October 13, 1998

Mr. Michael Allgood
PLM International, Inc.

Dear Mr. Allgood,

         This letter is to confirm  that First Union  National  Bank has renewed
its liquidity  purchase  commitment  for the AFG Master Trust  commercial  paper
program in the amount of $125,000,000 through the expiration date of October 12,
1999.


/s/ Bill A. Shirley
- --------------------------------
Bill A. Shirley
Senior Vice President