cost  including
acquisition  fees and other  expenses  related  to the  purchase  of  equipment.
Equipment  placed  in  service  prior to  January  1, 1990 is  depreciated  on a
straight-line  basis over five years to its estimated  salvage value.  Equipment
placed in service after January 1, 1990 and prior to July 1, 1993 is depreciated
on a  straight-line  basis over the term of the lease to its estimated  residual
value at the end of the lease.  Equipment  placed in service on or after July 1,
1993 is depreciated  using an  accelerated  method over an economic life of five
years.  The effect of this change in depreciation  method is not material to the
1993 financial  statements.  The Partnership's  policy is to periodically review
the estimated fair market value of its equipment to assess the recoverability of
its undepreciated  cost. In accordance with this policy, the Partnership records
a charge  to  depreciation  expense  in  instances  when  the net book  value of
equipment exceeds its net realizable  value.  Rental income is determined on the
basis of rental payments due under the terms of the lease.



<PAGE>


                        COLUMBIA LEASE INCOME FUND A L.P.
                        (A Delaware Limited Partnership)

                          Notes to Financial Statements

(3)   Investment Property

At  December  31,  1996,  the  Partnership  owned  computer   equipment  with  a
depreciated cost basis of $76,150,  subject to existing leases. All purchases of
computer  equipment  are subject to a 2.5%  acquisition  fee paid to the General
Partner.

(4)   Conflicts of Interest and Related Party Transactions

Compensation to General Partner

The General  Partner  has  ultimate  responsibility  for the  management  of the
Partnership's  business.  Such  management  includes  the  acquisition,   lease,
re-lease and sale of Partnership  equipment,  the  responsibility to arrange for
non-recourse  debt financing for Partnership  equipment,  and the performance of
general administration and accounting activities.

The General Partner is entitled to receive (1)  acquisition  fees of 2.5% of the
purchase price paid by the Partnership for each item of equipment acquired;  (2)
equipment  management  fees of up to 6% of gross rental  payments  received with
respect to the Partnership's equipment,  except for equipment subject to certain
leases  referred to in the Partnership  agreement as "Full Payout  Leases",  for
which the  equipment  management  fee shall  not  exceed 2% of the gross  rental
payments;  and (3)  subordinated  resale  fees not to exceed 3% of the  proceeds
derived  from the sale of  Partnership  equipment.  The General  Partner and its
affiliates  may  also  receive  reimbursement  for the  administrative  services
necessary  for the  prudent  operation  of the  Partnership,  subject to certain
limitations.

Fees,  commissions  and other expenses paid or accrued by the Partnership to the
General  Partner  or  affiliates  of the  General  Partner  for the years  ended
December 31, 1996, 1995 and 1994 are as follows:

<TABLE>
<CAPTION>
                                                     1996               1995              1994
                                                     ----               ----              ----

<S>                                               <C>              <C>                <C>          
Equipment acquisition fees                        $        112     $            -     $       6,214
Management fees                                         24,320             36,591            54,575
Reimbursable expenses paid                              83,896             82,456            72,977
                                                  ------------     --------------     -------------

                                                  $    108,328     $      119,047     $     133,766
                                                  ============     ==============     =============
</TABLE>

The management  agreement  signed in 1993 between  Meridian-CMC and TCMC and the
Agreement  Relating to the Admission of TCMC as an Additional General Partner of
Certain Limited  Partnerships dated June 30, 1993 resulted in definitive sharing
arrangements   between  Meridian-CMC  and  TCMC  related  to  acquisition  fees,
equipment management fees, resale fees and General Partner distributions.  These
sharing  agreements remain unaffected by Meridian-CMC's  withdrawal as a General
Partner of the Partnership.



<PAGE>


                        COLUMBIA LEASE INCOME FUND A L.P.
                        (A Delaware Limited Partnership)

                          Notes to Financial Statements

Under the terms of the Partnership Agreement, the General Partner is entitled to
an  equipment  acquisition  fee  of  2.5%  of the  purchase  price  paid  by the
Partnership  for the  equipment.  The  General  Partner  is also  entitled  to a
management fee equal to 6% of the monthly rental  billings,  paid quarterly.  In
addition,  the Partnership reimburses the General Partner and its affiliates for
certain  expenses  incurred  by them in  connection  with the  operation  of the
Partnership.

