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         March 31, 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 11
<PAGE>
<TABLE>

                               PART I
                        FINANCIAL INFORMATION

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

CURRENT ASSETS:
  Cash and equivalents            $    59,845         $    78,906
  Accounts receivable                  11,946              44,017
  Net investment in direct 
    financing leases                1,082,248           1,670,064
  Prepaid expenses                      1,486                -   
                                    ---------           --------- 
     TOTAL CURRENT ASSETS           1,155,525           1,792,987
                                    ---------           ---------
COMPUTER EQUIPMENT ON OPERATING LEASES,
  less accumulated depreciation of
  $2,302,966 and $2,208,951           449,261             543,276
                                    ---------           ---------
OTHER ASSETS:
  Net investment in direct  
      financing leases                 72,260              95,918
  Deferred organization costs,             
      less accumulated amortization             
      of $25,000 and $24,270             -                    730
                                    ---------           ---------
     TOTAL OTHER ASSETS                72,260              96,648
                                    ---------           --------- 
                                  $ 1,677,046         $ 2,432,911
                                    =========           =========

<FN> 

See accompanying notes to financial statements (Unaudited)
</TABLE>
                                                     Page 2 of 11
<PAGE>
<TABLE>

                               PART I
                        FINANCIAL INFORMATION

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

CURRENT LIABILITIES:
  Accounts payable                $   469,983         $   439,569
  Current maturities of 
      long-term debt                  974,173           1,646,827
  Other liabilities                    29,742              27,150
                                    ---------           ---------
      TOTAL CURRENT LIABILITIES     1,473,898           2,113,546
                                    ---------           ---------
LONG-TERM DEBT, 
  less current maturities             106,183             138,414
                                    ---------           ---------
      TOTAL LIABILITIES             1,580,081           2,251,960
                                    ---------           ---------
PARTNERS' EQUITY:      
  General Partners                      1,515               2,355
  Limited Partners                     95,450             178,596
                                    ---------           ---------
      TOTAL PARTNERS' EQUITY           96,965             180,951
                                    ---------           ---------
                                  $ 1,677,046         $ 2,432,911
                                    =========           =========
<FN>
See accompanying notes to financial statements (Unaudited)
</TABLE>                                                       
                                                     Page 3 of 11
<PAGE>
<TABLE>
                          
                      TRIUMPHE LEASING VIII L.P.
                       STATEMENTS OF OPERATIONS                   
<CAPTION>

                                 Three Months       Three Months
                                    Ended              Ended   
                                March 31, 1997     March 31, 1996
                                --------------     --------------
                                  (Unaudited)        (Unaudited)
<S>                               <C>               <C>
REVENUES:
  Lease Income                    $   152,788       $   531,513
  Interest Income                          45              -   
  Gain on Sale of Equipment              -               24,204 
                                    ---------         ----------
 TOTAL REVENUES                       152,833           555,717 
                                    ---------         ----------
OPERATING EXPENSES:
  Interest                             28,256            88,633
  Depreciation & Amortization          94,746           322,241
  Remarketing Commissions Paid
    to Outside Lease Brokers            1,160               482
  Administrative                       48,198            56,386 
                                    ---------         ----------  
 TOTAL OPERATING EXPENSES             172,360           467,742 
                                    ---------         ----------  
 NET (LOSS) INCOME                $  ( 19,527)      $    87,975 
                                    ==========        ==========  
              

NET (LOSS) INCOME ALLOCATED TO: 
  General Partners                $      (195)      $       880 
  Limited Partners                    (19,332)           87,095 
                                    ----------        ----------
                                  $   (19,527)      $    87,975 
                                    ==========        ==========
 
WEIGHTED AVERAGE UNITS OUTSTANDING
   DURING THE PERIOD:
   General Partners                    1.2894            1.2894
   Limited Partners                  127.6554          127.6554

(LOSS) INCOME PER WEIGHTED AVERAGE UNIT:
   General Partners                    $ (151)          $   682 
   Limited Partners                    $ (151)          $   682 

<FN>
See accompanying notes to financial statements (Unaudited)
</TABLE>                                                
                                                     Page 4 of 11
<PAGE>
<TABLE>

                           TRIUMPHE LEASING VIII L.P.
                         STATEMENT OF PARTNERS' EQUITY

                      
                       Three Months Ended March 31, 1997
                                  (Unaudited)
<CAPTION>
                                                                 
                                          GENERAL       LIMITED
                            TOTAL         PARTNERS      PARTNERS
                            -----         --------      --------
<S>                     <C>              <C>         <C>
PARTNERS' EQUITY
  Beginning of period   $   180,951      $  2,355    $   178,596

DISTRIBUTIONS               (64,459)         (645)       (63,814)
NET LOSS                    (19,527)         (195)       (19,332)
                           ---------        ------       -------- 
    
