TEXTAINER FINANCIAL SERVICES CORPORATION
                        650 California Street, 16th Floor
                             San Francisco, CA 94108



May 13, 2003

Securities and Exchange Commission
Washington, DC  20549

Ladies and Gentlemen:

Pursuant to the  requirements  of the  Securities  Exchange Act of 1934,  we are
submitting  herewith for filing on behalf of Textainer Equipment Income Fund IV,
L.P. (the "Partnership") the Partnership's Quarterly Report on Form 10-Q for the
First Quarter ended March 31, 2003.

This filing is being effected by direct  transmission to the Commission's  EDGAR
System.

Sincerely,

Nadine Forsman
Controller

<PAGE>

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                               Washington DC 20549



                                    FORM 10-Q



                 QUARTERLY REPORT UNDER SECTION 13 OR 15 (D) OF
                       THE SECURITIES EXCHANGE ACT OF 1934


                  For the quarterly period ended March 31, 2003


                         Commission file number 0-21228


                    TEXTAINER EQUIPMENT INCOME FUND IV, L.P.
                        A California Limited Partnership
             (Exact name of Registrant as specified in its charter)


                California                                      94-3147432
       (State or other jurisdiction                           (IRS Employer
    of incorporation or organization)                       Identification No.)

   650 California Street, 16th Floor
          San Francisco, CA                                       94108
(Address of Principal Executive Offices)                        (ZIP Code)

                                 (415) 434-0551
              (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 Exchange Act).

                                 Yes [ ] No [X]

<PAGE>
<TABLE>
<CAPTION>

TEXTAINER EQUIPMENT INCOME FUND IV, L.P.
(a California Limited Partnership)

Quarterly Report on Form 10-Q for the
Quarter Ended March 31, 2003

Table of Contents
-----------------------------------------------------------------------------------------------------------------



                                                                                                             Page

<S>                                                                                                          <C>
Item 1.   Financial Statements (unaudited)

          Balance Sheets - March 31, 2003
          and December 31, 2002.............................................................................    3


          Statements of Operations for the three months
          ended March 31, 2003 and 2002.....................................................................    4


          Statements of Partners' Capital for the three months
          ended March 31, 2003 and 2002.....................................................................    5


          Statements of Cash Flows for the three months
          ended March 31, 2003 and 2002.....................................................................    6


          Notes to Financial Statements ....................................................................    8


Item 2.   Management's Discussion and Analysis of Financial Condition
          and Results of Operations.........................................................................   14


Item 3.   Quantitative and Qualitative Disclosures about Market Risk........................................   21


Item 4.   Controls and Procedures...........................................................................   21

</TABLE>


<PAGE>
<TABLE>
<CAPTION>

TEXTAINER EQUIPMENT INCOME FUND IV, L.P.
(a California Limited Partnership)

Balance Sheets

March 31, 2003 and December 31, 2002
(Amounts in thousands)
(unaudited)
------------------------------------------------------------------------------------------------------------------

                                                                                2003                    2002
                                                                          ----------------        ----------------
<S>                                                                       <C>                     <C>
Assets
Container rental equipment, net of accumulated
   depreciation of $52,800 (2002:  $51,768) (note 4)                     $         40,491        $         41,630
Cash                                                                                2,623                   2,339
Accounts receivable, net of allowance for doubtful
   accounts of $135 (2002:  $164)                                                   3,144                   3,107
Due from affiliates, net (note 2)                                                     293                      84
Prepaid expenses                                                                       13                      40
                                                                          ----------------        ----------------

                                                                         $         46,564        $         47,200
                                                                          ================        ================

Liabilities and Partners' Capital
Liabilities:
   Accounts payable                                                      $            340        $            296
   Accrued liabilities                                                                380                     430
   Accrued damage protection plan costs                                               248                     246
   Warranty claims                                                                    216                     232
   Accrued recovery costs                                                             190                     184
   Deferred quarterly distributions                                                    85                      83
   Container purchases payable                                                      1,072                       -
                                                                          ----------------        ----------------

      Total liabilities                                                             2,531                   1,471
                                                                          ----------------        ----------------

Partners' capital:
   General partners                                                                     -                       -
   Limited partners                                                                44,033                  45,729
                                                                          ----------------        ----------------

      Total partners' capital                                                      44,033                  45,729
                                                                          ----------------        ----------------


                                                                         $         46,564        $         47,200
                                                                          ================        ================

See accompanying notes to financial statements

</TABLE>

<PAGE>
<TABLE>
<CAPTION>

TEXTAINER EQUIPMENT INCOME FUND IV, L.P.
(a California Limited Partnership)

Statements of Operations

For the three months ended March 31, 2003 and 2002
(Amounts in thousands except for unit and per unit amounts)
(unaudited)
---------------------------------------------------------------------------------------------------------

                                                                            2003               2002
                                                                       ---------------    ---------------
<S>                                                                  <C>                 <C>
Rental income                                                         $         3,406    $         2,642
                                                                       ---------------    ---------------

Costs and expenses:
   Direct container expenses                                                      728              1,046
   Bad debt expense                                                                11                  7
   Depreciation (note 4)                                                        1,937              1,550
   Write-down of containers (note 4)                                              135                934
   Professional fees                                                                8                 12
   Management fees to affiliates (note 2)                                         301                257
   General and administrative costs to affiliates (note 2)                        164                176
   Other general and administrative costs                                          33                 74
   (Gain) loss on sale of containers (note 4)                                     (53)               684
                                                                       ---------------    ---------------

                                                                                3,264              4,740
                                                                       ---------------    ---------------

  Income (loss) from operations                                                   142             (2,098)
                                                                       ---------------    ---------------

   Interest income                                                                  6                  9
                                                                       ---------------    ---------------

   Net income (loss)                                                  $           148    $        (2,089)
                                                                       ===============    ===============

Allocation of net income (loss) (note 2):
   General partners                                                   $            17    $            18
   Limited partners                                                               131             (2,107)
                                                                       ---------------    ---------------

                                                                      $           148    $        (2,089)
                                                                       ===============    ===============
Limited partners' per unit share
   of net income (loss)                                               $          0.02    $         (0.31)
                                                                       ===============    ===============

Limited partners' per unit share
   of distributions                                                   $          0.25    $          0.25
                                                                       ===============    ===============

Weighted average number of limited
   partnership units outstanding                                            6,513,955          6,708,666
                                                                       ===============    ===============

See accompanying notes to financial statements
</TABLE>

<PAGE>
<TABLE>
<CAPTION>

TEXTAINER EQUIPMENT INCOME FUND IV, L.P.
(a California Limited Partnership)

Statements of Partners' Capital

For the three months ended March 31, 2003 and 2002
(Amounts in thousands)
(unaudited)
-------------------------------------------------------------------------------------------------------------------------

                                                                                     Partners' Capital
                                                                 --------------------------------------------------------
                                                                     General               Limited             Total
                                                                 --------------        --------------      --------------
<S>                                                             <C>                   <C>              <C>

Balances at January 1, 2002                                     $            -        $       57,145      $       57,145

Distributions                                                              (18)               (1,678)             (1,696)

Redemptions (note 5)                                                         -                   (36)                (36)

Net earnings (loss)                                                         18                (2,107)             (2,089)
                                                                 --------------        --------------      --------------

Balances at March 31, 2002                                      $            -        $       53,324      $       53,324
                                                                 ==============        ==============      ==============

Balances at January 1, 2003                                     $            -        $       45,729      $       45,729

Distributions                                                              (17)               (1,631)             (1,648)

Redemptions (note 5)                                                         -                  (196)               (196)

Net earnings                                                                17                   131                 148
                                                                 --------------        --------------      --------------

Balances at March 31, 2003                                      $            -        $       44,033      $       44,033
                                                                 ==============        ==============      ==============



See accompanying notes to financial statements

</TABLE>


<PAGE>
<TABLE>
<CAPTION>

TEXTAINER EQUIPMENT INCOME FUND IV, L.P.
(a California Limited Partnership)

Statements of Cash Flows

For the three months ended March 31, 2003 and 2002
(Amounts in thousands)
(unaudited)
-------------------------------------------------------------------------------------------------------------------------

