UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                               ___________________
                                    FORM 10-K


     [X]      Annual Report Pursuant to Section 13 or 15(d) of the Securities
              Exchange Act of 1934
              For the fiscal year ended December 31, 2000.

     [ ]     Transition Report Pursuant to Section 13 or 15(d) of the Securities
              Exchange Act of 1934
              For the transition period from              to

                         Commission file number 0-18789
                             _______________________


                          PLM EQUIPMENT GROWTH FUND IV
             (Exact name of registrant as specified in its charter)


               California                                       94-3090127
     (State or other jurisdiction of                         (I.R.S. Employer
     incorporation or organization)                         Identification No.)

    One Market, Steuart Street Tower
      Suite 800, San Francisco, CA                              94105-1301
          (Address of principal                                 (Zip code)
           executive offices)


        Registrant's telephone number, including area code (415) 974-1399
                             _______________________

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days. Yes X No ______

Aggregate market value of voting stock:  N/A

An index of exhibits filed with this Form 10-K is located on page 22.

Total number of pages in this report:  48.



                                     PART I
ITEM 1.  BUSINESS

(A)  Background

In March 1989,  PLM Financial  Services,  Inc. (FSI or the General  Partner),  a
wholly-owned  subsidiary of PLM International,  Inc. (PLM International or PLM),
filed a  Registration  Statement  on Form S-1 with the  Securities  and Exchange
Commission with respect to a proposed offering of 8,750,000 limited  partnership
units  (including  1,250,000  option units) (the units) in PLM Equipment  Growth
Fund IV, a California limited partnership (the Partnership,  the Registrant,  or
EGF IV). The  Partnership's  offering became  effective on May 23, 1989. FSI, as
General Partner, owns a 5% interest in the Partnership.  The Partnership engages
in the business of investing in a  diversified  equipment  portfolio  consisting
primarily of used, long-lived, low-obsolescence capital equipment that is easily
transportable by and among prospective users.

The Partnership's primary objectives are:

     (1) to maintain a diversified  portfolio of  long-lived,  low-obsolescence,
high  residual-value  equipment with the net proceeds of the initial partnership
offering,  supplemented by debt financing and  reinvestment of cash generated by
operations.  All  transactions  of over $1.0 million must be approved by the PLM
International  Credit  Review  Committee  (the  Committee),  which is made up of
members  of PLM  International  Senior  Management.  In  determining  a lessee's
creditworthiness,   the  Committee  will  consider,  among  other  factors,  its
financial  statements,  internal and  external  credit  ratings,  and letters of
credit.

     (2) to generate sufficient net operating cash flow from lease operations to
meet liquidity  requirements  and to generate cash  distributions to the limited
partners  until  such  time  as  the  General  Partner   commences  the  orderly
liquidation of the  Partnership  assets or unless the  Partnership is terminated
earlier upon sale of all Partnership property or by certain other events.

     (3) to selectively  sell equipment when the General Partner  believes that,
due to market conditions,  market prices for equipment exceed inherent equipment
values or that expected future benefits from continued ownership of a particular
asset will have an adverse affect on the  Partnership.  As the Partnership is in
the  liquidation  phase,  proceeds  from these sales,  together  with excess net
operating cash flows from operations (net cash provided by operating  activities
plus distributions from unconsolidated  special-purpose  entities (USPEs)),  are
used to pay distributions to the partners.

     (4) to  preserve  and protect the value of the  portfolio  through  quality
management,  maintaining the portfolio's  diversity,  and constantly  monitoring
equipment markets.

The offering of the units of the  Partnership  closed on March 28,  1990.  As of
December 31, 2000, there were 8,628,420 limited  partnership units  outstanding.
The General Partner  contributed $100 for its 5% general partner interest in the
Partnership.

The  Partnership  has entered its  liquidation  phase and the General Partner is
actively  pursuing  the  sale of all of the  Partnership's  equipment  with  the
intention of winding up the Partnership and  distributing  all available cash to
the Partners.  The liquidation  phase will end on December 31, 2009,  unless the
Partnership  is  terminated  earlier  upon  sale of all of the  equipment  or by
certain other events.  The General Partner  anticipates  that the liquidation of
Partnership assets will be completed by the end of the year 2001.



Table  1,  below,  lists  the  equipment  and  the  cost  of  equipment  in  the
Partnership's  portfolio,  and the cost of an  investment  in an  unconsolidated
special-purpose entity, as of December 31, 2000 (in thousands of dollars):

                                                                TABLE 1
<TABLE>
<CAPTION>

 Units                              Type                                    Manufacturer                     Cost
---------------------------------------------------------------------------------------------------------------------

Owned equipment held for operating leases:

<S> <C>                                                                                                  <C>
    277      Pressurized tank railcars                               Various                             $    8,340
     98      Woodchip gondola railcars                               General Electric                         2,341
    110      Bulkhead flat railcars                                  Marine Industries Ltd.                   2,153
     24      Nonpressurized tank railcars                            Various                                    502
    153      Refrigerated marine containers                          Various                                  4,115
    161      Various marine containers                               Various                                    552

                                                                                                         -----------
             Total owned equipment held for operating leases                                             $   18,003
                                                                                                         ===========

Owned equipment held for sale:
      1      737-200 stage II commercial aircraft                    Boeing                              $   14,692
      1      Dash 8-300 commuter aircraft                            Dehavilland                              5,748
                                                                                                         -----------
             Total owned equipment held for sale                                                         $   20,440
                                                                                                         ===========

             Total owned equipment                                                                       $   38,443 1
                                                                                                         ===========

Investment in an unconsolidated special-purpose entity:

   0.35      Equipment on direct finance lease:
               Two DC-9 stage III commercial aircraft                McDonnell-Douglas                   $    3,901 1,2
                                                                                                         ===========

1    Includes equipment and investments purchased with the proceeds from capital
     contributions,  undistributed  cashflow from  operations,  and  Partnership
     borrowings.   Includes  costs   capitalized   subsequent  to  the  date  of
     acquisition  and  equipment  acquisition  fees  paid to PLM  Transportation
     Equipment Corporation,  a wholly-owned subsidiary of FSI. All equipment was
     used  equipment at the time of purchase.

2    Jointly Owned: EGF IV and two affiliated programs.
</TABLE>


The Partnership's aircraft is generally leased under operating leases with terms
of eight years. The Partnership's  marine containers are leased to operators of
utilization-type  leasing pools,  which include  equipment owned by unaffiliated
parties.  In such instances,  revenues received by the Partnership  consist of a
specified  percentage of revenues  generated by leasing the pooled  equipment to
sublessees,  after  deducting  certain direct  operating  expenses of the pooled
equipment.  Rents for  railcars are based on fixed rate with terms of one to six
years.  Lease  revenues for trailers  that operated in rental yards owned by PLM
Rental, Inc. were based on a fixed rate for a specific period of time.

Rental  income  related to trailers was reported as revenue in  accordance  with
Financial  Accounting  Standards Board Statement No. 13 "Accounting for Leases".
Direct  expenses  associated  with the  equipment  were charged  directly to the
Partnership.  An  allocation  of other  indirect  expenses  of the  rental  yard
operations was charged to the Partnership monthly.

The lessees of the equipment  include,  but are not limited to: Aero California,
Transamerica Leasing, and Canadian Pacific Railways.



(B)  Management of Partnership Equipment

The  Partnership  has entered into an equipment  management  agreement  with PLM
Investment  Management,  Inc.(IMI),  a wholly-owned  subsidiary of FSI, for the
management  of  the  Partnership's   equipment.   The  Partnership's  management
agreement with IMI is to co-terminate  with the dissolution of the  Partnership,
unless the limited  partners vote to terminate the agreement  prior to that date
or at the  discretion  of the  General  Partner.  IMI has agreed to perform  all
services  necessary to manage the equipment on behalf of the  Partnership and to
perform or contract for the  performance of all  obligations of the lessor under
the Partnership's leases.  In consideration for its services and pursuant to the
partnership agreement,  IMI is entitled to a monthly management fee (see Notes 1
and 2 to the audited financial statements).

(C)  Competition

(1)  Operating Leases versus Full Payout Leases

Generally the equipment owned by or invested in the Partnership is leased out on
an  operating  lease  basis  wherein  the  rents  received  during  the  initial
noncancelable  term of the lease are  insufficient to recover the  Partnership's
purchase  price of the  equipment.  The short- to mid-term  nature of  operating
leases generally commands a higher rental rate than the longer-term, full payout
leases and offers lessees relative flexibility in their equipment commitment. In
addition, the rental obligation under an operating lease need not be capitalized
on the lessee's balance sheet.

The Partnership  encounters  considerable  competition from lessors that utilize
full payout leases on new  equipment,  i.e.  leases that have terms equal to the
expected  economic  life  of the  equipment.   While  some  lessees  prefer  the
flexibility offered by a shorter-term  operating lease, other lessees prefer the
rate advantages  possible with a full payout lease.   Competitors may write full
payout  leases  at  considerably  lower  rates  and for  longer  terms  than the
Partnership offers, or larger competitors with a lower cost of capital may offer
operating leases at lower rates,  which may put the Partnership at a competitive
disadvantage.

(2)  Manufacturers and Equipment Lessors

The Partnership competes with equipment manufacturers who offer operating leases
and full payout leases.   Manufacturers may provide ancillary  services that the
Partnership cannot offer, such as specialized  maintenance  services  (including
possible substitution of equipment),  training,  warranty services, and trade-in
privileges.

The  Partnership  also  competes  with many  equipment  lessors,  including  ACF
Industries, Inc. (Shippers Car Line Division), General Electric Railcar Services
Corporation,  General Electric Capital Aviation Services Corporation,  and other
investments programs that lease the same types of equipment.

(D)  Demand

The Partnership currently operates in three primary operating segments: aircraft
leasing,  marine container leasing, and railcar leasing.  Each equipment leasing
segment  engages in  short-term  to  mid-term  operating  leases to a variety of
customers.  Except for those  aircraft  leased to passenger  air  carriers,  the
Partnership's  equipment  and  investments  are used to transport  materials and
commodities, rather than people.

The following  section describes the international and national markets in which
the Partnership's capital equipment operates:

(1)      Aircraft

(a)      Commercial aircraft

Both Boeing and Airbus  Industries have predicted that the rate of growth in the
demand for air transportation services will be relatively robust for the next 20
years.  Boeing has predicted that the demand for passenger services will grow at
an average  rate of about 4.8% per year and the  demand for cargo  traffic  will
grow at about 6.4% per year during  that  period.  Such  growth  will  require a
substantial increase in the numbers of commercial aircraft. According to Boeing,
as of the end of 1999,  the  world  fleet  of jet  powered  commercial  aircraft
included a total of about 13,670 airplanes. That total included 11,994 passenger
aircraft with 50 seats or more and 1,676  freighter  aircraft.  Boeing  predicts
that by the end of 2019 that fleet will grow to about 31,755 aircraft  including
28,558 passenger aircraft with 50 seats or more and 3,197 freighter aircraft. To
support this growth,  Boeing  received 502 new aircraft  orders in the first ten
months of 2000 and Airbus received 427.

Airline economics will also require aircraft to be retained in active commercial
service for longer periods than previously  expected.  Consequently,  the market
for environmentally acceptable and economically viable aircraft will continue to
be robust and such aircraft will command  relatively  high residual  values.  In
general,  aircraft values have tended to grow at about 3% per year.  Lease rates
should also grow at similar rates.  However, such rates are subject to variation
depending  on the state of the world  economy and the  resultant  demand for air
transportation services.

(b)      Commuter aircraft

Regional jets have been well received in the commuter market.  This has resulted
in an  increase  in demand  for  regional  jets at the  expense  of  turboprops.
Turboprop  manufacturers  are cutting  back on  production  due to this  reduced
demand.  The  uncertainty  of the future  market for  turboprops  has an adverse
effect on turboprop lease rates and residual values.

The Partnership leases one commuter turboprop containing 50 seats. This aircraft
flies in North America,  which  continues to be the  fastest-growing  market for
commuter  aircraft  in the world.  The  Partnership's  aircraft  possess  unique
performance  capabilities,  compared  to other  turboprops,  which allow them to
readily  operate at maximum  payloads  from  unimproved  surfaces,  hot and high
runways, and short runways.

The Partnership's turboprop remained on lease throughout 2000 and its lease rate
was  constant.  However as this aircraft was reclassed as an asset held for sale
by the end of 2000  the sale  price  will be  affected  due to the  decrease  in
residual value for all turboprops.

(2)  Railcars

(a)  Pressurized Tank Railcars

Pressurized  tank cars are used to transport  liquefied  petroleum  gas (natural
gas) and anhydrous  ammonia  (fertilizer).  The United States (U.S.) markets for
natural  gas are  industrial  applications  (46% of  estimated  demand in 2000),
residential use (21%),  electrical  generation  (15%),  commercial  applications
(15%), and transportation (3%). Natural gas consumption is expected to grow over
the next few years as most new electricity  generation  capacity  planned for is
expected to be natural gas fired.  Within the fertilizer  industry,  demand is a
function of several factors,  including the level of grain prices, the status of
government  farm subsidy  programs,  amount of farming  acreage and mix of crops
planted, weather patterns,  farming practices, and the value of the U.S. dollar.
Population growth and dietary trends also play an indirect role.

On an industry wide basis,  North American  carloadings  of the commodity  group
that includes  petroleum and chemicals  increased 1% in 2000,  compared to 1999.
Consequently,  demand for  pressurized  tank cars remained  relatively  constant
during 2000,  with  utilization of this type of railcar  within the  Partnership
remaining  above 98%.  While  renewals  of existing  leases  continue at similar
rates, some cars continue to be renewed for "winter only" terms of approximately
six months. As a result,  there are many pressurized tank cars up for renewal in
the spring of 2001.

(b)  Woodchip Gondolas Railcars

These  railcars are used to  transport  woodchips  from  sawmills to pulp mills,
where the woodchips are converted into pulp.  Thus,  demand for woodchip cars is
directly  related  to demand  for  paper,  paper  products,  particleboard,  and
plywood.  In Canada,  where the Partnership's  woodchip  railcars operate,  2000
carloadings of forest products increased 2% over 1999 levels.

Over the 2001-04 forecast period,  U.S. market pulp suppliers should  experience
increased  global  demand and a  corresponding  increase  in  domestic  sales as
product shipments increase about 2% annually over these years.

(c)  Bulkhead Flat Railcars

Bulkhead  flatcars are used to transport  pulpwood  from sawmills to pulp mills.
High-grade  pulpwood is used to make paper,  while low-grade pulpwood is used to
make  particleboard and plywood.  In Canada,  where the  Partnership's  bulkhead
flatcars operate for the year, 2000 carloadings of forest products  increased 2%
over 1999 levels.

Over the 2001-04 forecast period,  U.S. market pulp suppliers should  experience
increased  global  demand and a  corresponding  increase  in  domestic  sales as
product shipments increase about 2% annually over these years.

(d)  Nonpressurized, General Purpose Tank Railcars

These cars are used to  transport  bulk liquid  commodities  and  chemicals  not
requiring pressurization, such as certain petroleum products, liquefied asphalt,
lubricating  oils,  molten sulfur,  vegetable oils and corn syrup. This car type
continued to be in high demand during 2000. The overall health of the market for
these  types  of  commodities  is  closely  tied to both  the  U.S.  and  global
economies,  as reflected in movements in the Gross  Domestic  Product,  personal
consumption  expenditures,  retail  sales,  and  currency  exchange  rates.  The
manufacturing,  automobile,  and housing  sectors are the largest  consumers  of
chemicals.  Within North America,  2000  carloadings of the commodity group that
includes chemicals and petroleum products rose 1% over 1999 levels.  Utilization
of the Partnership's nonpressurized tank cars remained above 98% during 2000.

