UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                              --------------------
                                    FORM 10-Q


[X]      QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES
         EXCHANGE ACT OF 1934
         FOR THE FISCAL QUARTER ENDED JUNE 30, 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 0-28376
                             -----------------------



               PROFESSIONAL LEASE MANAGEMENT INCOME FUND I, L.L.C.
             (Exact name of registrant as specified in its charter)


          DELAWARE                                    94-3209289
(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 executive offices)             (Zip code)


       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


<PAGE>



               PROFESSIONAL LEASE MANAGEMENT INCOME FUND I, L.L.C.
                     (A DELAWARE LIMITED LIABILITY COMPANY)
                                 BALANCE SHEETS
                 (in thousands of dollars, except unit amounts)

<TABLE>
<CAPTION>



                                                                                June 30,          December 31,
                                                                                  2000                1999
                                                                             ------------------------------------
  ASSETS

  <S>                                                                         <C>                 <C>
  Equipment held for operating lease                                          $   116,142         $  103,709
  Less accumulated depreciation                                                   (51,457)           (45,183)
                                                                             ------------------------------------
      Net equipment                                                                64,685             58,526

  Cash and cash equivalents                                                         1,966             11,597
  Restricted cash                                                                     739                453
  Accounts receivable, less allowance for doubtful accounts
        of $89 in 2000 and $65 in 1999                                              2,198              2,007
  Investment in unconsolidated special-purpose entities                             6,381              7,717
  Deferred charges, less accumulated amortization
        of $61 in 2000 and $52 in 1999                                                116                125
  Prepaid expenses and other assets                                                    30                108
                                                                             ------------------------------------
        Total assets                                                          $    76,115         $   80,533
                                                                             ====================================

  LIABILITIES AND MEMBERS' EQUITY

  Liabilities:
  Accounts payable and accrued expenses                                       $       332         $      458
  Due to affiliates                                                                   838                656
  Lessee deposits and reserves for repairs                                          4,720              3,821
  Note payable                                                                     25,000             25,000
                                                                             ------------------------------------
      Total liabilities                                                            30,890             29,935
                                                                             ------------------------------------

  Members' equity:
  Class A members (4,971,311 units as of June 30, 2000
        and 4,975,321 units as of December 31, 1999)                               45,225             50,598
  Class B member                                                                       --                 --
                                                                             ------------------------------------
      Total members' equity                                                        45,225             50,598
                                                                             ------------------------------------

         Total liabilities and members' equity                                $    76,115         $   80,533
                                                                             ====================================

</TABLE>






                 See accompanying notes to financial statements.


<PAGE>



               PROFESSIONAL LEASE MANAGEMENT INCOME FUND I, L.L.C.
                     (A DELAWARE LIMITED LIABILITY COMPANY)
                            STATEMENTS OF OPERATIONS
         (in thousands of dollars, except weighted-average unit amounts)
<TABLE>
<CAPTION>

                                                          For the Three Months               For the Six Months
                                                             Ended June 30,                    Ended June 30,
                                                          2000           1999               2000            1999
                                                       -------------------------------------------------------------
  REVENUES

  <S>                                                  <C>            <C>                <C>            <C>
  Lease revenue                                        $   5,787      $   6,595          $  11,576      $   13,249
  Interest and other income                                  113             36                260             120
  Net gain on disposition of equipment                         6             27                  6              11
                                                       -------------------------------------------------------------
      Total revenues                                       5,906          6,658             11,842          13,380
                                                       -------------------------------------------------------------

  EXPENSES

  Depreciation and amortization                            3,396          3,907              6,297           7,440
  Repairs and maintenance                                    464            580              1,091           1,253
  Equipment operating expenses                               238            640                997           1,580
  Interest expense                                           453            463                916             916
  Insurance expense                                          109             69                192             167
  Management fees to affiliate                               310            346                622             706
  General and administrative expenses
        to affiliates                                        217            234                475             491
  Other general and administrative expenses                  263            180                481             336
                                                       -------------------------------------------------------------
      Total expenses                                       5,450          6,419             11,071          12,889
                                                       -------------------------------------------------------------

  Minority interest                                           --           (202)                --            (398)
  Equity in net income (loss) of unconsolidated
        special-purpose entities                            (152)          (305)              (244)          2,441
                                                       -------------------------------------------------------------

  Net income (loss) before cumulative effect of
        accounting change                                    304           (268)               527           2,534

  Cumulative effect of accounting change                      --             --                 --            (132)
                                                       -------------------------------------------------------------

        Net income (loss)                              $     304      $    (268)         $     527      $    2,402
                                                       =============================================================

  MEMBERS' SHARE OF NET INCOME (LOSS)

  Class A members                                      $    (135)     $    (708)         $    (351)     $    1,653
  Class B member                                             439            440                878             749
                                                       -------------------------------------------------------------

         Total                                         $     304      $    (268)         $     527      $    2,402
                                                       =============================================================

  Class A members' net income (loss) per
        weighted-average Class A unit                  $   (0.03)     $   (0.14)         $   (0.07)     $     0.33
                                                       =============================================================

  Cash distribution                                    $   3,066      $   2,933          $   5,852      $    5,873
                                                       =============================================================
  Cash distribution per weighted-average
        Class A units                                  $    0.53      $    0.50          $    1.00      $     1.00
                                                       =============================================================

</TABLE>


                 See accompanying notes to financial statements.