                                                                                           2003                2002
                                                                                     ----------------    ----------------
<S>                                                                                 <C>               <C>
Cash flows from operating activities:
   Net earnings (loss)                                                              $            148    $         (2,089)
   Adjustments to reconcile net earnings (loss) to
      net cash provided by operating activities:
       Depreciation (note 4)                                                                   1,937               1,550
       Write-down of containers (note 4)                                                         135                 934
       (Decrease) increase in allowance for doubtful accounts                                    (29)                 12
       (Gain) loss on sale of containers                                                         (53)                684
       (Increase) decrease in assets:
            Accounts receivable                                                                   (6)                359
            Due from affiliates, net                                                            (348)                206
            Prepaid expenses                                                                      27                   6
       (Decrease) increase in liabilities:
            Accounts payable and accrued liabilities                                              (6)                (21)
            Accrued recovery costs                                                                 6                 (33)
            Accrued damage protection plan costs                                                   2                  (6)
            Warranty claims                                                                      (16)                (16)
                                                                                     ----------------    ----------------


               Net cash provided by operating activities                                       1,797               1,586
                                                                                     ----------------    ----------------

Cash flows from investing activities:
   Proceeds from sale of containers                                                              467               1,193
   Container purchases                                                                          (139)                (27)
                                                                                     ----------------    ----------------

               Net cash provided by investing activities                                         328               1,166
                                                                                     ----------------    ----------------

Cash flows from financing activities:
   Redemptions of limited partnership units                                                     (196)                (36)
   Distributions to partners                                                                  (1,645)             (1,697)
                                                                                     ----------------    ----------------

               Net cash used in financing activities                                          (1,841)             (1,733)
                                                                                     ----------------    ----------------

Net increase in cash                                                                             284               1,019

Cash at beginning of period                                                                    2,339               1,841
                                                                                     ----------------    ----------------

Cash at end of period                                                               $          2,623    $          2,860
                                                                                     ================    ================



See accompanying notes to financial statements
</TABLE>


<PAGE>
<TABLE>
<CAPTION>


TEXTAINER EQUIPMENT INCOME FUND IV, L.P.
(a California Limited Partnership)

Statements Of Cash Flows--Continued

For the three months ended March 31, 2003 and 2002
(Amounts in thousands)
(unaudited)
--------------------------------------------------------------------------------

Supplemental Disclosures:

Supplemental schedule of non-cash investing and financing activities:

The following table summarizes the amounts of container purchases, distributions
to partners,  and proceeds  from sale of  containers  which had not been paid or
received  as of March  31,  2003 and  2002,  and  December  31,  2002 and  2001,
resulting in  differences  in amounts  recorded and amounts of cash disbursed or
received by the  Partnership,  as shown in the  Statements of Cash Flows for the
three-month periods ended March 31, 2003 and 2002.

                                                               Mar. 31        Dec. 31        Mar. 31        Dec. 31
                                                                2003           2002           2002           2001
                                                             -----------    -----------    -----------    -----------
<S>                                                         <C>              <C>            <C>             <C>
Container purchases included in:
     Due to affiliates..............................          $   60           $  -           $  -           $ 27
     Container purchases payable....................           1,072              -              -              -

Distributions to partners included in:
     Due to affiliates..............................               6              5              6              7
     Deferred quarterly distributions...............              85             83             81             81

Proceeds from sale of containers included in:
     Due from affiliates............................             240            318            733            767

The following table summarizes the amounts of container purchases, distributions
to partners and proceeds from sale of containers recorded by the Partnership and
the amounts  paid or received as shown in the  Statements  of Cash Flows for the
three-month periods ended March 31, 2003 and 2002.


                                                                                              2003           2002
                                                                                              ----           ----

Container purchases recorded....................................                            $1,271         $    -
Container purchases paid........................................                               139             27

Distributions to partners declared..............................                             1,648          1,696
Distributions to partners paid..................................                             1,645          1,697

Proceeds from sale of containers recorded.......................                               389          1,159
Proceeds from sale of containers received.......................                               467          1,193

The  Partnership  has  entered  into direct  finance  leases,  resulting  in the
transfer of containers from container rental  equipment to accounts  receivable.
The carrying  values of containers  transferred  during the three- month periods
ended March 31, 2003 and 2002 were $2 and $85, respectively.

See accompanying notes to financial statements
</TABLE>

<PAGE>

TEXTAINER EQUIPMENT INCOME FUND IV, L.P.
(a California Limited Partnership)

Notes To Financial Statements

For the three months ended March 31, 2003 and 2002
(Amounts in thousands except for unit and per unit amounts)
(unaudited)
--------------------------------------------------------------------------------

Note 1.   General

     Textainer  Equipment Income Fund IV, L.P. (the  Partnership),  a California
     limited  partnership  with a maximum life of 20 years,  was formed in 1991.
     The Partnership owns a fleet of intermodal marine cargo  containers,  which
     are leased to international shipping lines.

     The accompanying  interim  comparative  financial  statements have not been
     audited by an  independent  public  accountant.  However,  all  adjustments
     (which  were only  normal and  recurring  adjustments)  which  are,  in the
     opinion of management,  necessary to fairly present the financial  position
     of the  Partnership  as of March 31,  2003 and  December  31,  2002 and the
     results of its operations,  changes in partners' capital and cash flows for
     the three-month periods ended March 31, 2003 and 2002, have been made.

     The financial  information  presented  herein should be read in conjunction
     with the audited financial statements and other accompanying notes included
     in the Partnership's  annual audited financial statements as of and for the
     year ended December 31, 2002, in the Annual Report filed on Form 10-K.

     Certain estimates and assumptions were made by the Partnership's management
     that affect the reported  amounts of assets and liabilities and disclosures
     of  contingent  assets  and  liabilities  at  the  date  of  the  financial
     statements  and the  reported  amounts of revenue and  expenses  during the
     reporting period. The Partnership's  management  evaluates its estimates on
     an  on-going  basis,  including  those  related  to  the  container  rental
     equipment, accounts receivable and accruals.

     These  estimates  are based on historical  experience  and on various other
     assumptions that are believed to be reasonable under the circumstances, the
     results of which form the basis for making judgments regarding the carrying
     values of assets and  liabilities.  Actual  results could differ from those
     estimates under different assumptions or conditions.

     The Partnership's  management  believes the following  critical  accounting
     policies  affect its more  significant  judgments and estimates used in the
     preparation of its financial statements.

     The Partnership  maintains  allowances for doubtful  accounts for estimated
     losses  resulting  from  the  inability  of its  lessees  to make  required
     payments.  These allowances are based on management's current assessment of
     the financial  condition of the Partnership's  lessees and their ability to
     make  their  required   payments.   If  the  financial   condition  of  the
     Partnership's  lessees were to  deteriorate,  resulting in an impairment of
     their ability to make payments, additional allowances may be required.

     The Partnership depreciates its container rental equipment based on certain
     estimates related to the container's  useful life and salvage value.  These
     estimates  are based  upon  assumptions  about  future  demand  for  leased
     containers  and the  estimated  sales  price at the end of the  container's
     useful life. The  Partnership  will evaluate the estimated  residual values
     and remaining  estimated  useful lives on an on-going basis and will revise
     its estimates as needed. As a result, depreciation expense may fluctuate in
     future periods based on fluctuations in these estimates.

     Additionally,  the  recoverability of the recorded amounts of containers to
     be held for continued use and identified for sale in the ordinary course of
     business are evaluated to ensure that containers held for continued use are
     not  impaired  and that  containers  identified  for sale are  recorded  at
     amounts  that do not exceed  the  estimated  fair value of the  containers.
     Containers  to be held for continued  use are  considered  impaired and are
     written down to estimated fair value when the estimated future undiscounted
     cash flows are less than the recorded  values.  Containers  identified  for
     sale are  written  down to  estimated  fair value when the  recorded  value
     exceeds the estimated  fair value.  In  determining  the  estimated  future
     undiscounted cash flows and fair value of containers,  assumptions are made
     regarding future demand and market conditions for leased containers and the
     sales prices for used  containers.  If actual  market  conditions  are less
     favorable  than those  projected  or if actual  sales prices are lower than
     those estimated by the Partnership,  additional write-downs may be required
     and/or losses may be realized.

