<PAGE> PAGE 1
000 A000000 03/31/96
000 C000000 0000821196
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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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SIGNATURE DIANNE QUALTROUGH
TITLE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000821196
<NAME> Leahi Investment Trust
<SERIES>
<NUMBER> 01
<NAME> Leahi Tax-Free Income Trust
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