BOEING 737-300 TRUST S/N 24700
                                    (A TRUST)

                              FINANCIAL STATEMENTS




<PAGE>










INDEPENDENT AUDITORS' REPORT






The Owners
Boeing 737-300 Trust S/N 24700

We have audited the accompanying balance sheet of the Boeing 737-300 Trust S/N
24700 (the "Trust") as of December 31, 2001, and the related statements of
operations, changes in owners' equity, and cash flows for the year then ended.
These financial statements are the responsibility of the Trust's management. Our
responsibility is to express an opinion on these financial statements based on
our audit.

We conducted our audit 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  audit  provides  a
reasonable basis for our opinion.

In our  opinion,  such  financial  statements  present  fairly,  in all material
respects,  the financial  position of the Trust as of December 31, 2001, and the
results  of its  operations  and its  cash  flows  for the  year  then  ended in
conformity with accounting principles generally accepted in the United States of
America.





/s/ Deloitte & Touche LLP


Certified Public Accountants

Tampa, Florida
March 8, 2002



<PAGE>










INDEPENDENT AUDITORS' REPORT






The Owners
Boeing 737-300 Trust S/N 24700


We have audited the  accompanying  balance sheet of the Boeing 737-300 Trust S/N
24700 as of December 31, 2000, and the related statements of operations, changes
in owners'  equity,  and cash  flows for the year then  ended.  These  financial
statements are the responsibility of the owners' management.  Our responsibility
is to express an opinion on these financial statements based on our audit.

We conducted our audit 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  audit  provides  a
reasonable basis for our opinion.

In our opinion,  the financial  statements  referred to above present fairly, in
all material  respects,  the financial  position of the Boeing 737-300 Trust S/N
24700 as of December 31, 2000,  and the results of its  operations  and its cash
flows for the year then ended in conformity with accounting principles generally
accepted  in the  United  States  of  America.  The  accompanying  2000 and 1999
financial  statements  were not  audited by us, and  accordingly,  we express no
opinion or any other form of assurance on them.




/s/ KPMG LLP

SAN FRANCISCO, CALIFORNIA
March 12, 2001


<PAGE>



                         BOEING 737-300 TRUST S/N 24700
                                    (A TRUST)
                                 BALANCE SHEETS
                                  DECEMBER 31,
                            (IN THOUSANDS OF DOLLARS)

<TABLE>
<CAPTION>





                                                                             2001               2000
                                                                       ------------------------------------
ASSETS

<S>                                                                     <C>               <C>
Aircraft equipment held for lease, at cost                              $       23,875    $       23,382
Less accumulated depreciation                                                   (9,107)           (6,027)
                                                                        -----------------------------------
    Net equipment                                                               14,768            17,355

Accounts receivable                                                              1,078               836
Lease negotiation fees, less accumulated
      amortization of $33 in 2000                                                   --                52
Equipment deposits                                                                  --                58
Prepaid expenses                                                                    12                 3
                                                                        -----------------------------------
      Total assets                                                      $       15,858    $       18,304
                                                                        ===================================


LIABILITIES AND OWNERS' EQUITY

Liabilities:
Accounts payable and accrued expenses                                   $           70    $           500
Due to affiliates                                                                   20                156
Lessee deposits and reserve for repairs                                          1,027                836
                                                                        -----------------------------------
  Total liabilities                                                              1,117              1,492

Owners' equity                                                                  14,741             16,812
                                                                        -----------------------------------

      Total liabilities and owners' equity                              $       15,858    $        18,304
                                                                        ===================================

</TABLE>
















                 See accompanying notes to financial statements.


<PAGE>



                         BOEING 737-300 TRUST S/N 24700
                                    (A TRUST)
                            STATEMENTS OF OPERATIONS
                            (IN THOUSANDS OF DOLLARS)

<TABLE>
<CAPTION>

                                                                                      For the period
                                                For the year        For the year      from 06/07/99
                                               ended December      ended December      (inception)
                                                    31,                 31,              through
                                                    2001                2000             12/31/99
                                                                                       (unaudited)
                                              -----------------------------------------------------------

