Exhibit 32.1
                                  CERTIFICATION

I, Dean L. Cash,  Chief  Executive  Officer  of ATEL  Financial  Services,  LLC,
General  Partner of ATEL Cash  Distribution  Fund V, L.P.  (the  "Partnership"),
certify,  pursuant to Section 906 of the  Sarbanes-Oxley  Act of 2002, 18 U.S.C.
Section 1350, that:

   1.      The  Quarterly  Report  on Form  10-QSB  of the  Partnership  for the
           quarter ended March 31, 2005 (the  "Report")  fully complies with the
           requirements of Section 13(a) of the Securities  Exchange Act of 1934
           (15 U.S.C. 78m); and
   2.      The  information  contained  in the Report  fairly  presents,  in all
           material respects,  the financial condition and results of operations
           of the Partnership.

  Date:      May 13, 2005



  /s/ Dean L. Cash
  Dean L. Cash
  President and Chief Executive
  Officer of General Partner



  A signed original of this written  statement  required by Section 906 has been
  provided  to the  Partnership  and will be  retained  by the  Partnership  and
  furnished to the Securities and Exchange Commission or its staff upon request.