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<TITLE>Press Release 05/14/01</TITLE>
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<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">May 14, 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
May 14,&nbsp; 2001 Point West Capital Corporation&nbsp; issued a press release announcing
first quarter results and finaical condition and appointment of new Chief Financial
Officer.</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 May 14,&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: May 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 May 14,&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>&nbsp;</p>
<font face="Courier">

<p ALIGN="RIGHT">FOR IMMEDIATE RELEASE <br>
May 14, 2001</p>
<b>

<p>&nbsp;</p>

<p ALIGN="CENTER">POINT WEST CAPITAL CORPORATION <br>
ANNOUNCES FIRST QUARTER RESULTS <br>
AND FINANCIAL CONDITION<br>
AND APPOINTMENT OF NEW CHIEF FINANCIAL OFFICER </b></p>

<p ALIGN="JUSTIFY" style="line-height: 40px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</p>

<p ALIGN="JUSTIFY" style="line-height: 40px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
SAN FRANCISCO (May 14, 2001) Point West Capital Corporation (OTC Symbol: PWCC.OB) today
reported the following:</p>

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

<table border="0" width="798">
  <tr>
    <td width="227" height="1"></td>
    <td width="2"></td>
    <td width="201" colspan="4"><p align="center">Three Months Ended</td>
  </tr>
  <tr>
    <td width="227" height="1"></td>
    <td width="2"></td>
    <td width="201" colspan="4"><p align="center">March 31, </td>
  </tr>
  <tr>
    <td width="227" height="1"></td>
    <td width="2"></td>
    <td width="101" colspan="2"><p align="center">2000</td>
    <td width="100" colspan="2"><p align="center">2001</td>
  </tr>
  <tr>
    <td width="227" height="1" valign="bottom">Loss before<br>
    &nbsp;&nbsp;&nbsp;&nbsp; extraordinary gain</td>
    <td width="2" valign="bottom">$</td>
    <td width="100" valign="bottom" align="center">(4,079)</td>
    <td width="2" valign="bottom" colspan="2">$</td>
    <td width="100" valign="bottom" align="center">(84)</td>
  </tr>
  <tr>
    <td width="227" height="1">Extraordinary gain</td>
    <td width="2">$</td>
    <td width="100" align="center">-</td>
    <td width="2" colspan="2">$</td>
    <td width="100" align="center">1,242</td>
  </tr>
  <tr>
    <td width="227" height="1">Net (loss) income</td>
    <td width="2">$</td>
    <td width="100" align="center">(4,079)</td>
    <td width="2" colspan="2">$</td>
    <td width="100" align="center">1,158</td>
  </tr>
  <tr>
    <td width="227" height="1">Loss per share before<br>
    &nbsp;&nbsp;&nbsp;&nbsp; extraordinary gain:</td>
    <td width="2"></td>
    <td width="100" align="center"></td>
    <td width="2" colspan="2"></td>
    <td width="100" align="center"></td>
  </tr>
  <tr>
    <td width="227" height="1"><blockquote>
      <p>Basic</p>
    </blockquote>
    </td>
    <td width="2">$</td>
    <td width="100" align="center">(1.22) <font face="Courier" size="2">(1)</font></td>
    <td width="2" colspan="2">$</td>
    <td width="100" align="center">(0.02) <font face="Courier" size="2">(2)</font></td>
  </tr>
  <tr>
    <td width="227" height="1"><blockquote>
      <p>Diluted</p>
    </blockquote>
    </td>
    <td width="2">$</td>
    <td width="100" align="center">(1.22) <font face="Courier" size="2">(1)</font></td>
    <td width="2" colspan="2">$</td>
    <td width="100" align="center">(0.02) <font face="Courier" size="2">(2)</font></td>
  </tr>
  <tr>
    <td width="227" height="1" valign="bottom">Net (loss) income per<br>
    &nbsp;&nbsp;&nbsp;&nbsp; share:</td>
    <td width="2" valign="bottom"></td>
    <td width="100" valign="bottom" align="center"></td>
    <td width="2" valign="bottom" colspan="2"></td>
    <td width="100" valign="bottom" align="center"></td>
  </tr>
  <tr>
    <td width="227" height="1"><blockquote>
      <p>Basic</p>
    </blockquote>
    </td>
    <td width="2">$</td>
    <td width="100" align="center">(1.22) <font face="Courier" size="2">(1)</font></td>
    <td width="2" colspan="2">$</td>
    <td width="100" align="center">0.35 <font face="Courier" size="2">(2)</font></td>
  </tr>
  <tr>
    <td width="227" height="1"><blockquote>
      <p>Diluted</p>
    </blockquote>
    </td>
    <td width="2">$</td>
    <td width="100" align="center">(1.22) <font face="Courier" size="2">(1)</font></td>
    <td width="2" colspan="2">$</td>
    <td width="100" align="center">0.31 <font face="Courier" size="2">(3)</font></td>
  </tr>
</TABLE>
</div>

