SECURITIES AND EXCHANGE COMMISSION
                         WASHINGTON, D.C. 20549
                               FORM 10-K

/X/ Annual report pursuant to Section 13 or 15(d) of the Securities 
Exchange Act of 1934

For the year ended December 31, 1997

 / / 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 0-20131

                Fidelity Leasing Income Fund VIII, L.P.               
______________________________________________________________________
         (Exact name of registrant as specified in its charter)       

            Delaware                            23-2627143            
______________________________________________________________________
  (State of Organization)      (I.R.S. Employer Identification No.)   

      3 North Columbus Blvd., Philadelphia, Pennsylvania 19106        
______________________________________________________________________
    (Address of principal executive offices)           (Zip Code)     

                         (215) 574-1636                                
______________________________________________________________________
         (Registrant's telephone number, including area code)          

Securities registered pursuant to Section 12 (b) of the Act:

                                             Name of Each Exchange     
      Title of Each Class                     on Which Registered      

               None                             Not applicable         

Securities registered pursuant to Section 12 (g) of the Act:

                      Limited Partnership Interests                    

                            Title of Class                             

     Indicate by check mark whether the registrant (1) has filed all 
reports required to be filed by Sections 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_____

The number of outstanding limited partnership units of the Registrant 
at December 31, 1997 is 21,695.

There is no public market for these securities.

The index of Exhibits is located on page 10.

                                  1


                                PART I
Item 1.  BUSINESS

     Fidelity Leasing Income Fund VIII, L.P. (the "Fund"), a Delaware 
limited partnership, was organized in 1990 and acquires equipment, 
primarily computer equipment, including printers, tape and disk 
storage devices, data communications equipment, computer terminals, 
technical workstations as well as networking equipment, which is 
leased to third parties on a short-term basis.  The Fund's 
principal objective is to generate leasing revenues for distribution. 
The Fund manages the equipment, releasing or disposing of equipment as 
it comes off lease in order to achieve its principal objective.  The 
Fund does not borrow funds to purchase equipment.

     The Fund generally acquires equipment subject to a lease.  
Purchases of equipment for lease are typically made through equipment 
leasing brokers, under a sale-leaseback arrangement directly from 
lessees owning equipment, from the manufacturer either pursuant to a 
purchase agreement relating to significant quantities of equipment or 
on an ad hoc basis to meet the needs of a particular lessee.

     The equipment leasing industry is highly competitive.  The Fund 
competes with leasing companies, equipment manufacturers and 
distributors, and entities similar to the Fund (including similar 
programs sponsored by the General Partner), some of which have greater 
financial resources than the Fund.  Other leasing companies and 
equipment manufacturers and distributors may be in a position to offer 
equipment to prospective lessees on financial terms which are more 
favorable than those which the Fund can offer.  They may also be in a 
position to offer trade-in-privileges, maintenance contracts and other 
services which the Fund may not be able to offer.  Equipment 
manufacturers and distributors may offer to sell equipment on terms 
and conditions (such as liberal financing terms and exchange 
privileges) which will afford benefits to the purchaser similar to 
those obtained through leases.  As a result of the advantages which 
certain of its competitors may have, the Fund may find it necessary to 
lease its equipment on a less favorable basis than certain of its 
competitors.

     The computer equipment industry is extremely competitive as well.  
Competitive factors include pricing, technological innovation and 
methods of financing.  Certain manufacturer-lessors maintain 
advantages through patent protection, where applicable, and through 
product protection by the use of a policy which combines service and 
hardware with payment for such benefits accomplished through a single 
periodic charge.

     A brief description of the types of equipment in which the Fund 
has invested as of December 31, 1997, together with information 
concerning the users of such equipment is contained in Item 2, 
following.

     The Fund does not have any employees.  All persons who work on 
the Fund are employees of the General Partner.



                                  2


Item 2.  PROPERTIES

     The following schedules detail the type and aggregate purchase 
price of the various types of equipment acquired and leased by the 
Fund as of December 31, 1997, along with the percentage of total 
equipment represented by each type of equipment, a breakdown of 
equipment usage by industrial classification and the average initial 
term of leases:

                                  Purchase Price       Percentage of 
Type of Equipment Acquired         of Equipment       Total Equipment

Disk Storage Systems                $1,723,042            22.62%
Network Communications                  35,985             0.46
Printers                             1,387,709            18.22
Tape Storage Systems                   910,062            11.95
Technical Workstations               3,340,469            43.85
Other                                  220,700             2.90
                                    __________           ______

        Totals                      $7,617,967           100.00%
                                    ==========           ======

                    Breakdown of Equipment Usage
                    By Industrial Classification

                                  Purchase Price       Percentage of 
Type of Business                   of Equipment       Total Equipment

Computers/Data Processing           $  742,572             9.75%
Consumer Products/Retailing          1,986,570            26.07
Defense Contractors                    194,932             2.56
Diversified Financial/Banking/
 Insurance                             387,696             5.09
Manufacturing/Refining               2,583,155            33.91
Telephone/Telecommunications         1,054,269            13.84
Transportation                         668,773             8.78
                                    __________           ______ 

        Totals                      $7,617,967           100.00%
                                    ==========           ======

Average Initial Term of Leases (in months):  36

All of the above equipment is currently leased under operating leases.

