SECURITIES AND EXCHANGE COMMISSION

                          WASHINGTON, D.C.  20549
                          
                                 FORM 10-QSB


     [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF
         THE SECURITIES EXCHANGE ACT OF 1934                     
     
     For the quarterly period ended June 30, 1997

                            

     [ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)       
          OF THE EXCHANGE ACT.

     For the transition period from _____________to_____________ 
     
     Commission File Number:   0-21242                           
     
     TRIUMPHE LEASING VIII L.P.                                  
     (Exact name of small business issuer 
      as specified in its charter)

     Illinois                             36-3799482             
     (State or other jurisdiction of      (I.R.S. Employer
     incorporation or organization)       Identification No.)
     
     630 Dundee Road, Suite 345, Northbrook, Illinois  60062      
     (Address of principal executive offices)      (Zip Code)  

     847-509-1500                                                
     (Issuer's telephone number)


                                                                 
     (Former name, former address and former fiscal year, if 
     changed since last report)

     Check whether the issuer: (1) filed all reports required to
     be filed by Sections 13 or 15(d) of the Exchange Act during  
     the past 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.    
                                        [X]Yes     [ ]No
                                                                  
                                                  Page 1 of 13
<PAGE>
<TABLE>


                               PART I
                        FINANCIAL INFORMATION

                    ITEM 1.   FINANCIAL STATEMENTS
                                         
                      TRIUMPHE LEASING VIII L.P.
                           BALANCE SHEETS
<CAPTION>
                                     
                               June 30, 1997    December 31, 1996
                               -------------    ----------------- 
                                (Unaudited)          
<S>                              <C>                  <C>
ASSETS

CURRENT ASSETS:
  Cash and equivalents           $   91,058           $   78,906 
  Accounts Receivable                24,219               44,017
  Net investment in direct   
    financing leases                475,694            1,670,064
  Prepaid expenses                      991                 -   
                                  ---------            ---------
     TOTAL CURRENT ASSETS           591,962            1,792,987
                                  ---------            ---------

COMPUTER EQUIPMENT ON OPERATING LEASES,
  less accumulated depreciation of
  $956,886 and $2,208,951           237,368              543,276
                                  ---------            ---------
OTHER ASSETS:
  Net investment in direct  
      financing leases               54,110               95,918
  Deferred organization costs,             
      less accumulated amortization 
      of $25,000  and $24,270          -                     730
                                  ---------            ---------
     TOTAL OTHER ASSETS              54,110               96,648
                                  ---------            ---------  
                                 $  883,440           $2,432,911
                                  =========            =========
<FN>
See accompanying notes to financial statements (Unaudited)
</TABLE>

                                                  Page 2 of 13
<PAGE>
<TABLE>


                               PART I
                        FINANCIAL INFORMATION

              ITEM 1.  FINANCIAL STATEMENTS - CONTINUED
                        
                      TRIUMPHE LEASING VIII L.P.                  
                           BALANCE SHEETS
<CAPTION>
                              June 30, 1997     December 31, 1996
                              -------------     -----------------
                               (Unaudited)         
<S>                              <C>                <C>
LIABILITIES AND PARTNERS' EQUITY

CURRENT LIABILITIES:
  Accounts payable               $   479,376        $   439,569
  Current maturities of 
      long-term debt                 405,987          1,646,827
  Other liabilities                   24,113             27,150
                                  -----------        -----------
      TOTAL CURRENT LIABILITIES      909,476          2,113,546
                                  -----------        -----------
LONG-TERM DEBT, 
  less current maturities            170,654            138,414
                                  -----------        -----------
      TOTAL LIABILITIES            1,080,130          2,251,960
                                  -----------        -----------
PARTNERS' EQUITY (DEFICIT):
  General Partners                    (1,422)             2,355
  Limited Partners                  (195,268)           178,596
                                  -----------        -----------
      TOTAL PARTNERS' EQUITY
      (DEFICIT)                     (196,690)           180,951  
                                  -----------        -----------
                                 $   883,440        $ 2,432,911
<FN>
See accompanying notes to financial statements (Unaudited)
</TABLE>                                                       
                                                  Page 3 of 13
<PAGE>
<TABLE>
                          
