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 September 30, 1998

                            
     [ ]  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>

                        September 30, 1998   December 31, 1997
                        ------------------   -----------------
                            (Unaudited)          
<S>                           <C>                 <C>
ASSETS

CURRENT ASSETS:
  Cash and equivalents        $    28,284         $    83,982
  Net investment in direct 
    financing leases                 -                 74,866
  Accounts receivable               3,847               1,250 
                               ----------          ----------
     TOTAL CURRENT ASSETS          32,131             160,098
                               ----------          ----------

COMPUTER EQUIPMENT ON OPERATING LEASES,
  less accumulated depreciation of
  $910,020 and $876,589           101,867             166,603
                               ----------          ----------
OTHER ASSETS:
  Net investment in direct  
      financing leases               -                 21,052  
                               ----------          ----------     
                              $   133,998         $   347,753
                               ==========          ==========
<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>
                       September 30, 1998   December 31, 1997
                       ------------------   -----------------
                           (Unaudited)         
<S>                           <C>                 <C>
LIABILITIES AND PARTNERS' EQUITY

CURRENT LIABILITIES:
  Accounts payable            $       360         $      -   
  Current maturities of 
      long-term debt              147,003             227,060
  Other liabilities                 7,251               3,601
                               -----------         -----------
    TOTAL CURRENT LIABILITIES     154,614             230,661
                               ===========         ===========
LONG-TERM DEBT, 
  less current maturities         180,387             183,411
Accrued management fees           456,493             470,845
                               -----------         -----------   
    TOTAL LONG-TERM LIABILITIES   636,880             654,256
                               -----------         -----------
    TOTAL LIABILITIES             791,494             884,917
                               -----------         -----------    
PARTNERS' DEFICIT:
  General Partners                 (6,031)             (4,827)
  Limited Partners               (651,465)           (532,337)
                               -----------         -----------
      TOTAL PARTNERS' DEFICIT    (657,496)           (537,164)
                                                
                               -----------         -----------
                              $   133,998         $   347,753
                               ===========         ===========    
<FN>
See accompanying notes to financial statements (Unaudited)
</TABLE>                                                       
                                                  Page 3 of 13
<PAGE>
<TABLE>
                    
                      TRIUMPHE LEASING VIII L.P.
                       STATEMENTS OF OPERATIONS                   
<CAPTION>

                         Nine Months        Nine Months
                            Ended              Ended   
                     September 30, 1998  September 30, 1997
                     ------------------  ------------------ 
                         (Unaudited)         (Unaudited)
<S>                           <C>                 <C>
REVENUES:
  Lease Income                $   198,979         $   324,022
  Interest Income                     604                  45
  Loss on Sale of Equipment       (59,691)           (152,925)
                               -----------         -----------
 TOTAL REVENUES                   139,892             171,142 
                               -----------         -----------
OPERATING EXPENSES:
  Interest                         20,548              52,257
  Depreciation & Amortization      69,708             171,565
  Remarketing Commissions Paid
    to Outside Lease Brokers       13,913             105,445
  Administrative                    7,770              50,624 
                               -----------         -----------    
  TOTAL OPERATING EXPENSES        111,939             379,891 
                               -----------         -----------    
NET INCOME (LOSS)             $    27,953         $  (208,749)
                               ===========         ===========    

NET INCOME (LOSS) ALLOCATED TO: 
  General Partners            $       280         $    (2,087)
  Limited Partners                 27,673            (206,662)
                               -----------         -----------    
                              $    27,953         $  (208,749)
                               ===========         ===========    
      
WEIGHTED AVERAGE UNITS OUTSTANDING
   DURING THE PERIOD:
   General Partners                1.2894              1.2894
   Limited Partners              127.6554            127.6554

BASIC AND FULLY DILUTED EARNINGS PER UNIT:
   General Partners           $       217         $    (1,619)
   Limited Partners           $       217         $    (1,619)

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

<CAPTION>
                           Three Months        Three Months
                               Ended               Ended          
                        September 30, 1998   September 30, 1997
                        ------------------   ------------------
                            (Unaudited)         (Unaudited)
<S>                           <C>                 <C>
REVENUES:
  Lease Income                $    69,562         $    72,592
  Gain on Sale 
    of Equipment                    1,155               8,775 
                               -----------         ----------- 
 TOTAL REVENUES                    70,717              81,367 
                               -----------         -----------    
OPERATING EXPENSES:
  Interest                          6,695               8,036
  Depreciation & Amortization      23,559              37,268
  Remarketing Commissions Paid
   to Outside Lease Brokers         3,140              59,848
  Administrative                    2,521             (25,093)
                               -----------         -----------    
  TOTAL OPERATING EXPENSES         35,915              80,059 
                               -----------         -----------    
NET INCOME                    $    34,802         $     1,308 
                               ===========         ===========    
         
