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


March 26, 2003


Securities and Exchange Commission
Washington, DC  20549

Ladies & Gentlemen:

Pursuant to the  requirements  of the  Securities  Exchange Act of 1934,  we are
submitting  herewith for filing on behalf of Textainer  Equipment Income Fund V,
L.P. (the  "Partnership")  the Partnership's  Annual Report on Form 10-K for the
fiscal year ended December 31, 2002.

The financial  statements included in the enclosed Annual Report on Form 10-K do
not reflect a change from the  preceding  year in any  accounting  principles or
practices, or in the method of applying any such principles or practices.

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-K

                ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

                   For the fiscal year ended December 31, 2002

                         Commission file number 0-25946

                     TEXTAINER EQUIPMENT INCOME FUND V, L.P.
                     ---------------------------------------
             (Exact name of Registrant as specified in its charter)

                 California                                   93-1122553
       (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)

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

                                      NONE

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

                          LIMITED PARTNERSHIP INTERESTS
                                (Title of Class)

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. [ X ]

Indicate by check mark if disclosure of delinquent  filers  pursuant to Item 405
of Regulation  S-K is not contained  herein,  and will not 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-K or any amendment to this
Form 10-K. [ X ]

Indicate  by check mark  whether  the  registrant  is an  accelerated  filer (as
defined in Exchange Act Rule 12b-2). [ ]

State the aggregate market value of the voting and non-voting common equity held
by nonaffiliates of the Registrant. The aggregate market value shall be computed
by  reference to the price at which the common  equity was sold,  or the average
bid and ask prices of such common  equity,  as of the last  business  day of the
registrant's most recently completed second fiscal quarter. Not Applicable.
                                                            --------------
Documents Incorporated by Reference

The Registrant's Prospectus as contained in Pre-Effective Amendment No. 3 to the
Registrant's  Registration  Statement,  as filed with the Commission on April 8,
1994, as supplemented by  Post-Effective  Amendment No. 2 as filed under Section
8(c) of the  Securities  Act of  1933  on May 5,  1995  and as  supplemented  by
Supplement  No. 5 as filed  under Rule 424(b) of the  Securities  Act of 1933 on
March 18, 1996.


<PAGE>





                                     PART I

ITEM 1.      DESCRIPTION OF BUSINESS

For more detailed information about the Registrant's  business, see "Business of
the Partnership" in the Registrant's Prospectus as supplemented.

(a)       General Development of Business

          The Registrant is a California Limited  Partnership formed on July 15,
          1993 to purchase,  own, operate, lease, and sell equipment used in the
          containerized  cargo  shipping  industry.   The  Registrant  commenced
          offering units representing  limited partnership  interests (Units) to
          the  public  on  May 1,  1994  in  accordance  with  its  Registration
          Statement  and ceased to offer such  Units as of April 29,  1996.  The
          Registrant  raised  a total  of  $89,305,260  from  the  offering  and
          invested a substantial  portion of the money raised in equipment.  The
          Registrant  has since  engaged in leasing this and other  equipment in
          the international shipping industry.

          See Item 10  herein  for a  description  of the  Registrant's  General
          Partners.  See Item 7  herein  for a  description  of  current  market
          conditions affecting the Registrant's business.

(b)       Financial Information About Industry Segments

          Inapplicable.

(c)       Narrative Description of Business

(c)(1)(i)      A  container leasing  company   generally,  and   the  Registrant
               specifically, is an operating business comparable to a rental car
               business.  A  customer  can  lease  a car  from  a  bank  leasing
               department for a monthly charge which  represents the cost of the
               car, plus interest,  amortized over the term of the lease; or the
               customer  can rent the same car from a rental  car  company  at a
               much higher daily lease rate.  The customer is willing to pay the
               higher daily rate for the convenience  and  value-added  features
               provided by the rental car company,  the most  important of which
               is the  ability  to pick up the car where it is most  convenient,
               use it for the desired  period of time, and then drop it off at a
               location convenient to the customer. Rental car companies compete
               with one  another on the basis of lease  rates,  availability  of
               cars,  and the  provision of additional  services.  They generate
               revenues by  maintaining  the highest lease rates and the highest
               utilization that market  conditions will allow, and by augmenting
               this income with proceeds from sales of insurance, drop-off fees,
               and other special  charges.  A large percentage of lease revenues
               earned by car rental companies are generated under corporate rate
               agreements wherein,  for a stated period of time,  employees of a
               participating  corporation  can  rent  cars  at  specific  terms,
               conditions and rental rates.

               Container  leasing  companies  and the  Registrant  operate  in a
               similar  manner  by  owning  a  worldwide  fleet  of new and used
               transportation   containers  and  leasing  these   containers  to
               international  shipping  companies hauling various types of goods
               among numerous trade routes.  All lessees pay a daily rental rate
               and in certain  markets  may pay  special  handling  fees  and/or
               drop-off charges. In addition to these fees and charges, a lessee
               must either provide  physical  damage and liability  insurance or
               purchase a damage waiver from the  Registrant,  in which case the
               Registrant  agrees to pay the cost of repairing  certain physical
               damage to containers.  Container  leasing  companies compete with
               one another on the basis of lease rates,  fees charged,  services
               provided   and   availability   of   equipment.   To  ensure  the
               availability  of equipment to its  customers,  container  leasing
               companies and the  Registrant  may pay to  reposition  containers
               from  low  demand  locations  to  higher  demand  locations.   By
               maintaining  the highest  lease  rates and the highest  equipment
               utilization allowed by market conditions, the Registrant attempts
               to generate revenue and profit.

               The majority of the Registrant's equipment is leased under master
               operating  leases,  which are  comparable to the  corporate  rate
               agreements  used by  rental  car  companies.  The  master  leases
               provide that the lessee, for a specified period of time, may rent
               containers  at  specific  terms,  conditions  and  rental  rates.
               Although the terms of the master lease  governing  each container
               under lease do not vary, the number of containers in use can vary
               from time to time within the term of the master lease.  The terms
               and conditions of the master lease provide that the lessee pays a
               daily  rental  rate for the entire time the  container  is in his
               possession   (whether  or  not  he  is  actively  using  it),  is
               responsible for any damage, and must insure the container against
               liabilities.

               A substantial  portion of the  Partnership's  equipment is leased
               under  long-term  lease  agreements,  rather than master  leases.
               Unlike  master  lease  agreements,   long-term  lease  agreements
               provide for  containers to be leased for periods of between three
               to five  years.  Such  leases  are  generally  cancelable  with a
               penalty at the end of each  twelve-month  period.  Direct finance
               leases currently cover a minority of the Partnership's equipment.
               Under direct  finance  leases,  the containers are usually leased
               from the Partnership for the remainder of the container's  useful
               life with a purchase  option at the end of the lease term.  For a
               more  detailed  discussion  of the  leases  for the  Registrant's
               equipment,   see  "Leasing   Policy"   under   "Business  of  the
               Partnership" in the Registrant's Prospectus as supplemented.  The
               Registrant also sells containers in the course of its business as
               opportunities arise, at the end of the container's useful life or
               if market and economic  considerations indicate that a sale would
               be   beneficial.   See  Item  7  herein  and   "Business  of  the
               Partnership" in Registrant's Prospectus, as supplemented.

(c)(1)(ii)     Inapplicable.

(c)(1)(iii)    Inapplicable.

(c)(1)(iv)     Inapplicable.

(c)(1)(v)      Inapplicable.

(c)(1)(vi)     Inapplicable.

(c)(1)(vii)    No single  lessee  generated lease  revenue  for  the years ended
               December 31, 2002, 2001, and 2000 which  was  10%  or more of the
               total revenue of the Registrant.

(c)(1)(viii)   Inapplicable.

(c)(1)(ix)     Inapplicable.

(c)(1)(x)      There are  approximately 80 container leasing  companies of which
               the top ten control approximately 85% of the total equipment held
               by all container leasing companies. The top two container leasing
               companies  combined  control   approximately  26%  of  the  total
               equipment  held by all  container  leasing  companies.  Textainer
               Equipment Management Limited, an Associate General Partner of the
               Registrant and the manager of its marine container equipment,  is
               the largest  standard dry freight  container  leasing company and
               manages  approximately 14% of the equipment held by all container
               leasing  companies.  The  customers  for  leased  containers  are
               primarily  international  shipping lines. The Registrant alone is
               not a material  participant  in the worldwide  container  leasing
               market.   The  principal   methods  of  competition   are  price,
               availability  and  the  provision  of  worldwide  service  to the
               international  shipping  community.  Competition in the container
               leasing market has increased over the past few years. Since 1996,
               shipping  alliances and other  operational  consolidations  among
               shipping  lines have allowed  shipping  lines to begin  operating
               with fewer containers,  thereby  decreasing the demand for leased
               containers and allowing  lessees to gain concessions from lessors
               about price,  special charges or credits and, in certain markets,
               the age  specification  of the  containers  leased.  Furthermore,
               primarily  as a result  of lower  new  container  prices  and low
               interest  rates,  shipping  lines now own,  rather than lease,  a
               higher  percentage  of  containers.  The  decrease in demand from
               shipping  lines,  along  with the  entry of new  leasing  company
               competitors  offering low container  rental rates,  has increased
               competition among container lessors such as the Registrant.

               Furthermore, changes in worldwide demand for shipping have placed
               additional strains on competition.  Utilization of containers can
               be maximized if containers  that come  off-lease can be re-leased
               in the same location.  If demand for containers is strong in some
               parts of the  world  and weak in  others,  containers  that  come
               off-lease   may  have  to  be   repositioned,   usually   at  the
               Registrant's expense, before they can be re-leased. Over the last
               several years,  demand for goods brought into Asia has been lower
               than demand for goods  brought out of Asia.  This  imbalance  has
               created low demand  locations in certain  areas of  international
               shipping  routes,  where  containers  coming  off-lease after the
               delivery of goods cannot quickly be re-leased. The Registrant has
               frequently been required to reposition  containers from these low
               demand locations, or to sell containers, if an analysis indicates
               that the sale may yield greater economic  benefits than continued
               ownership,  given the costs of  repositioning  and  estimates  of
               future rental rates and  opportunities.  Containers sold in these
               low demand  locations  have  frequently  been  older  containers.
               Shipping lines have an advantage over container leasing companies
               with respect to these low demand locations,  because the shipping
               companies can frequently  reposition their own containers,  while
               leasing  companies have to find alternative ways of repositioning
               their containers, including offering incentives to shipping lines
               or paying directly for the repositioning.

(c)(1)(xi)     Inapplicable.

(c)(1)(xii)    Inapplicable.

(c)(1)(xiii)   The  Registrant  has  no employees. Textainer Capital Corporation
               (TCC),  the  Managing  General  Partner  of  the  Registrant,  is
               responsible  for the overall  management  of the  business of the
               Registrant  and at December 31, 2002 had 3  employees.  Textainer
               Equipment Management Limited (TEM), an Associate General Partner,
               is responsible  for the  management of the leasing  operations of
               the  Registrant  and at  December  31,  2002  had a total  of 147
               employees.

(d)       Financial Information about Foreign and Domestic Operations and Export
          Sales.

          The  Registrant  is involved in the leasing of shipping  containers to
          international   shipping   companies   for  use  in  world  trade  and
          approximately  6%,  11% and  13% of the  Registrant's  rental  revenue
          during the years ended December 31, 2002, 2001 and 2000, respectively,
          was derived from operations sourced or terminated domestically.  These
          percentages do not reflect the proportion of the Partnership's  income
          from  operations  generated  domestically  or in  domestic  waterways.
          Substantially  all of the  Partnership's  income  from  operations  is
          derived from assets employed in foreign  operations.  See "Business of
          the Partnership",  in the Registrant's Prospectus, as supplemented and
          for a discussion of the risks of leasing  containers  for use in world
          trade,  see "Risk Factors and  Forward-Looking  Statements"  in Item 7
          herein.
<PAGE>

ITEM 2.      PROPERTIES

As of December 31, 2002, the Registrant owned the following types and quantities
of equipment:

         20-foot standard dry freight containers                   9,881
         40-foot standard dry freight containers                  10,099
         40-foot high cube dry freight containers                  4,702
                                                                  ------
                                                                  24,682
                                                                  ======

During  December 2002,  approximately  84% of these  containers were on lease to
international shipping companies, and the balance were being stored primarily at
a large  number of storage  depots  located  worldwide.  The  Partnership  sells
containers  when (i) a  container  reaches the end of its useful life or (ii) an
analysis  indicates  that  the  sale  is  warranted  based  on  existing  market
conditions and the container's age, location and condition.

For  information  about  the  Registrant's   property,   see  "Business  of  the
Partnership" and "Risk Factors" in the Registrant's Prospectus, as supplemented.
See also Item 7, "Results of Operations"  for more  information  about container
sales, possible future write-downs,  as well as the location of the Registrant's
off-lease containers.

ITEM 3.      LEGAL PROCEEDINGS

The Registrant is not subject to any legal proceedings.

ITEM 4.      SUBMISSION OF MATTERS TO A VOTE OF SECURITIES HOLDERS

Inapplicable.

                                     PART II

ITEM 5.      MARKET  FOR THE REGISTRANT'S COMMON  EQUITY AND RELATED STOCKHOLDER
             MATTERS

PART 201:

(a)               Market Information.

(a)(1)(i)           The Registrant's  limited partnership Units are not publicly
                    traded and there is no  established  trading market for such
                    Units. The Registrant has a program whereby limited partners
                    may  redeem  Units for a  specified  redemption  price.  The
                    program  operates  only when the  Managing  General  Partner
                    determines,  among other matters,  that payment for redeemed
                    units  will not  impair the  capital  or  operations  of the
                    Registrant.

(a)(1)(ii)          Inapplicable.

(a)(1)(iii)         Inapplicable.

(a)(1)(iv)          Inapplicable.

(a)(1)(v)           Inapplicable.

(a)(2)              Inapplicable.

(b)          Holders.

(b)(1)              As of January 1,  2003,  there were 4,780  holders of record
                    of limited partnership interests in the Registrant.

(b)(2)              Inapplicable.

(c)          Dividends.

                    Inapplicable.

At December 31, 2002, the Registrant was paying  distributions  at an annualized
rate equal to 5% of a Unit's initial cost, or $1.00 per Unit. For the year ended
December  31,  2001,  the  Registrant  was paying  monthly  distributions  at an
annualized  rate of 6.2% of a Unit's  initial  cost,  or  $1.23  per  Unit.  For
information  about the amount of distributions  paid during the five most recent
fiscal years,  see Item 6, "Selected  Financial  Data."  Distributions  are made
monthly by the Registrant to its limited partners.

