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,  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  August  8,  2001
         -----                   ---------------------------------

   Common  Stock,  $0.01                    15,487,122
       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  SIX  MONTHS  ENDED  JUNE  30,  2001

                                   (UNAUDITED)




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


<TABLE>
<CAPTION>



<S>                                            <C>             <C>
                                               JUNE 30, 2001   DECEMBER 31, 2000
                                               --------------  -------------------

          ASSETS
Current Assets
  Cash and cash equivalents . . . . . . . . .  $        4,824  $            2,721
  Accounts receivable . . . . . . . . . . . .              38               3,481
  Receivable from affiliates. . . . . . . . .              21                 445
  Note receivable . . . . . . . . . . . . . .           1,111                   -
  Real estate held for development and sale .           1,012                 896
  Other . . . . . . . . . . . . . . . . . . .              13                   -
                                               --------------  -------------------
      Total current assets. . . . . . . . . .           7,019               7,543

Investments . . . . . . . . . . . . . . . . .          15,391              10,128
                                               --------------  -------------------
                                               $       22,410  $           17,671
                                               ==============  ===================


          LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities
  Accounts payable. . . . . . . . . . . . . .  $          100  $              100
  Accrued liabilities . . . . . . . . . . . .             156                 123
  Deferred income tax liability . . . . . . .           1,544                 225
  Income tax liability. . . . . . . . . . . .             633                   -
                                               --------------  -------------------
      Total current liabilities . . . . . . .           2,433                 448


Shareholders' Equity
  Preferred stock . . . . . . . . . . . . . .               1                   1
  Common stock. . . . . . . . . . . . . . . .             157                 158
  Additional paid-in capital. . . . . . . . .          16,455              16,468
  Retained earnings . . . . . . . . . . . . .              29                 734
  Accumulated other comprehensive gain (loss)           3,335                (138)
                                               --------------  -------------------
      Total equity. . . . . . . . . . . . . .          19,977              17,223
                                               --------------  -------------------
                                               $       22,410  $           17,671
                                               ==============  ===================

</TABLE>




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

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

<TABLE>
<CAPTION>



<S>                                                   <C>              <C>
                                                      FOR THE SIX      FOR THE SIX
                                                      MONTHS ENDED     MONTHS ENDED
                                                      JUNE 30, 2001    JUNE 30, 2000
                                                      ---------------  ---------------

Revenues
  Sale of real estate. . . . . . . . . . . . . . . .  $            -   $        4,542
  Dividend income. . . . . . . . . . . . . . . . . .             270              281
  Loss on sale of investment . . . . . . . . . . . .               -               (5)
  Other. . . . . . . . . . . . . . . . . . . . . . .             104              108
                                                      ---------------  ---------------
                                                                 374            4,926
                                                      ---------------  ---------------
Costs and expenses
  Cost of real estate sold and related selling costs               -            1,961
  General and administrative . . . . . . . . . . . .             600              287
  Real estate taxes. . . . . . . . . . . . . . . . .              10               10
  Interest . . . . . . . . . . . . . . . . . . . . .               7              161
                                                      ---------------  ---------------
                                                                 617            2,419
                                                      ---------------  ---------------

(Loss) income before income tax. . . . . . . . . . .            (243)           2,507

Income tax . . . . . . . . . . . . . . . . . . . . .             162              852
                                                      ---------------  ---------------

Net (loss) income. . . . . . . . . . . . . . . . . .            (405)           1,655

Retained earnings (deficit), beginning of period . .             734             (708)
Dividends paid on preferred shares . . . . . . . . .            (300)            (300)
                                                      ---------------  ---------------
Retained earnings, end of period . . . . . . . . . .  $           29   $          647
                                                      ===============  ===============

Basic and diluted (loss) earnings per share. . . . .  $        (0.04)  $         0.10
                                                      ===============  ===============

</TABLE>




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

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

<TABLE>
<CAPTION>



<S>                                                   <C>              <C>
                                                      FOR THE THREE    FOR THE THREE
                                                      MONTHS ENDED     MONTHS ENDED
                                                      JUNE 30, 2001    JUNE 30, 2000
                                                      ---------------  ---------------

Revenues
  Sale of real estate. . . . . . . . . . . . . . . .  $            -   $        4,542
  Other. . . . . . . . . . . . . . . . . . . . . . .              70               58
                                                      ---------------  ---------------
                                                                  70            4,600
                                                      ---------------  ---------------
Costs and expenses
  Cost of real estate sold and related selling costs               -            1,961
  General and administrative . . . . . . . . . . . .             488              153
  Real estate taxes. . . . . . . . . . . . . . . . .               5                5
  Interest . . . . . . . . . . . . . . . . . . . . .               2               81
                                                      ---------------  ---------------
                                                                 495            2,200
                                                      ---------------  ---------------

(Loss) income before income tax. . . . . . . . . . .            (425)           2,400

Income tax . . . . . . . . . . . . . . . . . . . . .             100              852
                                                      ---------------  ---------------