REVENUES

<S>                                            <C>              <C>                  <C>
Lease revenue                                  $        1,790   $         1,396      $           --
Interest income                                            23                 3                  --
                                               ---------------------------------------------------------
  Total revenues                                        1,813             1,399                  --
                                               ---------------------------------------------------------

EXPENSES

Depreciation and amortization expense                   3,272             3,491               2,569
Repairs and maintenance                                   845             1,146                 100
Equipment operating expenses                              103                77                  --
Management fees to affiliate                               89                70                  --
Insurance expense                                          32                38                  14
Administrative expenses to affiliates                      38                11                  13
Administrative expenses                                    88               115                  55
                                               ---------------------------------------------------------
  Total expenses                                        4,467             4,948               2,751
                                               ---------------------------------------------------------

      Net loss                                 $       (2,654)  $        (3,549)     $       (2,751)
                                               =========================================================


</TABLE>






















                 See accompanying notes to financial statements.


<PAGE>



                         BOEING 737-300 TRUST S/N 24700
                                    (A TRUST)
                     STATEMENTS OF CHANGES IN OWNERS' EQUITY
      FOR THE PERIOD FROM INCEPTION JUNE 7, 1999 THROUGH DECEMBER 31, 1999,
               AND FOR THE YEARS ENDED DECEMBER 31, 2000 AND 2001
                            (IN THOUSANDS OF DOLLARS)



<TABLE>
<CAPTION>





<S>                                                        <C>
 Owners' capital contribution (unaudited)                  $       23,298

 Net loss (unaudited)                                              (2,751)
                                                           -----------------

  Owners' equity at December 31, 1999 (unaudited)                  20,547

 Net loss                                                          (3,549)

 Distributions paid                                                  (186)
                                                           -----------------

   Owners' equity at December 31, 2000                             16,812

 Net loss                                                          (2,654)

 Owner's capital contribution                                         633

 Distributions paid                                                   (50)
                                                           -----------------

   Owners' equity at December 31, 2001                     $       14,741
                                                           =================


</TABLE>




















                 See accompanying notes to financial statements.


<PAGE>



                         BOEING 737-300 TRUST S/N 24700
                                    (A TRUST)
                            STATEMENTS OF CASH FLOWS
                            (IN THOUSANDS OF DOLLARS)

<TABLE>
<CAPTION>

                                                                                               For the period
                                                                For the year    For the year    from 06/07/99
                                                               ended December  ended December    (inception)
                                                                    31,             31,       through 12/31/99
                                                                    2001            2000
                                                                                                 (unaudited)
                                                              --------------------------------------------------

OPERATING ACTIVITIES

<S>                                                            <C>             <C>              <C>
Net loss                                                       $      (2,654)  $      (3,549)   $      (2,751)
Adjustments to reconcile net loss to net cash
    provided by (used in) operating activities:
  Depreciation and amortization                                        3,272           3,491            2,569
  Changes in operating assets and liabilities:
    Accounts receivable                                                 (242)           (836)              --
    Prepaid expenses                                                      (9)             --               (3)
    Equipment deposits                                                    58             (58)              --
    Accounts payable and accrued expenses                               (430)            489               11
    Due to affiliates                                                   (136)            156               --
    Lessee deposits                                                      191             836               --
                                                               -------------------------------------------------
      Net cash provided by (used in) operating activities                 50             529             (174)
                                                               -------------------------------------------------

INVESTING ACTIVITIES

Payments for the purchase of the aircraft and
  capitalized repairs                                                     --            (258)         (22,600)
Payment of acquisition fees to affiliate                                (493)             --             (524)
Payment of lease negotiation fees to affiliate                          (140)            (85)              --
                                                               -------------------------------------------------
      Net cash used in investing activities                             (633)           (343)         (23,124)
                                                               -------------------------------------------------

FINANCING ACTIVITIES

Owners' capital contributions                                            633              --           23,298
Distributions paid                                                       (50 )          (186)              --
                                                               -------------------------------------------------
      Net cash provided by (used in) financing activities                583            (186)          23,298
                                                               -------------------------------------------------

Net change in cash and cash equivalents                                   --              --               --
Cash and cash equivalents at beginning of period                          --              --               --
                                                               -------------------------------------------------
Cash and cash equivalents at end of year                       $          --   $          --    $          --
                                                               =================================================

</TABLE>








                 See accompanying notes to financial statements.