Compensation to Suppliers

The General Partner has contracted with several  independent  leasing  companies
(collectively,  the  "Suppliers")  which  perform  most  of  the  marketing  and
financing activities. Agreements with Suppliers provide for compensation to each
Supplier in amounts which are deducted from the above corresponding compensation
payable by the Partnership to the General Partner.

Conflicts of Interest

The General Partner, the Suppliers and their affiliates are engaged directly and
indirectly  in the  business  of  acquiring,  leasing,  re-leasing  and  selling
equipment and have formed or sponsored or are acting as the general  partner of,
and in the future may form or sponsor or act as the general  partner  of,  other
investment entities which may have the same or similar investment objectives.

(5)   Net Investment in Direct Financing Leases

There are no future  minimum lease payments  outstanding as of December 31, 1996
as all of the remaining  direct  financing  leases expired during 1995.

(6)   Equipment on Operating Leases

Equipment on  operating  leases is  comprised  primarily of computer  peripheral
devices,  small  data  processing  systems/attachments  and  computer  terminals
purchased from Suppliers.

Future  minimum  lease  payments to be  received  as of December  31, 1996 under
existing noncancelable operating leases are as follows:

                        1997                      $       97,492
                        1998                                  75
                                                  --------------

                                                  $       97,567
                                                  ==============

Three lessees,  Eaton  Corporation,  Northern Indiana Public Service Company and
Sports & Recreation,  Incorporated,  lease equipment in which the related rental
payments exceed 10% of total rental income. The related rental payments comprise
29.01%, 18.92% and 35.92%, respectively, of the total rental income for the year
ended  December 31, 1996.  Eaton  Corporation,  Northern  Indiana Public Service
Company and Sports & Recreation, Incorporated lease equipment comprising 52.06%,
12.77% and 23.00%,  respectively,  of the total equipment  portfolio at December
31, 1996.


<PAGE>


                        COLUMBIA LEASE INCOME FUND A L.P.
                        (A Delaware Limited Partnership)

                          Notes to Financial Statements


(7)   Distributions to Partners

For  the  years  ended  December  31,  1996,  1995  and  1994,   declaration  of
Distributable Cash were as follows:

<TABLE>
<CAPTION>
                                                                        Limited Partners
                                                           Distribution                                             General
                                  Year Ended               Per $500 Unit                  Total                     Partner
                           -----------------------         -------------              -------------                ---------

                           <S>                              <C>                       <C>                          <C>
                           December 31, 1996                $    11.25                $     274,310                $    14,436
                           December 31, 1995                $    17.50                $     426,704                $    22,454
                           December 31, 1994                $    28.13                $     685,894                $    36,101
</TABLE>

Each distribution of Distributable Cash From Operations of the Partnership shall
be  allocated  95% to the Limited  Partners and 5% to the General  Partner.  Any
Distributable  Cash From Sales or  Refinancings  from gains and losses  shall be
allocated  99% to the  Limited  Partners  and 1% to the  General  Partner  until
"Payout" has occurred.  "Payout" means the time when the aggregate amount of all
distributions to the Limited Partners of Distributable  Cash From Operations and
of Distributable Cash From Sales or Refinancings  equals the aggregate amount of
the Limited  Partners'  original  invested  capital plus a cumulative  8% annual
return  (compounded daily) on their aggregate  unreturned capital  contributions
invested capital (calculated from the beginning of the first full fiscal quarter
following the Partnership's closing date).  Thereafter,  85% will be distributed
to the  Limited  Partners  and 15% to the  General  Partner,  subject to certain
adjustments.  Including  the  distribution  for the fourth  quarter of 1996 made
February 15, 1997,  the cumulative  distributions  to date are $597.74 per Unit.
This cumulative  distribution per Unit amount represents 59.47% of Payout. It is
not  anticipated   that  Payout  will  occur  as  of  the  liquidation  of  this
Partnership.  Distributions  to  partners  in excess of net income  represent  a
return of capital. See note 9 regarding General Partner distributions which have
been returned to the Partnership during the current and prior years.

