<ARTICLE>                  5
       
                                                  
<PERIOD-TYPE>                                        9-MOS
<FISCAL-YEAR-END>                                    MAR-31-1999
<PERIOD-END>                                         DEC-31-1998
<CASH>                                               549,521
<SECURITIES>                                         2,877,748
<RECEIVABLES>                                        000
<ALLOWANCES>                                         000
<INVENTORY>                                          000
<CURRENT-ASSETS>                                     000
<PP&E>                                               000
<DEPRECIATION>                                       000
<TOTAL-ASSETS>                                       29,492,364<F1>
<CURRENT-LIABILITIES>                                000
<BONDS>                                              000
<PREFERRED-MANDATORY>                                000
<PREFERRED>                                          000
<COMMON>                                             000
<OTHER-SE>                                           29,125,029
<TOTAL-LIABILITY-AND-EQUITY>                         29,492,364<F2>
<SALES>                                              000
<TOTAL-REVENUES>                                     200,736<F3>
<CGS>                                                000
<TOTAL-COSTS>                                        000
<OTHER-EXPENSES>                                     435,871<F4>
<LOSS-PROVISION>                                     000
<INTEREST-EXPENSE>                                   000
<INCOME-PRETAX>                                      000
<INCOME-TAX>                                         000
<INCOME-CONTINUING>                                  000
<DISCONTINUED>                                       000
<EXTRAORDINARY>                                      000
<CHANGES>                                            000
<NET-INCOME>                                         (2,677,540)<F5>
<EPS-PRIMARY>                                        (52.05)
<EPS-DILUTED>                                        000
<FN>
<F1>Included in Total Assets is Investments in Local Limited  Partnerships of $25,769,839,  Restricted cash of $262,858
and Other assets of $32,398.
<F2>Included  in Total  Liabilities and Equity is Accounts  payable to affiliates of $304,464 and Accounts  payable and
accrued expenses of  $62,871.
<F3>Total revenue includes Investment of $149,594 and Other of $51,142.
<F4>Included   in  Other   Expenses  is  Asset   management   fees  of   $218,259,   General  and   administrative   of
$193,476 and Amortization of $24,136.
<F5>Net loss reflects Equity in losses of Local Limited Partnerships of $2,442,405.
</FN>