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                                  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  SEPTEMBER  30,  2003

                                       or

  [ ]         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.)

      FLOOR 21, MILLENNIUM TOWER, HANDELSKAI 94-96, A-1200, VIENNA, AUSTRIA
                               (Address of office)

                                   (43) 1 240 25 102
                   (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  by  check  mark  whether  the  Registrant  is an accelerated filer (as
defined  in  Rule  12b-2  of  the  Act).  Yes          No    X
                                               -----       -----

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  November 14,  2003
            -----               -----------------------------------

     Common  Stock, $0.01                   15,221,397
          par  value

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<PAGE>

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

ITEM  1.  FINANCIAL  STATEMENTS




                            TRIMAINE HOLDINGS, INC.

                        CONSOLIDATED FINANCIAL STATEMENTS

                  FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2003

                                  (UNAUDITED)



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<PAGE>

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

<TABLE>
<CAPTION>

                                            SEPTEMBER  30,  2003      DECEMBER  31,  2002
                                            --------------------      -------------------
<S>                                         <C>                       <C>
                   ASSETS
Current Assets
    Cash and cash equivalents                   $   3,479                     $   3,494
    Note receivable                                     -                           728
    Real estate held for development and sale       1,267                         1,242
    Other                                             452                           442
                                                ---------                     ---------
        Total current assets                        5,198                         5,906

Investments                                        25,974                        13,741
                                                ---------                     ---------
                                                $  31,172                     $  19,647
                                                =========                     =========

       LIABILITIES AND SHAREHOLDERS' EQUITY

Current Liabilities
    Accounts payable                            $       5                     $      45
    Accrued liabilities                               240                           178
    Advance from affiliates                           269                           506
                                                ---------                     ---------
        Total current liabilities                     514                           729

Deferred Income Tax Liability                       4,949                           866
                                                ---------                     ---------
                                                    5,463                         1,595

Shareholders' Equity
    Preferred stock                                     1                             1
    Common stock                                      152                           152
    Additional paid-in capital                     16,322                        16,331
    Deficit                                        (1,116)                         (707)
    Accumulated other comprehensive income         10,350                         2,275
                                                ---------                     ---------
        Total equity                               25,709                        18,052
                                                ---------                     ---------
                                                $  31,172                     $  19,647
                                                =========                     =========

</TABLE>

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


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<PAGE>


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


<TABLE>
<CAPTION>

                                           FOR THE NINE          FOR THE NINE
                                           MONTHS ENDED          MONTHS ENDED
                                           SEPTEMBER 30, 2003    SEPTEMBER 30, 2002
                                           ------------------    ------------------
<S>                                        <C>                   <C>
Revenues
  Investment and other income              $            14       $           356
                                           ---------------       ---------------
                                                        14                   356
                                           ---------------       ---------------

Costs and Expenses
  General and administrative expenses                  192                   194
  Interest                                               7                     9
                                           ---------------       ---------------
                                                       199                   203
                                           ---------------       ---------------

Income (loss) before income tax                       (185)                  153

Income tax expenses (benefit)                          (76)                   52
                                           ---------------       ---------------

Net income (loss)                                     (109)                  101

Deficit, beginning of period                          (707)                 (683)
Dividends paid on preferred shares                    (300)                 (300)
                                           ---------------       ---------------
Deficit, end of period                     $        (1,116)      $          (882)
                                           ===============       ===============

Basic loss per share                       $         (0.02)      $         (0.01)
                                           ===============       ===============

</TABLE>

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


                                        4

<PAGE>

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

<TABLE>
<CAPTION>

                                           FOR THE THREE           FOR THE THREE
                                           MONTHS ENDED            MONTHS ENDED
                                           SEPTEMBER 30, 2003      SEPTEMBER 30, 2002
                                           ------------------      ------------------
<S>                                        <C>                     <C>
Revenues
  Investment and other income              $             8         $            75
                                           ---------------         ---------------
                                                         8                      75
                                           ---------------         ---------------
Costs and Expenses
  General and administrative expenses                   18                      91
  Interest                                               3                       5
                                           ---------------         ---------------
                                                        21                      96
                                           ---------------         ---------------

