ANNUAL REPORT FOR SMALL BUSINESS ISSUERS SUBJECT
TO THE 1934 ACT REPORTING REQUIREMENTS

U.S. SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C.  20549

FORM 10-KSB

[X]     ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE
        SECURITIES EXCHANGE ACT OF 1934 [Fee Required]

For the Fiscal Year ended September 30, 1999

Commission file number 0-8463

PISMO COAST VILLAGE, INC.
(Name of small business issuer in its charter)

California                                 95-2990441
(State or other jurisdiction       (IRS Employer ID Number)
of incorporation or organization)

165 South Dolliver Street, Pismo Beach, CA  93449
(Address of Principal Executive Offices)   (Zip Code)

Issuer's telephone number (805)773-5649

Securities registered pursuant to Section 12(b) of the Act:

 Title of Each Class                Name of Each Exchange
                                     on Which Registered.
        N/A                                   N/A

Securities registered pursuant to Section 12(g) of the Act:

  Common Stock
(Title of Class)

     Check whether the issuer (1) filed all reports required to
be filed by Section 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 90 days past. YES  XX  NO __

     Check if there is no disclosure of delinquent filers in
response to Item 405 of Regulation S-B is not contained in this
form, and no disclosure will be contained, to the best of
registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-
KSB or any amendment to this Form 10-KSB.  XX


State issuer's revenues for its most recent fiscal year.
 $2,988,412

State the aggregate market value of the voting stock held by non-
affiliates computed by reference to the price at which the stock
was sold, or the average bid and asked prices of such stock, as
of a specified date within the past 60 days (See definition of
affiliate in Rule 12b-2 of the Exchange Act).  $16,824,500.00


State the number of shares outstanding of each of the issuer's
classes of common equity, as of the latest practicable date.
 1,800

Statements in this Annual Report on Form 10-KSB which express the
`Belief', `Anticipation', `Intention' or `Expectation', as well
as other statements which are not historical fact, and statements
as to business opportunities, market conditions, and operating
performance insofar as they may apply prospectively, are forward-
looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995 and involve risks and uncertainties
that could cause actual results to differ materially from those
projected.

FORM 10-KSB PART I

ITEM 1     DESCRIPTION OF BUSINESS
(a)     GENERAL DEVELOPMENT OF BUSINESS

Pismo Coast Village, Inc., the "Registrant" or the "Company" was
incorporated under the laws of the State of California on April
2, 1975.  The Company's sole business is owning and operating a
recreational vehicle resort (hereinafter the "Resort") in Pismo
Beach, California.  The Resort has continued to enhance its
business by upgrading facilities and services to better serve
customers.

(b)     BUSINESS OF ISSUER
The Company is engaged in only one business, namely, the
ownership and operation of the Resort.  The Company generates
revenue from rental of camping sites, recreational vehicle
storage, recreational vehicle repair and retail sales from a
general store and recreational vehicle parts store.  Accordingly,
all of the revenues, operating profit (loss) and identifiable
assets of the Company, are attributable to a single industry
segment.

Pismo Coast Village, Inc., is a full-service 400 space
recreational vehicle resort.  Its resort operations include site
rentals, RV storage business, video arcade, Laundromat, and other
income sources related to the operation.  The retail operations
include a general store, RV parts store, and RV repair shop.  In
addition, the Company has a recreation department that provides a
youth program and recreational equipment rentals.

PUBLIC AND SHAREHOLDER USERS
The present policy of the Company is to offer each shareholder
the opportunity for 45 days of free use of sites at the Resort,
25 days may be used during prime time and 20 days during non-
prime time.  The free use of sites by shareholders is managed by
designating the days of the year as prime time and non-prime
time.  A prime time day is one that is most in demand, for
example Memorial Day Weekend and the period from mid-June until
Labor Day.  Non-prime time is that time with the least demand.
Each shareholder is furnished annually a calendar that designates
the prime and non-prime time days; it also provides a schedule of
when reservations can be made and the procedure for making
reservations.  Shareholders' free use of sites average
approximately 20% to 22% annually, refer to Result of Operations
 MD&A, page 9.

SEASONAL ASPECTS OF BUSINESS
The business of the Company is seasonal and is concentrated
during prime days of the year which are defined as follows:
President's Day Weekend, Easter week, Memorial Day Weekend,
summer vacation months, Labor Day, Thanksgiving Weekend and
Christmas vacation.

WORKING CAPITAL REQUIREMENTS
By accumulating reserves during the prime seasons, the Company is
able generally to meet its working capital needs during off-
season.  Industry practice is to accumulate funds during the
prime season and use such funds, as necessary, in the off-season.
The Company has arranged, but not used, a $150,000 line of credit
to ensure funds are available, if necessary, in the off-season.

COMPETITION
The Company is in competition with nine other RV parks located
within a five-mile radius.  Since its property is the only
property located adjacent to the beach, it has a competitive
edge.  The Company is recognized as a recreational vehicle resort
rather than a park because of its upgraded facilities and
amenities which include 23 Channels of Satellite TV, a heated
pool, a miniature golf course and a recreational program.  The
Resort is noted for its ability to provide full service which
includes RV storage and RV repair and service.  The Resort is
consistently given high ratings by industry travel guides based
on resort appearance, facilities offered, and recreational
programs.  In Fiscal Year 1999, Pismo Coast Village, Inc., was
awarded the designation of RV Park of the Year, Mega Park
Category 1998, by the California Travel Parks Association (CTPA).
In 1997, Pismo Coast Village, Inc. was awarded the designation of
RV Park of the Year, Large Park Category 1997, by the National
Association of RV Parks and Campgrounds (ARVC) which has a
membership of more than 3,300 properties.  These factors allow
the Resort to price its site rental fees well above most of its
competition based on perceived value received.

Competition for the tourist market is keen between the cities on
the Central Coast of California.  Resort management and staff are
involved with the City of Pismo Beach, Chamber of Commerce,
Conference and Visitors Bureau, and Business Improvement Group
and are major sponsors in cooperative events and advertising. The
Resort continues to market off-season discounts and place
advertisements in trade publications and industry directories. In
addition, the Company places its brochure with companies selling
or renting recreational vehicles and has found the Resort's
Internet web page to be very effective.  The marketing program
has been expanded targeting groups and clubs by offering group
discounts, meeting facilities, and catering services.  The
Company's marketing plan was funded by $27,406 for Fiscal Year
1999 which was developed out of operating revenues.  The major
source of the Company's business is repeat business, which has
been developed by attention to good customer service and
providing quality recreational facilities.

ENVIRONMENTAL REGULATION
The Company is affected by federal, state and local antipollution
laws and regulations.  Due to the nature of its business
operations (camping, RV storage and small retail store sales) the
discharge of materials into the environment is not considered to
be of a significant concern, and the EPA has not designated the
Company as a potentially responsible party for clean up of
hazardous waste.
The main property of the Resort is located within the boundaries
of those lands under the review and purview of the Coastal
Commission of the State of California and the City of Pismo
Beach.  The water and sewer systems are serviced by the City of
Pismo Beach.  The Company was subject to state and federal
regulations regarding the Fiscal Year 1996 reconstruction of an
outflow structure that empties into Pismo Creek at the north
boundary of the Resort.  Because the Resort is within the
wetlands area, the California Coastal Commission required permits
for repair and construction to be reviewed by the following
agencies:  City of Pismo Beach, State Lands Commission, Regional
Water Quality Board, State of California, California Department
of Fish and Game, State Department of Parks and Recreation and
the Army Corps of Engineers.  The requirement for these permits
involved the diversion of capital from operations, but did not
increase cost of debt financing.

EMPLOYEES
As of September 30, 1999, the Company employed approximately 39
people with 17 of these on a part time basis and 22 on full-time
basis.  Due to the seasonal nature of the business, additional
staff is needed during peak periods and fewer during the off-
season.  Staffing levels during the fiscal year ranged from
approximately 34 employees to 42 employees.  Management considers
its labor relations to be good.

ADDITIONAL INFORMATION
Beginning October 1, 1994, site rental rates at the Resort were
increased to range from $22 - $26 per day during the off-season
and $32 - $36 per day during prime time.  Rates have remained at
this level and were not increased for Fiscal Year 1998-99, and an
increase in rates is not being considered for Fiscal Year 1999-
2000.  It is anticipated the current rates will continue to
market site usage at its highest value and a rate increase would
possibly affect the Company's ability to capture an optimum
market share.

During the May 1998 meeting, the Board elected to increase RV
storage and towing rates, to be effective October 1, 1998.  The
rates were increased from $30 per unit and $1 per foot over 28
feet to $33 per unit and $1.25 per foot over 28 feet.  The towing
and set-up fees went from $11 to $12.50.  The rate increase was a
result of increased operational expenses and new prices remain
within the range of local competition.

