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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
[ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 1997
Commission file number 0-15801
AMERICAN LEASING INVESTORS VIII-B, L.P.
(Exact name of registrant as specified in its charter)
DELAWARE 13-3275939
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
411 West Putnam Avenue, Greenwich, CT 06830
(Address of principal executive offices)
(203) 862-7000
(Registrant's telephone number, including area code)
None
(Former name, former address and former fiscal year,
if changed since last report)
Indicate by check whether the registrant (1) has filed all reports required to
be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
Yes [ X ] No [ ]
<PAGE>
AMERICAN LEASING INVESTORS VIII-B, L.P.
FORM 10-Q - JUNE 30, 1997
INDEX
PART I - FINANCIAL INFORMATION
ITEM 1 - FINANCIAL STATEMENTS
BALANCE SHEETS - June 30, 1997 and December 31, 1996
STATEMENTS OF OPERATIONS - For the three months ended June 30, 1997 and
1996 and for the six months ended June 30, 1997 and 1996
STATEMENT OF PARTNERS' EQUITY - For the six months ended June 30, 1997
STATEMENTS OF CASH FLOWS - For the six months ended June 30, 1997 and
1996
NOTES TO FINANCIAL STATEMENTS
ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS
PART II - OTHER INFORMATION
ITEM 1 - LEGAL PROCEEDINGS
ITEM 5 - OTHER INFORMATION
ITEM 6 - EXHIBITS AND REPORTS ON FORM 8-K
SIGNATURES
<PAGE>
PART I - FINANCIAL INFORMATION
ITEM 5 - OTHER INFORMATION
ITEM 1 - FINANCIAL STATEMENTS
<TABLE>
<CAPTION>
AMERICAN LEASING INVESTORS VIII-B, L.P.
BALANCE SHEETS
June 30 December 31,
1997 1996
---------- ----------
<S> <C> <C>
ASSETS
Cash and cash equivalents ................................. $ 265,885 $ 201,251
Other receivables and prepaid expenses .................... 75,810 50,633
Leased equipment - net of accumulated depreciation of
$768,792 and $5,531,954 .................................. 41,784 3,161,494
---------- ----------
$ 383,479 $3,413,378
========== ==========
LIABILITIES AND PARTNERS' EQUITY
Liabilities
Accounts payable and accrued expenses ..................... $ 51,917 $ 44,108
Due to affiliates ......................................... 1,460 4,025
Deferred income ........................................... -- 49,800
---------- ----------
Total liabilities ....................................... 53,377 97,933
---------- ----------
Commitments and contingencies
Partners' equity
Limited partners' equity (as restated) (20,442 units issued
and outstanding) ......................................... $ 325,812 $3,281,301
General partners' equity (as restated) .................... 4,290 34,144
---------- ----------
Total partners' equity ................................... 330,102 3,315,445
---------- ----------
$ 383,479 $3,413,378
========== ==========
See notes to financial statements.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMERICAN LEASING INVESTORS VIII-B, L.P.
STATEMENTS OF OPERATIONS
For the three months ended For the six months ended
June 30, June 30,
--------------------------- ---------------------------
1997 1996 1997 1996
----------- ----------- ----------- -----------
<S> <C> <C> <C> <C>
Revenues
Other, principally interest .......... $ 23,610 $ 2,691 $ 26,101 $ 6,191
Rental ............................... 12,435 229,079 98,742 458,158
----------- ----------- ----------- -----------
36,045 231,770 124,843 464,349
----------- ----------- ----------- -----------
Costs and expenses
General and administrative ........... 32,717 12,893 59,347 35,569
Depreciation ......................... 18,237 142,521 77,903 285,044
Operating ............................ 100 239 11,795 525
Fees to affiliates ................... 248 4,581 (2,084) 9,163
Interest ............................. -- 11,603 -- 27,552
----------- ----------- ----------- -----------
51,302 171,837 146,961 357,853
----------- ----------- ----------- -----------
(15,257) 59,933 (22,118) 106,496
Other income
Gain on disposition of equipment - net 2,240,193 -- 2,240,193 --
----------- ----------- ----------- -----------
Net income ................................ $ 2,224,936 $ 59,933 $ 2,218,075 $ 106,496
=========== =========== =========== ===========
Net income attributable to
Limited partners ..................... $ 2,202,687 $ 59,334 $ 2,195,895 $ 105,431
General partners ..................... 22,249 599 22,180 1,065
----------- ----------- ----------- -----------
$ 2,224,936 $ 59,933 $ 2,218,075 $ 106,496
=========== =========== =========== ===========
Net income per unit of limited partnership
interest (20,442 units outstanding) .. $ 107.75 $ 2.90 $ 107.42 $ 5.16
=========== =========== =========== ===========
See notes to financial statements.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMERICAN LEASING INVESTORS VIII-B, L.P.
