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<title>Press Release dated 8/15/01</title>
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<p>&nbsp;</p>

<p ALIGN="CENTER"><font size="2">SECURITIES AND EXCHANGE COMMISSION</font></p>

<p align="center"><font size="2">Washington D.C. 20549</font></p>

<p align="center"><b><font size="2">FORM 8-K</font></p>
</b>

<p align="center"><font size="2">CURRENT REPORT</font></p>

<p align="center"><font size="2">Pursuant to Section 13 or 15(d) of the <br>
Securities Exchange Act of 1934</font></p>

<p ALIGN="CENTER"><font size="2">August 15, 2001<br>
Date of Report (Date of earliest event reported)</font></p>

<p ALIGN="CENTER"><font size="2"><u><b>POINT WEST CAPITAL CORPORATION</b></u> <br>
( Exact name of registrant as specified in its charter)</font></p>
<div align="center"><center>

<table border="0" cellpadding="0" cellspacing="0" width="100%">
  <tr>
    <td width="33%"><p align="center"><font size="2"><u>Delaware </u></font></td>
    <td width="33%"><p align="center"><font size="2"><u>0-27736</u></font></td>
    <td width="34%"><p align="center"><font size="2"><u>94-3165263</u></font></td>
  </tr>
  <tr>
    <td width="33%"><p align="center"><font size="2">(State or other&nbsp; jurisdiction of
    incorporation)</font></td>
    <td width="33%"><p align="center"><font size="2">(Commission File Number)</font></td>
    <td width="34%"><p align="center"><font size="2">(IRS Employer Identification No.)</font></td>
  </tr>
</table>
</center></div>

<p align="center"><font size="2"><u>1700 Montgomery Street, Suite 250, San Francisco, CA
94111</u><br>
(Address of principal executive offices) (Zip Code)</font></p>

<p ALIGN="CENTER"><font size="2">Registrant's telephone number, including area code:
(415)394-9467</font></p>

<p ALIGN="CENTER">&nbsp;</p>

<p><font size="2"><u><b>Item 5. Other Events</b></u> </font></p>

<p style="line-height: 30px"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On
August 15, 2001 Point West Capital Corporation&nbsp; issued a press release announcing
Second quarter results and finaical condition.</font></p>

<p><font size="2"><b><u>Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.</u></b></font></p>

<p style="line-height: 30px"><font size="2">(c)&nbsp;&nbsp;&nbsp; Exhibits</font></p>

<p><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99.1 Text of Press Release
dated August 15,&nbsp; 2001.</font></p>

<p>&nbsp;</p>
<u><b>

<p ALIGN="CENTER"><font size="2">SIGNATURES</font></p>
</b></u>

<p style="line-height: 30px"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this Report to be signed on its behalf by the undersigned thereunto duly
authorized.</font></p>
<div align="right">

<table border="0" cellpadding="0" cellspacing="0" width="50%">
  <tr>
    <td width="100%"><font size="2"><b>POINT WEST CAPITAL CORPORATION </b></font></td>
  </tr>
  <tr>
    <td width="100%"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></td>
  </tr>
  <tr>
    <td width="100%"><font size="2">By:&nbsp; /s/ John Ward Rotter</font></td>
  </tr>
  <tr>
    <td width="100%"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; John Ward Rotter</font></td>
  </tr>
  <tr>
    <td width="100%"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Executive
    Officer</font></td>
  </tr>
</table>
</div>

<p align="left"><font size="2">Date: August 16, 2001</font></p>
<u><b>

<p ALIGN="CENTER"><font size="2">EXHIBIT INDEX</font></p>
</b></u><div align="center"><center>

<table BORDER="1" CELLSPACING="1" CELLPADDING="8" WIDTH="582" height="84">
  <tr>
    <td WIDTH="155" VALIGN="top" height="30" style="vertical-align: text-bottom"><b><p
    align="center"><font size="2">Exhibit</font></b></p>
    <p align="center"><font size="2"><u><b>Number</b></u></font></td>
    <td WIDTH="263" VALIGN="TOP" height="30"><u><p ALIGN="CENTER"><font size="2">Document
    Description</u> </font></td>
    <td WIDTH="114" VALIGN="TOP" height="30"><p align="center"><font size="2"><b>Sequential
    Page</b></font></p>
    <p align="center"><font size="2"><u><b>Number</b></u></font></td>
  </tr>
  <tr>
    <td WIDTH="155" VALIGN="TOP" height="15"><p align="center"><font size="2">99.1</font></td>
    <td WIDTH="263" VALIGN="TOP" height="15"><p align="left"><font size="2">Text of Press
    Release dated August 15,&nbsp; 2001</font></td>
    <td WIDTH="114" VALIGN="TOP" height="15"><blockquote>
      <blockquote>
        <p align="center"><font size="2">5</font></p>
      </blockquote>
    </blockquote>
    </td>
  </tr>
</table>
</center></div>

