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


November 10, 2000


Securities and Exchange Commission
Washington, DC  20549

Gentlemen:

Pursuant to the  requirements  of the  Securities  Exchange Act of 1934,  we are
submitting  herewith  for  filing on behalf of TCC  Equipment  Income  Fund (the
"Partnership")  the  Partnership's  Quarterly  Report on Form 10-Q for the Third
Quarter ended September 30, 2000.

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 September 30, 2000


                  Commission file number 0-17688


                    TCC EQUIPMENT INCOME FUND
                A California Limited Partnership
      (Exact name of Registrant as specified in its charter)


           California                                            94-3045888
  (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 [ ]


<PAGE>
<TABLE>
<CAPTION>

TCC EQUIPMENT INCOME FUND
(a California Limited Partnership)

Quarterly Report on Form 10-Q for the
Quarter Ended September 30, 2000

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



                                                                                                      Page

<S>                                                                                                    <C>
Item 1.   Financial Statements

          Balance Sheets - September 30, 2000 (unaudited)
          and December 31, 1999...............................................................         3



          Statements of Earnings for the three and nine months
          ended September 30, 2000 and 1999 (unaudited).......................................         4



          Statements of Partners' Capital for the nine months
          ended September 30, 2000 and 1999 (unaudited).......................................         5



          Statements of Cash Flows for the nine months
          ended September 30, 2000 and 1999 (unaudited).......................................         6



          Notes to Financial Statements (unaudited)...........................................         8



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

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

TCC EQUIPMENT INCOME FUND
(a California Limited Partnership)

Balance Sheets

September 30, 2000 and December 31, 1999
(Amounts in thousands)
---------------------------------------------------------------------------------------------------------

                                                                             2000               1999
                                                                         -------------      -------------
                                                                          (unaudited)
<S>                                                                         <C>                   <C>

Assets
Container rental equipment, net of accumulated
   depreciation of $7,816 (1999:  $8,217) (note 5)                      $       9,303      $      10,675
Cash                                                                              792                862
Net investment in direct finance leases (note 4)                                   42                 42
Accounts receivable, net of allowance for doubtful
   accounts of $151 (1999:  $178)                                                 616                751
Due from affiliates, net (note 2)                                                  95                130
Prepaid expenses                                                                    -                  5
                                                                         -------------      -------------

                                                                        $      10,848      $      12,465
                                                                         =============      =============

Liabilities and Partners' Capital
Liabilities:
   Accounts payable                                                     $         131      $         136
   Accrued liabilities                                                             51                 46
   Accrued recovery costs                                                          37                 33
   Accrued damage protection plan costs                                            74                105
   Warranty claims                                                                 21                 68
                                                                         -------------      -------------

       Total liabilities                                                          314                388
                                                                         -------------      -------------

Partners' capital:
   General partners                                                                 -                  -
   Limited partners                                                            10,534             12,077
                                                                         -------------      -------------

       Total partners' capital                                                 10,534             12,077
                                                                         -------------      -------------

                                                                        $      10,848      $      12,465
                                                                         =============      =============


See accompanying notes to financial statements
</TABLE>


<PAGE>
<TABLE>
<CAPTION>


TCC EQUIPMENT INCOME FUND
(a California Limited Partnership)

Statements of Earnings

For the three and nine months ended September 30, 2000 and 1999
(Amounts in thousands except for unit and per unit amounts)
(unaudited)
------------------------------------------------------------------------------------------------------------------------------------

                                                            Three months       Three months         Nine months         Nine months
                                                                Ended              Ended               Ended               Ended
                                                           Sept. 30, 2000      Sept. 30, 1999     Sept. 30, 2000     Sept. 30, 1999
                                                           ---------------    ----------------    ---------------    ---------------
<S>                                                               <C>                <C>                <C>              <C>
Rental income                                             $           697    $           773    $         2,207    $          2,423
                                                           ---------------    ---------------    ---------------    ----------------

Costs and expenses:
   Direct container expenses                                           95                190                345                 633
   Bad debt expense (benefit)                                           -                 22                (12)                 60
   Depreciation (note 5)                                              259                289                805                 942
   Professional fees                                                   16                 28                 53                  52
   Management fees to affiliates (note 2)                              79                107                244                 315
   General and administrative costs to
     affiliates (note 2)                                               37                 34                109                 133
   Other general and administrative costs                              11                 12                 36                  38
                                                           ---------------    ---------------    ---------------    ----------------

                                                                      497                682              1,580               2,173
                                                           ---------------    ---------------    ---------------    ----------------

   Income from operations                                             200                 91                627                 250
                                                           ---------------    ---------------    ---------------    ----------------

Other income (expense):
   Interest income                                                      9                 10                 30                  38
   Gain (loss) on sale of containers (note 5)                          22                (56)                86                 (65)
                                                           ---------------     ---------------    ---------------   ----------------