Item 3.  LEGAL PROCEEDINGS

     Not applicable.

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

     Not applicable.





                                    3


                                 PART II

Item 5.  MARKET FOR THE REGISTRANT'S COMMON STOCK AND RELATED SECURITY 
         HOLDER MATTERS

         (a)  The Fund's limited partnership units are not publicly  
         traded.  There is no market for the Fund's limited    
         partnership units and it is unlikely that any will develop.

         (b)  Number of Equity Security Holders:

                                                   Number of Partners  
                  Title of Class               as of December 31, 1997

          Limited Partnership Interests                 942

          General Partnership Interest                    1

<TABLE>
Item 6.  SELECTED FINANCIAL DATA
         <CAPTION>
                                               For the Years Ended December 31,      

                                   1997        1996         1995         1994         1993   
<S>                              <C>          <C>          <C>          <C>           <C>    
Total Income                   $2,273,084   $2,258,564   $2,543,493	   $3,452,905   $3,376,928
Net Income (Loss)                 382,297       24,373     (137,721)     123,837      207,044
Distributions to Partners         240,000      225,000    1,105,691    1,307,741    1,377,737
Net Income (Loss) per Equivalent
  Limited Partnership Unit          28.53         1.62        (9.05)        6.16         9.12
Weighted Average Number of
 Equivalent Limited Partnership
 Units Outstanding During the Year 13,264       13,396       15,067       	17,997       21,200
</TABLE>
<TABLE>
                                                     December 31,                  

                                   1997        1996         1995         1994         1993   
<S>                              <C>          <C>           C>           <C>           <C>   
Total Assets                   $5,276,226   $5,071,493   $5,596,725   $6,966,272   $8,619,625
Equipment under Operating
 Leases and Equipment Held for
 Sale or Lease (Net)            3,014,540    3,572,350    2,395,085	    4,323,766    6,282,710
Limited Partnership
 Units                             21,695       21,695       22,812	       23,223       24,406
Limited Partners                      942          943          962          975          992
</TABLE>
















                                     4


Item 7. Management's Discussion and Analysis of Financial Condition and Results
                of Operations

Results of Operations

     Fidelity Leasing Income Fund VIII, L.P. had revenues of $2,273,084, 
$2,258,564 and $2,543,493 for the years ended December 31, 1997, 1996 and 1995, 
respectively.  Rental income from the leasing of computer equipment 
accounted for 90%, 96% and 93% of total revenues in 1997, 1996 and 1995, 
respectively. The increase in total revenues in 1997 was a direct result of the 
increase in net gain on sale of equipment.  For the twelve months ended 
December 31, 1997, $142,890 of net gain on sale of equipment was recognized by 
the Fund as compared to $-0- for both years ended December 31, 1996 and 1995.
However, the decrease in rental income in both 1997 and 1996 reduced the 
overall increase in revenues in 1997 and contributed to the overall decrease in 
revenues in 1996.  Rental income decreased in 1997 by approximately $834,000 
because of equipment which came off lease and was re-leased at lower rental 
rates or sold.  This decrease, however, was reduced by rental income of 
approximately $708,000 generated from equipment on operating leases purchased 
during 1997 as well as rental income earned from 1996 equipment purchases for 
which a full year of rental income was earned in 1997 and only a partial year 
was earned in 1996.  In 1996, rental income decreased by approximately 
$889,000 because of equipment that came off lease and was re-leased at lower 
rental rates or sold.  This decrease, however, was offset by rental income of 
approximately $696,000 generated from equipment on operating leases purchased 
during 1996 as well as rental income earned from 1995 equipment purchases for 
which a full year of rental income was earned in 1996 and only a partial year 
was earned in 1995.  In addition, in 1996, interest income decreased because 
of lower cash balances invested throughout the year which also accounts for 
the overall decrease in revenues from 1995.

