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PLM EQUIPMENT GROWTH FUNDS ANNOUNCE QUARTERLY RESULTS

 PLM EQUIPMENT GROWTH FUNDS ANNOUNCE QUARTERLY RESULTS
 SAN FRANCISCO, May 14 /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 March 31, 1992.
 PLM Equipment Growth Fund reported total revenue of $7.2 million for the quarter ended March 31, 1992, compared to $10.3 million (including a $1.2 million gain on equipment sales) in 1991. Net loss for the quarter was $312,831, compared to net income of $2.3 million in 1991. Cash distributions per depositary unit for the quarter were $0.575, compared to $0.575 a year ago.
 The following table sets forth a summary of selected operating statistics for the quarter ended March 31:
 PLM EQUIPMENT GROWTH FUND
 Certain Operating Statistics(A)
 Quarter Ended March 31,
 1992 1991
 Revenue $ 7,221 $ 10,314
 Net Income (Loss) $ (313) $ 2,337
 Distributions Payable $ 3,469 $ 3,475
 Depositary Units Outstanding 5,949 5,974
 Distributions Payable per Depositary
 Unit $ 0.575 $ 0.575
 Total Equipment Portfolio(B) $146,782 $148,607
 (A) Figures are in thousands, except per unit data.
 (B) 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 $8.8 million for the quarter ended March 31, 1992, compared to $11.5 million (including a $1.2 million gain on equipment sales) in 1991. Net loss for the quarter was $506,871, compared to net income of $1.2 million in 1991. Cash distributions per depositary unit for the quarter were $0.55, compared to $0.55 a year ago.
 The following table sets forth a summary of certain operating statistics for the quarter ended March 31:
 PLM EQUIPMENT GROWTH FUND II
 Certain Operating Statistics(A)
 Quarter Ended March 31,
 1992 1991
 Revenue $ 8,820 $ 11,485
 Net Income (Loss) $ (507) $ 1,229
 Distributions Payable $ 4,342 $ 4,342
 Depositary Units Outstanding 7,500 7,500
 Distributions Payable per Depositary Unit $ 0.55 $ 0.55
 Total Equipment Portfolio(B) $164,696 $176,812
 (A) Figures are in thousands, except per unit data.
 (B) 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 III reported total revenue of $11.2 million for the quarter ended March 31, 1992, compared to $12.7 million in 1991. Net loss for the quarter was $104,539, compared to a loss of $969,072 in 1991. Cash distributions per depositary unit for the quarter were $0.525, compared to $0.50 a year ago.
 The following table sets forth a summary of certain operating statistics for the quarter ended March 31:
 PLM EQUIPMENT GROWTH FUND III
 Certain Operating Statistics(A)
 Quarter Ended March 31,
 1992 1991
 Revenue $ 11,214 $ 12,680
 Net Income (Loss) $ (105) $ (969)
 Distributions Payable $ 5,527 $ 5,263
 Depositary Units Outstanding 10,000 10,000
 Distributions Payable per Depositary Unit $ 0.525 $ 0.500
 Total Equipment Portfolio(B) $213,147 $215,001
 (A) Figures are in thousands, except per unit data.
 (B) 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 Aug. 16, 1991.
 In announcing the results Allen V. Hirsch, president of PLM Financial Services Inc., the general partner of the funds, said "The effects of the recession and the sale of assets in the fourth quarter 1991 reduced the revenues of the first quarter of 1992 as sales proceeds were redeployed over the course of the first quarter of 1992."
 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 in 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- 5/14/92
 /CONTACT: Jeff Badger of PLM International, 415-905-7460/
 (GFX GFY GFZ) CO: PLM International Inc.; PLM Financial Services Inc. ST: California IN: TRN SU: ERN


MC-DG -- SF022 -- 0539 05/14/92 21:24 EDT
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