<p align="right"></font>&nbsp;</p>

<p ALIGN="RIGHT"><font size="2">FOR IMMEDIATE RELEASE<br>
August 15, 2001</font></p>

<p ALIGN="RIGHT">&nbsp;</p>

<p ALIGN="center">&nbsp;</p>
<b>

<p>&nbsp;</p>

<p ALIGN="CENTER"><font size="2">POINT WEST CAPITAL CORPORATION<br>
ANNOUNCES SECOND QUARTER RESULTS<br>
AND FINANCIAL CONDITION </font></p>
</b>

<p><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>

<p ALIGN="JUSTIFY" style="line-height: 30px"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
SAN FRANCISCO --(August 15, 2001) Point West Capital Corporation (OTC Symbol: PWCC.OB)
today reported the following:</font></p>

<p><font size="2">(Dollars in thousands, except per share amounts)</font></p>
<div align="left">

<table border="0" cellpadding="0" cellspacing="0" width="610" style="font-size: 10pt"
height="233">
  <tr>
    <td width="205" height="16"></td>
    <td width="206" align="center" colspan="4" height="16"><font size="2">Three Months Ended </font></td>
    <td width="199" align="center" colspan="4" height="16"><font size="2">Six Months Ended</font></td>
  </tr>
  <tr>
    <td width="205" height="17"></td>
    <td width="206" align="center" height="17" colspan="4">June, 30</td>
    <td width="199" align="center" colspan="4" height="17">June, 30</td>
  </tr>
  <tr>
    <td width="205" height="17"></td>
    <td width="17" align="center" height="17"></td>
    <td width="93" align="center" height="17">2001</td>
    <td width="12" align="center" height="17"></td>
    <td width="84" align="center" height="17">2000</td>
    <td width="17" align="center" height="17"></td>
    <td width="83" align="center" height="17">2001</td>
    <td width="16" align="center" height="17"></td>
    <td width="83" align="center" height="17">2000</td>
  </tr>
  <tr>
    <td width="205" height="32">Loss before<br>
    &nbsp;&nbsp;&nbsp;&nbsp; extraordinary gain</td>
    <td width="17" align="right" valign="bottom" height="32">$</td>
    <td width="93" align="right" valign="bottom" height="32">(1,484)
    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </td>
    <td width="12" align="right" valign="bottom" height="32">$</td>
    <td width="84" align="right" valign="bottom" height="32">(3,343)
    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </td>
    <td width="17" align="right" valign="bottom" height="32">$</td>
    <td width="83" align="right" valign="bottom" height="32">(5,563)
    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </td>
    <td width="16" align="right" valign="bottom" height="32">$</td>
    <td width="83" align="right" valign="bottom" height="32">(3,427)
    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </td>
  </tr>
  <tr>
    <td width="205" height="17">Extraordinary gain</td>
    <td width="17" align="right" valign="bottom" height="17">$</td>
    <td width="93" align="right" valign="bottom" height="17">--
    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </td>
    <td width="12" align="right" valign="bottom" height="17">$</td>
    <td width="84" align="right" valign="bottom" height="17">--
    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </td>
    <td width="17" align="right" valign="bottom" height="17">$</td>
    <td width="83" align="right" valign="bottom" height="17">--
    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </td>
    <td width="16" align="right" valign="bottom" height="17">$</td>
    <td width="83" align="right" valign="bottom" height="17">1,242
    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </td>
  </tr>
  <tr>
    <td width="205" height="17">Net Loss</td>
    <td width="17" align="right" valign="bottom" height="17">$</td>
    <td width="93" align="right" valign="bottom" height="17">(1,484)
    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </td>
    <td width="12" align="right" valign="bottom" height="17">$</td>
    <td width="84" align="right" valign="bottom" height="17">(3,343)
    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </td>
    <td width="17" align="right" valign="bottom" height="17">$</td>
    <td width="83" align="right" valign="bottom" height="17">(5,563)
    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </td>
    <td width="16" align="right" valign="bottom" height="17">$</td>