On December 31, 1998, the Company closed escrow on a parcel of
property to be developed as an additional RV storage facility.
With existing storage operating at full capacity and anticipating
continued demand for this service, the Company purchased 5.8
acres in Oceano, California.  Construction has been completed and
upon receiving County approval on October 14, 1999, the Company
began accepting new storage customers.

ITEM 2     DESCRIPTION OF PROPERTIES

The Company's principal asset consists of the Resort which is
located at 165 South Dolliver Street in Pismo Beach, California.
The Resort is built on a 26-acre site and includes 400 campsites
with full hookups and nearby restrooms with showers and common
facilities, such as a video arcade, recreation hall, general
store, swimming pool, Laundromat, and three playgrounds.

In 1980 the Company purchased a 2.2 acre parcel of real property
located at 2050 22nd Street, Oceano, California, at a price of
$66,564.  The property is being used by the Company as a storage
facility for recreational vehicles.  The storage capacity of this
lot is approximately 114 units.

In 1981 the Company exercised an option and purchased a 3.5 acre
parcel located at 300 South Dolliver Street, Pismo Beach,
California, at a price of $300,000.  The property, which
previously had been leased by the Company, is used primarily as a
recreational vehicle storage yard.  The storage capacity of this
lot is approximately 223 units.

In 1988 the Company purchased approximately 0.8 acres of property
at 180 South Dolliver Street, Pismo Beach, California, across the
street from the main property, consisting of a large building
with a storefront and one large maintenance bay in the rear.
Also, on the property is a smaller garage-type building with
three parking stalls.  The Company enlarged its recreational
vehicle repair operation, added RV storage for approximately
eleven units and developed the storefront into a RV parts store.
The property was purchased for $345,000, of which $300,000 was
financed and paid in full during Fiscal Year 1997.

On December 31, 1998, the Company closed escrow on a parcel of
property to be developed as an additional RV storage facility.
The 5.8 acre property is located in Oceano adjacent to existing
Company RV storage.  On October 14, 1999, construction was
completed and the Company received County approval to occupy the
premises.  The property was purchased for $495,000, of which
$395,000 was financed.  Development cost amounted to $195,723 and
was allocated from operational cash flow.

There is no deferred maintenance on any of the Resort's
facilities.  The Company's facilities are in good condition and
adequate to meet the needs of the stockholder users as well as
the public users.  The Company continues to develop sufficient
revenue from general public sites sales to support a continued
positive maintenance program and to meet the demands of
shareholders use of free sites.

The Resort, RV Repair Shop and Parts Store and three storage
facilities constitute substantially all the Company's property,
and are owned in fee.  Two storage lots and beach access used by
the shareholders and general public visitors are leased by the
Company pursuant to the herein below described leases.

1.     TRAILER STORAGE YARDS.  In 1986 the Company leased a
parcel of land 100 feet wide by 1,600 feet long from the Southern
Pacific Railroad Corp.  The property is being used by the Company
as a storage facility for recreational vehicles.  Capital
improvements in the amount of $40,000 were made to this property,
which provides storage for approximately 183 units.  The property
was leased for $950 per month the first year, $1,400 per month
for the second year, with continuing years tied to the "CPI"
Index, or Fair Market Value of the property according to the
lease agreement.  During Fiscal Year 1999, lease payments were
made in the amount of $42,125, Fiscal Year 2000 lease payments
will be $36,807, and Fiscal Year 2001 lease payments will be
$36,807 plus applicable changes in index or valuation.

In 1991 the Company developed a lease for a five-acre RV storage
lot at the Oceano Airport clear zone as storage for approximately
337 RV's.  This lot was developed to replace a 100-unit storage
lot that was closed when the lease was not renewed.  The original
lease on the storage lot was for five years with an additional
five-year option which has been executed.  Construction was
completed in January 1992 and capital improvements in the amount
of $330,768 were made to this property of which $300,000 was
financed and paid in full during Fiscal 1997.

Lease payments for the first year of control and occupancy area
were $1,500 per month, $2,000 for the second year and continuing
years are tied to the "CPI" index.  During Fiscal Year 1999,
lease payments were made in the amount of $29,715, Fiscal Year
2000 lease payments will be $27,400 plus applicable changes in
index, and Fiscal Year 2001 lease payments will be $27,400 plus
index changes.

2.     AMENDMENT NO. 4 TO CONTRACT PISMO STATE BEACH, LOCATED IN
SAN LUIS OBISPO COUNTY, PISMO COAST VILLAGE, INC., DATED JULY
1976.  (Pertaining to the Boardwalk Concession Contract for
construction and maintenance of three boardwalks to the beach for
pedestrians at Pismo State Beach and to provide for continued
access through the sand dunes to the State Beach abutting the
Resort.)  This contract is between the Company and the State of
California Department of Parks and has been renewed annually
since June 30, 1984.  The contract was originally assigned by the
former owner to the Company by an assignment, dated December 1,
1975.  Continued ocean access is granted annually by payment of a
license fee of $400.

The Resort leases out areas to other companies to insure that the
best service and equipment are available for guest use.  These
areas are leased from the Company pursuant to the herein below
described leases.

1.     RECREATIONAL ARCADE AGREEMENT WITH COIN AMUSEMENTS, INC.
This agreement is dated October 1, 1998, and pursuant to this
agreement the Company granted Coin Amusements, Inc., the
concession to operate various coin-operated game units at the
Resort.  The one year term expired on September 30, 1999.  This
agreement has been subsequently renewed for a one year term
ending September 30, 2000; continued renewal is expected without
significant impact.

2.     WEB SERVICE COMPANY, GOLETA, CA.  The five-year lease
expired on July 22, 1997, and was reissued for a five-year period
which will expire on July 22, 2002, and grants to Web Service
Company the right to place and service coin-operated laundry
machines at the Resort on a 50-50 basis for all revenues derived
from their use.  On April 23, 1998, Web replaced all 18 washers
and 18 dryers with new equipment.  Continued renewal is expected
without significant impact.

ITEM 3  LEGAL PROCEEDINGS

The Company or its property is not a party to any pending legal
proceedings.

ITEM 4  SUBMISSION OF MATTERS TO VOTE OF SHAREHOLDERS

     Paragraph inapplicable

     PART II

ITEM 5  MARKET FOR COMMON STOCK AND RELATED STOCKHOLDER MATTERS

(a.)  There is no market for the Company's common stock, and
there are only limited or sporadic transactions in its stock.
Mr. Kenneth L. McFarlen, a licensed broker/dealer, handles sales
of the Company shares as Central Coast Investments.  The last
transaction the Company is aware of occurred on September 13,
1999, at a price of $9,500 for one share conveyed.  This price
was used for computation of aggregate market value of Company
stock on page 2 of this Report.

(b.) The approximate number of holders of the Company's common
stock on September 30, 1999 was:  1,538.

(c.)  The Company has paid no dividends since it was organized in
1975, and although there is no legal restriction impairing the
right of the Company to pay dividends, the Company does not
intend to pay dividends in the foreseeable future.  The Company
selects to invest its available working capital to enhance the
facilities at the Resort.

(d.)  Mr. McFarlen, the Company's on-site broker, renewed his
agreement which expired on March 31, 1993, to lease 200 square
feet at the Resort, from which he conducts sales activities in
the Company's stock.  He has agreed to continue this lease on a
month-to-month agreement and is current under his lease
agreement.  Termination or cancellation may be made by either
Lessor or Lessee by giving the other party ninety (90) days
written notice.

ITEM 6  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULT OF OPERATIONS

Pismo Coast Village, Inc., operates as a 400 space recreational
vehicle resort.  The Corporation includes additional business
operations to provide its users with a full range of services
expected of a recreational resort.  These services include a
store, video arcade, Laundromat, recreational vehicle repair, RV
parts shop and an RV storage operation.

The Corporation is authorized to issue 1,800 shares, of one
class, all with equal voting rights and all being without par
value.  Transfers of shares are restricted by Company bylaws.
One such restriction is that transferees must acquire shares with
intent to hold the same for the purpose of enjoying camping
rights and other benefits to which a stockholder is entitled.
Each share of stock is intended to provide the stockholder with
the opportunity for 45 days of free site use per year.  However,
if the Corporation is unable to generate sufficient funds from
the public, the Company may be required to charge shareholders
for services.

Management is charged with the task of developing sufficient
funds to operate the Resort through site sales to general public
guests by allocating a minimum of 175 sites to general public use
and allocating a maximum of 225 sites for stockholder free use.
The other service centers are expected to generate sufficient
revenue to support themselves and/or produce a profit.