                      TRIUMPHE LEASING VIII L.P.
                       STATEMENTS OF OPERATIONS                  
<CAPTION>

                                 Six Months       Six Months
                                    Ended            Ended   
                                June 30, 1997     June 30, 1996
                                -------------     -------------
                                 (Unaudited)       (Unaudited)
<S>                               <C>               <C>
REVENUES:
  Lease Income                    $   251,430       $ 1,162,112
  Interest Income                          45             1,265
  Loss on Sale of Equipment          (161,700)          (44,376)
                                   -----------       -----------
 TOTAL REVENUES                        89,775         1,119,001 
                                   -----------       -----------  
OPERATING EXPENSES:
  Interest                             44,221           156,169
  Depreciation & Amortization         134,297           624,592
  Remarketing Commissions Paid
    to Outside Lease Brokers           45,598             5,384
  Administrative                       75,716           102,912 
                                   -----------       -----------
  TOTAL OPERATING EXPENSES            299,832           889,057 
                                   -----------       -----------
NET INCOME (LOSS)                 $  (210,057)      $   229,944 
                                   ===========       ===========  
       
NET INCOME (LOSS) ALLOCATED TO: 
  General Partners                $    (2,101)      $     2,299 
  Limited Partners                   (207,956)          227,645 
                                   ------------      -----------
                                  $  (210,057)      $   229,944 
                                   ============      ===========
 
WEIGHTED AVERAGE UNITS OUTSTANDING
   DURING THE PERIOD:
   General Partners                    1.2894            1.2894
   Limited Partners                  127.6554          127.6554

INCOME (LOSS) PER WEIGHTED AVERAGE UNIT:
   General Partners               $    (1,629)      $     1,783
   Limited Partners               $    (1,629)      $     1,783

<FN>
See accompanying notes to financial statements (Unaudited)
</TABLE>                                                
                                                  Page 4 of 13
<PAGE>
<TABLE>
                           
                      TRIUMPHE LEASING VIII L.P.
                       STATEMENTS OF OPERATIONS                   


                               Three Months      Three Months
                                  Ended             Ended   
                              June 30, 1997     June 30, 1996
                              -------------     -------------
                               (Unaudited)       (Unaudited)
<S>                              <C>               <C>
REVENUES:
  Lease Income                   $   98,643        $  456,016
  Interest Income                      -                1,265
  Loss on Sale of Equipment        (161,700)          (68,580)
                                  ----------        ----------
 TOTAL REVENUES                     (63,057)          388,701 
                                  ----------        ----------
OPERATING EXPENSES:
  Interest                           15,965            67,440
  Depreciation & Amortization        39,552           302,351
  Remarketing Commissions Paid
    to Outside Lease Brokers         44,438             4,901
  Administrative                     27,519            46,526 
                                  ----------        ----------
  TOTAL OPERATING EXPENSES          127,474           421,218 
                                  ----------        ----------
NET LOSS                         $ (190,531)       $  (32,517)
                                  ==========        ==========

NET LOSS ALLOCATED TO: 
  General Partners               $   (1,905)       $     (325)
  Limited Partners                 (188,626)          (32,192)
                                  ----------        ----------
                                 $ (190,531)       $  (32,517)
                                  ==========        ==========
 
WEIGHTED AVERAGE UNITS OUTSTANDING
   DURING THE PERIOD:
   General Partners                  1.2894            1.2894
   Limited Partners                127.6554          127.6554

LOSS PER WEIGHTED AVERAGE UNIT:
   General Partners              $   (1,477)       $     (252)
   Limited Partners              $   (1,477)       $     (252)

<FN>
See accompanying notes to financial statements (Unaudited)
</TABLE>                                                
                                                  Page 5 of 13
<PAGE>
<TABLE>
     
                          TRIUMPHE LEASING VIII L.P.
                         STATEMENT OF PARTNERS' EQUITY
                       
                        Six Months Ended June 30, 1997
                                  (Unaudited)