<PAGE>



               PROFESSIONAL LEASE MANAGEMENT INCOME FUND I, L.L.C.
                     (A DELAWARE LIMITED LIABILITY COMPANY)
                  STATEMENTS OF CHANGES IN MEMBERS' EQUITY For
               the period from December 31, 1998 to June 30, 2000
                            (in thousands of dollars)

<TABLE>
<CAPTION>


                                                           Class A              Class B              Total
                                                       ---------------------------------------------------------

  <S>                                                  <C>                  <C>                 <C>
    Members' equity as of December 31, 1998            $       64,893       $         132       $       65,025

  Net income (loss)                                            (4,029)              1,628               (2,401)

  Purchase of Class A units                                      (336)                 --                 (336)

  Cash distribution                                            (9,930)             (1,760)             (11,690)
                                                       ---------------------------------------------------------

    Members' equity as of December 31, 1999                    50,598                  --               50,598

  Net income (loss)                                              (351)                878                  527

  Purchase of Class A units                                       (48)                 --                  (48)

  Cash distribution                                            (4,974)               (878)              (5,852)
                                                       ---------------------------------------------------------

    Members' equity as of June 30, 2000                $       45,225       $          --       $       45,225
                                                       =========================================================

</TABLE>









                 See accompanying notes to financial statements.


<PAGE>





               PROFESSIONAL LEASE MANAGEMENT INCOME FUND I, L.L.C.
                     (A DELAWARE LIMITED LIABILITY COMPANY)
                            STATEMENTS OF CASH FLOWS
                            (in thousands of dollars)
<TABLE>
<CAPTION>



                                                                              For the Six Months
                                                                                Ended June 30,
                                                                          2000                 1999
                                                                    ---------------------------------------
     OPERATING ACTIVITIES

     <S>                                                            <C>                  <C>
     Net income                                                     $           527      $         2,402
     Adjustments to reconcile net income to net cash
           provided by (used in) operating activities:
       Depreciation and amortization                                          6,297                7,440
       Cumulative effect of accounting change                                    --                  132
       Net gain on disposition of equipment                                      (6)                 (11)
       Equity in net (income) loss of unconsolidated
             special-purpose entities                                           244               (2,441)
       Changes in operating assets and liabilities:
         Restricted cash                                                       (286)                (409)
         Accounts receivable, net                                              (191)              (1,101)
         Prepaid expenses and other assets                                       78                  113
         Accounts payable and accrued expenses                                 (126)                 (12)
         Due to affiliates                                                      182                  239
         Lessee deposits and reserves for repairs                               899                  406
         Minority interest                                                       --                 (455)
                                                                    ---------------------------------------
             Net cash provided by operating activities                        7,618                6,303
                                                                    ---------------------------------------

     INVESTING ACTIVITIES

     Payments for purchase of equipment and capitalized
           improvements                                                     (12,462)              (9,949)
     Liquidation distributions from unconsolidated
           special-purpose entities                                              --                7,095
     Proceeds from disposition of equipment                                      21                  114
     Distributions from unconsolidated special-purpose
           entities                                                           1,092                  948
                                                                    ---------------------------------------
           Net cash used in investing activities                            (11,349)              (1,792)
                                                                    ---------------------------------------

     FINANCING ACTIVITIES

     Cash distribution to Class A members                                    (4,974)              (4,992)
     Cash distribution to Class B Member                                       (878)                (881)
     Purchase of Class A units                                                  (48)                (331)
                                                                    ---------------------------------------
           Net cash used in financing activities                             (5,900)              (6,204)
                                                                    ---------------------------------------

     Net decrease in cash and cash equivalents                               (9,631)              (1,693)
     Cash and cash equivalents at beginning of period                        11,597                3,720
                                                                    ---------------------------------------
     Cash and cash equivalents at end of period                     $         1,966      $         2,027
                                                                    =======================================

     SUPPLEMENTAL INFORMATION
     Interest paid                                                  $           916      $           916
                                                                    =======================================
</TABLE>




                See accompanying notes to financial statements.

<PAGE>


               PROFESSIONAL LEASE MANAGEMENT INCOME FUND I, L.L.C.
                     (A DELAWARE LIMITED LIABILITY COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2000


1.   OPINION OF MANAGEMENT

     In the opinion of the  management of PLM Financial  Services,  Inc. (FSI or
     the Manager),  the accompanying  unaudited financial statements contain all
     adjustments  necessary,  consisting primarily of normal recurring accruals,
     to present fairly the financial  position of Professional  Lease Management
     Income Fund I, L.L.C. (the Fund) as of June 30, 2000 and December 31, 1999,
     the  statements of  operations  for the three and six months ended June 30,
     2000 and 1999, the statements of changes in members'  equity for the period
     from December 31, 1998 to June 30, 2000,  and the  statements of cash flows
     for the six months ended June 30, 2000 and 1999.  Certain  information  and
     note  disclosures  normally  included in financial  statements  prepared in
     accordance  with  generally  accepted   accounting   principles  have  been
     condensed  or  omitted  from the  accompanying  financial  statements.  For
     further  information,  reference should be made to the financial statements
     and notes thereto included in the Fund's Annual Report on Form 10-K for the
     year ended  December  31,  1999,  on file at the  Securities  and  Exchange
     Commission.

2.   SCHEDULE OF FUND PHASES

     The Fund will  terminate on December 31, 2010,  unless  terminated  earlier
     upon sale of all  equipment  and certain  other  events.  Beginning  in the
     Fund's seventh year of operations,  which commences on January 1, 2003, the
     Manager will stop purchasing  additional  equipment.  Surplus cash, if any,
     less reasonable reserves,  will be distributed to the members.  Between the
     eighth  and tenth  years of  operations,  the  Manager  intends to begin an
     orderly liquidation of the Fund's assets.

3.   PURCHASE OF CLASS A UNITS

     In 1999,  the Fund agreed to purchase up to 4,010 Class A units in 2000 for
     an aggregate  purchase price of $49,000.  As of June 30, 2000, the Fund had
     purchased 4,010 Class A units for $48,000.

4.   CASH DISTRIBUTIONS

     Cash distributions are recorded when paid and may include amounts in excess
     of net income that are considered to represent a return of capital. For the
     six months ended June 30, 2000 and 1999,  cash  distributions  totaled $5.9
     million.  For  the  three  months  ended  June  30,  2000  and  1999,  cash
     distributions  totaled $3.1 million and $2.9  million,  respectively.  Cash
     distributions  to the Class A unitholders  of $5.0 million and $3.3 million
     for the six months ended June 30, 2000 and 1999, respectively,  were deemed
     to be a return of capital.

