<ARTICLE> 5 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> MAR-31-2000 <PERIOD-END> SEP-30-1999 <CASH> 57,593 <SECURITIES> 1,574,439 <RECEIVABLES> 000 <ALLOWANCES> 000 <INVENTORY> 000 <CURRENT-ASSETS> 000 <PP&E> 000 <DEPRECIATION> 000 <TOTAL-ASSETS> 23,661,923<F1> <CURRENT-LIABILITIES> 000 <BONDS> 000 <PREFERRED-MANDATORY> 000 <PREFERRED> 000 <COMMON> 000 <OTHER-SE> 23,288,866 <TOTAL-LIABILITY-AND-EQUITY> 23,661,923<F2> <SALES> 000 <TOTAL-REVENUES> 45,423<F3> <CGS> 000 <TOTAL-COSTS> 000 <OTHER-EXPENSES> 185,125<F4> <LOSS-PROVISION> 000 <INTEREST-EXPENSE> 000 <INCOME-PRETAX> 000 <INCOME-TAX> 000 <INCOME-CONTINUING> 000 <DISCONTINUED> 000 <EXTRAORDINARY> 000 <CHANGES> 000 <NET-INCOME> (1,189,329)<F5> <EPS-BASIC> (32.26) <EPS-DILUTED> 000 <FN> <F1>Total assets include Investments in Local Limited Partnerships of $22,011,844 and Other assets of $18,047. <F2>Total liability and equity includes Accounts payable to affiliate of $345,760 and Accrued expenses of $27,297. <F3>Total revenue includes Investment of $44,273 and Other of $1,150. <F4>Other Expenses include Asset Management fees, related party of $103,110, General and administrative of $67,044 and Amortization of $14,971. <F5>Net loss includes Equity in losses of Local Limited Partnerships of $1,049,627. </FN>