     In June 2002, the FASB issued SFAS No. 146 "Accounting for Costs Associated
     With  Exit or  Disposal  Activities".  SFAS  No.  146  addresses  financial
     accounting  and  reporting  for  costs  associated  with  exit or  disposal
     activities and nullifies  Emerging  Issues Task Force (EITF) Issue No. 94-3
     "Liability  Recognition for Certain Employee Termination Benefits and Other
     Costs  to  Exit  an  Activity   (including  Certain  Costs  Incurred  in  a
     Restructuring)."  This  Statement  requires  that  a  liability  for a cost
     associated  with  an exit or  disposal  activity  be  recognized  when  the
     liability is incurred.  The Partnership  adopted SFAS No. 146 on January 1,
     2003 and  there  was no  material  impact  on the  Partnership's  financial
     condition, operating results or cash flow.

Note 2.   Transactions with Affiliates

     Textainer  Financial  Services  Corporation  (TFS) is the managing  general
     partner of the Partnership.  TFS is a wholly-owned  subsidiary of Textainer
     Capital Corporation (TCC). Textainer Equipment Management Limited (TEM) and
     Textainer  Limited (TL) are associate  general partners of the Partnership.
     The  managing  general  partner  and the  associate  general  partners  are
     collectively  referred to as the General Partners and are commonly owned by
     Textainer Group Holdings  Limited (TGH).  The General  Partners also act in
     this capacity for other limited  partnerships.  The General Partners manage
     and control the affairs of the Partnership.

     In accordance with the Partnership  Agreement,  sections 3.08 through 3.12,
     net earnings or losses and distributions are generally  allocated 1% to the
     General  Partners and 99% to the Limited  Partners.  If the  allocation  of
     distributions  exceeds the allocation of net earnings and creates a deficit
     in a General Partner's capital account, the Partnership  Agreement provides
     for a special allocation of gross income equal to the amount of the deficit
     to be made to the General Partners.

     As part of the operation of the  Partnership,  the Partnership is to pay to
     the General  Partners an acquisition  fee, an equipment  management fee, an
     incentive management fee, and an equipment  liquidation fee. These fees are
     for various  services  provided in connection with the  administration  and
     management of the  Partnership.  During the three-month  period ended March
     31, 2003, the Partnership  capitalized $60 of acquisition  fees. There were
     no container  acquisition  fees capitalized  during the three-month  period
     ended March 31,  2002.  The  Partnership  incurred $64 and $71 of incentive
     management  fees during the  three-month  periods  ended March 31, 2003 and
     2002,  respectively.  There were no  equipment  liquidation  fees  incurred
     during these periods.

     The  Partnership's  container  fleet  is  managed  by TEM.  In its  role as
     manager,  TEM has  authority  to acquire,  hold,  manage,  lease,  sell and
     dispose of the  Partnership's  containers.  TEM holds,  for the  payment of
     direct operating  expenses,  a reserve of cash that has been collected from
     leasing  operations;  such cash is included in due from affiliates,  net at
     March 31, 2003 and December 31, 2002.

     Subject to certain reductions,  TEM receives a monthly equipment management
     fee equal to 7% of gross revenues  attributable to operating  leases and 2%
     of gross  revenues  attributable  to full  payout  net  leases.  These fees
     totaled $237 and $186 for the three-month  periods ended March 31, 2003 and
     2002, respectively.

     Certain  indirect  general  and  administrative  costs  such  as  salaries,
     employee   benefits,   taxes  and  insurance  are  incurred  in  performing
     administrative  services  necessary to the  operation  of the  Partnership.
     These  costs  are   incurred   and  paid  by  TFS  and  TEM.   General  and
     administrative  costs allocated to the  Partnership  during the three-month
     periods ended March 31, 2003 and 2002 were as follows:

                                                       2003         2002
                                                       ----         ----

               Salaries                                $ 88         $ 96
               Other                                     76           80
                                                        ---          ---
                 Total general and
                    administrative costs               $164         $176
                                                        ===          ===

     TEM allocates these general and administrative  costs based on the ratio of
     the Partnership's interest in the managed containers to the total container
     fleet managed by TEM during the period.  TFS  allocates  these costs either
     based on the ratio of the  Partnership's  investors  to the total number of
     investors of all limited  partnerships  managed by TFS or equally among all
     the limited partnerships managed by TFS. The General Partners allocated the
     following general and  administrative  costs to the Partnership  during the
     three-month periods ended March 31, 2003 and 2002:

                                                       2003         2002
                                                       ----         ----

               TEM                                     $143         $149
               TFS                                       21           27
                                                        ---          ---
                 Total general and
                    administrative costs               $164         $176
                                                        ===          ===

     The  General  Partners  may acquire  containers  in their own name and hold
     title on a temporary basis for the purpose of facilitating  the acquisition
     of such containers for the  Partnership.  The containers may then be resold
     to the  Partnership  on an  all-cash  basis at a price  equal to the actual
     cost, as defined in the Partnership Agreement. One or more General Partners
     may also arrange for the purchase of containers in its or their names,  and
     the  Partnership may then take title to the containers by paying the seller
     directly. In addition,  the General Partners are entitled to an acquisition
     fee  for  containers  acquired  by  the  Partnership  under  any  of  these
     arrangements.


     At March 31, 2003 and  December  31,  2002,  due from  affiliates,  net was
     comprised of:

                                                             2003        2002
                                                             ----        ----
           Due from affiliates:
                    Due from TEM......................       $374        $174
                                                              ---         ---

           Due to affiliates:
                    Due to TFS........................         62          71
                    Due to TCC........................         18          18
                    Due to TL.........................          1           1
                                                              ---         ---
                                                               81          90
                                                              ---         ---

               Due from affiliates, net                      $293        $ 84
                                                              ===         ===

     These amounts  receivable  from and payable to affiliates  were incurred in
     the ordinary course of business  between the Partnership and its affiliates
     and represent timing differences in the accrual and remittance of expenses,
     fees and distributions described above and in the accrual and remittance of
     net rental revenues and container sales proceeds from TEM.

Note 3.  Lease Rental Income

     Leasing income arises principally from the renting of containers to various
     international  shipping lines. Revenue is recorded when earned according to
     the terms of the container rental contracts.  These contracts are typically
     for  terms of five  years or less.  The  following  is the lease mix of the
     on-lease containers (in units) at March 31, 2003 and 2002:

                                                             2003        2002
                                                             ----        ----

              On-lease under master leases                 16,050      11,119
              On-lease under long-term leases               6,899       5,078
                                                           ------      ------

                  Total on-lease containers                22,949      16,197
                                                           ======      ======

     Under  master  lease  agreements,  the lessee is not  committed  to lease a
     minimum number of containers from the Partnership during the lease term and
     may generally  return any portion or all the containers to the  Partnership
     at any time, subject to certain restrictions in the lease agreement.  Under
     long-term  lease  agreements,   containers  are  usually  leased  from  the
     Partnership  for periods of between  three to five  years.  Such leases are
     generally cancelable with a penalty at the end of each twelve-month period.
     Under direct  finance  leases,  the  containers are usually leased from the
     Partnership  for  the  remainder  of the  container's  useful  life  with a
     purchase option at the end of the lease term.

     The remaining  containers are off-lease and are being stored primarily at a
     large  number  of  storage  depots.   At  March  31,  2003  and  2002,  the
     Partnership's off lease containers were located in the following locations:


                                                    2003             2002
                                                    ----             ----

          Americas                                 2,604            3,230
          Europe                                   1,195            1,857
          Asia                                     1,457            8,435
          Other                                      150              192
                                                   -----           ------

              Total off-lease containers           5,406           13,714
                                                   =====           ======

     At  March  31,  2003  approximately  5%  of  the  Partnership's   off-lease
     containers had been specifically  identified as for sale and are carried at
     lower of cost or estimated disposal proceeds.

Note 4.  Container Rental Equipment

     Effective July 1, 2002, the Partnership  revised its estimate for container
     salvage  value from a percentage of equipment  cost to an estimated  dollar
     residual value. The effect of this change for the three-month  period ended
     March  31,  2003 was an  increase  to  depreciation  expense  of $572.  The
     Partnership  will  evaluate the  estimated  residual  values and  remaining
     estimated  useful lives on an on-going  basis and will revise its estimates
     as  needed.  As a result,  depreciation  expense  may  fluctuate  in future
     periods based on fluctuations in these estimates.