Certain information included herein contains statements that may
be considered forward-looking statements within the meaning of
Section 21E of the Securities Exchange Act of 1934, such as
statements relating to anticipated expenses, capital spending and
financing sources.  Such forward-looking information involves
important risks and uncertainties that could significantly affect
anticipated results in the future and, accordingly, such results
may differ from those expressed in any forward-looking statements
made herein.  These risks and uncertainties include, but are not
limited to, those relating to competitive industry conditions,
California tourism and weather conditions, dependence on existing
management, leverage and debt service, the regulation of the
recreational vehicle industry, domestic or global economic
conditions and changes in federal or state tax laws or the
administration of such laws.

CURRENT OPERATING PLANS
The Board of Directors continues its previously established
policy by adopting a stringent, conservative budget for Fiscal
Year 2000, which projects a positive cash flow of approximately
$432,206 from operations.  While the Company projects a positive
cash flow, this cannot be assured for Fiscal Year 2000.  Capital
expenditures planned for 2000 include the continued enhancement
of RV sites and services, road improvements, the construction of
an additional restroom, and the renovation of an existing
restroom.  These investments are projected to be approximately
$332,000, some of which can be deferred, if necessary.  These
proposed capital improvements will be funded from cash from
operations, from existing working capital, and, if necessary,
from financing obtained by the Company.  Thus, budgeted cash flow
for the year is expected to be within the Company's capabilities
based on its present working capital position.

FINANCIAL CONDITION
The business of the Company is seasonal and is concentrated on
prime days of the year which are defined as follows:  President's
Day Weekend, Easter week, Memorial Day Weekend, summer vacation
months, Labor Day, Thanksgiving Weekend, and Christmas vacation.
There are no known trends which affect business or affect
revenue.

The Company develops its income from two sources:  (a) Resort
Operations, consisting of revenues generated from RV site
rentals, from RV storage space operations, and from lease
revenues from Laundromat, and arcade operations by third party
lessees; and (b) Retail Operations, consisting of revenues from
general store operations and from RV parts and service
operations.

A major impact on the financial condition of Fiscal Year 1996,
was the Company's reconstruction of the storm water drainage
outfall caused by storm damage suffered March 10, 1995.  The
$422,719 cost of this project required the review and
modification to the Company's business and operational plans
during the fiscal year ending 1996.  This impact included the
delay of proposed capital expenditures, such as deferring site
enhancement on the north side of the Resort, which was completed
in Fiscal Year 1997, and deferring the improvements to the
Maintenance, Accounting, and Reservations facilities to Fiscal
Year 1999.

The Company completed its plan to aggressively reduce debt by
eliminating, by early payoff, all outstanding loan balances in
September 1997.  With the purchase of a new storage property in
December 1998, the Company has obtained financing from a local
institution.  The Company continues its policy to adopt
conservative budgets with managed capital outlays.

The Company has arranged a $150,000 line of credit that has not
been drawn on to date.  With exception of the RV storage property
loan, the Company has no other liabilities to creditors other
than current accounts payable arising from its normal day-to-day
operations and advance Resort rental reservation deposits, none
of which are in arrears.

LIQUIDITY
The Company's policy is to use its ability to generate operating
cash flow to meet its expected future needs for internal growth.
The Company has continued to maintain sufficient cash so as to
not require the use of a short-term line of credit during the
off-season period, and the Company expects to be able to do so
(although no assurance of continued cash flow can be given).

Net cash provided by operating activities totaled $701,398 in
1999, compared to $529,521 in 1998.  These fluctuations are
primarily a result of increased revenues due to higher occupancy,
early payoff of long-term debt, pricing concepts, and of
deferring selected capital projects.
The capital projects that were deferred will not detrimentally
affect current business and were moved to future years.  Future
capital expenditures are expected to be funded through normal
operating cash flows and, if necessary, supplemented with outside
financing.

During Fiscal Year 1999, cash investments of $525,726 included
the purchase and development of a new RV storage facility,
renovation of the Accounting/Reservations building, construction
of a new maintenance building, a new trailer-towing vehicle,
truck, paving, and computer equipment to meet Year 2000
compliance.  During 1998, cash investments of $107,827 included
purchase and installation of a new emergency generator, upgrade
of all computers and software for Reservations and Accounting,
paving, and preliminary design and permit applications for the RV
storage and maintenance yard projects.  Some projects budgeted
for 1998 were deferred to future dates due to the impact of the
El Nino weather pattern.

The Company has continued to maintain sufficient cash from
operations to not require the addition of long-term debt during
1998 or 1999.  With the possibility of requiring additional funds
for planned capital improvements and winter season, the Company
established a $150,000 Line of Credit to insure funds will be
available if required.  In anticipation of future large projects,
the Board of Directors has instructed management to build
operational cash balances.

Fiscal Year 1999's current ratio (current assets to current
liabilities) of 2.38 increased from Fiscal Year 1998's current
ratio of 2.28.  The increase in current ratio is the result of a
stronger cash position due to reserves for capital expenditures,
the reduction of accrued liabilities, and prepayment of income
taxes at year end.

Working Capital increased to $676,766 at the end of Fiscal Year
1999 compared with $550,500 at year end Fiscal Year 1998.  This
increase is a result of eliminating all long-term debt,
anticipating planned capital improvements, development of cash
reserves, and deferment of capital projects that have not
detrimentally affected current operations.

CAPITAL RESOURCES AND PLANNED EXPENDITURES
The Company plans capital expenditures of $332,000 in Fiscal Year
2000 to further enhance the resort facilities and services,
improve roads, construct an additional restroom, and renovate an
existing restroom.  Funding for these projects is expected to be
from normal operating cash flows and, if necessary, supplemented
with outside financing. These capital expenditures are expected
to increase the Resort's value to its stockholders and the
general public.


RESULTS OF OPERATIONS

YEAR TO YEAR COMPARISON

INCOME: Increased over the prior fiscal year ended September 30,
1998, by $304,464, or 11.3%.

<TABLE>
INCOME BY SEGMENT
<CAPTION>
<S>                                 <C>          <C>
                                    1999         1998
OCCUPANCY
% of Stockholder Site Use           21.3%        20.5%
% of Paid Site Rental               48.0%        41.1%
% Total Site Occupancy              69.8%        61.7%
% of Storage Rental                 99.9%        99.9%
Average Paid Site                 $27.19       $27.86

RESORT OPERATIONS
Site Rental                   $1,907,226   $1,672,887
Storage Operations              $400,840     $386,698
Support Operations              $124,243     $111,984
Total                         $2,432,309   $2,171,569

RETAIL OPERATIONS
Store                           $328,948     $306,558
RV Repair/Parts store           $202,277     $189,917
Total                           $531,225     $496,475

INTEREST INCOME                  $24,878      $15,904
TOTAL INCOME                  $2,988,412   $2,683,948
</TABLE>

Occupancy rates on the above table are calculated based on the
quantity occupied as compared to the total sites available for
occupancy (i.e., total occupied to number of total available).
Average paid site is based on site revenue and paid sites.
Resort support operations include revenues received from the
arcade, Laundromat, recreational activities, and other less
significant sources.

1999 COMPARED WITH 1998
Resort operations income increased $260,740, or 12.0%, due to a
17.1% increase in paid site occupancy.  RV storage revenue
increased $14,141, or 3.6%, over the previous year due to a price
increase.  Paid site occupancy was positive throughout Fiscal
Year 1999 due to mild weather and an ongoing upward trend of
outdoor recreation and camping.  This is especially evident when
comparing the weather conditions to 1998 and the significant
impact of the El Nino weather pattern on paid occupancy during
the first three quarters of 1998.

Retail operations income increased $34,750, or 7.0%, due to a
6.5% increase in RV Repair/Parts Store revenue and an increase of
7.3% in General Store sales.  These increases are a result of
management's continuing program to increase RV Shop sales, and in
the General Store from increased occupancy and efforts to stock
more appropriate items, more effectively merchandise, and pay
greater attention to customer service.

Interest Income increased 56.4% as a result of carrying higher
cash balances through most of the year.  These increased cash
balances are due to the Company anticipating capital expenditures
to improve the Resort's facilities and services, and the increase
in advanced deposits.

Operating Expenses increased $56,280, or 3.0%, as a result of
payroll, property taxes, contracted services, and equipment
expense.  Despite operating at staffing levels below Fiscal Year
1998, the previous midyear mandatory increase in minimum wage
affected Company payroll and contracted service expenses.
Maintaining the conservative approach, most expense items were
managed well below plan and in many categories below the previous
year.  The Board of Directors have directed management to
continue maintenance projects as needed to provide a first class
resort for campers using recreational vehicles.