                                                                       31                (46)               116                 (27)
                                                           ---------------    ---------------    ---------------    ----------------

    Net earnings                                          $           231    $            45    $           743    $            223
                                                           ===============    ===============    ===============    ================

Allocation of net earnings (note 2):
   General partners                                       $             9    $            17    $            29    $             47
   Limited partners                                                   222                 28                714                 176
                                                           ---------------    ---------------    ---------------    ----------------

                                                          $           231    $            45    $           743    $            223
                                                           ===============    ===============    ===============    ================
Limited partners' per unit share
   of net earnings                                        $          0.15    $          0.02    $          0.49    $           0.12
                                                           ===============    ===============    ===============    ================

Limited partners' per unit share
   of distributions                                       $          0.50    $          0.85    $          1.50    $           2.35
                                                           ===============    ===============    ===============    ================

Weighted average number of limited
   partnership units outstanding                                1,458,354          1,467,029          1,464,137           1,467,029
                                                           ===============    ===============    ===============    ================



See accompanying notes to financial statements
</TABLE>


<PAGE>
<TABLE>
<CAPTION>


TCC EQUIPMENT INCOME FUND
(a California Limited Partnership)

Statements of Partners' Capital

For the nine months ended September 30, 2000 and 1999
(Amounts in thousands)
(unaudited)
------------------------------------------------------------------------------------------------------

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

Balances at January 1, 1999                 $            -      $        15,873       $        15,873

Distributions                                          (47)              (3,449)               (3,496)

Redemptions (note 6)                                     -                  (15)                  (15)

Net earnings                                            47                  176                   223
                                             --------------      ---------------       ---------------

Balances at September 30, 1999              $            -      $        12,585       $        12,585
                                             ==============      ===============       ===============

Balances at January 1, 2000                 $            -      $        12,077       $        12,077

Distributions                                          (29)              (2,201)               (2,230)

Redemptions (note 6)                                     -                  (56)                  (56)

Net earnings                                            29                  714                   743
                                             --------------      ---------------       ---------------

Balances at September 30, 2000              $            -      $        10,534       $        10,534
                                             ==============      ===============       ===============



See accompanying notes to financial statements
</TABLE>


<PAGE>
<TABLE>
<CAPTION>


TCC EQUIPMENT INCOME FUND
(a California Limited Partnership)

Statements of Cash Flows

For the nine months ended September 30, 2000 and 1999
(Amounts in thousands)
(unaudited)
---------------------------------------------------------------------------------------------------------------


                                                                                 2000                 1999
                                                                            --------------       --------------
<S>                                                                              <C>                <C>

Cash flows from operating activities:
      Net earnings                                                         $          743       $          223
      Adjustments to reconcile net earnings to
        net cash provided by operating activities:
          Depreciation (note 5)                                                       805                  942
          (Decrease) increase in allowance for doubtful accounts                      (27)                  51
          (Gain) loss on sale of containers (note 5)                                  (86)                  65
          (Increase) decrease in assets:
             Net investment in direct finance leases                                   13                   13
             Accounts receivable                                                      162                  121
             Due from affiliates, net                                                   3                   50
             Prepaid expenses                                                           5                    6
          Increase (decrease) in liabilities:
             Accounts payable and accrued liabilities                                   -                   24
             Accrued recovery costs                                                     4                    9
             Damage protection plan costs                                             (31)                  21
             Warranty claims                                                          (47)                 (48)
                                                                            --------------       --------------


                Net cash provided by operating activities                           1,544                1,477
                                                                            --------------       --------------

Cash flows from investing activities:
      Proceeds from sale of containers                                                673                  857
                                                                            --------------       --------------

                Net cash provided by investing activities                             673                  857
                                                                            --------------       --------------

Cash flows from financing activities:
      Redemptions of limited partnership units                                        (56)                 (15)
      Distributions to partners                                                    (2,231)              (3,495)
                                                                            --------------       --------------

                Net cash used in financing activities                              (2,287)              (3,510)
                                                                            --------------       --------------

Net decrease in cash                                                                  (70)              (1,176)

Cash at beginning of period                                                           862                1,959
                                                                            --------------       --------------

Cash at end of period                                                      $          792       $          783
                                                                            ==============       ==============


See accompanying notes to financial statements
</TABLE>

<PAGE>
<TABLE>
<CAPTION>

TCC EQUIPMENT INCOME FUND
(a California Limited Partnership)


Statements Of Cash Flows--Continued

For the nine months ended September 30, 2000 and 1999
(Amounts in thousands)
(unaudited)
----------------------------------------------------------------------------------------------------------

Supplemental Disclosures:

Supplemental schedule of non-cash investing and financing activities:

The following  table  summarizes  the amounts of  distributions  to partners and
proceeds  from sale of  containers  which had not been  paid or  received  as of
September  30,  2000 and 1999,  and  December  31, 1999 and 1998,  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 nine-month periods
ended September 30, 2000 and 1999.

