FOR IMMEDIATE RELEASE

SEMELE AFFILIATE TO ACQUIRE PLM INTERNATIONAL, INC.

WESTPORT, CT.--(BUSINESS WIRE; Nasdaq: VSLF)--December 22, 2000--Semele Group
Inc. announced today that its affiliate, MILPI Acquisition Corp., has entered
into a definitive agreement to acquire PLM International, Inc. for a cash
purchase price of approximately $27 million. In connection with the acquisition,
MILPI will make a tender offer to purchase any and all of PLM International's
outstanding common stock at a price of $3.46 per share. Upon completion of the
tender offer, if required in order to complete the acquisition, PLM
International will hold a special meeting of shareholders to approve the merger.
MILPI Acquisition Corp. is owned by a limited liability company which is owned
by four trusts: AFG Investment Trust A, AFG Investment Trust B, AFG Investment
Trust C, and AFG Investment Trust D. An indirect subsidiary of Semele is
managing trustee of each of the four trusts and has a beneficial interest in
each of the trusts and in a special beneficiary of each of the trusts.

The transaction has been approved by the boards of directors of each of Semele,
MILPI and PLM International. In addition, a group of shareholders of PLM
International, who own approximately 24% of PLM International's voting power,
has agreed to tender all of their shares to MILPI in the tender offer and to
vote in favor of the merger if a special meeting of shareholders is required.

Semele Group Inc. is a holding company with interests in a number of real
estate development projects, income producing real estate, and equipment
leasing funds.

PLM International, Inc. is a management company providing services to
transportation, industrial, and commercial companies. The Company also manages a
diversified portfolio of over $700 million (based on original equipment cost) of
transportation and related equipment for approximately 60,000 third-party
investors.

This release contains forward-looking statements that are subject to risks and
uncertainties that could cause actual results to differ materially from those
projected in such statements. Potential risks and uncertainties include, but are
not limited to, satisfaction of the conditions to closing.

The parties are required to file documentation with the Securities and Exchange
Commission concerning the transaction. WE URGE INVESTORS TO READ THE SCHEDULE
TO, THE SCHEDULE 14D-9, THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS TO
BE FILED WITH THE SEC, WHEN THEY BECOME AVAILABLE, BECAUSE THEY CONTAIN
IMPORTANT INFORMATION. You may obtain a free copy of the documents filed by PLM
International, Inc. with the SEC at the SEC's web site at www.sec.gov. In
addition, documents filed with the SEC by PLM International, Inc. will be
available free of charge by directing a request to the Secretary of PLM
International, Inc. at One Market, Steuart Street Tower, Suite 800, San
Francisco, California 94105. PLM International, Inc., its directors, executive
officers and certain other members of its management and employees may be
soliciting proxies from PLM International, Inc.'s shareholders in favor of the
merger transaction and may have an interest either directly or indirectly by
virtue of their security holdings or otherwise. Information concerning the
participants will be set forth in the Proxy Statement when it is filed with the
SEC. Information regarding such officers and directors


is included in PLM International, Inc.'s Definitive Proxy Statement for its 2000
Annual Meeting of Stockholders filed with the Commission on February 4, 2000.
This document is available free of charge at the SEC's web site at
http://www.sec.gov and from PLM International, Inc. at the address set forth
above. Neither Semele nor any of its affiliates takes any responsibility with
respect to the accuracy or completeness of PLM International's filings.


SEMELE CONTACT:
   James A. Coyne
   MILPI Acquisition Corp.
   c/o Semele Group Inc.
   200 Nyala Farms
   Westport, CT 06880
   Phone: (203) 341-0515
   Fax: (203) 341-9988
   Email: jcoyne@equisgroup.com