     New  container  prices  steadily  declined  from 1995 through 1999 and have
     remained low through the  beginning of 2003.  As a result,  the cost of new
     containers purchased in recent years is significantly less than the average
     cost of containers purchased in prior years. The Partnership  evaluated the
     recoverability  of the  recorded  amount of container  rental  equipment at
     March 31, 2003 and 2002 for  containers  to be held for  continued  use and
     determined  that a reduction to the carrying value of these  containers was
     not required.  The  Partnership  also evaluated the  recoverability  of the
     recorded amount of containers identified for sale in the ordinary course of
     business and  determined  that a reduction to the carrying value of some of
     these  containers  was required.  The  Partnership  wrote down the value of
     these containers to their estimated net realizable  value,  which was based
     on recent sales prices less cost to sell.  During the  three-month  periods
     ended March 31, 2003 and 2002, the Partnership recorded write-down expenses
     of $135 and $934,  respectively,  on 182 and 1,069 containers identified as
     for sale and requiring a reserve.  At March 31, 2003 and 2002, the net book
     value of the 281 and 1,295  containers  identified as for sale was $256 and
     $1,053, respectively.

     The Partnership  sold 139 previously  written down containers for a loss of
     $9  during  the  three-month  period  ended  March  31,  2003  and sold 630
     previously written down containers for a loss of $57 during the same period
     in 2002. The  Partnership  incurred  losses on the sale of some  containers
     previously  written  down as the  actual  sales  prices  received  on these
     containers were lower than the estimates used for the write-downs.

     The  Partnership  also sold  containers  that had not been written down and
     recorded a gain of $62 and a loss of $627  during the  three-month  periods
     ended March 31, 2003 and 2002, respectively.

     As more containers are subsequently  identified as for sale or if container
     sales prices  continue to decline,  the  Partnership  may incur  additional
     write-downs  on  containers   and/or  may  incur  losses  on  the  sale  of
     containers. The Partnership will continue to evaluate the recoverability of
     the recorded amounts of container rental equipment.
<TABLE>
<CAPTION>

Note 5.   Redemptions

     The following  redemptions were  consummated by the Partnership  during the
     three-month periods ended March 31, 2003 and 2002:

                                                           Units                Average
                                                          Redeemed          Redemption Price            Amount Paid
                                                          --------          ----------------           ------------
<S>                                                        <C>                  <C>                     <C>

     Total  Partnership  redemptions as of
      December 31, 2001.................                  131,937                  $9.89                  $1,305

     Three-month period ended:
      March 31, 2002....................                    5,300                  $6.79                      36
                                                          -------                                          -----

     Total Partnership redemptions as of
      March 31, 2002....................                  137,237                  $9.77                  $1,341
                                                          =======                                          =====


     Total  Partnership  redemptions as of
      December 31, 2002.................                  295,555                  $7.33                  $2,165

     Three-month period ended:
      March 31, 2003....................                   36,393                  $5.39                     196
                                                          -------                                          -----

     Total Partnership redemptions as of
      March 31, 2003....................                  331,948                  $7.11                  $2,361
                                                          =======                                          =====


     The redemption price is fixed by formula in accordance with the Partnership
     Agreement.



</TABLE>

<PAGE>

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

(Amounts in thousands except for unit and per unit amounts)
--------------------------------------------------------------------------------

The Financial Statements contain information which will assist in evaluating the
financial  condition of the Partnership for the three-month  periods ended March
31, 2003 and 2002. Please refer to the Financial Statements and Notes thereto in
connection with the following discussion.

Textainer  Financial Services  Corporation (TFS) is the Managing General Partner
of the  Partnership  and  is a  wholly-owned  subsidiary  of  Textainer  Capital
Corporation (TCC).  Textainer  Equipment  Management Limited (TEM) and Textainer
Limited (TL) are  Associate  General  Partners of the  Partnership.  The General
Partners manage and control the affairs of the Partnership.

Liquidity and Capital Resources

From  May 1,  1992  until  April  30,  1994,  the  Partnership  offered  limited
partnership  interests  to the  public.  The  Partnership  received  its minimum
subscription  amount  of  $5,000  on June 11,  1992 and on  April  30,  1994 the
Partnership had received a total subscription amount of $136,918.

The Partnership invests working capital,  cash flow from operations prior to its
distribution  to the partners and proceeds  from  container  sales that have not
been used to purchase  containers  in  short-term,  liquid  investments.  Rental
income is the  Partnership's  principal source of liquidity and provides a major
source  of  funds  for  distributions.  Rental  income  is  affected  by  market
conditions for leased containers.  Market conditions are discussed more fully in
"Results of Operations." The Partnership's  cash is affected by cash provided by
or used in operating,  investing and financing activities.  These activities are
discussed in detail below.

Limited partners are currently receiving monthly  distributions in an annualized
amount equal to 5% of their original  investment.  During the three-month period
ended March 31, 2003, the  Partnership  declared cash  distributions  to limited
partners  pertaining to the period from  December 2002 through  February 2003 in
the amount of $1,631.  On a cash basis,  as reflected on the  Statements of Cash
Flows,  after paying  redemptions and general partner  distributions,  $1,584 of
these  distributions  was from current year  operating  activities and $47 was a
return of capital.  On an accrual  basis,  as  reflected  on the  Statements  of
Partners' Capital, all of these distributions were a return of capital.

From time to time,  the  Partnership  redeems units from limited  partners for a
specified  redemption  value,  which  is  set  by  formula.  Up  to  2%  of  the
Partnership's outstanding units may be redeemed each year, although the 2% limit
may be exceeded at the Managing General  Partner's  discretion.  All redemptions
are subject to the Managing  General  Partner's  good faith  determination  that
payment for the redeemed units will not (i) cause the Partnership to be taxed as
a  corporation,  (ii) impair the capital or  operations of the  Partnership,  or
(iii) impair the ability of the Partnership to pay  distributions  in accordance
with its  distribution  policy.  During the  three-month  period ended March 31,
2003, the  Partnership  redeemed 36,393 units for a total dollar amount of $196.
The Partnership used cash flow from operations to pay for the redeemed units.

Net cash  provided by operating  activities  for the  three-month  periods ended
March 31, 2003 and 2002 was $1,797 and  $1,586,  respectively.  The  increase of
$211, or 13%, was primarily  attributable  to the  fluctuations  in net earnings
(loss),  adjusted for non-cash  transactions,  offset by the fluctuations in due
from affiliates,  net and accounts receivable. Net earnings (loss), adjusted for
non-cash transactions, fluctuated primarily due to the increase in rental income
and the decrease in direct container expenses.  These fluctuations are discussed
more fully in "Results of Operations."  The fluctuations in due from affiliates,
net,  resulted  from timing  differences  in the payment of  expenses,  fees and
distributions  and the  remittance of net rental  revenues and  container  sales
proceeds,  as well as fluctuations in these amounts.  Gross accounts  receivable
increased $6 during the three-month period ended March 31, 2003. The decrease in
gross accounts  receivable of $359 during the three-month period ended March 31,
2002 was primarily due to the decrease in rental income,  offset by the increase
in the average collection period of accounts receivable.

At March 31, 2003, the Partnership had no commitments to purchase containers.

For the  three-month  period ended March 31, 2003 and 2002, net cash provided by
investing  activities (the purchase and sale of containers) was $328 and $1,166,
respectively.  The  decrease of $838 was due to the  decrease  in proceeds  from
container sales and the increase in cash used for container purchases. Cash used
for  container  purchases  increased  primarily  as  the  Partnership  purchased
containers  during the  three-month  period ended March 31, 2003,  whereas there
were no such purchases  during the same period in 2002.  Proceeds from container
sales decreased primarily due to the Partnership selling fewer containers during
the  three-month  period  ended  March 31, 2003 than in the same period in 2002.
This  decrease was  partially  offset by the increase in the average sales price
received on container sales.  Although average  container sales prices increased
between the periods  for the  Partnership,  in  general,  average  sales  prices
received on container sales for other  Partnerships  managed by TCC continued to
decrease as a result of current market conditions, which have adversely affected
the value of used  containers.  Until market  conditions  improve in certain low
demand  locations,  the  Partnership  plans  to  continue  selling  some  of its
containers  that are  off-lease in these  locations  rather than  incurring  the
expense of repositioning them. The number of containers sold, both in low demand
locations and  elsewhere,  as well as the average  sales price,  will affect how
much the Partnership can reinvest in new containers.