     Expenses were $1,890,787, $2,234,191 and $2,681,214 for the years ended 
December 31, 1997, 1996 and 1995, respectively.  Depreciation and amortization
comprised 84%, 62% and 75% of total expenses during the years ended 
December 31, 1997, 1996 and 1995, respectively.  The decrease in total expenses 
in 1997 was primarily related to the decrease in write-down of equipment to net 
realizable value.  Based upon the quarterly review of the recoverability of 
the undepreciated cost of rental equipment, $32,282, $536,697 and $207,780 was 
charged to operations to write down equipment to its estimated net realizable 
value during the years ended December 31, 1997, 1996 and 1995, respectively.
The fluctuation in this account during these years caused the decrease in total 
expenses in 1997 and reduced the decrease in total expenses in 1996.  
Currently, the Fund's practice is to review the recoverability of its 
undepreciated costs of rental equipment quarterly.  The Fund's policy, as part 
of this review, is to analyze such factors as releasing of equipment, 
technological developments and information provided in third party 
publications.  In accordance with Generally Accepted Accounting Principles, the 
Fund writes down its rental equipment to its estimated net realizable value 
when the amounts are reasonably estimated and only recognizes gains upon actual 
sale of its rental equipment.  Any future losses are dependent upon 
unanticipated technological developments affecting the computer equipment 
industry in subsequent years.  Additionally, depreciation expense increased in 
1997 because of equipment purchases made during the current year and 
depreciation recorded on equipment purchased in 1996 for which a full year of 
depreciation expense was taken in 1997 and only a partial year was taken in 
1996.  This increase lowered the amount of the decrease in total expenses in 
1997.  Conversely, depreciation expense decreased in 1996 as compared to 1995 
resulting from equipment which came off lease, terminated or was sold in 1996.

                                   5


Item 7.  Management's Discussion and Analysis of Financial
         Condition and Results of Operations(continued)

Results of Operations (Continued)

This decrease in depreciation expense accounted for the decrease in overall 
expenses from 1995 to 1996.  Furthermore, the Fund incurred a net loss on sale 
of equipment of $12,612 and $132,290 for the years ended December 31, 1996 and 
1995.  There was no charge to net loss on sale of equipment for the year ended 
December 31, 1997.  The decrease in this account contributed to the decrease in 
total expenses in 1997 and 1996, as well.

     The Fund's net income (loss) was $382,297, $24,373 and ($137,721) for the
years ended December 31, 1997, 1996 and 1995, respectively.  The earnings 
(loss) per equivalent limited partnership unit, after earnings (loss) allocated
to the General Partner, were $28.53, $1.62 and ($9.05) based on a weighted 
average number of equivalent limited partnership units outstanding of 13,264, 
13,396 and 15,067 for the years ended December 31, 1997, 1996 and 1995, 
respectively.

     The Fund generated cash from operations of $1,863,778, $1,950,783 and 
$2,210,976, for the purpose of determining cash available for distribution, and 
distributed 11%, 12% and 45% to partners in 1997, 1996 and 1995, respectively 
and 2%, 2% and 0% of these amounts to partners in January and February 1998, 
1997 and 1996, respectively.  For financial statement purposes, the Fund 
records cash distributions to partners on a cash basis in the period in which 
they are paid.  During the fourth quarter of 1996, the General Partner revised 
its policy regarding cash distributions so that the distributions more 
accurately reflect the net income of the Fund over the most recent twelve 
months.

Analysis of Financial Condition

     The Fund continues to purchase computer equipment for lease with cash 
available from operations which is not distributed to partners.  During the 
years ended December 31, 1997, 1996 and 1995, the Fund purchased $1,066,561, 
$3,389,929 and $897,705 respectively, of equipment.

     The cash position of the Fund is reviewed daily and cash is invested on a
short-term basis.

     The Fund's cash from operations is expected to continue to be adequate to
cover all operating expenses and contingencies during the next twelve month 
period.


Item 8.  FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

     The response to this Item is submitted as a separate section of this
report commencing on page F-1.


Item 9.  DISAGREEMENTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

     Not applicable.



                                   6


                               PART III


Item 10:  DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT.

     F.L. Partnership Management, Inc. (FLPMI) is a wholly owned 
subsidiary of Resource Leasing, Inc., a wholly owned subsidiary of 
Resource America, Inc.  The Directors and Executive Officers of FLPMI 
are:

     FREDDIE M. KOTEK, age 41, Chairman of the Board of Directors, 
     President and Chief Executive Officer of FLPMI since September 1995
     and Senior Vice President of Resource America, Inc. since 1995.
     President of Resource Leasing, Inc. since September 1995.  
     Executive Vice President of Resource Properties, Inc.  (a wholly 
     owned subsidiary of Resource America, Inc.) since 1993.  First 
     Vice President of Royal Alliance Associates from 1991 to 1993.  
     Senior Vice President and Chief Financial Officer of Paine Webber 
     Properties from 1990 to 1991.

     MICHAEL L. STAINES, age 48, Director and Secretary of FLPMI since 
     September 1995 and Senior Vice President and Secretary of Resource 
     America, Inc. since 1989.

     SCOTT F. SCHAEFFER, age 35, Director of FLPMI since September 1995 
     and Senior Vice President of Resource America Inc. since 1995.  Vice 
     President-Real Estate of Resource America, Inc. and President of 
     Resource Properties, Inc. (a wholly owned subsidiary of Resource 
     America, Inc.) since 1992.  Vice President of the Dover Group, Ltd. 
     (a real estate investment company) from 1985 to 1992.