NET INCOME ALLOCATED TO: 
  General Partners            $        348        $        13 
  Limited Partners                  34,454              1,295 
                               -----------         -----------    
                              $     34,802        $     1,308 
                               ===========         ===========    
        
WEIGHTED AVERAGE UNITS OUTSTANDING
   DURING THE PERIOD:
   General Partners                1.2894              1.2894
   Limited Partners              127.6554            127.6554

BASIC AND FULLY DILUTED EARNINGS PER UNIT:
   General Partners           $       270         $        10 
   Limited Partners           $       270         $        10 

<FN>
See accompanying notes to financial statements (Unaudited)
</TABLE>                                                
                                                  Page 5 of 13
<PAGE>
<TABLE>
     
                          TRIUMPHE LEASING VIII L.P.
                         STATEMENT OF PARTNERS' EQUITY            
   
                     Nine Months Ended September 30, 1998
                                  (Unaudited)


<CAPTION>                                                         
                                          GENERAL      LIMITED
                             TOTAL        PARTNERS     PARTNERS
                             -----        --------     --------
<S>                          <C>          <C>          <C>
PARTNERS' DEFICIT
  Beginning of period        $(537,164)   $ (4,827)    $(532,337)

DISTRIBUTIONS                 (148,285)     (1,484)     (146,801) 
NET INCOME                      27,953         280        27,673 
                             ----------   ---------    ----------
PARTNERS' DEFICIT 
  End of period              $(657,496)   $ (6,031)    $(651,465)
                             ==========   =========    ========== 
<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>                                     

                           Nine Months          Nine Months  
                              Ended                Ended
                        September 30, 1998   September 30, 1997
                        ------------------   ------------------   
                           (Unaudited)          (Unaudited)
<S>                          <C>                  <C>
CASH FLOWS FROM OPERATING ACTIVITIES: 
  Net income (loss)          $      27,953          $  (208,749)  
  Adjustments to reconcile 
   net income (loss) to net 
   cash provided by operating 
   activities: 
        
   Depreciation & amortization      69,708              171,565
   Loss on sale of equipment 
    under lease                     59,691              152,925  
   Amortization of unearned 
    income                          (7,029)             (59,452)

  Changes in assets and liabilities:
    (Increase) decrease in 
     accounts receivable            (2,597)              38,824 
    Increase in prepaid expenses      -                    (496) 
    Increase in accounts payable       360               29,946
    Decrease in accrued management 
     fees                          (14,352)             (27,149)  
    Decrease (increase) in other
     liabilities                     3,650              (22,342)
                                 ----------           ----------
       Net cash provided by  
       operating activities        137,384               75,072 
                                 ----------           ----------  
             
CASH FLOWS FROM INVESTING ACTIVITIES: 

  Principal payments received under                            
   direct financing leases          36,129            1,517,238
  Proceeds from sale of
   equipment under lease             2,155               14,826 
                                 ----------           ----------  
      Net cash provided by  
      investing activities          38,284            1,532,064 
                                 ----------           ----------

CASH FLOWS FROM FINANCING ACTIVITIES: 
  Distributions to partners       (148,285)            (232,043)
  Proceeds from issuance of 
    nonrecourse debt                75,718              161,524
  Principal payments of 
    nonrecourse debt              (158,799)          (1,480,124)
                                -----------          -----------  
       Net cash used in
       financing activities       (231,366)          (1,550,643)
                                -----------          -----------
NET (DECREASE) INCREASE IN CASH 
 AND EQUIVALENTS                   (55,698)              56,493

CASH AND EQUIVALENTS, 
  at the beginning of the period    83,982               78,906 
                                              
CASH AND EQUIVALENTS,
  at the end of the period   $      28,284          $   135,399   
                                ===========          ===========
                                             
SUPPLEMENTAL DISCLOSURE OF 
CASH FLOW INFORMATION:
  Cash paid during the period 
    for interest             $      20,548          $    52,257

<FN>
See accompanying notes to financial statements (Unaudited)
</TABLE>
                                                  Page 7 of 13    
<PAGE>
<TABLE>                                               
                         TRIUMPHE LEASING VIII L.P. 
                          STATEMENTS OF CASH FLOWS 
<CAPTION>
                              
