THRUSTMASTER INC
SC 13G, 1999-03-22
COMPUTER PERIPHERAL EQUIPMENT, NEC
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						UNITED STATES
				SECURITIES AND EXCHANGE COMMISSION
					Washington, D.C. 20549

						SCHEDULE 13G

			Under the Securities Exchange Act of 1934
					  (Amendment No. *)

					  Thrustmaster, Inc.
					  (Name of Issuer)

						Common Stock
				(Title of Class of Securities)

						  886027101
						(CUSP Number)

						March 10, 1999
		(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this 
Schedule is filed:

					/__/	Rule 13d-1(b)
					/X/	Rule 13d-1(c)
					/__/	Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting 
person's initial filing on this form with respect to the subject class of 
securities, and for any subsequent amendment containing information which 
would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be 
deemed to be "filed" for the purpose of Section 18 of the Securities 
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of 
that section of the Act but shall be subject to all other provisions of the 
Act (however, see the Notes).

Potential persons who are to respond to the collection of information 
contained in this form are not required to respond unless the form displays 
a currently valid OMB control number.

SEC 1745 (3-98)										Page 1 of 9

<PAGE>
CUSIP No. 886027101						Page 2 of 9 Pages

- ----------------------------------------------------------------
1	NAME OF REPORTING PERSONS
	IRS IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

	Sawtooth Partners, L.P.  
- ----------------------------------------------------------------
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
	(a)/X/
	(b)/  /
- ----------------------------------------------------------------
3	SEC USE ONLY

- ----------------------------------------------------------------
4	CITIZENSHIP OR PLACE OF ORGANIZATION

	Delaware
- ----------------------------------------------------------------
	  NUMBER OF	5	SOLE VOTING POWER
	   SHARES			0
	BENEFICIALLY		---------------------------------------
	  OWNED BY		6	SHARED VOTING POWER
	    EACH			250,480
	 REPORTING		---------------------------------------
	   PERSON		7	SOLE DISPOSITIVE POWER
	    WITH			0
					---------------------------------------
				8	SHARED DISPOSITIVE POWER
					250,480
- ----------------------------------------------------------------
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	250,480
- ----------------------------------------------------------------
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See 
Instructions)

- ----------------------------------------------------------------
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
	5.7%
- ----------------------------------------------------------------
12	TYPE OF REPORTING PERSON (See Instructions)
	PN
- ----------------------------------------------------------------

<PAGE>
CUSIP No. 886027101						Page 3 of 9 Pages

- ----------------------------------------------------------------
1	NAME OF REPORTING PERSONS
	IRS IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

	Sawtooth Capital Management, Inc.  95-4498203
- ----------------------------------------------------------------
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
	(a)/X/
	(b)/  /
- ----------------------------------------------------------------
3	SEC USE ONLY

- ----------------------------------------------------------------
4	CITIZENSHIP OR PLACE OF ORGANIZATION

	Delaware
- ----------------------------------------------------------------
	  NUMBER OF	5	SOLE VOTING POWER
	   SHARES			0
	BENEFICIALLY		---------------------------------------
	  OWNED BY		6	SHARED VOTING POWER
	    EACH			448,400
	 REPORTING		---------------------------------------
	   PERSON		7	SOLE DISPOSITIVE POWER
	    WITH			0
					---------------------------------------
				8	SHARED DISPOSITIVE POWER
					448,400
- ----------------------------------------------------------------
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	448,400
- ----------------------------------------------------------------
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See 
Instructions)

- ----------------------------------------------------------------
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
	10.2%
- ----------------------------------------------------------------
12	TYPE OF REPORTING PERSON (See Instructions)
	CO
- ----------------------------------------------------------------


<PAGE>
CUSIP No. 886027101						Page 4 of 9 Pages

- ----------------------------------------------------------------
1	NAME OF REPORTING PERSONS
	IRS IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

	Sawtooth Capital Management, L.P.  95-4507334
- ----------------------------------------------------------------
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
	(a)/X/
	(b)/  /
- ----------------------------------------------------------------
3	SEC USE ONLY

- ----------------------------------------------------------------
4	CITIZENSHIP OR PLACE OF ORGANIZATION

	Delaware
- ----------------------------------------------------------------
	  NUMBER OF	5	SOLE VOTING POWER
	   SHARES			0
	BENEFICIALLY		---------------------------------------
	  OWNED BY		6	SHARED VOTING POWER
	    EACH			448,400
	 REPORTING		---------------------------------------
	   PERSON		7	SOLE DISPOSITIVE POWER
	    WITH			0
					---------------------------------------
				8	SHARED DISPOSITIVE POWER
					448,400
- ----------------------------------------------------------------
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	448,400
- ----------------------------------------------------------------
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See 
Instructions)

- ----------------------------------------------------------------
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
	10.2%
- ----------------------------------------------------------------
12	TYPE OF REPORTING PERSON (See Instructions)
	PN, IA
- ----------------------------------------------------------------


<PAGE>
CUSIP No. 886027101						Page 5 of 9 Pages

- ----------------------------------------------------------------
1	NAME OF REPORTING PERSONS
	IRS IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

	Bartley Boyd Blout  ###-##-####
- ----------------------------------------------------------------
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
	(a)/X/
	(b)/  /
- ----------------------------------------------------------------
3	SEC USE ONLY