     Cash distributions  related to the results from the second quarter of 2000,
     of $1.7 million, will be paid during the third quarter of 2000.

5.   TRANSACTIONS WITH MANAGER AND AFFILIATES

     The balance due to  affiliates  as of June 30, 2000,  included $0.2 million
     due to FSI and its  affiliates  for  management  fees and  data  processing
     services, and $0.6 million due to affiliated unconsolidated special-purpose
     entities  (USPEs).  The balance due to  affiliates as of December 31, 1999,
     included $0.2 million due to FSI and its affiliates for management fees and
     $0.5 million due to affiliated USPEs.


<PAGE>


               PROFESSIONAL LEASE MANAGEMENT INCOME FUND I, L.L.C.
                     (A DELAWARE LIMITED LIABILITY COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2000

5.   TRANSACTIONS WITH MANAGER AND AFFILIATES (CONTINUED)

     The Fund's proportional share of USPE-affiliated management fees of $21,000
     and  $31,000,  respectively,  were payable as of June 30, 2000 and December
     31, 1999.

     The Fund's  proportional  share of the affiliated  expenses incurred by the
     USPEs during 2000 and 1999 is listed in the  following  table (in thousands
     of dollars):
<TABLE>
<CAPTION>


                                                       For the Three Months               For the Six Months
                                                          Ended June 30,                    Ended June 30,
                                                        2000            1999               2000             1999
                                                     ----------------------------------------------------------------

           <S>                                       <C>             <C>                <C>              <C>
           Management fees                           $      32       $      62          $      67        $     72
           Data processing and administrative
              expenses                                       8              13                 20              21
</TABLE>


6.   EQUIPMENT

     The  components  of  owned  equipment  were as  follows  (in  thousands  of
     dollars):

                                           June 30,             December 31,
                                            2000                   1999
                                        ---------------------------------------

  Marine vessels                         $   37,256             $    37,256
  Aircraft                                   20,605                  20,605
  Railcars                                   19,717                  19,710
  Trailers                                   16,404                  16,196
  Marine containers                          22,160                   9,942
                                        ---------------------------------------
                                            116,142                 103,709
  Less accumulated depreciation             (51,457)                (45,183)
                                        ---------------------------------------
        Net equipment                    $   64,685             $    58,526
                                        =======================================

     As of June 30, 2000, all owned equipment in the Fund's portfolio was either
     on  lease  or  operating  in  PLM-affiliated   short-term   trailer  rental
     facilities,  except for a marine  vessel and ten  railcars  with a carrying
     value of $3.7 million.  As of December 31, 1999, all owned equipment in the
     Fund portfolio was either on lease or operating in PLM-affiliate short-term
     trailer  rental yards except for six railcars with a carrying value of $0.1
     million.

     During the six months ended June 30, 2000, the Fund purchased  5,945 marine
     containers and ten trailers for $12.5 million.  During the six months ended
     June 30, 1999, the Fund purchased 4,430 marine containers for $9.9 million.




<PAGE>


               PROFESSIONAL LEASE MANAGEMENT INCOME FUND I, L.L.C.
                     (A DELAWARE LIMITED LIABILITY COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2000

6.   EQUIPMENT (CONTINUED)

     During the six months ended June 30,  2000,  the Fund sold a trailer with a
     net book value of $15,000,  for proceeds of $21,000.  During the six months
     ended June 30, 1999,  the Fund sold railcars and trailers with an aggregate
     net book value of $0.1 million, for proceeds of $0.1 million.

     On May 24, 2000, FSI, on behalf of the Fund, entered into an asset purchase
     agreement  to sell the  refrigerated  and dry  trailer  assets of the Fund.
     Closing of the  transaction  is contingent on numerous  conditions.  If the
     sale is completed,  the Manager  estimates that the Fund's sale proceeds to
     be  approximately  $7.1 million and will result in a gain of  approximately
     $2.2  million.  Since the sale of the trailers is  contingent  upon certain
     conditions  being met,  the Fund's  refrigerated  and dry  trailers are not
     classified as assets held for sale.

7.   Investments in Unconsolidated Special-Purpose Entities

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


                                                                               June 30,              December 31,
                                                                                 2000                    1999
                                                                          ---------------------------------------------

     <S>                                                                   <C>                    <C>
     50% interest in a trust owning an MD-82 stage III commercial
               aircraft                                                    $         4,159        $            4,784
     50% interest in a trust owning an MD-82 stage III commercial
               aircraft                                                              1,347                     1,773
     50% interest in a trust owning a cargo marine vessel                              794                     1,024
     25% interest in a trust that owned four 737-200A stage II
               commercial aircraft                                                      45                        76
     25% interest in a trust that owned four 737-200A stage II
               commercial aircraft                                                      36                        60
                                                                          =============================================
         Net investments                                                   $         6,381        $            7,717
                                                                          =============================================
</TABLE>

     As of June 30, 2000 and December 31, 1999, all  jointly-owned  equipment in
     the Fund's USPE portfolio was on lease.










                     (This space intentionally left blank.)