(3)  Marine Containers

The  Partnership's  fleet of both standard dry and specialized  containers is in
excess of twelve years of age,  and is  generally no longer  suitable for use in
international  commerce,  either due to its specific physical condition,  or the
lessees' preferences for newer equipment.  As individual containers are returned
from their  specific  lessees,  they are being  marketed  for sale on an 'as is,
where is' basis.  The market for such sales,  although highly dependent upon the
specific  location and type of  container,  has  continued to be strong over the
last several years,  as it relates to standard dry  containers.  The Partnership
has in the  last  year  experienced  reduced  residual  values  on the  sale  of
refrigerated containers,  due primarily to technological  obsolesence associated
with this equipment's refrigeration machinery.

(E)  Government Regulations

The use,  maintenance,  and  ownership  of equipment  are  regulated by federal,
state, local, or foreign governmental  authorities.  Such regulations may impose
restrictions and financial burdens on the Partnership's  ownership and operation
of  equipment.  Changes  in  government  regulations,   industry  standards,  or
deregulation  may also  affect  the  ownership,  operation,  and  resale  of the
equipment.  Substantial  portions of the Partnership's  equipment  portfolio are
either registered or operated internationally.  Such equipment may be subject to
adverse  political,   government,  or  legal  actions,  including  the  risk  of
expropriation  or loss arising from  hostilities.  Certain of the  Partnership's
equipment is subject to extensive  safety and operating  regulations,  which may
require its removal from service or extensive  modification of such equipment to
meet  these  regulations,   at  considerable  cost  to  the  Partnership.   Such
regulations include but are not limited to:

     (1) the U.S. Department of Transportation's  Aircraft Capacity Act of 1990,
     which limits or  eliminates  the  operation of  commercial  aircraft in the
     United  States  that  do not  meet  certain  noise,  aging,  and  corrosion
     criteria.  In addition,  under U.S.  Federal  Aviation  Regulations,  after
     December  31,  1999,  no person  shall  operate an  aircraft to or from any
     airport in the contiguous United States unless that airplane has been shown
     to comply with Stage III noise  levels.  The  Partnership  has one Stage II
     aircraft  that does not meet Stage III  requirements.  As of  December  31,
     2000,  this  aircraft  was  reclassed  as asset held for sale.  The cost to
     install a hushkit to meet quieter Stage III  requirements is  approximately
     $2.0 million, depending on the type of aircraft.

     (2) the Montreal  Protocol on  Substances  that Deplete the Ozone Layer and
     the United  States  Clean Air Act  Amendments  of 1990,  which call for the
     control and  eventual  replacement  of  substances  that have been found to
     cause or contribute  significantly to harmful effects on the  stratospheric
     ozone layer and that are used  extensively as  refrigerants in refrigerated
     marine cargo containers.

     (3) the U.S. Department of Transportation's Hazardous Materials Regulations
     regulates  the  classification  and  packaging  requirements  of  hazardous
     materials which apply particularly to the Partnership's tank railcars.  The
     Federal Railroad  Administration  has mandated that effective July 1, 2000,
     all tank railcars must be  re-qualified  every ten years from the last test
     date stenciled on each railcar to insure tank shell  integrity.  Tank shell
     thickness,  weld seams, and weld attachments must be inspected and repaired
     if necessary to re-qualify a tank railcar for service.  The average cost of
     this  inspection  is $1,800 for  non-jacketed  tank railcars and $3,600 for
     jacketed  tank  railcars,   not  including  any  necessary  repairs.   This
     inspection is to be performed at the next scheduled tank test and every ten
     years  thereafter.  The Partnership  currently owns 214  non-jacketed  tank
     railcars and 87 jacketed tank railcars of which a total of 10 tank railcars
     have been inspected with no reportable defects.

As of December  31,  2000,  the  Partnership  was in  compliance  with the above
government  regulations.   Typically,   costs  related  to  extensive  equipment
modifications to meet government regulations are passed on to the lessee of that
equipment.

ITEM 2.  PROPERTIES

The Partnership  neither owns nor leases any properties other than the equipment
it has  purchased  and its  interests in entities that own equipment for leasing
purposes.  As of  December  31,  2000,  the  Partnership  owned a  portfolio  of
transportation  and related equipment and an investment in equipment owned by an
unconsolidated  special-purpose  entity  (USPE) as described in Item I, Table 1.
The Partnership acquired equipment with the proceeds of the Partnership offering
of  $174.8  million  through  the  first  half of 1990,  proceeds  from the debt
financing of $33.0 million and by  reinvesting  a portion of its operating  cash
flow in additional equipment.

The  Partnership  maintains its principal  office at One Market,  Steuart Street
Tower, Suite 800, San Francisco,  California  94105-1301.  All office facilities
are provided by FSI without reimbursement by the Partnership.

ITEM 3.  LEGAL PROCEEDINGS

PLM  International,  (the Company) and various of its wholly owned  subsidiaries
are  defendants  in a class  action  lawsuit  filed in January 1997 and which is
pending  in the  United  States  District  Court for the  Southern  District  of
Alabama,  Southern  Division (Civil Action No.  97-0177-BH-C)  (the court).  The
named  plaintiffs are six individuals who invested in PLM Equipment  Growth Fund
IV, PLM  Equipment  Growth Fund V (Fund V), PLM  Equipment  Growth Fund VI (Fund
VI), and PLM Equipment  Growth & Income Fund VII (Fund VII),  collectively  (the
Funds),  each a California  limited  partnership for which the Company's  wholly
owned  subsidiary,  PLM  Financial  Services,  Inc.  (FSI)  acts as the  General
Partner.

The complaint  asserts  causes of action  against all  defendants  for fraud and
deceit,  suppression,  negligent  misrepresentation,  negligent and  intentional
breaches of fiduciary  duty,  unjust  enrichment,  conversion,  and  conspiracy.
Plaintiffs  allege that each  defendant  owed  plaintiffs  and the class certain
duties due to their  status as  fiduciaries,  financial  advisors,  agents,  and
control persons.  Based on these duties,  plaintiffs  assert  liability  against
defendants  for improper  sales and marketing  practices,  mismanagement  of the
Funds, and concealing such mismanagement from investors in the Funds. Plaintiffs
seek unspecified compensatory damages, as well as punitive damages.

In June 1997, the Company and the affiliates who are also defendants in the Koch
action were named as defendants in another  purported  class action filed in the
San Francisco  Superior Court,  San Francisco,  California,  Case No.987062 (the
Romei  action).  The plaintiff is an investor in Fund V, and filed the complaint
on her own  behalf and on behalf of all class  members  similarly  situated  who
invested in the Funds. The complaint  alleges the same facts and the same causes
of action as in the Koch action, plus additional causes of action against all of
the defendants,  including alleged unfair and deceptive practices and violations
of  state  securities  law.  In July  1997,  defendants  filed a  petition  (the
petition) in federal district court under the Federal Arbitration Act seeking to
compel  arbitration of plaintiff's  claims.  In October 1997, the district court
denied  the  Company' s  petition,  but in  November  1997,  agreed to hear the
Company's  motion for  reconsideration.  Prior to  reconsidering  its order, the
district court dismissed the petition pending settlement of the Romei action, as
discussed  below.  The state court action  continues  to be stayed  pending such
resolution.

In February 1999 the parties to the Koch and Romei actions  agreed to settle the
lawsuits,  with  no  admission  of  liability  by any  defendant,  and  filed  a
Stipulation  of Settlement  with the court.  The  settlement is divided into two
parts,  a  monetary  settlement  and  an  equitable  settlement.   The  monetary
settlement  provides  for  a  settlement  and  release  of  all  claims  against
defendants  in  exchange  for payment for the benefit of the class of up to $6.6
million.  The final settlement  amount will depend on the number of claims filed
by class members,  the amount of the administrative costs incurred in connection
with the  settlement,  and the amount of attorneys' fees awarded by the court to
plaintiffs'  attorneys.  The Company will pay up to $0.3 million of the monetary
settlement,  with  the  remainder  being  funded  by an  insurance  policy.  For
settlement  purposes,  the monetary  settlement class consists of all investors,
limited partners, assignees, or unit holders who purchased or received by way of
transfer or  assignment  any units in the Funds  between May 23, 1989 and August
30, 2000. The monetary  settlement,  if approved,  will go forward regardless of
whether the equitable settlement is approved or not.

The equitable  settlement  provides,  among other things, for: (a) the extension
(until  January 1, 2007) of the date by which FSI must complete  liquidation  of
the Funds' equipment,  (b) the extension (until December 31, 2004) of the period
during which FSI can reinvest the Funds' funds in additional  equipment,  (c) an
increase of up to 20% in the amount of front-end fees (including acquisition and
lease  negotiation  fees)  that  FSI  is  entitled  to  earn  in  excess  of the
compensatory   limitations   set   forth  in  the  North   American   Securities
Administrator's  Association's Statement of Policy; (d) a one-time repurchase by
each  of  Fund  V,  Fund  VI and  Fund  VII of up to 10% of  that  Partnership's
outstanding units for 80% of net asset value per unit; and (e) the deferral of a
portion of the  management  fees paid to an  affiliate  of FSI  until,  if ever,
certain  performance  thresholds  have been met by the  Funds.  Subject to final
court  approval,  these  proposed  changes  would be made as  amendments to each
Fund's limited partnership agreement if less than 50% of the limited partners of
each Fund vote against such amendments.  The equitable  settlement also provides
for payment of additional attorneys' fees to the plaintiffs' attorneys from Fund
funds in the event, if ever, that certain  performance  thresholds have been met
by the Funds. The equitable settlement class consists of all investors,  limited
partners,  assignees  or unit  holders  who on August 30, 2000 held any units in
Fund V, Fund VI, and Fund VII, and their assigns and successors in interest.

The court  preliminarily  approved  the monetary and  equitable  settlements  in
August 2000, and information regarding each of the settlements was sent to class
members in September  2000. The monetary  settlement  remains subject to certain
conditions,  including  final  approval by the court  following a final fairness
hearing.  The  equitable  settlement  remains  subject  to  certain  conditions,
including judicial approval of the proposed amendments and final approval of the
equitable settlement by the court following a final fairness hearing.

A final fairness hearing was held on November 29, 2000 and the parties await the
court's  decision.  The Company continues to believe that the allegations of the
Koch and Romei actions are  completely  without merit and intends to continue to
defend this matter vigorously if the monetary settlement is not consummated.

The Company is involved as plaintiff or defendant in various other legal actions
incidental  to its  business.  Management  does  not  believe  that any of these
actions will be material to the financial condition of the Partnership.



ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

No matters were submitted to a vote of the Partnership's limited partners during
the fourth quarter of its fiscal year ended December 31, 2000.


























                      (this space intentionally left blank)


                                     PART II

ITEM 5.  MARKET FOR THE PARTNERSHIP's EQUITY AND RELATED UNITHOLDER MATTERS

Pursuant  to the terms of the  partnership  agreement,  the  General  Partner is
generally entitled to a 5% interest in the profits,  losses and distributions of
the  Partnership.  The  General  Partner  is the sole  holder of such  interest.
Special  allocations  of income  are made to the  General  Partner  equal to the
deficit  balance,  if any, in the capital  account of the General  Partner.  The
General Partner's annual allocation of net income will generally be equal to the
General Partner's cash distributions paid during the current year. The remaining
interests in the profits, losses and distributions of the Partnership are owned,
as of December 31, 2000, by the 9,220 holders of units in the Partnership.

There are several  secondary markets that will facilitate sales and purchases of
units.  Secondary  markets  are  characterized  as having few buyers for limited
partnership  interests  and,  therefore,  are  generally  viewed as  inefficient
vehicles  for the sale of units.  Presently,  there is no public  market for the
units and none is likely to develop.  To prevent the units from being considered
publicly  traded  and  thereby  to  avoid  taxation  of  the  Partnership  as an
association  treated as a corporation under the Internal Revenue Code, the units
will not be transferable  without the consent of the General Partner,  which may
be withheld at its absolute  discretion.  The General Partner intends to monitor
transfers of units in an effort to ensure that they do not exceed the percentage
or number permitted by certain safe harbors  promulgated by the Internal Revenue
Service. A transfer may be prohibited if the intended  transferee is not an U.S.
citizen or if the transfer  would cause any portion of the units of a "Qualified
Plan" as defined by the  Employee  Retirement  Income  Security  Act of 1974 and
Independent  Retirement Accounts to exceed the limit allowable.  The Partnership
may redeem a certain  number of units each year.  As of December 31,  2000,  the
Partnership  had  repurchased  a cumulative  total of 121,580 units at a cost of
$1.6 million.  The General  Partner does not intend to repurchase any additional
units on behalf of the Partnership in the future.
















                      (this space intentionally left blank)



ITEM 6.  SELECTED FINANCIAL DATA

Table 2, below, lists selected financial data for the Partnership:
<TABLE>
<CAPTION>

                                                                TABLE 2

                                                   For the Years Ended December 31,
                                    (In thousands of dollars, except weighted-average unit amounts)

                                                  2000           1999           1998            1997            1996
                                               --------------------------------------------------------------------------

  Operating results:
<S>                                            <C>            <C>            <C>             <C>             <C>
    Total revenues                             $   4,847      $  14,651      $  10,768       $  16,378       $  22,120
    Net gain (loss) on disposition of
      equipment                                      303          6,357           (464)          2,830           3,179
    Loss on revaluation of equipment                 106             --             --              --              --
    Equity in net income (loss) of uncon-
      solidated special-purpose entities             673          2,224            348           2,952            (331)
    Net income (loss)                                897          6,408         (1,127)          2,098          (4,119)

  At year-end:
    Total assets                               $  12,863      $  20,185      $  31,250       $  46,089       $  59,009
    Total liabilities                                729            843         14,683          24,862          34,100
    Notes payable                                     --             --         12,750          21,000          29,250

  Cash distribution                            $   3,564      $   3,633      $   3,533       $   5,780       $   7,271
  Special cash distribution                        4,541             --             --              --              --

  Total cash distribution                      $   8,105      $   3,633      $   3,533       $   5,780       $   7,271

  Total cash distribution representing a
      return of capital to the limited
      partners                                 $   7,208      $       0      $   3,351       $   3,682       $   6,908

  Per weighted-average limited
      partnership unit:

  Net income (loss)                            $    0.06 1    $    0.72 1    $   (0.15)1     $    0.21 1     $   (0.52)1

  Cash distribution                            $    0.39      $    0.40      $    0.39       $    0.64       $    0.80
  Special cash distribution                         0.50             --             --              --              --

  Total cash distribution                      $    0.89      $    0.40      $    0.39       $    0.64       $    0.80

  Total cash distribution representing a
      return of capital to the limited
      partners                                 $    0.84      $     N/A      $    0.39       $    0.43       $    0.80


1    After  reduction of income of $359 ($0.04 per  weighted-average  depositary
     unit) in 2000, $138 ($0.02 per  weighted-average  depositary unit) in 1999,
     $238 ($0.03 per weighted-average  depositary unit) in 1998, $190 ($0.02 per
     weighted-average   depositary   unit)  in  1997,   and  $569   ($0.07   per
     weighted-average  depositary unit) in 1996, representing allocations to the
     General Partner (see Note 1 to the financial statements).