STATEMENT OF PARTNERS' EQUITY
Limited General Total
Partners' Partners' Partners'
Equity Equity Equity
<S> <C> <C> <C>
Balance, January 1, 1997 ............... $ 3,383,511 $ (68,066) $ 3,315,445
Reallocation of partners' equity ....... (102,210) 102,210 --
----------- ----------- -----------
Balance, January 1, 1997 (as restated) . 3,281,301 34,144 3,315,445
Distributions paid for the
six months ended June 30, 1997
($252 per limited partnership unit) (5,151,384) (52,034) (5,203,418)
Net income for the six months
ended June 30, 1997 ............... 2,195,895 22,180 2,218,075
----------- ----------- -----------
Balance, June 30, 1997 ................. $ 325,812 $ 4,290 $ 330,102
=========== =========== ===========
See notes to financial statements.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMERICAN LEASING INVESTORS VIII-B, L.P.
STATEMENTS OF CASH FLOWS
For the six months ended
June 30,
---------------------------
1997 1996
----------- -----------
<S> <C> <C>
INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS
Cash flows from operating activities
Net income ............................................... $ 2,218,075 $ 106,496
Adjustments to reconcile net income to net
cash (used in) provided by operating activities
Depreciation ...................................... 77,903 285,044
Gain on disposition of equipment - net ............ (2,240,193) --
Changes in assets and liabilities
Other receivables and prepaid expenses ................ (25,177) (24,232)
Accounts payable and accrued expenses ................. 7,809 (21,483)
Due to affiliates ..................................... (2,565) (1,721)
Deferred income ....................................... (49,800) --
Accrued interest payable .............................. -- (871)
----------- -----------
Net cash (used in) provided by operating activities (13,948) 343,233
----------- -----------
Cash flows from investing activities
Proceeds from disposition of equipment - net ............. 5,282,000 --
----------- -----------
Cash flows from financing activities
Distributions to partners ................................ (5,203,418) (41,297)
Principal payments of notes payable ...................... -- (386,822)
----------- -----------
Net cash used in financing activities ............. (5,203,418) (428,119)
----------- -----------
Net increase (decrease) in cash and cash equivalents .......... 64,634 (84,886)
Cash and cash equivalents, beginning of period ................ 201,251 302,679
----------- -----------
Cash and cash equivalents, end of period ...................... $ 265,885 $ 217,793
=========== ===========
Supplemental disclosure of cash flow information
Interest paid ............................................ $ -- $ 28,423
=========== ===========
See notes to financial statements.
</TABLE>
<PAGE>
AMERICAN LEASING INVESTORS VIII-B, L.P.
NOTES TO FINANCIAL STATEMENTS
1 INTERIM FINANCIAL INFORMATION
The summarized financial information contained herein is unaudited;
however, in the opinion of management, all adjustments (consisting only
of normal recurring accruals) necessary for a fair presentation of such
financial information have been included. The accompanying financial
statements, footnotes and discussions should be read in conjunction
with the financial statements, related footnotes and discussions
contained in the American Leasing Investors VIII-B, L.P. (the
"Partnership") annual report on Form 10-K for the year ended December
31, 1996. The results of operations for the six months ended June 30,
1997 are not necessarily indicative of the results to be expected for
the full year.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Leased equipment
The cost of leased equipment represents the initial cost of the
equipment to the Partnership plus miscellaneous acquisition and closing
costs, and is carried at the lower of depreciated cost or net
realizable value.