Consistent  with its  investment  objectives  and  subject  to its  distribution
policy,  the  Partnership  intends  to  continue  to  reinvest  both  cash  from
operations  available for reinvestment and all, or a significant  amount of, the
proceeds from container sales in additional containers. Reinvestment is expected
to  continue  until the  Partnership  begins  its  liquidation  phase,  which is
estimated to begin in 2004. Cash from operations  available for  reinvestment is
generally equal to cash provided by operating activities, less distributions and
redemptions  paid, which are subject to the General  Partners'  authority to set
these  amounts  (and modify  reserves and working  capital),  as provided in the
Partnership  Agreement.  During the years ended December 31, 2002 and 2001 there
was no cash from operations available to reinvest in additional containers.  The
amount of sales proceeds will fluctuate  based on the number of containers  sold
and the sales  price  received.  The  Partnership  sells  containers  when (i) a
container reaches the end of its useful life or (ii) an analysis  indicates that
the sale is warranted  based on existing  market  conditions and the container's
age, location and condition.

Both cash from  operations  available for  reinvestment  and sales proceeds have
been  adversely  affected by market  conditions.  These market  conditions  have
resulted in a slower than anticipated rate of  reinvestment.  Market  conditions
are  discussed  more fully  under  "Results  of  Operations."  A slower  rate of
reinvestment  will, over time,  affect the size of the  Partnership's  container
fleet. Furthermore, even with reinvestment,  the Partnership is not likely to be
able to replace all the  containers  it sells,  since new  container  prices are
usually  higher  than the  average  sales  price for a used  container,  and the
majority of cash available for reinvestment is from sales proceeds.

Results of Operations

The  Partnership's  income from operations,  which consists  primarily of rental
income  less  costs  and  expenses  (including  container  depreciation,  direct
container  expenses,   management  fees,  and  reimbursement  of  administrative
expenses)  was directly  related to the size of the  container  fleet during the
three-month  periods  ended  March 31, 2003 and 2002,  as well as certain  other
factors as discussed  below.  The following is a summary of the container  fleet
(in units) available for lease during those periods:

                                                      2003              2002
                                                      ----              ----

         Beginning container fleet...............    28,024            31,411
         Ending container fleet..................    28,355            29,911
         Average container fleet.................    28,190            30,661

The average container fleet decreased 8% from the three-month period ended March
31, 2002 to the comparable period in 2003, primarily due to sales of containers.
Although  sales  proceeds  were used to purchase  additional  containers,  fewer
containers  were bought than sold as used container sales prices were lower than
new container prices.  The  Partnership's  primary source of funds for container
purchases is these sales proceeds. The rate of decline in average fleet size may
fluctuate due to timing  differences  in the purchase and sale of containers and
fluctuations in container sale and purchase prices during each period.

As noted above,  when  containers are sold,  sales proceeds are not likely to be
sufficient to replace all of the  containers  sold,  resulting in the continuing
decline in the average  container  fleet.  This trend is  expected to  continue.
Other  factors  related  to this trend are  discussed  above in  "Liquidity  and
Capital Resources".

Rental income and direct container expenses are also affected by the utilization
of the container fleet,  which was 81% and 51% on average during the three-month
periods ended March 31, 2003 and 2002,  respectively.  The  remaining  container
fleet is off-lease  and is being  stored  primarily at a large number of storage
depots. At March 31, 2003 and 2002,  utilization was 81% and 54%,  respectively,
and the  Partnership's  off-lease  containers  (in  units)  were  located in the
following locations:

                                                    2003             2002
                                                    ----             ----

          Americas                                 2,604            3,230
          Europe                                   1,195            1,857
          Asia                                     1,457            8,435
          Other                                      150              192
                                                   -----           ------

              Total off-lease containers           5,406           13,714
                                                   =====           ======

At March 31, 2003 approximately 5% of the Partnership's off-lease containers had
been specifically identified as for sale.
<PAGE>

In addition to utilization, rental income is affected by daily rental rates. The
average daily rental rate decreased 11% between the periods. The decrease in the
average  rental  rate was due to  declines  in both  master  and long term lease
rates,  which  are the two  principal  types  of  leases  for the  Partnership's
containers.  The majority of the Partnership's  rental income was generated from
leasing of the Partnership's  containers under master operating  leases,  but in
the past several years an increasing percentage of the Partnership's  containers
have been on lease under long term leases.  At March 31, 2003 and 2002,  30% and
31%, respectively,  of the Partnership's on-lease containers were on lease under
long term leases. Long term leases generally have lower rental rates than master
leases  because the lessees have  contracted to lease the containers for several
years and cannot return the containers  prior to the termination  date without a
penalty.  Fluctuations in rental rates under either type of lease generally will
affect the Partnership's operating results.

The  following is a comparative  analysis of the results of  operations  for the
three-month periods ended March 31, 2003 and 2002.

The  Partnership's  income (loss) from  operations for the  three-month  periods
ended March 31,  2003 and 2002 was $142 and  $(2,098),  respectively,  on rental
income of $3,406 and $2,642,  respectively.  The  increase  in rental  income of
$764, or 29%, from the three-month period ended March 31, 2002 to the comparable
period in 2003 was  attributable  to increases in  container  rental  income and
other rental income,  which is discussed below.  Income from container  rentals,
the major component of total revenue,  increased $652, or 30%,  primarily due to
an increase in the average  on-hire  utilization of 59%, offset by a decrease in
average  rental  rates of 11% and  average  container  fleet of 8%  between  the
periods.

Beginning  in March 2002,  utilization  began to improve and  improved  steadily
through the end of 2002 due to:

o    An increase in export cargo out of Asia
o    Prior repositioning of containers to Asia which placed  large quantities of
     containers in areas of high demand
o    Disposal of older containers and fewer  purchases of new containers by both
     container lessors  and  shipping lines  in  2001  and 2002, resulting in an
     overall better-balanced supply of containers
o    The labor disagreement that affected U.S. West Coast ports in the third and
     part of the  fourth quarter  had short-term  positive effects on demand for
     containers as shipping lines were not able to reposition enough  containers
     to Asia and  had to lease  more containers to meet their customers' demands

Utilization   declined   slightly  in  the  first  quarter  of  2003,  which  is
traditionally  a slow period for  container  demand.  Rental rates also declined
slightly  primarily due to low new container prices,  low interest rates and low
rates offered by  competitors.  The General  Partners are cautiously  optimistic
that current  utilization  levels can be maintained or improved  during the next
several months.  However,  the General Partners  caution that market  conditions
could deteriorate again due to global economic and political conditions.  Demand
for leased  containers  could therefore weaken again and result in a decrease in
utilization  and  further  declines in lease rates and  container  sale  prices,
adversely affecting the Partnership's operating results.

Despite  the  improvement  in  utilization  since early  2002,  the  Partnership
continues to sell (rather than reposition) some older containers  located in low
demand locations.  For the number of off-lease  containers  located in the lower
demand  locations in the Americas and Europe,  see chart above.  The decision to
sell containers is based on the current expectation that the economic benefit of
selling  these  containers  is greater than the  estimated  economic  benefit of
continuing  to own these  containers.  The majority of the  containers  sold are
older containers. The expected economic benefit of continuing to own these older
containers is significantly  less than that of newer containers.  This is due to
their  shorter  remaining  marine life,  the cost to  reposition  them,  and the
shipping lines' preference for leasing newer containers when they have a choice.

Once the decision was made to sell  containers,  the Partnership  wrote down the
value of these  specifically  identified  containers when the carrying value was
greater than the container's  estimated net realizable value, which was based on
recent  sales  prices  less  cost of  sales.  The  sale of these  containers  is
discussed in more detail below.