</TABLE>



ITEM 7    MANAGEMENT's  DISCUSSION  AND ANALYSIS OF FINANCIAL  CONDITION AND
          RESULTS OF OPERATIONS

(A)  Introduction

Management's  discussion  and  analysis of  financial  condition  and results of
operations  relates to the financial  statements of PLM Equipment Growth Fund IV
(the Partnership).  The following  discussion and analysis of operations focuses
on the  performance of the  Partnership's  equipment in the various  segments in
which  it  operates  and  its  effect  on the  Partnership's  overall  financial
condition.

(B)  Results of Operations - Factors Affecting Performance

(1)  Re-leasing Activity and Repricing Exposure to Current Economic Conditions

The exposure of the Partnership's  equipment  portfolio to repricing risk occurs
whenever the leases for the equipment expire or are otherwise terminated and the
equipment must be remarketed.  Major factors influencing the current market rate
for the  Partnership's  equipment  include  supply  and  demand  for  similar or
comparable  types of transport  capacity,  desirability  of the equipment in the
leasing market,  market conditions for the particular  industry segment in which
the  equipment  is  to be  leased,  overall  economic  conditions,  and  various
regulations  concerning the use of the equipment.  Equipment that is idle or out
of  service  between  the  expiration  of one  lease  and  the  assumption  of a
subsequent  lease can result in a reduction of contribution to the  Partnership.
The Partnership  experienced  re-leasing or repricing activity in 2000 primarily
in its aircraft, marine container, and railcars portfolios.

     (a) Aircraft:  The Partnership owns a Boeing 737-200 Stage II aircraft that
has been  off-lease  throughout  2000 and 1999.  This  aircraft was reclassed as
asset held for sale as of December 31, 2000.

     (b) The  Partnership's  remaining  marine container  portfolio  operates in
utilization-based  leasing  pools  and,  as such,  is  exposed  to  considerable
repricing activity.  The Partnership's marine container  contributions  declined
from 1999 to 2000 due to equipment sales during 1999 and 2000.

     (c) Railcars: The Partnership's railcar contributions declined from 1999 to
2000, due to equipment sales during 1999 and 2000.

(2)  Equipment Liquidations and Nonperforming Lessees

Liquidation  of  Partnership   equipment  and   investments  in   unconsolidated
special-purpose  entities  (USPEs)  represents  a  reduction  in the size of the
equipment  portfolio,  and will  result in  reduction  of  contributions  to the
Partnership.  Lessees not performing under the terms of their leases,  either by
not paying rent, not  maintaining or operating the equipment in accordance  with
the conditions of the leases, or other possible departures from the lease terms,
can result not only in reductions in net contribution,  but also may require the
Partnership  to assume  additional  costs to  protect  its  interests  under the
leases,  such as  repossession  or legal fees. The  Partnership  experienced the
following in 2000:

     (a)  Liquidations:   During  2000,  the  Partnership   disposed  of  marine
containers, railcars, and trailers, for proceeds of $1.9 million.

     (b)  Nonperforming  lessees:  In  1997,  the  Partnership  repossessed  one
aircraft  from a  lessee  that  did not  comply  with  the  terms  of the  lease
agreement.  The Partnership incurred legal fees,  repossession costs, and repair
costs associated with this aircraft. In addition,  the Partnership wrote off all
outstanding  receivables  from this  lessee.  This  aircraft  remained off lease
throughout  1999  and  2000  and was  reclassed  as  assets  held for sale as of
December 31, 2000.



(3)  Equipment Valuation

In accordance  with  Financial  Accounting  Standards  Board  statement No. 121,
"Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to
Be  Disposed  Of",  the  General  Partner  reviews  the  carrying  value  of the
Partnership's equipment portfolio at least quarterly, and whenever circumstances
indicate that the carrying  value of an asset may not be recoverable in relation
to  expected  future  market  conditions,  for  the  purpose  of  assessing  the
recoverability of the recorded amounts.  If projected  undiscounted  future cash
flows and fair value are lower than the carrying value of the equipment,  a loss
on  revaluation  is recorded.  A $0.1 million loss on  revaluation  was recorded
during 2000. No reductions  to the equipment  carrying  values were required for
the years ended December 31, 1999 or 1998.

(C) Financial  Condition -- Capital  Resources,  Liquidity,  and Unit Redemption
    Plan

The General Partner purchased the Partnership's initial equipment portfolio with
capital raised from its initial equity offering and permanent debt financing. No
further capital  contributions from the limited partners are permitted under the
terms of the Partnership's  limited  partnership  agreement.  As of December 31,
2000, the Partnership had no outstanding indebtedness. The Partnership relies on
operating  cash flow and proceeds  from sale of equipment to meet its  operating
obligations and make cash distributions to the limited partners.

For the year ended December 31, 2000, the Partnership  generated $3.3 million in
operating cash (net cash provided by operating  activities plus  non-liquidating
distributions   from  USPEs)  to  meet  its  operating   obligations   and  make
distributions  (total of $8.1  million in 2000) to the  partners,  but also used
undistributed available cash from prior periods including proceeds from the sale
of equipment of approximately $4.8 million.

During the year ended  December 31, 2000,  the  Partnership  sold or disposed of
marine  containers,  railcars,  and  trailers  for  aggregate  proceeds  of $1.9
million.

Accounts  payable  and  accrued  expenses  decreased  $0.1  million  due  to the
reduction of the equipment portfolio.

Investment in  unconsolidated  special-purpose  entities  (USPE)  decreased $0.3
million. The decrease was due to a $0.9 million distribution to the Partnership,
partially offset by net income from the USPE of $0.7 million during 2000.

The Partnership is in its active liquidation phase. As a result, the size of the
Partnership's remaining equipment portfolio and, in turn, the amount of net cash
flows from  operations will continue to become  progressively  smaller as assets
are sold. Although  distribution levels may be reduced,  significant asset sales
may result in potential special distributions to the partners.

Pursuant to the terms of the limited partnership agreement, beginning January 1,
1993, if the number of units made available for purchase by limited  partners in
any calendar  year exceeds the number that can be  purchased  with  reinvestment
plan proceeds during any calendar year, then the Partnership may redeem up to 2%
of the outstanding units each year, subject to certain terms and conditions. The
purchase  price  to be  offered  for  such  units  is to be equal to 110% of the
unrecovered principal attributed to the units.  Unrecovered principal is defined
as the  excess  of the  capital  contribution  attributable  to a unit  over the
distributions  from any source paid with respect to that unit.  The  Partnership
does not intend to repurchase any units in the future.

The General  Partner has not  planned any  expenditures,  nor is it aware of any
contingencies  that would  cause it to require  any  additional  capital to that
mentioned above.



(D)  Results of Operations - Year-to-Year Detailed Comparison

(1)  Comparison of Partnership's Operating  Results for the Years Ended December
     31, 2000 and 1999

(a)   Owned Equipment Operations

Lease  revenues  less  direct  expenses  (defined  as  repair  and  maintenance,
equipment operating,  and asset-specific  insurance expenses) on owned equipment
decreased  during the year ended December 31, 2000,  compared to the same period
of 1999. Gains or losses from the sale of equipment and certain expenses such as
depreciation and amortization and general and  administrative  expenses relating
to the operating segments (see Note 5 to the audited financial statements),  are
not included in the owned equipment  operation  discussion because they are more
indirect in nature,  not a result of operations  but more the result of owning a
portfolio of equipment.  The following table presents lease revenues less direct
expenses by segment (in thousands of dollars):

                                                         For the Years Ended
                                                            December 31,
                                                        2000             1999
                                                     ---------------------------
  Railcars                                           $  2,202         $  2,448
  Aircraft                                                648            1,061
  Trailers                                                428              786
  Marine containers                                        72              138
  Marine vessel                                            --              (81)

Railcars:  Railcar lease revenues and direct expenses were $2.9 million and $0.7
million,  respectively,  in 2000,  compared to $3.1  million  and $0.7  million,
respectively,  during 1999. The decrease in railcar contribution in 2000 was due
to the sale of railcars in 2000 and 1999.

Aircraft: Aircraft lease revenues and direct expenses were $0.8 million and $0.1
million,  respectively,  for the year ended December 31, 2000,  compared to $2.6
million and $1.5  million,  respectively,  during the same  period of 1999.  The
decrease in aircraft contribution in 2000 was due to the disposition of aircraft
in 1999.

Trailers:  Trailer lease revenues and direct expenses were $0.6 million and $0.2
million,  respectively,  for the year ended December 31, 2000,  compared to $1.1
million and $0.3  million,  respectively,  during the same  period of 1999.  The
decrease in trailer  contribution in 2000 was due to the disposition of trailers
in 1999 and 2000. All of the Partnership's trailers were sold during 2000.

Marine containers: Marine container lease revenues and direct expenses were $0.1
million and $6,000, respectively,  in 2000, compared to $0.1 million and $5,000,
respectively,  during 1999. The decrease in marine  containers  contribution  in
2000 was due to the disposition of marine containers in 1999 and 2000.

Marine  vessel:  Marine vessel lease  revenues and direct  expenses were zero in
2000,  compared to $1.1 million and $1.1  million,  respectively,  in 1999.  The
decrease in lease  revenues and direct  expenses in 2000,  compared to 1999, was
due to the sale of the remaining marine vessel in the fourth quarter of 1999.

(b)  Indirect Expenses Related to Owned Equipment Operations

Total  indirect  expenses of $3.5 million for the year ended  December 31, 2000,
decreased  from  $6.7  million  for the same  period  in 1999.  The  significant
variances are explained as follows:

     (i) A $2.0 million decrease in depreciation and amortization  expenses from
1999 levels resulted from the sale of certain assets during 2000 and 1999.

     (ii)A $1.0 million decrease in interest expense was due to the repayment of
the Partnership's debt in 1999.

     (iii) A $0.2 million decrease in general and  administrative  expenses from
1999 levels was due to the reduction of the size of the Partnership's  equipment
portfolio.

     (iv)A $0.2 million decrease in management fees to an affiliate reflects the
lower levels of lease revenues on owned equipment in 2000, compared to 1999.

     (v) A $0.1 million  increase in bad debt  expenses in 2000 compared to 1999
was due to fewer recoveries of doubtful  accounts in 2000 compared to 1999. $0.2
million was collected from unpaid invoices that had previously been reserved for
as bad debts during 2000 compared to the collection of $0.3 million in 1999.

     (vi)An  increase of $0.1 million in revaluation of equipment was due to the
loss on revaluation  of trailer  equipment in 2000. A similar loss did not occur
in 1999.

(c)  Net Gain on Disposition of Owned Equipment

The net gain on  disposition  of equipment in 2000 totaled $0.3  million,  which
resulted  from the sale of  railcars,  trailers  and marine  containers  with an
aggregate  net book  value  of $1.6  million,  for  aggregate  proceeds  of $1.9
million.  The net gain on  disposition of equipment in 1999 totaled $6.4 million
that resulted from the sale of a marine vessel, aircraft, railcars, trailers and
marine  containers  with an  aggregate  net  book  value  of $8.8  million,  for
aggregate proceeds of $15.2 million

(d)  Equity in Net Income of Unconsolidated Special Purpose Entities

Net income  generated from the operation of  jointly-owned  assets accounted for
under the equity  method is shown in the following  table by equipment  type (in
thousands of dollars):

                                                         For the Years Ended
                                                            December 31,
                                                        2000             1999
                                                     ---------------------------
  Aircraft                                           $    538         $    470
  Marine vessels                                          135            1,754
                                                     ---------------------------
    Equity in Net Income of USPEs                    $    673         $  2,224
                                                     ===========================

Aircraft: As of December 31, 2000 and 1999, the Partnership had an interest in a
trust  that owns two  commercial  aircraft  on direct  finance  lease.  Aircraft
revenues  and expenses  were $0.5 million and a credit of $3,000,  respectively,
for the year ended December 31, 2000, compared to $0.6 million and $0.1 million,
respectively,  during the same period in 1999. The aircraft  revenues  decreased
$0.1 million due to decreasing  finance lease receivable based on lease payments
schedules. The Partnership's share of expenses decreased $0.1 million due to the
increase in bad debt expense to reflect the General Partner's  evaluation of the
collectibility of receivables due from the aircraft's lessee.

Marine  vessel:  As of December  31,  2000,  the  Partnership  had no  remaining
interests in entities that owned marine vessels.  During the year ended December
31, 2000,  marine  vessel  revenues of $0.1 million  resulted  from an insurance
settlement.  During the year ended  December  31, 1999,  lease  revenues of $1.1
million and the gain of $1.9 million from the sale of the Partnership's interest
in an entity that owned a marine vessel were offset by depreciation,  direct and
administrative  expenses of $1.2 million.  The decrease in income from an entity
that owned marine vessels was due to the sale of the  Partnership's  interest in
an entity that owned a marine vessel in 1999.

(e)  Net Income

As a result of the foregoing,  the Partnership's net income was $0.9 million for
the year ended  December  31,  2000,  compared to $6.4  million  during the same
period of 1999.  The  Partnership's  ability to operate  and  liquidate  assets,
secure leases,  and re-lease those assets whose leases expire is subject to many
factors,  and the Partnership's  performance in the year ended December 31, 2000
is not necessarily  indicative of future periods. In the year ended December 31,
2000, the Partnership distributed $7.7 million to the limited partners, or $0.89
per weighted-average limited partnership unit.



(2)  Comparison of Partnership's  Operating Results for the Years Ended December
     31, 1999 and 1998

(a)   Owned Equipment Operations

Lease  revenues  less  direct  expenses  (defined  as  repair  and  maintenance,
equipment operating,  and asset-specific  insurance expenses) on owned equipment
decreased  during the year ended December 31, 1999,  compared to the same period
of 1998. The following  table  presents  lease revenues less direct  expenses by
segment (in thousands of dollars):

                                                        For the Years Ended
                                                           December 31,
                                                       1999             1998
                                                    ----------------------------
  Railcars                                          $  2,448         $  2,607
  Aircraft                                             1,061            3,038
  Trailers                                               786            1,132
  Marine containers                                      138              712
  Marine vessel                                          (81)             623

Railcars:  Railcar lease revenues and direct expenses were $3.1 million and $0.7
million,  respectively,  in 1999,  compared to $3.5  million  and $0.9  million,
respectively,  during 1998. The decrease in railcar contribution in 1999 was due
to the sale or disposition of railcars in 1998 and 1999.

Aircraft: Aircraft lease revenues and direct expenses were $2.6 million and $1.5
million,  respectively,  for the year ended December 31, 1999,  compared to $3.5
million and $0.4 million,  respectively,  during the same period of 1998.  Lease
revenue  decreased in 1999,  compared to the same period in 1998 due to the sale
of aircraft in 1999. Direct expenses  increased due to higher costs incurred for
repairs on an off-lease  aircraft in 1999,  when  compared to the same period in
1998.

Trailers:  Trailer lease revenues and direct expenses were $1.1 million and $0.3
million,  respectively,  for the year ended December 31, 1999,  compared to $1.6
million and $0.4 million,  respectively,  during the same period of 1998. During
the year ended  December 31, 1999,  certain dry trailers  were in the process of
transitioning to a new PLM-affiliated short-term rental facility specializing in
this type of  trailer  causing  lease  revenues  for this group of  trailers  to
decrease  $0.1  million when  compared to the same period of 1998.  In addition,
lease revenue  decreased $0.4 million due to sales and  dispositions of trailers
during 1999 and 1998.  Trailer  repairs and  maintenance  decreased $0.1 million
primarily  due to required  repairs  during 1998 that were not needed during the
same period of 1999.