<PAGE>



                         BOEING 737-300 TRUST S/N 24700
                                    (A TRUST)
                          NOTES TO FINANCIAL STATEMENTS

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

     ORGANIZATION

In June 1999,  PLM  Equipment  Growth & Income Fund VII (EGF VII),  a California
limited  partnership,  and PLM  Equipment  Growth Fund VI (EGF VI) a  California
limited  partnership  (the  Owners),  and  Boeing  737-300  Trust S/N 24700 (the
"Trust") entered into a Trust Agreement under which PLM Transportation Equipment
Corp.(TEC),  a  wholly-owned  subsidiary  of PLM  International,  Inc.,  acts as
trustee for the benefit of the Owners as equal  co-beneficiaries.  The Trust was
established for the purpose of purchasing a Boeing 737-300 commercial  aircraft.
The Trust has no employees nor operations other than the operation of the Boeing
737-300 commercial aircraft. The Trust estate is owned 38% by EGF VII and 62% by
EGF VI.

PLM Financial Services Inc., (FSI) is the General Partner of EGF VII and EGF VI.
FSI is a wholly-owned subsidiary of PLM International, Inc.

The  aircraft  was  purchased  in June 1999 for $22.6  million.  EGF VII paid or
accrued  acquisition fees of $0.5 million during 1999 and lease negotiation fees
of  $0.1  million  during  2000  to  FSI.  EGF VI  paid  acquisition  and  lease
negotiation fees of $0.6 million during 2001 to FSI.

In December  2001,  the  aircraft was leased to Pluna  Lineas  Aereas  Uruguayas
(PLAU) with a term expiring in April 2005.

     ESTIMATES

These accompanying  financial statements have been prepared on the accrual basis
of accounting in accordance with accounting principles generally accepted in the
United  Sates  of  America.  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.  All amounts
as of December 31, 1999 and for the period from June 7, 1999 (inception) through
December 31, 1999 are unaudited.

     OPERATIONS

The aircraft in the Trust 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 Trust for managing the aircraft (Note
2). FSI, in conjunction with its subsidiaries, sells transportation equipment to
investor programs and third parties,  manages pools of transportation  equipment
under agreements with the investor programs, and is a general partner in limited
partnerships.

     CASH AND CASH EQUIVALENTS

All cash  generated from  operations is distributed to the owners;  accordingly,
the Trust has no cash balance at December 31, 2001 and 2000.

     ACCOUNTING FOR LEASES

The  aircraft  under the Trust is leased  under an  operating  lease  with fixed
monthly  payments.  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 in  accordance  with
Financial  Accounting  Standards Board Statement No. 13 "Accounting for Leases".
Lease origination costs are amortized over the related lease period.


<PAGE>



                         BOEING 737-300 TRUST S/N 24700
                                    (A TRUST)
                          NOTES TO FINANCIAL STATEMENTS

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

     DEPRECIATION AND AMORTIZATION

Depreciation  of  aircraft  equipment  is  computed  using the  double-declining
balance method,  taking a full month's depreciation in the month of acquisition,
based upon an estimated useful life of 12 years. The depreciation method changes
to straight-line  when the annual  depreciation  expense using the straight-line
method  exceeds  that  calculated  by  the   double-declining   balance  method.
Acquisition  fees of $1.0 million,  which were paid to FSI, were  capitalized as
part of the cost of the equipment  and amortized  over the life of the aircraft.
Lease  negotiation  fees of $0.2 million were amortized based on the term of the
initial lease.

During 2001, the Owners' limited partnership  agreements were amended to require
additional acquisition and lease negotiation fees (see Note 2) to be paid to FSI
on the  purchase of the  aircraft in the Trust.  Depreciation  and  amortization
expense of $0.2 million,  which represents the cumulative effect of depreciation
and  amortization  that  should  have been  recorded  from the  purchase  of the
aircraft  from 1999 until the Owners'  limited  partnership  amendments in 2001,
were recorded in 2001.

     AIRCRAFT

Aircraft held for operating  leases is stated at cost less any reductions to the
carrying value as required by Statement of Financial Accounting Standards (SFAS)
No. 121,  "Accounting for the Impairment of Long-Lived Assets and for Long-Lived
Assets to Be Disposed Of" (SFAS No. 121).