Depreciation Expense decreased 4.7% due to the age or elimination
of the assets deemed to no longer have a useful life.

Interest Expense increased from $200 in 1998 to $25,364 in 1999
due to the note payable as a result of the purchase of the RV
storage property.

Loss on Disposal of Fixed Assets for 1999 of $43,658 represents
the reclassification of certain assets determined no longer to
have a useful life and that were disposed of.

Income before provision for taxes on income of $371,481 is
reflective of the Company's current pricing policies and contin-
uing efforts to maximize resort services and value.  This income
exceeded management's plan of operations for Fiscal Year 1999.
Net income increased by $104,743, or 96.3%, primarily due to a
significant increase in income and a reduction in depreciation.
This is the tenth consecutive year of positive net income for the
Company.

INFLATION has not had a significant impact on our profit
position.  Company has increased rates which have more than
compensated for the rate of inflation.

FUTURE OPERATING RESULTS could be unfavorably impacted to the
extent that changing prices result in lower discretionary income
for customers and/or increased transportation costs to the
Resort.  In addition, increasing prices affects operations and
liquidity by raising the replacement cost of property and
equipment.

YEAR 2000 COMPLIANCE within the Company's computerized systems,
and the readiness of associated vendors has required ongoing
assessment.  The Company has retained the services of a
consultant to identify any and all hardware and software systems
which may need to be upgraded or replaced.  All of the Company's
integral systems, such as reservations and accounting, have been
upgraded within the past eighteen months.  Following some system
replacement in Fiscal Year 1999, all hardware is believed to be
in compliance with meeting demands of the year 2000 issue.  The
Company believes that by upgrading software, the Company's
computer systems will not experience material operational
problems as a result of the Year 2000 issue.  However, if such
modifications were not made, or were not timely completed, the
Year 2000 issue could have a material adverse impact on the
operations of the Company.  The most significant disruption would
impact customer billings and collections and resort reservations.

Vendors and institutions such as banks, service providers, and
the stock transfer company have provided statements regarding
their level of readiness or compliance.  Some Company functions
could be disrupted if these businesses have not properly
recognized their respective challenges to become Year 2000
compliant within the required time frame.

The Company anticipates completing the Year 2000 compliance
obligations on time with an estimated cost of less than $25,000.
The Company does not presently have a formal contingency plan,
because it believes the necessary modifications have been
completed in the required time frame.  However, should it become
evident that the Year 2000 modifications were not completed on a
timely basis, the Company will explore alternatives to achieve
compliance.

The costs of the project and the date on which the Company
believes it will complete the Year 2000 modifications are based
on management's best estimates which were derived utilizing
numerous assumptions of future events.  However, there can be no
assurance that these estimates and timetable will be achieved,
and actual results could differ materially from those
anticipated.

ITEM 7  FINANCIAL STATEMENTS

INDEPENDENT AUDITORS' REPORT


Board of Directors
Pismo Coast Village, Inc.
Pismo Beach, California 93449

We have audited the accompanying balance sheets of Pismo Coast
Village, Inc. as of September 30, 1999 and 1998, and the related
statements of operations and retained earnings and cash flows for
the years then ended.  These financial statements are the
responsibility of the Company's management.  Our responsibility
is to express an opinion on these financial statements based on
our audits.

We conducted our audits in accordance with generally accepted
auditing standards.  Those standards require that we plan and
perform the audits to obtain reasonable assurance about whether
the financial statements are free of material misstatement.  An
audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements.  An
audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating
the overall financial statement presentation.  We believe that
our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above
present fairly, in all material respects, the financial position
of Pismo Coast Village, Inc. as of September 30, 1999 and 1998,
and the results of its operations and its cash flows for the
years then ended, in conformity with generally accepted
accounting principles.





Glenn, Burdette, Phillips & Bryson
Certified Public Accountants
A Professional Corporation

GLENN, BURDETTE, PHILLIPS & BRYSON
1150 PALM STREET
SAN LUIS OBISPO, CA. 93401

October 20, 1999








PISMO COAST VILLAGE, INC.
BALANCE SHEETS
SEPTEMBER 30, 1999 AND 1998

<TABLE>

                                      1999              1998
<CAPTION>
<S>                                <C>                 <C>
     ASSETS
Current Assets
Cash and cash equivalents          $1,007,428          $831,756
Accounts receivable                    15,232            10,495
Inventory                              66,678            66,723
Current deferred taxes                 30,000            22,000
Prepaid expenses                       48,976            48,186
     Total current assets           1,168,314           979,160

Pismo Coast Village Recreational Vehicle
     Resort and Related Assets -
Net of accumulated depreciation     5,903,215         5,337,587

Other Assets                            2,211            68,624

     Total Assets                  $7,073,740         $6,385,371

LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Accounts payable and accrued
     liabilities                      $98,426           $123,415
Accrued salaries and vacation          61,966             45,540
Rental deposits                       243,156            214,705
Income tax payable                     88,000             45,000
     Total current liabilities        491,548            428,660

Long-Term Liabilities
Long-term deferred taxes               91,000             74,000
Long-term debt                        395,000

     Total liabilities                977,548            502,660

Stockholders' Equity
Common stock - no par value,
issued and outstanding 1,800 shares 5,647,708          5,647,708
Retained earnings                     448,484            235,003
     Total stockholders' equity     6,096,192          5,882,711

     Total Liabilities and
       Stockholders' Equity        $7,073,740         $6,385,371

</TABLE>
The accompanying notes are an integral part of these financial
 statements.


PISMO COAST VILLAGE, INC.
STATEMENTS OF OPERATIONS AND RETAINED EARNINGS
YEARS ENDED SEPTEMBER 30, 1999 AND 1998

<TABLE>
<CAPTION>
                                         1999             1998

<S>                                   <C>              <C>
Income
Resort operations                     $2,432,309       $2,171,569
Retail operations                        531,225          496,475
Interest income                           24,878           15,904
     Total income                      2,988,412        2,683,948

Costs and Expenses
Operating expenses                     1,933,331        1,877,051
Cost of goods sold                       303,138          289,690
Depreciation                             311,440          326,786
Interest expense                          25,364              200
Loss on disposal of fixed assets          43,658           12,483
     Total costs and expenses          2,616,931        2,506,210

Income Before Provision
     for Taxes on Income                 371,481          177,738

Provision for taxes on income            158,000           69,000

Net Income                               213,481          108,738

Retained Earnings
Beginning of Year                        235,003          126,265

End of Year                             $448,484         $235,003

Earnings Per Share From
     Continuing Operations               $118.60           $60.41

Earnings Per Share From Net Income       $118.60           $60.41


</TABLE>
The accompanying notes are an integral part of these financial
statements.


PISMO COAST VILLAGE, INC.
STATEMENTS OF CASH FLOWS
YEARS ENDED SEPTEMBER 30, 1999 AND 1998

<TABLE>
<CAPTION>
                                 							    1999        1998

<S>                                         <C>          <C>
Cash Flows From Operating Activities

Net income                                  $213,481    $108,738
Adjustments to reconcile net income
  to net cash provided by
  operating activities:
    Depreciation                             311,440     326,786
    Deferred income tax                        9,000      (3,000)
    Loss on disposal of fixed assets          43,658      12,483
    (Increase) in accounts receivable         (4,737)     (2,028)
    Decrease in inventory                         45       2,874
    Increase in prepaid income taxes          24,551
    (Increase) decrease in prepaid expenses     (790)        714
    (Increase) decrease in other assets       66,413     (62,005)
    Increase (decrease) in accounts payable
      and accrued liabilities                (24,989)     36,936
    Increase in accrued salaries
      and vacation                            16,426       8,146
    Increase in rental deposits               28,451      30,326
    Increase in income taxes payable          43,000      45,000
      Total adjustments                      487,917     420,783

    Net cash provided by operating
       activities                            701,398     529,521

Cash Flows From Investing Activities
Proceeds from sale of assets                   4,750
Capital expenditures                        (530,476)   (107,827)
    Net cash used in investing activities   (525,726)   (107,827)
    Net increase in cash and cash
       equivalents                           175,672     421,694

Cash and Cash Equivalents -
   Beginning of Year                         831,756     410,062

Cash and Cash Equivalents - End of Year   $1,007,428    $831,756

Schedule of Payments of Interest and Taxes
Payments for interest                        $25,364        $200
Payments for income tax                      $60,440     $17,300

</TABLE>

Schedule of Noncash Investing and Financing Activities

During the year ended September 30, 1999, the Company purchased
real property with cash and a note payable of $395,000.