Other rental income consists of other lease-related items, primarily income from
charges to lessees for dropping off containers in surplus locations less credits
granted to lessees for  leasing  containers  from  surplus  locations  (location
income),  income  from  charges to lessees for  handling  related to leasing and
returning  containers (handling income) and income from charges to lessees for a
Damage  Protection Plan (DPP). For the three-month  period ended March 31, 2003,
other rental income was $557, an increase of $112 from the equivalent  period in
2002.  The increase was primarily due to increases in location and DPP income of
$44 and $41. Location income increased  primarily due to the increase in charges
to one lessee who required  containers  to be  delivered to specific  locations,
offset by the  decrease in charges to lessees for  dropping  off  containers  in
certain  locations.  DPP income  increased  primarily  due to an increase in the
number of containers covered under DPP.

Direct container  expenses  decreased $318, or 30%, from the three-month  period
ended March 31, 2002, to the same period in 2003. The decrease was primarily due
to a decrease in storage expense of $516, offset by an increase in repositioning
expense of $183.  Storage  expense  decreased due to the increase in utilization
noted  above  and the  decrease  in the  average  storage  cost  per  container.
Repositioning  expense increased due to an increase in the average repositioning
costs  due to (i)  expensive  repositioning  moves  related  to one  lessee  who
required  containers to be delivered to certain locations as discussed above and
(ii) longer, more expensive average repositioning moves.

Bad debt expense was $11 and $7 for the three-month periods ended March 31, 2003
and 2002,  respectively.  Fluctuations  in bad debt expense reflect the required
adjustment  to the bad debt reserve and are based on  management's  then current
estimates of the portion of accounts  receivable that may not be collected,  and
which will not be covered by insurance.  These  estimates are based primarily on
management's  current assessment of the financial condition of the Partnership's
lessees and their ability to make their required payments. The expenses recorded
during  the  three-month  periods  ended  March 31,  2002 and 2003  reflect  the
additions to bad debt  allowance,  after  deductions  had been taken against the
reserve.

Depreciation  expense increased $387, or 25%, from the three-month  period ended
March 31, 2002 to the comparable period in 2003, primarily due to an increase in
the  depreciation  rate as a result of changes in  estimated  salvage  values as
discussed below, offset by the decrease in average fleet size noted above.

Effective  July 1, 2002,  the  Partnership  revised its estimate  for  container
salvage  value  from a  percentage  of  equipment  cost to an  estimated  dollar
residual value. The effect of this change for the three-month period ended March
31, 2003 was an increase to depreciation  expense of $572. The Partnership  will
evaluate the estimated  residual values and remaining  estimated useful lives on
an  on-going  basis  and will  revise  its  estimates  as  needed.  As a result,
depreciation  expense may fluctuate in future periods based on  fluctuations  in
these estimates.

New container prices steadily  declined from 1995 through 1999 and have remained
low through  the  beginning  of 2003.  As a result,  the cost of new  containers
purchased  in  recent  years is  significantly  less  than the  average  cost of
containers   purchased   in  prior  years.   The   Partnership   evaluated   the
recoverability of the recorded amount of container rental equipment at March 31,
2003 and 2002 for containers to be held for continued use and determined  that a
reduction  to the  carrying  value of these  containers  was not  required.  The
Partnership  also  evaluated  the  recoverability  of  the  recorded  amount  of
containers identified for sale in the ordinary course of business and determined
that a reduction to the carrying value of some of these containers was required.
The Partnership  wrote down the value of these containers to their estimated net
realizable value,  which was based on recent sales prices less cost to sell. The
containers  written down  included  those  located in low demand  locations  and
identified for sale as discussed  above.  During the  three-month  periods ended
March 31, 2003 and 2002, the Partnership  recorded  write-down  expenses of $135
and $934,  respectively,  on 182 and 1,069 containers identified as for sale and
requiring a reserve.  At March 31, 2003 and 2002,  the net book value of the 281
and 1,295 containers identified as for sale was $256 and $1,053, respectively.

The  Partnership  sold 139 previously  written down  containers for a loss of $9
during the  three-month  period  ended  March 31,  2003 and sold 630  previously
written down  containers  for a loss of $57 during the same period in 2002.  The
Partnership  incurred losses on the sale of some containers  previously  written
down as the actual sales prices received on these containers were lower than the
estimates used for the write-downs.

The Partnership also sold containers that had not been written down and recorded
a gain of $62 and a loss of $627 during the three-month  periods ended March 31,
2003 and 2002, respectively.

As more containers are subsequently identified as for sale or if container sales
prices continue to decline, the Partnership may incur additional  write-downs on
containers  and/or may incur losses on the sale of containers.  The  Partnership
will  continue  to  evaluate  the  recoverability  of the  recorded  amounts  of
container rental equipment.

Management fees to affiliates increased $44, or 17%, from the three-month period
ended  March 31,  2002 to the  comparable  period in 2003 due to an  increase in
equipment  management fees,  offset by a decrease in incentive  management fees.
Equipment  management fees increased due to the increase in rental income,  upon
which these fees are primarily based. These fees were approximately 7% of rental
income for these periods.  Incentive management fees, decreased primarily due to
(i) the decrease in the amount of  distributions  paid from cash from operations
and (ii) decreases in partners'  capital due to redemptions of limited  partners
units.

General and  administrative  costs to affiliates  decreased $12, or 7%, from the
three-month  period  ended  March  31,  2002 to the same  period  in 2003 due to
decreases in the  allocation of overhead  costs from TEM and TCC. The allocation
of overhead  costs from TEM decreased as the  Partnership  represented a smaller
portion of the total fleet  managed by TEM. The  allocation of overhead from TCC
decreased  primarily due to the decrease in total  overhead  costs  incurred and
allocated by TCC.

The  Partnership  Agreement  provides  for the  ongoing  payment to the  General
Partners of the management fees and the reimbursement of the expenses  discussed
above.  Since these fees and expenses are  established  by the  Agreement,  they
cannot be considered the result of arms' length negotiations with third parties.
The Partnership Agreement was formulated at the Partnership's  inception and was
part of the terms  upon which the  Partnership  solicited  investments  from its
limited partners. The business purpose of paying the General Partners these fees
is to  compensate  the  General  Partners  for the  services  they render to the
Partnership.  Reimbursement  for  expenses  is made to offset  some of the costs
incurred by the General  Partners in managing the  Partnership and its container
fleet.  More details about these fees and expenses are included in footnote 2 to
the Financial Statements.

Other general and administrative costs decreased $41 from the three-month period
ended March 31, 2002 to the same period in 2003.  The decrease was primarily due
to decreases in other service fees between the periods.

Gain/loss on sale of containers  fluctuated from a loss of $684 to a gain of $53
from the three-month period ended March 31, 2002 to the same period in 2003. The
fluctuation was primarily due to the Partnership  selling  containers with lower
average net book values at higher  average sales prices  during the  three-month
period ended March 31, 2003, than the same period in 2002.

Net earnings  (loss) per limited  partnership  unit  fluctuated  from $(0.31) to
$0.02 from the three-month  period ended March 31, 2002 to the equivalent period
in  2003,  respectively,  reflecting  the  fluctuation  in net  earnings  (loss)
allocated  to  limited  partners  from  ($2,107)  to  $131,  respectively.   The
allocation of net earnings  (loss) for the  three-month  periods ended March 31,
2003 and 2002,  included  special  allocations  of gross  income to the  General
Partners  of $16 and $39,  respectively,  in  accordance  with  the  Partnership
Agreement.

Critical Accounting Policies and Estimates

The Partnership's discussion and analysis of its financial condition and results
of operations are based upon the Partnership's financial statements,  which have
been prepared in accordance with accounting principles generally accepted in the
United States of America.  Certain  estimates and  assumptions  were made by the
Partnership's  management  that  affect  the  reported  amounts  of  assets  and
liabilities and disclosures of contingent  assets and liabilities at the date of
the financial statements and the reported amounts of revenue and expenses during
the reporting period. The Partnership's management evaluates its estimates on an
on-going  basis,  including  those  related to the container  rental  equipment,
accounts receivable and accruals.

These  estimates  are  based  on  historical  experience  and on  various  other
assumptions  that are believed to be  reasonable  under the  circumstances,  the
results of which  form the basis for making  judgments  regarding  the  carrying
values of assets  and  liabilities.  Actual  results  could  differ  from  those
estimates under different assumptions or conditions.