In accordance  with SFAS No. 121, the General Partner reviews the carrying value
of the Trust's aircraft at least quarterly and whenever  circumstances  indicate
that the carrying value of the aircraft would not be recoverable due to expected
future market conditions.  If the projected undiscounted cash flows and the fair
market value of the aircraft is less than the carrying value of the aircraft,  a
loss on revaluation is recorded.  No  revaluations to the aircraft were required
in 2001, 2000, or 1999.

In October  2001,  Financial  Accounting  Standards  Board  issued SFAS No. 144,
"Accounting for the Impairment or Disposal of Long-Lived Assets" (SFAS No. 144),
which replaces SFAS No. 121. SFAS No. 144 provides updated  guidance  concerning
the  recognition  and  measurement  of an  impairment  loss for certain types of
long-lived  assets,  expands the scope of a discontinued  operation to include a
component of an entity,  and eliminates the current  exemption to  consolidation
when  control  over a  subsidiary  is likely to be  temporary.  SFAS No.  144 is
effective for fiscal years beginning after December 15, 2001.

The Trust will apply the new rules on accounting  for the impairment or disposal
of long-lived  assets  beginning in the first quarter of 2002,  and they are not
anticipated to have an impact on the Trust's earnings or financial position.

     REPAIRS AND MAINTENANCE

Repairs and  maintenance  for the aircraft are the obligation of the lessee.  To
meet the  maintenance  requirements of certain  aircraft  airframes and engines,
reserve  accounts are prefunded by the lessee over the period of the lease based
on the number of hours  this  equipment  is used,  times the  estimated  rate to
repair this equipment. If repairs exceed the amount prefunded by the lessee, the
Trust has the  obligation to fund and accrue the  difference.  If an aircraft is
sold and there is a balance in the reserve account for repairs to that aircraft,
the balance in the reserve account is reclassified as additional sales proceeds.


<PAGE>



                         BOEING 737-300 TRUST S/N 24700
                                    (A TRUST)
                          NOTES TO FINANCIAL STATEMENTS

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

     REPAIRS AND MAINTENANCE (continued)

The  aircraft  reserve  accounts  are  included in the  balance  sheet as lessee
deposits and reserve for repairs.

Since one of the aircraft  engines was scheduled for an overhaul  prior to going
on its  initial  lease,  the  Trust was  responsible  for the  overhaul  to this
aircraft engine. This engine was overhauled in 2000.

     NET LOSS AND CASH DISTRIBUTIONS TO OWNERS

The net loss and cash  distributions  of the Trust are  allocated to the Owners.
The net loss is generally  allocated to the Owners based on their  percentage of
ownership  in  the  Trust.  Certain  depreciable  and  amortizable  amounts  are
allocated   specifically  to  each  of  the  Owners,  such  as  depreciation  on
acquisition fees and amortization on lease negotiation fees. Cash  distributions
are allocated 50% to EGF VII and 50% to EGF VI.

     COMPREHENSIVE LOSS

The Trust's comprehensive loss is equal to net loss for the years ended December
31, 2001, 2000 and 1999.

2. GENERAL PARTNER AND TRANSACTIONS WITH AFFILIATES

Under the equipment management agreement,  IMI receives a monthly management fee
equal to the  lesser of (i) the fees that  would be  charged  by an  independent
third party for similar  services for similar  equipment or (ii) 5% of the gross
lease revenues  attributable  to equipment that is subject to operating  leases.
The  Trust's  management  fee in 2001 was less than an  independent  third party
management fee charged for similar services for similar  equipment.  The Trust's
management  fee expense to affiliate  was $0.1 million,  $0.1 million,  and $-0-
during 2001, 2000, and 1999, respectively.

The Trust  reimbursed FSI $38,000,  $11,000,  and $13,000 during 2001, 2000, and
1999,  respectively,  for data processing and  administrative  expenses directly
attributable to the Trust.

The  Trust  paid or  accrued  acquisition  and  lease  negotiation  fees of $0.6
million,   $0.1  million,   and  $0.5  million  during  2001,  2000,  and  1999,
respectively.