     Others:

     STEPHEN P. CASO, age 42, Vice President and General Counsel of FLPMI 
     since 1992.

     MARIANNE T. SCHUSTER, age 39, Vice President and Controller of FLPMI 
     since 1984.

     KRISTIN L. CHRISTMAN, age 30, Portfolio Manager of FLPMI since 
     December 1995 and Equipment Brokerage Manager since 1993.















                                         7



Item 11.  EXECUTIVE COMPENSATION

     The following table sets forth information relating to the aggregate 
compensation earned by the General Partner of the Fund during the year 
ended December 31, 1997:

          Name of Individual or      Capacities in
          Number in Group            Which Served          Compensation

           F.L. Partnership
           Management, Inc.          General Partner        $81,039(1)
                                                            =======  

     (1)   This amount does not include the General Partner's share of 
     cash distributions made to all partners.

Item 12.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

     (a)  As of December 31, 1997, there was no person or group known to 
     the Fund that owned more than 5% of the Fund's outstanding 
     securities either beneficially or of record.

     (b)  In 1990, the General Partner contributed $1,000 to the capital 
     of the Fund but it does not own any of the Fund's outstanding 
     securities. No individual director or officer of F.L. Partnership 
     Management, Inc. nor such directors or officers as a group, owns 
     more than one percent of the Fund's outstanding securities.  The 
     General Partner owns a general partnership interest which entitles 
     it to receive 1% of cash distributions until the Limited Partners 
     have received an amount equal to the purchase price of their Units 
     plus an 11% cumulative compounded Priority Return; thereafter 10%. 
     The General Partner will also share in net income equal to the 
     greater of its cash distributions or 1% of net income or to the 
     extent there are losses, 1% of such losses.

     (c)  There are no arrangements known to the Fund that would, at any 
     subsequent date, result in a change in control of the Fund.

Item 13.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

     During the year ended December 31, 1997, the Fund was charged by the 
General Partner $81,039 of management fees.  The General Partner will 
continue to receive 4% or 2% of rental payments on equipment under 
operating leases and full pay-out leases, respectively, for 
administrative and management services performed on behalf of the Fund.  
Full pay-out leases are noncancellable leases for which rental payments 
during the initial term of the lease are at least sufficient to recover 
the purchase price of the equipment, including acquisition fees.  This 
management fee is paid monthly only if and when the Limited Partners have 
received distributions for the period from the initial closing through 
the end of the most recent calendar quarter equal to a return for such 
period at a rate of 11% per year on the aggregate amount paid for their 
units.





                                     8


Item 13.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS (Continued)


     The General Partner may also receive up to 3% of the proceeds from 
the sale of the Fund's equipment for services and activities to be 
performed in connection with the disposition of equipment.  The payment 
of this sales fee is deferred until the Limited Partners have received 
cash distributions equal to the purchase price of their units plus an 11% 
cumulative compounded priority return.  Based on current estimates, it is 
not expected that the Fund will be required to pay this sales fee to the 
General Partner.  As a result, $55,244 of sales fee accrued by the Fund 
in prior periods was recorded as part of the net gain (loss) on sale of 
equipment during the year ended December 31, 1996.

     The General Partner receives 1% of cash distributions until the 
Limited Partners have received an amount equal to the purchase price of 
their Units plus an 11% cumulative compounded priority return.  
Thereafter, the General Partner will receive 10% of cash distributions.  
During 1997, the General Partner received cash distributions of $2,400.

     The Fund incurred $124,149 of reimbursable costs to the General 
Partner and its parent company for services and materials provided in 
connection with the administration of the Fund during 1997.



































                                        9


                                 PART IV

Item 14.  EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K

     (a)  (1) and (2).  The response to this portion of Item 14 is 
submitted as a separate section of this report commencing on page F-1.

     (a)  (3) and (c) Exhibits (numbered in accordance with Item 601 of 
Regulation S-K)

Exhibit Numbers           Description                     Page Number

3(a) & (4)            Amended and Restated Agreement           *
                      of Limited Partnership

(9)                   not applicable

(10)                  not applicable

(11)                  not applicable

(12)                  not applicable

(13)                  not applicable

(18)                  not applicable

(19)                  not applicable

(22)                  not applicable

(23)                  not applicable

(24)                  not applicable

(25)                  not applicable

(28)                  not applicable


*  Incorporated by reference.

















                                 10


                              SIGNATURES

     Pursuant to the requirements of Section 13 or 15(d) of the 
Securities Exchange Act of 1934, the Registrant has duly caused this 
report to be signed on its behalf by the undersigned, thereunto duly 
authorized.

                   FIDELITY LEASING INCOME FUND VIII, L.P.
                   A Delaware limited partnership

                   By:  F.L. PARTNERSHIP MANAGEMENT, INC.