<p>&nbsp;</p>
<font face="Courier" size="2"><div align="left">

<table border="0" width="100%">
  <tr>
    <td width="4%">(1)</td>
    <td width="96%">Based on 3,352,624 weighted-average shares of common stock outstanding.</td>
  </tr>
  <tr>
    <td width="4%">(2)</td>
    <td width="96%"><p ALIGN="JUSTIFY">Based on 3,352,261 weighted-average shares of common
    stock outstanding.</td>
  </tr>
  <tr>
    <td width="4%">(3)</td>
    <td width="96%">Based on 3,751,463 weighted-average shares of common stock outstanding.</td>
  </tr>
</TABLE>
</div>

<blockquote>
  <p ALIGN="JUSTIFY">&nbsp;</p>
  <p ALIGN="JUSTIFY">&nbsp;</p>
  </font>
</blockquote>

<p ALIGN="JUSTIFY" style="line-height: 40px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Company reported a net loss of $4.1 million for the three months ended March 31, 2001
compared to net income of $1.2 million for the three months ended March 31, 2000. The loss
resulted primarily from a $3.4 million loss on securities for the three months ended March
31, 2001, compared to a $418,000 net gain on securities for the same period in 2000.
Results for the three-month period ended March 31, 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 and (ii) $1.1 million of interest
income recognized in connection with a warrant received during the first quarter of 2000. </p>
<font FACE="Courier New">

<p ALIGN="JUSTIFY" style="line-height: 40px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Company also announced the appointment of Joanna L. Zesiger as Chief Financial
Officer. Mrs. Zesiger has been with the Company for 7 years and has served as Treasurer
since 1999. Prior to serving as Treasurer, Mrs. Zesiger was the Company&#146;s Controller.
Before joining Point West Capital, Mrs. Zesiger worked as a Senior Research Associate for
Kidder, Peabody. Mrs. Zesiger is a California native and received her bachelor&#146;s
degree from Babson College in 1992 and her CFA designation in 2000. </p>
</font>

<p ALIGN="JUSTIFY" style="line-height: 40px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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
March 31, 2001 filed with the Securities and Exchange Commission on May 11, 2001.</p>

<p ALIGN="JUSTIFY">The following is summary balance sheet information as of March 31,
2001:</p>

<p ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</p>
<div align="left">

<table border="0" width="82%" style="margin-left: 170px">
  <tr>
    <td width="50%">Cash and cash equivalents</td>
    <td width="2%" align="right">$</td>
    <td width="5%" align="right"><p align="right">2,494,600</td>
  </tr>
  <tr>
    <td width="50%">Restricted cash</td>
    <td width="2%" align="right">$</td>
    <td width="5%" align="right">2,547,494</td>
  </tr>
  <tr>
    <td width="50%">Investment Securities&nbsp; available-for-sale</td>
    <td width="2%" align="right">$</td>
    <td width="5%" align="right">75,053</td>
  </tr>
  <tr>
    <td width="50%">Loans receivable, net of unearned income of </td>
    <td width="2%" align="right"></td>
    <td width="5%" align="right"></td>
  </tr>
  <tr>
    <td width="50%"><blockquote>
      <p>$599,000 and net of an allowance for loan </p>
    </blockquote>
    </td>
    <td width="2%" align="right"></td>
    <td width="5%" align="right"></td>
  </tr>
  <tr>
    <td width="50%" align="top"><blockquote>
      <p>losses of $190,000</p>
    </blockquote>
    </td>
    <td width="2%" align="right">$</td>
    <td width="5%" align="right">36,833,131</td>
  </tr>
  <tr>
    <td width="50%">Purchased life insurance policies</td>
    <td width="2%" align="right">$</td>
    <td width="5%" align="right" valign="top"><p ALIGN="right">29,448,620</td>
  </tr>
  <tr>
    <td width="50%">Non-marketable securities</td>
    <td width="2%" align="right">$</td>
    <td width="5%" align="right">6,695,788</td>
  </tr>
  <tr>
    <td width="50%">Total assets</td>
    <td width="2%" align="right">$</td>
    <td width="5%" align="right">80,995,130</td>
  </tr>
  <tr>
    <td width="50%"><p ALIGN="JUSTIFY">Revolving certificates</td>
    <td width="2%" align="right">$</td>
    <td width="5%" align="right">9,059,966</td>
  </tr>
  <tr>
    <td width="50%">Term certificates </td>
    <td width="2%" align="right">$</td>
    <td width="5%" align="right">23,711,908</td>
  </tr>
  <tr>
    <td width="50%">Securitized notes payable </td>
    <td width="2%" align="right">$</td>
    <td width="5%" align="right">35,096,982</td>
  </tr>
  <tr>
    <td width="50%">Debenture payable</td>
    <td width="2%" align="right">$</td>
    <td width="5%" align="right">6,500,000</td>
  </tr>
  <tr>
    <td width="50%">Total liabilities </td>
    <td width="2%" align="right">$</td>
    <td width="5%" align="right">75,326,222</td>
  </tr>
  <tr>
    <td width="50%">Accumulated comprehensive loss, net of tax benefit</td>
    <td width="2%" align="right">$</td>
    <td width="5%" align="right">(132,697)</td>
  </tr>
  <tr>
    <td width="50%">Accumulated deficit</td>
    <td width="2%" align="right">$</td>
    <td width="5%" align="right">(21,459,963)</td>
  </tr>
  <tr>
    <td width="50%">Total stockholders&#146; equity</td>
    <td width="2%" align="right">$</td>
    <td width="5%" align="right">5,668,908</td>
  </tr>
</TABLE>
</div>

