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TRANSCISCO INDUSTRIES ORDERED TO PROVIDE BONDHOLDERS COMMITTEE WITH PROXY TO VOTE

 LOS ANGELES, May 10 /PRNewswire/ -- On May 10, 1993, the United States Bankruptcy Court for the Northern District of California ordered Transcisco Industries Inc. ("Transcisco") to provide the Official Unsecured Bondholders' Committee (the "Bondholders Committee") with a proxy to vote the 3,367,367 shares of the Common Stock of PLM International Inc., owned by Transcisco (the "PLMI Stock"). The Bondholders Committee intends to nominate, and to vote the proxy for the election of, Thomas Revy as a director of PLMI, and to vote the proxy in the discretion of the Bondholders Committee on all other matters that may properly come before the stockholders of PLMI at the annual meeting of PLMI to be held on May 12, 1993.
 Revy is a co-chairman of the Bondholders Committee and a managing director of Froley, Revy Investment Co. Inc., a California investment management firm and the holder of approximately $4,600,000 of the principal amount of the 9 percent Senior Subordinated Convertible Notes of Transcisco.
 Revy stated, "The Bondholders Committee sought a proxy to vote the PLMI Stock to protect the value of Transcisco's substantial investment in PLMI. As the proxyholder of Transcisco, which owns 32 percent of the outstanding Common Stock of PLMI, the Bondholders Committee believes that it should have at least one representative on the board of directors of PLMI. We look forward to making available to PLMI the expertise of the bondholders in financial matters."
 Transcisco and the Bondholders Committee, among others, are proposing a Plan of Reorganization for Transcisco which, subject to the approval of the creditors and stockholders of Transcisco and confirmation of the bankruptcy court, would cancel approximately $15,410,000 of the principal amount of the 9 percent Senior Subordinated Convertible Notes of Transcisco in exchange for the transfer by Transcisco to a representative of the bondholders of the PLMI Stock and a $5 million subordinated promissory note issued by PLMI to Transcisco.
 The Bondholders Committee was appointed by the bankruptcy court to represent the interest of the bondholders in connection with Transcisco's proceedings for reorganization under Chapter 11 of the United States Bankruptcy Code.
 -0- 5/10/93
 /CONTACT: Norman Wechsler, co-chairman of Bondholders Committee, 914-242-6040/


CO: Transcisco Industries Inc.; Official Unsecured Bondholders'
 Committee; PLM International Inc. ST: California IN: SU: BCY


LS-MS -- LA041 -- 6746 05/10/93 19:32 EDT
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Publication:PR Newswire
Date:May 10, 1993
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