<CAPTION>
                                                                 
                                        GENERAL       LIMITED
                           TOTAL        PARTNERS      PARTNERS
                           -----        --------      -------- 
<S>                        <C>          <C>           <C>
PARTNERS' EQUITY         
  Beginning of period      $  180,951   $   2,355     $  178,596

DISTRIBUTIONS                (167,584)     (1,676)      (165,908)
NET LOSS                     (210,057)     (2,101)      (207,956)
                            ----------   ---------     ----------
PARTNERS' DEFICIT
  End of period            $ (196,690)  $  (1,422)    $ (195,268)
                            ==========   =========     ==========
<FN>
See accompanying notes to financial statements (Unaudited)
</TABLE>
                                                  Page 6 of 13
<PAGE>
<TABLE>
                                               
                         TRIUMPHE LEASING VIII L.P. 
                          STATEMENTS OF CASH FLOWS 
<CAPTION>                                     

                               Six Months        Six Months  
                                  Ended             Ended
                             June 30, 1997     June 30, 1996
                             -------------     -------------      
                                (Unaudited)       (Unaudited)
<S>                             <C>                <C>
CASH FLOWS FROM OPERATING ACTIVITIES: 
  Net (loss) income             $  (210,057)       $   229,944  
  Adjustments to reconcile 
   net (loss) income to net
   cash provided by operating
   activities: 
        
   Depreciation & Amortization      134,297            624,592  
    Loss on sale of equipment 
    under lease                     161,700             44,376  
    Amortization of unearned 
    income                          (51,924)          (153,217)

  Changes in assets and liabilities:
   Decrease in accounts receivable   19,798             (1,450) 
    Increase in prepaid expense        (991)              -  
    Increase in accounts payable     39,807             28,802
    Decrease in other liabilities    (3,037)           (39,285)
                                 -----------        -----------
       Net cash provided by  
       operating activities          89,593            733,762 
                                 -----------        -----------
CASH FLOWS FROM INVESTING ACTIVITIES: 
  Purchase of computer equipment
   on lease                            -              (108,393)
  Principal payments received under                            
    direct financing leases       1,288,102          1,367,790
  Proceeds from sale of 
    equipment under lease            10,641            703,807 
                                 -----------        -----------
       Net cash provided by  
       investing activities       1,298,743          1,963,204 
                                 -----------        -----------

CASH FLOWS FROM FINANCING ACTIVITIES: 
  Distributions to partners        (167,584)          (708,784)
  Proceeds from issuance of 
    nonrecourse debt                161,524            221,312  
  Principal payments of 
    nonrecourse debt             (1,370,124)        (2,176,455)
                                 -----------        -----------
       Net cash (used in)
       financing activities      (1,376,184)        (2,663,927)
                                 -----------        -----------
NET INCREASE IN CASH 
 AND EQUIVALENTS                     12,152             33,039

CASH AND EQUIVALENTS, 
  at the beginning of the period     78,906             59,415 
                                              
CASH AND EQUIVALENTS,
  at the end of the period      $    91,058        $    92,454  
                                              
SUPPLEMENTAL DISCLOSURE OF 
CASH FLOW INFORMATION:
  Cash paid during the period
    for interest                $    44,221        $   156,169

<FN>
See accompanying notes to financial statements (Unaudited)
</TABLE>
                                                  Page 7 of 13    
<PAGE>
                                               
                         TRIUMPHE LEASING VIII L.P. 
                          STATEMENTS OF CASH FLOWS 
                                     
                                Three Months     Three Months  
                                   Ended            Ended
                               June 30, 1997    June 30, 1996
                               -------------    ------------- 
                                (Unaudited)      (Unaudited)
[S]                             [C]               [C]
CASH FLOWS FROM OPERATING ACTIVITIES: 
  Net (loss) income             $  (190,531)      $  141,969  
  Adjustments to reconcile 
  net (loss) income to net 
  cash provided by operating 
  activities: 
                                                     
  Depreciation & Amortization        39,552          302,351  
  Loss on sale of equipment 
  under lease                       161,700           68,579 
  Amortization of unearned income   (19,347)         (71,118)