The accompanying notes are an integral part of these financial
statements.



PISMO COAST VILLAGE, INC.
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 1999 AND 1998


Note 1 - Summary of Significant Accounting Policies

Nature of Business

Pismo Coast Village, Inc. (Company) is a recreational vehicle
camping resort.  Its business is seasonal in nature with the
fourth quarter, the summer, being its busiest and most
profitable.

Inventory

Inventory has been valued at the lower of cost or market on a
first-in, first-out basis.


Depreciation and Amortization

Depreciation of property and equipment is computed using an
accelerated method based on the cost of the assets, less
allowance for salvage value, where appropriate.  Depreciation
rates are based upon the following estimated useful lives:

     Building and park improvements          5 to 40 years
     Furniture, fixtures, equipment and
        leasehold improvements               5 to 31.5 years
     Transportation equipment                5 to 10 years

Earnings Per Share

The earnings per share are based on the 1,800 shares issued and
outstanding.

Reclassification of Previously Issued Financial Statements

Reclassification of certain accounts reported in previously
issued financial statements have been made to enhance
comparability with current financial statements.

Cash and Cash Equivalents

For purposes of the statements of cash flows, the Company
considers all highly liquid investments including certificates of
deposit with a maturity of three months or less when purchased to
be cash equivalents.

PISMO COAST VILLAGE, INC.
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 1999 AND 1998
PAGE 2

Note 1 - Summary of Significant Accounting Policies (Continued)

Use of Estimates

The preparation of financial statements in conformity with
generally accepted accounting principles requires management to
make estimates and assumptions that affect certain reported
amounts and disclosures.  Accordingly, actual results could
differ from those estimates.

Revenue and Cost Recognition

The Company's revenue is recognized on the accrual basis as
earned based on the date of stay.  Expenditures are recorded on
the accrual basis whereby expenses are recorded when incurred,
rather than when paid.

Advertising

The Company follows the policy of charging the costs of
advertising to expense as incurred.  Advertising expense was
$23,538 and $37,341 for the years ended September 30, 1999 and
1998, respectively.

Note 2 - Pismo Coast Village Recreational Vehicle Resort and
Related Assets

At September 30, 1999 and 1998, property and equipment, which are
recorded at cost, included the following:

<TABLE>
<CAPTION>
                                            1999         1998
<S>                                      <C>          <C>
Land                                     $3,208,618   $2,680,850
Building and park improvements            5,764,775    5,578,110
Furniture, fixtures, equipment and
   leasehold improvements                   649,620    1,220,944
Transportation equipment                    228,338      200,400
Construction in progress                    144,387       32,559
                                          9,995,738    9,712,863
Less accumulated depreciation            (4,092,523)  (4,375,276)

                                         $5,903,215   $5,337,587

</TABLE>

Note 3 - Line of Credit

The Company has a revolving line of credit for $150,000.  The
interest rate is variable at one percent over prime, with an
initial rate of 10.50 percent expiring March 15, 2000.  The
purpose of the loan is to augment operating cash needs in off-
season months.  There were no outstanding amounts as of September
30, 1999 or 1998.


PISMO COAST VILLAGE, INC.
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 1999 AND 1998
PAGE 3

Note 4 - Common Stock

Each share of stock is intended to provide the shareholder with a
maximum free use of the park for 45 days per year.  If the
Company is unable to generate sufficient funds from the public,
the Company may be required to charge shareholders for services.

A shareholder is entitled to a pro rata share of any dividends as
well as a pro rata share of the assets of the Company in the
event of its liquidation or sale.  The shares are personal
property and do not constitute an interest in real property.  The
ownership of a share does not entitle the owner to any interest
in any particular site or camping spot.


Note 5 - Income Taxes

The provision for income taxes consists of the following
components:
<TABLE>
<CAPTION>
                                          1999            1998
          <S>                           <C>             <C>
          Current:
            Federal                     $117,000        $56,000
            State                         32,000         16,000
                                         149,000         72,000

          Deferred:
            Federal                        9,000         (3,000)
                                        $158,000        $69,000

</TABLE>

The deferred tax assets (liabilities) are comprised of the
following:

<TABLE>
<CAPTION>
                             1999                    1998
<S>                    <C>       <C>         <C>       <C>
                       Current   Long-Term   Current   Long-Term
Deferred tax assets:
   Federal             $27,000   $           $19,000    $
   State                 3,000                 3,000
Deferred tax liabilities:
   Federal                        (70,000)               (53,000)
   State                          (21,000)               (21,000)
                       $30,000   $(91,000)  $22,000     $(74,000)

</TABLE>

PISMO COAST VILLAGE, INC.
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 1999 AND 1998
PAGE 4


Note 5 - Income Taxes (Continued)

The above deferred tax assets (liabilities) consist of the
following temporary differences:

<TABLE>
<CAPTION>
                                            1999          1998
<S>                                      <C>           <C>
Depreciation                             $(91,000)     $(74,000)
  Total gross deferred tax liabilities    (91,000)      (74,000)

Vacation accrual                           13,000        12,000
Miscellaneous                              17,000        10,000
  Total gross deferred tax assets          30,000        22,000

                                         $(61,000)     $(52,000)
</TABLE>

The effective income tax rate varies from the statutory federal
income tax rate as follows:
<TABLE>
<CAPTION>
                                              1999         1998
<S>                                           <C>          <C>
Statutory federal income tax rate             34.0%        34.0%
Increase (decreases):
 State income taxes, net of federal benefit    5.7          5.8
 Effect of graduated tax rates                             (4.0)
Miscellaneous                                  2.8          0.7

  Effective Income Tax Rate                   42.5%        36.5%
</TABLE>


PISMO COAST VILLAGE, INC.
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 1999 AND 1998
PAGE 5

Note 6 - Operating Expenses

Operating expenses for the years ended September 30, 1999 and
1998, consisted of the following:

<TABLE>
<CAPTION>
                                             1999          1998
<S>                                        <C>          <C>
Direct labor                               $548,506     $531,599
Administrative salaries                     207,575      198,175
Contract labor                                               236
Insurance                                   147,338      146,357
Payroll tax expense                          66,347       66,666
Employee travel and training                 12,950       13,099
Property taxes                               51,166       48,280
Taxes and licenses                            5,809        4,722
Corporation expense                          47,293       52,719
Advertising and promotion                    23,538       37,341
Telephone                                    28,126       25,686
Security                                     76,436       81,832
Office supplies and expense                  58,052       35,971
Custodial supplies                            7,278        8,097
Recreational supplies                         3,969       12,448
Professional services                        36,657       28,383
Retail operating supplies                     6,509        3,593
Repairs and maintenance                      94,896       84,150
Contract services                           104,886      103,859
Equipment lease                               3,256        3,514
Utilities                                   251,833      230,883
Auto and truck expense                       28,864       44,277
Rent - storage lots                          62,899       63,048
Bad debts                                        80        1,279
Service charges                              38,703       34,843
Uniforms                                      6,287        8,314
Miscellaneous                                14,078        7,680

   Total Operating Expenses              $1,933,331   $1,877,051
</TABLE>

PISMO COAST VILLAGE, INC.
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 1999 AND 1998
PAGE 6

Note 7 - Long-Term Debt
Long-term debt at September 30, 1999, is as follows:

8.25%     Construction loan payable allowing for a two year draw
          down period not to exceed $900,000.  Payments are
          interest only for two years.  Then principal and
          interest of $3,198 for eight years with a balloon of
          $331,942 on February 5, 2009.  Secured by deed of trust
          on the storage lot at 300 South Dolliver, land and
          improvements at 180 South Dolliver and a storage lot
          known as parcel 061,171,006 and 061,671,007.  $395,000

                                                        $395,000

Maturities of long-term debt are as follows:

<TABLE>
<CAPTION>
            <C>                                         <C>
            Year Ended September 30,                    Amount
                     2001                               $3,955
                     2002                                6,355
                     2003                                6,891
                     2004                                7,491
                  Thereafter                           370,308

                                                      $395,000
</TABLE>

Total interest cost incurred was $25,364 for the year ended
September 30, 1999.

Note 8 - Operating Leases
The Company leases two pieces of property to use as storage lots.
One is leased under a cancelable month-to-month lease.  The other
was renewed effective January 1, 1997, for five years with an
option to extend for an additional five years.  Monthly lease
payments are currently $2,272 and are increased annually based on
the Consumer Price Index.  Future minimum lease payments under
the second lease and an obligation to lease equipment are as
follows:

            Year Ended September 30,       Amount
                    2000                   $29,352
                    2001                    27,240
                    2002                    20,430
                   Total                   $77,022

Rent expense under these agreements was $66,155 and $65,184 for
the year ended September 30, 1999 and 1998, respectively.