(8)   Net Income or Loss per Unit

Net income for financial reporting purposes is allocated to partners in the same
proportions as  Distributable  Cash From  Operations is distributed to partners.
Net loss for financial  reporting  purposes is allocated to partners in the same
proportions as  Distributable  Cash From Sales or Refinancings to partners.  Net
income or loss per Unit is calculated  based on the Limited  Partners'  share of
net income or loss and the number of Units outstanding.



<PAGE>


                        COLUMBIA LEASE INCOME FUND A L.P.
                        (A Delaware Limited Partnership)

                          Notes to Financial Statements

(9)   Reallocation of Capital Accounts

Under the terms of the  Partnership  agreement,  the amount of  deficit  capital
account that any General Partner can be required to fund upon termination of the
Partnership is limited to a percentage of the capital contributed by the Limited
Partners (the "Maximum Deficit"). Consequently, the General Partner's equity has
been adjusted to reflect this limitation, with a corresponding adjustment to the
Limited   Partners'  equity.   TMC  and  Meridian-CMC   agreed  that  once  they
collectively  received  $500,000  of  General  Partner  distributions  from  the
Partnership and the Other CLIF Partnerships subsequent to October 24, 1989, they
would return their  distributions  to the Partnership  until the Maximum Deficit
had been eliminated.  TMC and Meridian-CMC  received a total of $500,000 via the
May 15, 1991 distribution.

To the extent that the General  Partner's  distributions  less its allocation of
net  income  or loss has  exceeded  or does in the  future  exceed  the  Maximum
Deficit,  a memo account will be created for this excess. If, in the future, net
income allocated to the General Partner exceeds distributions,  this excess will
be credited to the Limited  Partners  until the memo account has been reduced to
zero.



<PAGE>


                        COLUMBIA LEASE INCOME FUND A L.P.
                        (A Delaware Limited Partnership)

                          Notes to Financial Statements

(10)  Reconciliation of Financial Statement Net Income to Taxable Income (Loss)
      to Partners

A reconciliation  of financial  statement net income to taxable income (loss) to
partners is as follows for the years ended December 31, 1996, 1995 and 1994:

<TABLE>
<CAPTION>
                                                                                  1996               1995                1994
                                                                                  ----               ----                ----

      <S>                                                                     <C>                 <C>                <C>          
      Net income per financial statements                                     $      214,690      $      25,822      $     176,143

      Rental income for financial statement purposes less than
           (in excess of) rental income for tax purposes                               6,048            (20,698)              (626)

      Income on direct financing leases for financial statement
           purposes less than income for tax purposes                                      -             53,882             44,527

      Provision for doubtful accounts expense for financial
           statement purposes less than provision for doubtful
           accounts expense for tax purposes                                         (57,142)          (158,971)           (27,953)

      Depreciation expense for financial statement purposes
           (less than) in excess of depreciation expense for
           tax purposes                                                               (5,708)            51,838             28,126

      Net  gain on sale of equipment for financial  statement
           purposes less than (in excess of) net gain on sale
           of equipment for tax purposes                                               1,026            (31,908)            (8,818)
                                                                              --------------      -------------      -------------

      Taxable income (loss) to partners                                       $      158,914      $     (80,035)     $     211,399
                                                                              ==============      =============      =============
</TABLE>

Losses for federal tax purposes are allocated 99% to Limited  Partners and 1% to
the General Partner.  Profits for federal tax purposes are allocated in the same
manner as losses if the Partnership has cumulative taxable losses from inception
and are allocated 95% to the Limited  Partners and 5% to the General  Partner if
the Partnership has cumulative taxable profits.