    <td width="83" align="right" valign="bottom" height="17">(2,185)
    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </td>
  </tr>
  <tr>
    <td width="205" height="32">Loss per share before<br>
    &nbsp;&nbsp;&nbsp;&nbsp; extraordinary gain:</td>
    <td width="17" align="right" valign="bottom" height="32"></td>
    <td width="93" align="right" valign="bottom" height="32"></td>
    <td width="12" align="right" valign="bottom" height="32"></td>
    <td width="84" align="right" valign="bottom" height="32"></td>
    <td width="17" align="right" valign="bottom" height="32"></td>
    <td width="83" align="right" valign="bottom" height="32"></td>
    <td width="16" align="right" valign="bottom" height="32"></td>
    <td width="83" align="right" valign="bottom" height="32"></td>
  </tr>
  <tr>
    <td width="205" height="17">&nbsp;&nbsp; Basic</td>
    <td width="17" align="right" valign="bottom" height="17">$</td>
    <td width="93" align="right" valign="bottom" height="17">(0.44)&nbsp;&nbsp; (1)</td>
    <td width="12" align="right" valign="bottom" height="17">$</td>
    <td width="84" align="right" valign="bottom" height="17">(1.00)&nbsp;&nbsp; (1)</td>
    <td width="17" align="right" valign="bottom" height="17">$</td>
    <td width="83" align="right" valign="bottom" height="17">(1.66)&nbsp;&nbsp; (1)</td>
    <td width="16" align="right" valign="bottom" height="17">$</td>
    <td width="83" align="right" valign="bottom" height="17">(1.02)&nbsp;&nbsp; (2)</td>
  </tr>
  <tr>
    <td width="205" height="17">&nbsp; Diluted</td>
    <td width="17" align="right" valign="bottom" height="17">$</td>
    <td width="93" align="right" valign="bottom" height="17">(0.44)&nbsp;&nbsp; (1)</td>
    <td width="12" align="right" valign="bottom" height="17">$</td>
    <td width="84" align="right" valign="bottom" height="17">(1.00)&nbsp;&nbsp; (1)</td>
    <td width="17" align="right" valign="bottom" height="17">$</td>
    <td width="83" align="right" valign="bottom" height="17">(1.66)&nbsp;&nbsp; (1)</td>
    <td width="16" align="right" valign="bottom" height="17">$</td>
    <td width="83" align="right" valign="bottom" height="17">(1.02)&nbsp;&nbsp; (2)</td>
  </tr>
  <tr>
    <td width="205" height="17">Net loff per share:</td>
    <td width="17" align="right" valign="bottom" height="17"></td>
    <td width="93" align="right" valign="bottom" height="17"></td>
    <td width="12" align="right" valign="bottom" height="17"></td>
    <td width="84" align="right" valign="bottom" height="17"></td>
    <td width="17" align="right" valign="bottom" height="17"></td>
    <td width="83" align="right" valign="bottom" height="17"></td>
    <td width="16" align="right" valign="bottom" height="17"></td>
    <td width="83" align="right" valign="bottom" height="17"></td>
  </tr>
  <tr>
    <td width="205" height="17">&nbsp;&nbsp; Basic&nbsp; </td>
    <td width="17" align="right" valign="bottom" height="17">$</td>
    <td width="93" align="right" valign="bottom" height="17">(0.44)&nbsp;&nbsp; (1)</td>
    <td width="12" align="right" valign="bottom" height="17">$</td>
    <td width="84" align="right" valign="bottom" height="17">(1.00)&nbsp;&nbsp; (1)</td>
    <td width="17" align="right" valign="bottom" height="17">$</td>
    <td width="83" align="right" valign="bottom" height="17">(1.66)&nbsp;&nbsp; (1)</td>
    <td width="16" align="right" valign="bottom" height="17">$</td>
    <td width="83" align="right" valign="bottom" height="17">(0.65)&nbsp;&nbsp; (2)</td>
  </tr>
  <tr>
    <td width="205" height="17">&nbsp;&nbsp; Diluted</td>
    <td width="17" align="right" valign="bottom" height="17">$</td>
    <td width="93" align="right" valign="bottom" height="17">(0.44)&nbsp;&nbsp; (1)</td>
    <td width="12" align="right" valign="bottom" height="17">$</td>
    <td width="84" align="right" valign="bottom" height="17">(1.00)&nbsp;&nbsp; (1)</td>
    <td width="17" align="right" valign="bottom" height="17">$</td>
    <td width="83" align="right" valign="bottom" height="17">(1.66)&nbsp;&nbsp; (1)</td>
    <td width="16" align="right" valign="bottom" height="17">$</td>
    <td width="83" align="right" valign="bottom" height="17">(0.65)&nbsp;&nbsp; (2)</td>
  </tr>
</table>
</div>