PISMO COAST VILLAGE, INC.
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 1999 AND 1998
PAGE 7

Note 9 - Employee Retirement Plans
The Company is the sponsor of a 401(k) profit sharing pension
plan, which covers substantially all full-time employees.
Employer contributions are discretionary and are determined on an
annual basis.  The contribution to the pension plan for the year
ended September 30, 1999 was $9,095.


INDEPENDENT AUDITORS' REPORT
ON ADDITIONAL INFORMATION


Board of Directors
Pismo Coast Village, Inc.
Pismo Beach, California 93449

Our report on our audits of the basic financial statements of
Pismo Coast Village, Inc. as of September 30, 1999 and 1998,
appears on page 3.  Those audits were made for the purpose of
forming an opinion on the basic financial statements taken as a
whole.  The statements of operations (unaudited) for the three
months ended September 30, 1999 and 1998, are presented for
purposes of additional analysis and are not a required part of
the basic financial statements.  Such information has not been
subjected to the auditing procedures applied in the audits of the
basic financial statements, and, accordingly we express no
opinion on it.



Glenn, Burdette, Phillips & Bryson
Certified Public Accountants
A Professional Corporation

GLENN, BURDETTE, PHILLIPS & BRYSON
1150 PALM STREET
SAN LUIS OBISPO, CA. 93401

October 20, 1999


PISMO COAST VILLAGE, INC.
STATEMENTS OF OPERATIONS (UNAUDITED)
THREE MONTHS ENDED SEPTEMBER 30, 1999 AND 1998
<TABLE>
<CAPTION>

                                      1999               1998
<S>                                 <C>                <C>
Income
Resort operations                   $954,502           $925,898
Retail operations                    200,982            203,166
Interest income                        7,462              5,576
   Total income                    1,162,946          1,134,640

Costs and Expenses
Operating expenses                   577,722            513,684
Cost of goods sold                   116,897            116,860
Depreciation                          79,690             82,481
Interest expense                       8,583
Loss on disposal of fixed assets      42,249              4,284
   Total costs and expenses          825,141            717,309

Income Before Provision for
   Taxes on Income                   337,805            417,331

Provision for taxes on income        133,000            143,000

Net Income                          $204,805           $274,331

Earnings Per Share From
   Continuing Operations             $113.78            $152.41

Earnings Per Share From Net Income   $113.78            $152.41

</TABLE>


ITEM 8  CHANGES IN AND DISAGREEMENT WITH ACCOUNTANTS ON
ACCOUNTING AND FINANCIAL DISCLOSURE

Inapplicable.


PART III

ITEM 9     DIRECTORS, EXECUTIVE OFFICERS, AND CONTROL PERSONS;
           COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE ACT

(a) Except for new appointee, Glenn Hickman, who replaced Kurt
Brittain in May 1999, the Company's Directors were chosen at the
Shareholder's Annual Meeting on January 16, 1999.  The Directors
serve for one year, or until their successors are elected.  The
names, ages, background and other information concerning the
Directors, including other offices held by the Directors with the
Company, are set forth below.

(b)  The following is a list of the Company's Directors and
Executive Officers setting forth their functions and experience.
There is no familial relationship between the Directors nor
between the Directors and the Officers.  There is no
understanding or agreement under which the Directors hold office.

HOWARD ALLARD, Director
Howard Allard, age 74, resides at 5161 Diablo Drive, Sacramento,
California  95842.  He has a Master's degree in education
administration from California State University, Sacramento.  He
was an elementary school principal in the Rio Linda Union School
District for 29 years prior to retirement in 1985.  He has been a
partner since 1978 in Allard Enterprises which maintains rental
properties, and he has also been a partner since 1982 in Allard
Limousine.  Mr. Allard has served on the Board for 19 years,
including three years as President, two years as Secretary, and
one year as Vice President - Administration.

EMILY BARTON, Director
Emily Barton is 67 years old.  She resides at 4008 Glenbrook
Avenue, Bakersfield, California  93306.  She holds an inactive B-
California Contractors License and a supplemental Swimming Pool
License C-53.  She was active in the building business for many
years.  She is still active in the remodeling and rehabilitation
of her properties.  She has been in the rental business for 32
years and is currently active in the rental business.  Her
specialty is buying foreclosures.  She holds an inactive life and
disability insurance license.  She is past president of B'nai
B'rith Women Bakersfield Chapter #69.  Under her leadership,
B'nai B'rith Women received many community service awards.  She
has served on the Board for seven years.

DONALD BIANCHI, Director
Donald Bianchi is 76 years old.  He resides at 3605 Belle
Terrace, Bakersfield, California  93309.  He retired from the
U.S. Air Force as a Lieutenant Colonel in 1983 and served as
president of The Retired Officers Association in 1994.  He was a
traffic officer, pilot and accident follow-up officer for the
California Highway Patrol for 31 years until his retirement in
1978.  He served as vice president of the Kern Kiwanis and is an
active member of the Masonic Lodge, serving as a director in the
Kern Shrine Club.  Mr. Bianchi is presently serving as a director
for Sons in Retirement Inc.  He is now a licensed state
investigator in private practice and monitor for California
traffic schools.  He has served on the Board for 24 years.

ALBERT BROWN, Director
Albert Brown is 76 years old.  He resides at 22718 Lone Eagle
Road, Apple Valley, California  92308.  He was employed at Hughes
Aircraft for 20 years, from 1945 to 1965, TRW Systems for 3 1/2
years, from 1965 to 1968, and Rohr Industry, Inc., for 11 1/2
years, from 1968 until retirement in 1979.  He worked his way up
from being an assembler to a senior industrial engineer,
reporting directly to the manager of industrial engineering.  He
has completed extensive continued education in the field of
industrial engineering at U.S.C.  He is an instructor with the
A.A.R.P. 55-Alive Senior Driving Course.  He has served on the
Board of Directors for 14 years, including two years as Vice
President - Administration.

HARRY BUCHAKLIAN, Director
Harry Buchaklian is 67 years old.  He resides at 1361 E.
Ticonderoga Drive, Fresno California  93720.  He has a B.A.
degree from C.S.U.F. in industrial arts, and a secondary level
teaching credential in laboratory electronics and small engine
repair.  His career has included employment as an assistant
manager with Western Auto Stores, electronics instructor at
Fresno Technical College and technical supervisor for Sears
Roebuck.  He retired from Sears Roebuck in 1994.  He has served
on the Board for 15 accumulative years, including most recently
from September 1995 to present, and served one year as Executive
Vice President.

FRANK DRAKE, Director and Executive Vice President
Frank Drake is 58 years old.  He resides at 9511 Birch Creek
Court, Bakersfield, California 93312.  Mr. Drake has an A.A.
degree from Bakersfield College, and holds an administration of
justice lifetime vocational teaching credential from U.C.L.A.
Mr. Drake retired after 20 years with the Kern County Sheriffs
Department where he was commander of detective, administration
and jail facilities.  Following his retirement from the Sheriff's
Department in 1988, he was employed as a safety consultant with
State Compensation Insurance Fund assisting clients in complying
with OSHA and other safety standards.  He retired from this
position in December 1995.  Mr. Drake has served on the Board for
four years, including one year as Vice President - Policy, and is
currently serving as Executive Vice President.

NORMAN GOULD, Director
Norman Gould is 80 years old.  He resides at 10597 Road 30,
Madera, California  93637.  He has a B.A. in education and an
M.A. in administration.  His occupation prior to retirement in
1986 was as the superintendent of schools for Madera County.  He
was a member of the board of directors of Kingsview, Inc., from
1968 to 1980 and held the positions of vice chairman and chairman
of the board.  He is currently on the board of directors of
Valley Teen Ranch, Inc.  Mr. Gould is currently president-elect
of the California Retired Teachers Association, a nonprofit
corporation.  He has served on the Board for 22 accumulative
years, including most recently from March 1993 to present,
serving nine years as President, one year as Treasurer and two
years as Secretary.

GLENN HICKMAN, Director
Glenn Hickman is 66 years old.  He resides at 3584 W. Wathen
Avenue, Fresno, California 93711.  He has a B. A. in Business and
a secondary teaching credential from Fresno State University.
His occupation prior to retirement in 1995 was as a financial
analyst and office supervisor for Cal Resources, a subsidiary of
Shell Oil Company.  Mr. Hickman was appointed by the Board on
July 17, 1999, to fill a vacancy created by the resignation of
Kurt Brittain.