Depreciation is computed using the straight-line method over the
estimated useful lives of such assets (15 years for transportation
equipment and 10 years for packaging line equipment).
When equipment is sold or otherwise disposed of, the cost and
accumulated depreciation (and any related allowance for equipment
impairment) are removed from the accounts and any gain or loss on such
sale or disposal is reflected in operations. Normal maintenance and
repairs are charged to operations as incurred. The Partnership provides
allowances for equipment impairment based upon a quarterly review of
all equipment in its portfolio, when management believes that, based
upon market analysis, appraisal reports and leases currently in place
with respect to specific equipment, the investment in such equipment
may not be recoverable.
Recently issued accounting pronouncement
The Financial Accounting Standards Board issued Statement of Financial
Accounting Standards No. 128, "Earnings per Share" in February, 1997.
This pronouncement establishes standards for computing and presenting
earnings per share, and is effective for the Partnership's 1997
year-end financial statements. The Partnership's management has
determined that this standard will have no impact on the Partnership's
computation or presentation of net income per unit of limited
partnership interest.
<PAGE>
AMERICAN LEASING INVESTORS VIII-B, L.P.
NOTES TO FINANCIAL STATEMENTS
3 CONFLICTS OF INTEREST AND TRANSACTIONS WITH RELATED PARTIES
The corporate general partner of the Partnership, ALI Capital Corp.
(the "Corporate General Partner"), the managing general partner of the
Partnership, ALI Equipment Management Corp. ("Equipment Management")
and Integrated Resources Equipment Group, Inc. ("IREG") are wholly
owned subsidiaries of Presidio Capital Corp. ("Presidio"). Presidio
Boram Corp., a subsidiary of Presidio, is the associate general
partner. Other limited partnerships and similar investment programs
have been formed by Equipment Management or its affiliates to acquire
equipment and, accordingly, conflicts of interest may arise between the
Partnership and such other limited partnerships. Affiliates of
Equipment Management have also engaged in businesses related to the
management of equipment and the sale of various types of equipment and
may transact business with the Partnership.
Subject to the rights of the Limited Partners under the Limited
Partnership Agreement, Presidio will control the Partnership through
its direct or indirect ownership of all of the shares of Equipment
Management, the Corporate General Partner and, as of February 28, 1995,
the associate general partner. Presidio is managed by Presidio
Management Company, LLC ("Presidio Management"), a company controlled
by a director of Presidio. Presidio is also party to an administrative
services agreement with Wexford Management LLC ("Wexford") pursuant to
which Wexford is responsible for the day-to-day management of Presidio
and, among other things, has authority to designate directors of
Equipment Management, the Corporate General Partner and the associate
general partner. During the six months ended June 30, 1997 and 1996,
reimbursable expenses due to Wexford from the Partnership amounted to
$8,324 and $12,241.
Presidio is a liquidating company. Although Presidio has no immediate
plans to do so, it will ultimately seek to dispose of the interests
through liquidation; however, there can be no assurance of the timing
of such transaction or the effect it may have on the Partnership.
The Partnership has a management agreement with IREG, pursuant to which
IREG receives 5% of annual gross rental revenues on operating leases;
2% of annual gross rental revenues on full payout leases which contain
net lease provisions; and 1% of annual gross rental revenues, if
services are performed by third parties under the active supervision of
IREG, as defined in the Limited Partnership Agreement. The Partnership
incurred equipment management fees of $(2,084) and $9,163 for the six
months ended June 30, 1997 and 1996, respectively.
During the operating and sale stage of the Partnership, IREG is
entitled to a partnership management fee equal to 4% of distributable
cash from operations, as defined in the Limited Partnership Agreement,
<PAGE>
AMERICAN LEASING INVESTORS VIII-B, L.P.
NOTES TO FINANCIAL STATEMENTS
3 CONFLICTS OF INTEREST AND TRANSACTIONS WITH RELATED PARTIES (continued)
subject to increase after the limited partners have received certain
specified minimum returns on their investment. No partnership
management fees were incurred for the six months ended June 30, 1997
and 1996.
The general partners are entitled to 1% of distributable cash from
operations and cash from sales and an allocation of 1% of taxable net
income or loss of the Partnership.