Loss before income tax                                 (13)                    (21)

Income tax benefit                                      (4)                     (7)
                                           ---------------         ---------------

Net loss                                                (9)                    (14)

Deficit, beginning of period                        (1,107)                   (868)
                                           ---------------         ---------------
Deficit, end of period                     $        (1,116)        $          (882)
                                           ===============         ===============

Basic loss per share                       $         (0.01)        $         (0.01)
                                           ===============         ===============

</TABLE>

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


                                        5

<PAGE>

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

<TABLE>
<CAPTION>

                                                           FOR THE NINE          FOR THE NINE
                                                           MONTHS ENDED          MONTHS ENDED
                                                           SEPTEMBER 30, 2003    SEPTEMBER 30, 2002
                                                           ------------------    ------------------
<S>                                                        <C>                   <C>
Net income (loss)                                          $         (109)       $         101

Other comprehensive gain (loss):
  Unrealized gain (loss) on securities, net of taxes                8,075               (5,381)
                                                           --------------        -------------

Total comprehensive income (loss)                          $        7,966        $      (5,280)
                                                           ==============        =============

</TABLE>

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


                                        6

<PAGE>


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

<TABLE>
<CAPTION>

                                                          FOR THE THREE         FOR THE THREE
                                                          MONTHS ENDED          MONTHS ENDED
                                                          SEPTEMBER 30, 2003    SEPTEMBER 30, 2002
                                                          ------------------    ------------------
<S>                                                       <C>                   <C>
Net loss                                                    $          (9)        $         (14)

Other comprehensive gain (loss):
  Unrealized gain (loss) on securities, net of taxes                6,781                (1,864)
                                                            -------------         -------------

Total comprehensive income (loss)                           $       6,772         $      (1,878)
                                                            =============         =============

</TABLE>

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


                                        7

<PAGE>

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

<TABLE>
<CAPTION>

                                                          FOR THE NINE          FOR THE NINE
                                                          MONTHS ENDED          MONTHS ENDED
                                                          SEPTEMBER 30, 2003    SEPTEMBER 30, 2002
                                                          ------------------    ------------------
<S>                                                       <C>                   <C>
Cash Flows from Operating Activities
    Net income (loss)                                     $         (109)       $        101
    Adjustments to reconcile net income (loss) to
      net cash used in operating activities:

    Changes in operating assets and liabilities:
      Real estate held for development and sale                      (25)                (75)
      Accounts payable and accrued liabilities                        22                (166)
      Amount due to affiliates                                      (237)               (993)
      Deferred income tax liability                                  (75)                 51
      Other                                                          (10)               (263)
                                                          --------------        ------------
        Net cash used in operating activities                       (434)             (1,345)

Cash Flows from Investing Activities
    (Increase) decrease in note receivable                            728               (718)
                                                          ---------------       ------------
          Net cash provided by investing activities                   728               (718)

Cash Flows from Financing Activities
    Repurchases of common shares                                       (9)               (18)
    Dividends paid on preferred shares                               (300)              (300)
                                                          ---------------       ------------
          Net cash used in financing activities                      (309)              (318)
                                                          ---------------       ------------

Change in cash and cash equivalents                                   (15)            (2,381)
Cash and cash equivalents, beginning of period                      3,494              5,919
                                                          ---------------       ------------
Cash and cash equivalents, end of period                  $         3,479       $      3,538
                                                          ===============       ============

</TABLE>


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


                                        8

<PAGE>

                             TRIMAINE HOLDINGS, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2003
                                   (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 accounting
principles  generally  accepted  in  the  United  States  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, 2002.  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.  The results for the periods presented herein may
not  be  indicative  of  the  results  for  the  entire  year.

