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

                                    FORM  10-Q

[X]     QUARTERLY  REPORT  PURSUANT  TO  SECTION  13  OR  15(D)
        OF  THE  SECURITIES  EXCHANGE  ACT  OF  1934

              FOR  THE  QUARTERLY  PERIOD  ENDED  MARCH  31,  2001

[ ]     TRANSITION  REPORT  PURSUANT  TO  SECTION  13  OR  15(D)
        OF THE SECURITIES EXCHANGE ACT OF 1934

               FOR THE TRANSITION PERIOD FROM       TO
                                              -----    -----

                    COMMISSION  FILE  NUMBER:  000-26354

                          TRIMAINE  HOLDINGS,  INC.
     (Exact  name  of  Registrant  as  specified  in  its  charter)

            WASHINGTON                               91-1636980
       (State  or  other  jurisdiction  of        (I.R.S. Employer
       incorporation  or organization)            Identification No.)

                              17  DAME  STREET
                              DUBLIN 2, IRELAND
                  (Address  of  principal executive offices)

                              (3531) 679-1688
             (Registrant's telephone number, including area code)

Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding  12  months  (or  for such shorter period that the Registrant was
required  to  file  such  reports),  and  (2)  has  been  subject to such filing
requirements  for  the  past  90  days.       Yes      X     No
                                                   -----        -----

Indicate the number of shares outstanding of each of the Registrant's classes of
common  stock,  as  of  the  latest  practicable  date:

               Class                     Outstanding  at  May  14,  2001
               -----                     -------------------------------
       Common  Stock,  $0.01                     15,837,808
             par  value



<PAGE>

FORWARD-LOOKING  STATEMENTS

Statements  in  this report, to the extent that they are not based on historical
events,  constitute  forward-looking  statements.  Forward-looking  statements
include,  without  limitation,  statements  regarding  the  outlook  for  future
operations, forecasts of future costs and expenditures, the evaluation of market
conditions, the outcome of legal proceedings, the adequacy of reserves, or other
business  plans.  Investors  are  cautioned  that forward-looking statements are
subject  to  an inherent risk that actual results may vary materially from those
described  herein.  Factors  that  may  result  in such variance, in addition to
those  accompanying  the forward-looking statements, include changes in interest
rates,  prices  and  other  economic conditions; actions by competitors; natural
phenomena;  actions  by  government  and  regulatory  authorities; uncertainties
associated  with  legal proceedings; technological development; future decisions
by management in response to changing conditions; and misjudgments in the course
of  preparing  forward-looking  statements.


                  PART  I.  FINANCIAL  INFORMATION
                            ----------------------

ITEM  1.  FINANCIAL  STATEMENTS




                      TRIMAINE  HOLDINGS,  INC.

                CONSOLIDATED  FINANCIAL  STATEMENTS

          FOR  THE  THREE  MONTHS  ENDED  MARCH  31,  2001

                            (UNAUDITED)

<PAGE>
<TABLE>
<CAPTION>

                            TRIMAINE  HOLDINGS,  INC.
                          CONSOLIDATED  BALANCE  SHEETS
                                    (UNAUDITED)
                              (DOLLARS IN THOUSANDS)



                                              MARCH 31, 2001    DECEMBER 31, 2000
                                             ----------------  -------------------
<S>                                          <C>               <C>
ASSETS
Current Assets
  Cash and cash equivalents                  $         3,747   $            2,721
  Account receivable                                       -                3,481
  Receivable from affiliates                           1,577                  445
  Note receivable                                      1,111                    -
  Real estate held for development and sale              986                  896
  Deferred tax asset                                     290                    -
                                             ----------------  -------------------
      Total current assets                             7,711                7,543

Investments                                           10,000               10,128
                                             ----------------  -------------------
                                             $        17,711   $           17,671
                                             ================  ===================


LIABILITIES AND SHAREHOLDERS' EQUITY

Current Liabilities
  Accounts payable                           $            85   $              100
  Accrued liabilities                                    134                  123
  Deferred income tax liability                            -                  225
  Income tax liability                                   534                    -
                                             ----------------  -------------------
      Total current liabilities                          753                  448


Shareholders' Equity
  Preferred stock                                          1                    1
  Common stock                                           158                  158
  Additional paid-in capital                          16,468               16,468
  Retained earnings                                      554                  734
  Accumulated other comprehensive loss                  (223)                (138)
                                             ----------------  -------------------
      Total equity                                    16,958               17,223
                                             ----------------  -------------------
                                             $        17,711   $           17,671
                                             ================  ===================
</TABLE>


   The accompanying notes are an integral part of these financial statements.