Marine containers: Marine container lease revenues and direct expenses were $0.1
million and $5,000, respectively,  in 1999, compared to $0.7 million and $8,000,
respectively, during 1998. Marine container contributions decreased $0.2 million
due to the  disposition  of  containers  in 1998 and 1999.  In addition,  marine
container  contributions  decreased  $0.4  million due to a group of  containers
being off lease during 1999 which were on-lease for all of 1998.

Marine  vessel:  Marine  vessel  lease  revenues and direct  expenses  were $1.1
million and $1.1 million,  respectively,  in 1999,  compared to $1.7 million and
$1.0 million,  respectively,  in 1998. Marine vessel  contribution  decreased in
1999,  compared to 1998,  due to the sale of the remaining  marine vessel in the
fourth  quarter  of  1999.  Direct  expenses  increased  in 1999  due to  higher
operating expenses compared to the same period in 1998.

(b)  Indirect Expenses Related to Owned Equipment Operations

Total  indirect  expenses of $6.7 million for the year ended  December 31, 1999,
decreased  from  $9.3  million  for the same  period  in 1998.  The  significant
variances are explained as follows:

     (i) A $1.5 million decrease in depreciation and amortization  expenses from
1998 levels resulted from an approximately $0.6 million decrease due to the sale
of  certain  assets  during  1999  and 1998 and an  approximately  $0.9  million
decrease  resulting from the use of the  double-declining  balance  depreciation
method which results in greater depreciation the first years an asset is owned.


     (ii)A $0.6  million  decrease in interest  expense was due to a decrease of
$0.7 million resulting from lower average  borrowings  outstanding  during 1999,
compared to 1998. This decrease was offset by an increase in interest expense of
$0.1  million as a result of the  prepayment  penalty.  In the third  quarter of
1999, the Partnership paid the regularly  scheduled annual principal  payment of
$8.3  million  of the  outstanding  debt.  In  addition,  in  December  1999 the
Partnership prepaid the remaining principal balance of $4.5 million.

     (iii) A $0.3 million decrease in bad debt expenses in 1999 compared to 1998
was primarily due to the collection of $0.3 million from unpaid invoices in 1999
that had previously been reserved for as bad debts.

     (iv)A  $0.1  million  decrease  in  management  fees to an  affiliate  that
reflects the lower  levels of lease  revenues on owned  equipment in 1999,  when
compared to 1998.

(c)  Net Gain (Loss) on Disposition of Owned Equipment

The net gain on  disposition  of equipment in 1999 totaled $6.4  million,  which
resulted  from the sale of a marine  vessel,  aircraft,  railcars,  trailers and
marine  containers  with an  aggregate  net  book  value  of $8.8  million,  for
aggregate  proceeds  of $15.2  million.  In 1998,  the  loss on  disposition  of
equipment totaled $0.5 million,  which resulted from the sale of trailers with a
net book value of $1.4 million,  for proceeds of $0.9 million. In addition,  the
Partnership sold or disposed of marine containers and railcars with an aggregate
net book value of $0.6 million, for aggregate proceeds of $0.6 million.

(d)  Equity in Net Income of Unconsolidated Special Purpose Entities

Net income (loss) generated from the operation of jointly-owned assets accounted
for under the equity  method is shown in the following  table by equipment  type
(in thousands of dollars):

                                                       For the Years Ended
                                                          December 31,
                                                      1999             1998
                                                   ----------------------------
  Marine vessels                                   $  1,754         $   (306)
  Aircraft                                              470              654
                                                   ----------------------------
    Equity in Net Income of USPEs                  $  2,224         $    348
                                                   ============================

Marine vessel:  During the year ended December 31, 1999,  lease revenues of $1.1
million  and the gain from the sale of the  Partnership's  interest in an entity
owning a marine  vessel of $1.9 million sold in the fourth  quarter of 1999 were
offset by  depreciation,  direct and  administrative  expenses of $1.2  million.
During the year ended December 31, 1998, revenues of $1.2 million were offset by
depreciation,  direct  and  administrative  expenses  of  $1.5  million.  Direct
expenses decreased $0.1 million due to lower required scheduled drydock expenses
in 1999 compared to 1998. In addition,  direct  expenses  decreased $0.1 million
due to certain repairs  required in 1998 that were not necessary in 1999.  Also,
expenses decreased $0.1 million for the year ended December 31, 1999 compared to
the same period in 1998,  due to lower  depreciation  expense as a result of the
double  declining-balance  method  of  depreciation  which  results  in  greater
depreciation in the first years an asset is owned.

Aircraft: As of December 31, 1999 and 1998, the Partnership had an interest in a
trust  that owns two  commercial  aircraft  on direct  finance  lease.  Aircraft
revenues and expenses  were $0.6  million and $0.1,  respectively,  for the year
ended December 31, 1999, compared to $0.6 million and $0,  respectively,  during
the same period in 1998.  The  Partnership's  share of expenses  increased  $0.1
million due to the increase in bad debt expense to reflect the General Partner's
evaluation of the collectibility of receivables due from the aircraft's lessee.

(e)  Net Income (Loss)

As a result of the foregoing,  the Partnership's net income was $6.4 million for
the year ended December 31, 1999,  compared to a net loss of $1.1 million during
the same period of 1998.  The  Partnership's  ability to operate  and  liquidate
assets,  secure leases, and re-lease those assets whose leases expire is subject
to many factors,  and the  Partnership's  performance in the year ended December
31, 1999 is not  necessarily  indicative  of future  periods.  In the year ended
December  31,  1999,  the  Partnership  distributed  $3.5 million to the limited
partners, or $0.40 per weighted-average limited partnership unit.

(E)  Geographic Information

Certain  of the  Partnership's  equipment  operates  in  international  markets.
Although these operations expose the Partnership to certain currency, political,
credit, and economic risks, the General Partner believes these risks are minimal
or has  implemented  strategies  to control the risks.  Currency  risks are at a
minimum because all invoicing,  with the exception of a small number of railcars
operating in Canada, is conducted in U.S. dollars. Political risks are minimized
generally  through the avoidance of  operations in countries  that do not have a
stable judicial system and established  commercial business laws. Credit support
strategies  for lessees range from letters of credit  supported by U.S. banks to
cash  deposits.  Although these credit support  mechanisms  generally  allow the
Partnership  to  maintain  its lease  yield,  there are  risks  associated  with
slow-to-respond  judicial  systems  when legal  remedies  are required to secure
payment or repossess equipment. Economic risks are inherent in all international
markets,  and the  General  Partner  strives to  minimize  this risk with market
analysis prior to committing equipment to a particular geographic area. Refer to
Note 6 to the audited financial statements for information on the revenues,  net
income (loss), and net book value of equipment in various geographic regions.

Revenues and net operating income by geographic  region are impacted by the time
period  the  asset is owned  and the  useful  life  ascribed  to the  asset  for
depreciation  purposes.  Net  income  (loss)  from  equipment  is  significantly
impacted  by  depreciation  charges,  which are  greatest  in the early years of
ownership due to the use of the double-declining balance method of depreciation.
The relationships of geographic revenues,  net income (loss), and net book value
of equipment are expected to  significantly  change in the future as assets come
off  lease and  decisions  are made to either  redeploy  the  assets in the most
advantageous  geographic  location,  or sell the assets.  An  explanation of the
current relationships is presented below.

The  Partnership's  owned  equipment on lease to United States  (U.S.)-domiciled
lessees  consists of trailers and railcars.  During 2000,  U.S.  lease  revenues
accounted for 21% of the total lease  revenues  from wholly and partially  owned
equipment. U.S. operations resulted in a net loss of $0.5 million.

The  Partnership's  owned  equipment  on  lease  to  Canadian-domiciled  lessees
consists  of  railcars  and  aircraft.  During  2000,  Canadian  lease  revenues
accounted for 77% of the total lease  revenues  from wholly and partially  owned
equipment. Canadian operations generated a net income of $1.3 million.

The  Partnership's  owned equipment on lease to lessees in the rest of the world
consisted of marine  containers.  During 2000,  lease revenues for these lessees
accounted for 2% of the total lease  revenues  from wholly and  partially  owned
equipment. Net loss from this region was $0.1 million.

(F)  Inflation

Inflation had no significant impact on the Partnership's operations during 2000,
1999, or 1998.

(G)  Forward-Looking Information

Except for historical  information contained herein, the discussion in this Form
10-K contains  forward-looking  statements that involve risks and uncertainties,
such as statements of the Partnership's  plans,  objectives,  expectations,  and
intentions.  The cautionary  statements made in this Form 10-K should be read as
being applicable to all related forward-looking  statements wherever they appear
in this Form 10-K. The Partnership's actual results could differ materially from
those discussed here.

(H)  Outlook for the Future

The  Partnership  is in its active  liquidation  phase.  The General  Partner is
seeking to  selectively  re-lease or sell assets as the existing  leases expire.
Sale  decisions  will cause the  operating  performance  of the  Partnership  to
decline over the remainder of its life. The General Partner anticipates that the
liquidation of Partnership assets will be completed by the end of the year 2001.

Several factors may affect the Partnership's  operating  performance in the year
2001,  including  changes in the markets  for the  Partnership's  equipment  and
changes in the regulatory environment in which that equipment operates.

Liquidation  of the  Partnership's  equipment and its  investment in a USPE will
cause a reduction  in the size of the  equipment  portfolio  and may result in a
reduction of  contribution  to the  Partnership.  Other  factors  affecting  the
Partnership's contribution in the year 2001 include:

1. One of the Partnership's  aircraft has been off-lease for approximately three
years. This Stage II aircraft required extensive repairs and maintenance and the
Partnership has had difficulty selling its aircraft. This aircraft was reclassed
to an asset held for sale as of December 31, 2000.

2.  The  Partnership's  fleet  of  both  standard  dry  and  specialized  marine
containers  is in  excess  of  twelve  years of age and is  generally  no longer
suitable for use in international  commerce either due to its specific  physical
condition,   or  lessees  preferences  for  newer  equipment.   Demand  for  the
Partnership's  marine  containers will continue to be weak due to the age of the
fleet.

3. The softening in the railcars market has lead to lower  utilization and lower
contribution to the Partnership as existing leases expire and renewal leases are
negotiated.

The  ability  of the  Partnership  to  realize  acceptable  lease  rates  on its
equipment in the different equipment markets is contingent on many factors, such
as specific market conditions and economic activity, technological obsolescence,
and government or other regulations.  The General Partner  continually  monitors
both the equipment markets and the performance of the Partnership's equipment in
these  markets.  The  General  Partner  may make an  evaluation  to  reduce  the
Partnership's  exposure  to  equipment  markets in which it  determines  that it
cannot operate equipment and achieve acceptable rates of return.

The  Partnership  intends to use cash flow from  operations  and  proceeds  from
disposition of equipment to satisfy its operating requirements, maintain working
capital reserves, and pay cash distributions to the investors.

Several other factors may affect the Partnership's  operating performance in the
year 2001, including changes in the markets for the Partnership's  equipment and
changes in the regulatory environment in which that equipment operates.

(1)  Repricing Risk

Certain of the  Partnership's  marine containers and railcars will be remarketed
in 2001 as existing  leases expire,  exposing the  Partnership to some repricing
risk/opportunity. Additionally, the Partnership entered its liquidation phase on
January 1, 1999 and has commenced an orderly  liquidation  of the  Partnership's
assets.  In either  case,  the  General  Partner  intends to sell  equipment  at
prevailing  market rates;  however,  the General  Partner  cannot  predict these
future rates with any certainty at this time, and cannot  accurately  assess the
effect of such activity on future Partnership performance.

(2)  Impact of Government Regulations on Future Operations

The General  Partner  operates the  Partnership's  equipment in accordance  with
current applicable regulations (see Item 1, Section E, Government  Regulations).
However, the continuing implementation of new or modified regulations by some of
the  authorities  mentioned  previously,  or others,  may  adversely  affect the
Partnership's  ability to continue to own or operate equipment in its portfolio.
Additionally,  regulatory  systems  vary  from  country  to  country,  which may
increase the burden to the Partnership of meeting regulatory  compliance for the
same equipment  operated  between  countries.  Ongoing changes in the regulatory
environment, both in the United States and internationally,  cannot be predicted
with any accuracy and preclude the General  Partner from  determining the impact
of such changes on  Partnership  operations,  or sale of  equipment.  Under U.S.
Federal Aviation  Regulations,  after December 31, 1999, no person shall operate
an aircraft to or from any airport in the  contiguous  United States unless that
airplane has been shown to comply with Stage III noise levels.  The  Partnership
has Stage II aircraft that does not meet Stage III requirements.  As of December
31, 2000,  this aircraft was  reclassed to an asset held for sale.  Furthermore,
the Federal  Railroad  Administration  has mandated that effective July 1, 2000,
all tank railcars must be  re-qualified  every ten years from the last test date
stenciled on each railcar to insure tank shell integrity.  Tank shell thickness,
weld seams,  and weld attachments must be inspected and repaired if necessary to
re-qualify a tank railcar for service.  The average cost of this  inspection  is
$1,800 for non-jacketed tank railcars and $3,600 for jacketed tank railcars, not
including any necessary repairs.  This inspection is to be performed at the next
scheduled tank test and every ten years  thereafter.  The Partnership  currently
owns 214  non-jacketed  tank  railcars and 87 jacketed  tank railcars of which a
total of 10 tank railcars have been inspected with no reportable defects.

(3) Distributions

During the active  liquidation  phase,  the Partnership  will use operating cash
flow and proceeds from the sale of equipment to meet its operating  obligations,
and make distributions to the partners.  Although the General Partner intends to
maintain a sustainable level of distributions  prior to final liquidation of the
Partnership, actual Partnership performance and other considerations may require
adjustments to then-existing  distribution  levels.  In the long term,  changing
market  conditions and used equipment  values  preclude the General Partner from
accurately  determining the impact of future  re-leasing  activity and equipment
sales on Partnership performance and liquidity.

Since the Partnership has entered the active  liquidation phase, the size of the
Partnership's remaining equipment portfolio and, in turn, the amount of net cash
flows from  operations will continue to become  progressively  smaller as assets
are sold. Although  distribution levels may be reduced,  significant asset sales
may result in special distributions to unitholders.

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The Partnership's  primary market risk exposure is that of currency  devaluation
risk.  During 2000, 79% of the  Partnership's  total lease revenues from wholly-
and  partially-owned  equipment came from non-United  States domiciled  lessees.
Most of the leases require  payment in United States (U.S.)  currency.  If these
lessees currency devalues against the U.S. dollar, the lessees could potentially
encounter difficulty in making the U.S. dollar denominated lease payment.

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

The  financial  statements  for the  Partnership  are  listed  in the  Index  to
Financial Statements included in Item 14(a) of this Annual Report on Form 10-K.

ITEM  9.  CHANGES  IN AND  DISAGREEMENTS  WITH  ACCOUNTANTS  ON  ACCOUNTING  AND
          FINANCIAL DISCLOSURE

None.









                     (This space intentionally left blank.)


                                    PART III

ITEM 10.   DIRECTORS AND EXECUTIVE OFFICERS OF PLM FINANCIAL SERVICES, INC.

