<ARTICLE> 5 <CIK> 0000932091 <NAME> ILM I LEASE CORPORATION <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> AUG-31-1997 <PERIOD-END> MAY-31-1998 <CASH> 3,190 <SECURITIES> 0 <RECEIVABLES> 295 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 3,485 <PP&E> 854 <DEPRECIATION> 171 <TOTAL-ASSETS> 4,446 <CURRENT-LIABILITIES> 3,428 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 700 <OTHER-SE> 260 <TOTAL-LIABILITY-AND-EQUITY> 4,446 <SALES> 0 <TOTAL-REVENUES> 14,423 <CGS> 0 <TOTAL-COSTS> 14,112 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 311 <INCOME-TAX> 125 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 186 <EPS-PRIMARY> .02 <EPS-DILUTED> .02