<p ALIGN="JUSTIFY"><font size="1">(1)&nbsp; Based on 3,352,624 weighted-average shares of
common stock outstanding.<br>
(2)&nbsp; Based on 3,352,443 weighted-average shares of common stock outstanding.</font></p>

<p ALIGN="JUSTIFY" style="line-height: 30px"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Company reported a net loss of $1.5 million for the three months ended June 30, 2001
compared to a net loss of $3.3 million for the three months ended June 30, 2000. The loss
resulted primarily from a $729,000 loss on securities for the three months ended June 30,
2001, compared to a $3.3 million net loss on securities for the same period in 2000. </font></p>

<p ALIGN="JUSTIFY" style="line-height: 30px"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Company reported a net loss of $5.6 million for the six months ended June 30, 2001
compared to a net loss of $2.2 million for the six months ended June 30, 2000. The loss
resulted primarily from a $4.1 million loss on securities for the six months ended June
30, 2001, compared to a $2.8 million net loss on securities for the same period in 2000.
Results for the six-month period ended June 30, 2000 included the positive effects of (i)
a $1.2 million extraordinary gain, net of income taxes of $822,000, related to the
Company's wholly-owned viatical settlement subsidiary, which was reported in the first
quarter of 2000 and (ii) $1.1 million of interest income recognized in connection with a
warrant received during the first quarter of 2000.</font></p>

<p ALIGN="JUSTIFY" style="line-height: 30px"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Point West Capital is a specialty financial services company. Further information
regarding the Company, its results of operations and the other matters discussed in this
press release is contained in the Company's Form 10-QSB for the quarterly period ended
June 30, 2001 filed with the Securities and Exchange Commission on August 14, 2001.</font></p>

<p ALIGN="JUSTIFY"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The following is
summary balance sheet information as of June 30, 2001:</font></p>

<p ALIGN="JUSTIFY"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
<div align="center"><center>