                        Freddie M. Kotek
                   By:  ___________________________
                        Freddie M. Kotek, Chairman
                        and President

Dated March 26, 1998

     Pursuant to the requirements of the Securities Exchange Act of 
1934, this annual report has been signed below by the following 
persons, on behalf of the Registrant and in the capacities and on the 
date indicated:


Signature                 Title                            Date


Freddie M. Kotek
________________________  Chairman of the Board of Directors  3-26-98
Freddie M. Kotek          and President of F.L. Partnership
                          Management, Inc. (Principal Executive
                          Officer)



Michael L. Staines
________________________  Director of F.L. Partnership        3-26-98
Michael L. Staines        Management, Inc.



Marianne T. Schuster
________________________  Vice President and Controller       3-26-98
Marianne T. Schuster      of F.L. Partnership Management, Inc.
                          (Principal Financial Officer)












                                 11


            INDEX TO FINANCIAL STATEMENTS AND SCHEDULES

                                                              Pages

Report of Independent Certified Public Accountants            F-2

Balance Sheets as of December 31, 1997 and 1996               F-3

Statements of Operations for the years ended
     December 31, 1997, 1996 and 1995                         F-4

Statements of Partners' Capital for the years ended
     December 31, 1997, 1996 and 1995                         F-5

Statements of Cash Flows for the years ended
     December 31, 1997, 1996 and 1995                         F-6

Notes to Financial Statements                                 F-7 - F-11












All schedules have been omitted because the required information is
not applicable or is included in the Financial Statements or Notes 
thereto.

























                                    F-1



Report of Independent Certified Public Accountants


The Partners
Fidelity Leasing Income Fund VIII, L.P.


     We have audited the accompanying balance sheets of Fidelity Leasing
Income Fund VIII, L.P. as of December 31, 1997 and 1996, and the related
statements of operations, changes in partners' capital and cash flows for
each of the three years in the period ended December 31, 1997.  These
financial statements are the responsibility of the Fund's management.
Our responsibility is to express an opinion on these financial statements
based on our audits.

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

     In our opinion, the financial statements referred to above present
fairly, in all material respects, the financial position of Fidelity Leasing
Income Fund VIII, L.P. as of December 31, 1997 and 1996, and the results of
its operations and its cash flows for each of the three years in the period
ended December 31, 1997 in conformity with generally accepted accounting
principles.





Grant Thornton LLP
Philadelphia, Pennsylvania
February 17, 1998



















                                    F-2


                           FIDELITY LEASING INCOME FUND VIII, L.P.

                                          BALANCE SHEETS

<TABLE>
                                              ASSETS
                                              <CAPTION>

                                                         December 31,        

                                                    1997             1996    
<S>                                              <C>              <C>        
Cash and cash equivalents                        $2,022,967        $1,279,570

Accounts receivable                                 154,812           216,696

Due from related parties                             83,907             2,877

Equipment under operating leases
(net of accumulated depreciation of
$4,603,427 and $4,049,192)                        3,014,540         3,572,350

                                                 __________        __________

     Total assets                                $5,276,226        $5,071,493
                                                 ==========        ==========

                             LIABILITIES AND PARTNERS' CAPITAL


Liabilities:


Lease rents paid in advance                      $   82,510        $   43,812

Accounts payable and accrued expenses                52,701            28,167

Due to related parties                                7,918             8,714
                                                 __________         _________

      Total liabilities                             143,129            80,693


Partners' capital                                 5,133,097         4,990,800
                                                 __________        __________
        Total liabilities and
         partners' capital                       $5,276,226        $5,071,493
                                                 ==========        ==========
</TABLE>

















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


                                    F-3


                             FIDELITY LEASING INCOME FUND VIII, L.P.
<TABLE>
                                   STATEMENTS OF OPERATIONS
                                   <CAPTION>
                                                  For the years ended December 31,

                                              1997            1996             1995   
Income:
<S>                                        <C>              <C>             <C>       
Rentals                                    $2,039,604      $2,165,342       $2,358,813
Interest                                       88,212          83,499          180,388
Gain on sale of equipment, net                142,890            -                -   
Other                                           2,378           9,723            4,292
                                           __________      __________       __________

                                            2,273,084       2,258,564        2,543,493
                                           __________      __________       __________
Expenses:
Depreciation and amortization               1,592,089       1,377,101        2,008,627
Write-down of equipment to net
 realizable value                              32,282         536,697          207,780
General and administrative                     61,228          71,903           52,658
General and administrative to
 related party                                124,149         149,847          186,512
Management fee to related party                81,039          86,031           93,347
Loss on sale of equipment, net                   -             12,612          132,290
                                           __________      __________       __________

                                            1,890,787       2,234,191        2,681,214
                                           __________      __________       __________

Net income (loss)                          $  382,297      $   24,373       $ (137,721)
                                           ==========      ==========       ==========

Net income (loss) per equivalent
 limited partnership unit                  $    28.53      $     1.62       $    (9.05)
                                           ==========      ==========       ==========