<PAGE>


               PROFESSIONAL LEASE MANAGEMENT INCOME FUND I, L.L.C.
                     (A DELAWARE LIMITED LIABILITY COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2000

8.   OPERATING SEGMENTS

     The Fund  operates or operated in six  different  segments:  marine  vessel
     leasing,   aircraft  leasing,  railcar  leasing,  trailer  leasing,  marine
     container leasing,  and mobile offshore drilling unit (MODU) leasing.  Each
     equipment leasing segment engages in short to mid-term  operating leases to
     a variety  of  customers.  The  following  tables  present a summary of the
     operating segments (in thousands of dollars):
<TABLE>
<CAPTION>

                                           Marine                                     Marine
                                           Vessel   Aircraft    Railcar   Trailer    Container
    For the quarter ended June 30, 2000   Leasing    Leasing    Leasing   Leasing    Leasing     Other<F1>1  Total
    -----------------------------------   -------    -------    -------   -------    -------     ------      -----

    <S>                                    <C>       <C>        <C>       <C>        <C>       <C>        <C>
    REVENUES
      Lease revenue                        $ 1,760   $  1,014   $    897  $  1,052   $  1,064  $     --   $  5,787
      Interest income and other                 --          1         --        --         --       112        113
      Net gain on disposition
        of equipment                            --         --         --         6         --        --          6
                                          -------------------------------------------------------------------------
        Total revenues                       1,760      1,015        897     1,058      1,064       112      5,906

    COSTS AND EXPENSES
      Operations support                       366          9        164       262          1         9        811
      Depreciation and amortization          1,155        579        376       369        913         4      3,396
      Interest expense                          --         --         --        --         --       453        453
      Management fees to affiliate             101         51         55        69         34        --        310
      General and administrative expenses       38          2         35       185          1       219        480
                                          -------------------------------------------------------------------------
        Total costs and expenses             1,660        641        630       885        949       685      5,450
                                          -------------------------------------------------------------------------
      Equity in net loss of USPEs             (128)       (24)        --        --         --        --       (152)
                                          -------------------------------------------------------------------------
        Net income (loss)                  $   (28)  $    350   $    267  $    173   $    115  $   (573)  $    304
                                          =========================================================================

    Total assets as of June 30, 2000       $ 25,018  $  8,602   $ 10,514  $  8,945   $ 19,944  $  3,092   $ 76,115
                                          =========================================================================

                                           Marine
                                           Vessel   Aircraft    Railcar   Trailer      MODU
    For the quarter ended June 30, 1999   Leasing    Leasing    Leasing   Leasing    Leasing     Other<F2>2  Total
    -----------------------------------   -------    -------    -------   -------    -------     ------      -----

    REVENUES
      Lease revenue                        $ 2,175   $  1,014   $    923  $    927   $  1,183  $    373   $  6,595
      Interest income and other                  1          2         --        --         --        33         36
      Net gain on disposition
        of equipment                            --         --         22         5         --        --         27
                                          -------------------------------------------------------------------------
        Total revenues                       2,176      1,016        945       932      1,183       406      6,658

    COSTS AND EXPENSES
      Operations support                       861          7        185       208         16        12      1,289
      Depreciation and amortization          1,503        643        435       362        583       381      3,907
      Interest expense                          --         --         --        --         --       463        463
      Management fees to affiliate             109         51         61        48         59        18        346
      General and administrative expenses       13          6         18       214         13       150        414
                                          -------------------------------------------------------------------------
        Total costs and expenses             2,486        707        699       832        671     1,024      6,419
                                          -------------------------------------------------------------------------
      Minority interest                         --         --         --        --       (202)       --       (202)
      Equity in net income (loss) of            12       (317)        --        --         --        --       (305)
    USPEs
                                          -------------------------------------------------------------------------
        Net income (loss)                  $  (298)  $     (8)  $    246  $    100   $    310  $   (618)  $   (268)
                                          =========================================================================

    Total assets as of June 30, 1999       $ 34,896  $ 14,902   $ 12,176  $  8,316   $ 12,823  $ 12,898   $ 96,011
                                          =========================================================================
<FN>
-------------------------------------
<F1>
1    Includes  interest  income  and  costs  not  identifiable  to a  particular
     segment,  such as  amortization  expense and  interest  expense and certain
     operations support and general and administrative expenses.
<F2>
2    Includes  interest  income  and  costs  not  identifiable  to a  particular
     segment,  such as  amortization  expense and  interest  expense and certain
     operations support and general and administrative  expenses.  Also includes
     lease revenues and expenses from marine containers.
</FN>
</TABLE>


<PAGE>


               PROFESSIONAL LEASE MANAGEMENT INCOME FUND I, L.L.C.
                     (A DELAWARE LIMITED LIABILITY COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2000

8.       OPERATING SEGMENTS (CONTINUED)
<TABLE>
<CAPTION>


                                           Marine                                     Marine
                                           Vessel   Aircraft    Railcar   Trailer    Container
    For the six  months  ended  June 30,  Leasing    Leasing    Leasing   Leasing    Leasing     Other<F1>1  Total
    2000
    ------------------------------------  -------   --------    -------   --------   ---------   --------    ------

    <S>                                    <C>       <C>        <C>       <C>        <C>       <C>        <C>
    REVENUES
      Lease revenue                        $ 3,972   $  2,029   $  1,862  $  2,083   $  1,630  $     --   $ 11,576
      Interest income and other                  1          2         --        --         --       257        260
      Net gain on disposition
        of equipment                            --         --         --         6         --        --          6
                                          -------------------------------------------------------------------------
        Total revenues                       3,973      2,031      1,862     2,089      1,630       257     11,842

    COSTS AND EXPENSES
      Operations support                     1,484         18        279       477          3        19      2,280
      Depreciation and amortization          2,310      1,157        752       738      1,331         9      6,297
      Interest expense                          --         --         --        --         --       916        916
      Management fees to affiliate             212        101        118       129         62        --        622
      General and administrative expenses       52          4         61       416          1       422        956
                                          -------------------------------------------------------------------------
        Total costs and expenses             4,058      1,280      1,210     1,760      1,397     1,366     11,071
                                          -------------------------------------------------------------------------
      Equity in net loss of USPEs             (198)       (46)        --        --         --        --       (244)
                                          -------------------------------------------------------------------------
        Net income (loss)                  $  (283)  $    705   $    652  $    329   $    233  $ (1,109)  $    527
                                          =========================================================================