During the operating and sale stage of the Partnership, IREG may be
entitled to receive certain other fees which are subordinated to the
receipt by the limited partners of their original invested capital and
certain specified minimum returns on their investment.
Upon the ultimate liquidation of the Partnership, the general partners
may be required to remit to the Partnership certain payments
representing capital account deficit restoration based upon a formula
provided within the Limited Partnership Agreement. Such restoration
amount may be less than the recorded general partners' deficit, which
could result in distributions to the limited partners of less than
their recorded equity.
In April 1995, Equipment Management and certain affiliates entered into
an agreement with Fieldstone Private Capital Group, L.P. ("Fieldstone")
pursuant to which Fieldstone performs certain management and
administrative services relating to the Partnership as well as certain
other partnerships in which Equipment Management serves as general
partner. Substantially all costs associated with the retention of
Fieldstone, other than legal fees, are paid by Equipment Management.
4 PARTNERS' EQUITY
The General Partners hold a 1% equity interest in the Partnership. At
the inception of the Partnership, the General Partners' equity account
was credited with only the actual capital contributed in cash, $1,000.
The Partnership's management determined that this accounting does not
appropriately reflect the limited partners' and the General Partners'
relative participations in the Partnership's net assets, since it does
not reflect the General Partners' 1% equity interest in the
Partnership. Thus, the Partnership has restated its financial
statements to reallocate $102,210 (1% of the gross proceeds raised at
the Partnership's formation) of the partners' equity to the General
<PAGE>
AMERICAN LEASING INVESTORS VIII-B, L.P.
NOTES TO FINANCIAL STATEMENTS
4 PARTNERS' EQUITY (continued)
Partners' equity account. This reallocation was made as of the
inception of the Partnership and all periods presented in the financial
statements have been restated to reflect the reallocation. The
reallocation has no impact on the Partnership's financial position,
results of operations, cash flows, distributions to partners, or the
partners' tax basis capital accounts.
5 DISTRIBUTIONS TO PARTNERS
Distributions paid to partners represented distributable cash from
sales, as defined in the Limited Partnership Agreement, for the second
quarter of 1997. Distributions to limited partners were $252 per
limited partnership unit and distributions to the general partners
aggregated $52,034 and were paid in May 1997.
6 EQUIPMENT SALE
On January 21, 1997, the lease of the British Aerospace HS 125-800A
aircraft (the "DuPont Aircraft") owned by the Partnership, expired in
accordance with its original terms. The associated debt was repaid upon
the receipt of the final rental installment. The lessee continued to
utilize the DuPont Aircraft, with the Partnership's consent, until
January 31, 1997 at which time the DuPont Aircraft was made available
for its return inspection. On April 16, 1997, the Partnership sold the
DuPont Aircraft to an unaffiliated third party for a purchase price of
$5,400,000, exclusive of selling expenses of approximately $118,000. At
the time of sale, the DuPont Aircraft had a net carrying value of
approximately $3,041,800.
<PAGE>
ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS
Liquidity and Capital Resources
The General Partners hold a 1% equity interest in the Partnership. At
the inception of the Partnership, the General Partners' equity account
was credited with only the actual capital contributed in cash, $1,000.
The Partnership's management determined that this accounting does not
appropriately reflect the limited partners' and the General Partners'
relative participations in the Partnership's net assets, since it does
not reflect the General Partners' 1% equity interest in the
Partnership. Thus, the Partnership has restated its financial
statements to reallocate $102,210 (1% of the gross proceeds raised at
the Partnership's formation) of the partners' equity to the General
Partners' equity account. This reallocation was made as of the
inception of the Partnership and all periods presented in the financial
statements have been restated to reflect the reallocation. The
reallocation has no impact on the Partnership's financial position,
results of operations, cash flows, distributions to partners, or the
partners' tax basis capital accounts.
As of June 30, 1997, the Partnership had operating reserves of
approximately $288,000 which was comprised of undistributed cash from
operations and sales of approximately $186,000 as well as the general
working capital reserve of approximately $102,000. On April 16, 1997,
the Partnership sold one of its two remaining assets, a British
Aerospace HS 125-800A aircraft (the "Dupont Aircraft"), and generated
net proceeds of approximately $5,282,000 in connection with the sale.