<PAGE>
<TABLE>
<CAPTION>

                               TRIMAINE  HOLDINGS,  INC.
         CONSOLIDATED  STATEMENTS  OF  OPERATIONS  AND  RETAINED  EARNINGS  (DEFICIT)
                                     (UNAUDITED)
                  (DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)



                                                   FOR THE THREE     FOR THE THREE
                                                    MONTHS ENDED      MONTHS ENDED
                                                   MARCH 31, 2001    MARCH 31, 2000
                                                  ----------------  ----------------
<S>                                               <C>               <C>
Revenues
  Dividend income                                 $           270   $           281
  Loss on sale of investment                                    -                (5)
  Other                                                        34                50
                                                  ----------------  ----------------
                                                              304               326
                                                  ----------------  ----------------
Costs and expenses
  General and administrative                                  112               134
  Real estate taxes                                             5                 5
  Interest                                                      5                80
                                                  ----------------  ----------------
                                                              122               219
                                                  ----------------  ----------------

Income before income tax provision                            182               107

Income tax provision                                           62                 -
                                                  ----------------  ----------------

Net income                                                    120               107

Retained earnings (deficit), beginning of period              734              (708)
Dividends paid on preferred shares                           (300)             (300)
                                                  ----------------  ----------------
Retained earnings (deficit), end of period        $           554   $          (901)
                                                  ================  ================

Basic and diluted earnings per share              $          0.00   $          0.00
                                                  ================  ================

</TABLE>


   The accompanying notes are an integral part of these financial statements.

<PAGE>
<TABLE>
<CAPTION>

                                    TRIMAINE  HOLDINGS,  INC.
                         CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
                                           (UNAUDITED)
                                      (DOLLARS IN THOUSANDS)


                                    FOR THE THREE     FOR THE THREE
                                    MONTHS ENDED      MONTHS ENDED
                                    MARCH 31, 2001    MARCH 31, 2000
                                   ----------------  ----------------
<S>                                <C>               <C>
Net Income                         $           120   $           107

Other comprehensive loss:
  Unrealized loss on securities                (85)             (760)
                                   ----------------  ----------------

Total comprehensive income (loss)  $            35   $          (653)
                                   ================  ================

</TABLE>


   The accompanying notes are an integral part of these financial statements.

<PAGE>
<TABLE>
<CAPTION>

                              TRIMAINE  HOLDINGS,  INC.
                        CONSOLIDATED STATEMENTS OF CASH FLOWS
                                     (UNAUDITED)
                                (DOLLARS IN THOUSANDS)


                                                    FOR THE THREE     FOR THE THREE
                                                     MONTHS ENDED      MONTHS ENDED
                                                    MARCH 31, 2001    MARCH 31, 2000
                                                   ----------------  ----------------
<S>                                                <C>               <C>
Cash Flows from Operating Activities
    Net income from operation                      $           120   $           107
    Adjustments to reconcile net income to net
      cash provided by operating activities:
    Loss on sale of investment                                   -                 5
    Amortization                                                 -                17

Changes in operating assets and liabilities:
    Account receivable                                       3,481                 -
    Real estate held for development and sale                  (90)              (13)
    Prepaid and other assets                                     -                77
    Receivable from affiliates                              (1,132)               44
    Deferred tax asset                                        (247)                -
    Accounts payable and accrued liabilities                    (4)              (44)
    Deferred tax liability                                    (225)                -
    Income tax liability                                       534                 -
    Other                                                        -                 6
                                                   ----------------  ----------------
        Net cash provided by operating activities            2,437               199

Cash Flows from Investing Activities
    Increase in note receivable                             (1,111)                -
                                                   ----------------  ----------------
          Net cash used in investing activities             (1,111)                -

Cash Flows from Financing Activities
    Dividend                                                  (300)             (300)
                                                   ----------------  ----------------
          Net cash used in financing activities               (300)             (300)
                                                   ----------------  ----------------

Increase (decrease) in cash and cash equivalents             1,026              (101)
Cash and cash equivalents, beginning of period               2,721             2,072
                                                   ----------------  ----------------
Cash and cash equivalents, end of period           $         3,747   $         1,971
                                                   ================  ================

</TABLE>


   The accompanying notes are an integral part of these financial statements.