                            Three Months         Three Months  
                               Ended                Ended
                         September 30, 1998   September 30, 1997
                         ------------------   ------------------
                            (Unaudited)          (Unaudited)
<S>                           <C>                 <C>
CASH FLOWS FROM OPERATING ACTIVITIES: 
  Net income                  $    34,802         $     1,308 
   Adjustments to reconcile
   net income to net cash
   provided by operating 
   activities: 
                                                     
   Depreciation & amortization                         37,268
   Loss on sale of 
    equipment under lease          23,559              (8,775)
   Amortization of unearned income (1,155)             (7,528)

   Changes in assets and liabilities:
   (Increase) Decrease in accounts 
    receivable                     (2,860)             19,026
   Decrease in prepaid expenses      -                    495 
   Decrease in accounts payable    (2,454)            (54,386)
   Increase in accrued management
    fees                            2,006              17,376
   Decrease in other liabilities   (3,781)            (19,305)
                                ----------          ----------
       Net cash provided (used in) 
       by operating activities     50,117             (14,521)
                                ----------          ----------    
           
CASH FLOWS FROM INVESTING ACTIVITIES: 
  Principal payments received under                            
    direct financing leases          -                229,136
  Proceeds from sale of 
    equipment under lease           1,155               4,185 
                                ----------          ----------    
       Net cash provided by  
       investing activities         1,155             233,321 
                                ----------          ----------
CASH FLOWS FROM FINANCING ACTIVITIES: 
  Distributions to partners       (64,460)            (64,459)
  Principal payments of 
   nonrecourse debt               (46,952)           (110,000)
                                ----------          ----------    
       Net cash used in 
       financing activities      (111,412)           (174,459)
                                ----------          ---------- 
NET (DECREASE) INCREASE IN 
  CASH AND EQUIVALENTS            (60,140)             44,341 

CASH AND EQUIVALENTS, 
  at the beginning of the period   88,424              91,058 
                                ----------          ----------    
CASH AND EQUIVALENTS,
  at the end of the period    $    28,284         $   135,399   
                                ==========          ==========    
        

SUPPLEMENTAL DISCLOSURE OF 
CASH FLOW INFORMATION:
  Cash paid during the period
  for interest                $     6,695         $     8,036

<FN>
See accompanying notes to financial statements (Unaudited)
</TABLE>                                                          
                                                  Page 8 of 13    
<PAGE> 
                        
                          TRIUMPHE LEASING VIII L.P.
                         NOTES TO FINANCIAL STATEMENTS            
                           
                                         
NOTE 1 - FINANCIAL INFORMATION
     
    The financial information included herein at September 30,
1998 and each of the nine months and three months ended September
30, 1998  and September 30, 1997, is unaudited and, in the
opinion of the partnership, reflects all adjustments (which
include only normal recurring adjustments) necessary for the fair
presentations 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 September 30, 1998
was the twenty-seventh 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 

      At September 30, 1998, minimum lease payments for direct
financing and operating leases for each of the four succeeding
calendar years are expected to be received as follows: 



                              
                                           
                  YEAR                    AMOUNT                  
                                                               
                  
                  1999                     192,716 
                  2000                      92,290
                  2001                      42,540
                  2002                       7,090


                                                  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 September 30, 1998 the partnership had acquired
$19,119,937 of leased equipment with an equity investment of 
$2,157,130 and nonrecourse bank borrowing of $16,962,807.

OPERATIONS
Total revenues decreased to $139,892 for the first three quarters
of the fiscal year ending December 31, 1998 ("fiscal 1998") from
$171,142 for the first three quarters of the fiscal year ended
December 31, 1997 ("fiscal 1997").  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 three quarters of fiscal 1997 to
the first three quarters of fiscal 1998, was due primarily to the
loss of rental income attributable to the expiration of leases.
                                                     
Operating expenses decreased to $111,939 for the first three
quarters of fiscal 1998 from $379,891 for the first three
quarters of fiscal 1997.  Operating expenses consist of interest
on nonrecourse financing of equipment purchased, depreciation of
equipment, and administrative expenses.  The decrease in
operating expenses from the first three quarters of fiscal 1997
to the first three quarters of fiscal 1998 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 September 30, 1998 include undistributed cash
available from operations during the period March 27, 1992 to
September 30, 1998.  

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


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


Date                          By: /s/ Gerald A. Horwitz          
      -------------------        --------------------------------
                                 Gerald A. Horwitz 
                                 Its: General Partner

                                                  Page 13 of 13