    Total assets as of June 30, 2000       $ 25,018  $  8,602   $ 10,514  $  8,945   $ 19,944  $  3,092   $ 76,115
                                          =========================================================================

                                           Marine
                                           Vessel   Aircraft    Railcar   Trailer      MODU
    For the six  months  ended  June 30,  Leasing    Leasing    Leasing   Leasing    Leasing     Other<F2>2  Total
    1999
    ------------------------------------  -------   --------    --------  --------   -------     ----------  ------

    Revenues
      Lease revenue                        $ 4,805   $  2,028   $  1,905  $  1,774   $  2,364  $    373   $ 13,249
      Interest income and other                  1          5         --        --         --       114        120
      Net gain on disposition
        of equipment                            --         --          6         5         --        --         11
                                          -------------------------------------------------------------------------
        Total revenues                       4,806      2,033      1,911     1,779      2,364       487     13,380

    Costs and expenses
      Operations support                     2,191         13        331       401         40        24      3,000
      Depreciation and amortization          3,006      1,286        873       724      1,166       385      7,440
      Interest expense                          --         --         --        --         --       916        916
      Management fees to affiliate             240        101        126       102        118        19        706
      General and administrative expenses       27         14         25       389         31       341        827
                                          -------------------------------------------------------------------------
        Total costs and expenses             5,464      1,414      1,355     1,616      1,355     1,685     12,889
                                          -------------------------------------------------------------------------
      Minority interest                         --         --         --        --       (398)       --       (398)
      Equity in net income (loss) of USPEs     (44)     2,485         --        --         --        --      2,441
                                          -------------------------------------------------------------------------
      Net income (loss) before cumulative
        effect of accounting change           (702)     3,104        556       163        611    (1,198)     2,534
      Cumulative effect of accounting change    --         --         --        --         --      (132)      (132)
                                          =========================================================================
        Net income (loss)                  $  (702 ) $  3,104   $    556  $    163   $    611  $ (1,330 ) $  2,402
                                          =========================================================================

    Total assets as of June 30, 1999       $ 34,896  $ 14,902   $ 12,176  $  8,316   $ 12,823  $ 12,898   $ 96,011
                                          =========================================================================



<FN>


     -------------------------------------
<F1>
     1   Includes  interest  income and costs not  identifiable  to a particular
         segment,  such as amortization expense and interest expense and certain
         operations support and general and administrative expenses.
<F2>
     2   Includes  interest  income and costs not  identifiable  to a particular
         segment,  such as amortization expense and interest expense and certain
         operations support and general and administrative expenses.
         Also includes lease revenues and expenses from marine containers.
</FN>
</TABLE>


<PAGE>


               PROFESSIONAL LEASE MANAGEMENT INCOME FUND I, L.L.C.
                     (A DELAWARE LIMITED LIABILITY COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2000

9.   DEBT

     The Fund has a  warehouse  facility,  which is  shared  with PLM  Equipment
     Growth Fund VI, PLM  Equipment  Growth & Income Fund VII, and TEC Acquisub,
     Inc., an indirect wholly-owned subsidiary of the Manager.  Borrowings under
     this facility by the other eligible  borrowers reduces the amount available
     to be  borrowed  by the  Fund.  All  borrowings  under  this  facility  are
     guaranteed by the Manager.  On June 30, 2000, this facility was extended to
     September  30,  2000 and the  amount  available  to be  borrowed  under the
     facility was reduced from $24.5  million to $9.5  million.  The Manager has
     been notified by the lender that this facility will not be renewed upon its
     expiration.  The  Manager  is  currently  negotiating  with a lender  for a
     warehouse  credit facility of $10.0-$15.0  million with similar terms.  The
     Manager believes the facility will be in place by September 30, 2000.

     As of  June  30,  2000,  PLM  Equipment  Growth  Fund  VI  had  outstanding
     borrowings  of $0.6 million and TEC Acquisub,  Inc. had  borrowings of $8.9
     million under the warehouse  facility.  No other eligible  borrower had any
     outstanding borrowings under the warehouse facility.

10.  NET INCOME (LOSS) PER WEIGHTED-AVERAGE CLASS A UNIT

     Net  income  (loss)  per  weighted-average  Class A unit  was  computed  by
     dividing  net  income  (loss)  attributable  to  Class  A  members  by  the
     weighted-average  number of Class A units  deemed  outstanding  during  the
     period.  The  weighted-average  number of Class A units deemed  outstanding
     during the three and six months  ended June 30, 2000 were  4,971,311  units
     and 4,972,611 units,  respectively.  The weighted-average number of Class A
     units  deemed  outstanding  during the three and six months  ended June 30,
     1999 were 4,982,528 units and 4,989,303 units, respectively.

11.  CUMULATIVE EFFECT OF ACCOUNTING CHANGE

     In April 1998,  the  American  Institute of  Certified  Public  Accountants
     issued  Statement  of Position  98-5,  "Reporting  on the Costs of Start-Up
     Activities,"  which  required  costs  related to start-up  activities to be
     expensed as incurred.  The statement  required that initial  application be
     reported as a cumulative  effect of a change in accounting  principle.  The
     Fund adopted this  statement  during the six months ended June 30, 1999, at
     which time it took a $0.1  million  charge,  related to  start-up  costs of
     Fund.










                    (This space is intentionally left blank.)