Weighted average number of
 equivalent limited partnership
 units outstanding during the year             13,264          13,396           15,067
                                           ==========      ==========       ==========
</TABLE>



















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



                                   F-4


                    FIDELITY LEASING INCOME FUND VIII, L.P.
<TABLE>
                            STATEMENTS OF PARTNERS' CAPITAL
                            <CAPTION>
                 For the years ended December 31, 1997, 1996 and 1995


                                      General      Limited Partners                     
                                      Partner     Units       Amount            Total   
                                      _______     __________________            _____   
<S>                                   <C>        <C>       <C>               <C>        
Balance, January 1, 1995             $  2,075   $23,223    $6,819,567        $6,821,642 

Redemptions                              -         (411)     (149,455)         (149,455)

Cash distributions                    (11,057)     -       (1,094,634)       (1,105,691)

Net loss                               (1,377)     -         (136,344)         (137,721)
                                      _______    ______    __________        __________ 

Balance, December 31, 1995            (10,359)   22,812     5,439,134         5,428,775 

Redemptions                              -       (1,117)     (237,348)         (237,348)

Cash distributions                     (2,250)     -         (222,750)         (225,000)

Net income                              2,650      -           21,723            24,373 
                                      _______    ______    __________        __________ 

Balance, December 31, 1996             (9,959)   21,695     5,000,759         4,990,800 

Cash distributions                     (2,400)     -         (237,600)         (240,000)

Net income                              3,823      -          378,474           382,297
                                      _______    ______    __________        __________ 
 
Balance, December 31, 1997            $(8,536)   21,695    $5,141,633        $5,133,097 
                                      =======    ======    ==========        ========== 
</TABLE>




















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





                                      F-5


                        FIDELITY LEASING INCOME FUND VIII, L.P.
<TABLE>
                                     STATEMENTS OF CASH FLOWS
                                 <CAPTION>
                                                  For the years ended December 31,

                                                  1997          1996         1995
   Cash flows from operating activities:
<S>                                            <C>           <C>          <C>       
      Net income (loss)                        $  382,297    $   24,373  $ (137,721)
                                               __________    __________   __________ 
      Adjustments to reconcile net income (loss) 
      to net cash provided by operating activities:
      Depreciation and amortization             1,592,089     1,377,101    2,008,627
      Write-down of equipment to 
       net realizable value                        32,282       536,697      207,780
      (Gain) loss on sale of equipment, net      (142,890)       12,612      132,290
      (Increase) decrease in accounts receivable   61,884        97,049      306,550
      (Increase) decrease in due from 
       related parties                            (81,030)       17,829      (16,202)
      Increase (decrease) in lease 
       rents paid in advance                       38,698        14,246      (21,301)
      Increase (decrease) in accounts
       payable and accrued expenses                24,534       (12,316)      (2,257)
      Increase (decrease) in due to
       related parties                               (796)      (89,187)      46,878
      Increase (decrease) in other, net              -            4,259        4,309
                                               __________    __________   __________

                                                1,524,771     1,958,290    2,666,674
                                               __________    __________   __________
      Net cash provided by operating 
       activities                               1,907,068     1,982,663    2,528,953
                                               __________    __________   __________
   Cash flows from investing activities:
      Acquisition of equipment                 (1,066,561)   (3,389,929)    (897,705)
      Proceeds from sale of equipment             142,890       287,587      480,189
                                               __________    __________   __________

      Net cash used in investing activities      (923,671)   (3,102,342)    (417,516)
                                               __________    __________   __________
   Cash flows from financing activities:
      Distributions                              (240,000)     (225,000)  (1,105,691)
      Redemptions of capital                         -         (237,348)    (149,455)
                                               __________    __________   __________
      Net cash used in financing activities      (240,000)     (462,348)  (1,255,146)
                                               __________    __________   __________

      Increase (decrease) in cash and 
       cash equivalents                           743,397    (1,582,027)     856,291

      Cash and cash equivalents,
       beginning of year                        1,279,570     2,861,597    2,005,306
                                               __________    __________   __________

      Cash and cash equivalents, end of year   $2,022,967    $1,279,570   $2,861,597
                                               ==========    ==========   ==========
</TABLE>




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





                                      F-6


                 FIDELITY LEASING INCOME FUND VIII, L.P.

                     NOTES TO FINANCIAL STATEMENTS

1.  ORGANIZATION AND NATURE OF BUSINESS

Fidelity Leasing Income Fund VIII, L.P. (the "Fund") was formed on 
November 21, 1990.  The General Partner of the Fund is F.L. 
Partnership Management, Inc. ("FLPMI") which is a wholly owned 
subsidiary of Resource Leasing, Inc., a wholly owned subsidiary of 
Resource America, Inc.  The Fund is managed by the General Partner.  
The Fund's limited partnership interests are not publicly traded.  
There is no market for the Fund's limited partnership interests and it 
is unlikely that any will develop.  The Fund acquires computer 
equipment, including printers, tape and disk storage devices, data 
communications equipment, computer terminals, technical workstations 
and networking equipment, which is leased to third parties throughout 
the United States on a short-term basis.