PART 701:           Inapplicable.
<PAGE>

<TABLE>
<CAPTION>

ITEM 6.      SELECTED FINANCIAL DATA
                                                          (Amounts in thousands except for per unit amounts)
                                                                       Years Ended December 31,
                                               ------------------------------------------------------------------------
                                                      2002          2001          2000           1999           1998
                                                      ----          ----          ----           ----           ----
<S>                                              <C>            <C>           <C>           <C>            <C>
Rental income...........................          $  9,600      $ 10,169      $ 12,584       $ 12,031       $ 14,265

(Loss) income from operations...........          $   (526)     $     37      $  3,143       $  1,100       $  3,653

Net (loss) earnings.....................          $   (512)     $    108      $  3,278       $  1,171       $  3,697

Net (loss) earnings per unit of
  limited partner interest..............          $  (0.12)     $   0.01      $   0.72       $   0.25       $   0.81

Distributions per unit of
  limited partner interest..............          $   1.00      $   1.23      $   1.40       $   1.45       $   1.72

Distributions per unit of limited
   partner interest representing
   return of capital....................          $   1.00      $   1.22      $   0.68       $   1.20       $   0.91

Total assets............................          $ 46,425      $ 51,721      $ 57,638       $ 60,224       $ 65,390


</TABLE>

<PAGE>


ITEM 7.      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  for the years ended December 31, 2002,
2001 and 2000.  Please refer to the  Financial  Statements  and Notes thereto in
connection with the following discussion.

Textainer  Capital  Corporation  (TCC) is the  Managing  General  Partner of the
Partnership.  Textainer Equipment Management Limited (TEM) and Textainer Limited
(TL) are Associate  General  Partners of the  Partnership.  The General Partners
manage and control the affairs of the Partnership.

Liquidity and Capital Resources

From  May 1,  1994  until  April  29,  1996,  the  Partnership  offered  limited
partnership  interests  to the  public.  The  Partnership  received  its minimum
subscription  amount  of $5,000 on  August  23,  1994 and on April 29,  1996 the
Partnership's offering of limited partnership interests was closed at $89,305.

The Partnership invests working capital,  cash flow from operations prior to its
distribution  to the partners and proceeds  from  container  sales that have not
been used to purchase  containers  in  short-term,  liquid  investments.  Rental
income is the  Partnership's  principal source of liquidity and provides a major
source  of  funds  for  distributions.  Rental  income  is  affected  by  market
conditions for leased containers.  Market conditions are discussed more fully in
"Results of Operations. " 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.

Limited partners are currently receiving monthly  distributions in an annualized
amount equal to 5% of their original investment.  During the year ended December
31, 2002,  the  Partnership  declared  cash  distributions  to limited  partners
pertaining to the period from December 2001 through November 2002, in the amount
of  $4,443.  On a cash basis  (after  paying  redemptions  and  general  partner
distributions),  $4,096 of these  distributions were from current year operating
activities  and the balance was a return of  capital.  On a financial  statement
basis, all of these distributions were a return of capital.

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 year ended  December 31,  2002,  the
Partnership  redeemed  15,960  units  for a total  dollar  amount  of $132.  The
Partnership used cash flow from operations to pay for the redeemed units.

At December 31, 2002, the Partnership had no commitments to purchase containers.

Net cash provided by operating  activities for the years ended December 31, 2002
and 2001 was $4,274 and $5,875,  respectively.  The decrease of $1,601,  or 27%,
was primarily  attributable to fluctuations in gross accounts receivable and due
from  affiliates,  net,  as well as the  fluctuations  in net  earnings  (loss),
adjusted for non cash  transactions.  Gross accounts  receivable  increased $254
during the year ended  December 31, 2002,  primarily  due to the increase in the
average  collection  period of  accounts  receivable  offset by the  decrease in
rental income. The decrease in gross accounts receivable of $734 during the year
ended  December 31, 2001,  was primarily  due to the decrease in rental  income.
Fluctuations in due from affiliates, net resulted from timing differences in the
payment of expenses,  fees and  distributions  and the  remittance of net rental
revenues and  container  sales  proceeds,  as well as in  fluctuations  in these
amounts.  Net earnings (loss),  adjusted for non-cash  transactions,  fluctuated
primarily due to the decrease in rental income, and was offset by the decline in
direct container  expenses.  These items are discussed more fully in "Results of
Operations".

For the year ended December 31, 2002, net cash provided by investing  activities
(the  purchase  and sale of  containers)  was $284  compared to net cash used in
investing  activities of $1,167 for the same period in 2001. The  fluctuation of
$1,451 was primarily  due to the decrease in cash used for container  purchases.
The  decrease in cash used for  container  purchases  was  primarily  due to the
Partnership  purchasing fewer containers during the year ended December 31, 2002
than in the  same  period  in  2001.  Proceeds  from  container  sales  remained
comparable between the periods. The number of containers sold during the periods
was  comparable,  however,  the average sales price received on container  sales
decreased  between the  periods.  The sales price  received on  container  sales
continued  to  decrease  as a result of current  market  conditions,  which have
adversely  affected the value of used  containers.  Until demand for  containers
improves  in certain low demand  locations,  the  Partnership  plans to continue
selling some of its container that are off-lease in these locations.  The number
of containers  sold both in low demand  locations and elsewhere,  as well as the
average  sales prices will affect how much the  Partnership  can reinvest in new
containers.

Consistent  with its  investment  objectives  and  subject  to its  distribution
policy,  the  Partnership  intends  to  continue  to  reinvest  both  cash  from
operations  available for reinvestment and all, or a significant  amount of, the
proceeds from container  sales in additional  containers.  Cash from  operations
available  for  reinvestment  is generally  equal to cash  provided by operating
activities,  less  distributions  and redemptions paid, which are subject to the
General  Partners'  authority  to set these  amounts  (and modify  reserves  and
working  capital),  as provided in the  Partnership  Agreement.  During the year
ended December 31, 2002, there was no cash from operations available to reinvest
in additional  containers.  The amount of sales proceeds will fluctuate based on
the number of  containers  sold and the sales price  received.  The  Partnership
sells containers when (i) a container reaches the end of its useful life or (ii)
an  analysis  indicates  that the sale is  warranted  based on  existing  market
conditions and the container's age, location and condition.

Both cash from  operations  available for  reinvestment  and sales proceeds have
been  adversely  affected by market  conditions.  These market  conditions  have
resulted in a slower than anticipated rate of  reinvestment.  Market  conditions
are  discussed  more fully  under  "Results  of  Operations."  A slower  rate of
reinvestment  will, over time,  affect the size of the  Partnership's  container
fleet. Furthermore, even with reinvestment,  the Partnership is not likely to be
able to replace all the  containers  it sells,  since new  container  prices are
usually  higher  than the  average  sales  price for a used  container,  and the
majority of cash available for reinvestment is from sales proceeds.

Results of Operations

The  Partnership's  income from operations,  which consists  primarily of rental
income  less  costs  and  expenses  (including  container  depreciation,  direct
container  expenses,   management  fees,  and  reimbursement  of  administrative
expenses)  was directly  related to the size of the  container  fleet during the
years ended  December 31, 2002,  2001 and 2000, 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:

                                                   2002      2001      2000
                                                   ----      ----      ----

      Beginning container fleet...............   24,885    24,532    23,810
      Ending container fleet..................   24,682    24,885    24,532
      Average container fleet.................   24,784    24,709    24,171

As noted above,  when containers are sold in the future,  sales proceeds are not
likely to be sufficient to replace all of the containers  sold,  which is likely
to result in a trend toward a smaller  average  container  fleet.  Other factors
related to this trend are discussed above in "Liquidity and Capital Resources".

Rental  income and direct  container  expenses are also  affected by the average
utilization of the container fleet,  which was 68%, 64% and 82% during the years
ended December 31, 2002, 2001 and 2000,  respectively.  The remaining  container
fleet is off-lease and is located primarily at a large number of storage depots.
At December 31, 2002 and 2001,  utilization was 84% and 56%,  respectively,  and
the  Partnership's  off-lease  containers  (in  units)  were  in  the  following
locations:


                                                   2002           2001
                                                   ----           ----

           Americas                               1,963          2,184
           Europe                                 1,292          1,738
           Asia                                     562          6,334
           Others                                   155            226
                                                  -----         ------

           Total off-lease containers             3,972         10,482
                                                  =====         ======


In addition to utilization, rental income is affected by daily rental rates. The
average daily rental rate decreased 12% between the periods. The decrease in the
average  rental  rate was due to  declines  in both  master  and long term lease
rates,  which  are the two  principal  types  of  leases  for the  Partnership's
containers.  The majority of the Partnership's  rental income was generated from
leasing of the Partnership's  containers under master operating  leases,  but in
the past several years, the percentage of the Partnership's  containers on lease
under  long  term  leases  has  increased.   At  December  31,  2002  and  2001,
approximately 36% of the Partnership's  containers were on lease under long term
leases.  Long term leases  generally  have lower rental rates than master leases
because the lessees have  contracted to lease the  containers  for several years
and  cannot  return  the  containers  prior to the  termination  date  without a
penalty.  Fluctuations in rental rates under either type of lease generally will
affect the Partnership's operating results.

The  following is a comparative  analysis of the results of  operations  for the
years ended December 31, 2002, 2001 and 2000.

The Partnership's (loss) income from operations for the years ended December 31,
2002 and 2001 was ($526) and $37,  respectively,  on rental income of $9,600 and
$10,169,  respectively.  The decrease in rental  income of $569, or 6%, from the
year ended December 31, 2001 to the comparable  period in 2002 was  attributable
to a decrease in container rental income,  offset by an increase in other rental
income,  which is discussed  below.  Income from  container  rentals,  the major
component  of  total  revenue,  decreased  $669,  or  7%,  primarily  due to the
decreases in average rental rates of 12%,  offset by the increase in the average
on-hire utilization of 6% between the periods.

The  Partnership's  income from operations for the years ended December 31, 2001
and 2000 was $37 and  $3,143,  respectively,  on rental  income of  $10,169  and
$12,584, respectively. The decrease in rental income of $2,415, or 19%, from the
year ended December 31, 2000 to the comparable  period in 2001 was  attributable
to a decrease in container rental income,  offset by an increase in other rental
income. Income from container rentals decreased $2,623, or 23%, primarily due to
the decrease in the average on-hire  utilization of 22% and average rental rates
of 3% between the periods.

In the fourth  quarter of 2000,  utilization  began to decline and  continued to
decline  during 2001 and the  beginning  of 2002.  This decline was due to lower
overall  demand by shipping lines for leased  containers,  which was primarily a
result of the worldwide economic slowdown.  Two other factors reduced the demand
for leased  containers.  Shipping  lines added larger  vessels to their  fleets,
which  combined with lower cargo volume  growth,  made it easier for them to use
otherwise  empty vessel space to reposition  their own  containers  back to high
demand  locations.  Additionally,  in anticipation of the delivery of these new,
larger  vessels,  many shipping  lines placed large orders for new containers in
2000 and 2001, thus temporarily  reducing their need to lease containers.  These
orders  for  additional  containers  are part of a  general  increase  in vessel
capacity for the shipping lines.  This increase in vessel  capacity  amounted to
12% in 2001 and 10% in 2002.

Utilization  has improved  steadily since March 2002 through the end of 2002 due
to:
o      An increase  in export  cargo out of Asia
o      Prior repositioning  of containers to Asia which placed large  quantities
       of containers in areas of high demand
o      Disposal of older  containers and  fewer  purchases  of new containers by
       both  container  lessors and  shipping  lines in 2001 and 2002, resulting
       in an overall  better-balanced  supply of  containers
o      The labor disagreement  that affected U.S.  West Coast ports in the third
       and  part  of  the fourth  quarter  had  short-term   positive effects on
       demand  for containers as  shipping lines  were  not  able to  reposition
       enough containers to Asia and  had to lease more containers to meet their
       customers' demands

Although  utilization  appears to have  stabilized in the beginning of 2003, the
General Partners caution that market  conditions could  deteriorate again due to
global economic conditions.  Demand for leased containers could therefore weaken
again and result in a decrease  in  utilization  and  further  declines in lease
rates and container sale prices, adversely affecting the Partnership's operating
results.

Despite the  improvement  in  utilization,  the  Partnership  continues  to sell
(rather than reposition) some older containers  located in low demand locations,
but  primarily  only  those  containers  that were  damaged.  For the  number of
off-lease  containers  located in the lower demand locations in the Americas and
Europe, see chart above. 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.

Current market  conditions  continue to cause a decline in the economic value of
used containers.  The average sales price for containers sold by the Partnership
as well as other  Partnerships  managed by the General  Partners has  decreased.
Additionally,  other Partnerships  managed by the General Partners have recorded
write-downs  and losses on certain older  containers.  Many of these  containers
have been  located in low demand  locations.  There have been no such  losses or
write-downs  recorded by the  Partnership  primarily due to the young age of the
Partnership's  container  fleet.  Sales by the  Partnership  in these low demand
locations have been generally  limited to damaged  containers.  However,  as the
container fleet ages, the Partnership may incur losses and/or write-downs on the
sale of its older containers located in low demand locations, if existing market
conditions   continue.   The  Partnership  will  continue  to  evaluate  whether
write-downs are necessary for its container rental equipment.

New  container  prices  steadily  declined  from  1995  through  1999.  Although
container prices increased in 2000, these prices declined again in 2001 and have
remained low during 2002.  As a result the cost of new  containers  purchased in
recent years is 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 for containers to be held for continued use
as  well  as for  containers  identified  for  sale in the  ordinary  course  of
business.  Based on this evaluation,  the Partnership determined that reductions
to the carrying  value of these  containers  were not required  during the years
ended December 31, 2002, 2001 and 2000.

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  related to leasing and
returning  containers (handling income) and income from charges to lessees for a
Damage Protection Plan (DPP). For the year ended December 31, 2002, the total of
these  other  rental  income  items was  $1,331,  an  increase  of $100 from the
equivalent period in 2001. The increase in other rental income was primarily due
to the  increase  in handling  income of $159,  offset by a decrease in location
income of $41.  The  increase  in  handling  income was due to the  increase  in
container  movement  and  the  increase  in  the  average  handling  charge  per
container.  Location income decreased primarily due to the decline in charges to
lessees for dropping off containers in surplus location, offset by a decrease in
credits granted to lessees for picking up container from surplus locations.

For the year ended  December  31, 2001,  the total of these other rental  income
items was $1,231,  an increase of $208 from the  equivalent  period in 2000. The
increase in other rental  income was  primarily  due to the increase in location
income of $226.  Location income  increased  primarily due to (i) an increase in
charges to lessees for dropping off  containers in certain  locations;  and (ii)
the decline in credits granted to lessees for picking up containers from surplus
locations as there were fewer lease-out opportunities for which credits could be
offered.

