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PLM EQUIPMENT GROWTH FUNDS ANNOUNCE QUARTERLY RESULTS

 PLM EQUIPMENT GROWTH FUNDS ANNOUNCE QUARTERLY RESULTS
 SAN FRANCISCO, Aug. 13 /PRNewswire/ -- PLM Equipment Growth Fund (AMEX: GFX), PLM Equipment Growth Fund II (AMEX; GFY) and PLM Equipment Growth Fund III (AMEX: GFZ), California Limited partnerships that own and lease diversified portfolios of transportation equipment, today announced results for the quarter ended June 30, 1992.
 PLM Equipment Growth Fund reported total revenue of $7.4 million for the quarter end June 30, 1992, compared to $9.1 million in 1991. Net loss for the quarter was $2.4 million (including a $2.5 million non-cash book adjustment to equipment value, primarily for a narrow body commercial aircraft), compared to net income of $348,000 in 1991. Cash distributions payable per depositary unit for the quarter were $0.575, equal to $0.575 a year ago.
 PLM Equipment Growth Fund reported total revenue of $14.6 million for the six months ended June 30, 1992, compared to $19.4 million in 1991. Net loss for the six months was $2.7 million (including a $2.5 million non-cash book adjustment to equipment value), compared to net income of $2.7 million (including a $1.3 million gain on equipment sales) in 1991. Cash distributions payable per depositary unit for the six months were $1.15 equal to $1.15 a year ago.
 The following table sets forth a summary of selected operating statistics for the quarter ended June 30:
 CERTAIN OPERATING STATISTICS (i)
 Quarter Ended Six Months Ended
 June 30, June 30,
 1992 1991 1992 1991
 Revenue $7,374 $9,093 $14,595 $19,407
 Net Income (Loss) $(2,388) $348 $(2,701) $2,685
 Distributions Payable $3,452 $3,470 $6,911 $6,940
 Depositary Units
 Outstanding 5,943 5,973 5,943 5,973
 Distributions Payable
 per Depositary Unit $0.575 $0.575 $1.15 $1.15
 Total Equipment
 Portfolio (ii) $146,247 $149,501 $146,247 $149,501 (i) Figures are in thousands, except per unit data. (ii) Total acquisition cost including capitalized repairs.
 PLM Equipment Growth Fund is a $120 million income-oriented limited partnership formed in May, 1986 to acquire, manage and lease a diversified portfolio of used transportation equipment. The fund began trading on the American Stock Exchange June 1, 1989.
 PLM Equipment Growth Fund II reported total revenue of $8.5 million for the quarter ended June 30, 1992, compared to $8.9 million in 1991. Net loss for the quarter was $2.2 million (including a $227,000 loss on disposition of equipment and a $948,000 non-cash book adjustment to equipment value), compared to net loss of $894,485 in 1991. Cash distributions payable per depositary unit for the quarter were $0.55, equal to $0.55 a year ago.
 PLM Equipment Growth Fund II reported total revenue of $17.4 million for the six months ended June 30, 1992, compared to $20.4 million in 1991. Net loss for the six months was $2.7 million (including a $235,000 loss on disposition of equipment and a $948,000 non-cash book adjustment to equipment value), compared to net income of $334,000 (including a $1.1 million gain on equipment dispositions) in 1991. Cash distributions payable per depositary unit for the six months were $1.10, equal to $1.10 a year ago.
 The following table sets forth a summary of certain operating statistics for the quarter ended June 30:
 CERTAIN OPERATING STATISTICS(i)
 Quarter Ended Six Months Ended
 June 30, June 30,
 1992 1991 1992 1991
 Revenue $ 8,537 $ 8,924 $ 17,357 $ 20,409
 Net Income(Loss) (2,209) (894) (2,716) 334
 Distributions
 Payable 4,342 4,342 8,684 8,684
 Depositary Units
 Outstanding 7,500 7,500 7,500 7,500
 Distributions Payable
 per Depository
 Unit .55 .55 1.10 1.10
 Total Equipment
 Portfolio(ii) 167,270 177,201 167,270 177,201 (i) Figures are in thousands, except per unit data. (ii) Total acquisition cost including capitalized repairs.
 PLM Equipment Growth Fund II is a $150 million income-oriented limited partnership formed in March, 1987 to acquire, manage and lease a diversified portfolio of used transportation equipment. The fund began trading on the American Stock Exchange Nov. 20, 1990.
 PLM Equipment Growth Fund III reported total revenue of $11 million for the quarter ended June 30, 1992, compared to $12.5 million in 1991. Net loss for the quarter was $807,000, compared to a loss of $452,000 in 1991. Cash distributions payable per depositary unit for the quarter were $0.525, equal to $0.525 a year ago.
 PLM Equipment Growth Fund III reported total revenue of $22.2 million for the six months ended June 30, 1992, compared to $25.2 million in 1991. Net loss for the six months was $911,000, compared to a net loss of $1.4 million in 1991. Cash distributions payable per depositary unit for the six months were $1.05, compared to $1.025 a year ago.
 The following table sets forth a summary of certain operating statistics for the quarter ended June 30:
 CERTAIN OPERATING STATISTICS(i)
 Quarter Ended Six Months Ended
 June 30, June 30,
 1992 1991 1992 1991
 Revenue $ 11,009 $ 12,541 $ 22,223 $ 25,221
 Net Income(Loss) (807) (452) (911) (1,421)
 Distributions
 Payable 5,526 5,263 11,053 10,789
 Depositary Units
 Outstanding 10,000 10,000 10,000 10,000
 Distributions Payable
 per Depositary
 Unit .525 .525 1.05 1.025
 Total Equipment
 Portfolio(ii) 212,784 217,990 212,784 217,990 (i) Figures are in thousands, except per unit data. (ii) Total acquisition cost including capitalized repairs.
 PLM Equipment Growth Fund III is a $200 million income-oriented limited partnership formed in March 1988 to acquire, manage and lease a diversified portfolio of used transportation equipment. The fund began trading on the American Stock Exchange August 16, 1991.
 PLM Financial Services Inc., a subsidiary of PLM International, is the general partner for PLM Equipment Growth Funds. PLM International is a transportation equipment leasing company specializing is the management of equipment on operating leases. The company is also the leading sponsor of syndicated investment programs organized to invest primarily in transportation equipment.
 -0- 8/13/92
 /CONTACT: Jeff Badger of PLM International, 415-905-7460/
 (GFX GFY GFZ) CO: PLM International ST: California IN: FIN SU: ERN


TB-RM -- SF021 -- 9788 08/13/92 18:04 EDT
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