Net (loss) income. . . . . . . . . . . . . . . . . .            (525)           1,548

Retained earnings (deficit), beginning of period . .             554             (901)
                                                      ---------------  ---------------
Retained earnings, end of period . . . . . . . . . .  $           29   $          647
                                                      ===============  ===============

Basic and diluted (loss) earnings per share. . . . .  $        (0.04)  $         0.09
                                                      ===============  ===============

</TABLE>




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

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

<TABLE>
<CAPTION>



<S>                                               <C>              <C>
                                                  FOR THE SIX      FOR THE SIX
                                                  MONTHS ENDED     MONTHS ENDED
                                                  JUNE 30, 2001    JUNE 30, 2000
                                                  ---------------  ---------------

Net (loss) income. . . . . . . . . . . . . . . .  $         (405)  $        1,655

Other comprehensive income (loss):
  Unrealized income (loss) on securities, net of
    income tax . . . . . . . . . . . . . . . . .           3,473             (100)
                                                  ---------------  ---------------

Total comprehensive income . . . . . . . . . . .  $        3,068   $        1,555
                                                  ===============  ===============

</TABLE>




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

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

<TABLE>
<CAPTION>



<S>                                      <C>              <C>
                                         FOR THE THREE    FOR THE THREE
                                         MONTHS ENDED     MONTHS ENDED
                                         JUNE 30, 2001    JUNE 30, 2000
                                         ---------------  --------------

Net (loss) income . . . . . . . . . . .  $         (525)  $        1,548

Other comprehensive gain:
  Unrealized gain on securities, net of
    income tax. . . . . . . . . . . . .           3,558              660
                                         ---------------  --------------

Total comprehensive income. . . . . . .  $        3,033   $        2,208
                                         ===============  ==============

</TABLE>




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

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

<TABLE>
<CAPTION>



<S>                                                <C>              <C>

                                                   FOR THE SIX      FOR THE SIX
                                                   MONTHS ENDED     MONTHS ENDED
                                                   JUNE 30, 2001    JUNE 30, 2000
                                                   ---------------  ---------------

Cash Flows from Operating Activities
    Net (loss) income from operations . . . . . .  $         (405)  $        1,655
    Adjustments to reconcile net (loss) income to
      net cash provided by operating activities:
      Loss on sale of investment. . . . . . . . .               -                5
      Amortization. . . . . . . . . . . . . . . .               -               17

    Changes in current assets and liabilities:
      Real estate held for development and sale .            (116)           1,615
      Prepaid and other assets. . . . . . . . . .             (13)              74
      Accounts receivable . . . . . . . . . . . .           3,443           (1,905)
      Receivable from affiliates. . . . . . . . .             424               44
      Deferred tax. . . . . . . . . . . . . . . .            (471)             852
      Income tax liability. . . . . . . . . . . .             633                -
      Payables. . . . . . . . . . . . . . . . . .              33               15
      Other . . . . . . . . . . . . . . . . . . .               -               47
                                                   ---------------  ---------------
        Net cash provided by operating activities           3,528            2,419

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

Cash Flows from Financing Activities
    Repurchases of common stock . . . . . . . . .             (14)               -
    Dividend. . . . . . . . . . . . . . . . . . .            (300)            (300)
    Repayment of debt . . . . . . . . . . . . . .               -           (2,259)
                                                   ---------------  ---------------
        Net cash used in financing activities . .            (314)          (2,559)
                                                   ---------------  ---------------

Increase (decrease) in cash and cash equivalents.           2,103             (140)

Cash and cash equivalents, beginning of period. .           2,721            2,072
                                                   ---------------  ---------------
Cash and cash equivalents, end of period. . . . .  $        4,824   $        1,932
                                                   ===============  ===============

</TABLE>




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

<PAGE>


                             TRIMAINE HOLDINGS, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 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 was 15,824,963 and 15,837,808 for the six months ended June 30, 2001
and 2000, respectively, and 15,812,259 and 15,837,808 for the three months ended
June  30,  2001  and  2000,  respectively.


<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,  2001  should  be  read  in conjunction with the
consolidated  financial  statements and related notes included elsewhere herein.

RESULTS  OF  OPERATIONS  -  SIX  MONTHS  ENDED  JUNE  30,  2001

Revenues  were  $0.4 million for the six months ended June 30, 2001, compared to
$4.9 million for the six months ended June 30, 2000.  The Corporation recognized
revenue  of  $4.5  million  from the sale of real estate in the six months ended
June  30,  2000.

Costs  and  expenses  for  the six months ended June 30, 2001 were $0.6 million,
compared  to  $2.4  million in the comparative period of 2000.  Interest expense
decreased  to  $7,000 in the six months ended June 30, 2001 from $0.2 million in
the  same period of 2000, primarily as a result of decreased indebtedness in the
current  period.  General  and  administrative expenses were $0.6 million in the
six  months  ended June 30, 2001, compared to $0.3 million in the same period of
2000.