                                                              Sept. 30      Dec. 31      Sept. 30      Dec. 31
                                                                2000         1999          1999          1998
                                                             ---------    ---------    -----------    --------
<S>                                                              <C>          <C>          <C>           <C>

Distributions to partners included in:
     Due to affiliates..............................             $   2        $   3           $  3        $  2

Proceeds from sale of containers included in:
     Due from affiliates............................               117          150            188         204

The following  table  summarizes  the amounts of  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  nine-month
periods ended September 30, 2000 and 1999.

                                                                                              2000        1999
                                                                                              ----        ----

Distributions to partners declared................................................         $ 2,230      $3,496
Distributions to partners paid....................................................           2,231       3,495

Proceeds from sale of containers recorded.........................................             640         841
Proceeds from sale of containers received.........................................             673         857


See accompanying notes to financial statements
</TABLE>


<PAGE>


TCC EQUIPMENT INCOME FUND
(a California Limited Partnership)

Notes To Financial Statements

For the three and nine months ended September 30, 2000 and 1999
(Amounts in thousands except for unit and per unit amounts)
(unaudited)
--------------------------------------------------------------------------------

Note 1.   General

      TCC  Equipment  Income  Fund  (the  Partnership),   a  California  limited
      partnership  with a maximum  life of 20  years,  was  formed in 1987.  The
      Partnership owns a fleet of intermodal marine cargo containers,  which are
      leased to international shipping lines.

      In January 1998,  the  Partnership  ceased  purchasing  containers  and in
      October 1998, the Partnership began its liquidation  phase. This phase may
      last between two to six or more years  depending on whether the containers
      are sold (i) in one or more large transactions,  or (ii) gradually as they
      reach the end of their useful  marine lives or when an analysis  indicates
      that their sale is warranted  based on the container's  age,  location and
      condition.  The  Partnership  anticipates  that  all  excess  cash,  after
      redemptions  and working  capital  reserves,  will be  distributed  to the
      limited and general partners on a quarterly basis.

      The  final  termination  and  winding  up of the  Partnership,  as well as
      payment of liquidating and/or final  distributions,  will occur at the end
      of  the  liquidation   phase  when  all  or   substantially   all  of  the
      Partnership's  containers  have been sold and the  Partnership  begins its
      dissolution.

      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 September  30,  2000  and  December  31,  1999
      and  the results of  its operations, changes in partners' capital and cash
      flows for  the nine-month periods ended September 30, 2000  and 1999, 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
      December 31, 1999, 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.  Actual  results  could  differ  from those
      estimates.

Note 2.   Transactions with Affiliates

      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  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 3.11,
      net earnings or losses and distributions are generally allocated 1% to the
      General Partners and 99% to the Limited Partners.  Effective October 1998,
      the allocation of  distributions  to the General Partners was increased to
      1.3% in  accordance  with section 2.05 of the  Partnership  Agreement.  In
      addition, if the allocation of distributions exceeds the allocation of net
      earnings and creates a deficit in the General Partners'  aggregate 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.  The  Partnership  incurred $31 and $93 of
      incentive  management  fees during the three and nine-month  periods ended
      September 30, 2000,  respectively,  and $53 and $146 during the comparable
      periods in 1999, respectively. There were no acquisition fees or equipment
      liquidation  fees incurred  during the nine-month  periods ended September
      30, 2000 and 1999.

      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
      September 30, 2000 and December 31, 1999.

      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 $48 and $151 for the three and nine-month  periods ended September
      30, 2000, respectively, and $54 and $169, respectively, for the comparable
      periods in 1999, respectively.  The Partnership's containers are leased by
      TEM to third party lessees on operating master leases,  spot leases,  term
      leases and direct finance leases. The majority of the leases are operating
      master leases with limited terms and no purchase option.

      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 TEM and TFS.  Total  general  and
      administrative  costs  allocated to the  Partnership  during the three and
      nine-month periods ended September 30, 2000 and 1999 were as follows:

                                        Three months               Nine months
                                       ended Sept. 30,           ended Sept. 30,
                                       ---------------           ---------------
                                       2000       1999           2000       1999
                                       ----       ----           ----       ----

      Salaries                          $19        $19           $ 56       $ 73
      Other                              18         15             53         60
                                         --         --            ---        ---
       Total general and
          administrative costs          $37        $34           $109       $133
                                         ==         ==            ===        ===


      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  based on the  ratio of the  Partnership's  containers  to the total
      container  fleet of all limited  partnerships  managed by TFS. The General
      Partners allocated the following general and  administrative  costs to the
      Partnership  during the three and nine-month  periods ended  September 30,
      2000 and 1999:


                                        Three months               Nine months
                                       ended Sept. 30,           ended Sept. 30,
                                       ----------------        -----------------
                                       2000        1999          2000       1999
                                       ----        ----          ----       ----

      TEM                               $31         $29          $ 93       $118
      TFS                                 6           5            16         15
                                         --          --           ---        ---
       Total general and
         administrative costs           $37         $34          $109       $133
                                         ==          ==           ===        ===


      At September 30, 2000 and December 31, 1999, due from  affiliates,  net is
      comprised of:


                                                                2000        1999
      Due from affiliates:                                      ----        ----
          Due from TEM..............................            $138        $161
                                                                 ---         ---

      Due to affiliates:
          Due to TCC................................              14           3
          Due to TFS................................              29          28
                                                                 ---         ---
                                                                  43          31
                                                                 ---         ---

      Due from affiliates, net                                  $ 95        $130
                                                                 ===         ===

      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
      and fees  described  above and in the accrual and remittance of net rental
      revenues and sales proceeds from TEM.

Note 3.   Rentals Under Long-Term Operating Leases

      The following are the future rent receivables  under cancelable  long-term
      operating leases at September 30, 2000.  Although the leases are generally
      cancelable  with a penalty  at the end of each  twelve-month  period,  the
      following schedule assumes that the leases will not be terminated.

           Year ending September 30:

           2001...........................................                  $237
           2002...........................................                   144
           2003...........................................                   126
           2004...........................................                   102
           2005...........................................                   100
                                                                             ---

           Total future rentals receivable................                  $709
                                                                             ===


Note 4.   Direct Finance Leases

      The  Partnership  has leased  containers  under direct finance leases with
      terms ranging from two to five years. The components of the net investment
      in direct  finance  leases at September 30, 2000 and December 31, 1999 are
      as follows:

                                                             2000          1999
                                                             ----          ----

      Future minimum lease payments receivable............    $49           $49
      Residual value......................................      1             3
      Less:  unearned income..............................     (8)          (10)
                                                               --            --

      Net investment in direct finance leases.............    $42           $42
                                                               ==            ==

      The following is a schedule by year of minimum lease  payments  receivable
      under direct finance leases as of September 30, 2000:

      Year ending September 30:

      2001...............................................               $22
      2002...............................................                15
      2003...............................................                 8
      2004...............................................                 4
                                                                         --

      Total minimum lease payments receivable............               $49
                                                                         ==

      Rental income for the three and  nine-month  periods  ended  September 30,
      2000   includes  $2  and  $3  of  income  from  direct   finance   leases,
      respectively,  and income of $1 and $4 for the comparable  period in 1999,
      respectively.





Note 5. Container Rental Equipment Write-Down

      New container  prices steadily  declined from 1995 through 1999.  Although
      container prices increased in 2000, the cost of new containers at year-end
      1998,  during 1999 and the first three quarters of 2000 was  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 September 30, 2000 and 1999 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 these  containers  was required.  The
      Partnership  wrote down the value of these  containers to their  estimated
      fair value, which was based on recent sales prices less cost to sell.

      During the nine-month  period ended  September 30, 2000,  the  Partnership
      recorded  additional   depreciation  expense  of  $64  on  144  containers
      identified for sale and sold 158 previously  written down containers for a
      loss of $4. During the  nine-month  period ended  September 30, 1999,  the
      Partnership  recorded  an  additional  depreciation  expense of $79 on 186
      containers  identified  for  sale and sold  195  previously  written  down
      containers for a gain of $3.  Additionally,  during the nine-month periods
      ended  September 30, 2000 and 1999, the  Partnership  sold containers that
      had not been  written-down  and  recorded a gain of $90 and a loss of $68,
      respectively.

      As more containers are subsequently identified as for sale or if container
      sales prices decline, the Partnership may incur additional  write-downs on
      containers  and/or  may  incur  losses  on the  sale  of  containers.  The
      Partnership  cautions  that a  write-down  of container  rental  equipment
      and/or an  increase  in its  depreciation  rate may be  required in future
      periods for some or all of its container rental equipment.
<PAGE>

Note 6.   Redemptions

      The  following  redemption  offering was  consummated  by the  Partnership
      during the nine-month periods ended September 30, 2000 and 1999:

<TABLE>
<CAPTION>

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

       Total Partnership redemptions as of
       December 31, 1998.........................           5,775           $9.35                 $54

       Quarter ended:
         March 31, 1999..........................           1,750           $8.57                 $15
                                                            -----                                  --
       Partnership through September 30, 1999....           7,525           $9.17                 $69
                                                            =====                                  ==





                                                           Units           Average
                                                          Redeemed     Redemption Price      Amount Paid
                                                          --------    -----------------      ------------

       Total Partnership redemptions as of
       December 31, 1999.........................           7,525           $9.17                $ 69

       Quarter ended:
         September 30, 2000......................           8,675           $6.45                $ 56
                                                           ------                                 ---
       Partnership through September 30, 2000....          16,200           $7.72                $125
                                                           ======                                 ===


      The redemption price is fixed by formula.
</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  as of and  for  the  three  and
nine-month  periods  ended  September  30,  2000 and 1999.  Please  refer to the
Financial  Statements  and  Notes  thereto  in  connection  with  the  following
discussion.