<table border="0" cellpadding="0" cellspacing="0" width="457" style="font-size: 10pt">
  <tr>
    <td width="367"><font size="2">Cash and cash
    equivalents......................................................................</font></td>
    <td width="90"><p align="right"><font size="2">$1,838,184</font></td>
  </tr>
  <tr>
    <td width="367"></td>
    <td width="90"></td>
  </tr>
  <tr>
    <td width="367"><font size="2">Restricted
    cash...........................................................................................</font></td>
    <td width="90" align="right"><font size="2">$2,572,385</font></td>
  </tr>
  <tr>
    <td width="367"></td>
    <td width="90" align="right"></td>
  </tr>
  <tr>
    <td width="367"><font size="2">Investment Securities
    --available-for-sale...............................................</font></td>
    <td width="90" align="right"><font size="2">$126,794</font></td>
  </tr>
  <tr>
    <td width="367"></td>
    <td width="90" align="right"></td>
  </tr>
  <tr>
    <td width="367"><font size="2">Loans receivable, net of unearned income of
    ........................................</font></td>
    <td width="90" align="right"></td>
  </tr>
  <tr>
    <td width="367"></td>
    <td width="90" align="right"></td>
  </tr>
  <tr>
    <td width="367"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $591,847 and net of an
    allowance for loan .......................................</font></td>
    <td width="90" align="right"></td>
  </tr>
  <tr>
    <td width="367"></td>
    <td width="90" align="right"></td>
  </tr>
  <tr>
    <td width="367"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; losses of
    $190,000.................................................................................</font></td>
    <td width="90" align="right"><p ALIGN="right"><font size="2">$36,614,135</font></td>
  </tr>
  <tr>
    <td width="367"></td>
    <td width="90" align="right"></td>
  </tr>
  <tr>
    <td width="367"><font size="2">Purchased life insurance
    policies..............................................................</font></td>
    <td width="90" align="right"><font size="2">$28,807,889</font></td>
  </tr>
  <tr>
    <td width="367"></td>
    <td width="90" align="right"></td>
  </tr>
  <tr>
    <td width="367"><font size="2">Non-marketable
    securities..........................................................................</font></td>
    <td width="90" align="right"><font size="2">$6,006,221</font></td>
  </tr>
  <tr>
    <td width="367"></td>
    <td width="90" align="right"></td>
  </tr>
  <tr>
    <td width="367"><font size="2">Total
    assets..................................................................................................</font></td>
    <td width="90" align="right"><font size="2">$78,410,597</font></td>
  </tr>
  <tr>
    <td width="367"></td>
    <td width="90" align="right"></td>
  </tr>
  <tr>
    <td width="367"><font size="2">Revolving
    certificates.................................................................................</font></td>
    <td width="90" align="right"><font size="2">$8,982,346</font></td>
  </tr>
  <tr>
    <td width="367"></td>
    <td width="90" align="right"></td>
  </tr>
  <tr>
    <td width="367"><font size="2">Term
    certificates...........................................................................................</font></td>
    <td width="90" align="right"><font size="2">$23,532,229</font></td>
  </tr>
  <tr>
    <td width="367"></td>
    <td width="90" align="right"></td>
  </tr>
  <tr>
    <td width="367"><font size="2">Securitized notes
    payable...........................................................................</font></td>
    <td width="90" align="right"><font size="2">$34,341,464</font></td>
  </tr>
  <tr>
    <td width="367"></td>
    <td width="90" align="right"></td>
  </tr>
  <tr>
    <td width="367"><font size="2">Debenture
    payable.......................................................................................</font></td>
    <td width="90" align="right"><font size="2">$6,500,000</font></td>
  </tr>
  <tr>
    <td width="367"></td>
    <td width="90" align="right"></td>
  </tr>
  <tr>
    <td width="367"><font size="2">Total
    liabilities..............................................................................................</font></td>
    <td width="90" align="right"><font size="2">$74,173,723</font></td>
  </tr>
  <tr>
    <td width="367"></td>
    <td width="90" align="right"></td>
  </tr>
  <tr>
    <td width="367"><font size="2">Accumulated comprehensive loss, net of
    tax.........................................</font></td>
    <td width="90" align="right"><font size="2">$(80,774)</font></td>
  </tr>
  <tr>
    <td width="367"></td>
    <td width="90" align="right"></td>
  </tr>
  <tr>
    <td width="367"><font size="2">Accumulated
    deficit....................................................................................</font></td>
    <td width="90" align="right"><font size="2">$(22,943,920)</font></td>
  </tr>
  <tr>
    <td width="367"></td>
    <td width="90" align="right"></td>
  </tr>
  <tr>
    <td width="367"><font size="2">Total stockholders&#146;
    equity........................................................................</font></td>
    <td width="90" align="right"><font size="2">$4,236,874</font></td>
  </tr>
  <tr>
    <td width="367"></td>
    <td width="90" align="right"></td>
  </tr>
</table>
</center></div>