The  Corporation reported a net loss of $0.4 million, or $0.04 per share, in the
six months ended June 30, 2001, compared to net income of $1.7 million, or $0.10
per  share,  in  the  six  months  ended  June  30,  2000.

RESULTS  OF  OPERATIONS  -  THREE  MONTHS  ENDED  JUNE  30,  2001

Revenues were $70,000 for the three months ended June 30, 2001, compared to $4.6
million  for  the  three months ended June 30, 2000.  The Corporation recognized
revenue  of  $4.5 million from the sale of real estate in the three months ended
June  30,  2000.

Costs  and  expenses for the three months ended June 30, 2001 were $0.5 million,
compared  to  $2.2  million in the comparative period of 2000.  Interest expense
decreased  to $2,000 in the three months ended June 30, 2001 from $81,000 in the
same  period  of  2000,  primarily  as a result of decreased indebtedness in the
current  period.  General  and  administrative expenses were $0.5 million in the
three months ended June 30, 2001, compared to $0.2 million in the same period of
2000.

The  Corporation reported a net loss of $0.5 million, or $0.04 per share, in the
three  months  ended  June  30, 2001, compared to net income of $1.5 million, or
$0.09  per  share,  in  the  three  months  ended  June  30,  2000.

LIQUIDITY  AND  CAPITAL  RESOURCES

The  Corporation had cash and cash equivalents of $4.8 million at June 30, 2001,
compared  to  $2.7  million  at  December  31,  2000.

<PAGE>

Operating  activities provided cash of $3.5 million in the six months ended June
30,  2001,  compared  to  $2.4 million in the six months ended June 30, 2000.  A
decrease  in accounts receivable provided cash of $3.4 million in the six months
ended  June  30, 2001, compared to an increase in accounts receivable using cash
of  $1.9  million  in  the same period of 2000.  A decrease in a receivable from
affiliates  provided cash of $0.4 million in the six months ended June 30, 2001,
compared  to  $44,000  in  the  same  period  of  2000.

Investing  activities, comprising of an increase in a note receivable, used cash
of  $1.1  million  in  the  six  months  ended  June  30,  2001.

Financing  activities used cash of $0.3 million in the six months ended June 30,
2001,  compared  to  $2.6  million  in  the six months ended June 30, 2000.  The
Corporation  paid  $0.3  million  in dividends on its preferred stock in the six
months  ended  June  30,  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.

ITEM  3.  QUANTITATIVE  AND  QUALITATIVE  DISCLOSURES  ABOUT  MARKET  RISK

The  Corporation  is  exposed  to  market risks from changes in foreign currency
exchange  rates and equity prices which may affect its results of operations and
financial  condition.  The  Corporation does not enter into derivative contracts
for  its  own  account  to  hedge  against  these  risks.

FOREIGN  CURRENCY  EXCHANGE  RATE  RISK

The  following  table  provides  information about the Corporation's exposure to
foreign currency exchange rate fluctuations for the carrying amount of financial
instruments  that may be sensitive to such fluctuations as at June 30, 2001, and
expected  cash  flows  from  these  instruments.

<TABLE>
<CAPTION>



<S>                   <C>      <C>      <C>    <C>    <C>    <C>    <C>    <C>
                              AS AT JUNE 30, 2001
                                (IN THOUSANDS)

                                                 EXPECTED FUTURE CASH FLOW
                                        ---------------------------------------------
                                              YEAR ENDING JUNE 30,
                      CARRYING FAIR     ---------------------------------
                      VALUE    VALUE     2002   2003   2004   2005   2006  THEREAFTER
                      -------  -------  -----  -----  -----  -----  -----  ----------
Investments(1) . . .  $    20  $    20  $   0  $   0  $   0  $   0  $   0  $    20

</TABLE>



_____________
(1)     Investments  consist  of  equity  securities,  which  are  primarily
        denominated  in  Canadian  dollars.

<PAGE>

EQUITY  PRICE  RISK

The  following  table  provides  information about the Corporation's exposure to
fluctuations  in  equity prices for the carrying amount of financial instruments
sensitive to such fluctuations as at June 30, 2001, and expected cash flows from
these  instruments.


<TABLE>
<CAPTION>



<S>                   <C>      <C>      <C>    <C>    <C>    <C>    <C>    <C>
                              AS AT JUNE 30, 2001
                                (IN THOUSANDS)

                                                 EXPECTED FUTURE CASH FLOW
                                        ---------------------------------------------
                                              YEAR ENDING JUNE 30,
                      CARRYING FAIR     ---------------------------------
                      VALUE    VALUE     2002   2003   2004   2005   2006  THEREAFTER
                      -------  -------  -----  -----  -----  -----  -----  ----------
Investments(1) . . .  $15,391  $15,391  $   0  $   0  $   0  $   0  $   0  $15,391

</TABLE>



_____________
(1)     Investments  consist  of  equity  securities.

Reference is made to the Corporation's annual report on Form 10-K for the fiscal
year  ended December 31, 2000 for additional 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:  August  13,  2001

                                   TRIMAINE  HOLDINGS,  INC.


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