As of the date of this annual  report,  the directors and executive  officers of
PLM Financial  Services,  Inc. (and key executive  officers of its subsidiaries)
are as follows:
<TABLE>
<CAPTION>

Name                     Age          Position
------------------------ ------------ ------------------------------------------------------------------

<S>                      <C>
Stephen M. Bess          55           President, PLM Financial Services, Inc., PLM Investment
                                      Management, Inc. and PLM Transportation Equipment Corporation,
                                      Director of PLM Financial Services, Inc.

Richard K Brock          38           Vice President and Chief Financial Officer, PLM Financial
                                      Services, Inc., PLM Investment Management, Inc. and PLM
                                      Transportation Equipment Corporation, Director of PLM Financial
                                      Services, Inc.

Susan C. Santo           38           Vice President, Secretary, and General Counsel, PLM Financial
                                      Services, Inc., Director of PLM Financial Services, Inc.
</TABLE>

Stephen M. Bess was appointed a Director of PLM Financial Services, Inc. in July
1997.  Mr. Bess has served as President of PLM Investment  Management,  Inc., an
indirect wholly-owned subsidiary of PLM International, since August 1989, and as
an executive  officer of certain other of PLM  International's  subsidiaries  or
affiliates since 1982.

Richard K Brock was  appointed a Director  of PLM  Financial  Services,  Inc. in
October 1, 2000. Mr. Brock was appointed as Vice  President and Chief  Financial
Officer of PLM International and PLM Financial  Services,  Inc. in January 2000,
having  served as Acting  Chief  Financial  Officer  since June 1999 and as Vice
President  and  Corporate  Controller  of PLM  International  and PLM  Financial
Services,  Inc.  since June 1997.  Prior to June 1997,  Mr.  Brock  served as an
accounting  manager  beginning in September 1991 and as Director of Planning and
General Accounting beginning in February 1994.

Susan C. Santo was  appointed  a Director of PLM  Financial  Services,  Inc.,  a
subsidiary of PLM International, in October 1, 2000. Miss Santo was appointed as
Vice  President,  Secretary,  and General Counsel of PLM  International  and PLM
Financial Services, Inc. in November 1997. She has worked as an attorney for PLM
International  and PLM  Financial  Services,  Inc.  since 1990 and served as its
Senior Attorney from 1994 until her appointment as General Counsel.

The directors of PLM Financial Services, Inc. are elected for a one-year term or
until their successors are elected and qualified.  No family relationships exist
between any director or executive officer of PLM Financial  Services,  Inc., PLM
Transportation Equipment Corp., or PLM Investment Management, Inc.

ITEM 11. EXECUTIVE COMPENSATION

The Partnership has no directors,  officers,  or employees.  The Partnership has
no pension, profit sharing,  retirement, or similar benefit plan in effect as of
December 31, 2000.

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

     (A)  Security Ownership of Certain Beneficial Owners

          The  General  Partner is  generally  entitled  to a 5% interest in the
          profits and losses and  distributions  of the  Partnership  subject to
          certain  allocations  of income.  As of December 31, 2000, no investor
          was known by the General Partner to  beneficially  own more than 5% of
          the limited partnership units.


     (B)  Security Ownership of Management

          Neither  the  General  Partner and its  affiliates  nor any  executive
          officer or director of the General  Partner and its affiliates own any
          limited partnership units of the Partnership as of December 31, 2000.

ITEM 13.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

          Transactions with Management and Others

          During 2000, management fees to PLM Investment Management,  Inc. (IMI)
          were $0.3 million. The Partnership  reimbursed PLM Financial Services,
          Inc. (FSI) and its affiliates $0.4 million for administrative and data
          processing services performed on behalf of the Partnership in 2000.

          During 2000,  the USPEs paid or accrued the  following  fees to FSI or
          its  affiliates  (based  on the  Partnership's  proportional  share of
          ownership):  management fees,  $17,000,  and  administrative  and data
          processing services, $5,000.



















                      (this space intentionally left blank)



                                     PART IV

ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K

     (A)  1. Financial Statements

          The financial statements listed in the accompanying Index to Financial
          Statements are filed as part of this Annual Report on Form 10-K.

          2. Financial Statements required under Regulation S-X Rule 3-09

          The  following  financial  statements  are filed as  Exhibits  of this
          Annual Report on Form 10K:

          a.  Aero  California  Trust
          b.  Canadian  Air  Trust #2
          c.  Montgomery Partnership

     (B)  Financial Statement Schedules

          Schedule II Valuation Accounts

          All other  financial  statement  schedules  have been omitted,  as the
          required  information  is not  pertinent to the  registrant  or is not
          material,  or because  the  information  required  is  included in the
          financial statements and notes thereto.

     (C)  Reports on Form 8-K

          None.

     (D)  Exhibits

          4.   Limited  Partnership  Agreement of  Registrant,  incorporated  by
               reference to the Partnership's Registration Statement on Form S-1
               (Reg. No.  33-27746),  which became effective with the Securities
               and Exchange Commission on May 23, 1989.

          10.1 Management  Agreement  between  Partnership  and  PLM  Investment
               Management, Inc.,  incorporated by reference to the Partnership's
               Registration  Statement  on Form S-1  (Reg. No. 33-27746),  which
               became  effective with the Securities and Exchange  Commission on
               May 23, 1989.

          24.  Powers of Attorney.

          Financial Statements required under Regulation S-X Rule 3-09:

          99.1 Aero California Trust.

          99.2 Canadian Air Trust #2.

          99.3 Montgomery Partnership.







                                   SIGNATURES

Pursuant to the  requirements of Section 13 or 15(d) of the Securities  Exchange
Act of 1934,  the  Partnership  has duly  caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.

The Partnership has no directors or officers.  The General Partner has signed on
behalf of the Partnership by duly authorized officers.



Date:  March 12, 2001           PLM EQUIPMENT GROWTH FUND IV
                                PARTNERSHIP

                                By:      PLM Financial Services, Inc.
                                         General Partner


                                By:      /s/ Stephen M. Bess
                                         Stephen M. Bess
                                         President and Chief Executive Officer


                                By:      /s/ Richard K Brock
                                         Richard K Brock
                                         Chief Financial Officer



Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the following  directors of the  Partnership's  General
Partner on the dates indicated.


Name                Capacity                            Date


*
Stephen M. Bess     Director, FSI                       March 12, 2001


*
Richard K Brock     Director, FSI                       March 12, 2001


*
Susan C. Santo      Director, FSI                       March 12, 2001


*Susan Santo,  by signing her name hereto,  does sign this document on behalf of
the persons indicated above pursuant to powers of attorney duly executed by such
persons and filed with the Securities and Exchange Commission.



/s/ Susan C. Santo
Susan C. Santo
Attorney-in-Fact



                          PLM EQUIPMENT GROWTH FUND IV
                             (A Limited Partnership)
                          INDEX TO FINANCIAL STATEMENTS


                                  (Item 14(a))


                                                                           Page

Independent auditors' report                                                25

Balance sheets as of December 31, 2000 and 1999                             26

Statements of operations for the years ended
     December 31, 2000, 1999, and 1998                                      27

Statements of changes in partners' capital for the years
     ended December 31, 2000, 1999, and 1998                                28

Statements of cash flows for the years ended
     December 31, 2000, 1999, and 1998                                      29

Notes to financial statements                                              30-41

Independent auditor report on financial statement schedule                  42

Schedule II Valuation Accounts                                              43


                          INDEPENDENT AUDITORS' REPORT


The Partners
PLM Equipment Growth Fund IV:

We have audited the  accompanying  financial  statements of PLM Equipment Growth
Fund IV (the  Partnership) as listed in the accompanying  index to the financial
statements.   These  financial   statements  are  the   responsibility   of  the
Partnership's  management.  Our responsibility is to express an opinion on these
financial statements based on our audits.

We have  conducted our audits in accordance  with auditing  standards  generally
accepted in the United States of America.  Those standards  require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement.  An audit includes examining, on a
test basis,  evidence  supporting  the amounts and  disclosures in the financial
statements.  An audit also includes assessing the accounting principles used and
significant  estimates  made by  management,  as well as evaluating  the overall
financial  statement  presentation.   We  believe  that  our  audits  provide  a
reasonable basis for our opinion.

As described in Note 1 to the financial  statements,  PLM Equipment  Growth Fund
IV,  in  accordance  with  the  limited  partnership   agreement,   entered  its
liquidation phase on January 1, 1999 and has commenced an orderly liquidation of
the Partnership  assets.  The  Partnership  will terminate on December 31, 2009,
unless terminated earlier upon sale of all equipment or by certain other events.
The General Partner  anticipates that the liquidation of Partnership assets will
be completed by the end of the year 2001.

In our opinion,  the financial  statements  referred to above present fairly, in
all material respects, the financial position of PLM Equipment Growth Fund IV as
of December  31, 2000 and 1999 and the  results of its  operations  and its cash
flows for each of the years in the three-year period ended December 31, 2000, in
conformity with accounting principles generally accepted in the United States of
America.



/s/  KPMG LLP

SAN FRANCISCO, CALIFORNIA
March 2, 2001



                          PLM EQUIPMENT GROWTH FUND IV
                             (A LIMITED PARTNERSHIP)
                                 BALANCE SHEETS
                                  DECEMBER 31,
                 (IN THOUSANDS OF DOLLARS, EXCEPT UNIT AMOUNTS)

<TABLE>
<CAPTION>


                                                                             2000                1999
                                                                         ---------------------------------
  Assets

<S>                                                                      <C>                   <C>
  Equipment held for operating leases, at cost                           $   18,003            $  45,468
  Less accumulated depreciation                                             (13,436 )            (34,920)
                                                                         ---------------------------------
                                                                              4,567               10,548
  Equipment held for sale                                                     1,931                   --
  --------------------------------------------------------------------------------------------------------
      Net equipment                                                           6,498               10,548

  Cash and cash equivalents                                                   2,742                5,587
  Restricted cash                                                               272                  147
  Accounts receivable, less allowance for doubtful
      accounts of $5 in 2000 and $2,843 in 1999                                 171                  440
  Investments in unconsolidated special-purpose entities                      3,143                3,415
  Prepaid expenses and other assets                                              37                   48
                                                                         ---------------------------------

        Total assets                                                     $   12,863            $  20,185
                                                                         =================================

  Liabilities and partners' capital

  Liabilities
  Accounts payable and accrued expenses                                  $      186            $     292
  Due to affiliates                                                             174                  211
  Lessee deposits and reserve for repairs                                       369                  340
                                                                         ---------------------------------
    Total liabilities                                                           729                  843

  Partners' capital
  Limited partners (8,628,420 limited partnership units
      as of December 31, 2000 and 1999)                                      12,134               19,342
  General Partner                                                                --                   --
                                                                         ---------------------------------
    Total partners' capital                                                  12,134               19,342
                                                                         ---------------------------------

        Total liabilities and partners' capital                          $   12,863            $  20,185
                                                                         =================================

</TABLE>
















                 See accompanying notes to financial statements.



                          PLM EQUIPMENT GROWTH FUND IV
                             (A LIMITED PARTNERSHIP)
                            STATEMENTS OF OPERATIONS
                        FOR THE YEARS ENDED DECEMBER 31,
         (IN THOUSANDS OF DOLLARS EXCEPT WEIGHTED-AVERAGE UNIT AMOUNTS)

<TABLE>
<CAPTION>

                                                                            2000            1999           1998
                                                                         -------------------------------------------
  Revenues

<S>                                                                      <C>             <C>            <C>
  Lease revenue                                                          $   4,385       $   8,054      $  10,981
  Interest and other income                                                    159             240            251
  Net gain (loss) on disposition of equipment                                  303           6,357           (464)
                                                                         -------------------------------------------
    Total revenues                                                           4,847          14,651         10,768

  Expenses

  Depreciation and amortization                                              2,320           4,291          5,802
  Repairs and maintenance                                                      982           2,838          1,905
  Equipment operating expenses                                                  34             797            805
  Insurance expense to affiliate                                                --              --            (88)
  Other insurance expenses                                                      85             102            285
  Management fees to affiliate                                                 274             475            622
  Interest expense                                                              --           1,016          1,652
  General and administrative expenses to affiliates                            395             530            584
  Other general and administrative expenses                                    609             691            667
  (Recovery of) provision for bad debts                                       (182)           (273)             9
  Loss on revaluation of equipment                                             106              --             --
                                                                         -------------------------------------------
        Total expenses                                                       4,623          10,467         12,243

  Equity in net income of unconsolidated
      special-purpose entities                                                 673           2,224            348
                                                                         -------------------------------------------

        Net income (loss)                                                $     897       $   6,408      $  (1,127)
                                                                         ===========================================

  Partners' share of net income (loss)

  Limited partners                                                       $     492       $   6,226      $  (1,309)
  General Partner                                                              405             182            182
                                                                         -------------------------------------------

        Total                                                            $     897       $   6,408      $  (1,127)
                                                                         ===========================================

  Limited partners' net income (loss) per weighted-average
    partnership unit                                                     $    0.06       $    0.72      $   (0.15)
                                                                         ===========================================

  Cash distribution                                                      $   3,564       $   3,633      $   3,533
  Special cash distribution                                                  4,541              --             --
                                                                         -------------------------------------------
  Total distribution                                                     $   8,105       $   3,633      $   3,533
                                                                         ===========================================

  Per weighted-average partnership unit:
  Cash distribution                                                      $    0.39       $    0.40      $    0.39
  Special cash distribution                                                   0.50              --             --
                                                                         -------------------------------------------
  Total distribution per weighted-average partnership unit               $    0.89       $    0.40      $    0.39
                                                                         ===========================================

</TABLE>



                 See accompanying notes to financial statements.



                          PLM EQUIPMENT GROWTH FUND IV
                             (A LIMITED PARTNERSHIP)
                   STATEMENTS OF CHANGES IN PARTNERS' CAPITAL
              FOR THE YEARS ENDED DECEMBER 31, 2000, 1999, AND 1998
                            (IN THOUSANDS OF DOLLARS)

<TABLE>
<CAPTION>


                                                         Limited            General
                                                         Partners           Partner            Total
                                                       -------------------------------------------------

<S>                                                    <C>                 <C>              <C>
    Partners' capital as of December 31, 1997          $   21,227          $    --          $  21,227

  Net income (loss)                                        (1,309)             182             (1,127)

  Cash distribution                                        (3,351)            (182)            (3,533)
                                                       -------------------------------------------------

    Partners' capital as of December 31, 1998              16,567               --             16,567

  Net income (loss)                                         6,226              182              6,408

  Cash distribution                                        (3,451)            (182)            (3,633)
                                                       -------------------------------------------------

    Partners' capital as of December 31, 1999              19,342               --             19,342

  Net income                                                  492              405                897

  Cash distribution                                        (3,386)            (178)            (3,564)

  Special cash distribution                                (4,314)            (227)            (4,541)

                                                       -------------------------------------------------
    Partners' capital as of December 31, 2000          $   12,134          $    --          $  12,134
                                                       =================================================
</TABLE>


























                 See accompanying notes to financial statements.