<PAGE>


ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
          RESULTS OF OPERATIONS

(I)  RESULTS OF OPERATIONS

In  September  1999,  the  Manager  amended  the  corporate-by-laws  of  certain
unconsolidated  special  purpose  entities  (USPEs)  in which the  Fund,  or any
affiliated  program,  owned an interest  greater than 50%. The  amendment to the
corporate-by-laws  provided that all decisions  regarding  the  acquisition  and
disposition of the investment as well as other significant business decisions of
that investment  would be permitted only upon unanimous  consent of the Fund and
all the  affiliated  programs  that have an  ownership  in the  investment  (the
Amendment).  As such,  although the Fund may own a majority  interest in a USPE,
the  Fund  does not  control  its  management  and thus  the  equity  method  of
accounting  will be used after  adoption  of the  Amendment.  As a result of the
Amendment,  as of September 30, 1999,  all jointly owned  equipment in which the
Fund owned a majority interest,  which had been consolidated,  were reclassified
to  investments in USPEs.  Lease revenues and direct  expenses for jointly owned
equipment in which the Fund held a majority  interest  were  reported  under the
consolidation  method of  accounting  during the three and six months ended June
30, 1999 and were included with the owned equipment operations.

COMPARISON OF THE  PROFESSIONAL  LEASE  MANAGEMENT  INCOME FUND I, L.L.C.'S (THE
FUND'S) OPERATING RESULTS FOR THE THREE MONTHS ENDED JUNE 30, 2000 AND 1999

Lease  revenues  less  direct  expenses  (defined  as repairs  and  maintenance,
equipment operating,  and asset-specific  insurance expenses) on owned equipment
decreased  during the second  quarter of 2000,  compared to the same  quarter of
1999. Gains or losses from the sale of equipment,  interest and other income and
certain   expenses  such  as  depreciation  and  amortization  and  general  and
administrative  expenses  relating to the operating  segments (see Note 8 to the
financial  statements),  are  not  included  in the  owned  equipment  operation
discussion  because they are  indirect in nature and not a result of  operations
but the result of owning a portfolio of equipment.  The following table presents
lease revenues less direct expenses by segment (in thousands of dollars):

(A)   Owned Equipment Operations


                                             For the Three Months
                                                Ended June 30,
                                           2000             1999
                                        ----------------------------

  Marine vessels                        $  1,394       $    1,314
  Marine containers                        1,063              373
  Aircraft                                 1,005            1,007
  Trailers                                  790              719
  Railcars                                  733              738
  Mobile offshore drilling unit              --            1,166

Marine  vessels:  Marine  vessel lease  revenues and direct  expenses  were $1.8
million and $0.4 million, respectively, for the second quarter of 2000, compared
to $2.2 million and $0.9 million, respectively, during the same quarter of 1999.
Lease revenue  decreased  $0.4 million in the second quarter of 2000 compared to
the same period in 1999 due to lower re-lease rates for one of the Fund's anchor
handling  supply  marine  vessels.  In addition,  lease revenue  decreased  $0.6
million due to another anchor  handling  supply marine vessel being off-lease in
the second  quarter of 2000 compared to the same period in 1999 where the marine
vessel was on lease for the entire quarter.  The decreases in lease revenue from
these marine  vessels were offset,  in part,  by an increase in lease revenue of
$0.1 million due to another  marine  vessel being on lease for the entire second
quarter of 2000  compared to the same period in 1999 where the marine vessel was
off-lease for 39 days. In addition,  lease revenue increased $0.5 million during
the second  quarter of 2000  compared  to the same  period in 1999 due to higher
re-lease  rates for the Fund's  bulk  carrier  marine  vessel.  Direct  expenses
decreased $0.5 million primarily due to lower operating  expenses for one of the
Fund's marine  vessels in the second quarter of 2000 compared to the same period
in 1999.

Marine  containers:  Marine  container lease revenues were $1.1 million and $0.4
million, respectively, for the second quarter of 2000 and 1999. Marine container
contribution  increased  in the  second  quarter of 2000,  compared  to the same
period in 1999 due to the purchase of marine containers in 1999 and 2000.

Aircraft:  Aircraft  lease  revenues and direct  expenses  were $1.0 million and
$9,000,  respectively,  for the second quarter of 2000, compared to $1.0 million
and $7,000, respectively, during the same quarter of 1999. Aircraft contribution
remained the same due to the stability of the aircraft fleet.

Trailers:  Trailer lease revenues and direct expenses were $1.1 million and $0.3
million,  respectively, for the second quarter of 2000, compared to $0.9 million
and $0.2  million,  respectively,  during  the  same  quarter  of 1999.  Trailer
contribution  increased  in the  second  quarter of 2000,  compared  to the same
period of 1999 due to the purchase of trailers in 1999 and 2000.

Railcars:  Railcar lease revenues and direct expenses were $0.9 million and $0.2
million, respectively, during the second quarter of 2000 and 1999.

Mobile  offshore  drilling  unit:  Mobile  offshore  drilling  unit revenues and
expenses were $1.2 million and $17,000,  respectively, for the second quarter of
1999. The Fund's  interest in an entity owning a mobile  offshore  drilling unit
was sold in the fourth quarter of 1999.

(B)   Interest and Other Income

Interest and other  income  increased  $0.1  million due to higher  average cash
balances in the second quarter of 2000, compared to the same period in 1999.

(C)   Indirect Expenses Related to Owned Equipment Operations

Total  indirect  expenses of $4.6  million  for the quarter  ended June 30, 2000
decreased  from $5.1 million for the same period in 1999. The primary reason for
the decrease of $0.5 million in depreciation and amortization expenses from 1999
levels   was  a  $0.6   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, and a $0.6 million decrease as a
result of the Amendment  which changed the  accounting  method used for majority
held equipment from the consolidation  method of accounting to the equity method
of accounting.  These  decreases  were  partially  offset by an increase of $0.7
million in depreciation  expense from the purchase of equipment  during 1999 and
2000.

(D)  Minority Interest

Minority  interest expense  decreased $0.2 million due to the September 30, 1999
Amendment that changed the accounting method of majority held equipment from the
consolidation method of accounting to the equity method of accounting.

(E)  Net Gain on Disposition of Owned Equipment

The net gain on  disposition of equipment for the second quarter of 2000 totaled
$6,000  which  resulted  from the  sale of a  trailer  with a net book  value of
$15,000,  for proceeds of $21,000.  Net gain on disposition of equipment for the
second quarter of 1999 totaled  $27,000 which resulted from the sale of railcars
with a net book value of $28,000, for proceeds of $0.1 million.