NOTE  2.  EARNINGS  (LOSS)  PER  SHARE

Basic  earnings (loss) per share is computed by dividing income (loss) available
to  common  shareholders  by  the  weighted  average  number  of  common  shares
outstanding  in  the  period.  The weighted average number of shares outstanding
was  15,228,340  and  15,303,435  for the nine month periods ended September 30,
2003  and  2002, respectively, and 15,221,397 and 15,285,822 for the three month
periods  ended  September  30,  2003  and  2002,  respectively.  There  were  no
potentially  dilutive  securities  outstanding  during the nine months and three
months  ended  September  30,  2003  and  2002,  respectively.


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<PAGE>

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 nine months and
three  months  ended  September  30, 2003 should be read in conjunction with the
consolidated  financial  statements and related notes included in this quarterly
report, as well as the most recent annual report on Form 10-K for the year ended
December  31,  2002  filed  with the Securities and Exchange Commission ("SEC").

RESULTS  OF  OPERATIONS  -  NINE  MONTHS  ENDED  SEPTEMBER  30,  2003

Revenues  were $14,000 for the nine months ended September 30, 2003, compared to
$356,000  for  the nine months ended September 30, 2002, and consisted primarily
of  income  earned  on  investments.

Costs  and  expenses  were $0.2 million for both the nine months ended September
30,  2003,  and  2002,  respectively  and  consisted  primarily  of  general and
administrative  expenses.  Interest  expense  decreased  marginally  in the nine
months  ended  September  30,  2003  from  the  same  period  of  2002.

The  Corporation  had  a  net  loss  of  $0.1  million  in the nine months ended
September 30, 2003, compared to net income of $0.1 million in the same period of
2002.

RESULTS  OF  OPERATIONS  -  THREE  MONTHS  ENDED  SEPTEMBER  30,  2003

Revenues  were $8,000 for the three months ended September 30, 2003, compared to
$75,000  for  the three months ended September 30, 2002, and consisted primarily
of  income  earned  on  investments.

Costs  and  expenses were $21,000 for the three months ended September 30, 2003,
compared  to  $96,000  in  the same period last year, and consisted primarily of
general  and  administrative expenses.  Interest expense decreased marginally in
the  three  months  ended  September  30,  2003  from  the  same period of 2002.

The Corporation had a net loss of $9,000 in the three months ended September 30,
2003,  compared  to  $14,000  in  the  same  period  of  2002.

LIQUIDITY  AND  CAPITAL  RESOURCES

The  Corporation  had cash and cash equivalents of approximately $3.5 million at
both September  30, 2003 and December 31, 2002.  The Corporation had real estate
held for development and sale of $1.3 million at September 30, 2003, compared to
$1.2  million  at  December  31,  2002.

Operating  activities  used  cash of $434,000 in the nine months ended September
30,  2003, compared to $1.3 million in the nine months ended September 30, 2002.
An increase in real estate held for development and sale used cash of $25,000 in
the  current period, compared to $75,000 in the same period of 2002. An increase
in accounts payable and accrued liabilities provided cash of $22,000 in the nine
months  ended  September  30, 2003, compared to a decrease in same using cash of
$166,000  in  the  same period in 2002.  A decrease in amounts due to affiliates
used  cash  of  $237,000 in the


                                       10

<PAGE>

nine  months ended September 30, 2003 compared to $993,000 in the same period in
2002.  Changes  in  other  assets  used  cash  of $10,000 in the current period,
compared  to  $263,000  in  the  comparative  period  in  2002.

Investing  activities  provided  cash  of  $0.7 million in the nine months ended
September  30,  2003,  primarily  as  a  result of repayments received on a note
receivable.  In  the  nine  months  ended  September  30,  2002, the Corporation
advanced  $0.7  million  in  connection  with  this  note  receivable.

Financing  activities  used  cash  of  $0.3  million  in  the  nine months ended
September  30,  2003 and 2002, primarily as a result of the payment of dividends
on  the  Corporation's  preferred  stock.