The Partnership distributed the net proceeds of the sale, less any
amounts required as reserves, of $252 per Unit in May 1997. The
Partnership's sole remaining asset, packaging line equipment (the
"Packaging Line Equipment") formerly leased to Xerox Corporation
("Xerox"), is not currently generating any revenue and is the subject
of litigation described in Part II, Item 1. The Partnership does not
anticipate that it will make any additional distributions until it
disposes of the Packaging Line Equipment and resolves the issues
associated with the litigation.
The Partnership had no outstanding material commitments for capital
expenditures as of June 30, 1997.
Inflation and changing prices have not had any material effect on the
Partnership's revenues since its inception nor does the Partnership
anticipate any material effect on its business from these factors.
Set forth below is a description of various transactions which have
impacted the liquidity of the Partnership during 1997 and 1996:
(i) In early July 1994, upon the receipt of the final rental
installment during the initial lease term associated with the
Packaging Line Equipment, the associated nonrecourse debt was
repaid. Xerox, the lessee of the Packaging Line Equipment,
exercised its right to renew the lease through December 1995, in
accordance with its "Fair Market Rental Value" renewal option at
<PAGE>
Liquidity and Capital Resources (continued)
a fair market rental rate equal to approximately 42% of the
original rent. Since January 1, 1996, the Partnership and Xerox
have attempted to reach agreement for either a lease extension or
a sale of the Packaging Line Equipment. Notwithstanding the
absence of an agreement on a lease extension, and without the
consent of the Partnership, Xerox continued to utilize the
Packaging Line Equipment while refusing to pay any rent. The
Partnership and Xerox were unable to reach an agreement and, on
April 17, 1997, the Partnership commenced an action against Xerox
which is described in Part II, Item 1. The Packaging Line
Equipment had a net carrying value of $41,784 and $78,259 at June
30, 1997 and December 31, 1996, respectively.
(ii) On January 21, 1997, the lease of the DuPont Aircraft owned by
the Partnership expired in accordance with its original terms.
The associated debt was repaid upon the receipt of the final
rental installment. The lessee continued to utilize the DuPont
Aircraft, with the Partnership's consent, until January 31, 1997
at which time the DuPont Aircraft was made available for its
return inspection. On April 16, 1997, the Partnership sold the
DuPont Aircraft to an unaffiliated third party for a purchase
price of $5,400,000, exclusive of selling expenses of
approximately $118,000. At the time of sale, the DuPont Aircraft
had a net carrying value of approximately $3,041,800.
In April 1995, the managing general partner of the Partnership, ALI
Equipment Management Corp. ("Equipment Management"), and certain
affiliates entered into an agreement with Fieldstone Private Capital
Group, L.P. ("Fieldstone") pursuant to which Fieldstone performs
certain management and administrative services relating to the
Partnership as well as certain other partnerships in which Equipment
Management serves as general partner. Substantially all costs
associated with the retention of Fieldstone, other than legal fees, are
paid by Equipment Management.
Results of Operations
Net income increased for the quarter and the six months ended June 30,
1997, as compared to the net income for the quarter and six months
ended June 30, 1996, due to the recognition of the gain from the sale
of the DuPont Aircraft on April 16, 1997.
Revenue decreased for the quarter and six months ended June 30, 1997,
as compared to the corresponding periods of the prior year, primarily
due to the expiration of the lease of DuPont Aircraft on January 21,
1997. This was partially offset by the interest earned on the proceeds
generated from the sale of the DuPont Aircraft available for the short
term investment.
Expenses decreased for the quarter and six months ended June 30, 1997,
as compared to the corresponding periods of the prior year due to: (i)
less depreciation in the current periods on the DuPont Aircraft sold on
April 16, 1997, (ii) reduced interest due to the repayment of debt
associated with the DuPont Aircraft in January 1997, (iii) lower
equipment management fees due to reduced rental on which such fee is
based, (iv) offset by the increase in legal and operating expenses
related to the DuPont Aircraft.