As of December  31, 2001,  due to  affiliates  included  Trust  management  fees
payable to IMI of $20,125.  As of December 31, 2000,  amounts due to  affiliates
included  Trust  management  fees  payable  to IMI of  $0.1  million  and  lease
negotiation fees payable to FSI of $0.1 million

3. EQUIPMENT

Lease revenues are earned by placing the aircraft on an operating lease.  During
December  2001, a fixed rate lease expiring in 2005 was signed with Pluna Lineas
Aereas Uruguayas.

The Trust paid acquisition fees of $0.5 million during 2001 and 1999.

The aircraft in the Trust is used as  collateral  against the senior loan of the
Owners.


<PAGE>



                         Boeing 737-300 Trust S/N 24700
                                    (A Trust)
                          NOTES TO FINANCIAL STATEMENTS

3. EQUIPMENT (continued)

The  aircraft  lease is  accounted  for as an operating  lease.  Future  minimum
rentals under  noncancelable  operating  leases, as of December 31, 2001, during
each of the next five years are:  $1.9  million in 2002,  $1.9  million in 2003,
$1.9 million in 2004, $0.5 million in 2005, and $-0- thereafter.

4. GEOGRAPHIC INFORMATION

As of  December  31,  2001,  the  aircraft  in the Trust is on lease to a lessee
domiciled in South  America.  Prior to relocating the aircraft to South America,
the aircraft was on lease to a lessee domiciled in Iceland. During 1999 and part
of 2000, the aircraft was in the United States undergoing repairs.

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

----------------------------  ---------------------------------------
          Region                 2001         2000          1999
----------------------------  ---------------------------------------

<S>                               <C>      <C>           <C>
Iceland                       $   1,635    $   1,396     $      --
South America                       155           --            --
                              ---------------------------------------
    Lease revenues            $   1,790    $   1,396     $      --
                              =======================================
</TABLE>

The following  table sets forth net income (loss)  information by region for the
Trust's aircraft for the years ended December 31 (in thousands of dollars):
<TABLE>
<CAPTION>

----------------------------  ---------------------------------------
          Region                 2001         2000          1999
----------------------------  ---------------------------------------

<S>                           <C>          <C>          <C>
United States                 $      --    $  (1,326)   $   (2,751)
Iceland                          (2,025)      (2,223)           --
South America                      (629)         --             --
                              ---------------------------------------
    Net loss                  $  (2,654)    $ (3,549)     $  (2,751)
                              =======================================
</TABLE>

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

----------------------------  -------------------------
          Region                 2001         2000
----------------------------  -------------------------

<S>                           <C>           <C>
United States                 $       --    $      --
Iceland                              --       17,355
South America                    14,768           --
                              -------------------------
    Net book value            $  14,768    $  17,355
                              =========================
</TABLE>
5. INCOME TAXES

The Trust is not subject to income  taxes,  as any income or loss is included in
the tax  return of the  individual  partners  and  members  owning  the  Owners.
Accordingly,  no  provision  for  income  taxes has been  made in the  financial
statements of the Trust.

As of December 31, 2001, the financial  statement  carrying amount of assets and
liabilities  was  approximately  $7.2 million lower than the federal  income tax
basis  of  such  assets  and  liabilities,   primarily  due  to  differences  in
depreciation methods.



<PAGE>



                         BOEING 737-300 TRUST S/N 24700
                                    (A TRUST)
                          NOTES TO FINANCIAL STATEMENTS

6. CONCENTRATIONS OF CREDIT RISK

Financial instruments,  which potentially subject the Trust to concentrations of
credit risk,  consist  principally  of lease  receivables.  The only lessee that
accounted  for more  than 10% of the  consolidated  revenues  for the  Trust was
Islandsflug HF (91% in 2001 and 100% in 2000).

As of  December  31,  2001,  the  manager  believes  that the  only  significant
concentrations  of credit risk that could have a material  adverse effect on the
Trust is PLAU, the current lessee of the only equipment in the Trust, which will
account for 100% of the lease revenues.

7, CAPITAL CONTRIBUTIONS

During 2001, EGF VI made an additional capital contribution of $0.6 million. The
contribution was made to the Trust to pay for acquisition and lease  negotiation
fees paid in 2001.

This contribution did not change EGF VI's percentage of ownership in the Trust.