Direct container  expenses  decreased $430, or 12%, from the year ended December
31, 2001 to the equivalent period in 2002. The decrease was primarily due to the
declines in repositioning  and storage expenses of $254 and $229,  respectively,
offset  by the  increase  in  handling  expense  of $75.  Repositioning  expense
decreased  due to shorter  average  repositioning  moves  resulting in decreased
average repositioning costs per container,  offset by the increase in the number
of  containers  repositioned.  Storage  expense  decreased  primarily due to the
increase  in  average  utilization  noted  above.   Handling  expense  increased
primarily due to the increase in container movement.

Direct container  expenses  increased $832, or 29%, from the year ended December
31, 2000 to the equivalent period in 2001, primarily due to increases in storage
expenses of $963,  partially  offset by a decrease  in handling  expense of $66.
Storage expense increased  primarily due to the decrease in average  utilization
noted above. Handling expense decreased due to a decline in the average handling
charge per container and a decline in container  movement  during the year ended
December 31, 2001 compared to the equivalent period in 2000.

Bad debt expense (benefit) was $37, ($5) and ($143) for the years ended December
31,  2002,  2001  and  2000,  respectively.  Fluctuations  in bad  debt  expense
(benefit)  reflect the  adjustment  to the bad debt  allowance  and are based on
management's then current  estimates of the portion of accounts  receivable that
may not be  collected,  and  which  will  not be  covered  by  insurance.  These
estimates  are  based  primarily  on  management's  current  assessment  of  the
financial condition of the Partnership's lessees and their ability to make their
required payments.  The expense recorded during the year ended December 31, 2002
reflects the addition to bad debt  allowance,  after  deductions  had been taken
against the reserve.  The benefits  recorded during the years ended December 31,
2001 and 2000 reflect lower reserve estimates from December 31, 2000 and 1999.

Depreciation expense increased $417, or 9% from the year ended December 31, 2001
to 2002  primarily  due to an increase in the  depreciation  rate as a result of
changes in  estimated  salvage  values as discussed  below.  For the years ended
December 31, 2001 and 2000,  depreciation  expense was  comparable at $4,793 and
$4,738, respectively.

Effective  July 1, 2002,  the  Partnership  revised its estimate  for  container
salvage  value from a  percentage  of equipment  cost to an  estimated  residual
dollar value. The effect of this change for the year ended December 31, 2002 was
an increase to depreciation  expense of $418. The Partnership  will evaluate the
estimated  residual values and remaining  estimated  useful lives on an on-going
basis and will revise its estimates as needed. As a result, depreciation expense
may fluctuate in future periods based on  fluctuations  in these  estimates.  If
estimates  regarding  residual value and remaining useful life of the containers
were to decline,  depreciation  expense would increase,  adversely affecting the
Partnership's operating results.

Management fees to affiliates decreased $101, or 11%, and $200, or 18%, from the
years ended  December 31, 2001 to 2002,  and  December  31, 2000 to 2001.  These
decreases were due to decreases in both equipment and incentive management fees.
Equipment  management  fees decreased due to the decline in rental income,  upon
which  equipment   management  fees  are  primarily   based.   These  fees  were
approximately 7% of rental income for these periods.  Incentive management fees,
which are based on the Partnership's  limited and general partner  distributions
made from cash from operations and partners' capital decreased  primarily due to
the  decrease  in the  amount of  distributions  paid from cash from  operations
between the periods.

General and administrative  costs to affiliates decreased $4, or 1%, and $91, or
15%,  from the years ended  December  31, 2001 to 2002 and  December 31, 2000 to
2001,  respectively.  These  decreases  were  primarily  due to decreases in the
allocation of overhead costs from TEM, as the Partnership  represented a smaller
portion of the total fleet managed by TEM.

The  Partnership  Agreement  provides  for the  ongoing  payment to the  General
Partners of the management fees and the reimbursement of the expenses  discussed
above.  Since these fees and expenses are  established  by the  Agreement,  they
cannot be considered the result of arms' length negotiations with third parties.
The Partnership Agreement was formulated at the Partnership's  inception and was
part of the terms  upon which the  Partnership  solicited  investments  from its
limited partners. The business purpose of paying the General Partners these fees
is to  compensate  the  General  Partners  for the  services  they render to the
Partnership.  Reimbursement  for  expenses  is made to offset  some of the costs
incurred by the General  Partners in managing the  Partnership and its container
fleet.  More details about these fees and expenses are included in footnote 2 to
the Financial Statements.
<PAGE>

Other general and  administrative  costs increased $67, or 51%, and $29, or 28%,
from the years ended  December  31, 2001 to 2002 and  December 31, 2000 to 2001,
respectively.  The  increases  were  primarily due to increases in other service
fees between the periods.

Gain  (loss) on sale of  containers  was $12,  ($10) and ($50)  during the years
ended December 31, 2002, 2001 and 2000,  respectively.  These  fluctuations were
primarily due to the Partnership  selling  containers for an average gain during
2002,  despite the decline in average  container sales prices and average losses
during 2001 and 2000.

Net earnings loss per limited partnership unit fluctuated from earnings of $0.01
to a loss of $0.12 from the year ended  December  31, 2001 to the same period in
2002, respectively, reflecting the fluctuation in net earnings loss allocated to
limited  partners  from  earnings  of $56 to a loss of $553,  respectively.  Net
earnings per limited  partnership  unit  decreased  from $0.72 to $0.01 from the
year  ended  December  31,  2000  to the  same  period  in  2001,  respectively,
reflecting  the decrease in net  earnings  allocated  to limited  partners  from
$3,215 to $56, respectively. The allocation of net earnings (loss) for the years
ended December 31, 2002, 2001 and 2000,  included a special  allocation of gross
income of $46, $51 and $30, respectively,  to the General Partners in accordance
with the Partnership Agreement.

Critical Accounting Policies and Estimates

The Partnership's discussion and analysis of its financial condition and results
of operations are based upon the Partnership's financial statements,  which have
been prepared in accordance with accounting principles generally accepted in the
United States of America.  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. The Partnership's management evaluates its estimates on an
on-going  basis,  including  those  related to the container  rental  equipment,
accounts receivable and accruals.

These  estimates  are  based  on  historical  experience  and on  various  other
assumptions  that are believed to be  reasonable  under the  circumstances,  the
results of which  form the basis for making  judgments  regarding  the  carrying
values of assets  and  liabilities.  Actual  results  could  differ  from  those
estimates  under  different   assumptions  or  conditions.   The   Partnership's
management  believes the following critical  accounting policies affect its more
significant  judgments and estimates  used in the  preparation  of its financial
statements.

The Partnership  maintains allowances for doubtful accounts for estimated losses
resulting  from the  inability of its lessees to make required  payments.  These
allowances  are  based  on  management's  current  assessment  of the  financial
condition of the Partnership's  lessees and their ability to make their required
payments.  If the  financial  condition  of the  Partnership's  lessees  were to
deteriorate,  resulting  in an  impairment  of their  ability to make  payments,
additional  allowances  may  be  required,  which  would  adversely  affect  the
Partnership's operating results.

The  Partnership  depreciates  its container  rental  equipment based on certain
estimates  related to the  container's  useful  life and  salvage  value.  These
estimates are based upon assumptions  about future demand for leased  containers
and the  estimated  sales  price  at the  end of the  container's  useful  life.
Effective  July 1, 2002,  the  Partnership  revised its estimate  for  container
salvage  value  from a  percentage  of  equipment  cost to an  estimated  dollar
residual value, reflecting current expectations of ultimate residual values. The
Partnership will evaluate the estimated residual values and remaining  estimated
useful lives on an on-going basis and will revise its estimates as needed.  As a
result,   depreciation   expense  may  fluctuate  in  future  periods  based  on
fluctuations in these estimates.  If the estimates  regarding residual value and
remaining  useful life of the containers were to decline,  depreciation  expense
would increase, adversely affecting the Partnership's operating results.

Additionally,  the  recoverability  of the recorded  amounts of containers to be
held for  continued  use and  identified  for  sale in the  ordinary  course  of
business are evaluated to ensure that  containers held for continued use are not
impaired and that containers identified for sale are recorded at amounts that do
not exceed the estimated fair value of the containers. Containers to be held for
continued  use are  considered  impaired and are written down to estimated  fair
value  when the  estimated  future  undiscounted  cash  flows  are less than the
recorded  values.  Containers  identified for sale are written down to estimated
fair  value when the  recorded  value  exceeds  the  estimated  fair  value.  In
determining  the  estimated  future  undiscounted  cash  flows and fair value of
containers,  assumptions are made regarding future demand and market  conditions
for leased containers and the sales prices for used containers. If actual market
conditions are less favorable than those projected or if actual sales prices are
lower than those  estimated by the  Partnership,  additional  write-downs may be
required  and/or losses may be realized.  Any  additional  write-downs or losses
would adversely affect the Partnership's operating results.
<PAGE>

Accounting Pronouncements

In April 2002,  the FASB issued SFAS No. 145,  "Rescission of FASB Statement No.
4, 44 and 64,  Amendment of FASB  Statement No. 13, and Technical  Corrections."
SFAS No. 145 rescinds FASB Statement No. 4, "Reporting  Gains and Losses of Debt
Extinguishments" and an amendment of that Statement, FASB Statement No. 64. SFAS
No. 145 also rescinds FASB Statement No. 44,  "Accounting for Intangible  Assets
of Motor Carriers." FASB 145 also amends FASB Statement No. 13,  "Accounting for
Leases",  to eliminate an  inconsistency  between the  required  accounting  for
sale-leaseback  transactions  and the  required  accounting  for  certain  lease
modifications that have economic effects similar to sale-leaseback transactions.
These rescissions and amendment are not anticipated to have a material impact on
the financial statements of the Partnership.

In June 2002, the FASB issued SFAS No. 146 "Accounting for Costs Associated With
Exit or Disposal  Activities".  SFAS No. 146 addresses financial  accounting and
reporting for costs  associated  with exit or disposal  activities and nullifies
Emerging  Issues Task Force (EITF)  Issue No. 94-3  "Liability  Recognition  for
Certain  Employee  Termination  Benefits  and  Other  Costs to Exit an  Activity
(including Certain Costs Incurred in a Restructuring)."  This Statement requires
that a liability  for a cost  associated  with an exit or  disposal  activity be
recognized when the liability is incurred.  The provisions of this Statement are
effective for exit or disposal  activities that are initiated after December 31,
2002, with early application  encouraged.  The Partnership  anticipates that the
adoption  of SFAS  No.  146 will not have a  material  impact  on its  financial
statements.

Risk Factors and Forward Looking Statements

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.

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, including bad debts,  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. See "Critical
Accounting  Policies and Estimates"  above for information on the  Partnership's
critical  accounting policies and how changes in those estimates could adversely
affect the Partnership's results of operations.

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  therefore,
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.

ITEM 7A.     QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

             Inapplicable.

ITEM 8.      FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

             Attached pages 15 to 28.

<PAGE>


                          Independent Auditors' Report
                          ----------------------------


The Partners
Textainer Equipment Income Fund V, L.P.:

We have audited the  accompanying  balance sheets of Textainer  Equipment Income
Fund V, L.P. (a  California  limited  partnership)  as of December  31, 2002 and
2001, the related statements of operations, partners' capital and cash flows for
each of the years in the  three-year  period  ended  December  31,  2002.  These
financial statements are the responsibility of the Partnership's management. Our
responsibility  is to express an opinion on these financial  statements based on
our audits.

We conducted our audits in accordance with auditing standards generally accepted
in the  United  States of  America.  Those  standards  require  that we plan and
perform the audit 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 Textainer Equipment Income Fund
V, L.P. as of December 31, 2002 and 2001, and the results of its operations, its
partners'  capital  and its cash  flows for each of the years in the  three-year
period  ended  December  31,  2002  in  conformity  with  accounting  principles
generally accepted in the United States of America.



                                  /s/ KPMG LLP



San Francisco, California
February 14, 2003


<PAGE>
<TABLE>
<CAPTION>

TEXTAINER EQUIPMENT INCOME FUND V, L.P.
(a California Limited Partnership)

Balance Sheets

December 31, 2002 and 2001
(Amounts in thousands)
-----------------------------------------------------------------------------------------------------------------

                                                                                2002                    2001
                                                                          ----------------        ---------------
<S>                                                                      <C>                     <C>
Assets
Container rental equipment, net of accumulated
   depreciation of $36,486 (2001:  $31,700) (note 1(e))                   $        43,043         $       48,576
Cash                                                                                  976                  1,038
Accounts receivable, net of allowance
   for doubtful accounts of $134 (2001:  $154)                                      2,271                  1,939
Due from affiliates, net (note 2)                                                     110                    156
Prepaid expenses                                                                       25                     12
                                                                          ----------------        ---------------

                                                                          $        46,425         $       51,721
                                                                          ================        ===============

Liabilities and Partners' Capital
Liabilities:
   Accounts payable                                                       $           227         $          506
   Accrued liabilities                                                                277                    172
   Accrued recovery costs (note 1(j))                                                 189                    222
   Accrued damage protection plan costs (note 1(k))                                   252                    203
   Deferred damage protection plan revenue (note 1(l))                                175                    183
   Deferred quarterly distributions (note 1(g))                                        57                     54
                                                                          ----------------        ---------------

         Total liabilities                                                          1,177                  1,340
                                                                          ----------------        ---------------

Partners' capital:
   General partners                                                                    24                     29
   Limited partners                                                                45,224                 50,352
                                                                          ----------------        ---------------

         Total partners' capital                                                   45,248                 50,381
                                                                          ----------------        ---------------


                                                                          $        46,425         $       51,721
                                                                          ================        ===============

See accompanying notes to financial statements
</TABLE>


<PAGE>
<TABLE>
<CAPTION>

TEXTAINER EQUIPMENT INCOME FUND V, L.P.
(a California Limited Partnership)

Statements of Operations

Years ended December 31, 2002, 2001 and 2000
(Amounts in thousands except for unit and per unit amounts)
-------------------------------------------------------------------------------------------------------------------------

                                                                      2002                2001                2000
                                                                -----------------   -----------------   -----------------
<S>                                                             <C>                <C>                 <C>
Rental income                                                   $          9,600    $         10,169    $         12,584
                                                                -----------------   -----------------   -----------------

Costs and expenses:
   Direct container expenses                                               3,270               3,700               2,868
   Bad debt expense (benefit)                                                 37                  (5)               (143)
   Depreciation (note 1(e))                                                5,210               4,793               4,738
   Professional fees                                                          57                  32                  64
   Management fees to affiliates (note 2)                                    834                 935               1,135
   General and administrative costs to affiliates (note 2)                   532                 536                 627
   Other general and administrative costs                                    198                 131                 102
   (Gain) loss on sale of containers (note 1(e))                             (12)                 10                  50
                                                                -----------------   -----------------   -----------------

                                                                          10,126              10,132               9,441
                                                                -----------------   -----------------   -----------------