Liquidity and Capital Resources

From  October  1987  until  October  1989,  the   Partnership   offered  limited
partnership  interests  to the  public.  The  Partnership  received  its minimum
subscription  amount of $1,000 on April 8, 1988,  and on October 26,  1989,  the
Partnership's offering of limited partnership interests was closed at $29,491.

In October 1998, the Partnership  entered its liquidation  phase, which may last
between two to six or more years  depending on whether the  containers  are sold
(i) in one or more large  transactions or (ii)  gradually,  either as they reach
the end of their useful  marine lives or when an analysis  indicates  that their
sale is warranted based on existing market  conditions and the container's  age,
location and condition.  The Partnership anticipates that all excess cash, after
redemptions and working capital reserves, will be distributed to the general and
limited partners on a quarterly basis. These  distributions will consist of cash
from operations and/or cash from sales proceeds. As the Partnership's  container
fleet decreases,  cash from operations is expected to decrease,  while cash from
investing  activities is expected to fluctuate based on the number of containers
sold and the  actual  sales  price per  container  received.  Consequently,  the
Partnership anticipates that a large portion of all future distributions will be
a return of capital.

The final  termination and winding up of the Partnership,  as well as payment of
liquidating and/or final distributions, will occur at the end of the liquidation
phase when all or substantially  all of the  Partnership's  containers have been
sold and the Partnership begins its dissolution.

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 nine month period ended September 30,
2000, the Partnership redeemed 8,675 units for a total dollar amount of $56. The
Partnership used cash flow from operations to pay for the redeemed units.

The  Partnership  invests  working  capital  and cash flow from  operations  and
investing  activities  prior to its  distribution to the partners in short-term,
liquid  investments.  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.

During the nine-month period ended September 30, 2000, the Partnership  declared
cash distributions to limited partners  pertaining to the fourth quarter of 1999
through  the  second  quarter  of 2000 in the  amount  of  $2,201.  This  amount
represents $1.50 per unit, or 7.5% of the Limited Partner's original investment.
On a cash  basis,  $1,488 of total  distributions  was from  operations  and the
balance was a return of capital.  On a GAAP basis, $1,487 of total distributions
was a return of capital and the balance was from net income.

Net cash  provided by operating  activities  for the  nine-month  periods  ended
September 30, 2000 and 1999, was $1,544 and $1,477,  respectively.  The increase
of $67, or 5%, was  primarily  attributable  to the  increase  in net  earnings,
adjusted  for  non-cash  transactions,  offset  by  the  fluctuation  in  damage
protection   plan  costs  and  fluctuations  in  due  from  affiliates, net. Net
earnings,  adjusted for non-cash  transactions  increased  primarily  due to the
decrease in direct container expenses,  and was partially offset by the decrease
in rental income. The decrease in accrued  damage  protection  plan costs during
the nine months ended September 30, 2000 was  primarily due to a decrease in the
number  of  units  covered under  the damage  protection  plan. These  items are
discussed more fully under "Results of Operations". The fluctuations in due from
affiliates, net,  resulted from timing  differences  in  payment of expenses and
fees and  the remittance  of net rental revenues,  as well as in fluctuations in
these amounts.

For the  nine-month  period  ended  September  30,  2000  net cash  provided  by
investing  activities (the sale of containers) was $673 compared to $857 for the
comparable  period  in  1999.  The  decrease  of $184 was  primarily  due to the
Partnership   selling  fewer  containers  during  the  nine-month  period  ended
September  30,  2000  compared  to the  equivalent  period in 1999.  Some of the
containers sold in 1999 and 2000 were located in low demand locations, and these
sales were driven not only by the liquidation plans discussed above, but also by
adverse  market  conditions in these  locations.  However,  there were fewer low
demand locations and fewer containers in these locations in 2000, primarily as a
result of  previous  sales  efforts,  resulting  in the decline in the number of
containers  sold.  Despite  a slight  improvement  in the sales  price  recently
realized on container  sales,  the sales price for containers  sold in these low
demand locations has continued to be adversely affected.  The sale of containers
and  these  market  conditions  are  discussed  more  fully  under  "Results  of
Operations".