EDWARD HINDS, JR., Director and Vice President - Secretary
Edward (Dee) Hinds, Jr., age 72, resides at 3416 West Magill
Avenue, Fresno, California  93711.  Prior to his retirement in
1988, he was employed for more than 38 years by Bank of America
serving as a branch officer, vice president, manager and regional
credit administrator.  He has served on the Board for 19 years,
and is currently serving a seventh year as Vice President -
Secretary.

TERRIS HUGHES, Director
Terris (Terry) Hughes, is 50 years old and resides at 2426
Sunset, Wasco, California 93280.  Mr. Hughes holds an A.A. degree
from Bakersfield Junior College in police science.  He was
employed by Cal Resources LLC for 23 years, from 1973 to 1997,
holding the position of senior training technician for the last
10 years of that time.  Mr. Hughes is currently employed as an
internal consultant for Aera Energy LLC, an oil industry company
formed in 1997 between the Shell Oil and Mobil Oil Corporations.
His duties are to serve as a behavior-base safety advisor and
provide safety training to Aera Energy LLC employees.  Mr. Hughes
has served on the Board for four years.

LARRY KELLER, Director
Larry Keller, age 46, resides at 3807 Mesa Grande, Bakersfield
California 93304.  Mr. Keller founded and operated Nooner Food
Service from 1979 until 1992, providing on-site food service of
up to 13,000 meals per day at fire camps for the U. S. Forest
Service throughout 11 western states.  He also served as
president, vice president and secretary/treasurer of the Western
Forest Fire Catering Association.  Since 1992 Mr. Keller has been
self-employed at Presidio Business Center, a commercial real
estate management company he owns and manages.  Mr. Keller has
served on the Board for four years.

RONALD NUNLIST, Director
Ronald Nunlist, age 61, resides at 1105 Minter Avenue, Shafter,
California  93263.  Mr. Nunlist was employed in the oil business
for many years.  From 1995 to June 1997 he was employed as an
operations foreman by Cal Resources LLC, an oil industry company
owned by Shell Oil Corporation.  Mr. Nunlist was then employed as
a logistics specialist by Aera Energy LLC, an oil industry
company formed between the Shell Oil and Mobil Oil Corporations
from June 1997 until his retirement in June 1999.  He has served
on the Board for 14 years, including five years as President.

JERALD PETTIBONE, Director and President
Jerry Pettibone, age 73, resides at 4179 Court Drive, Santa Cruz,
California  95062.  He sold and retired from his company,
Pettibone Signs, in Santa Cruz in October 1988.  He started the
company which operated statewide in 1960.  Active in trade
associations, he served on the board of directors of the National
Electric Sign Association, and on the board of directors of the
World Sign Association, serving as national president in 1985-
986.  He served on the board of directors of the California
Electric Sign Association for 22 years and was elected a director
emeritus.  Also active in Rotary Club, he is a charter member and
past president of the Capitola/Aptos Club.  He served as district
governor of Rotary District 5170 in 1983-1984.  He has served on
the Board for seven years, including three years as Chief
Financial Officer, and is currently serving a third year as
President.

RICHARD PROSCHOLD, Director
Richard Proschold, age 70, resides at 5717 Maywood Drive,
Foresthill, California 95631.  Mr. Proschold worked his entire
career in and for the printing and communications industry.  In
1969, he became President/CEO of Graphic Arts Credit Union in
Sacramento, California, which served the families of the
industry with their financial needs.  At the time he took the
helm, the credit union had 400 members.  In 1989, he completed a
merger of Graphic Arts Credit Union and its 5,000 active members
into S.A.F.E. Federal Credit Union, also in Sacramento, to
benefit the membership with more expanded services.  Mr.
Proschold remained with S.A.F.E. until 1992 when he retired, and
has since enjoyed traveling.  In 1996, he became involved as a
volunteer with the Foresthill Community Cemetery, a not-for-
profit corporation.  In January 1997, Mr. Proschold was appointed
by their board to serve as a director and is now currently
serving a two-year term as their President.  Mr. Proschold has
served on the Board for three years.

THOMAS ROURKE, Director and Vice President - Policy
Thomas Rourke is 62 years old.  He resides at 899 Stagi Lane, Los
Altos, California 94024.  Mr. Rourke graduated from the
University of Massachusetts in 1965 with a B.B.A. degree.  He was
vice president of operations at Lynch Communications, Inc., in
Reno, Nevada from 1980-1982, and president of Lynch Circuits,
Inc., in Sunnyvale, California from 1982-1987.  He is currently
president and chairman of the board of Startech Electronics,
Inc., a company that produces electronic products, in Mountain
View, California, a position he has held since 1988.  Mr. Rourke
has served on the board for four years, and is currently serving
as Vice President - Policy.

HENRY VALENTIA, Director
Henry Valentia is 74 years old.   He resides at 2007 Cardinal
Way, Fairfield, California  94533.  He retired from the U.S. Air
Force as a Lieutenant Colonel in 1969.  He has a degree in
industrial management and an A.A. in business administration.
Mr. Valentia also retired from Chevron Corporation as a safety
engineer in 1984.  From June 1979 to June 1984 he served on the
board of directors at Travis Air Force Base Credit Union on its
finance committee.  Mr. Valentia has also served five years as
treasurer and one year as Vice President on the board of
directors for Lawrence Welk Desert Oasis, Palm Springs,
California.  He is currently a director, but is not standing for
reelection at this year's annual meeting.  He has served on the
Board for 13 years, including two years as Vice President -
Administration.

JACK WILLIAMS, Director, Vice President - Finance, and Chief
Financial Officer
Jack Williams is 49 years old.  He resides at 7801 Revelstoke
Way, Bakersfield, California  93309.  Mr. Williams graduated from
San Diego State University in 1974 with a B.S. in accounting.
Following that, he has been employed in the field of accounting
in a variety of industries, including agriculture, construction,
heavy equipment sales, and manufacturing.  Mr. Williams
established his own C.P.A. practice in 1983.  He was employed as
a Financial Analyst by Texaco Oil Corporation in the Bakersfield
area from 1997 until March 1999.  He has served on the Board of
Directors for five years, and is currently serving a third year
as Chief Financial Officer and Vice President - Finance.

CHARLES ZAHKA, Director
Charles Zahka, age 73, resides at 6300 Alonzo Avenue, Encino,
California  91316.  He retired as vice president of the Broadway
Department Stores in 1990 after 20 years.  He presently serves as
a private management consultant.  Mr. Zahka is president of the
Stroke Association of Southern California and vice chairman of
the Better Business Bureau of the Southland.  He has served on
the Board for eleven years, including one year as Secretary and
one year as President.

KURT BRITTAIN, Former Director
Kurt Brittain is 69 years old and resides at 15890 La Porte
Court, Morgan Hill, California  95037.  After his Marine Corps
service, he was employed for more than 33 years by Orange County,
California, before his retirement in 1986.  His background
includes public works, flood control and manager of the county's
harbors, beaches and parks system.  He was in charge of three
harbors, seven beaches and more than 26 parks, three of which
were camping parks.  He has completed extension courses in
business administration, management, recreation and real estate.
He served on the Board for ten years until his resignation in May
1999.  His service included one year as Vice President -
Administration, one year as Vice President - Secretary, and five
years as Executive Vice President.

Other Officers and Key Employees:

JAY JAMISON, Assistant Corporate Secretary and General Manager
Jay Jamison, 46 years old, has been employed by the Company since
June 1997 as General Manager and serves as Assistant Corporate
Secretary.  He resides at 17105 Oak Road, Atascadero, California
93422.  He has a B.S. degree in agricultural management from Cal
Poly San Luis Obispo, graduating in 1976.  Mr. Jamison was raised
on his family's guest ranch, Rancho Oso, in Santa Barbara County,
which included a recreational vehicle park, resident summer camp,
equestrian facilities and numerous resort amenities.  He worked
on the ranch throughout his childhood and after college.  The
family business was sold in 1983 at which time Mr. Jamison was
hired by Thousand Trails, Inc., a private membership resort, as a
Resort Operations Manager.  His last ten years at Thousand Trails
were spent managing a 200-acre, 518 site, full-service resort
located near Hollister, California.  He also managed resorts in
Acton and Idyllwild in Southern California.  Prior to his
employment with the Company, Mr. Jamison was a General Manager
with Skycrest Enterprises in Redding and managed Sugarloaf Marina
and Resort on Lake Shasta in Northern California between January
1995 and June 1997.  He is active in the Resort and Commercial
Recreation Association and is also a member of the American
Quarter Horse Association.  Mr. Jamison was appointed to and has
served as a commissioner on the Pismo Beach Conference and
Visitors Bureau since February 1998, and in August 1999 was
elected as Chair.  At the National Association of RV Parks and
Campgrounds Annual Convention in November 1999, Mr. Jamison was
appointed to the ARVC Board of Directors representing the eight
western states.