       (Loss) income from operations                                        (526)                 37               3,143
                                                                -----------------   -----------------   -----------------

   Interest income                                                            14                  71                 135
                                                                -----------------   -----------------   -----------------

       Net (loss) earnings                                      $           (512)   $            108    $          3,278
                                                                =================   =================   =================

Allocation of net (loss) earnings (note 1(g)):
   General partners                                             $             41    $             52    $             63
   Limited partners                                                         (553)                 56               3,215
                                                                -----------------   -----------------   -----------------

                                                                $           (512)   $            108    $          3,278
                                                                =================   =================   =================


Limited partners' per unit share of net (loss) earnings         $          (0.12)   $           0.01    $           0.72
                                                                =================   =================   =================

Limited partners' per unit share of distributions               $           1.00    $           1.23    $           1.40
                                                                =================   =================   =================

Weighted average number of limited
       partnership units outstanding (note 1(m))                       4,441,722           4,452,143           4,454,893
                                                                =================   =================   =================


See accompanying notes to financial statements

</TABLE>


<PAGE>
<TABLE>
<CAPTION>
TEXTAINER EQUIPMENT INCOME FUND V, L.P.
(a California Limited Partnership)

Statements of Partners' Capital

Years ended December 31, 2002, 2001 and 2000
(Amounts in thousands)
-----------------------------------------------------------------------------------------------------------------------

                                                                                 Partners' Capital
                                                            -----------------------------------------------------------
                                                                 General              Limited               Total
                                                            -----------------    -----------------    -----------------
<S>                                                         <C>                 <C>                  <C>
Balances at December 31, 1999                               $             38     $         58,865     $         58,903

Distributions                                                            (66)              (6,237)              (6,303)

Net earnings                                                              63                3,215                3,278
                                                            -----------------    -----------------    -----------------

Balances at December 31, 2000                                             35               55,843               55,878
                                                            -----------------    -----------------    -----------------

Distributions                                                            (58)              (5,492)              (5,550)

Redemptions (note 1(n))                                                    -                  (55)                 (55)

Net earnings                                                              52                   56                  108
                                                            -----------------    -----------------    -----------------

Balances at December 31, 2001                                             29               50,352               50,381
                                                            -----------------    -----------------    -----------------

Distributions                                                            (46)              (4,443)              (4,489)

Redemptions (note 1(n))                                                    -                 (132)                (132)

Net (loss) earnings                                                       41                 (553)                (512)
                                                            -----------------    -----------------    -----------------

Balances at December 31, 2002                               $             24     $         45,224     $         45,248
                                                            =================    =================    =================

</TABLE>

See accompanying notes to financial statements


<PAGE>
<TABLE>
<CAPTION>

TEXTAINER EQUIPMENT INCOME FUND V, L.P.
(a California Limited Partnership)

Statements of Cash Flows

Years ended December 31, 2002, 2001 and 2000
(Amounts in thousands)
-----------------------------------------------------------------------------------------------------------------------------------

                                                                                      2002              2001              2000
                                                                                 ---------------  ---------------   ---------------
<S>                                                                               <C>             <C>                 <C>
Cash flows from operating activities:
   Net (loss) earnings                                                           $         (512)  $          108    $        3,278
   Adjustments to reconcile net (loss) earnings to net cash provided
     by operating activities:
         Depreciation (note 1(e))                                                         5,210            4,793             4,738
         Decrease in allowance for doubtful accounts                                        (20)             (51)             (276)
         (Gain) loss on sale of containers                                                  (12)              10                50
         Decrease (increase) in assets:
             Accounts receivable                                                           (254)             734               610
             Due from affiliates, net                                                        41              313                68
             Prepaid expenses                                                               (13)              (1)                2
         Increase (decrease) in liabilities:
             Accounts payable and accrued liabilities                                      (174)             (47)              188
             Accrued recovery costs                                                         (33)              26                24
             Deferred damage protection plan revenue                                         (8)             183                 -
             Accrued damage protection plan costs                                            49             (193)             (135)
                                                                                 ---------------  ---------------   ---------------
             Net cash provided by operating activities                                    4,274            5,875             8,547
                                                                                 ---------------  ---------------   ---------------

Cash flows from investing activities:
   Proceeds from sale of containers                                                         471              503               506
   Container purchases                                                                     (187)          (1,670)           (2,192)
                                                                                 ---------------  ---------------   ---------------
             Net cash provided by (used in) investing activities                            284           (1,167)           (1,686)
                                                                                 ---------------  ---------------   ---------------

Cash flows from financing activities:
   Redemptions of limited partnership units                                                (132)             (55)                -
   Distributions to partners                                                             (4,488)          (5,577)           (6,304)
                                                                                 ---------------  ---------------   ---------------
             Net cash used in financing activities                                       (4,620)          (5,632)           (6,304)
                                                                                 ---------------  ---------------   ---------------

Net (decrease) increase in cash                                                             (62)            (924)              557

Cash at beginning of period                                                               1,038            1,962             1,405
                                                                                 ---------------  ---------------   ---------------

Cash at end of period                                                            $          976   $        1,038    $        1,962
                                                                                 ===============  ===============   ===============


See accompanying notes to financial statements

</TABLE>


<PAGE>
<TABLE>
<CAPTION>

TEXTAINER EQUIPMENT INCOME FUND V, L.P.
(a California Limited Partnership)

Statements of Cash Flows - Continued

Years ended December 31, 2002, 2001 and 2000
(Amounts in thousands)
--------------------------------------------------------------------------------

Supplemental Disclosures:

Supplemental schedule of non-cash investing and financing activities:

The following table summarizes the amounts of container purchases, distributions
to partners  and  proceeds  from sale of  containers  which had not been paid or
received by the  Partnership  as of December 31,  2002,  2001,  2000,  and 1999,
resulting in  differences  in amounts  recorded and amounts of cash disbursed or
received by the Partnership, as shown in the Statements of Cash Flows.

                                                                      2002          2001          2000        1999
                                                                      ----          ----          ----        ----
<S>                                                                   <C>          <C>            <C>          <C>
Container purchases included in:
   Due to affiliates.....................................              $ -           $24          $  -         $ -
   Container purchases payable...........................                -             -           363           -

Distributions to partners included in:
   Due to affiliates.....................................                3             5             6           6
   Deferred quarterly distributions......................               57            54            80          81

Proceeds from sale of containers included in:
   Due from affiliates...................................               50            81           103          86

The following table summarizes the amounts of container purchases, 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
years ended December 31, 2002, 2001 and 2000.

                                                                                    2002          2001        2000
                                                                                    ----          ----        ----

Container purchases recorded.........................................             $  163        $1,331      $2,555
Container purchases paid.............................................                187         1,670       2,192

Distributions to partners declared...................................              4,489         5,550       6,303
Distributions to partners paid.......................................              4,488         5,577       6,304

Proceeds from sale of containers recorded............................                440           481         523
Proceeds from sale of containers received............................                471           503         506

The  Partnership  has  entered  into direct  finance  leases,  resulting  in the
transfer of containers from container rental  equipment to accounts  receivable.
The carrying  values of containers  transferred  during the years ended December
31, 2002, 2001 and 2000 were $58, $31 and $128, respectively.

</TABLE>

See accompanying notes to financial statements


<PAGE>

TEXTAINER EQUIPMENT INCOME FUND V, L.P.
(a California Limited Partnership)

Notes to Financial Statements

Years ended December 31, 2002, 2001 and 2000
(Amounts in thousands except for unit and per unit amounts)
--------------------------------------------------------------------------------


Note 1.  Summary of Significant Accounting Policies

     (a)  Nature of Operations

     Textainer  Equipment  Income Fund V, L.P.  (TEIF V or the  Partnership),  a
     California limited partnership, with a maximum life of 20 years, was formed
     on July 15, 1993. The  Partnership  was formed to engage in the business of
     owning,  leasing and  selling  both new and used  equipment  related to the
     international  containerized  cargo shipping industry,  including,  but not
     limited to,  containers,  trailers and other  container-related  equipment.
     TEIF V offered units representing limited partnership  interests (Units) to
     the public from May 1, 1994 until April 29, 1996, the close of the offering
     period,  when a total of 4,465,263  Units had been purchased for a total of
     $89,305.

     Textainer Capital  Corporation (TCC) is the managing general partner of the
     Partnership.  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.

     (b)  Basis of Accounting

     The  Partnership  utilizes  the accrual  method of  accounting.  Revenue is
     recorded  when  earned  according  to the  terms  of the  container  rental
     contracts.  These  contracts are  classified as operating  leases or direct
     finance  leases based on the criteria of Statement of Financial  Accounting
     Standards No. 13: "Accounting for Leases".

     (c)  Critical Accounting Policies and Estimates

     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. The Partnership's  management  evaluates its estimates on
     an  on-going  basis,  including  those  related  to  the  container  rental
     equipment, accounts receivable and accruals.

     These  estimates  are based on historical  experience  and on various other
     assumptions that are believed to be reasonable under the circumstances, the
     results of which form the basis for making judgments regarding the carrying
     values of assets and  liabilities.  Actual  results could differ from those
     estimates  under  different  assumptions or conditions.  The  Partnership's
     management  believes the following critical  accounting policies affect its
     more  significant  judgments and estimates  used in the  preparation of its
     financial statements.

     The Partnership  maintains  allowances for doubtful  accounts for estimated
     losses  resulting  from  the  inability  of its  lessees  to make  required
     payments.  These allowances are based on management's current assessment of
     the financial  condition of the Partnership's  lessees and their ability to
     make  their  required   payments.   If  the  financial   condition  of  the
     Partnership's  lessees were to  deteriorate,  resulting in an impairment of
     their ability to make payments,  additional allowances may be required. The
     Partnership  depreciates  its container  rental  equipment based on certain
     estimates related to the container's  useful life and salvage value.  These
     estimates  are based  upon  assumptions  about  future  demand  for  leased
     containers  and the  estimated  sales  price at the end of the  container's
     useful life. The  Partnership  will evaluate the estimated  residual values
     and remaining  estimated  useful lives on an on-going basis and will revise
     its estimates as needed. As a result, depreciation expense may fluctuate in
     future periods based on fluctuations in these estimates.

     Additionally,  the  recoverability of the recorded amounts of containers to
     be held for continued use and identified for sale in the ordinary course of
     business are evaluated to ensure that containers held for continued use are
     not  impaired  and that  containers  identified  for sale are  recorded  at
     amounts  that do not exceed  the  estimated  fair value of the  containers.
     Containers  to be held for continued  use are  considered  impaired and are
     written down to estimated fair value when the estimated future undiscounted
     cash flows are less than the recorded  values.  Containers  identified  for
     sale are  written  down to  estimated  fair value when the  recorded  value
     exceeds the estimated  fair value.  In  determining  the  estimated  future
     undiscounted cash flows and fair value of containers,  assumptions are made
     regarding future demand and market conditions for leased containers and the
     sales prices for used  containers.  If actual  market  conditions  are less
     favorable  than those  projected  or if actual  sales prices are lower than
     those estimated by the Partnership,  additional write-downs may be required
     and/or losses may be realized.

     (d)  Fair Value of Financial Instruments

     In accordance  with  Statement of Financial  Accounting  Standards No. 107,
     "Disclosures  about Fair Value of Financial  Instruments,"  the Partnership
     calculates  the fair  value of  financial  instruments  and  includes  this
     additional  information in the notes to the financial  statements  when the
     fair value is different than the book value of those financial instruments.
     At  December  31,  2002  and  2001,  the fair  value  of the  Partnership's
     financial  instruments (cash,  accounts receivable and current liabilities)
     approximates the related book value of such instruments.

     (e)  Container Rental Equipment

     Container rental equipment is recorded at the cost of the assets purchased,
     which includes  acquisition  fees, less accumulated  depreciation  charged.
     Through June 30, 2002,  depreciation  of new  containers was computed using
     the straight-line method over an estimated useful life of 12 years to a 28%
     salvage value.  Used containers were depreciated based upon their estimated
     remaining  useful  life at the date of  acquisition  (from 2 to 11  years).
     Effective July 1, 2002, the Partnership  revised its estimate for container
     salvage  value from a percentage of equipment  cost to an estimated  dollar
     residual  value,  reflecting  current  expectations  of  ultimate  residual
     values.  The effect of this change for the year ended December 31, 2002 was
     an increase to depreciation  expense of $418. The Partnership will evaluate
     the estimated  residual values and remaining  estimated  useful lives on an
     on-going  basis and will  revise  its  estimates  as  needed.  As a result,
     depreciation  expense may fluctuate in future periods based on fluctuations
     in these estimates.  When assets are retired or otherwise  disposed of, the
     cost and related  accumulated  depreciation  are removed from the equipment
     accounts and any  resulting  gain or loss is  recognized  in income for the
     period.

     In accordance  with  Statement of Financial  Accounting  Standards No. 144,
     "Accounting for the Impairment or Disposal of Long-Lived Assets (SFAS 144),
     the Partnership  periodically compares the carrying value of its containers
     to  expected   future  cash  flows  for  the  purpose  of   assessing   the
     recoverability  of the  recorded  amounts.  If the carrying  value  exceeds
     expected  future cash flows,  the assets are written down to estimated fair
     value. In addition,  containers identified for disposal are recorded at the
     lower of carrying amount or fair value less cost to sell.

     New container  prices  steadily  declined from 1995 through 1999.  Although
     container prices increased in 2000, these prices declined again in 2001 and
     have  remained  low during  2002.  As a result  the cost of new  containers
     purchased  in recent years is  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 for
     containers  to be  held  for  continued  use  as  well  as  for  containers
     identified  for sale in the  ordinary  course  of  business.  Based on this
     evaluation,  the  Partnership  determined  that  reductions to the carrying
     value of these containers were not required during the years ended December
     31, 2002, 2001 and 2000.

     The Partnership  will continue to evaluate the  recoverability  of recorded
     amounts of container  rental  equipment  and cautions  that a write-down of
     container  rental  equipment may be required in future  periods for some of
     its container rental equipment.

     (f)  Nature of Income from Operations

     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 that 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 rather
     than the  geographic  location  of the  containers  or the  domicile of the
     lessees.

     No single lessee  generated  lease revenue for the years ended December 31,
     2002,  2001,  and 2000  which was 10% or more of the total  revenue  of the
     Partnership.

     (g)  Allocation of Net Earnings (Loss) and Partnership Distributions

     In accordance with the Partnership  Agreement,  sections 3.08 through 3.12,
     net earnings or losses and distributions are generally  allocated 1% to the
     General  Partners and 99% to the Limited  Partners.  If the  allocation  of
     distributions  exceeds the allocation of net earnings and creates a deficit
     in a General Partner's 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.

