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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  JUNE  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  August  12,  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 SIX MONTHS ENDED JUNE 30, 2003

                                  (UNAUDITED)



                                        2

<PAGE>

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

<TABLE>
<CAPTION>

                                              JUNE 30, 2003    DECEMBER 31, 2002
                                              -------------    -----------------
<S>                                           <C>              <C>
                                     ASSETS
Current Asset
  Cash and cash equivalents                     $   3,872          $   3,494
  Note receivable                                      28                728
  Real estate held for development and sale         1,258              1,242
  Other                                               464                442
                                                ---------          ---------
      Total current assets                          5,622              5,906

Investments                                        15,701             13,741
                                                ---------          ---------
                                                $  21,323          $  19,647
                                                =========          =========

                      LIABILITIES AND SHAREHOLDERS' EQUITY

Current Liabilities
  Accounts payable                              $      13          $      45
  Accrued liabilities                                 235                178
  Advance from affiliates                             678                506
                                                ---------          ---------
      Total current liabilities                       926                729

Deferred income tax liability                       1,460                866
                                                ---------          ---------
                                                    2,386              1,595

Shareholders' Equity
  Preferred stock                                       1                  1
  Common stock                                        152                152
  Additional paid-in capital                       16,322             16,331
  Deficit                                          (1,107)              (707)
  Accumulated other comprehensive income            3,569              2,275
                                                ---------          ---------
      Total equity                                 18,937             18,052
                                                ---------          ---------
                                                $  21,323          $  19,647
                                                =========          =========

</TABLE>


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


                                        3

<PAGE>

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

<TABLE>
<CAPTION>

                                        FOR THE SIX      FOR THE SIX
                                        MONTHS ENDED     MONTHS ENDED
                                        JUNE 30, 2003    JUNE 30, 2002
                                        -------------    -------------
<S>                                     <C>              <C>
REVENUES
  Investment and other income           $          6     $       281
                                        ------------     -----------
                                                   6             281
                                        ------------     -----------

COSTS AND EXPENSES
  General and administrative expenses            174             103
  Interest                                         4               4
                                        ------------     -----------
                                                 178             107
                                        ------------     -----------

Income (loss) before income tax                 (172)            174

Income tax expense (benefit)                     (72)             59
                                        ------------     -----------

Net income (loss)                               (100)            115

Deficit, beginning of period                    (707)           (683)
Dividends paid on preferred shares              (300)           (300)
                                        ------------     -----------
Deficit, end of period                  $     (1,107)    $      (868)
                                        ============     ===========

Basic loss per share                    $      (0.02)    $     (0.00)
                                        ============     ===========

</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
                                        JUNE 30, 2003    JUNE 30, 2002
                                       --------------    -------------
<S>                                    <C>                <C>
REVENUES
  Investment and other income           $          44    $          30
                                        -------------    -------------
                                                   44               30
                                        -------------    -------------
COSTS AND EXPENSES
  General and administrative expenses              71               42
  Interest                                          2                1
                                        -------------    -------------
                                                   73               43
                                        -------------    -------------

Loss before income tax                            (29)             (13)

Income tax benefit                                (62)             (38)
                                        -------------    -------------

Net income                                         33               25

Deficit, beginning of period                   (1,140)            (893)
                                        -------------    -------------
Deficit, end of period                  $      (1,107)   $        (868)
                                        =============    =============

Basic loss per share                    $       (0.00)   $       (0.00)
                                        =============    =============

</TABLE>


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


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<PAGE>

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

<TABLE>
<CAPTION>

                                                       FOR THE SIX      FOR THE SIX
                                                       MONTHS ENDED     MONTHS ENDED
                                                       JUNE 30, 2003    JUNE 30, 2002
                                                       -------------    -------------
<S>                                                    <C>              <C>
Net income (loss)                                      $      (100)     $        115

Other comprehensive gain (loss):
  Unrealized gain (loss) on securities, net of taxes         1,294            (3,517)
                                                       -----------      ------------

Total comprehensive income (loss)                      $     1,194      $     (3,402)
                                                       ===========      ============

</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
                                                       JUNE 30, 2003    JUNE 30, 2002
                                                       -------------    -------------
<S>                                                    <C>              <C>
Net income                                             $          33    $          25

Other comprehensive gain (loss):
  Unrealized gain (loss) on securities, net of taxes             797           (2,098)
                                                       -------------    -------------

Total comprehensive income (loss)                      $         830    $      (2,073)
                                                       =============    =============

</TABLE>


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


                                        7

<PAGE>


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

<TABLE>
<CAPTION>

                                                  FOR THE SIX      FOR THE SIX
                                                  MONTHS ENDED     MONTHS ENDED
                                                  JUNE 30, 2003    JUNE 30, 2002
                                                  -------------    -------------
<S>                                               <C>              <C>
Cash Flows from Operating Activities
    Net income (loss) from operations             $       (100)    $        115
    Adjustments to reconcile net income to
      net cash used in operating activities:

    Changes in current assets and liabilities:
      Real estate held for development and sale            (16)             (74)
      Accounts payable and accrued liabilities              25              (90)
      Advances from affiliate                              172                -
      Deferred income tax liabilities                      (72)              59
      Other                                                (22)            (274)
                                                  ------------     ------------
          Net cash used in operating activities            (13)            (264)

Cash Flows from Investing Activities
    (Increase) decrease in note receivable                 700             (905)
                                                  ------------     ------------
          Net cash provided by (used in)
              investing activities                         700             (905)

Cash Flows from Financing Activities
    Repurchases of common shares                            (9)             (10)
    Dividend on preferred shares                          (300)            (300)
                                                  ------------     ------------
          Net cash used in financing activities           (309)            (310)
                                                  ------------     ------------

Change in cash and cash equivalents                        378           (1,479)
Cash and cash equivalents, beginning of period           3,494            5,919
                                                  ------------     ------------
Cash and cash equivalents, end of period          $      3,872     $      4,440
                                                  ============     ============

</TABLE>

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


                                        8

<PAGE>
                             TRIMAINE HOLDINGS, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 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.

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  15,231,869 and 15,312,388 for the six month periods ended June 30, 2003 and
2002,  respectively,  and  15,221,622 and 15,305,455 for the three month periods
ended  June 30, 2003 and 2002, respectively.  There were no potentially dilutive
securities  outstanding  during  the  six months and three months ended June 30,
2003  and  2002,  respectively.

                                        9

<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 six months and
three  months  ended  June  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  -  SIX  MONTHS  ENDED  JUNE  30,  2003

Revenues  were  $6,000  for  the  six  months  ended  June 30, 2003, compared to
$281,000  for  the  six  months  ended June 30, 2002, and consisted primarily of
income  earned  on  investments.

Costs  and  expenses  were  $0.2 million for the six months ended June 30, 2003,
compared  to  $0.1  million  for  the  comparative period in 2002, and consisted
primarily  of  general  and  administrative expenses.  Interest expense remained
approximately  the  same  in  the  six  months  ended  June  30,  2003 and 2002.

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

RESULTS  OF  OPERATIONS  -  THREE  MONTHS  ENDED  JUNE  30,  2003

Revenues  were  $44,000  for  the  three months ended June 30, 2003, compared to
$30,000  for  the  three  months ended June 30, 2002, and consisted primarily of
income  earned  on  investments.

Costs  and  expenses  were  $73,000  for  the  three months ended June 30, 2003,
compared  to $43,000 in the prior period, and consisted primarily of general and
administrative  expenses.  Interest  expense  increased  marginally in the three
months  ended  June  30,  2003  from  the  same  period  of  2002.

The  Corporation  had  net  income of $33,000 in the three months ended June 30,
2003,  compared  to  $25,000  in  the  same  period  of  2002.

LIQUIDITY  AND  CAPITAL  RESOURCES

The  Corporation had cash and cash equivalents of $3.9 million at June 30, 2003,
compared  to $3.5 million at December 31, 2002.  The Corporation had real estate
held for development and sale of $1.3 million at June 30, 2003, compared to $1.2
million  at  December  31,  2002.

Operating activities used cash of $13,000 in the six months ended June 30, 2003,
compared to $264,000 in the six months ended June 30, 2002.  An increase in real
estate held for development and sale used cash of $16,000 in the current period,
compared  to $74,000 in the comparative period of 2002.  An increase in accounts
payable and accrued liabilities provided cash of $25,000 in the six months ended
June  30, 2003, compared to a decrease in same using cash of $90,000 in the same
period in 2002.  An increase in advances from an affiliate provided cash of $0.2
million  in  the  six

                                       10

<PAGE>

months  ended June 30, 2003. Changes in other assets used cash of $22,000 in the
current  period,  compared  to  $274,000  in  the  comparative  period  in 2002.

Investing  activities provided cash of $0.7 million in the six months ended June
30, 2003, primarily as a result of repayments received on a note receivable.  In
the  six  months  ended  June 30, 2002, the Corporation advanced $0.9 million in
connection  with  this  note  receivable.

Financing  activities used cash of $0.3 million in the six months ended June 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

Within  90 days prior to the date of 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 about the likelihood of
certain  events,  and  there can be no assurance that any design will succeed in
achieving  its  stated  goals  under  all  future  conditions, regardless of how
remote.  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  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:  August  12,  2003

                                   TRIMAINE  HOLDINGS,  INC.


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

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