PARTNERS' EQUITY
  End of period         $    96,965      $  1,515    $    95,450 
                           ========         ======       ======== 
<FN>     
See accompanying notes to financial statements (Unaudited)
</TABLE>
                                                     Page 5 of 11
<PAGE>
<TABLE>                                              
                         TRIUMPHE LEASING VIII L.P. 
                          STATEMENTS OF CASH FLOWS 
<CAPTION>                                     
                                 Three Months       Three Months  
                                    Ended              Ended
                                March 31, 1997     March 31, 1996
                                --------------     --------------
                                  (Unaudited)        (Unaudited)
<S>                               <C>                <C> 
CASH FLOWS FROM OPERATING
   ACTIVITIES: 
  Net (loss) income               $  (19,527)        $   87,975   
  Adjustments to reconcile
  net (loss) income to net
  cash provided by operating
  activities: 
        
  Depreciation & amortization         94,746            322,241
  (Gain) on sale of equipment  
  under lease                           -               (24,204) 
  Amortization of unearned income    (32,577)           (82,099)

  Changes in assets and liabilities:
    Decrease in accounts receivable   32,071               -
    (Increase) in prepaid expenses    (1,486)            (2,176) 
    Increase in accounts payable      30,414             46,491
    Increase (Decrease) in other
     liabilities                       2,592            (37,512)
                                     -------            -------- 
       Net cash provided by  
       operating activities          106,233            310,716 
                                     -------            --------  
         
CASH FLOWS FROM INVESTING ACTIVITIES: 
  Purchase of computer equipment
    on lease                            -               (19,776)
  Principal payments received under                            
    direct financing leases          644,050            701,011
  Proceeds from sale of equipment
    under lease                         -               129,275 
                                    --------           ---------  
          
       Net cash provided by  
       investing activities          644,050            810,510 
                                   ---------           ---------  
CASH FLOWS FROM FINANCING ACTIVITIES: 
  Distributions to partners         (64,459)          (128,945)
  Proceeds from issuance of
    nonrecourse debt                   -               132,718
  Principal payments of
    nonrecourse debt               (704,885)        (1,099,246)
                                   ---------        -----------   
                
       Net cash used in
       financing activities        (769,344)        (1,095,473)
                                   ---------        -----------
NET (DECREASE) INCREASE IN CASH
 AND EQUIVALENTS                    (19,061)            25,753

CASH AND EQUIVALENTS, 
  at the beginning of the period     78,906             59,415 
                                   ---------        -----------   
          
CASH AND EQUIVALENTS,
  at the end of the period      $    59,845        $    85,168   
                                   =========        ===========   
             
SUPPLEMENTAL DISCLOSURE OF 
CASH FLOW INFORMATION:
  Cash paid during the period
    for interest                $    28,256        $    88,633

<FN>
See accompanying notes to financial statements (Unaudited)
</TABLE>
                                                     Page 6 of 11 
<PAGE>    
                          TRIUMPHE LEASING VIII L.P.
                         NOTES TO FINANCIAL STATEMENTS 
[CAPTION]                                        
                                         
NOTE 1 - FINANCIAL INFORMATION
     
         The financial information included herein at March 31,
1997 and each of the three months ended March 31, 1997, and March
31, 1996, 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 March 31, 1997 was
the twenty-first 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 two years.  The cost
of each lease includes an equity investment plus any nonrecourse
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 7 of 11 
<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 March 31, 1997: 

Total minimum lease payments to be received          $   996,025

Estimated residual values of leased property             202,972

Less: Unearned income                                    (44,489)
                                                      ----------- 
Net investment in leases                             $ 1,154,508  
                                                      =========== 

      At March 31, 1997, minimum lease payments for direct
financing and operating leases for each of the three succeeding
calendar years are expected to be received as follows: 

                                           
                  YEAR                    AMOUNT                  
                                                 
                  1997                  1,699,480             
                  1998                    130,584
                  1999                     14,452

                                                     Page 8 of 11
<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 March 31, 1997 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 $152,833 for the first quarter of the
fiscal year ending December 31, 1997 ("fiscal 1997") from
$555,717 for the first quarter 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 gain on sale of equipment.  The decrease in
total revenues from the first quarter of fiscal 1996 to the first
quarter of fiscal 1997 was due primarily to the loss of rental
income attributable to the expiration of leases.
                                                     
Operating expenses decreased to $172,360 for the first quarter of
fiscal 1997 from $467,742 for the first quarter 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 quarter of fiscal
1996 to the first quarter 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 March 31, 1997 include undistributed cash
available from operations during the period March 27, 1992 to
March 31, 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 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 9 of 11
<PAGE>

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



NONE
                                                    Page 10 of 11 
<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  May 1, 1997           By: /s/ Gerald A. Horwitz           
       --------------------      -------------------------------
                                 Gerald A. Horwitz, President
                                 of the Corporate General Partner
                                 (Principal Executive Officer) 




  Date  May 1, 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  May 1, 1997           By: /s/ Gerald A. Horwitz
       --------------------      -------------------------------- 
                                 Gerald A. Horwitz 
                                 Its: General Partner

                                                   Page 11 of 11