The Partnership's management believes the following critical accounting policies
affect its more  significant  judgments and estimates used in the preparation of
its financial statements.

The Partnership  maintains allowances for doubtful accounts for estimated losses
resulting  from the  inability of its lessees to make required  payments.  These
allowances  are  based  on  management's  current  assessment  of the  financial
condition of the Partnership's  lessees and their ability to make their required
payments.  If the  financial  condition  of the  Partnership's  lessees  were to
deteriorate,  resulting  in an  impairment  of their  ability to make  payments,
additional  allowances  may  be  required,  which  would  adversely  affect  the
Partnership's operating results.

The  Partnership  depreciates  its container  rental  equipment based on certain
estimates  related to the  container's  useful  life and  salvage  value.  These
estimates are based upon assumptions  about future demand for leased  containers
and the  estimated  sales  price  at the  end of the  container's  useful  life.
Effective  July 1, 2002,  the  Partnership  revised its estimate  for  container
salvage  value  from a  percentage  of  equipment  cost to an  estimated  dollar
residual value. The Partnership will evaluate the estimated  residual values and
remaining  estimated  useful  lives on an  on-going  basis and will  revise  its
estimates as needed. As a result,  depreciation  expense may fluctuate in future
periods based on fluctuations  in these  estimates.  If the estimates  regarding
residual  value and  remaining  useful life of the  containers  were to decline,
depreciation  expense would  increase,  adversely  affecting  the  Partnership's
operating results.

Additionally,  the  recoverability  of the recorded  amounts of containers to be
held for  continued  use and  identified  for  sale in the  ordinary  course  of
business are evaluated to ensure that  containers held for continued use are not
impaired and that containers identified for sale are recorded at amounts that do
not exceed the estimated fair value of the containers. Containers to be held for
continued  use are  considered  impaired and are written down to estimated  fair
value  when the  estimated  future  undiscounted  cash  flows  are less than the
recorded  values.  Containers  identified for sale are written down to estimated
fair  value when the  recorded  value  exceeds  the  estimated  fair  value.  In
determining  the  estimated  future  undiscounted  cash  flows and fair value of
containers,  assumptions are made regarding future demand and market  conditions
for leased containers and the sales prices for used containers. If actual market
conditions are less favorable than those projected or if actual sales prices are
lower than those  estimated by the  Partnership,  additional  write-downs may be
required  and/or losses may be realized.  Any  additional  write-downs or losses
would adversely affect the Partnership's operating results.
<PAGE>
Risk Factors and Forward Looking Statements

Although  substantially  all of the  Partnership's  income  from  operations  is
derived from assets employed in foreign operations, virtually all of this income
is  denominated  in United  States  dollars.  The  Partnership's  customers  are
international  shipping  lines,  which transport  goods on  international  trade
routes.  The  domicile  of the lessee is not  indicative  of where the lessee is
transporting  the  containers.  The  Partnership's  business risk in its foreign
operations lies with the  creditworthiness of the lessees, and the Partnership's
ability to keep its containers under lease,  rather than the geographic location
of the  containers or the domicile of the lessees.  The containers are generally
operated on the international high seas rather than on domestic  waterways.  The
containers are subject to the risk of war or other political, economic or social
occurrence  where  the  containers  are used,  which  may  result in the loss of
containers,  which,  in turn,  may have a material  impact on the  Partnership's
results of operations and financial condition.

Other risks of the Partnership's  leasing  operations include  competition,  the
cost of  repositioning  containers  after  they come  off-lease,  the risk of an
uninsured loss, including bad debts,  increases in maintenance expenses or other
costs of  operating  the  containers,  and the effect of world  trade,  industry
trends  and/or  general  business  and  economic  cycles  on  the  Partnership's
operations. See "Risk Factors" in the Partnership's Prospectus, as supplemented,
for additional information on risks of the Partnership's business. See "Critical
Accounting  Policies and Estimates"  above for information on the  Partnership's
critical  accounting policies and how changes in those estimates could adversely
affect the Partnership's results of operations.

The foregoing includes forward-looking statements and predictions about possible
or  future  events,  results  of  operations  and  financial  condition.   These
statements  and  predictions  may  prove  to  be  inaccurate,   because  of  the
assumptions  made by the  Partnership  or the  General  Partners  or the  actual
development  of  future  events.  No  assurance  can be given  that any of these
forward-looking statements or predictions will ultimately prove to be correct or
even substantially correct. The risks and uncertainties in these forward-looking
statements  include,  but are not  limited  to,  changes  in demand  for  leased
containers,  changes in global  business  conditions  and their  effect on world
trade,  future  modifications  in the way in  which  the  Partnership's  lessees
conduct their business or of the  profitability of their business,  increases or
decreases in new container  prices or the  availability  of financing  therefor,
alterations in the costs of maintaining and repairing used containers, increases
in competition,  changes in the Partnership's  ability to maintain insurance for
its  containers  and its  operations,  the effects of  political  conditions  on
worldwide  shipping and demand for global trade or of other general business and
economic cycles on the  Partnership,  as well as other risks detailed herein and
from time to time in the Partnership's  filings with the Securities and Exchange
Commission.  The  Partnership  does  not  undertake  any  obligation  to  update
forward-looking statements.

Item 3.  Quantitative and Qualitative Disclosures about Market Risk.

Inapplicable.

Item 4.  Controls and Procedures

Based on an evaluation of the Partnership's  disclosure  controls and procedures
(as defined in Rules 13a-14 and 15d-14 of the  Securities  Exchange Act of 1934)
conducted  within  ninety days of the filing date of this  report,  the managing
general partner's  principal  executive officer and principal  financial officer
have found those  controls and  procedures to be  effective.  There have been no
significant  changes in the Partnership's  internal controls or in other factors
that could  significantly  affect these controls subsequent to the date of their
evaluation   including  any  corrective   actions  with  regard  to  significant
deficiencies and material weaknesses.

<PAGE>
<TABLE>
<CAPTION>

Part II

Item 6.  Exhibits and Reports on Form 8-K.

(a)      Exhibits  99.1 and 99.2  Certifications  pursuant to 18 U.S.C.  Section
         1350,  as adopted, and regarding  Section 906 of the Sarbanes-Oxley Act
         of 2002

(b)      Not applicable.



                                   SIGNATURES


Pursuant  to the  requirements  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.


                         TEXTAINER EQUIPMENT INCOME FUND IV, L.P.
                         A California Limited Partnership

                         By Textainer Financial Services Corporation
                         The Managing General Partner



                         By _______________________________
                            Ernest J. Furtado
                            Chief Financial Officer


Date:   May 13, 2003

Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the following persons on behalf of Textainer  Financial
Services  Corporation,  the Managing  General Partner of the Registrant,  in the
capacities and on the dates indicated:


Signature                                Title                                          Date
<S>                                      <C>                                              <C>


________________________                 Chief Financial Officer, Senior                May 13, 2003
Ernest J. Furtado                        Vice President and Secretary





________________________                 President                                      May 13, 2003
John A. Maccarone

</TABLE>
<PAGE>
<TABLE>
<CAPTION>

Part II

Item 6.  Exhibits and Reports on Form 8-K.

     (a) Exhibits 99.1 and  99.2 Certifications  pursuant  to  18 U.S.C. Section
         1350, as adopted, and regarding  Section  906 of the Sarbanes-Oxley Act
         of 2002

     (b) Not applicable.



                                   SIGNATURES


Pursuant  to the  requirements  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.