<blockquote>
  <blockquote>
  </blockquote>
</blockquote>

<p ALIGN="JUSTIFY"><font size="2">(KEYWORD CALIFORNIA AND INDUSTRY KEYWORD: SPECIALTY
FINANCE EARNINGS). </font></p>

<p ALIGN="JUSTIFY"><font size="2">CONTACTS: POINT WEST CAPITAL CORPORATION, SAN FRANCISCO.<br>
Alan B. Perper, 415/394-9467</font></p>
</body>
</html>
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Press Release dated 8/15/01
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
August 15, 2001
Date of Report (Date of earliest event reported)
POINT WEST CAPITAL CORPORATION
( Exact name of registrant as specified in its charter)
Delaware
0-27736
94-3165263
(State or other  jurisdiction of
    incorporation)
(Commission File Number)
(IRS Employer Identification No.)
1700 Montgomery Street, Suite 250, San Francisco, CA
94111
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(415)394-9467
Item 5. Other Events
On
August 15, 2001 Point West Capital Corporation  issued a press release announcing
Second quarter results and finaical condition.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
(c)    Exhibits
99.1 Text of Press Release
dated August 15,  2001.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this Report to be signed on its behalf by the undersigned thereunto duly
authorized.
POINT WEST CAPITAL CORPORATION
By:  /s/ John Ward Rotter
John Ward Rotter
Chief Executive
    Officer
Date: August 16, 2001
EXHIBIT INDEX
Exhibit
Number
Document
    Description
Sequential
    Page
Number
99.1
Text of Press
    Release dated August 15,  2001
5
FOR IMMEDIATE RELEASE
August 15, 2001
POINT WEST CAPITAL CORPORATION
ANNOUNCES SECOND QUARTER RESULTS
AND FINANCIAL CONDITION
SAN FRANCISCO --(August 15, 2001) Point West Capital Corporation (OTC Symbol: PWCC.OB)
today reported the following:
(Dollars in thousands, except per share amounts)
Three Months Ended
Six Months Ended
June, 30
June, 30
2001
2000
2001
2000
Loss before
extraordinary gain
$
(1,484)
$
(3,343)
$
(5,563)
$
(3,427)
Extraordinary gain
$
--
$
--
$
--
$
1,242
Net Loss
$
(1,484)
$
(3,343)
$
(5,563)
$
(2,185)
Loss per share before
extraordinary gain:
Basic
$
(0.44)   (1)
$
(1.00)   (1)
$
(1.66)   (1)
$
(1.02)   (2)
Diluted
$
(0.44)   (1)
$
(1.00)   (1)
$
(1.66)   (1)
$
(1.02)   (2)
Net loff per share:
Basic
$
(0.44)   (1)
$
(1.00)   (1)
$
(1.66)   (1)
$
(0.65)   (2)
Diluted
$
(0.44)   (1)
$
(1.00)   (1)
$
(1.66)   (1)
$
(0.65)   (2)
(1)  Based on 3,352,624 weighted-average shares of
common stock outstanding.
(2)  Based on 3,352,443 weighted-average shares of common stock outstanding.
The Company reported a net loss of $1.5 million for the three months ended June 30, 2001
compared to a net loss of $3.3 million for the three months ended June 30, 2000. The loss
resulted primarily from a $729,000 loss on securities for the three months ended June 30,
2001, compared to a $3.3 million net loss on securities for the same period in 2000.
The Company reported a net loss of $5.6 million for the six months ended June 30, 2001
compared to a net loss of $2.2 million for the six months ended June 30, 2000. The loss
resulted primarily from a $4.1 million loss on securities for the six months ended June
30, 2001, compared to a $2.8 million net loss on securities for the same period in 2000.
Results for the six-month period ended June 30, 2000 included the positive effects of (i)
a $1.2 million extraordinary gain, net of income taxes of $822,000, related to the
Company's wholly-owned viatical settlement subsidiary, which was reported in the first
quarter of 2000 and (ii) $1.1 million of interest income recognized in connection with a
warrant received during the first quarter of 2000.
Point West Capital is a specialty financial services company. Further information
regarding the Company, its results of operations and the other matters discussed in this
press release is contained in the Company's Form 10-QSB for the quarterly period ended
June 30, 2001 filed with the Securities and Exchange Commission on August 14, 2001.
The following is
summary balance sheet information as of June 30, 2001:
Cash and cash
    equivalents......................................................................
$1,838,184
Restricted
    cash...........................................................................................
$2,572,385
Investment Securities
    --available-for-sale...............................................
$126,794
Loans receivable, net of unearned income of
    ........................................
$591,847 and net of an
    allowance for loan .......................................
losses of
    $190,000.................................................................................
$36,614,135
Purchased life insurance
    policies..............................................................
$28,807,889
Non-marketable
    securities..........................................................................
$6,006,221
Total
    assets..................................................................................................
$78,410,597
Revolving
    certificates.................................................................................
$8,982,346
Term
    certificates...........................................................................................
$23,532,229
Securitized notes
    payable...........................................................................
$34,341,464
Debenture
    payable.......................................................................................
$6,500,000
Total
    liabilities..............................................................................................
$74,173,723
Accumulated comprehensive loss, net of
    tax.........................................
$(80,774)
Accumulated
    deficit....................................................................................
$(22,943,920)
Total stockholders'
    equity........................................................................
$4,236,874
(KEYWORD CALIFORNIA AND INDUSTRY KEYWORD: SPECIALTY
FINANCE EARNINGS).
CONTACTS: POINT WEST CAPITAL CORPORATION, SAN FRANCISCO.
Alan B. Perper, 415/394-9467