- ----------------------------------------------------------------
4	CITIZENSHIP OR PLACE OF ORGANIZATION

	United States
- ----------------------------------------------------------------
	  NUMBER OF	5	SOLE VOTING POWER
	   SHARES			0
	BENEFICIALLY		---------------------------------------
	  OWNED BY		6	SHARED VOTING POWER
	    EACH			448,400
	 REPORTING		---------------------------------------
	   PERSON		7	SOLE DISPOSITIVE POWER
	    WITH			0
					---------------------------------------
				8	SHARED DISPOSITIVE POWER
					448,400
- ----------------------------------------------------------------
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	448,400
- ----------------------------------------------------------------
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See 
Instructions)

- ----------------------------------------------------------------
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
	10.2%
- ----------------------------------------------------------------
12	TYPE OF REPORTING PERSON (See Instructions)
	IN
- ----------------------------------------------------------------


 <PAGE>
CUSIP No. 886027101				13G			Page 6 of 9 Pages

ITEM 1.

     (a)  The name of the issuer is Thrustmaster, Inc. (the "Issuer").

     (b)  The principal executive office of the Issuer is located at
		7175 N.W. Evergreen Parkway, #400, Hillsboro, Oregon 97124-5839.


ITEM 2.

     (a)  The names of the persons filing this statement are:
		Sawtooth Capital Management, L.P. ("SCMLP"),
		Sawtooth Capital Management, Inc. ("SCMI"), Sawtooth
		Partners, L.P.("SPLP") and Bartley Boyd Blout ("Blout")
		(collectively, the "Filers").

     (b)  The principal business office of the Filers is located at:
		100 Wilshire Boulevard, 15th Floor, Santa Monica,
		California 90401

     (c)  See Item 4 of the cover sheet for each Filer.

     (d)  This statement relates to shares of common stock and options to
		acquire shares of common stock of the Issuer (the "Securities").

     (e)  The CUSIP number of the Securities is 886027101.


 <PAGE>

CUSP No. 886027101				13G			Page 7 of 9 Pages

ITEM 3.  If this statement is filed pursuant to rule 240.13d-1(b) or 
240.13d-2(b) or (c), check whether the person filing is a:

	(a)	___	Broker or dealer registered under section 15 of the Act (15 
U.S.C. 78o).

	(b)	___	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 
78c).

	(c)	___	Insurance company as defined in section 3(a)(19) of the Act 
(15 U.S.C. 78c).

	(d)	___	Investment company registered under section 8 of the 
Investment Company Act of 1940 (15 U.S.C. 80a-8).

	(e)	___	An investment adviser in accordance with 240.13d-
1(b)(1)(ii)(E).

	(f)	___	An employee benefit plan or endowment fund in accordance 
with 240.13d-1(b)(1)(ii)(F).

	(g)	___	A parent holding company or control person in accordance 
with 240.13d-1(b)(1)(ii)(G)

	(h)	___	A savings association as defined in section 3(b) of the 
Federal Deposit Insurance Act (12 U.S.C. 1813).

	(i)	___	A church plan that is excluded from the definition of an 
investment company under section 3(c)(14) of the Investment Company Act of 
1940 (15 U.S.C. 80a-3).

	(j)	___	Group, in accordance with section 240.13d-1(b)(1)(ii)(J)


<PAGE>

CUSIP No. 886027101				13G			Page 8 of 9 Pages

ITEM 4.  OWNERSHIP

See Items 5-9 and 11 on the cover sheet for each Filer.


ITEM 5.  OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

If this statement is being filed to report the fact that as of the date 
hereof the reporting person has ceased to be the beneficial owner of more 
than five percent of the class of securities, check the following /___/.


ITEM 6.  OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON

SCMLP is a registered investment adviser whose clients, including SPLP, 
have the right to receive or the power to direct the receipt of dividends 
from, or the proceeds from the sale of, the Securities.  No individual 
client, other than SPLP, holds more than five percent of the Securities. 
SCMLP is the sole general partner of SPLP.  SCMI is the sole general 
partner of SCMLP.  Blout is the controlling shareholder of SCMI.

 <PAGE>

CUSIP No. 886027101				13G			Page 9 of 9 Pages


ITEM 7.  IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED 
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY

Not applicable.

ITEM 8.  IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

See Items 2(a) and 6 of this Schedule.

ITEM 9.  NOTICE OF DISSOLUTION OF GROUP

Not applicable.

ITEM 10.  CERTIFICATION

By signing below I certify that, to the best of my knowledge and belief, 
the securities referred to above were not acquired and are not held for the 
purpose of or with the effect of changing or influencing the control of the 
issuer of the securities and were not acquired and are not held in 
connection with or as a participant in any transaction having that purpose 
or effect.


Dated:	March 22, 1999

SAWTOOTH CAPITAL MANAGEMENT, L.P.
								SAWTOOTH PARTNERS, L.P.
By:	Sawtooth Capital Management, Inc.	
	General Partner					By:  Sawtooth Capital Management,
									L.P., General Partner

	By:	/s/ Bartley B. Blout				By:	Sawtooth Capital
		Bartley B. Blout					Management, Inc.
		President							General Partner
		
										By:	/s/ Bartley B. Blout

											Bartley B. Blout
											President

SAWTOOTH CAPITAL MANAGEMENT, INC.

By:	/s/ Bartley Boyd Blout

	Bartley B. Blout
	President


/s/ Bartley Boyd Blout

Bartley Boyd Blout


BLD\4198\002\1036364.01



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