     Actual cash distributions to the Limited Partners differ from the allocated
     net  earnings as  presented  in these  financial  statements  because  cash
     distributions   are  based  on  cash  available  for   distribution.   Cash
     distributions  are paid to the general  and  limited  partners on a monthly
     basis in accordance with the provisions of the Partnership Agreement.  Some
     limited partners have elected to have their  distributions  paid quarterly.
     The  Partnership  has  recorded  deferred  distributions  of $57 and $54 at
     December 31, 2002 and 2001, respectively.

     (h)  Income Taxes

     The Partnership is not subject to income taxes.  Accordingly,  no provision
     for income taxes has been made.  The  Partnership  files  federal and state
     information  returns  only.  Taxable  income or loss is  reportable  by the
     individual partners.

     (i)  Acquisition Fees

     In accordance with the Partnership Agreement,  acquisition fees equal to 5%
     of  the  container  purchase  price  were  paid  to  TEM.  These  fees  are
     capitalized as part of the cost of the containers.

     (j)  Recovery Costs

     The  Partnership  accrues an  estimate  for  recovery  costs as a result of
     defaults under its leases that it expects to incur,  which are in excess of
     estimated  insurance  proceeds.  At December 31, 2002 and 2001, the amounts
     accrued were $189 and $222, respectively.

     (k)  Damage Protection Plan

     The  Partnership  offers a Damage  Protection  Plan (DPP) to lessees of its
     containers.  Under  the  terms of DPP,  the  Partnership  earns  additional
     revenues on a daily basis and, in return, has agreed to bear certain repair
     costs. It is the Partnership's  policy to recognize revenue when earned and
     provide a reserve  sufficient to cover the  estimated  future repair costs.
     DPP expenses are included in direct container expenses in the Statements of
     Operations  and the related  reserve at December 31, 2002 and 2001 was $252
     and $203, respectively.

     (l)      Deferred Damage Protection Plan Revenue

     Under certain DPP coverage,  the  Partnership  receives a prepayment of the
     DPP revenue.  The Partnership  records these prepayments as Deferred Damage
     Protection  Plan Revenue.  At December 31, 2002 and 2001 these amounts were
     $175 and $183, respectively.

     (m) Limited  Partners'  Per  Unit  Share   of  Net   Earnings   (Loss)  and
         Distributions

     Limited   partners'  per  unit  share  of  both  net  earnings  (loss)  and
     distributions  were  computed  using the weighted  average  number of units
     outstanding which was 4,441,722, 4,452,143 and 4,454,893 during each of the
     years ended December 31, 2002, 2001 and 2000.

     (n) Redemptions

     The following  redemption  offerings were  consummated  by the  Partnership
     during the years ended December 31, 2002 and 2001:

<TABLE>
<CAPTION>


                                                          Units             Average
                                                        Redeemed       Redemption Price       Amount Paid
                                                        --------       ----------------       -----------
<S>                                                      <C>          <C>                        <C>
       Total Partnership redemptions as of
         December 31, 2000....................             8,451           $ 17.97               $ 152
                                                          ------                                   ---

       Year ended:
             December 31, 2001................             5,500           $ 10.09                  55
             December 31, 2002................            15,960           $  8.27                 132
                                                          ------                                   ---

       Total Partnership redemptions as of
         December 31, 2002....................            29,911           $ 11.33               $ 339
                                                          ======                                   ===
</TABLE>

     There were no  redemptions  during the year ended  December 31,  2000.  The
     redemption  price is fixed by formula in  accordance  with the  Partnership
     Agreement.

     (o) Reclassifications

     Certain  reclassifications not affecting net earnings (loss) have been made
     to prior year amounts in order to conform with the 2002 financial statement
     presentation.
<PAGE>

Note 2.  Transactions with Affiliates

     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 capitalized $8, $63 and $122
     of container  acquisition fees as a component of container costs during the
     years ended December 31, 2002, 2001 and 2000, respectively. The Partnership
     incurred $166,  $225, and $263 of incentive  management fees during each of
     the three years ended December 31, 2002, 2001 and 2000, respectively. There
     were no equipment liquidation fees incurred during these periods.

     The  Partnership's  containers  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
     December 31, 2002 and 2001.

     Subject to certain reductions,  TEM receives a monthly equipment management
     fee equal to 7% of gross lease revenues  attributable  to operating  leases
     and 2% of gross revenues  attributable  to full payout net leases.  For the
     years ended December 31, 2002,  2001 and 2000,  equipment  management  fees
     totaled $668, $710, and $872, respectively.

     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 TCC and  TEM.  Total  general  and
     administrative costs allocated to the Partnership were as follows:

                                                2002       2001       2000
                                                ----       ----       ----

            Salaries                            $336       $322       $325
            Other                                196        214        302
                                                 ---        ---        ---
              Total general and
                 administrative costs           $532       $536       $627
                                                 ===        ===        ===

     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.  TCC allocates these costs based on
     the ratio of the  Partnership's  containers to the total container fleet of
     all limited partnerships managed by TCC. The General Partners allocated the
     following general and administrative costs to the Partnership:

                                                2002       2001       2000
                                                ----       ----       ----

            TEM                                 $461       $469       $546
            TCC                                   71         67         81
                                                 ---        ---        ---
              Total general and
                 administrative costs           $532       $536       $627
                                                 ===        ===        ===

     The  General  Partners  may acquire  containers  in their own name and hold
     title on a temporary basis for the purpose of facilitating  the acquisition
     of such containers for the  Partnership.  The containers may then be resold
     to the  Partnership  on an  all-cash  basis at a price  equal to the actual
     cost, as defined in the Partnership Agreement. One or more General Partners
     may also arrange for the purchase of containers in its or their names,  and
     the  Partnership may then take title to the containers by paying the seller
     directly. In addition,  the General Partners are entitled to an acquisition
     fee  for  containers  acquired  by  the  Partnership  under  any  of  these
     arrangements.

      At December 31, 2002 and 2001, due from affiliates, net, is comprised of:

                                                            2002      2001
                                                            ----      ----
          Due from affiliates:
               Due from TEM.....................            $129      $179
                                                             ---       ---

          Due to affiliates:
               Due to TL........................               3         3
               Due to TCC.......................              16        20
                                                             ---       ---
                                                              19        23
                                                             ---       ---

          Due from affiliates, net                          $110      $156
                                                             ===       ===

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

Note 3.   Lease Rental Income (unaudited)

     Leasing income arises principally from the renting of containers to various
     international  shipping lines. Revenue is recorded when earned according to
     the terms of the container rental contracts.  These contracts are typically
     for  terms of five  years or less.  The  following  is the lease mix of the
     on-lease containers (in units) at December 31, 2002 and 2001:

                                                            2002       2001
                                                            ----       ----

              On-lease under master leases                13,268      9,262
              On-lease under long-term leases              7,442      5,141
                                                          ------     ------

              Total on-lease containers                   20,710     14,403
                                                          ======     ======

     Under  master  lease  agreements,  the lessee is not  committed  to lease a
     minimum number of containers from the Partnership during the lease term and
     may generally  return any portion or all the containers to the  Partnership
     at any time, subject to certain restrictions in the lease agreement.  Under
     long-term  lease  agreements,   containers  are  usually  leased  from  the
     Partnership  for periods of between  three to five  years.  Such leases are
     generally cancelable with a penalty at the end of each twelve-month period.
     Under direct  finance  leases,  the  containers are usually leased from the
     Partnership  for  the  remainder  of the  container's  useful  life  with a
     purchase option at the end of the lease term.

     The remaining containers are off-lease and are located primarily at a large
     number of storage depots.  At December 31, 2002 and 2001, the Partnership's
     off-lease containers were in the following locations:


                                                            2002       2001
                                                            ----       ----

               Americas                                    1,963      2,184
               Europe                                      1,292      1,738
               Asia                                          562      6,334
               Others                                        155        226
                                                           -----     ------

                  Total off-lease containers               3,972     10,482
                                                           =====     ======

Note 4.   Income Taxes

     During 2002,  2001 and 2000,  there were temporary  differences of $39,844,
     $43,924,  and  $43,108,  respectively,   between  the  financial  statement
     carrying value of certain assets and liabilities and the federal income tax
     basis of such  assets and  liabilities.  The  reconciliation  of net (loss)
     income for  financial  statement  purposes to net income (loss) for federal
     income tax purposes for the years ended  December 31, 2002,  2001, and 2000
     is as follows:
<TABLE>
<CAPTION>

                                                                               2002          2001          2000
                                                                               ----          ----          ----
<S>                                                                         <C>           <C>           <C>
      Net (loss) income per financial statements..................           $ (512)      $   108      $  3,278

      Decrease in provision for bad debt..........................              (20)          (51)         (276)
      Depreciation for federal income tax purposes less than
        (in  excess of) depreciation for financial statement
        purposes..................................................            3,579        (1,051)       (5,834)
      Gain on sale of fixed assets for federal income tax
        purposes in excess of gain/loss recognized for
        financial statement purposes..............................              472           479           564
      Increase (decrease) in damage protection plan reserve.......               49          (193)         (135)
                                                                             ------       --------     --------

      Net income (loss) for federal income tax purposes...........           $3,568       $  (708)     $ (2,403)
                                                                             ======       ========     ========


</TABLE>


<PAGE>
<TABLE>
<CAPTION>


TEXTAINER EQUIPMENT INCOME FUND V, L.P.
(a California Limited Partnership)

Selected Quarterly Financial Data
-------------------------------------------------------------------------------------------------------------------------

The following is a summary of selected quarterly financial data for the years ended
December 31, 2002, 2001 and 2000:

                                                                          (Amounts in thousands)
                                                                            2002 Quarters Ended
                                                        -----------------------------------------------------------------
                                                          Mar. 31          June 30           Sept. 30          Dec. 31
                                                        -----------------------------------------------------------------

<S>                                                       <C>              <C>               <C>              <C>
Rental income                                             $ 2,095          $ 2,127            $ 2,548          $ 2,830

(Loss) income from operations                             $  (360)         $  (455)           $   (97)         $   386

Net (loss) earnings                                       $  (356)         $  (450)           $   (94)         $   388

Limited partners' share of net (loss) earnings            $  (366)         $  (460)           $  (104)         $   377

Limited partners' share of distributions                  $ 1,112          $ 1,111            $ 1,111          $ 1,109

                                                                            2001 Quarters Ended
                                                        -----------------------------------------------------------------
                                                          Mar. 31          June 30           Sept. 30          Dec. 31
                                                        -----------------------------------------------------------------

Rental income                                             $ 2,834          $ 2,504            $ 2,545          $ 2,286

Income (loss) from operations                             $   221          $   (85)           $   (31)         $   (68)

Net earnings (loss)                                       $   249          $   (63)           $   (17)         $   (61)

Limited partners' share of net earnings (loss)            $   234          $   (78)           $   (28)         $   (72)

Limited partners' share of distributions                  $ 1,559          $ 1,559            $ 1,262          $ 1,112

                                                                            2000 Quarters Ended
                                                        -----------------------------------------------------------------
                                                          Mar. 31          June 30           Sept. 30          Dec. 31
                                                        -----------------------------------------------------------------

Rental income                                             $ 3,143          $ 3,199            $ 3,079          $ 3,163

Income from operations                                    $   688          $   930            $   783          $   742

Net earnings                                              $   714          $   966            $   821          $   777

Limited partners' share of net earnings                   $   700          $   949            $   805          $   761

Limited partners' share of distributions                  $ 1,559          $ 1,559            $ 1,560          $ 1,559

</TABLE>

<PAGE>



ITEM 9.      CHANGES  IN AND  DISAGREEMENTS WITH ACCOUNTANTS  ON  ACCOUNTING AND
             FINANCIAL DISCLOSURE.

There have been none.
                                    PART III

ITEM 10.     DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

The Registrant has no officers or directors.

As described in the Prospectus, the Registrant's three general partners are TCC,
TEM and TL. TCC is the Managing  General  Partner of the Partnership and TEM and
TL are Associate  General  Partners.  The Managing General Partner and Associate
General Partners are collectively referred to as the General Partners.  TCC, TEM
and TL are wholly-owned  subsidiaries of Textainer Group Holdings Limited (TGH).
The General Partners act in this capacity for other limited partnerships.

TCC,  as  the  Managing  General  Partner,   is  responsible  for  managing  the
administration  and operation of the  Registrant,  and for the  formulation  and
administration of investment policies.

TEM, an Associate  General Partner,  manages all aspects of the operation of the
Registrant's equipment.

TL, an Associate  General Partner,  owns a fleet of container rental  equipment,
which is  managed  by TEM.  TL  provides  advice  to the  Partnership  regarding
negotiations  with financial  institutions,  manufacturers and equipment owners,
and regarding the terms upon which particular items of equipment are acquired.

Section 16(a) Beneficial Ownership Reporting Compliance.
_______________________________________________________

Section 16(a) of the Securities  Exchange Act of 1934 requires the Partnership's
General Partners,  policy-making officials and persons who beneficially own more
than ten  percent  of the Units to file  reports  of  ownership  and  changes in
ownership with the Securities and Exchange  Commission.  Copies of these reports
must also be furnished to the Partnership.

Based  solely  on a  review  of  the  copies  of  such  forms  furnished  to the
Partnership  or on written  representations  that no forms were  required  to be
filed, the Partnership believes that with respect to its most recent fiscal year
ended  December 31, 2002,  all Section 16(a) filing  requirements  were complied
with. No member of management, or beneficial owner owned more than 10 percent of
any  interest in the  Partnership.  None of the  individuals  subject to Section
16(a) failed to file or filed late any reports of transactions in the Units.

<PAGE>

<TABLE>
<CAPTION>

The directors and executive officers of the General Partners are as follows:

Name                             Age     Position
----                             ---     --------
<S>                              <C>    <C>
Neil I. Jowell                   69      Director and Chairman of TGH, TEM, TL, TCC and TFS
John A. Maccarone                58      President, CEO and Director of TGH, TEM, TL, TCC and TFS
James E. Hoelter                 63      Director of TGH, TCC and TFS
Philip K. Brewer                 46      Senior Vice President - Asset Management Group and Director of TL
Robert D. Pedersen               43      Senior Vice President - Leasing Group, Director of TEM
Ernest J. Furtado                47      Senior Vice  President,  CFO and  Secretary  of TGH,  TEM,  TL, TCC and TFS,
                                         Director of TL, TCC and TFS
Gregory W. Coan                  39      Vice President and Chief Information Officer of TEM
Wolfgang Geyer                   49      Regional Vice President - Europe
Mak Wing Sing                    45      Regional Vice President - South Asia
Masanori Sagara                  47      Regional Vice President - North Asia
Stefan Mackula                   50      Vice President -  Equipment Resale
Anthony C. Sowry                 50      Vice President - Corporate Operations and Acquisitions
Richard G. Murphy                50      Vice President - Risk Management
Janet S. Ruggero                 54      Vice President - Administration and Marketing Services
Jens W. Palludan                 52      Regional Vice President - Americas and Logistics
Isam K. Kabbani                  68      Director of TGH
James A. C. Owens                63      Director of TGH, TEM and TL
S. Arthur Morris                 69      Director of TGH, TEM and TL
Dudley R. Cottingham             51      Assistant Secretary, Vice President and Director of TGH, TEM and TL
Cecil Jowell                     67      Director of TGH, TEM and TL
Henrick van der Merwe            55      Director of TGH, TEM and TL
James E.  McQueen                58      Director of TGH, TEM and TL
Harold J. Samson                 81      Director of TCC and TFS
Nadine Forsman                   35      Controller of TCC and TFS
</TABLE>

Unless otherwise noted, all directors have served as directors of the General
Partners since at least 1993.