                         TEXTAINER EQUIPMENT INCOME FUND IV, L.P.
                         A California Limited Partnership

                         By Textainer Financial Services Corporation
                         The Managing General Partner



                        By /s/Ernest J. Furtado
                           ___________________________________________
                           Ernest J. Furtado
                           Chief Financial Officer


Date:   May 13, 2003

Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the following persons on behalf of Textainer  Financial
Services  Corporation,  the Managing  General Partner of the Registrant,  in the
capacities and on the dates indicated:


Signature                                Title                                          Date
<S>                                      <C>                                            <C>


/s/Ernest J. Furtado
_____________________________________    Chief Financial Officer, Senior                May 13, 2003
Ernest J. Furtado                        Vice President and Secretary





/s/John A. Maccarone
_____________________________________    President                                      May 13, 2003
John A. Maccarone
</TABLE>

<PAGE>


CERTIFICATIONS

I, John A. Maccarone, certify that:

1.   I have  reviewed this quarterly  report on form 10-Q of Textainer Equipment
     Income Fund IV, L.P.;

2.   Based on my knowledge,  this  quarterly  report does not contain any untrue
     statement of a material fact or omit to state a material fact  necessary to
     make the statements  made, in light of the  circumstances  under which such
     statements  were made, not misleading with respect to the period covered by
     this quarterly report;

3.   Based on my  knowledge,  the  financial  statements,  and  other  financial
     information  included  in this  quarterly  report,  fairly  present  in all
     material respects the financial  condition,  results of operations and cash
     flows of the  registrant  as of, and for,  the  periods  presented  in this
     quarterly report;

4.   The  registrant's  other  certifying  officers  and I are  responsible  for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

     a.)  designed  such  disclosure  controls  and  procedures  to ensure  that
          material  information  relating  to  the  registrant,   including  its
          consolidated subsidiaries,  is made known to us by others within those
          entities,  particularly  during  the  period in which  this  quarterly
          report is being prepared;

     b.)  evaluated the  effectiveness of the registrant's  disclosure  controls
          and procedures as of a date within 90 days prior to the filing date of
          this quarterly report (the "Evaluation Date"); and

     c.)  presented  in  this  quarterly   report  our  conclusions   about  the
          effectiveness  of the disclosure  controls and procedures based on our
          evaluation as of the Evaluation Date;

5.   The registrant's other certifying  officers and I have disclosed,  based on
     our most recent  evaluation,  to the  registrant's  auditors  and the audit
     committee of  registrant's  board of directors (or persons  performing  the
     equivalent function):

     a.)  all  significant  deficiencies  in the design or operation of internal
          controls  which could  adversely  affect the  registrant's  ability to
          record,  process,   summarize  and  report  financial  data  and  have
          identified for the  registrant's  auditors any material  weaknesses in
          internal controls; and

     b.)  any fraud, whether or not material,  that involves management or other
          employees who have a  significant  role in the  registrant's  internal
          controls; and

6.   The  registrant's  other  certifying  officers and I have indicated in this
     quarterly report whether or not there were significant  changes in internal
     controls  or in other  factors  that could  significantly  affect  internal
     controls  subsequent to the date of our most recent  evaluation,  including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.


May 13, 2003

                                  /s/ John A. Maccarone
                                  ______________________________________________
                                  John A. Maccarone
                                  President and Director of TFS


<PAGE>

CERTIFICATIONS

I, Ernest J. Furtado, certify that:

1.   I have reviewed this quarterly  report on form 10-Q of Textainer  Equipment
     Income Fund IV, L.P.;

2.   Based on my knowledge,  this  quarterly  report does not contain any untrue
     statement of a material fact or omit to state a material fact  necessary to
     make the statements  made, in light of the  circumstances  under which such
     statements  were made, not misleading with respect to the period covered by
     this quarterly report;

3.   Based on my  knowledge,  the  financial  statements,  and  other  financial
     information  included  in this  quarterly  report,  fairly  present  in all
     material respects the financial  condition,  results of operations and cash
     flows of the  registrant  as of, and for,  the  periods  presented  in this
     quarterly report;

4.   The  registrant's  other  certifying  officers  and I are  responsible  for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

     a.)  designed  such  disclosure  controls  and  procedures  to ensure  that
          material  information  relating  to  the  registrant,   including  its
          consolidated subsidiaries,  is made known to us by others within those
          entities,  particularly  during  the  period in which  this  quarterly
          report is being prepared;

     b.)  evaluated the  effectiveness of the registrant's  disclosure  controls
          and procedures as of a date within 90 days prior to the filing date of
          this quarterly report ( the "Evaluation Date"); and

     c.)  presented  in  this  quarterly   report  our  conclusions   about  the
          effectiveness  of the disclosure  controls and procedures based on our
          evaluation as of the Evaluation Date;

5.   The registrant's other certifying  officers and I have disclosed,  based on
     our most recent  evaluation,  to the  registrant's  auditors  and the audit
     committee of  registrant's  board of directors (or persons  performing  the
     equivalent function):

     a.)  all  significant  deficiencies  in the design or operation of internal
          controls  which could  adversely  affect the  registrant's  ability to
          record,  process,   summarize  and  report  financial  data  and  have
          identified for the  registrant's  auditors any material  weaknesses in
          internal controls; and

     b.)  any fraud, whether or not material,  that involves management or other
          employees who have a  significant  role in the  registrant's  internal
          controls; and

6.   The  registrant's  other  certifying  officers and I have indicated in this
     quarterly report whether or not there were significant  changes in internal
     controls  or in other  factors  that could  significantly  affect  internal
     controls  subsequent to the date of our most recent  evaluation,  including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.


May 13, 2003

                         /s/ Ernest J. Furtado
                         ____________________________________________________
                         Ernest J. Furtado
                         Chief Financial Officer, Senior Vice President,
                         Secretary and Director of TFS


<PAGE>



                                  EXHIBIT 99.1



                            CERTIFICATION PURSUANT TO
                               18 U.S.C. ss. 1350,
                        AS ADOPTED, REGARDING SECTION 906
                        OF THE SARBANES-OXLEY ACT OF 2002



In connection with the Quarterly  Report of Textainer  Equipment Income Fund IV,
L.P., (the  "Registrant")  on Form 10-Q for the quarterly period ended March 31,
2003, as filed on May 13, 2003 with the Securities and Exchange  Commission (the
"Report"),  I, John A.  Maccarone,  the  President  and  Director  of  Textainer
Financial Services  Corporation  ("TFS") and Principal Executive Officer of TFS,
the Managing General Partner of the Registrant,  certify,  pursuant to 18 U.S.C.
ss. 1350, as adopted,  regarding Section 906 of the  Sarbanes-Oxley Act of 2002,
that:

(i)    The Report fully complies with the requirements of Section 13(a) or 15(d)
       of the Securities Exchange Act of 1934; and

(ii)   The information contained in the Report fairly presents, in  all material
       respects,  the  financial  condition,  and  results  of operations of the
       Registrant.



May 13, 2003



                                By  /s/ John A. Maccarone
                                    _______________________________
                                    John A. Maccarone
                                    President and Director of TFS





A signed  original of this  written  statement  required by Section 906 has been
provided to the  Registrant and will be retained by the Registrant and furnished
to the Securities and Exchange Commission or its staff upon request.


<PAGE>


                                  EXHIBIT 99.2



                            CERTIFICATION PURSUANT TO
                               18 U.S.C. ss. 1350,
                        AS ADOPTED, REGARDING SECTION 906
                        OF THE SARBANES-OXLEY ACT OF 2002



In connection with the Quarterly  Report of Textainer  Equipment Income Fund IV,
L.P., (the  "Registrant")  on Form 10-Q for the quarterly period ended March 31,
2003, as filed on May 13, 2003 with the Securities and Exchange  Commission (the
"Report"), I, Ernest J. Furtado, Chief Financial Officer, Senior Vice President,
Secretary and Director of Textainer  Financial Services  Corporation ("TFS") and
Principal  Financial and Accounting Officer of TFS, the Managing General Partner
of the  Registrant,  certify,  pursuant  to 18  U.S.C.  ss.  1350,  as  adopted,
regarding Section 906 of the Sarbanes-Oxley Act of 2002, that:

(i)    The Report fully complies with the requirements of Section 13(a) or 15(d)
       of the Securities Exchange Act of 1934; and

(ii)   The information  contained in the Report fairly presents, in all material
       respects,  the  financial  condition,  and  results  of operations of the
       Registrant.



May 13, 2003


                            By  /s/ Ernest J. Furtado
                                _______________________________________________
                                Ernest J. Furtado
                                Chief Financial Officer, Senior Vice President,
                                Secretary and Director of TFS






A signed  original of this  written  statement  required by Section 906 has been
provided to the  Registrant and will be retained by the Registrant and furnished
to the Securities and Exchange Commission or its staff upon request.