Results of Operations

The  Partnership's  income from operations,  which consists  primarily of rental
income, container depreciation,  direct container expenses, management fees, and
reimbursement of administrative expenses was directly related to the size of the
container fleet during the nine-month periods ended September 30, 2000 and 1999,
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:


                                                            2000            1999
                                                            ----            ----

               Beginning container fleet...............    5,771           6,769
               Ending container fleet..................    5,271           6,075
               Average container fleet.................    5,521           6,422

The average  container  fleet  decreased  14% from the  nine-month  period ended
September 30, 1999 to the equivalent  period in 2000 due to the continuing  sale
of containers (i) that had reached the end of their useful lives or (ii) that an
analysis had indicated that their sale was warranted based on market  conditions
and the container's age,  location and condition.  Included in this second group
were containers  located in low demand locations.  The Partnership  expects that
the size of its container  fleet will further  decline as additional  containers
are sold for these  reasons and as the  Partnership  continues  its  liquidation
plans.  The decline in the container fleet has contributed to an overall decline
in rental income from the three and nine-month  periods ended September 30, 1999
to the  equivalent  periods in 2000.  This  decline is  expected  to continue in
future years,  as the size of the  Partnership's  container  fleet  continues to
decrease.

Rental income and direct container expenses are also affected by the utilization
of the container  fleet,  which was 80% and 72% on average during the nine-month
periods ended  September 30, 2000 and 1999,  respectively.  In addition,  rental
income is affected  by daily  rental  rates,  which have  decreased  between the
periods, as described below.

The  following is a comparative  analysis of the results of  operations  for the
nine-month periods ended September 30, 2000 and 1999.

The  Partnership's  income from  operations  for the  nine-month  periods ending
September 30, 2000 and 1999 was $627 and $250, respectively, on rental income of
$2,207 and $2,423,  respectively.  The decrease in rental income of $216, or 9%,
from the nine-month  period ended September 30, 1999 to the comparable period in
2000 was  attributable to a decrease in income from container  rentals and other
rental  income.  Income from  container  rentals,  the major  component of total
revenue,  decreased  $127,  or 6%,  primarily  due to  decreases  in the average
container fleet of 14% and average rental rates of 4%, offset by the increase in
average on-hire utilization of 11%.

The  improvement in  utilization  was due to  improvements  in demand for leased
containers and in the trade balance, primarily as a result of the improvement in
certain Asian  economies and a related  increase in exports out of Europe.  This
improvement  in demand,  coupled with container  lessors'  efforts to sell older
containers in low demand locations, has also reduced the container surplus.

However, the trade imbalance between Asia and North America still exists, and as
a consequence,  the build-up of  containers,  primarily on the East Coast of the
United States,  persists.  The Partnership has been unable to reposition a large
number of newer  containers to higher demand  locations in Asia,  due to lack of
available vessel capacity from the United States East Coast ports.

As a result,  the Partnership  continues to sell some containers  located in low
demand  locations.  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 during 1999 and 2000 were older containers.  The
expected  economic  benefit of  continuing  to own these  older  containers  was
significantly less than that of newer containers  primarily due to their shorter
remaining marine life, the cost to reposition containers and the shipping lines'
preference for leasing newer containers when they are available.

Once the decision had been made to sell  containers,  if the book value of these
containers was greater than the estimated fair value, the Partnership wrote down
the value of these  specifically  identified  containers to their estimated fair
value, which was based on recent sales prices. Due to unanticipated  declines in
container  sales prices  during 1999,  the actual sales prices  received on some
containers were lower than the estimates used for the  write-down,  resulting in
the  Partnership  incurring  losses  upon the sale of some of these  containers.
Until the trade balance between Asia and North America improves, the Partnership
may incur  further  write-downs  and/or  losses on the sale of such  containers.
Should the decline in economic value of continuing to own such  containers  turn
out  to  be  permanent,   the  Partnership  may  be  required  to  increase  its
depreciation rate or write-down the value on some or all of its container rental
equipment.

The decline in the purchase price of new  containers  and the container  surplus
mentioned  above have  resulted in the decline in rental rates in recent  years.
However,  as a result of the improvement in demand and increases in the purchase
price of new  containers,  rental rates have  stabilized  during the first three
quarters of 2000.

The General  Partners are  cautiously  optimistic  that rental rates will remain
stable and the current level of utilization  will be maintained  during 2000 and
may improve if demand for leased  containers  and the trade balance  continue to
improve. However, the General Partners caution that utilization, lease rates and
container sale prices could also decline,  adversely affecting the Partnership's
operating results.

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 and  returning  containers
(handling  income)  and income from  charges to lessees for a Damage  Protection
Plan (DPP).  For the nine-month  period ended  September 30, 2000,  other rental
income  was $209,  a decrease  of $89 from the  equivalent  period in 1999.  The
decrease in other rental  income was primarily due to the decrease in fleet size
and additional  decreases in DPP and location income.  The additional decline in
DPP was  primarily  due to the decline in the number of units covered under DPP.
The  further  decline in  location  income  was due to a decrease  in charges to
lessees for dropping off containers in certain  locations,  offset by a decrease
in credits granted for picking up containers in surplus locations.