  Changes in assets and liabilities:
    Increase in accounts receivable (12,273)            -
    Decrease in prepaid expenses        495              726  
    Increase (Decrease) in accounts 
     payable                          9,393          (17,689)
    Decrease in other liabilities    (5,629)          (1,773)
                                 -----------      -----------
       Net cash (used in) provided 
       by operating activities      (16,640)         423,045 
                                 -----------      -----------

CASH FLOWS FROM INVESTING ACTIVITIES: 
  Purchase of computer equipment 
    on lease                           -             (88,617)
  Principal payments received under                            
    direct financing leases         644,051          666,779
  Proceeds from sale of equipment 
    under lease                      10,641          574,532 
                                 -----------      -----------
       Net cash provided by  
       investing activities         654,692        1,152,694 
                                 -----------      -----------

CASH FLOWS FROM FINANCING ACTIVITIES: 
  Distributions to partners        (103,124)        (579,839)
  Proceeds from issuance of 
    nonrecourse debt                161,524           88,595
  Principal payments of
    nonrecourse debt               (665,239)      (1,077,209)
                                 -----------      -----------
       Net cash (used in)
       financing activities        (606,839)      (1,568,453)
                                 -----------      -----------

NET INCREASE IN CASH
 AND EQUIVALENTS                     31,213            7,286

CASH AND EQUIVALENTS, 
  at the beginning of the period     59,845           85,168 
                                 -----------      -----------
CASH AND EQUIVALENTS,
  at the end of the period      $    91,058       $   92,454  
                                 ===========      ===========
SUPPLEMENTAL DISCLOSURE OF 
CASH FLOW INFORMATION:
  Cash paid during the period 
    for interest                $    15,965       $   67,440

[FN]
See accompanying notes to financial statements (Unaudited)
[/TABLE]
                                                  Page 8 of 13    
<PAGE>
                        
                          TRIUMPHE LEASING VIII L.P.
                         NOTES TO FINANCIAL STATEMENTS 
[CAPTION]                                        
                                         
NOTE 1 - FINANCIAL INFORMATION
     
    The financial information included herein at June 30, 1997
and each of the six months and three months ended June 30, 1997,
and June 30, 1996, is unaudited and, in the opinion of the
partnership, reflects all adjustments (which include only normal
recurring adjustments) necessary for the fair presentation of the
financial position as of those dates and the results of operation
for those periods.

    The results for interim periods are not necessarily
indicative of trends or of results to be expected for a full
year.


NOTE 2 - ORGANIZATION 

    The partnership was formed on December 10, 1991, under the
Revised Uniform Limited Partnership Act of the State of Illinois. 
The partnership's business is to acquire, own, lease, maintain,
manage and sell equipment.  The quarter ended June 30, 1997 was
the twenty-second quarter of operations.


NOTE 3 - DESCRIPTION OF LEASING ARRANGEMENTS
     
    The partnership's leasing operations consist principally of
leased equipment which it has acquired from third-party
independent lease brokers.  It is the partnership's intention to
re-lease such equipment to the existing lessee, lease such
equipment to a new lessee, or to sell the equipment at the end of
each lease.  The leases expire over the next three years.  The
cost of each lease includes an equity investment plus any non-
recourse loans obtained to finance the purchase. 

      
NOTE 4 - EQUIPMENT 
       
    Equipment is recorded at cost.  Depreciation is computed
using the double declining balance method over the estimated
useful lives of the assets (five years).

                                                  Page 9 of 13  
<PAGE>

                           TRIUMPHE LEASING VIII L.P.
                         NOTES TO FINANCIAL STATEMENTS


NOTE 5 - NET INVESTMENT IN LEASES 


The following lists the components of the net 
investment in leases as of June 30, 1997: 

Total minimum lease payments to be received          $   351,974  

Estimated residual values of leased property             202,972  

Less: Unearned income                                    (25,142)
                                                      -----------
Net investment in leases                             $   529,804  
                                                      ===========
                                            

      At June 30, 1997, minimum lease payments for direct
financing and operating leases for each of the succeeding
calendar years are expected to be received as follows: 


