Contact: Eileen M. Doyle
                                              Vice President, Investor Relations
                                              (415) 905-7467


                                  TENDER OFFER
                 FOR SHARES OF PLM INTERNATIONAL, INC. COMPLETED

             Approximately 83.2% of shares of Common Stock Received

FOR IMMEDIATE RELEASE


SAN FRANCISCO,  CA - (AMEX:  PLM) - February 7, 2001 - PLM  International,  Inc.
(the Company)  announced today that MILPI Acquisition  Corp.  completed its cash
tender offer for the outstanding common stock of the Company at $3.46 per share.
The offer commenced on December 29, 2000 and expired at 12:00 midnight, New York
City time, on Tuesday, February 6, 2001. Based upon preliminary information from
the  depositary,  a total of  approximately  6,287,732  shares of  common  stock
(including   12,340  shares  subject  to  guaranteed   delivery),   representing
approximately  83.2% of the outstanding common stock of PLM International,  were
validly  tendered prior to the  expiration of the offer and not  withdrawn.  All
such shares have been  accepted  for  purchase by MILPI in  accordance  with the
terms of the offer.

Under the terms of the  merger  agreement  between  MILPI and PLM  International
dated as of December  22,  2000,  MILPI will  complete  its  acquisition  of PLM
International  by  effecting  a merger  of MILPI  into PLM  International  under
Delaware law, in which the remaining  outstanding shares of the Company's common
stock held by persons  other than MILPI or PLM  International  will be converted
into the right to  receive  $3.46  per  share.  The  merger  is  expected  to be
completed   shortly   once  MILPI   obtains   approval  of  the  merger  by  PLM
International's  shareholders  pursuant  to  a  special  shareholders'  meeting.
Pursuant to MILPI's  acceptance of such shares and the merger agreement dated as
of December 22, 2000,  MILPI has waived any condition to the consummation of the
merger  other than the  condition  that no provision  of any  applicable  law or
regulation  and no  judgment,  injunction,  order or  decree  shall  prevent  or
prohibit the  consummation  of the merger.  Shares of PLM  International  common
stock will continue to trade until the consummation of the merger.

Stephen  M.  Bess,  Randall  L-W  Caudill,   Douglas  P.  Goodrich,   Warren  G.
Lichtenstein, Howard M. Lorber, Harold R. Somerset and Robert L. Witt, directors
of PLM International,  have tendered their resignations,  effective upon payment
for the tendered shares,  which PLM expects will be effective  today.  Following
such payment and resignations, Gary D. Engle and James A Coyne will be appointed
to the Board of Directors of PLM to fill the vacancies due to such  resignations
and MIPLI will assume control of PLM International's operations.

                                    **more**

PLM International 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.

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.

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 and MILPI's ability to
integrate PLM International  operations and achieve the anticipated synergies of
the transaction.


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The parties are required to file  documentation with the Securities and Exchange
Commission  concerning the  transaction.  WE URGE INVESTORS TO READ THE SCHEDULE
TO-T, THE SCHEDULE 14D-9 AND ANY OTHER  RELEVANT  DOCUMENTS  FILED WITH THE SEC,
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 will
be  available  free of charge by  directing  a request to the  Secretary  of PLM
International  at One Market,  Steuart  Street Tower,  Suite 800, San Francisco,
California   94105.   Neither  Semele  nor  any  of  its  affiliates  takes  any
responsibility   with   respect  to  the   accuracy  or   completeness   of  PLM
International's filings.

PLM International,  its directors,  executive officers and certain other members
of PLM  International  management  and employees in the future may be soliciting
proxies from PLM International  shareholders in favor of the merger  transaction
and may have an  interest  either  directly  or  indirectly  by  virtue of their
security  holdings  or  otherwise.  In such  case,  information  concerning  the
participants  will be set forth in a proxy statement that will be filed with the
SEC.  Information  regarding  such  officers  and  directors  is included in PLM
International's  definitive  proxy  statement  for its 2000  special  meeting of
shareholders  filed with the SEC on July 27, 2000, the Schedule 14D-9 filed with
the SEC on December 29, 2000 and other  documents to be filed with the SEC. Such
documents   are   available   free  of   charge   at  the   SEC's  web  site  at
http://www.sec.gov and from PLM International at the address set forth above.

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