Direct  container  expenses  decreased $288, or 45%, from the nine-month  period
ending  September 30, 1999 to the  equivalent  period in 2000.  The decrease was
primarily due to decreases in storage,  DPP and repositioning  expenses of $134,
$70 and $33,  respectively.  The  decrease in these  expenses,  as well as other
direct  container  expenses,  was partially  due to the overall  decrease in the
average container fleet. Storage expense further declined due to the improvement
in utilization  noted above and a lower average storage cost per container.  DPP
expense  further  declined  primarily  due to a decrease  in the number of units
covered under DPP.  Repositioning  expense further  declined as there were fewer
containers  repositioned,  offset by a higher average  repositioning cost due to
the high demand for limited vessel capacity noted above.

Bad debt expense  decreased from an expense of $60 during the nine-month  period
ended  September  30, 1999 to a benefit of $12 for the same period in 2000.  The
benefit  recorded for the nine-month  period ended September 30, 2000 was due to
overall lower required reserves at September 30, 2000 than at December 31, 1999.

Depreciation  expense  decreased $137, or 15%, from the nine-month  period ended
September 30, 1999 to the comparable period in 2000 primarily due to the decline
in average fleet size.

New  container  prices  steadily  declined  from  1995  through  1999.  Although
container prices increased in 2000, the cost of new containers at year-end 1998,
during 1999 and the first three quarters of 2000 was 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
September  30, 2000 and 1999 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 these  containers  was
required.  The  Partnership  wrote down the value of these  containers  to their
estimated fair value, which was based on recent sales prices less cost to sell.

During the nine-month period ended September 30, 2000, the Partnership  recorded
additional depreciation expense of $64 on 144 containers identified for sale and
sold  158  previously  written  down  containers  for a loss of $4.  During  the
nine-month  period  ended  September  30,  1999,  the  Partnership  recorded  an
additional depreciation expense of $79 on 186 containers identified for sale and
sold 195  previously  written down  containers  for a gain of $3.  Additionally,
during the nine month periods ended September 30, 2000 and 1999, the Partnership
sold containers that had not been  written-down and recorded a gain of $90 and a
loss of $68, respectively.

As more  containers are  subsequently  identified for sale or if container sales
prices decline,  the Partnership may incur additional  write-downs on containers
and/or may incur losses on the sale of containers.

Management  fees to affiliates  decreased $71 or 23% from the nine-month  period
ended  September  30,  1999 to the  same  period  in 2000  due to  decreases  in
incentive and equipment  management fees.  Incentive  management fees, which are
based on the Partnership's  limited and general partner distribution  percentage
and initial  partners'  capital,  decreased $53, or 36%,  primarily due to lower
distributions paid during the nine-month period ended September 30, 2000 than in
the equivalent period in 1999. Equipment management fees decreased primarily due
to the  decrease  in rental  income  upon which  equipment  management  fees are
primarily  based.  These fees were  approximately  7% of rental  income for both
periods.

General and administrative  costs to affiliates  decreased $24, or 18%, from the
nine-month  period ended  September  30, 1999 to the  comparable  period in 2000
primarily  due to the  decrease  in  overhead  costs  allocated  by TEM,  as the
Partnership represented a smaller portion of the total fleet managed by TEM.

Other income  increased  $143 from an expense of $27 for the  nine-month  period
ended  September  30, 1999 to income of $116 for the  comparable  period in 2000
primarily  due to gain (loss) on sale of containers  fluctuating  from a loss of
$65 to a gain of $86.

Net earnings per limited partnership unit increased from $0.12 to $0.49 from the
nine-month  period  ended  September  30,  1999  to the  same  period  in  2000,
reflecting the increase in net earnings  allocated to limited partners from $176
to $714,  respectively.  The  allocation  of net  earnings  included  a  special
allocation of gross income to the General  Partners made in accordance  with the
Partnership Agreement.


The  following is a comparative  analysis of the results of  operations  for the
three-month periods ended September 30, 2000 and 1999.

The  Partnership's  income from  operations for the  three-month  periods ending
September 30, 2000 and 1999 was $200 and $91, respectively,  on rental income of
$697 and $773, respectively.  The decrease in rental income of $76, or 10%, from
the three-month period ended September 30, 1999 to the comparable period in 2000
was attributable to a decrease in income from container rentals and other rental
income.  Income from container  rentals  decreased $25, or 4%,  primarily due to
decreases in the average  container fleet of 14% and average rental rates of 3%,
offset by the increase in average on-hire utilization of 13%.