<PAGE>
PART II - OTHER INFORMATION
ITEM 1 - LEGAL PROCEEDINGS
On June 30, 1994, the Partnership's lease of certain packaging
line equipment (the "Packaging Line Equipment") with Xerox
Corporation ("Xerox") was scheduled to expire in accordance with
the original lease terms (the "Xerox Lease"). Upon receipt of the
final rental installment due under the Xerox Lease the associated
nonrecourse debt was repaid.
In late 1993, Xerox had notified the Partnership of its intent to
exercise its right to extend the Xerox Lease and Xerox and the
Partnership commenced negotiations to determine the fair market
rental value of the Packaging Line Equipment. Pursuant to the
terms of the Xerox Lease, Xerox had the right to elect to extend
the Xerox Lease for two consecutive periods of one year each. In
October 1995, the Partnerships and Xerox agreed upon a lease rate
for an eighteen month lease renewal which expired on December 31,
1995.
Since January 1, 1996, the Partnership and Xerox have attempted
to reach agreement for either a lease extension or a sale of the
Packaging Line Equipment. Notwithstanding the absence of an
agreement on a lease extension, and without the consent of the
Partnership, Xerox continued to utilize the Packaging Line
Equipment while refusing to pay any rent. The Partnership and
Xerox were unable to reach an agreement and, on April 17, 1997,
the Partnership commenced an action against Xerox in the Supreme
Court of the State of New York, County of New York, seeking
compensation and punitive damages relating to Xerox's retention
of the Packaging Line Equipment.
On June 19, 1997, Xerox responded to the Partnership's complaint
by a motion to compel appraisal and to stay the proceedings
pending such appraisal. The Partnership intends to contest
Xerox's motion, but there can be no assurance as to the timing or
outcome of such contest of the Xerox motion.
ITEM 5 - OTHER INFORMATION
On July 25, 1997, Wexford, the administrator for Presidio
("Presidio"), the parent company of ALI Equipment Management
Corp., ALI Capital Corp. and Presidio Boram Corp., the Managing,
Corporate and Associate General Partners, respectively, of (the
"Partnership") and Integrated Resources Equipment Group Inc.,
received notice from Presidio Holding Company, LLC, which stated
that it was the holder of 63% of the outstanding Class A common
shares of Presidio, that it was seeking to remove the three
current Class A directors and replacing them with Edward Scheetz,
David Hamamoto and David King effective as of 12:00 p.m. on
September 2, 1997. There exists substantial doubt as to the
effectiveness of such notice. On August 15, 1997, Presidio
applied to the Judge of the High Court in the British Virgin
Islands for a declaration that the written resolution of Presidio
Holding LLC, dated July 25, 1997 was invalid and of no effect
insofar as it purports to be a written resolution of the Class A
Members of Presidio.
<PAGE>
As of August 18, 1997, there have been no changes in the
composition of the officers and directors of the general
partners. In addition, the administrative services agreement with
Wexford remains in effect and is scheduled to terminate in
November 1997.
ITEM 6 - EXHIBITS AND REPORTS ON FORM 8-K
(a) Exhibits: None.
(b) Reports on Form 8-K: Current report on Form 8-K dated April 16, 1997.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
AMERICAN LEASING INVESTORS VIII-B, L.P.
By: ALI Equipment Management Corp.
Managing General Partner
/s/ Douglas J. Lambert
----------------------
Douglas J. Lambert
President (Principal Executive and
Financial Officer)
Date: August 18, 1997
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE FINANCIAL
STATEMENTS OF THE JUNE 30, 1997 FORM 10-Q OF AMERICAN LEASING INVESTORS VIII-B
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> JUN-30-1997
<CASH> 265,885
<SECURITIES> 0
<RECEIVABLES> 75,810
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 341,695
<PP&E> 810,576
<DEPRECIATION> 768,792
<TOTAL-ASSETS> 383,479
<CURRENT-LIABILITIES> 53,377
<BONDS> 0
0
0
<COMMON> 0
<OTHER-SE> 330,102
<TOTAL-LIABILITY-AND-EQUITY> 383,479
<SALES> 0
<TOTAL-REVENUES> 2,365,036
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 146,961
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 2,218,075
<INCOME-TAX> 0
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 2,218,075
<EPS-PRIMARY> 0
<EPS-DILUTED> 0
</TABLE>
