<TABLE> <S> <C>


<ARTICLE>                     5
<CIK>                         0000741513
<NAME>                                                  PS PARTNERS III, LTD.
<MULTIPLIER>                                                                1
<CURRENCY>                                                              U.S.$
       
<S>                                                                       <C>
<PERIOD-TYPE>                                                           3-MOS
<FISCAL-YEAR-END>                                                 DEC-31-1998
<PERIOD-START>                                                     JAN-1-1998
<PERIOD-END>                                                      MAR-31-1998
<EXCHANGE-RATE>                                                             1
<CASH>                                                              1,552,000
<SECURITIES>                                                                0
<RECEIVABLES>                                                          85,000
<ALLOWANCES>                                                                0
<INVENTORY>                                                                 0
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<PP&E>                                                             16,399,000
<DEPRECIATION>                                                    (6,824,000)
<TOTAL-ASSETS>                                                     25,693,000
<CURRENT-LIABILITIES>                                                 201,000
<BONDS>                                                                     0
<PREFERRED-MANDATORY>                                                       0
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<OTHER-SE>                                                         25,492,000
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<CGS>                                                                       0
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<LOSS-PROVISION>                                                            0
<INTEREST-EXPENSE>                                                          0
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<CHANGES>                                                                   0
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<EPS-PRIMARY>                                                            6.28
<EPS-DILUTED>                                                            6.28
        

</TABLE>