     Neil I. Jowell is Director and Chairman of TGH,  TEM, TL, TCC and TFS and a
member  of  the  Investment   Advisory   Committee  and  Audit   Committee  (see
"Committees"  below). Mr. Jowell became Director and Chairman of TEM in 1994. He
has served on the Board of Trencor  Ltd.  (Trencor)  since 1966 and as  Chairman
since 1973. He is also a Director of Mobile  Industries  Ltd.  (Mobile) (1969 to
present),  which is the major shareholder in Trencor,  a publicly traded company
listed on the JSE Securities  Exchange South Africa.  Trencor's core business is
the owning,  financing,  leasing and  managing of marine  cargo  containers  and
returnable  packaging units  worldwide,  finance  related  activities and supply
chain  management  services.  Other  interests are the manufacture and export of
tank containers for international markets and road trailer manufacturing.  He is
also a Director of a number of Mobile and  Trencor's  subsidiaries.  Mr.  Jowell
became  affiliated  with the General  Partners and its  affiliates  when Trencor
became,  through its beneficial ownership in two controlled  companies,  a major
shareholder  of TGH in 1992.  Mr.  Jowell has over 40 years'  experience  in the
transportation  industry. He holds an M.B.A. degree from Columbia University and
Bachelor of Commerce and Ll.B.  degrees from the  University  of Cape Town.  Mr.
Neil I. Jowell and Mr. Cecil Jowell are brothers.

     John A.  Maccarone is President,  CEO and Director of TGH, TEM, TL, TCC and
TFS. Mr. Maccarone became  President,  CEO of TGH, TL, TCC and TFS in 1998 and a
director of TEM in 1994. In this capacity,  he is responsible for overseeing the
management of and coordinating the activities of Textainer's  worldwide fleet of
marine  cargo   containers   and  the  activities  of  TGH,  TL,  TCC  and  TFS.
Additionally,  he is Chairman of the Equipment Investment Committee,  the Credit
Committee and the Investment  Advisory Committee (see "Committees",  below). Mr.
Maccarone was instrumental in co-founding Intermodal Equipment Associates (IEA),
a marine container leasing company based in San Francisco, and held a variety of
executive  positions with IEA from 1979 until 1987, when he joined the Textainer
Group.  Mr.  Maccarone  was  previously a Director of Marketing  for Trans Ocean
Leasing  Corporation in Hong Kong with responsibility for all leasing activities
in  Southeast  Asia.   From  1969  to  1977,  Mr.   Maccarone  was  a  marketing
representative  for IBM  Corporation.  He holds a Bachelor of Science  degree in
Engineering  Management  from  Boston  University  and  an  M.B.A.  from  Loyola
University of Chicago.

     James E. Hoelter is a director of TGH, TCC and TFS.  Mr.  Hoelter  became a
director of TEM in 1994. In addition,  Mr.  Hoelter is a member of the Equipment
Investment Committee,  the Investment Advisory Committee and the Audit Committee
(see  "Committees",  below).  Mr. Hoelter was the President and Chief  Executive
Officer of TGH and TL from 1993 to 1998 and was a  director  of TEM and TL until
March 2003. Mr. Hoelter serves as a consultant to Trencor (1999 to present). Mr.
Hoelter  became a  director  of  Trencor  in  December  2002 and he  serves as a
director of Trenstar Ltd., a Trencor  affiliate.  Prior to joining the Textainer
Group in 1987, Mr.  Hoelter was president of IEA. Mr. Hoelter  co-founded IEA in
1978 with Mr.  Maccarone and was president from inception  until 1987. From 1976
to 1978, Mr.  Hoelter was vice president for Trans Ocean Ltd., San Francisco,  a
marine container  leasing  company,  where he was responsible for North America.
From 1971 to 1976, he worked for Itel Corporation,  San Francisco,  where he was
director of financial leasing for the container  division.  Mr. Hoelter received
his B.B.A. in finance from the University of Wisconsin,  where he is an emeritus
member of its Business  School's Dean's Advisory Board, and his M.B.A.  from the
Harvard Graduate School of Business Administration.

     Philip K. Brewer is Senior Vice President - Asset  Management Group and has
been such since 1999.  Mr. Brewer has been a director of TL since 2000 and was a
director of TEM from August 2002 through March 2003. He was President of TCC and
TFS from  January 1, 1998 to December 31, 1998 until his  appointment  as Senior
Vice  President - Asset  Management  Group.  As President of TCC, Mr. Brewer was
responsible for overseeing the management of, and coordinating the activities of
TCC and TFS. As Senior Vice  President,  he is  responsible  for  optimizing the
capital  structure of and identifying  new sources of finance for Textainer,  as
well  as  overseeing  the  management  of and  coordinating  the  activities  of
Textainer's risk management, logistics and the resale divisions. Mr. Brewer is a
member of the Equipment  Investment  Committee,  the Credit  Committee and was a
member of the  Investment  Advisory  Committee  through  December  31, 1998 (see
"Committees"  below).  Prior to  joining  Textainer  in  1996,  as  Senior  Vice
President - Capital  Markets for TGH and TL, Mr.  Brewer worked at Bankers Trust
from 1990 to 1996,  starting as a Vice President in Corporate Finance and ending
as Managing  Director and Country  Manager for Indonesia;  from 1989 to 1990, he
was Vice President in Corporate  Finance at Jarding Fleming;  from 1987 to 1989,
he was Capital  Markets  Advisor to the United States  Agency for  International
Development;  and from  1984 to 1987 he was an  Associate  with  Drexel  Burnham
Lambert in New York.  Mr.  Brewer  holds an M.B.A.  in Finance from the Graduate
School of Business at Columbia University, and a B.A. in Economics and Political
Science from Colgate University.

     Robert D. Pedersen is Senior Vice-President - Leasing Group responsible for
worldwide sales and marketing related  activities and operations since 1999. Mr.
Pederson  has also served as a Director of TEM,  since 1997.  Mr.  Pedersen is a
member of the  Equipment  Investment  Committee  and the Credit  Committee  (see
"Committees"  below). He joined Textainer in 1991 as Regional Vice President for
the Americas  Region.  Mr.  Pedersen has  extensive  experience  in the industry
having  held a  variety  of  positions  with  Klinge  Cool,  a  manufacturer  of
refrigerated container cooling units (from 1989 to 1991), where he was worldwide
sales and marketing  director,  XTRA, a container lessor (from 1985 to 1988) and
Maersk Line, a container  shipping line (from 1978 to 1984).  Mr.  Pedersen is a
graduate of the A.P. Moller shipping and transportation program and the Merkonom
Business School in Copenhagen, majoring in Company Organization.

     Ernest J. Furtado is Senior Vice President,  CFO and Secretary of TGH, TEM,
TL, TCC and TFS and has been such since 1999.  Mr.  Furtado is a Director of TCC
and TFS,  and has served as such since 1997.  He was a director of TEM from 2002
through  March 2003 and became a director  of TL in March  2003.  As Senior Vice
President,  CFO and Secretary,  he is responsible for all accounting,  financial
management, and reporting functions for TGH, TEM, TL, TCC and TFS. Additionally,
he is a member  of the  Investment  Advisory  Committee  for  which he serves as
Secretary,  the Equipment  Investment  Committee and the Credit  Committee  (see
"Committees",  below). Prior to these positions,  he held a number of accounting
and financial management positions at Textainer,  of increasing  responsibility.
Prior to joining  Textainer in May 1991,  Mr.  Furtado was  Controller  for Itel
Instant  Space and  manager  of  accounting  for Itel  Containers  International
Corporation,  both in San Francisco,  from 1984 to 1991. Mr.  Furtado's  earlier
business  affiliations include serving as audit manager for Wells Fargo Bank and
as senior  accountant with John F. Forbes & Co., both in San Francisco.  He is a
Certified Public Accountant and holds a B.S. in business administration from the
University of California at Berkeley and an M.B.A.  in information  systems from
Golden Gate University.

     Gregory W. Coan is Vice President and Chief Information  Officer of TEM and
has served as such since 2001. In this capacity, Mr. Coan is responsible for the
worldwide  information  systems  of  Textainer.  He also  serves  on the  Credit
Committee (see "Committees",  below). Prior to these positions, Mr. Coan was the
Director of Communications  and Network Services from 1995 to 1999, where he was
responsible for Textainer's network and hardware infrastructure.  Mr. Coan holds
a Bachelor of Arts degree in political science from the University of California
at Berkeley  and an M.B.A.  with an emphasis in  telecommunications  from Golden
Gate University.

     Wolfgang Geyer is based in Hamburg,  Germany and is Regional Vice President
- Europe,  responsible for coordinating all leasing activities in Europe, Africa
and the Middle  East/Persian  Gulf and has served as such since 1997.  Mr. Geyer
joined Textainer in 1993 and was the Marketing  Director in Hamburg through July
1997.  From 1991 to 1993,  Mr. Geyer most recently was the Senior Vice President
for Clou Container  Leasing,  responsible for its worldwide leasing  activities.
Mr. Geyer spent the remainder of his leasing  career,  1975 through  1991,  with
Itel Container,  during which time he held numerous positions in both operations
and marketing within the company.

     Mak Wing Sing is based in Singapore  and is the Regional  Vice  President -
South Asia,  responsible  for  container  leasing  activities  in  North/Central
People's  Republic of China,  Hong Kong,  South China (PRC),  Southeast Asia and
Australia/New  Zealand and has served as such since 1996.  Mr. Mak most recently
was the Regional Manager,  Southeast Asia, for Trans Ocean Leasing, from 1994 to
1996.  From 1987 to 1994, Mr. Mak worked with Tiphook as their Regional  General
Manager,  and with  OOCL  from  1976 to 1987 in a  variety  of  positions,  most
recently as their Logistics Operations Manager.

     Masanori  Sagara  is based in  Yokohama,  Japan  and is the  Regional  Vice
President - North Asia,  responsible for container leasing  activities in Japan,
Korea, and Taiwan and has served as such since 1996. Mr. Sagara joined Textainer
in 1990 and was the company's  Marketing  Director in Japan  through 1996.  From
1987 to 1990, he was the Marketing Manager at IEA. Mr. Sagara's other experience
in the container leasing business includes marketing  management at Genstar from
1984 to 1987 and various container  operations positions with Thoresen & Company
from 1979 to 1984.  Mr.  Sagara holds a Bachelor of Science  degree in Economics
from Aoyama Bakuin University.

     Stefan  Mackula is Vice  President  -  Equipment  Resale,  responsible  for
coordinating  the worldwide  sale of equipment  into  secondary  markets and has
served as such since 1993. Mr. Mackula also served as Vice President - Marketing
from  1989 to  1991  where  he was  responsible  for  coordinating  all  leasing
activities in Europe,  Africa, and the Middle East. Mr. Mackula joined Textainer
in 1983 as Leasing Manager for the United Kingdom.  Prior to joining  Textainer,
Mr. Mackula held, beginning in 1972, a variety of positions in the international
container shipping industry.

     Anthony C. Sowry is Vice President - Corporate  Operations and Acquisitions
and has  served  as  such  since  1996.  He is also a  member  of the  Equipment
Investment  Committee and the Credit Committee (see  "Committees",  below).  Mr.
Sowry  supervises  all  international  container  operations,   maintenance  and
technical functions for the fleets under Textainer's management. In addition, he
is  responsible  for the  acquisition  of all new and  used  containers  for the
Textainer Group. He began his affiliation with Textainer in 1982, when he served
as Fleet Quality  Control  Manager for Textainer Inc.  until 1988.  From 1980 to
1982, he was operations manager for Trans Container Services in London; and from
1978 to 1982, he was a technical representative for Trans Ocean Leasing, also in
London.  He  received  his B.A.  degree in business  management  from the London
School of  Business.  Mr.  Sowry is a member of the  Technical  Committee of the
International   Institute  of  Container  Lessors  and  a  certified   container
inspector.

     Richard G. Murphy is Vice President - Risk Management,  responsible for all
credit and risk management  functions and has served as such since 1996. He also
supervises the administrative aspects of equipment acquisitions.  He is a member
of and acts as secretary to the Equipment  Investment and Credit Committees (see
"Committees",  below). He has held a number of positions at Textainer, including
Director of Credit and Risk  Management from 1989 to 1991 and as Controller from
1988 to 1989. Prior to the takeover of the management of the Interocean  Leasing
Ltd. fleet by TEM in 1988,  Mr. Murphy held various  positions in the accounting
and  financial  areas with that  company  from 1980,  acting as Chief  Financial
Officer from 1984 to 1988.  Prior to 1980, he held various  positions with firms
of public accountants in the U.K. Mr. Murphy is an Associate of the Institute of
Chartered  Accountants  in England  and Wales and holds a Bachelor  of  Commerce
degree from the National University of Ireland.

Janet S. Ruggero is Vice President - Administration  and Marketing  Services and
has served as such since 1993. Ms.  Ruggero is responsible  for the tracking and
billing of fleets under TEM  management,  including  direct  responsibility  for
ensuring that all data is input in an accurate and timely  fashion.  She assists
the marketing and operations  departments by providing  statistical  reports and
analyses and serves on the Credit Committee (see "Committees",  below). Prior to
joining  Textainer in 1986,  Ms.  Ruggero held various  positions with Gelco CTI
over the  course  of 15  years,  the  last  one as  Director  of  Marketing  and
Administration  for the North American Regional office in New York City. She has
a B.A. in education from Cumberland College.

Jens W.  Palludan is based in  Hackensack,  New Jersey and is the Regional  Vice
President - Americas and Logistics, responsible for container leasing activities
in North/South  America and for coordinating  container logistics and has served
as such since 2001.  He joined  Textainer in 1993 as Regional  Vice  President -
Americas/Africa/Australia,  responsible for coordinating all leasing  activities
in North and South America, Africa and Australia/New Zealand. Mr. Palludan spent
his career from 1969 through 1992 with Maersk Line of  Copenhagen,  Denmark in a
variety of key management positions in both Denmark and overseas. Mr. Palludan's
most  recent  position  at Maersk was that of  General  Manager,  Equipment  and
Terminals,  where he was responsible for the entire managed fleet.  Mr. Palludan
holds an M.B.A. from the Centre European D'Education Permanente,  Fontainebleau,
France.