<PAGE>


                        COLUMBIA LEASE INCOME FUND A L.P.
                        (A Delaware Limited Partnership)




Schedule II - Valuation and Qualifying Accounts and Reserves

<TABLE>
<CAPTION>

                                       Balance at             Additions                                          Balance
                                       beginning              charged to                                         at end
Classification                          of year           costs and expenses            Charge-offs              of year



<S>                                <C>                     <C>                      <C>                     <C>              
Year ended
December 31, 1994                  $        249,350        $          7,229         $         35,182        $         221,397
                                   ================        ================         ================        =================

Year ended
December 31, 1995                  $        221,397        $          1,029         $        160,000        $          62,426
                                   ================        ================         ================        =================

Year ended
December 31, 1996                  $         62,426        $          2,858         $         60,000        $           5,284
                                   ================        ================         ================        =================
</TABLE>





<PAGE>



Item 9.  Changes  in  and  Disagreements  with  Accountants  on  Accounting  and
         Financial Statement Disclosures.

None.



<PAGE>


                                    Part III

Item 10.  Directors and Executive Officers of the Partnership.

(a-b) Identification of Directors and Executive Officers

The  Partnership  has no Directors or Officers.  As indicated in Item 1. of this
report,  the General Partner of the  Partnership is TCMC.  Under the Partnership
Agreement,  the General  Partner is solely  responsible for the operation of the
Partnership's properties,  and the Limited Partners have no right to participate
in the  control  of such  operations.  The names and ages of the  Directors  and
Executive Officers of the General Partner are as follows:

<TABLE>
<CAPTION>

TLP Columbia Management Corporation

          Name                                                Title                                                    Age

<S>                                                <C>                                                                 <C>
Nicholas C. Bogard                                 Director                                                            51
Arthur P. Beecher                                  Director and President                                              59
Nancy E. Malone                                    Vice President, Lease Financing                                     38
Irene V. King                                      Vice President, Satellite Operations                                50
Joseph P. Colonna                                  Vice President, Marketing                                           37
James S. Felman                                    Clerk                                                               32

</TABLE>


(c) Identification of certain significant persons

See Item 10. (a-b)

(d) Family relationship

No  family  relationship  exists  between  any of  the  foregoing  Directors  or
Officers.

(e) Business experience

Nicholas C. Bogard is Director of TCMC and TLP.  Mr. Bogard  served as President
and Director of TLP from 1982 - 1992,  and served as Director of CS First Boston
from 1992 - 1994. He has been working as an  independent  consultant since 1994.
Mr. Bogard  holds  a  B.A. from Princeton University and an  M.B.A. from Harvard
University.

Arthur P.  Beecher  is  President  of TCMC and  President  and  Director of TLP.
Prior to  joining  TLP,  he  was  an  officer of CSA Financial  Corp. of Boston,
Massachusetts,  most  recently as  Vice  President,  Finance and  Administration
since 1975.  Mr. Beecher holds a  B.S. from Boston University and is a Certified
Public Accountant.

Nancy E. Malone is Vice President,  Lease  Financing of TCMC and  TLP.  Prior to
joining TLP, she was Manager, Lease Financing for  11  years  at  CSA  Financial
Corp. of Boston, Massachusetts.  Ms. Malone holds a B.A. from The College of the
Holy Cross.

Irene V. King is Vice President, Satellite  Operations  for TCMC and TLP.  Prior
to  joining TLP in  April 1994,  she was Director of  Public Income Funds at CSA
Financial Corp. of Boston,  Massachusetts  and was previously  Vice President of
Finance at  First Alliance Corp. of Wellesley, Massachusetts.   Ms. King holds a
B.A. from Barat College of the Sacred Heart, Lake Forest, Illinois.

James S. Felman is Clerk of TCMC and TLP.  Prior to joining  TLP, he was in
private  practice  and  was  previously  employed as a Tax Consultant with Price
Waterhouse in  Miami,  Florida  and New York, New York. Mr. Felman  received his
J.D.  from  S.U.N.Y.  at  Buffalo  Law School,  holds  a  B.S. in Economics  and
Business Management from Cornell  University,  and is a licensed attorney in New
York and Florida.