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Concentration of Credit Risk

Financial instruments which potentially subject the Fund to 
concentrations of credit risk consist principally of temporary cash 
investments.  The Fund places its temporary investments in bank 
repurchase agreements.

Concentrations of credit risk with respect to accounts receivables are 
limited due to the dispersion of the Fund's lessees over different 
industries and geographies.

Impairment of Long-Lived Assets

Effective January 1, 1996, the Fund adopted Statement of Financial 
Accounting Standard (SFAS) No. 121, "Accounting for the Impairment of 
Long-Lived Assets and for Long-Lived Assets to be Disposed of."  This 
standard provides guidance on when to recognize and how to measure 
impairment losses of long-lived assets and how to value long-lived 
assets to be disposed of.  The adoption of SFAS No. 121 had no impact 
on the net income of the Fund.

Equipment Held for Sale or Lease

Equipment held for sale or lease is carried at its estimated net 
realizable value.

Use of Estimates

In preparing financial statements in conformity with Generally 
Accepted Accounting Principles, management is required to make 
estimates and assumptions that affect the reported amounts of assets 
and liabilities and the disclosure of contingent assets and 
liabilities at the date of the financial statements and revenues and 
expenses during the reporting period.  Actual results could differ 
from those estimates.


                                      F-7



                FIDELITY LEASING INCOME FUND VIII, L.P.

                     NOTES TO FINANCIAL STATEMENTS


2.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Organization Costs

Organization costs were amortized over a five year period.

Accounting for Leases

The Fund's leasing operations consist of operating leases whereby the 
cost of the leased equipment is recorded as an asset and depreciated 
on a straight-line basis over its estimated useful life, up to six 
years.  Acquisition fees associated with lease placements are 
allocated to equipment when purchased and depreciated as part of 
equipment cost.  Rental income consists primarily of monthly periodic 
rentals due under the terms of the leases.  Generally, during the 
remaining terms of existing operating leases, the Fund will not 
recover all of the undepreciated cost and related expenses of its 
rental equipment and is prepared to remarket the equipment in future 
years.  Upon sale or other disposition of assets, the cost and related 
accumulated depreciation are removed from the accounts and the 
resulting gain or loss, if any, is reflected in income.

Income Taxes

Federal and State income tax regulations provide that taxes on the 
income or benefits from losses of the Fund are reportable by the 
partners in their individual income tax returns.  Accordingly, no 
provision for such taxes has been made in the accompanying financial 
statements.

Statement of Cash Flows

For purposes of the statements of cash flows, the Fund considers all 
highly liquid debt instruments purchased with a maturity of three 
months or less to be cash equivalents.

Net Income per Equivalent Limited Partnership Unit

Net income per equivalent limited partnership unit is computed by 
dividing net income allocated to limited partners by the weighted 
average number of equivalent limited partnership units outstanding 
during the year.  The weighted average number of equivalent units 
outstanding during the year is computed based on the weighted average 
monthly limited partners' capital account balances, converted into 
equivalent units at $500 per unit.







                                     F-8


                     FIDELITY LEASING INCOME FUND VIII, L.P.

                    NOTES TO FINANCIAL STATEMENTS (Continued)

2.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Significant Fourth Quarter Adjustments

Currently, the Fund's practice is to review the recoverability of its 
undepreciated costs of rental equipment quarterly.  The Fund's 
policy, as part of this review, is to analyze such factors as 
releasing of equipment, technological developments and information 
provided in third party publications.  Based upon this review, the 
Fund recorded an adjustment of approximately $18,000, $132,000 and 
$82,000 or $1.36, $9.85 and $5.44 per equivalent limited 
partnership unit to write down its rental equipment in the fourth 
quarter of 1997, 1996 and 1995, respectively.

3.  ALLOCATION OF PARTNERSHIP INCOME, LOSS AND CASH DISTRIBUTIONS

Cash distributions, if any, are made monthly as follows:  99% to the 
Limited Partners and 1% to the General Partner, until the Limited 
Partners have received an amount equal to the purchase price of their 
Units, plus an 11% compounded Priority Return (an amount equal to 11% 
compounded annually on the portion of the purchase price not 
previously distributed); thereafter, 90% to the Limited Partners and 
10% to the General Partner.

Net Losses are allocated 99% to the Limited Partners and 1% to the 
General Partner.  The General Partner is allocated Net Income equal to 
its cash distributions, but not less than 1% of Net Income, with the 
balance allocated to the Limited Partners.

Net Income (Losses) allocated to the Limited Partners are allocated to 
individual limited partners based on the ratio of the daily weighted 
average partner's net capital account balance (after deducting related 
commission expense) to the total daily weighted average of the Limited 
Partners' net capital account balances.