                  YEAR                    AMOUNT                  

                  1997                 $ 1,744,255             
                  1998                     190,284             
                  1999                      74,152
                  2000                      14,925 

                                                  Page 10 of 13
<PAGE>
 
ITEM 2 MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS 

The partnership commenced the offering of units and began
operations on March 27, 1992, and commenced the acquisition of
equipment in June of 1992.  As of December 31, 1993 the
partnership ceased the sale of Investor Limited Partner Units.  A
total of $2,514,768 in units had been sold through December 31,
1993.  At June 30, 1997 the partnership had acquired $19,119,937
of leased equipment with an equity investment of $2,157,130 and
non-recourse bank borrowing of $16,962,807.

OPERATIONS
Total revenues decreased to $89,775 for the first two quarters of
the fiscal year ending December 31, 1997 ("fiscal 1997") from
$1,119,001 for the first two quarters of the fiscal year ended
December 31, 1996 ("fiscal 1996").  Total revenues consist of
lease rental income, interest earned on short-term money market
investments, and the loss on sale of equipment.  The decrease in
total revenues from the first two quarters of fiscal 1996 to the
first two quarters of fiscal 1997, was due primarily to the loss
of rental income attributable to the expiration of leases and the
loss on sale of equipment.
                                                     
Operating expenses decreased to $299,832 for the first two
quarters of fiscal 1997 from $889,057 for the first two quarters
of fiscal 1996.  Operating expenses consist of interest on
nonrecourse financing of equipment purchased, depreciation of
equipment, amortization of organization expenses, and
administrative expenses.  The decrease in operating expenses from
the first two quarters of fiscal 1996 to the first two quarters
of fiscal 1997 resulted primarily from the reduction of equipment
on lease.

The partnership does not plan to invest in additional equipment. 
Future results depend on the collection of rents on existing and
extended leases, disposition of equipment from expired leases,
and interest earned on short-term money market investments.

LIQUIDITY AND CAPITAL RESOURCES
Liquid assets of the partnership increase principally from cash
flows from operations.  Cash and cash equivalents of the
partnership at June 30, 1997 include undistributed cash available
from operations during the period March 27, 1992 to June 30,
1997.  

The partnership has a program which provides for the temporary
investment of cash in various short-term money market instruments
pending disbursements for operations or distributions to
partners. 
 
The partnership generally financed the purchase of equipment by
the use of loans in an amount in excess of 50% of the purchase
price thereof.  All of the loans incurred were non-recourse to
the partnership and were or will be fully amortized by the
monthly rental payments due to the partnership under related
leases.

The partnership maintains, to the extent practicable, a working
capital and contingency reserve in an amount not to exceed 1% of
the gross proceeds from the offering of units, subject to
business and distribution requirements.  Such amount, together
with any amount reserved from operations, will be available to
meet working capital requirements and to provide for
contingencies.
                                            
                                                  Page 11 of 13
<PAGE>

                            TRIUMPHE LEASING VIII L.P.
                           PART II - OTHER INFORMATION 


NONE

                                                  Page 12 of 13   
<PAGE>  
 
                           SIGNATURES 


        
In accordance with the requirements of the Exchange Act, the
Registrant has caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized. 


                      TRIUMPHE LEASING VIII L.P. 
                      By:  TL GENERAL VIII CORP., 
                      Its:  General Partner



  Date August 12, 1997         By: /s/ Gerald A. Horwitz          
       ---------------------     ------------------------------- 
                                 Gerald A. Horwitz, President
                                 of the Corporate General Partner
                                 (Principal Executive Officer) 


  Date August 12, 1997          By: /s/ Jerry L. Schwartz         
       ---------------------      ------------------------------- 
                                 Jerry L. Schwartz, 
                                 Vice President, 
                                 Secretary and Treasurer 
                                 of the Corporate General Partner
                                 (Principal Financial and 
                                 Accounting Officer) 


  Date August 12, 1997          By: /s/ Gerald A. Horwitz         
       --------------------       ------------------------------- 
                                  Gerald A. Horwitz 
                                  Its: General Partner

                                                  Page 13 of 13