     Sheikh  Isam K.  Kabbani  is a  director  of TGH and was a  director  of TL
through March 2003. He is Chairman and principal  stockholder  of the IKK Group,
Jeddah,  Saudi Arabia, a manufacturing and trading group which is active both in
Saudi Arabia and  internationally.  In 1959 Sheikh Isam Kabbani joined the Saudi
Arabian  Ministry  of  Foreign  Affairs,  and in 1960 moved to the  Ministry  of
Petroleum  for a period of ten years.  During  this time he was  seconded to the
Organization of Petroleum  Exporting  Countries (OPEC).  After a period as Chief
Economist of OPEC, in 1967 he became the Saudi Arabian member of OPEC's Board of
Governors.  In 1970 he left the  Ministry  of  Petroleum  to  establish  his own
business,  the  National  Marketing  Group,  which has since been his  principal
business activity.  Sheikh Kabbani holds a B.A. degree from Swarthmore  College,
Pennsylvania,  and an M.A. degree in Economics and International  Relations from
Columbia University.

     James A. C. Owens is a director of TGH and TL, and beginning in March 2003,
a director of TEM. Mr. Owens has been  associated with the Textainer Group since
1980.  In 1983 he was  appointed to the Board of Textainer  Inc.,  and served as
President  of Textainer  Inc.  from 1984 to 1987.  From 1987 to 1998,  Mr. Owens
served as an  alternate  director on the Boards of TI, TGH and TL and has served
as  director  of TGH and TL since  1998.  Apart  from his  association  with the
Textainer  Group,  Mr.  Owens  has been  involved  in  insurance  and  financial
brokerage companies and captive insurance companies.  He is a member of a number
of Boards of Directors.  Mr. Owens holds a Bachelor of Commerce  degree from the
University of South Africa.

     S. Arthur  Morris is a director  of TGH,  TEM and TL. Mr.  Morris  became a
director  of TEM in 1994.  He is a  founding  partner  in the firm of Morris and
Kempe,   Chartered   Accountants   (1962-1977)  and  currently  functions  as  a
correspondent  member of a number of international  accounting firms through his
firm Arthur Morris and Company (1977 to date). He is also President and director
of  Continental   Management  Limited  (1977  to  date)  and  Continental  Trust
Corporation Limited (1994 to date).  Continental Management Limited is a Bermuda
corporation  that  provides   corporate   representation,   administration   and
management  services  and  Continental  Trust  Corporation  Limited is a Bermuda
Corporation  that  provides   corporate  and  individual  trust   administration
services.  He has also  served as a director of Turks & Caicos  First  Insurance
Company  Limited since 1993.  Mr. Morris has over 30 years  experience in public
accounting and serves on numerous  business and charitable  organizations in the
Cayman Islands and Turks and Caicos Islands.

     Dudley R. Cottingham is Assistant Secretary,  Vice President and a director
of TGH,  TEM and TL. Mr.  Cottingham  became a director of TEM in 1994.  He is a
partner with Arthur Morris and Company  (1977 to date) and a Vice  President and
director of Continental  Management Limited (1978 to date) and Continental Trust
Corporation  Limited,  which are all in the Cayman  Islands and Turks and Caicos
Islands.  Continental  Management Limited is a Bermuda corporation that provides
corporate representation, administration and management services and Continental
Trust Corporation  Limited is a Bermuda  corporation that provides corporate and
individual trust  administration  services.  He has also served as a director of
Turks & Caicos First Insurance  Company  Limited since 1993. Mr.  Cottingham has
over 20 years experience in public accounting with  responsibility for a variety
of international and local clients.

     Cecil Jowell is a director of TGH, TEM and TL and has been such since March
2003.  Mr.  Jowell is also a Director  and  Chairman of Mobile  Industries  Ltd.
(Mobile), which is a public company, quoted on the JSE Securities Exchange South
Africa.  Mr.  Jowell has been a Director of Mobile since 1969 and was  appointed
Chairman in 1973.  It is the major  shareholder  in Trencor  Ltd.  (Trencor),  a
publicly  traded  company  listed on the JSE  Securities  Exchange South Africa.
Trencor's core business is the owning, financing, leasing and managing of marine
cargo  containers and returnable  packaging  units  worldwide,  finance  related
activities  and  supply  chain  management  services.  Other  interests  are the
manufacture  and export of tank  containers for  international  markets and road
trailer  manufacturing.  He is an Executive  Director of Trencor and has been an
executive  in that group for over 40 years.  Mr.  Jowell is also a Director of a
number of Mobile and Trencor's  subsidiaries as well as a Director of Scientific
Development and Integration (Pty) Ltd, a scientific research company. Mr. Jowell
was a  Director  and  Chairman  of WACO  International  Ltd.,  an  international
industrial  group listed on the JSE Securities  Exchange South Africa,  and with
subsidiaries  listed on the Sydney and London Stock  Exchanges from 1997 through
2000.  Mr.  Jowell  holds a Bachelor  of  Commerce  and Ll.B.  degrees  from the
University  of Cape Town and is a graduate of the  Institute of  Transport.  Mr.
Cecil Jowell and Mr. Neil I. Jowell are brothers.

     Hendrik R. van der Merwe is a Director of TGH, TEM and TL and has served as
such since  March  2003.  Mr.  van der Merwe is also an  Executive  Director  of
Trencor Ltd.  (Trencor) and has served as such since 1998. In this capacity,  he
is  responsible  for certain  operating  entities and  strategic  and  corporate
functions  within the Trencor group of companies.  Trencor is a publicly  traded
company listed on the JSE Securities Exchange South Africa. Its core business is
the owning,  financing,  leasing and  managing of marine  cargo  containers  and
returnable  packaging units  worldwide,  finance  related  activities and supply
chain  management  services.  Other  interests are the manufacture and export of
tank containers for international  markets and road trailer  manufacturing.  Mr.
van der Merwe is currently  also  Chairman of TrenStar,  Inc.,  based in Denver,
Colorado and a Director of various  companies  in the  TrenStar  group and other
companies in the wider Trencor  group and has been such since 2000.  Mr. van der
Merwe served as Deputy Chairman for Waco  International  Ltd., an  international
industrial  group listed on the JSE  Securities  Exchange  South Africa and with
subsidiaries  listed on the Sydney and London Stock Exchanges from 1991 to 1998,
where he served on the  Boards of those  companies.  From 1990 to 1991,  he held
various senior executive positions in the banking sector in South Africa, lastly
as Chief Executive Officer of Sendbank,  the  corporate/merchant  banking arm of
Bankorp  Group Ltd.  Prior to entering  the  business  world,  Mr. van der Merwe
practiced as an attorney at law in Johannesburg, South Africa. Mr. van der Merwe
holds a Bachelor of Arts and Ll.B.  degrees from the University of  Stellenbosch
and an Ll.M (Taxation) degree from the University of the Witwatersrand.

     James E. McQueen is a  Director  of TGH,  TEM and TL and has served as such
since March 2003. Mr. McQueen joined Trencor Ltd. (Trencor) in June 1976 and has
served on the Board of the  company as  Financial  Director  (CFO)  since  1996.
Trencor is a publicly traded company listed on the JSE Securities Exchange South
Africa.  Its core  business is the owning,  financing,  leasing and  managing of
marine cargo  containers  and  returnable  packaging  units  worldwide,  finance
related activities and supply chain management services. Other interests are the
manufacture  and export of road tank  containers for  international  markets and
trailer  manufacturing.  Mr. McQueen is also a Director of a number of Trencor's
subsidiaries. Prior to joining Trencor,  Mr. McQueen was an accountant in public
practice.  He holds a Bachelor of Commerce  degree from the  University  of Cape
Town and is a Chartered Accountant (South Africa).

     Harold J. Samson is a director of TCC and TFS since 2003 and is a member of
the Investment  Advisory  Committee and the Audit  Committee  (see  Committees",
below).  Through  December 31, 2002, he was a director of TGH and TL. Mr. Samson
served as a consultant to various  securities firms from 1981 to 1989. From 1974
to 1981 he was Executive Vice  President of Foster & Marshall,  Inc., a New York
Stock  Exchange  member firm based in Seattle.  Mr. Samson was a director of IEA
from 1979 to 1981.  From 1957 to 1984 he served as Chief  Financial  Officer  in
several  New York Stock  Exchange  member  firms.  Mr.  Samson  holds a B.S.  in
Business  Administration  from the University of  California,  Berkeley and is a
California Certified Public Accountant.

     Nadine  Forsman  is the  Controller  of TCC and TFS and has  served as such
since 1996.  Additionally,  she is a member of the Investment Advisory Committee
and Equipment  Investment  Committee (See "Committees"  below). As controller of
TCC and  TFS,  she is  responsible  for  accounting,  financial  management  and
reporting  functions  for TCC and TFS as well as overseeing  all  communications
with the Limited Partners and as such,  supervises personnel in performing these
functions.  Prior to joining  Textainer in August 1996, Ms. Forsman was employed
by KPMG LLP,  holding various  positions,  the most recent of which was manager,
from 1990 to 1996. Ms. Forsman is a Certified Public Accountant and holds a B.S.
in Accounting and Finance from San Francisco State University.

Committees

     The Managing General Partner has established the following three committees
to  facilitate   decisions   involving   credit  and   organizational   matters,
negotiations,  documentation,  management and final disposition of equipment for
the Partnership and for other programs organized by the Textainer Group:

     Equipment Investment Committee.  The Equipment Investment Committee reviews
the  equipment  leasing  operations of the  Partnership  on a regular basis with
emphasis on matters involving equipment purchases, equipment remarketing issues,
and decisions  regarding ultimate  disposition of equipment.  The members of the
committee are John A. Maccarone (Chairman),  James E. Hoelter, Anthony C. Sowry,
Richard G. Murphy (Secretary),  Philip K. Brewer, Robert D. Pedersen,  Ernest J.
Furtado and Nadine Forsman.

     Credit Committee.  The Credit Committee establishes credit limits for every
lessee and potential lessee of equipment and periodically  reviews these limits.
In setting such limits, the Credit Committee  considers such factors as customer
trade routes,  country,  political risk, operational history, credit references,
credit agency analyses, financial statements, and other information. The members
of the Credit  Committee  are John A.  Maccarone  (Chairman),  Richard G. Murphy
(Secretary),  Janet S. Ruggero,  Anthony C. Sowry,  Philip K. Brewer,  Ernest J.
Furtado, Robert D. Pedersen and Gregory W. Coan.

     Investment  Advisory  Committee.  The Investment Advisory Committee reviews
investor program operations on at least a quarterly basis,  emphasizing  matters
related to cash  distributions  to investors,  cash flow  management,  portfolio
management, and liquidation. The Investment Advisory Committee is organized with
a  view  to  applying  an  interdisciplinary  approach,   involving  management,
financial,  legal and marketing  expertise,  to the analysis of investor program
operations.  The  members  of the  Investment  Advisory  Committee  are  John A.
Maccarone (Chairman),  James E. Hoelter,  Ernest J. Furtado (Secretary),  Nadine
Forsman, Harold J. Samson and Neil I. Jowell.

     Additionally,  the  Managing  General  Partner  has  established  an  audit
committee to oversee the accounting and financial reporting processes and audits
of the financial  statements of the  Partnership  as well as other  partnerships
managed by the General Partner.  The members of the audit committee are James E.
Hoelter, Neil I. Jowell and Harold J. Samson.

ITEM 11.     EXECUTIVE COMPENSATION

The Registrant  has no executive  officers and does not reimburse TCC, TEM or TL
for the  remuneration  payable  to their  executive  officers.  For  information
regarding  reimbursements  made by the Registrant to the General  Partners,  see
note 2 of the Financial Statements in Item 8. See also Item 13(a) below.

ITEM 12.     SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

(a)      Security Ownership of Certain Beneficial Owners

         There is no person or "Group" who is known to the Registrant to be the
         beneficial owner of more than five percent of the outstanding units of
         limited partnership interest in the Registrant.

 (b)     Security Ownership of Management

         As of January 1, 2003:
<TABLE>
<CAPTION>
                                                                    Number
                     Name of Beneficial Owner                      Of Units       % All Units
                     -----------------------                       -------        -----------
<S>                  <C>                                            <C>            <C>
                     Ernest J. Furtado......................           600           0.0135%
                     James E. Hoelter.......................         1,370           0.0309%
                                                                     -----           -------

                     Directors, Officers and Management
                        as a Group..........................         1,970           0.0444%
                                                                     =====           =======
</TABLE>

(c)      Changes in control.

         Inapplicable.

PART 201 (d)   Securities under Equity Compensation Plans.

         Inapplicable.

ITEM 13.     CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

                             (Amounts in thousands)

(a)      Transactions with Management and Others.

         At December 31, 2002 and 2001, due from affiliates, net, is comprised
         of:

                                                          2002             2001
                                                          ----             ----
                Due from affiliates:
                   Due from TEM...................        $129             $179
                                                           ---              ---

                Due to affiliates:
                   Due to TL......................           3                3
                   Due to TCC.....................          16               20
                                                           ---              ---
                                                            19               23
                                                           ---              ---

                Due from affiliates, net                  $110             $156
                                                           ===              ===

         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,   fees and distributions and in the accrual and
         remittance of net rental  revenues  and container  sales  proceeds from
         TEM.

         In addition,  the Registrant  paid or will pay the following amounts to
         the General Partners:

         Acquisition  fees  in connection  with the  purchase  of containers  on
         behalf of the Registrant:

                                                 2002        2001      2000
                                                 ----        ----      ----

                  TEM............                  $8         $63      $122
                                                    =          ==       ===


         Management fees in connection with the operations of the Registrant:

                                                 2002        2001      2000
                                                 ----        ----      ----

                  TEM............                $834        $935    $1,135
                                                  ===         ===     =====

         Reimbursement   for   administrative   costs  in  connection  with  the
         operations of the Registrant:

                                                 2002        2001      2000
                                                 ----        ----      ----

                  TEM............                $461        $469      $546
                  TCC............                  71          67        81
                                                  ---         ---       ---

                  Total..........                $532        $536      $627
                                                  ===         ===       ===

         The General Partners may acquire containers  in their own name and hold
         title  on a  temporary  basis  for the   purpose  of  facilitating  the
         acquisition of such containers for the  Partnership. The containers may
         then be  resold to the  Partnership   on an  all-cash  basis at a price
         equal to the actual cost, as defined  in the Partnership Agreement. One
         or  more  General  Partners  may   also  arrange  for the  purchase  of
         containers in its or their names,   and the  Partnership  may then take
         title to the  containers by paying  the seller  directly.  In addition,
         the General Partners are entitled  to an acquisition fee for containers
         acquired by the Partnership under any of these arrangements.