                          PLM EQUIPMENT GROWTH FUND IV
                             (A LIMITED PARTNERSHIP)
                            STATEMENTS OF CASH FLOWS
                        FOR THE YEARS ENDED DECEMBER 31,
                            (IN THOUSANDS OF DOLLARS)

<TABLE>
<CAPTION>

                                                                             2000            1999           1998
                                                                         --------------------------------------------
  Operating activities
<S>                                                                      <C>             <C>             <C>
  Net income (loss)                                                      $      897      $    6,408      $  (1,127)
  Adjustments to reconcile net income (loss) to net cash
      provided by (used in) operating activities:
    Depreciation and amortization                                             2,320           4,291          5,802
    Net (gain) loss on disposition of equipment                                (303)         (6,357)           464
    Loss on revaluation of equipment                                            106              --             --
    Equity in net income of unconsolidated special-
      purpose entities                                                         (673)         (2,224)          (348)
    Changes in operating assets and liabilities:
      Restricted cash                                                          (125)             --            100
      Accounts receivable, net                                                  269             458            127
      Prepaid expenses and other assets                                          11               2              8
      Accounts payable and accrued expenses                                    (106)           (271)          (534)
      Due to affiliates                                                         (37)            (33)           (12)
      Lessee deposits and reserve for repairs                                    29            (786)        (1,383)
                                                                         --------------------------------------------
        Net cash provided by operating activities                             2,388           1,488          3,097
                                                                         --------------------------------------------

  Investing activities
  Purchase of equipment and capital repairs                                      (7)             (9)            --
  Proceeds from disposition of equipment                                      1,934          15,165          1,449
  Distribution from liquidation of unconsolidated
      special-purpose entities                                                   --           3,807          3,470
  Distribution from unconsolidated special-purpose entities                     945             741            895
                                                                         --------------------------------------------
        Net cash provided by investing activities                             2,872          19,704          5,814
                                                                         --------------------------------------------

  Financing activities
  Repayment of notes payable                                                     --         (12,750)        (8,250)
  Cash distribution paid to limited partners                                 (7,700)         (3,451)        (3,351)
  Cash distribution paid to General Partner                                    (405)           (182)          (182)
                                                                         --------------------------------------------
        Net cash used in financing activities                                (8,105)        (16,383)       (11,783)
                                                                         --------------------------------------------

  Net (decrease) increase in cash and cash equivalents                       (2,845)          4,809         (2,872)

  Cash and cash equivalents at beginning of year                              5,587             778          3,650
                                                                         --------------------------------------------

  Cash and cash equivalents at end of year                               $    2,742      $    5,587      $     778
                                                                         ============================================

  Supplemental information
  Interest paid                                                          $       --      $    1,016      $   1,652
                                                                         ============================================

</TABLE>









                 See accompanying notes to financial statements.


                          PLM EQUIPMENT GROWTH FUND IV
                             (A LIMITED PARTNERSHIP)
                          NOTES TO FINANCIAL STATEMENTS
                                DECEMBER 31, 2000

1.   BASIS OF PRESENTATION

     ORGANIZATION

     PLM  Equipment  Growth  Fund  IV, a  California  limited  partnership  (the
     Partnership),  was  formed  on March  25,  1989.  The  Partnership  engages
     primarily  in the  business of owning,  leasing or  otherwise  investing in
     predominately used  transportation and related  equipment.  The Partnership
     commenced significant operations in September 1989. PLM Financial Services,
     Inc.  (FSI)  is  the  General  Partner  of  the   Partnership.   FSI  is  a
     wholly-owned subsidiary of PLM International, Inc. (PLM International).

     The  Partnership  will  terminate on December 31, 2009,  unless  terminated
     earlier upon sale of all equipment or by certain  other events.  On January
     1, 1999, the General Partner began the liquidation phase of the Partnership
     with the intent to  commence  an  orderly  liquidation  of the  Partnership
     assets.  During  the  liquidation  phase,  the  Partnership's  assets  will
     continue to be recorded at the lower of carrying  amount or fair value less
     cost to sell.  The General  Partner  anticipates  that the  liquidation  of
     Partnership assets will be completed by the end of the year 2001.

     FSI manages the affairs of the Partnership.  The cash  distributions of the
     Partnership are generally  allocated 95% to the limited  partners and 5% to
     the General  Partner (see Net Income  (Loss) and  Distribution  per Limited
     Partnership  Unit,  below).  Net income is allocated to the General Partner
     to the extent necessary to cause the General  Partner's  capital account to
     equal  zero.  The  General  Partner  is  also  entitled  to a  subordinated
     incentive  fee equal to 7.5% of  surplus  distributions,  as defined in the
     limited  partnership  agreement,  remaining after the limited partners have
     received  a certain  minimum  rate of return  on,  and a return  of,  their
     invested capital.

     The  accompanying  financial  statements  have been prepared on the accrual
     basis of  accounting  in  accordance  with  generally  accepted  accounting
     principles. This requires management to make estimates and assumptions that
     affect  the  reported  amounts of assets and  liabilities,  disclosures  of
     contingent assets and liabilities at the date of the financial  statements,
     and the  reported  amounts of revenues and  expenses  during the  reporting
     period. Actual results could differ from those estimates.

     OPERATIONS

     The equipment of the Partnership is managed,  under a continuing management
     agreement,  by  PLM  Investment  Management,   Inc. (IMI),  a  wholly-owned
     subsidiary  of  FSI.  IMI  receives  a  monthly  management  fee  from  the
     Partnership  for managing the equipment  (see Note 2).  FSI, in conjunction
     with its  subsidiaries,  sells  equipment  to investor  programs  and third
     parties,  manages  pools of equipment  under  agreements  with the investor
     programs, and is a general partner of other programs.

     ACCOUNTING FOR LEASES

     The Partnership's leasing operations generally consist of operating leases.
     Under  the  operating  lease  method of  accounting,  the  leased  asset is
     recorded at cost and  depreciated  over its estimated  useful life.  Rental
     payments  are recorded as revenue  over the lease term.  Lease  origination
     costs were capitalized and amortized over the term of the lease.

     DEPRECIATION AND AMORTIZATION

     Depreciation  of  transportation  equipment  held for  operating  leases is
     computed on the  double-declining  balance  method,  taking a full  month's
     depreciation in the month of acquisition, based upon estimated useful lives
     of 15 years for  railcars  and 12 years for most other types of  equipment.
     The depreciation  method changes to straight-line when annual  depreciation
     expense  using the  straight-line  method  exceeds that  calculated  by the
     double-declining balance method.  Acquisition fees have been capitalized as
     part of the cost of the equipment.  Major expenditures that are expected to
     extend the useful lives or reduce  future  operating  expenses of equipment
     are  capitalized  and amortized  over the estimated  remaining  life of the
     equipment. Lease negotiation fees were


                          PLM EQUIPMENT GROWTH FUND IV
                             (A LIMITED PARTNERSHIP)
                          NOTES TO FINANCIAL STATEMENTS
                                DECEMBER 31, 2000

1.   BASIS OF PRESENTATION (continued)

     DEPRECIATION AND AMORTIZATION (continued)

     amortized over the initial  equipment  lease term.  Debt placement fees and
     issuance costs were amortized over the term of the related loan.

     TRANSPORTATION EQUIPMENT

     In accordance with the Financial Accounting Standards Board's Statement No.
     121, "Accounting for the Impairment of Long-Lived Assets and for Long-Lived
     Assets to Be Disposed Of", the General  Partner  reviews the carrying value
     of  the   Partnership's   equipment  at  least   quarterly,   and  whenever
     circumstances   indicate  the  carrying  value  of  an  asset  may  not  be
     recoverable  in relation  to  expected  future  market  conditions  for the
     purpose of assessing  recoverability of the recorded amounts.  If projected
     undiscounted  future  cash flows and fair value are less than the  carrying
     value of the equipment,  a loss on revaluation is recorded.  A $0.1 million
     loss  on  revaluation  was  recorded  during  2000.  No  reductions  to the
     equipment  carrying  values were required for the years ended  December 31,
     1999 or 1998.

     Equipment held for operating leases is stated at cost.

     INVESTMENTS IN UNCONSOLIDATED SPECIAL-PURPOSE ENTITIES

     The Partnership has interests in  unconsolidated  special-purpose  entities
     (USPEs) that own  transportation  equipment.  These interests are accounted
     for using the equity method.

     The  Partnership's  investment  in USPEs  includes  acquisition  and  lease
     negotiation  fees paid by the Partnership to PLM  Transportation  Equipment
     Corporation  (TEC),  a  wholly-owned  subsidiary  of FSI, and PLM Worldwide
     Management Services (WMS), a wholly-owned  subsidiary of PLM International.
     The Partnership's  interests in USPEs are managed by IMI. The Partnership's
     equity  interest in the net income of USPEs is reflected  net of management
     fees paid or payable to IMI and the  amortization  of acquisition and lease
     negotiation fees paid to TEC or WMS.

     REPAIRS AND MAINTENANCE

     Repair and  maintenance  costs related to railcars and trailers are usually
     the obligation of the  Partnership.  The reserve accounts for these repairs
     are  included  in the  balance  sheet as lessee  deposits  and  reserve for
     repairs.

     Net Income (Loss) and Distribution per Limited Partnership Unit

     Cash  distributions are allocated 95% to the limited partners and 5% to the
     General  Partner.   Special  allocations  of income are made to the General
     Partner equal to the deficit balance, if any, in the capital account of the
     General  Partner.  Cash  distributions  of the  Partnership  are  generally
     allocated 95% to the limited partners and 5% to the General Partner and may
     include amounts in excess of net income.  The limited  partners' net income
     (loss) is  allocated  among the  limited  partners  based on the  number of
     limited  partnership  units owned by each limited partner and on the number
     of days of the year each limited partner is in the Partnership.

     Cash  distributions are recorded when paid. Monthly  unitholders  receive a
     distribution check 15 days after the close of the previous month's business
     and quarterly  unitholders  receive a distribution  check 45 days after the
     close of the quarter.


                          PLM EQUIPMENT GROWTH FUND IV
                             (A LIMITED PARTNERSHIP)
                          NOTES TO FINANCIAL STATEMENTS
                                DECEMBER 31, 2000

1.   BASIS OF PRESENTATION  (continued)

     NET INCOME (LOSS) AND DISTRIBUTION PER LIMITED PARTNERSHIP UNIT (continued)

     Cash  distributions  to investors in excess of net income are  considered a
     return of  capital.  Cash  distributions  to the  limited  partners of $7.2
     million, $0, and $3.4 million, in 2000, 1999, and 1998, respectively,  were
     deemed to be a return of capital.

     Cash  distributions of $0.9 million for 2000,  1999, and 1998,  relating to
     the  fourth  quarter of that year,  were paid  during the first  quarter of
     2001, 2000, and 1999.

     The Partnership made a special  distribution of $4.3 million to the limited
     partners  during 2000.  No special  distributions  were made during 1999 or
     1998.

     NET INCOME (LOSS) PER WEIGHTED-AVERAGE PARTNERSHIP UNIT

     Net income  (loss) per  weighted-average  Partnership  unit was computed by
     dividing  net  income  (loss)  attributable  to  limited  partners  by  the
     weighted-average  number of Partnership units deemed outstanding during the
     period. The weighted-average number of Partnership units deemed outstanding
     during the years ended December 31, 2000, 1999, and 1998 was 8,628,420.

     CASH AND CASH EQUIVALENTS

     The  Partnership  considers  highly  liquid  investments  that are  readily
     convertible  to known  amounts of cash with  original  maturities  of three
     months or less as cash  equivalents.  The carrying  amount of cash and cash
     equivalents  approximates fair market value due to the short-term nature of
     the investments.

     COMPREHENSIVE INCOME

     The  Partnership's  net income (loss) is equal to comprehensive  income for
     the years ended December 31, 2000, 1999, and 1998.

     RESTRICTED CASH

     As of  December  31,  2000 and 1999,  restricted  cash  represented  lessee
     security deposits held by the Partnership.

2.   GENERAL PARTNER AND TRANSACTIONS WITH AFFILIATES

     An  officer of PLM  Securities  Corp.,  a  wholly-owned  subsidiary  of the
     General  Partner,  contributed $100 of the  Partnership's  initial capital.
     Under  the  equipment  management   agreement,   IMI,  subject  to  certain
     reductions,  receives a monthly management fee attributable to either owned
     equipment or interests in equipment  owned by the USPEs equal to the lesser
     of (a) the fees that  would be charged by an  independent  third  party for
     similar  services  for  similar  equipment  or (b) the sum of (i) 5% of the
     gross lease revenues attributable to equipment that is subject to operating
     leases, (ii) 2% of the gross lease revenues  attributable to equipment that
     is  subject  to full  payout net  leases,  and (iii) 7% of the gross  lease
     revenues  attributable  to equipment for which IMI provides both management
     and additional  services  relating to the continued and active operation of
     program equipment,  such as on-going marketing and re-leasing of equipment,
     hiring or  arranging  for the  hiring of crew or  operating  personnel  for
     equipment, and similar services. Partnership management fees of $27,000 and
     $0.1 million  were payable as of December 31, 2000 and 1999,  respectively.
     The Partnership's  proportional share of the USPE management fees of $9,000
     and $25,000 were  payable as of December  31, 2000 and 1999,  respectively.
     The Partnership's  proportional share of USPE management fees were $17,000,
     $0.1 million, and $0.1 million during 2000, 1999, and 1998,


                          PLM EQUIPMENT GROWTH FUND IV
                             (A LIMITED PARTNERSHIP)
                          NOTES TO FINANCIAL STATEMENTS
                                DECEMBER 31, 2000

2.   GENERAL PARTNER AND TRANSACTIONS WITH AFFILIATES (continued)

     respectively.  The  Partnership  reimbursed  FSI  and its  affiliates  $0.4
     million,  $0.5  million,  and $0.6  million  during 2000,  1999,  and 1998,
     respectively,  for data  processing  expenses and  administrative  services
     performed  on behalf of the  Partnership.  The  Partnership's  proportional
     share of USPE  administrative  and data  processing  expenses  was  $5,000,
     $11,000, and $18,000 during 2000, 1999, and 1998, respectively.

     The Partnership paid $2,000 in 1998 to Transportation  Equipment  Indemnity
     Company Ltd.  (TEI),  an affiliate of the General  Partner,  which provided
     marine  insurance  coverage and other  insurance  brokerage  services.  The
     Partnership's  proportional share of USPE marine insurance coverage paid to
     TEI was $17,000 during 1998. A substantial  portion of this amount was paid
     to third-party reinsurance  underwriters or placed in risk pools managed by
     TEI on behalf of affiliated  programs and PLM International,  which provide
     threshold  coverages on marine  vessel loss of hire and hull and  machinery
     damage.  All  pooling  arrangement  funds  are  either  paid  out to  cover
     applicable  losses or refunded  pro rata by TEI.  Also,  during  1998,  the
     Partnership  and the USPEs received a $0.1 million  loss-of-hire  insurance
     refund from TEI due to lower claims from the insured  Partnership and other
     insured  affiliated  programs.  In 2000  and  1999,  TEI  did  not  provide
     insurance  coverage to the Partnership.  These services were provided by an
     unaffiliated  third party.  PLM  International  liquidated TEI in the first
     quarter of 2000.

     The  Partnership had an interest in certain  equipment in conjunction  with
     affiliated programs during 2000, 1999, and 1998 (see Note 4).

     The balance due to  affiliates  as of December  31, 2000 and 1999  includes
     $27,000 and $0.1 million,  respectively,  due to FSI and its affiliates for
     management fees and $0.1 million due to affiliated USPEs.