Joseph P. Colonna  is  Vice  President,  Marketing  of  TCMC  and TLP.  Prior to
joining  TLP,  he  was  Associate  Counsel at  CSA  Financial  Corp. of  Boston,
Massachusetts  in  charge of Domestic and  International  Leasing  Transactions.
He received his  B.A. from Rutgers University,  J.D. from Suffolk University Law
School and M.S.L. from Vermont Law School.

(f) Involvement in certain legal proceedings

The  Partnership is not aware of any legal  proceedings  against any Director or
Executive  Officer  of the  General  Partner  which  may be  important  for  the
evaluation of any such person's ability and integrity.


<PAGE>


Item 11.  Management Remuneration and Transactions.

(a), (b),  (c), (d), and (e): The Officers and Directors of the General  Partner
receive no current or proposed direct remuneration in such capacities,  pursuant
to any standard  arrangements or otherwise,  from the Partnership.  In addition,
the Partnership  has not paid and does not propose to pay any options,  warrants
or rights to the Officers and Directors of the General Partner.  There exists no
remuneration  plan or  arrangement  with any  Officer or Director of the General
Partner resulting from the resignation, retirement or any other termination. See
note 4 to the  financial  statements  included  in Item 8. of this  report for a
description of the  remuneration  paid by the Partnership to the General Partner
and its affiliates during 1996, 1995 and 1994.



<PAGE>


Item 12.  Security Ownership of Certain Owners and Management.

By virtue of its organization as a Limited  Partnership,  the Partnership has no
outstanding  securities  possessing  traditional  voting  rights.   However,  as
provided  for in Section 13.2 of the Amended  Agreement  of Limited  Partnership
(subject to Section  13.3),  a majority  interest of the Limited  Partners  have
voting rights with respect to:

1.  Amendment of the Limited Partnership Agreement;

2.  Termination of the Partnership;

3.  Removal of the General Partner; and

4.  Approval or disapproval of the sale of substantially all the  assets
     of the Partnership.

No person  or group is known by the  General  Partner  to own  beneficially more
than 5% of the  Partnership's  24,383  outstanding Limited Partnership  Units as
of December 31, 1996.

By virtue of its  organization  as a Limited  Partnership,  the  Partnership has
no Officers or  Directors.  See also note 1 to the financial statements included
in Item 8. and Item 10. of this report.


<PAGE>


Item 13.  Certain Relationships and Related Transactions.

See Items 1., 8. note (4).  above for  information concerning  transactions with
TCMC and Meridian-CMC and their affiliates.




<PAGE>

<TABLE>
<CAPTION>

                                     Part IV

<S>       <C>                                                                                                       <C>
Item 14. Exhibits, Financial Statement Schedules and Reports on Form 8-K.

  (a) 1.  Financial Statements                                                                                      Page No.

          Independent Auditors' Report - KPMG Peat Marwick LLP                                                      16
          Balance Sheets at December 31, 1996 and 1995                                                              17
          Statements of Operations for the Years Ended
             December 31, 1996, 1995 and 1994                                                                       18
          Statements of Partners' Equity (Deficit) for
             the Years Ended December 31, 1996, 1995 and 1994                                                       19
          Statements of Cash Flows for the Years
             Ended December 31, 1996, 1995 and 1994                                                                 20
          Notes to Financial Statements                                                                             21-27

       2. Financial Statement Schedules

             Schedule II - Valuation and Qualifying Accounts and Reserves                                           28

          All other financial  statement  schedules are omitted because they are
          not  applicable,  the  data  is  not  significant,   or  the  required
          information is shown elsewhere in this report.
</TABLE>

<TABLE>
<CAPTION>

<S>       <C>                                                                                                       <C>

3.A.      Exhibit Index
          N/A

          Exhibit                              Description                                                          Page

          4.1              Copy of First Restated Agreement of Limited                                              -
                           Partnership dated December 21, 1984. (1)

          4.2              Copy of the Third Restated Certificate of Limited                                        -
                           Partnership filed with the Delaware Secretary
                           of State of February 20, 1985. (2)