4.  EQUIPMENT LEASED

Equipment on lease consists primarily of computer equipment under 
operating leases.  A majority of the equipment was manufactured by 
IBM and Silicon Graphics.  The lessees have agreements with the 
manufacturer to provide maintenance for the leased equipment.  The 
Fund's operating leases are for initial lease terms of 11 to 48 
months.

In accordance with Generally Accepted Accounting Principles, the Fund 
writes down its rental equipment to its estimated net realizable value 
when the amounts are reasonably estimated and only recognizes gains 
upon actual sale of its rental equipment.  As a result, in 1997, 1996 
and 1995, approximately $32,000, $537,000 and $208,000, respectively, 
was charged to write-down of equipment to net realizable value.  Any 
future losses are dependent upon unanticipated technological develop-
ments affecting the computer equipment industry in subsequent years.


                                      F-9


                      FIDELITY LEASING INCOME FUND VIII, L.P.

                     NOTES TO FINANCIAL STATEMENTS (Continued)

4.  EQUIPMENT LEASED (Continued)

The future approximate minimum rentals to be received on 
noncancellable operating leases as of December 31 are as follows:

                     1998                     $1,692,000
                     1999                        778,000
                     2000                         81,000
                                              __________
                                              $2,551,000
                                              ==========

5.  RELATED PARTY TRANSACTIONS

The General Partner receives 4% or 2% of gross rental payments from 
equipment under operating leases and full pay-out leases, 
respectively, for administrative and management services performed on 
behalf of the Fund.  Full pay-out leases are non-cancellable leases 
for which the rental payments due during the initial term of the lease 
are at least sufficient to recover the purchase price of the 
equipment, including acquisition fees.  This management fee is paid 
monthly only if and when the Limited Partners have received 
distributions for the period from the initial closing through the end 
of the most recent calendar quarter equal to a return for such period 
at a rate of 11% per year on the aggregate amount paid for their 
units.

The General Partner may also receive up to 3% of the proceeds from the 
sale of the Fund's equipment for services and activities to be 
performed in connection with the disposition of equipment.  The 
payment of this sales fee is deferred until the Limited Partners have 
received cash distributions equal to the purchase price of their units 
plus an 11% cumulative compounded priority return.  Based on current 
estimates, it is not expected that the Fund will be required to pay 
this sales fee to the General Partner.  As a result, $55,244 of sales 
fee accrued by the Fund in prior periods was recorded as part of the 
net gain (loss) on sale of equipment during the year ended December 
31, 1996.

Additionally, the General Partner and its parent company are 
reimbursed by the Fund for certain costs of services and materials 
used by or for the Fund except those items covered by the above-
mentioned fees.  Following is a summary of fees and costs of services 
and materials charged by the General Partner and its parent company 
during the years ended December 31:

                                    1997        1996          1995  
     Management fee               $ 81,039    $ 86,031      $ 93,347
     Reimbursable costs            124,149     149,847       186,512





                                    F-10


                    FIDELITY LEASING INCOME FUND VIII, L.P.

                   NOTES TO FINANCIAL STATEMENTS (Continued)

5.  RELATED PARTY TRANSACTIONS (Continued)

During 1997, the Fund maintained its checking and investment accounts 
in Jefferson Bank, a subsidiary of JeffBanks, Inc. in which the 
Chairman of Resource America, Inc. serves as a director.

Amounts due from related parties at December 31, 1997 and 1996 
represent monies due to the Fund from the General Partner and/or other 
affiliated funds for rentals and sales proceeds collected and not yet 
remitted to the Fund.

Amounts due to related parties at December 31, 1997 and 1996 represent 
monies due to the General Partner for the fees and costs mentioned 
above, as well as, rentals and sales proceeds collected by the Fund on 
behalf of other affiliated funds.

6.  MAJOR CUSTOMERS

For the year ended December 31, 1997, three customers accounted for
approximately 29%, 15% and 13% of the Fund's rental income.  For the 
year ended December 31, 1996, three customers accounted for 
approximately 17%, 14% and 12% of the Fund's rental income.  For the 
year ended December 31, 1995, one customer accounted for approximately 
27% and two customers generated approximately 13% each of the Fund's 
rental income.


7.  CASH DISTRIBUTIONS

Below is a summary of the cash distributions paid to partners during 
the years ended December 31:
<TABLE>
For the Quarter Ended           1997           1996          1995   
<CAPTION>
<S>                          <C>             <C>          <C>       
          March              $ 60,000        $ 65,000     $  322,139
          June                 80,000          60,000        316,542
          September            40,000          60,000        315,321
          December             60,000          40,000        151,689
                             ________       __________    __________

                             $240,000        $225,000     $1,105,691
                             ========       =========     ==========
</TABLE>

In addition, the General Partner declared and paid a cash distribution 
of $20,000 in both January and February 1998 for the months ended 
November 30 and December 31, 1997 to all admitted partners as of 
November 30 and December 31, 1997.





                                    F-11