<PAGE>
                             TRIMAINE HOLDINGS, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                 MARCH 31, 2001
                                   (UNAUDITED)

NOTE  1.  BASIS  OF  PRESENTATION

The  interim period consolidated financial statements contained herein have been
prepared  by  the  Registrant  pursuant to the rules and regulations of the U.S.
Securities and Exchange Commission. Certain information and footnote disclosures
normally  included in financial statements prepared in accordance with generally
accepted  accounting  principles have been condensed or omitted pursuant to such
rules  and regulations.  These interim period statements should be read together
with  the  audited  consolidated  financial  statements  and  accompanying notes
included  in  the  Registrant's  latest  annual report on Form 10-K for the year
ended  December  31,  2000.  In  the  opinion  of  the Registrant, the unaudited
consolidated  financial  statements  contained  herein  contain  all adjustments
necessary  in  order  to present a fair statement of the results for the interim
periods  presented.

NOTE  2.  EARNINGS  (LOSS)  PER  SHARE

Basic  earnings  (loss)  per share is computed on the weighted average number of
shares  outstanding  during  the  period.  The weighted average number of shares
outstanding  were 15,837,808 for the three months ended March 31, 2001 and 2000,
respectively.


<PAGE>
                         PART I.  FINANCIAL INFORMATION
                                  ---------------------

ITEM  2.  MANAGEMENT'S  DISCUSSION  AND  ANALYSIS OF FINANCIAL CONDITION AND
          RESULTS  OF  OPERATIONS

The following discussion and analysis of the results of operations and financial
condition  of  TriMaine  Holdings, Inc. (the "Corporation") for the three months
ended  March  31,  2001  should  be  read  in  conjunction with the consolidated
financial  statements  and  related  notes  included  elsewhere  herein.

RESULTS  OF  OPERATIONS  -  THREE  MONTHS  ENDED  MARCH  31,  2001

Revenues  were  $0.3 million for the three months ended March 31, 2001 and 2000,
respectively,  primarily as a result of dividends received on shares held by the
Corporation.

Costs  and expenses for the three months ended March 31, 2001 were $0.1 million,
compared  to  $0.2  million in the comparative period of 2000.  Interest expense
decreased to $5,000 in the three months ended March 31, 2001 from $80,000 in the
same  period  of  2000,  primarily  as a result of decreased indebtedness in the
current  period.

Net  income  was $0.1 million in the three months ended March 31, 2001 and 2000,
respectively.

LIQUIDITY  AND  CAPITAL  RESOURCES

The Corporation had cash and cash equivalents of $3.7 million at March 31, 2001,
compared  to  $2.7  million  at  December  31,  2000.

Operating  activities  provided  cash  of $2.4 million in the three months ended
March  31,  2001,  compared  to $0.2 million in the three months ended March 31,
2000.  A  decrease  in  account  receivable provided cash of $3.5 million in the
three  months  ended  March  31, 2001, compared to nil in the three months ended
March  31,  2000.  An  increase in receivables from affiliates used cash of $1.1
million  in  the  three  months  ended  March  31,  2001, compared to a decrease
providing  cash  of  $44,000  in  the  same  period  of  2000.

Financing  activities  used cash of $0.3 million in the three months ended March
31, 2001 and 2000, respectively.  The Corporation paid $0.3 million in dividends
on  its  preferred  stock  in  the  three  months ended March 31, 2001 and 2000,
respectively.

The  Corporation  has no commitments for capital expenditures in relation to its
undeveloped  real  estate,  although  it  may  need  to  provide  funds  for
pre-development  work on certain parcels in order to enhance their marketability
and  sale  value.

The  Corporation  believes that its assets should enable the Corporation to meet
its  current  ongoing  liquidity  requirements.

<PAGE>

ITEM  3.  QUANTITATIVE  AND  QUALITATIVE  DISCLOSURES  ABOUT  MARKET  RISK

Reference is made to the Corporation's annual report on Form 10-K for the fiscal
year  ended  December  31,  2000  for  information  concerning  market  risk.

                           PART II.  OTHER INFORMATION
                                     -----------------

ITEM  1.  LEGAL  PROCEEDINGS

Reference is made to the Corporation's annual report on Form 10-K for the fiscal
year  ended  December  31,  2000  for  information concerning legal proceedings.

ITEM  6.  EXHIBITS  AND  REPORTS  ON  FORM  8-K

(a)     EXHIBITS

None.

(b)     REPORTS  ON  FORM  8-K

None.


<PAGE>

     SIGNATURES

In  accordance with the requirements of the Securities Exchange Act of 1934, the
Registrant  caused  this  report  to be signed on its behalf by the undersigned,
thereunto  duly  authorized.

Dated:  May  14,  2001

                       TRIMAINE  HOLDINGS,  INC.

                        By:  /s/  Michael  J.  Smith
                             -----------------------
                             Michael  J.  Smith,  President,  Chief
                             Financial  Officer  and  Director