ROGER C. LYON, JR., Assistant Corporate Secretary and General
Counsel
Roger C. Lyon, Jr., is a practicing attorney in the State of
California and owns his law firm, Lyon and Carmel, Attorneys-at-
Law.  His business address is 1104 Palm Street, Post Office Box
922, San Luis Obispo, California  93406.  Mr. Lyon has acted as
outside general counsel to the Corporation since 1984.

FURTHER INFORMATION CONCERNING EXECUTIVE OFFICERS AND DIRECTORS

To the knowledge of the Company, none of the officers or
directors have been personally involved in any bankruptcy or
insolvency proceedings.  To the knowledge of the Company, none of
the directors or officers have been convicted in any criminal
proceedings (excluding traffic violations and other minor
offenses) or are the subject of a criminal proceeding which is
presently pending, nor have such persons been the subject of any
order, judgment, or decree of any court of competent
jurisdiction, permanently or temporarily enjoining them from
acting as an investment advisor, underwriter, broker or dealer in
securities, or as an affiliated person, director or insurance
company, or from engaging in or continuing in any conduct or
practice in connection with any such activity or in connection
with the purchase or sale of any security, nor were any of such
persons the subject of a federal or state authority barring or
suspending, for more than 60 days, the right of such person to be
engaged in any such activity, which order has not been reversed
or suspended.

ITEM 10  EXECUTIVE COMPENSATION

No Officer or Director was paid more than $100,000 during the
past fiscal year.


REMUNERATION OF DIRECTORS

The directors received no cash remuneration for their service.
However, the directors are entitled to mileage reimbursement for
travel to and from meetings upon request.  In addition, they are
entitled to use of the Resort for attending meetings and are
provided with food and refreshments in connection with Board
Meetings.  The aggregate value of the foregoing during the fiscal
year ended September 30, 1999, was estimated at $21,788.

OPTIONS, WARRANTS OR RIGHTS

The Company has no outstanding options, warrants or rights to
purchase any of its securities.

INDEBTEDNESS OF MANAGEMENT

No member of management was indebted to the Company during its
 last fiscal year.


ITEM 11     SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS
          MANAGEMENT

(a)  No person owns beneficially of record more than 5% of the
Company's securities.


SECURITY OWNERSHIP OF MANAGEMENT

(b)  The following sets forth the securities beneficially owned,
directly, by all directors and officers as a group as of
September 30, 1999:

<TABLE>
<CAPTION>
                                           Amount of     Percent
Board Member        Title of Class         Ownership    of Class

<S>                 <C>                    <C>            <C>
Howard Allard       Common Stock           1 Share        0.056%
5161 Diablo Ave
Sacramento CA 95842

Emily Barton        Common Stock           2 Shares       0.111%
4008 Glenbrook Ave
Bakersfield CA 93306

Donald Bianchi         Common Stock          2 Shares     0.111%
3605 Belle Terrace
Bakersfield CA 93309

Albert Brown           Common Stock          2 Shares     0.111%
22718 Lone Eagle Rd.
Apple Valley CA 92308

Harry Buchaklian       Common Stock          1 Share      0.056%
1361 E Ticonderoga Dr.
Fresno, CA 93720

Frank Drake            Common Stock          1 Share      0.056%
9511 Birch Creek Ct.
Bakersfield CA 93312

Norman Gould           Common Stock          1 Share      0.056%
10597 Road 30
Madera CA 93637

Glenn Hickman          Common Stock          1 Share      0.056%
3584 W Wathen Ave
Fresno CA 93711

Edward Hinds, Jr.      Common Stock          1 Share      0.056%
3416 W Magill Ave
Fresno CA 93711

Terris Hughes          Common Stock          1 Share      0.056%
2426 Sunset
Wasco CA 93280

Larry Keller           Common Stock          2 Shares     0.111%
3807 Mesa Grande
Bakersfield CA 93304

Ronald Nunlist         Common Stock          4 Shares     0.222%
1105 Minter Ave
Shafter CA 93263

Jerald Pettibone       Common Stock          1 Share      0.056%
4179 Court Dr.
Santa Cruz CA 95062

Richard Proschold       Common Stock          1 Share      0.056%
5717 Maywood Dr.
Foresthill CA 95631-9636

Thomas Rourke           Common Stock          2 Shares     0.111%
899 Stagi Ln
Los Altos CA 94024

Henry Valentia          Common Stock          3 Shares     0.167%
2007 Cardinal Way
Fairfield CA 94533

Jack Williams           Common Stock          1 Share      0.056%
7801 Revelstoke Way
Bakersfield CA 93309

Charles Zahka           Common Stock          2 Shares     0.111%
6300 Alonzo Way
Encino CA 91316

All Officers and
Directors as a Group    Common Stock          29 Shares    1.611%

</TABLE>

All such shares are owned beneficially and of record, there are
no additional shares known to the Company for which the listed
beneficial owner has the right to acquire beneficial ownership as
specified in Rule 13D-3(d)(1) of the Exchange Act.

CHANGES IN CONTROL
Not applicable

ITEM 12  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

There have been no transactions during the past two years, or
proposed transactions, to which the Company was or is to be a
party, in which any of the officers, directors, nominees, named
shareholders, or family members of any such persons, had or is to
have a direct or indirect material interest, other than
transactions where competitive bids determine the rates or
charges involved, or where the amount involved does not exceed
$60,000, or where the interest of the party arises solely from
the ownership of securities of the Company and the party received
no extra or special benefit that was not shared by all
shareholders.

PART IV

ITEM 13     EXHIBITS AND REPORTS ON FORM 8-K

(a.)  Documents Filed as Part of the Report:

Independent Auditor's Report

Balance Sheets as of September 30, 1999 and 1998

Statements of Operations and Retained Earnings (Deficit) for the
years ended September 30, 1999 and 1998

Statements of Cash Flows for the years ended September 30, 1999
and 1998

Notes to Financial Statements


quarter of the period covered by this report.




SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the Company has duly caused this
report to be signed on its behalf by the undersigned, thereunto
duly authorized.

PISMO COAST VILLAGE, INC.

By:     /s/ Jerald Pettibone          Date: November 13, 1999
        Jerald Pettibone, President
        and Chairman of the Board

Pursuant to the requirements of the Securities Exchange Act of
1934, this report has been signed below by the following persons
on behalf of the Company and in the capacities and on the dates
indicated.

By:     /s/ Linda Davidson            Date: November 13, 1999
        Linda Davidson, Controller
        and Principal Accounting Officer

By:     /s/ Jerald Pettibone          Date: November 13, 1999
        Jerald Pettibone, President
        and Chairman of the Board

By:     /s/ Frank Drake               Date: November 13, 1999
        Frank Drake, Executive Vice President
        and Director

By:     /s/ Edward Hinds, Jr.         Date: November 13, 1999
        Edward Hinds, Jr., Vice President - Secretary
        and Director

By:     /s/ Jack Williams             Date: November 13, 1999
        Jack Williams, Chief Financial Officer,
        Vice President - Finance and Director

By:     /s/ Thomas Rourke             Date: November 13, 1999
        Thomas Rourke, Vice President - Policy and Director

By:     /s/ Howard Allard             Date: November 13, 1999
        Howard Allard, Director

By:     /s/ Emily Barton              Date: November 13, 1999
        Emily Barton, Director

By:     /s/ Donald Bianchi          Date: November 13, 1999
        Donald J. Bianchi, Director

By:     /s/ Albert Brown            Date: November 13, 1999
        Albert Brown, Director

By:     /s/Harry Buchaklian         Date: November 13, 1999
        Harry Buchaklian, Director

By:     /s/ Norman Gould            Date: November 13, 1999
        Norman Gould, Director

By:     /s/ Glenn Hickman           Date: November 13, 1999
        Glenn Hickman, Director

By:     /s/ Terris Hughes           Date: November 13, 1999
        Terris Hughes, Director

By:     /s/ Larry Keller            Date: November 13, 1999
        Larry Keller, Director

By:     /s/ Ronald Nunlist          Date: November 13, 1999
        Ronald Nunlist, Director

By:     /s/ Richard Proschold       Date: November 13, 1999
        Richard Proschold, Director

By:     /s/ Henry Valentia          Date: November 13, 1999
        Henry Valentia, Director

By:     /s/ Charles Zahka           Date: November 13, 1999
        Charles Zahka, Director