(b)      Certain Business Relationships.

         Inapplicable.
<PAGE>

(c)      Indebtedness of Management

         Inapplicable.

(d)      Transactions with Promoters

         Inapplicable.

See the "Management"  and  "Compensation of the General Partners and Affiliates"
sections of the Registrant's Prospectus,  as supplemented,  and the Notes to the
Financial Statements in Item 8.

ITEM 14.  CONTROLS AND PROCEDURES

Based on an evaluation of the Partnership's  disclosure  controls and procedures
(as defined in Rules 13a-14 and 15d-14 of the  Securities  Exchange Act of 1934)
conducted  within  ninety days of the filing date of this  report,  the managing
general partner's  principal  executive officer and principal  financial officer
have found those  controls and  procedures to be  effective.  There have been no
significant  changes in the Partnership's  internal controls or in other factors
that could  significantly  affect these controls subsequent to the date of their
evaluation   including  any  corrective   actions  with  regard  to  significant
deficiencies and material weaknesses.



                                     PART IV

ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K

(a)      1.      Audited  financial  statements of  the  Registrant for the year
                 ended December 31, 2002 are contained in Item 8 of this Report.

         2.      Financial Statement Schedules.

                 (i)     Independent Auditors' Report on Supplementary Schedule.

                 (ii)    Schedule II - Valuation and Qualifying Accounts.

         3.      Exhibits

                 Exhibits  99.1  and 99.2  Certifications  pursuant to 18 U.S.C.
                 Section 1350, as  adopted  and regarding  Section  906  of  the
                 Sarbanes-Oxley Act of 2002.

                 Exhibits Incorporated by reference

                 (i)     The    Registrant's   Prospectus    as   contained   in
                         Pre-Effective   Amendment  No. 3 to   the  Registrant's
                         Registration Statement  (No. 33-71944),  as  filed with
                         the  Commission   on April 8, 1994, as  supplemented by
                         Post Effective  Amendment No. 2 as  filed under Section
                         8(c) of the  Securities Act of 1933 on  May 5, 1996 and
                         Supplement  No. 5  as  filed  under  Rule 424(b) of the
                         Securities Act of 1933 on March 18, 1996.

                 (ii)    The   Registrant's   limited   partnership   agreement,
                         Exhibit A to the Prospectus.

(b)              During the year ended 2002, no reports  on  Form  8-K have been
                 filed by the Registrant.




<PAGE>
             Independent Auditors' Report on Supplementary Schedule
             ------------------------------------------------------


The Partners
Textainer Equipment Income Fund V, L.P.:

Under the date of February  14,  2003,  we  reported  on the  balance  sheets of
Textainer  Equipment  Income Fund V, L.P. (the  Partnership)  as of December 31,
2002 and 2001, and the related  statements of operations,  partners' capital and
cash flows for each of the years in the  three-year  period  ended  December 31,
2002,  which are included in the 2002 annual  report on Form 10-K. In connection
with our audit of the aforementioned  financial statements,  we also audited the
related  financial  statement  schedule  as  listed in Item 15.  This  financial
statement  schedule is the responsibility of the Partnership's  management.  Our
responsibility  is to express an opinion on this  financial  statement  schedule
based on our audits.

In our  opinion,  such  schedule,  when  considered  in  relation  to the  basic
financial  statements  taken  as a  whole,  presents  fairly,  in  all  material
respects, the information set forth therein.



                                  /s/ KPMG LLP



San Francisco, California
February 14, 2003


<PAGE>
<TABLE>
<CAPTION>

TEXTAINER EQUIPMENT INCOME FUND V, L.P.
(a California Limited Partnership)

Schedule II - Valuation and Qualifying Accounts

(Amounts in thousands)
--------------------------------------------------------------------------------------------------------------

                                                                      Charged                          Balance
                                                     Balance at       to Costs                         at End
                                                     Beginning          and                              of
                                                     of Period        Expenses       Deduction         Period
                                                     ----------       --------       ----------        -------
<S>                                                     <C>              <C>             <C>             <C>
For the year ended December 31, 2002:

Allowance for
  doubtful accounts                                      $ 154           $  37            $( 57)         $ 134
                                                           ---            ----             ----            ---

Accrued recovery costs                                   $ 222           $  96            $(129)         $ 189
                                                           ---            ----             ----            ---

Accrued damage protection
  plan costs                                             $ 203           $ 222            $(173)         $ 252
                                                           ---            ----             ----            ---

For the year ended December 31, 2001:

Allowance for
  doubtful accounts                                      $ 205           $  (5)           $ (46)         $ 154
                                                           ---            ----             ----            ---

Accrued recovery costs                                   $ 196           $  87            $ (61)         $ 222
                                                           ---            ----             ----            ---

Accrued damage protection
  plan costs                                             $ 396           $ 217            $(410)         $ 203
                                                           ---            ----             ----            ---

For the year ended December 31, 2000:

Allowance for
  doubtful accounts                                      $ 481           $(143)           $(133)         $ 205
                                                           ---            ----             ----            ---

Accrued recovery costs                                   $ 172           $ 101            $ (77)         $ 196
                                                           ---            ----             ----            ---

Accrued damage protection
  plan costs                                             $ 531           $ 257            $(392)         $ 396
                                                           ---            ----             ----            ---

</TABLE>


<PAGE>
<TABLE>
<CAPTION>


                                   SIGNATURES


Pursuant to the  requirements of Section 13 or 15(d) 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.

                     TEXTAINER EQUIPMENT INCOME FUND V, L.P.
                     A California Limited Partnership

                     By Textainer Capital Corporation
                     The Managing General Partner

                     By___________________________________________
                       Ernest J. Furtado
                       Chief Financial Officer


Date:  March 26, 2003

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  Capital
Corporation,  the Managing General Partner of the Registrant,  in the capacities
and on the dates indicated:

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




_____________________________________                 Chief Financial Officer, Senior          March 26, 2003
Ernest J. Furtado                                     Vice President, Secretary and
                                                      Director (Chief Financial and
                                                      Principal Accounting Officer)





_____________________________________                 President and Director                   March 26, 2003
John A. Maccarone




_____________________________________                 Chairman of the Board and Director       March 26, 2003
Neil I. Jowell

</TABLE>

<PAGE>
<TABLE>
<CAPTION>


                                   SIGNATURES


Pursuant to the  requirements of Section 13 or 15(d) 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.

                 TEXTAINER EQUIPMENT INCOME FUND V, L.P.
                 A California Limited Partnership


                 By Textainer Capital Corporation
                 The Managing General Partner

                 By /s/Ernest J. Furtado
                    ______________________________________
                    Ernest J. Furtado
                    Chief Financial Officer

Date: March 26, 2003

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  Capital
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
_____________________________________                 Chief Financial Officer, Senior              March 26, 2003
Ernest J. Furtado                                     Vice President, Secretary and
                                                      Director (Chief Financial and
                                                      Principal Accounting Officer)



/s/John A. Maccarone
_____________________________________                 President and Director                       March 26, 2003
John A. Maccarone




/s/Neil I. Jowell
_____________________________________                 Chairman of the Board and Director           March 26, 2003
Neil I. Jowell

</TABLE>

<PAGE>


CERTIFICATIONS

I, John A. Maccarone, certify that:

1.    I  have  reviewed  this annual  report on Form 10-K of Textainer Equipment
      Income Fund V, L.P.;

2.    Based  on my  knowledge, this annual  report  does  not contain any untrue
      statement of a material fact or omit to state a material fact necessary to
      make the statements made, in  light of  the circumstances under which such
      statements were made, not misleading with respect to the period covered by
      this annual report;

3.    Based  on  my  knowledge, the financial statements,  and  other  financial
      information included in this annual report, fairly present in all material
      respects the financial condition, results of operations and cash  flows of
      the  registrant  as  of,  and  for, the  periods  presented in this annual
      report;

4.    The  registrant's  other certifying  officers  and I  are  responsible for
      establishing  and  maintaining  disclosure  controls  and  procedures  (as
      defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we
      have:

      a.)      designed such disclosure controls  and  procedures to ensure that
               material  information  relating to the registrant,  including its
               consolidated  subsidiaries,  is made known to us by others within
               those  entities,  particularly  during  the  period in which this
               annual report is being prepared;

      b.)      evaluated   the  effectiveness  of  the  registrant's  disclosure
               controls and  procedures as of a date within 90 days prior to the
               filing date of this annual report ( the "Evaluation Date"); and

      c.)      presented  in  this  annual  report  our  conclusion s about  the
               effectiveness of the disclosure  controls and procedures based on
               our evaluation as of the Evaluation Date;

5.    The registrant's other  certifying  officers  and I have disclosed,  based
      on our most recent evaluation,  to the registrant's auditors and the audit
      committee of  registrant's board of directors (or persons  performing  the
      equivalent function):

      a.)      all significant  deficiencies  in  the  design  or  operation  of
               internal  controls which could adversely  affect the registrant's
               ability to record,  process,  summarize and report financial data
               and have  identified for the  registrant's  auditors any material
               weaknesses in internal controls ; and

      b.)      any fraud, whether  or not  material, that involves management or
               other employees who have a significant  role in the  registrant's
               internal controls; and

6.    The registrant's other certifying  officers  and I have indicated  in this
      annual report whether there were significant changes in internal  controls
      or in other  factors  that could  significantly  affect internal  controls
      subsequent  to the  date  of our  most  recent  evaluation, including  any
      corrective  actions with regard to  significant  deficiencies and material
      weaknesses.


March 26, 2003

                                    /s/ John A. Maccarone
                                    ____________________________________________
                                    John A. Maccarone
                                    President and Director of TCC



<PAGE>


CERTIFICATIONS

I, Ernest J. Furtado, certify that:

1.    I  have  reviewed  this annual  report on Form 10-K of Textainer Equipment
      Income Fund V, L.P.;

2.    Based  on my  knowledge, this annual  report  does  not contain any untrue
      statement of a material fact or omit to state a material fact necessary to
      make the statements made, in  light of  the circumstances under which such
      statements were made, not misleading with respect to the period covered by
      this annual report;

3.    Based  on  my  knowledge, the financial statements,  and  other  financial
      information included in this annual report, fairly present in all material
      respects the financial condition, results of operations and cash  flows of
      the  registrant  as  of,  and  for, the  periods  presented in this annual
      report;

4.    The  registrant's  other certifying  officers  and I  are  responsible for
      establishing  and  maintaining  disclosure  controls  and  procedures  (as
      defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we
      have:

      a.)      designed such disclosure controls  and  procedures to ensure that
               material  information  relating to the registrant,  including its
               consolidated  subsidiaries,  is made known to us by others within
               those  entities,  particularly  during  the  period in which this
               annual report is being prepared;

      b.)      evaluated   the  effectiveness  of  the  registrant's  disclosure
               controls and  procedures as of a date within 90 days prior to the
               filing date of this annual report ( the "Evaluation Date"); and

      c.)      presented  in  this  annual  report  our  conclusion s about  the
               effectiveness of the disclosure  controls and procedures based on
               our evaluation as of the Evaluation Date;

5.    The registrant's other  certifying  officers  and I have disclosed,  based
      on our most recent evaluation,  to the registrant's auditors and the audit
      committee of  registrant's board of directors (or persons  performing  the
      equivalent function):

      a.)      all significant  deficiencies  in  the  design  or  operation  of
               internal  controls which could adversely  affect the registrant's
               ability to record,  process,  summarize and report financial data
               and have  identified for the  registrant's  auditors any material
               weaknesses in internal controls ; and

      b.)      any fraud, whether  or not  material, that involves management or
               other employees who have a significant  role in the  registrant's
               internal controls; and

6.    The registrant's other certifying  officers  and I have indicated  in this
      annual report whether there were significant changes in internal  controls
      or in other  factors  that could  significantly  affect internal  controls
      subsequent  to the  date  of our  most  recent  evaluation, including  any
      corrective  actions with regard to  significant  deficiencies and material
      weaknesses.


March 26, 2003

                                 /s/ Ernest J. Furtado
                                 _______________________________________________
                                 Ernest J. Furtado
                                 Chief Financial Officer, Senior Vice President,
                                 Secretary and Director of TCC

<PAGE>



                                  EXHIBIT 99.1



                            CERTIFICATION PURSUANT TO
                               18 U.S.C. ss. 1350,
                        AS ADOPTED, REGARDING SECTION 906
                        OF THE SARBANES-OXLEY ACT OF 2002



In connection with the Annual Report of Textainer Equipment Income Fund V, L.P.,
(the  "Registrant")  on Form 10-K for the year ended December 31, 2002, as filed
on March 26, 2003 with the Securities and Exchange Commission (the "Report"), I,
John A. Maccarone,  the President and Director of Textainer Capital  Corporation
("TCC") and Principal  Executive Officer of TCC, the Managing General Partner of
the Registrant,  certify, pursuant to 18 U.S.C. ss. 1350, as adopted,  regarding
Section 906 of the Sarbanes-Oxley Act of 2002, that:

(i)   The Report fully complies with the requirements  of Section 13(a) or 15(d)
      of the Securities Exchange Act of 1934; and

(ii)  The information contained in the Report  fairly presents, in  all material
      respects, the financial condition, results of operations and cash flows of
      the Registrant.



March 26, 2003



                                By /s/ John A. Maccarone
                                   _____________________________________________
                                   John A. Maccarone
                                   President and Director of TCC



<PAGE>




                                  EXHIBIT 99.2



                            CERTIFICATION PURSUANT TO
                               18 U.S.C. ss. 1350,
                        AS ADOPTED, REGARDING SECTION 906
                        OF THE SARBANES-OXLEY ACT OF 2002



In connection with the Annual Report of Textainer Equipment Income Fund V, L.P.,
(the  "Registrant")  on Form 10-K for the year ended December 31, 2002, as filed
on March 26, 2003 with the Securities and Exchange Commission (the "Report"), I,
Ernest J. Furtado, Chief Financial Officer, Senior Vice President, Secretary and
Dirctor of Textainer  Capital  Corporation  ("TCC") and Principal  Financial and
Accounting  Officer of TCC,  the  Managing  General  Partner of the  Registrant,
certify,  pursuant to 18 U.S.C. ss. 1350, as adopted,  regarding  Section 906 of
the Sarbanes-Oxley Act of 2002, that:

(i)   The Report fully complies with the requirements  of Section 13(a) or 15(d)
      of the Securities Exchange Act of 1934; and

(ii)  The information contained in the Report  fairly presents, in  all material
      respects, the financial condition, results of operations and cash flows of
      the Registrant.



March 26, 2003



                       By  /s/ Ernest J. Furtado
                           _____________________________________________________
                           Ernest J. Furtado
                           Chief Financial Officer, Senior Vice President,
                           Secretary and Director of TCC