3.   EQUIPMENT

     The  components  of owned  equipment  as of December 31, are as follows (in
     thousands of dollars):
<TABLE>
<CAPTION>

                                                            2000                1999
                                                        ----------------------------------
Equipment held for operating leases
<S>                                                     <C>                 <C>
Railcars                                                $   13,336          $    13,454
Marine containers                                            4,667                8,073
Aircraft                                                        --               20,440
Trailers                                                        --                3,501
                                                        ----------------------------------
                                                            18,003               45,468
Less accumulated depreciation                              (13,436)             (34,920)
                                                        ----------------------------------
                                                             4,567               10,548
Equipment held for sale                                      1,931                   --
                                                        ----------------------------------
  Net equipment                                         $    6,498          $    10,548
                                                        ==================================
</TABLE>

     Revenues  are earned  under  operating  leases.  The  Partnership's  marine
     containers are leased to operators of  utilization-type  leasing pools that
     include  equipment  owned  by  unaffiliated  parties.  In  such  instances,
     revenues received by the Partnership  consist of a specified  percentage of
     revenues generated by leasing the equipment to sublessees,  after deducting
     certain  direct  operating  expenses  of the  pooled  equipment.  Rents for
     railcars  are based on a fixed  rate.  Lease  revenues  for  trailers  that
     operated in rental  yards owned by PLM Rental,  Inc.  were based on a fixed
     rate for a specific period of time.




                          PLM EQUIPMENT GROWTH FUND IV
                             (A LIMITED PARTNERSHIP)
                          NOTES TO FINANCIAL STATEMENTS
                                DECEMBER 31, 2000

3.   EQUIPMENT (continued)

     As of December 31, 2000, all owned equipment in the  Partnership  portfolio
     was on lease except for an aircraft  and 34 railcars  with a net book value
     of $0.7 million.  During the first nine months of 2000,  trailer  equipment
     was  either on lease or  operating  in  PLM-affiliated  short-term  trailer
     rental  facilities,  all the Partnership's  trailers were sold on September
     30, 2000. As of December 31, 1999, all owned  equipment in the  Partnership
     portfolio  was either on lease or  operating in  PLM-affiliated  short-term
     trailer rental facilities,  except for an aircraft,  221 marine containers,
     and seven railcars with a net book value of $2.1 million.

     During  2000,  the  Partnership  sold or  disposed  of  marine  containers,
     railcars,  and trailers,  with an aggregate net book value of $1.6 million,
     for proceeds of $1.9 million. During 1999, the Partnership sold or disposed
     of a marine vessel,  marine  containers,  railcars,  aircraft and trailers,
     with an  aggregate  net book value of $8.8  million,  for proceeds of $15.2
     million.

     During  2000,   the   Partnership   entered  into  contracts  to  sell  the
     Partnership's 737-200 stage II and Dash 8-300 aircraft. Consequently, these
     two aircraft  were  reclassed as asset held for sale.  There were no assets
     held for sale as of December 31, 1999.

     All owned  equipment on lease is being  accounted for as operating  leases.
     Future minimum rentals receivable under noncancelable  operating leases, as
     of December  31,  2000,  for owned  equipment  during each of the next five
     years, are  approximately  $2.0 million in 2001, $1.3 million in 2002, $0.4
     million  in 2003,  $0.1  million  in 2004,  $36,000  in  2005,  and  $6,000
     thereafter.  Per diem and short-term rentals consisting of utilization rate
     lease payments included in revenue amounted to approximately  $0.7 million,
     $1.2 million, and $2.2 million in 2000, 1999, and 1998, respectively.

4.   INVESTMENTS IN UNCONSOLIDATED SPECIAL-PURPOSE ENTITIES

     The net investments in USPEs include the following  jointly-owned equipment
     (and related  assets and  liabilities)  as of December 31, (in thousands of
     dollars):
<TABLE>
<CAPTION>

                                                                                  2000           1999
                                                                               -------------------------

<S>                                                                            <C>            <C>
       35% interest in two Stage II commercial aircraft on a direct
          finance lease                                                       $   3,143      $   3,548
       50% interest in an entity that owned a bulk carrier                           --           (133)
                                                                               -------------------------
           Net investments                                                     $   3,143      $   3,415
                                                                               =========================
</TABLE>

     As of  December  31,  2000 and 1999,  all  jointly-owned  equipment  in the
     Partnership's USPE portfolio was on lease.

     During 1999, the General Partner sold the  Partnership's 50% interest in an
     entity owning a marine vessel.  The  Partnership's  interest in this entity
     was  sold for  proceeds  of $3.8  million  for its net  investment  of $1.9
     million.



                          PLM EQUIPMENT GROWTH FUND IV
                             (A LIMITED PARTNERSHIP)
                          NOTES TO FINANCIAL STATEMENTS
                                DECEMBER 31, 2000


4.   INVESTMENTS IN UNCONSOLIDATED SPECIAL-PURPOSE ENTITIES (continued)

     The following summarizes the financial  information for the special-purpose
     entities and the  Partnership's  interests  therein as of and for the years
     ended December 31, (in thousands of dollars):
<TABLE>
<CAPTION>

                                          2000                        1999                         1998
                                        ---------                   ----------                   ----------
                                                Net                          Net                          Net
                                 Total      Interest of       Total      Interest of      Total       Interest of
                                 USPEs      Partnership       USPEs      Partnership      USPEs       Partnership
                                -------------------------    -------------------------------------------------------

<S>                           <C>              <C>         <C>         <C>               <C>        <C>
        Net investments       $    8,981       $   3,143   $   9,489   $        3,415    $ 14,339   $       5,739
        Lease revenues                (3)             --       2,106            1,053       4,066           1,233
        Net income                 1,838             673       4,881            2,224       9,921             348
</TABLE>

5.   OPERATING SEGMENTS

     The Partnership  operates or operated in five primary  operating  segments:
     aircraft leasing, marine container leasing, marine vessel leasing,  trailer
     leasing,  and railcar  leasing.  Each equipment  leasing segment engages in
     short-term to mid-term operating leases to a variety of customers.

     The General  Partner  evaluates  the  performance  of each segment based on
     profit or loss from  operations  before  allocation of certain  general and
     administrative  expenses,  interest expense and certain other expenses. The
     segments are managed  separately due to different  business  strategies for
     each operation.

     The  following  tables  present a summary  of the  operating  segments  (in
     thousands of dollars):
<TABLE>
<CAPTION>

                                                     Marine
                                          Aircraft  Container   Trailer   Railcar
    For the Year Ended December 31, 2000  Leasing    Leasing    Leasing   Leasing      All 1    Total
                                                                                      Other

    Revenues
<S>                                        <C>       <C>        <C>       <C>        <C>       <C>
      Lease revenue                        $   784   $     78   $    635  $  2,888   $     --  $  4,385
      Interest income and other                  3         --         --        --        156       159
      Gain (loss) on disposition of             --        229         87       (13)        --       303
      equipment
                                          --------------------------------------------------------------
        Total revenues                         787        307        722     2,875        156     4,847

    Costs and expenses
      Operations support                       136          6        207       686         66     1,101
      Depreciation and amortization          1,343        364        186       427         --     2,320
      Management fee                            16          4         49       205         --       274
      General and administrative expenses      138          1        165       133        567     1,004
      Recovery of bad debts                     (9)        --       (143)      (30)        --      (182)
      Loss on revaluation of equipment          --         --        106        --         --       106
                                          --------------------------------------------------------------
        Total costs and expenses             1,624        375        570     1,421        633     4,623
                                          --------------------------------------------------------------
    Equity in net income of USPEs              538         --         --        --        135       673
                                          --------------------------------------------------------------
                                          --------------------------------------------------------------
    Net income (loss)                      $  (299)  $    (68)  $    152  $  1,454   $   (342) $    897
                                          ==============================================================

    As of December 31, 2000
    Total assets                           $ 5,356   $    421   $     --  $  4,302   $  2,784  $ 12,863
                                          ==============================================================

1    Includes certain interest income and costs not identifiable to a particular
     segment such as interest and  amortization  expense and certain  operations
     support and general and administrative expenses

</TABLE>


                          PLM EQUIPMENT GROWTH FUND IV
                             (A LIMITED PARTNERSHIP)
                          NOTES TO FINANCIAL STATEMENTS
                                DECEMBER 31, 2000

5.   OPERATING SEGMENTS (continued)
<TABLE>
<CAPTION>

                                                     Marine      Marine
                                          Aircraft  Container    Vessel   Trailer    Railcar
    For the Year Ended December 31, 1999  Leasing    Leasing    Leasing   Leasing    Leasing     All 1     Total
                                                                                                Other

    Revenues
<S>                                        <C>       <C>        <C>       <C>        <C>       <C>        <C>
      Lease revenue                        $ 2,590   $    143   $  1,067  $  1,122   $  3,132  $     --   $  8,054
      Interest income and other                 37         --         --        --         26       177        240
      Gain (loss) on disposition of          6,312        167        167      (159)      (130)       --      6,357
    equipment
                                          -------------------------------------------------------------------------
        Total revenues                       8,939        310      1,234       963      3,028       177     14,651

    Costs and expenses
      Operations support                     1,529          5      1,148       336        684        35      3,737
      Depreciation and amortization          2,409        565        296       326        636        59      4,291
      Interest expense                          --         --         --        --         --     1,016      1,016
      Management fee                           104          7         53        89        222        --        475
      General and administrative expenses      253          7         88       282        113       478      1,221
      (Recovery of) provision for bad         (278)        --         --         1          4        --       (273)
      debts
                                          -------------------------------------------------------------------------
        Total costs and expenses             4,017        584      1,585     1,034      1,659     1,588     10,467
                                          -------------------------------------------------------------------------
    Equity in net income of USPEs              470         --      1,754        --         --        --      2,224
                                          -------------------------------------------------------------------------
    Net income (loss)                      $ 5,392   $   (274)  $  1,403  $    (71)  $  1,369  $ (1,411)  $  6,408
                                          =========================================================================

    As of December 31, 1999
    Total assets (liabilities)             $ 6,873   $  1,202   $   (133) $  1,682   $  4,781  $  5,780   $ 20,185
                                          =========================================================================

                                                     Marine      Marine
                                          Aircraft  Container    Vessel   Trailer    Railcar
    For the Year Ended December 31, 1998  Leasing    Leasing    Leasing   Leasing    Leasing     All 1      Total
                                                                                                Other

    Revenues
      Lease revenue                        $ 3,484   $    720   $  1,666  $  1,578   $  3,533  $     --   $ 10,981
      Interest income and other                 15         --         --        --         21       215        251
      Gain (loss) on disposition of             (2)        77         --      (530)        (9)       --       (464)
      equipment
                                          -------------------------------------------------------------------------
        Total revenues                       3,497        797      1,666     1,048      3,545       215     10,768

    Costs and expenses
      Operations support                       446          8      1,043       446        926        38      2,907
      Depreciation and amortization          3,314        699        383       498        846        62      5,802
      Interest expense                           6         --         --        --         --     1,646      1,652
      Management fee                           156         36         83        96        251        --        622
      General and administrative expenses      336         20         26       368        139       362      1,251
      (Recovery of) provision for bad          (95)        --         --       154        (50)       --          9
    debts
                                          -------------------------------------------------------------------------
        Total costs and expenses             4,163        763      1,535     1,562      2,112     2,108     12,243
                                          -------------------------------------------------------------------------
    Equity in net income (loss) of USPEs       654         --       (306)       --         --        --        348
                                          -------------------------------------------------------------------------
                                          -------------------------------------------------------------------------
    Net income (loss)                      $   (12)  $     34   $   (175) $   (514)  $  1,433  $ (1,893)  $ (1,127)
                                          =========================================================================

    As of December 31, 1998
    Total assets                           $ 15,434  $  2,169   $  3,727  $  2,035   $  5,978  $  1,907   $ 31,250
                                          =========================================================================
1    Includes certain interest income and costs not identifiable to a particular
     segment such as interest and  amortization  expense and certain  operations
     support and general and administrative expenses
</TABLE>




                          PLM EQUIPMENT GROWTH FUND IV
                             (A LIMITED PARTNERSHIP)
                          NOTES TO FINANCIAL STATEMENTS
                                DECEMBER 31, 2000

6.   GEOGRAPHIC INFORMATION

     The  Partnership  owns  certain  equipment  that  is  leased  and  operated
     internationally.  A limited number of the  Partnership's  transactions  are
     denominated in a foreign  currency.  Gains or losses resulting from foreign
     currency transactions are included in the results of operations and are not
     material.

     The Partnership  leases or leased its aircraft,  railcars,  and trailers to
     lessees domiciled in five geographic  regions:  the United States,  Canada,
     South Asia, South America, and Mexico. Marine vessels and marine containers
     are leased to multiple lessees in different regions that operate the marine
     vessels and marine containers worldwide.

     The table below sets forth  lease  revenues  by  geographic  region for the
     Partnership's owned equipment and investments in USPEs, grouped by domicile
     of the lessee as of and for the years ended  December 31 (in  thousands  of
     dollars):
<TABLE>
<CAPTION>

             Region                        Owned Equipment                         Investments in USPEs
   -------------------------   ---------------------------------------    -------------------------------------
                                   2000          1999         1998            2000         1999        1998
                                ---------------------------------------    -------------------------------------

<S>                             <C>          <C>           <C>             <C>          <C>         <C>
   Canada                       $   3,394    $    2,298    $   2,698       $      --    $      --   $      --
   United States                      913         3,683        4,516              --           --          --
   South Asia                          --            --           --              --           --          --
   South America                       --           863        1,380              --           --          --
   Rest of the world                   78         1,210        2,387              --        1,053       1,233
                                ---------------------------------------    -------------------------------------
       Lease revenues           $   4,385    $    8,054    $  10,981       $      --    $   1,053   $   1,233
                                =======================================    =====================================
</TABLE>

     The following table sets forth net income (loss)  information by region for
     the owned  equipment and  investments in USPEs for the years ended December
     31 (in thousands of dollars):
<TABLE>
<CAPTION>

                    Region                            Owned Equipment                     Investments in USPEs
        ---------------------------------  -------------------------------------- -------------------------------------
                                              2000         1999         1998         2000          1999        1998
                                           -------------------------------------- -------------------------------------
<S>                                         <C>          <C>          <C>          <C>           <C>         <C>
        Canada                              $  1,267     $   1,129    $     622    $      --     $     --    $     84
        United States                           (498)        2,584          847           --           --          --
        South Asia                                --          (502)      (2,021)          --           --          --
        South America                             --         3,009          805           --           --          --
        Mexico                                    --            --           --          538          470         570
        Rest of the world                        (68)         (625)         164          135        1,754        (306)
                                            ------------------------------------   -------------------------------------
          Regional net income                    701         5,595          417          673        2,224    $    348
        Administrative and other                (477 )      (1,411)      (1,892)          --           --          --
                                            -------------------------------------- -------------------------------------
            Net income (loss)               $    224     $   4,184    $  (1,475)   $     673     $  2,224    $    348
                                            ====================================== =====================================
</TABLE>


                          PLM EQUIPMENT GROWTH FUND IV
                             (A LIMITED PARTNERSHIP)
                          NOTES TO FINANCIAL STATEMENTS
                                DECEMBER 31, 2000

6.   GEOGRAPHIC INFORMATION (continued)

     The net book value of these  assets as of  December  31, are as follows (in
     thousands of dollars):
<TABLE>
<CAPTION>

             Region                     Owned Equipment                      Investments in USPEs
   ---------------------------  ---------------------------------      ---------------------------------
                                   2000        1999       1998           2000        1999        1998
                                ---------------------------------      --------------------------------

<S>                             <C>        <C>          <C>            <C>        <C>         <C>
   Canada                       $   4,176  $    4,799   $  5,728       $     --   $      --   $      --
   United States                    1,555       3,401      6,550             --          --          --
   South Asia                         378       1,202      4,519             --          --          --
   South America                       --          --      2,770             --          --          --
   Mexico                              --          --         --          3,143       3,548       3,880
   Rest of the world                  389       1,146      4,037             --        (133)      1,859
                                ---------------------------------      ---------------------------------
       Total net book value     $   6,498  $   10,548   $ 23,604       $  3,143   $   3,415   $   5,739
                                =================================      =================================
</TABLE>


7.   CONCENTRATIONS OF CREDIT RISK

     Time Air, Inc. accounted for 14% of the consolidated  revenues for the year
     ended  December 31, 2000.  No other lessee  accounted  for more than 10% of
     consolidated  lease  revenues in 2000. No single lessee  accounted for more
     than 10% of the consolidated revenues for the years ended December 31, 1999
     and 1998.  In 1999,  however,  the  Partnership  sold three  aircraft and a
     marine vessel that the Partnership owned an interest in. The following is a
     list of the  buyers  and the  percentage  of the gain  from the sale of the
     total consolidated revenues:  Aircraft Lease Finance IV, Inc. (14%), Fuerza
     Aerea Del Peru (11%),  Triton  Aviation  Services (10%) and Lisa Navigation
     Company LLC (10%).