          4.3              Copy of First Amendment to Third Restated                                                -
                           Certificate of Limited Partnership filed with
                           the Delaware Secretary of State of April 18, 1985. (3)

          4.4              Amendment to First Restated Agreement of Limited                                         -
                           Partnership. (9)

          10.1             Copy of Supplier Agreement dated July 19, 1984                                           -
                           between TMSI and Meridian Leasing Corporation
                           amendment thereto dated September 5, 1985, and
                           assignment thereof from TMSI to the General Partner
                           dated December 4, 1985. (3)

          10.2             Copy of Supplier Agreement dated August 8, 1984                                          -
                           between TMSI and Capital Rental Corporation
                           (guaranteed by Capital Associates International, Inc.),
                           amendment thereto dated November 1, 1985 and assignment
                           thereof from TMSI to the General Partner dated
                           December 4, 1985. (3)(4)

          10.3             Copy of Supplier Agreement dated March 26, 1985                                          -
                           between the General Partner and Technology
                           Finance Group, Inc. and amendment thereto dated
                           September 10, 1985. (3)

          10.4             Copy of Supplier Agreement dated September 30, 1985                                      -
                           between the General Partner and Comdisco, Inc. (3)

          10.5             Copy of Supplier Agreement dated December 1, 1985                                        -
                           between the General Partner and Meridian Sales and
                           Leasing Inc. (formerly Thomson McKinnon Sales and
                           Leasing Inc.). (3)

          10.6             Management Agreement dated June 22, 1988 between the                                     -
                           General Partner and Meridian-Columbia Management
                           Corporation. (5)

          10.7             Agreement Relating to the Admission of Meridian-Columbia                                 -
                           Management Corporation as an Additional General Partner
                           of Certain Limited Partnerships. (6)

          Footnotes:

          (1)              Exhibit 4.1 is incorporated  by reference to Exhibit A
                           to the Prospectus  contained in Amendment No. 1 to
                           registrant's Registration Statement on Form S-1
                           (File No. 2-92914) filed October 25, 1984.

          (2)              Exhibit 4.2 is incorporated  by reference to Exhibit 4.2
                           to  registrant's  Annual Report on Form 10-K for
                           the year ended December 31, 1984.

          (3)              Exhibits 4.3, 10.1,  10.2, 10.3, 10.4 and 10.5 are incorporated
                           by reference to Exhibits 4.3, 10.1, 10.2, 10.3,  10.4 and 10.5,
                           respectively,  to  registrant's  Annual  Report  on Form  10-K
                           for the year  ended  December 31, 1985.

          (4)              This Supplier Agreement has been terminated during 1988.

          (5)              Exhibit 10.6 is incorporated by reference to Exhibit 10.6
                           to registrant's  Quarterly  Report on Form 10-Q
                           for the quarter ended June 30, 1988.

          (6)              Exhibits  4.4 and 10.7  are  incorporated  by  reference
                           to  Exhibits  4.1 and  10.1,  respectively,  to
                           registrant's Quarterly Report on Form 10-Q for the quarter
                           ended September 30, 1989.

      B.  Reports on Form 8-K

          1                Form 8-K Filing and Agreement Relating to the Admission of                               -
                           TLP-Columbia Management Corporation as an Additional
                           General Partner of Certain Limited Partnerships dated
                           June 30, 1993.

          2                Form 8-K filing dated November 9, 1993 relating to the                                   -
                           Change in Registrant's Certifying Accountant

          3                Agreement and 8-K filing dated November 30, 1993 relating                                -
                           to the withdrawal of Meridian-Columbia Management
                           Corporation as a co-General Partner

</TABLE>



<PAGE>


                                   SIGNATURES



Pursuant to the  requirements of Section 13 or 15(d) 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.

COLUMBIA LEASE INCOME FUND A L.P.
(Registrant)

By:    TLP COLUMBIA MANAGEMENT CORPORATION,
       its General Partner


Date:  March 27, 1997

By:    Arthur P. Beecher,
       President