<PAGE>


(F)   Equity in Net Income (Loss) of Unconsolidated Special-Purpose Entities
      (USPEs)

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 Three Months
                                                           Ended June 30,
                                                       2000             1999
                                                  ----------------------------
  Aircraft, aircraft engines, and aircraft rotables $     (24)       $    (317)
  Marine vessel                                          (128)              12
                                                  ------------------------------
         Equity in Net Income (Loss) of USPEs        $   (152)            (305)
                                                  ==============================

Aircraft:  As of June 30, 2000 and 1999, the Fund owned  interests in two trusts
that each  owns a  commercial  aircraft.  During  the  second  quarter  of 2000,
aircraft  lease revenues were $0.5 million which were offset by expenses of $0.6
million.  During the same  period in 1999,  aircraft  lease  revenues  were $0.5
million which were offset by expenses of $0.8 million.  The decrease in expenses
of $0.2 million was primarily due to lower  depreciation  expense resulting from
the double  declining-balance  method of  depreciation  which results in greater
depreciation in the first years an asset is owned.

Marine  vessel:  As of June 30,  2000 and 1999,  the Fund had an  interest in an
entity that owns a marine vessel.  Marine vessel revenues and expenses were $0.1
million and $0.2 million, respectively, for the second quarter of 2000, compared
to $0.2 million and $0.2 million, respectively,  during the same period in 1999.
Lease revenue  decreased $0.1 million as a result of the marine vessel being off
lease for 19 days in the second  quarter of 2000  compared to the same period in
1999 where the marine vessel was on lease for the entire quarter.

(G)   Net Income (Loss)

As a result of the  foregoing,  the Fund had net income of $0.3  million for the
second  quarter of 2000,  compared to net loss of $0.3  million  during the same
period of 1999.  The Fund's  ability to acquire,  operate and liquidate  assets,
secure leases,  and re-lease those assets whose leases expire is subject to many
factors.  Therefore, the Fund's performance in the second quarter of 2000 is not
necessarily  indicative of future  periods.  In the second  quarter of 2000, the
Fund distributed $2.6 million to Class A members, or $0.53 per  weighted-average
Class A unit.

COMPARISON OF THE THE FUND'S OPERATING RESULTS FOR THE SIX MONTHS ENDED JUNE 30,
2000 ANd 1999

(A)   Owned Equipment Operations

Lease  revenues  less  direct  expenses  (defined  as repairs  and  maintenance,
equipment operating,  and asset-specific  insurance expenses) on owned equipment
decreased  during the six months ended June 30, 2000,  when compared to the same
period of 1999. The following table presents lease revenues less direct expenses
by segment (in thousands of dollars):

                                           For the Six Months
                                             Ended June 30,
                                         2000             1999
                                        ----------------------------

  Marine vessels                        $  2,488        $   2,614
  Aircraft                                 2,011            2,015
  Marine containers                        1,627              373
  Trailers                                 1,606            1,373
  Railcars                                 1,583            1,574
  Mobile offshore drilling unit               --            2,324

Marine  vessels:  Marine  vessel lease  revenues and direct  expenses  were $4.0
million and $1.5 million,  respectively, for the six months ended June 30, 2000,
compared to $4.8 million and $2.2 million, respectively,  during the same period
of 1999.  Lease revenue  decreased $0.8 million in the six months ended June 30,
2000 compared to the same period in 1999 due to lower  re-lease rates for one of
the Fund's anchor  handling supply marine  vessels.  In addition,  lease revenue
decreased $0.6 million due to another anchor handling supply marine vessel being
off-lease  in the second  quarter of 2000  compared  to the same  period in 1999
where the marine  vessel was on lease for the entire  period.  The  decreases in
lease revenue from these marine vessels were offset,  in part, by an increase in
lease  revenue of $0.1 million due to another  marine vessel being off lease for
39 days in six months  ended June 30,  1999  compared to the same period in 2000
where the marine vessel was on lease for the entire period.  In addition,  lease
revenue  increased  $0.5  million  during  the six months  ended  June 30,  2000
compared to the same period in 1999 due to higher  re-lease rates for the Fund's
bulk carrier marine vessel. Direct expenses decreased $0.7 million primarily due
to lower  operating  expenses  for one of the Fund's  marine  vessels in the six
months ended June 30, 2000 compared to the same period in 1999.

Aircraft:  Aircraft  lease  revenues and direct  expenses  were $2.0 million and
$18,000,  respectively, for the six months ended June 30, 2000, compared to $2.0
million and  $13,000,  respectively,  during the same  period of 1999.  Aircraft
contribution remained the same due to the stability of the aircraft fleet.

Marine  containers:  Marine  container lease revenues were $1.6 million and $0.4
million,  respectively,  for the six months ended June 30, 2000 and 1999. Marine
container contribution increased in the six months ended June 30, 2000, compared
to the same period of 1999 due to the purchase of marine  containers in 1999 and
2000.

Trailers:  Trailer lease revenues and direct expenses were $2.1 million and $0.5
million,  respectively, for the six months ended June 30, 2000, compared to $1.8
million and $0.4 million, respectively,  during the same period of 1999. Trailer
contribution  increased in the six months  ended June 30, 2000,  compared to the
same period of 1999 due to the purchase of trailers in 1999 and 2000.

Railcars:  Railcar lease revenues and direct expenses were $1.9 million and $0.3
million, respectively, for the six months ended June 30, 2000 and 1999.

Mobile  offshore  drilling  unit:  Mobile  offshore  drilling  unit revenues and
expenses were $2.4 million and $40,000,  respectively,  for the six months ended
June 30, 1999. This mobile offshore drilling unit was sold in the fourth quarter
of 1999.