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.

CRITICAL  ACCOUNTING  POLICIES

Reference is made to the Corporation's annual report on Form 10-K for the fiscal
year  ended  December  31,  2002  for information concerning critical accounting
policies.

CAUTIONARY  STATEMENT  REGARDING  FORWARD-LOOKING  INFORMATION

The  statements in this report that are not based on historical facts are called
"forward-looking  statements"  within  the  meaning of the United States Private
Securities Litigation Reform Act of 1995. These statements appear in a number of
different  places  in  this  report  and  can  be  identified  by  words such as
"estimates",  "projects",  "expects",  "intends",  "believes", "plans", or their
negatives  or other comparable words. Also look for discussions of strategy that
involve  risks  and uncertainties. Forward-looking statements include statements
regarding  the  outlook for our 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.  You are
cautioned  that  any  such forward-looking statements are not guarantees and may
involve  risks  and uncertainties. Our actual results may differ materially from
those  in the forward-looking statements due to risks facing us or due to actual
facts  differing  from  the  assumptions underlying our estimates. Some of these
risks  and assumptions include those set forth in reports and other documents we
have  filed with or furnished to the SEC, including in our annual report on Form
10-K  for  the year ended December 31, 2002. We advise you that these cautionary
remarks  expressly  qualify  in  their  entirety  all forward-looking statements
attributable  to  us or persons acting on our behalf. Unless required by law, we
do  not  assume  any  obligation  to  update forward-looking statements based on
unanticipated  events  or  changed  expectations.  However, you should carefully
review  the  reports and other documents we file from time to time with the SEC.


                                       11

<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,  2002  for  information  concerning  market  risk.

ITEM  4.  CONTROLS  AND  PROCEDURES

As  of the end of the period covered by this report, the Corporation carried out
an  evaluation,  under  the  supervision  and  with  the  participation  of  the
Corporation's  principal  executive  officer and principal financial officer, of
the  effectiveness  of  the design and operation of the Corporation's disclosure
controls  and  procedures. Based on this evaluation, the Corporation's principal
executive  officer  and  principal  financial  officer  concluded  that  the
Corporation's  disclosure  controls  and  procedures  are  effective  in  timely
alerting  them  to  material information required to be included in its periodic
reports  filed with the SEC. It should be noted that the design of any system of
controls is based in part upon certain assumptions designed to obtain reasonable
(and  not  absolute)  assurance  as  to  its  effectiveness, and there can be no
assurance  that  any  design  will  succeed  in  achieving  its stated goals. In
addition, the Corporation reviewed its internal controls, and there have been no
significant  changes  in  its  internal  controls or in other factors that could
significantly  affect  those  controls  subsequent  to  the  date  of their last
evaluation.


                                       12

<PAGE>

                           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,  2002  for  information concerning legal proceedings.

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

The  Corporation  held  its annual meeting of shareholders on July 16, 2003.  At
the meeting, Young Soo Koo was elected as a Class II director of the Corporation
for  a  term expiring at the annual meeting of shareholders in 2006.  The voting
results  for  the  election  of  directors  were  as  follows:

                                                          ABSTENTIONS AND
                       VOTES  FOR     VOTES  WITHHELD     BROKER  NON-VOTES
                       ----------     ---------------     -----------------

     Young Soo Ko      10,134,277          35,730                -

Michael  J.  Smith  and  Roy  Zanatta  continued their terms as directors of the
Corporation  after  the  annual  meeting.

ITEM  6.  EXHIBITS  AND  REPORTS  ON  FORM  8-K

(a)  EXHIBITS

     31.1     Section 302 Certification of President and Chief Financial Officer

     32.1     Section 906 Certification of President and Chief Financial Officer

(b)  REPORTS  ON  FORM  8-K

     None.


                                       13

<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:  November  14,  2003

                                   TRIMAINE  HOLDINGS,  INC.


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


                                       14