For the  three-month  period ended  September 30, 2000,  other rental income was
$48, a decrease of $51 from the equivalent period in 1999. The decrease in other
rental  income  was  primarily  due  to  the  decrease further in fleet size and
additional  decreases in  DPP  and location  income. DPP income further declined
primarily due to a refund  of  $16  to  one  lessee  as  a result of  the lessee
canceling  their DPP  coverage  in July, 2000. The  Partnership  also recorded a
decrease in previously  accrued damage  protection plan costs  related  to units
on  lease  to  this lessee as a  result of  this cancellation,  resulting  in a
decrease to DPP expense of $27. The further  decline in location  income was due
to a  decrease in  charges to lessees for  dropping  off  containers in  certain
locations  and an increase  in credits granted  for picking  up  containers from
surplus locations.

Direct  container  expenses  decreased $95, or 50%, from the three-month  period
ending  September 30, 1999 to the  equivalent  period in 2000.  The decrease was
primarily  due to the  decreases  in storage  and DPP  expenses  of $45 and $39,
respectively.  The decrease in these expenses, as well as other direct container
expenses,  was  partially due to the overall  decrease in the average  container
fleet.  Storage expense  further  declined due to the improvement in utilization
noted above and a lower average storage cost per container.  DPP expense further
declined  primarily due to  the reduction  in  the DPP reserve  as a result of a
lessee canceling their DPP coverage as described above.

Bad debt expense  decreased from an expense of $22 from the  three-month  period
ended  September  30,  1999 to $0 for the  comparable  period in 2000.  Bad debt
expense was $0 for the three month period ended  September 30, 2000 as there was
no change in the reserve requirement from June 30, 2000 to September 30, 2000.

Depreciation  expense  decreased $30, or 10%, from the three-month  period ended
September 30, 1999 to the comparable period in 2000 primarily due to the decline
in average fleet size, offset by a larger write-down of containers identified as
for sale  during the three month  period  ended  September  30, 2000 than in the
comparable period in 1999.

Management fees to affiliates  decreased $28 or 26% from the three-month  period
ended  September  30,  1999 to the same period in 2000 due to the  decreases  in
incentive  management and equipment  management fees.  Incentive management fees
decreased $22 or 42% from the three-month period ended September 30, 1999 to the
same  period  in 2000  primarily  due to lower  distributions  paid  during  the
three-month  period ended  September 30, 2000 than in the  equivalent  period in
1999.  Equipment  management  fees,  which are primarily based on gross revenue,
decreased  primarily due to the decrease in rental income and were approximately
7% of rental income for both periods.

General and  administrative  costs to  affiliates  increased $3, or 9%, from the
three-month  period ended  September 30, 1999 to the  comparable  period in 2000
primarily due to the increase in overhead costs allocated by TEM and TCC.

Other income increased $77 from the three-month  period ended September 30, 1999
to the  comparable  period  in 2000,  primarily  due to gain  (loss)  on sale of
containers fluctuating from a loss of $56 to a gain of $22.

Net earnings per limited partnership unit increased from $0.02 to $0.15 from the
three-month  period  ended  September  30,  1999 to the  same  period  in  2000,
reflecting the increase in net earnings  allocated to limited  partners from $28
to $222,  respectively.  The  allocation  of net  earnings  included  a  special
allocation of gross income to the General  Partners made in accordance  with the
Partnership Agreement.

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.  The General  Partners are not
aware of any  conditions as of September 30, 2000,  which would result in such a
risk materializing.

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,  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.

Forward Looking Statements

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.


<PAGE>

                                   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.


                            TCC EQUIPMENT INCOME FUND
                            A California Limited Partnership

                            By Textainer Financial Services Corporation
                            The Managing General Partner



                            By _______________________________
                               Ernest J. Furtado
                               Senior Vice President


Date:  November 10, 2000

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:
<TABLE>
<CAPTION>


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


________________________                 Senior Vice President,                         November 10, 2000
Ernest J. Furtado                        (Principal Financial and
                                         Accounting Officer) and
                                         Secretary




________________________                 President (Principal Executive                 November 10, 2000
John A. Maccarone                        Officer)


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


                                   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.


                            TCC EQUIPMENT INCOME FUND
                            A California Limited Partnership

                            By Textainer Financial Services Corporation
                            The Managing General Partner



                            By /s/Ernest J. Furtado
                            _____________________________________
                            Ernest J. Furtado
                            Senior Vice President


Date:  November 10, 2000


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
____________________________             Senior Vice President,                         November 10, 2000
Ernest J. Furtado                        (Principal Financial and
                                         Accounting Officer) and
                                         Secretary



/s/John A. Maccarone                     President (Principal Executive                 November 10, 2000
____________________________             Officer)
John A. Maccarone

</TABLE>