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PLM INTERNATIONAL AGREES TO SETTLEMENT IN DANIELS ACTION

 PLM INTERNATIONAL AGREES TO SETTLEMENT IN DANIELS ACTION
 SAN FRANCISCO, Sept. 28 /PRNewswire/ -- San Francisco-based PLM International Inc. (AMEX: PLM) today announced that it, as well as certain individuals who served as the company's directors and officers, entered into a new agreement to settle the Daniels class action. The Daniels lawsuit arose out of the consolidation transaction which resulted in the formation of PLM International in February 1988. Plaintiffs were limited partners whose partnership units were exchanged in that transaction generally for cash and for shares of PLM International common stock. A prior contingent settlement announced on April 14, 1992, was recently terminated by its own terms.
 The new settlement announced today calls for PLM International to pay a total of $2 million. The proceeds of certain insurance policies concerning defendant company directors and officers, totaling $4.5 million, will also be contributed. The company had already deposited its $2 million into escrow in June 1992 in connection with the previous contingent settlement announced in April 1992. The settlement is subject to court approval, which PLM International expects to obtain.
 In making the announcement, Robert N. Tidball, PLM International's president and chief executive officer, stated, "We are pleased to put the Daniels class action behind us. Importantly, the settlement, which will be charged against paid in capital in conjunction with other adjustments, has been accomplished without material impact to our financial position. With the settlement of this lawsuit, we are now free of any major litigation and can fully focus on improving operational performance with a vision toward long term growth."
 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- 9/28/92
 /CONTACT: Valerie Carattini-Cooke, director of corporate communications for PLM International, 415-905-7227/
 (PLM) CO: PLM International Inc. ST: California IN: TRN SU:


TM-BB -- SF004 -- 3967 09/28/92 12:24 EDT
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Publication:PR Newswire
Date:Sep 28, 1992
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