-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 JnlhlqsGeIrfqghrTSBPIO/Q7zk4PUwZwKxZXFjc6t01lwnd0xrncW09b0oEk3mm
 I50vRAdwi3tmneArPUngAQ==

<SEC-DOCUMENT>0000912282-09-001011.txt : 20090709
<SEC-HEADER>0000912282-09-001011.hdr.sgml : 20090709
<ACCEPTANCE-DATETIME>20090709164810
ACCESSION NUMBER:		0000912282-09-001011
CONFORMED SUBMISSION TYPE:	D
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 504(b)(1) (not (i), (ii) or (iii))
FILED AS OF DATE:		20090709
DATE AS OF CHANGE:		20090709
EFFECTIVENESS DATE:		20090709

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WASHINGTON CAPITAL MANAGEMENT INC
		CENTRAL INDEX KEY:			0000928566
		IRS NUMBER:				911042342
		STATE OF INCORPORATION:			WA

	FILING VALUES:
		FORM TYPE:		D
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-92856-6L
		FILM NUMBER:		09937539

	BUSINESS ADDRESS:	
		STREET 1:		1301 FIFTH AVENUE STE 1500
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98101
		BUSINESS PHONE:		2063820825

	MAIL ADDRESS:	
		STREET 1:		1301 FIFTH AVENUE STE 1500
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98101
</SEC-HEADER>
<DOCUMENT>
<TYPE>D
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0401</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0000928566</cik>
        <entityName>WASHINGTON CAPITAL MANAGEMENT INC</entityName>
        <issuerAddress>
            <street1>1301 FIFTH AVENUE STE 1500</street1>
            <city>SEATTLE</city>
            <stateOrCountry>WA</stateOrCountry>
            <zipCode>98101</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>2063820825</issuerPhoneNumber>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <jurisdictionOfInc>WASHINGTON</jurisdictionOfInc>
        <entityType>Corporation</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Michael</firstName>
                <middleName>G.</middleName>
                <lastName>Russell</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1301 FIFTH AVENUE STE 1500</street1>
                <city>Seattle</city>
                <stateOrCountry>WA</stateOrCountry>
                <zipCode>98101</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Lorrie</firstName>
                <middleName>M.</middleName>
                <lastName>Reiterman</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1301 FIFTH AVENUE STE 1500</street1>
                <city>Seattle</city>
                <stateOrCountry>WA</stateOrCountry>
                <zipCode>98101</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Ernest</firstName>
                <middleName>L.</middleName>
                <lastName>Jahncke</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1301 FIFTH AVENUE STE 1500</street1>
                <city>Seattle</city>
                <stateOrCountry>WA</stateOrCountry>
                <zipCode>98101</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Randal</firstName>
                <middleName>G.</middleName>
                <lastName>Goodwin</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1301 FIFTH AVENUE STE 1500</street1>
                <city>Seattle</city>
                <stateOrCountry>WA</stateOrCountry>
                <zipCode>98101</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Richard</firstName>
                <middleName>W.</middleName>
                <lastName>Hardan</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>510 W. Riverside, Suite 309</street1>
                <city>Spokane</city>
                <stateOrCountry>WA</stateOrCountry>
                <zipCode>99201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Georges</firstName>
                <middleName>L.</middleName>
                <lastName>Bindschedler</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Gurtenweg 45,</street1>
                <city>Muri</city>
                <stateOrCountry>V8</stateOrCountry>
                <zipCode>3074</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Cory</firstName>
                <middleName>A.</middleName>
                <lastName>Carlson</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1301 FIFTH AVENUE STE 1500</street1>
                <city>Seattle</city>
                <stateOrCountry>WA</stateOrCountry>
                <zipCode>98101</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Investing</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>$5,000,001 - $25,000,000</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>04</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2009-06-30</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>0</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>153023</totalOfferingAmount>
            <totalAmountSold>153023</totalAmountSold>
            <totalRemaining>0</totalRemaining>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>true</hasNonAccreditedInvestors>
            <numberNonAccreditedInvestors>5</numberNonAccreditedInvestors>
            <totalNumberAlreadyInvested>13</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>WASHINGTON CAPITAL MANAGEMENT INC</issuerName>
                <signatureName>/s/ Lorrie M. Reiterman</signatureName>
                <nameOfSigner>Lorrie M. Reiterman</nameOfSigner>
                <signatureTitle>Chief Financial Officer</signatureTitle>
                <signatureDate>2009-07-07</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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