     As of  December  31,  2000 and  1999,  the  General  Partner  believes  the
     Partnership  had no other  significant  concentrations  of credit risk that
     could have a material adverse effect on the Partnership.

8.   INCOME TAXES

     The  Partnership  is not subject to income taxes,  as any income or loss is
     included in the tax returns of the individual  Partners.   Accordingly,  no
     provision for income taxes has been made in the financial statements of the
     Partnership.

     As of December 31, 2000,  the federal  income tax basis was higher than the
     financial  statement  carrying  values of certain assets and liabilities by
     $20.0 million,  primarily due to differences  in  depreciation  methods and
     equipment  reserves and the tax treatment of  underwriting  commissions and
     syndication costs.

9.   CONTINGENCIES

     PLM   International,   (the  Company)  and  various  of  its  wholly  owned
     subsidiaries are defendants in a class action lawsuit filed in January 1997
     and which is pending in the United States  District  Court for the Southern
     District of Alabama, Southern Division (Civil Action No. 97-0177-BH-C) (the
     court).  The named  plaintiffs  are six  individuals  who  invested  in PLM
     Equipment  Growth  Fund IV,  PLM  Equipment  Growth  Fund V (Fund  V),  PLM
     Equipment  Growth Fund VI (Fund VI), and PLM Equipment Growth & Income Fund
     VII  (Fund  VII),  collectively  (the  Funds),  each a  California  limited
     partnership for which the Company's wholly owned subsidiary,  PLM Financial
     Services, Inc. (FSI) acts as the General Partner.

     The complaint asserts causes of action against all defendants for fraud and
     deceit, suppression, negligent misrepresentation, negligent and intentional
     breaches of fiduciary duty, unjust enrichment,  conversion, and conspiracy.
     Plaintiffs allege that each defendant owed plaintiffs and the class


                          PLM EQUIPMENT GROWTH FUND IV
                             (A LIMITED PARTNERSHIP)
                          NOTES TO FINANCIAL STATEMENTS
                                DECEMBER 31, 2000

9.   CONTINGENCIES (continued)

     certain  duties due to their  status as  fiduciaries,  financial  advisors,
     agents,  and control  persons.  Based on these  duties,  plaintiffs  assert
     liability  against  defendants for improper sales and marketing  practices,
     mismanagement  of  the  Funds,  and  concealing  such   mismanagement  from
     investors in the Funds.  Plaintiffs seek unspecified  compensatory damages,
     as well as punitive damages.

     In June 1997, the Company and the affiliates who are also defendants in the
     Koch action were named as  defendants  in another  purported  class  action
     filed in the San Francisco Superior Court, San Francisco,  California, Case
     No.987062 (the Romei  action).  The plaintiff is an investor in Fund V, and
     filed the  complaint  on her own behalf and on behalf of all class  members
     similarly  situated who invested in the Funds.  The  complaint  alleges the
     same  facts  and the same  causes of  action  as in the Koch  action,  plus
     additional  causes  of  action  against  all of the  defendants,  including
     alleged unfair and deceptive  practices and violations of state  securities
     law. In July 1997,  defendants  filed a petition (the  petition) in federal
     district  court  under  the  Federal  Arbitration  Act  seeking  to  compel
     arbitration  of  plaintiff's  claims.  In October 1997,  the district court
     denied the Company's petition,  but in November  1997,  agreed to hear the
     Company's motion for reconsideration. Prior to reconsidering its order, the
     district  court  dismissed  the petition  pending  settlement  of the Romei
     action,  as discussed  below. The state court action continues to be stayed
     pending such resolution.

     In February 1999 the parties to the Koch and Romei actions agreed to settle
     the lawsuits, with no admission of liability by any defendant,  and filed a
     Stipulation  of Settlement  with the court.  The settlement is divided into
     two parts, a monetary settlement and an equitable settlement.  The monetary
     settlement  provides  for a  settlement  and release of all claims  against
     defendants  in  exchange  for payment for the benefit of the class of up to
     $6.6  million.  The final  settlement  amount  will depend on the number of
     claims  filed by class  members,  the  amount of the  administrative  costs
     incurred in connection  with the  settlement,  and the amount of attorneys'
     fees awarded by the court to plaintiffs' attorneys. The Company will pay up
     to $0.3 million of the monetary settlement, with the remainder being funded
     by an insurance policy. For settlement  purposes,  the monetary  settlement
     class  consists of all  investors,  limited  partners,  assignees,  or unit
     holders who  purchased  or received  by way of transfer or  assignment  any
     units in the Funds  between May 23, 1989 and August 30, 2000.  The monetary
     settlement,  if  approved,  will  go  forward  regardless  of  whether  the
     equitable settlement is approved or not.

     The  equitable  settlement  provides,  among  other  things,  for:  (a) the
     extension  (until  January 1, 2007) of the date by which FSI must  complete
     liquidation of the Funds' equipment,  (b) the extension (until December 31,
     2004) of the period  during  which FSI can  reinvest  the  Funds'  funds in
     additional  equipment,  (c) an  increase  of up to 20%  in  the  amount  of
     front-end fees (including  acquisition and lease negotiation fees) that FSI
     is entitled to earn in excess of the compensatory  limitations set forth in
     the North American Securities  Administrator's  Association's  Statement of
     Policy;  (d) a one-time  repurchase by each of Fund V, Fund VI and Fund VII
     of up to 10% of that  Partnership's  outstanding units for 80% of net asset
     value per unit;  and (e) the deferral of a portion of the  management  fees
     paid to an affiliate of FSI until, if ever, certain performance  thresholds
     have been met by the Funds. Subject to final court approval, these proposed
     changes  would be made as  amendments  to each Fund's  limited  partnership
     agreement  if less  than 50% of the  limited  partners  of each  Fund  vote
     against such amendments. The equitable settlement also provides for payment
     of additional  attorneys' fees to the plaintiffs' attorneys from Fund funds
     in the event, if ever, that certain performance thresholds have been met by
     the Funds.  The  equitable  settlement  class  consists  of all  investors,
     limited partners, assignees or unit holders who on August 30, 2000 held any
     units in Fund V, Fund VI, and Fund VII, and their assigns and successors in
     interest.

     The court preliminarily  approved the monetary and equitable settlements in
     August 2000, and information  regarding each of the settlements was sent to
     class members in September 2000. The monetary settlement remains subject to
     certain conditions, including final approval by the court following a final
     fairness  hearing.  The  equitable  settlement  remains  subject to certain
     conditions,


                          PLM EQUIPMENT GROWTH FUND IV
                             (A LIMITED PARTNERSHIP)
                          NOTES TO FINANCIAL STATEMENTS
                                DECEMBER 31, 2000

9.   CONTINGENCIES (continued)

     including  judicial approval of the proposed  amendments and final approval
     of the  equitable  settlement  by the  court  following  a  final  fairness
     hearing.

     A final  fairness  hearing  was held on  November  29, 2000 and the parties
     await the court's  decision.  The  Company  continues  to believe  that the
     allegations of the Koch and Romei actions are completely  without merit and
     intends to  continue  to defend  this  matter  vigorously  if the  monetary
     settlement is not consummated.

     The Company is involved as plaintiff  or  defendant in various  other legal
     actions incidental to its business. Management does not believe that any of
     these  actions  will  be  material  to  the  financial   condition  of  the
     Partnership.

10.  LIQUIDATION AND SPECIAL DISTRIBUTIONS

     On January 1, 1999, the General Partner began the liquidation  phase of the
     Partnership  with the  intent to  commence  an orderly  liquidation  of the
     Partnership assets. The General Partner is actively marketing the remaining
     equipment  portfolio with the intent of maximizing  sale proceeds.  As sale
     proceeds are received the General Partner  intends to periodically  declare
     special  distributions  to  distribute  the sale  proceeds to the partners.
     During the liquidation phase of the Partnership the equipment will continue
     to be leased under  operating  leases until sold.  Operating cash flows, to
     the  extent  they  exceed  Partnership   expenses,   will  continue  to  be
     distributed from time to time to partners. The amounts reflected for assets
     and  liabilities  of the  Partnership  have not been  adjusted  to  reflect
     liquidation  values. The equipment portfolio continues to be carried at the
     lower of depreciated cost or fair value less cost to dispose.  Although the
     General  Partner   estimates  that  there  will  be   distributions   after
     liquidation  of assets and  liabilities,  the amounts  cannot be accurately
     determined  prior  to  actual  liquidation  of the  equipment.  Any  excess
     proceeds over expected  Partnership  obligations will be distributed to the
     Partners  throughout the liquidation  period.  Upon final liquidation,  the
     Partnership will be dissolved.

     Special  distributions  totaling $4.5 million were paid in 2000. No special
     distibutions were paid in 1999 or 1998. The Partnership is not permitted to
     reinvest proceeds from sales or liquidations of equipment.  These proceeds,
     in excess of operational cash  requirements,  are periodically  paid out to
     limited  partners  in the form of  special  distributions.  The  sales  and
     liquidations occur because of certain damaged equipment,  the determination
     by the General  Partner  that it is the  appropriate  time to maximize  the
     return on an asset  through sale of that asset,  and, in some  leases,  the
     ability of the lessee to exercise purchase options.


                          PLM EQUIPMENT GROWTH FUND IV
                             (A LIMITED PARTNERSHIP)
                          NOTES TO FINANCIAL STATEMENTS
                                DECEMBER 31, 2000

11.  QUARTERLY RESULTS OF OPERATIONS (unaudited)

     The following is a summary of the quarterly  results of operations  for the
     years ended  December 31, 2000 (in  thousands of dollars,  except per share
     amounts):
<TABLE>
<CAPTION>

                                       March        June         September         December
                                        31,          30,            30,               31,            Total
                                    ----------------------------------------------------------------------------

       Operating results:
<S>                                 <C>            <C>       <C>               <C>                <C>
         Total revenues             $    1,313     $  1,238  $         1,292   $         1,004    $    4,847
         Net income                        518          166               85               128           897

       Per weighted-average
         limited partners unit:

       Limited partners'
         net income                 $     0.03     $   0.01  $          0.01   $          0.01    $     0.06
</TABLE>


     The following is a summary of the quarterly  results of operations  for the
     years ended  December 31, 1999 (in  thousands of dollars,  except per share
     amounts):
<TABLE>
<CAPTION>

                                      March        June         September         December
                                       31,          30,            30,               31,            Total
                                   ----------------------------------------------------------------------------

      Operating results:
<S>                                <C>           <C>        <C>               <C>                <C>
        Total revenues             $    2,288    $   4,302  $         4,508   $         3,553    $   14,651
        Net income (loss)                (991)       1,089            2,494             3,816         6,408

      Per weighted-average
        limited partners unit:

      Limited partners'
        net income (loss)          $    (0.12)   $    0.12  $          0.28   $          0.44    $     0.72
</TABLE>

12.  SUBSEQUENT EVENT

     During  February 2001,  the  Partnership  sold a Boeing 737-200  commercial
     aircraft  with a net book value of $0.4 million which was an asset held for
     sale as of December 31, 2000.

     In  February  2001,  PLM  International,  the  parent  of the  Partnership,
     announced that MILPI  Acquisition  Corp.  (MILPI) completed its cash tender
     offer for the outstanding common stock of PLM International. To date, MILPI
     has acquired 83% of the common shares outstanding.  MILPI will complete its
     acquisition  of PLM  International  by effecting a merger of MILPI into PLM
     International  under  Delaware  law. The merger is expected to be completed
     after  MILPI  obtains  approval  of  the  merger  by  PLM   International's
     shareholders  pursuant to a special shareholders' meeting which is expected
     to be held during the first half of 2001.







                          Independent Auditors' Report




The Partners
PLM Equipment Growth Fund IV:


Under date of March 2, 2001, we reported on the balance  sheets of PLM Equipment
Growth Fund IV as of December 31, 2000 and 1999,  and the related  statements of
income,  changes in partners'  capital,  and cash flows for each of the years in
the  three-year  period ended December 31, 2000, as contained in the 2000 annual
report to  stockholders.  These financial  statements and our report thereon are
incorporated  by reference in the annual  report on Form 10-K for the year 2000.
In connection with our audits of the  aforementioned  financial  statements,  we
also  audited  the  related  financial  statement  schedule  as  listed  in  the
accompanying  index. This financial  statement schedule is the responsibility of
the  Partnership's  management.  Our  responsibility is to express an opinion on
this  financial  statement  schedule based on our audits.  In our opinion,  such
financial statement schedule, when considered in relation to the basic financial
statements taken as a whole,  presents  fairly,  in all material  respects,  the
information set forth therein.



/s/   KPMG  LLP


San Francisco, CA
March 2, 2001


                                                                     SCHEDULE II


                          PLM EQUIPMENT GROWTH FUND IV
                             (A LIMITED PARTNERSHIP)
                        VALUATION AND QUALIFYING ACCOUNTS

                  YEAR ENDED DECEMBER 31, 2000, 1999, AND 1998
                            (IN THOUSANDS OF DOLLARS)
<TABLE>
<CAPTION>


                                                                  Additions
                                             Balance at          Charged to                          Balance at
                                            Beginning of          Cost and                            Close of
                                                Year               Expense           Deductions         Year
                                           ----------------    ----------------     --------------  -------------

  Year Ended December 31, 2000
<S>                                        <C>                <C>                   <C>             <C>
       Allowance for Doubtful Accounts     $      2,843       $           --        $    (2,838 )   $        5
                                           ======================================================================

  Year Ended December 31, 1999
       Allowance for Doubtful Accounts     $      3,126       $            5        $      (288 )   $    2,843
                                           ======================================================================

  Year Ended December 31, 1998
       Allowance for Doubtful Accounts     $      3,332       $            9        $      (215 )   $    3,126
                                           ======================================================================
</TABLE>





                          PLM EQUIPMENT GROWTH FUND IV

                                INDEX OF EXHIBITS



EXHIBIT                                                                   Page

 4.     Limited Partnership Agreement of Registrant                         *

10.1    Management Agreement between Registrant and                         *
        PLM Investment Management, Inc.

24.     Powers of Attorney                                               45 - 47

        Financial Statements required under Regulation S-X Rule 3-09:

99.1    Aero California Trust.

99.2    Canadian Air Trust #2.

99.3    Montgomery Partnership.







* Incorporated by reference.  See page 22 of this report.