<blockquote>
  <blockquote>
    <p ALIGN="JUSTIFY">&nbsp;</p>
  </blockquote>
</blockquote>

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

<p ALIGN="JUSTIFY">CONTACTS:&nbsp;&nbsp;&nbsp;&nbsp; POINT WEST CAPITAL CORPORATION, SAN
FRANCISCO. <br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alan B.
Perper, 415/394-9467 </p>
</font>

<p><font face="Courier">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
</body>
</HTML>
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Press Release 05/14/01
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
May 14, 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
May 14,  2001 Point West Capital Corporation  issued a press release announcing
first quarter results and finaical condition and appointment of new Chief Financial
Officer.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
(c)    Exhibits
99.1 Text of Press Release
dated May 14,  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: May 16, 2001
EXHIBIT INDEX
Exhibit
Number
Document
    Description
Sequential
    Page
Number
99.1
Text of Press
    Release dated May 14,  2001
5
FOR IMMEDIATE RELEASE
May 14, 2001
POINT WEST CAPITAL CORPORATION
ANNOUNCES FIRST QUARTER RESULTS
AND FINANCIAL CONDITION
AND APPOINTMENT OF NEW CHIEF FINANCIAL OFFICER
SAN FRANCISCO (May 14, 2001) Point West Capital Corporation (OTC Symbol: PWCC.OB) today
reported the following:
(Dollars in thousands, except per share amounts)
Three Months Ended
March 31,
2000
2001
Loss before
extraordinary gain
$
(4,079)
$
(84)
Extraordinary gain
$
-
$
1,242
Net (loss) income
$
(4,079)
$
1,158
Loss per share before
extraordinary gain:
Basic
$
(1.22)
(1)
$
(0.02)
(2)
Diluted
$
(1.22)
(1)
$
(0.02)
(2)
Net (loss) income per
share:
Basic
$
(1.22)
(1)
$
0.35
(2)
Diluted
$
(1.22)
(1)
$
0.31
(3)
(1)
Based on 3,352,624 weighted-average shares of common stock outstanding.
(2)
Based on 3,352,261 weighted-average shares of common
    stock outstanding.
(3)
Based on 3,751,463 weighted-average shares of common stock outstanding.
The Company reported a net loss of $4.1 million for the three months ended March 31, 2001
compared to net income of $1.2 million for the three months ended March 31, 2000. The loss
resulted primarily from a $3.4 million loss on securities for the three months ended March
31, 2001, compared to a $418,000 net gain on securities for the same period in 2000.
Results for the three-month period ended March 31, 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 and (ii) $1.1 million of interest
income recognized in connection with a warrant received during the first quarter of 2000.
The Company also announced the appointment of Joanna L. Zesiger as Chief Financial
Officer. Mrs. Zesiger has been with the Company for 7 years and has served as Treasurer
since 1999. Prior to serving as Treasurer, Mrs. Zesiger was the Company's Controller.
Before joining Point West Capital, Mrs. Zesiger worked as a Senior Research Associate for
Kidder, Peabody. Mrs. Zesiger is a California native and received her bachelor's
degree from Babson College in 1992 and her CFA designation in 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
March 31, 2001 filed with the Securities and Exchange Commission on May 11, 2001.
The following is summary balance sheet information as of March 31,
2001:
Cash and cash equivalents
$
2,494,600
Restricted cash
$
2,547,494
Investment Securities  available-for-sale
$
75,053
Loans receivable, net of unearned income of
$599,000 and net of an allowance for loan
losses of $190,000
$
36,833,131
Purchased life insurance policies
$
29,448,620
Non-marketable securities
$
6,695,788
Total assets
$
80,995,130
Revolving certificates
$
9,059,966
Term certificates
$
23,711,908
Securitized notes payable
$
35,096,982
Debenture payable
$
6,500,000
Total liabilities
$
75,326,222
Accumulated comprehensive loss, net of tax benefit
$
(132,697)
Accumulated deficit
$
(21,459,963)
Total stockholders' equity
$
5,668,908
(KEYWORD CALIFORNIA AND INDUSTRY KEYWORD: SPECIALTY FINANCE EARNINGS).
CONTACTS:     POINT WEST CAPITAL CORPORATION, SAN
FRANCISCO.
Alan B.
Perper, 415/394-9467