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PLM EQUIPMENT GROWTH FUNDS ANNOUNCE QUARTERLY RESULTS

 PLM EQUIPMENT GROWTH FUNDS ANNOUNCE QUARTERLY RESULTS
 SAN FRANCISCO, Nov. 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 Sept. 30, 1992.
 PLM Equipment Growth Fund reported total revenue of $6.5 million for the quarter ended Sept. 30, 1992, compared to $9.3 million in 1991. Net income for the quarter was $479,000 compared to net loss of $209,000 (including a $517,000 non-cash book adjustment to equipment value of three commuter aircraft which were subsequently sold) 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 $21.1 million for the nine months ended Sept. 30, 1992, compared to $28.7 million (including a $1.3 million gain on equipment sales) in 1991. Net loss for the nine months was $2.2 million (including a $2.5 million non-cash book adjustment to equipment value, primarily one narrow body commercial aircraft and a marine vessel, both of which were subsequently sold), compared to net income of $2.5 million (including a $517,000 non-cash book adjustment to equipment value) in 1991.
 Cash distributions payable per Depositary Unit for the nine months were $1.725 equal to $1.725 a year ago.
 The following table sets forth a summary of selected operating statistics for the quarter ended Sept. 30:
 CERTAIN OPERATING STATISTICS(1)
 Quarter Ended Nine Months Ended
 Sept. 30, Sept. 30,
 1992 1991 1992 1991
 Revenue $ 6,540 $ 9,275 $ 21,135 $ 28,682
 Net Income (Loss) $ 479 $ (209) $ (2,221) $ 2,476
 Distributions Payable $ 3,451 $ 3,469 $ 10,379 $ 10,414
 Depositary Units
 Outstanding 5,943 5,973 5,943 5,973
 Distributions Payable
 Per Depositary Unit $ 0.575 $ 0.575 $ 1.725 $ 1.725
 Total Equipment
 Portfolio (B) $128,470 $150,598 $128,470 $150,598
 (1) Figures are in thousands, except per unit data.
 (2) Total acquisition cost including capitalized repairs.
 PLM Equipment Growth Fund is a $120 million income-oriented limited partnership formed in January 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 $8.6 million for the quarter ended Sept. 30, 1992, compared to $9.8 million in 1991. Net loss for the quarter was $773,000 compared to net loss of $2.5 million (including a $1.1 million non-cash book adjustment to equipment value of six commuter aircraft which were subsequently sold) in 1991. Cash distributions payable per depositary unit for the third quarter were $0.55, equal to $0.55 a year ago.
 PLM Equipment Growth Fund II reported total revenue of $25.9 million for the nine months ended Sept. 30, 1992, compared to $30.2 million (including a $1.0 million gain on equipment sales) in 1991. Net loss for the nine months was $3.5 million (including a $948,000 non-cash book adjustment to equipment value of 220 marine containers) compared to net loss of $2.2 million (including a $1.1 million non-cash book adjustment to equipment value) in 1991. Cash distributions payable per depositary unit for the nine months were $1.65, equal to $1.65 a year ago.
 The following table sets forth a summary of certain operating statistics for the quarter ended Sept. 30:
 CERTAIN OPERATING STATISTICS(1)
 Quarter Ended Nine Months Ended
 Sept. 30, Sept. 30,
 1992 1991 1992 1991
 Revenue $ 8,584 $ 9,824 $ 25,941 $ 30,233
 Net Income (Loss) $ (773) $ (2,543) $ (3,488) $ (2,209)
 Distributions
 Payable $ 4,342 $ 4,342 $ 13,029 $ 13,027
 Depositary Units
 Outstanding 7,500 7,500 7,500 7,500
 Distributions
 Payable per
 Depositary Unit $ 0.55 $ 0.55 $ 1.65 $ 1.65
 Total Equipment
 Portfolio(2) $166,491 $176,420 $166,491 $176,420
 (1) Figures are in thousands, except per unit data.
 (2) 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 $11.6 million (including a $858,000 gain on equipment sales) for the quarter ended Sept. 30, 1992, compared to $12.4 million in 1991. Net loss for the quarter was $1.9 million (including a $2.0 million non-cash book adjustment to equipment value of narrow body commercial aircraft), compared to a loss of $1.4 million for the same period 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 $33.8 million (including an $893,000 gain on equipment sales) for the nine months ended Sept. 30, 1992, compared to $37.6 million in 1991. Net loss for the nine months was $2.8 million (including a $2.2 million non-cash book adjustment to equipment value), equal to a net loss of $2.8 million in 1991. Cash distributions payable per depositary unit for the nine months were $1.575, compared to $1.55 a year ago.
 The following table sets forth a summary of certain operating statistics for the quarter ended Sept. 30:
 CERTAIN OPERATING STATISTICS(1)
 Quarter Ended Nine Months Ended
 Sept. 30, Sept. 30,
 1992 1991 1992 1991
 Revenue $ 11,572 $ 12,362 $ 33,795 $ 37,583
 Net Income (Loss) $ (1,917) $ (1,416) $ (2,829) $ (2,837)
 Distributions
 Payable $ 5,525 $ 5,526 $ 16,580 $ 16,316
 Depositary Units
 Outstanding 10,000 10,000 10,000 10,000
 Distributions
 Payable per
 Depositary Unit $ 0.525 $ 0.525 $ 1.575 $ 1.55
 Total Equipment
 Portfolio(2) $210,697 $219,555 $210,697 $219,555
 (1) Figures are in thousands, except per unit data.
 (2) Total acquisition cost including capitalized repairs.
 PLM Equipment Growth Fund III is a $200 million income-oriented limited partnership formed in October 1987 to acquire, manage and lease a diversified portfolio of used transportation equipment. The fund began trading on the American Stock Exchange Aug. 16, 1991.
 PLM Financial Services Inc., a subsidiary of PLM International Inc. (AMEX: PLM), 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- 11/13/92
 /CONTACT: Valerie Carattini-Cooke, director of corporate communications of PLM International, 415-905-7227/
 (GFX GFY GFZ PLM) CO: PLM International Inc.; PLM Growth Funds ST: California IN: TRN SU: ERN


ML-TM -- SF013 -- 0918 11/13/92 17:22 EST
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