(B)   Interest and Other Income

Interest and other  income  increased  $0.1  million due to higher  average cash
balances in the six months ended June 30,  2000,  compared to the same period in
1999.

(C)   Indirect Expenses Related to Owned Equipment Operations

Total  indirect  expenses of $8.8 million for the six months ended June 30, 2000
decreased from $9.9 million for the same period in 1999.  Significant  variances
are explained as follows:

     (1) A $1.1 million decrease in depreciation and amortization  expenses from
1999  levels  resulted  from  a $1.2  million  decrease  due  to the  use of the
double-declining   balance   depreciation   method  which   results  in  greater
depreciation the first years an asset is owned, and a $1.1 million decrease as a
result of the Amendment  which changed the  accounting  method used for majority
held equipment from the consolidation  method of accounting to the equity method
of accounting.  These  decreases  were  partially  offset by an increase of $1.2
million in depreciation  expense from the purchase of equipment  during 1999 and
2000.

     (2) A $0.1 million  decrease in management  fees to affiliate that reflects
the lower levels of lease revenues on owned  equipment in 2000, when compared to
1999.

     (3) A $0.1 million  increase in general and  administrative  expenses  from
1999 levels due to higher data  processing  services and  professional  services
required by the Fund.



<PAGE>


(D)  Minority Interest

Minority  interest expense  decreased $0.4 million due to the September 30, 1999
Amendment that changed the accounting method of majority held equipment from the
consolidation method of accounting to the equity method of accounting.

(E)  Net Gain on Disposition of Owned Equipment

The net gain on  disposition of equipment for the six months ended June 30, 2000
totaled  $6,000 which  resulted from the sale of a trailer with a net book value
of $15,000,  for proceeds of $21,000.  Net gain on  disposition of equipment for
the six months ended June 30, 1999 totaled  $11,000 which resulted from the sale
of railcars and trailers with an aggregate  net book value of $0.1 million,  for
proceeds of $0.1 million.

(F)   Equity in Net Income (Loss) 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 Six Months
                                                            Ended June 30,
                                                        2000             1999
                                                      --------------------------

  Aircraft, aircraft engines, and aircraft rotables    $    (46)      $   2,485
  Marine vessel                                            (198)            (44)
                                                     ---------------------------
         Equity in Net Income of USPEs                 $   (244)      $   2,441
                                                     ===========================

Aircraft:  As of June 30, 2000 and 1999, the Fund owned  interests in two trusts
that each owns a commercial aircraft. During the six months ended June 30, 2000,
aircraft  lease  revenues were $1.1 million  offset by expenses of $1.1 million.
During the six months ended June 30, 1999,  aircraft  lease  revenues  were $1.1
million  and the gain from the sale of the Fund's  interest  in two trusts  that
owned  a total  of  three  commercial  aircraft,  two  aircraft  engines,  and a
portfolio  of aircraft  rotables of $3.3  million was offset by expenses of $1.9
million.  The  decrease in expenses of $0.8 million was  primarily  due to lower
depreciation  expense  resulting from a $0.6 million  decrease due to the double
declining-balance  method of depreciation which results in greater  depreciation
in the first years an asset is owned and a $0.2 million decrease due to the sale
of the Fund's interest in the two trusts.

Marine  vessel:  As of June 30,  2000 and 1999,  the Fund had an  interest in an
entity that owns a marine vessel.  Marine vessel revenues and expenses were $0.3
million and $0.5 million,  respectively, for the six months ended June 30, 2000,
compared to $0.4 million and $0.5 million, respectively,  during the same period
in 1999.  Lease revenue  decreased $0.1 million as a result of the marine vessel
being off lease for 19 days in the six months  ended June 30,  2000  compared to
the same  period in 1999  where the  marine  vessel  was on lease for the entire
period.

(G)  Cumulative Effect of Accounting Change

In April 1999, the American  Institute of Certified  Public  Accountants  issued
Statement of Position  98-5,  "Reporting  on the Costs of Start-Up  Activities,"
which required costs related to start-up  activities to be expensed as incurred.
The  statement  required  that initial  application  be reported as a cumulative
effect of a change in  accounting  principle.  The Fund adopted  this  statement
during the six months ended June 30, 2000,  at which time it took a $0.1 million
charge,  related to  start-up  costs of the Fund.  This charge had the effect of
reducing  net  income  per  weighted-average  Class A unit by $0.03  for the six
months ended June 30, 2000.

(H)   Net Income

As a result of the  foregoing,  the Fund had net income of $0.5  million for the
six months  ended June 30, 2000,  compared to net income of $2.4 million  during
the same period of 1999.  The Fund's  ability to acquire,  operate and liquidate
assets,  secure leases, and re-lease those assets whose leases expire is subject
to many factors.  Therefore, the Fund's performance in the six months ended June
30, 2000 is not  necessarily  indicative  of future  periods.  In the six months
ended June 30, 2000, the Fund  distributed  $5.0 million to Class A members,  or
$1.00 per weighted-average Class A unit.

(II)  FINANCIAL CONDITION -- CAPITAL RESOURCES AND LIQUIDITY

For the six months ended June 30, 2000,  the Fund  generated  operating  cash of
$8.7 million (net cash provided by operating  activities,  plus  non-liquidating
distributions  from USPEs) to meet its  operating  obligations  and maintain the
current level of distributions (total for six months ended June 30, 2000 of $5.9
million) to the partners.

During the six months ended June 30, 2000, the Fund purchased marine  containers
and trailers for $12.5 million.

Restricted cash increased $0.3 million during the six months ended June 30, 2000
due to security deposits received from a marine container lessee in 2000.

Accounts receivable  increased $0.2 million during the six months ended June 30,
2000 due to the timing of cash receipts.

Investments in USPEs  decreased $1.3 million due to cash  distributions  of $1.1
million to the Fund from USPEs and a $0.2 million  loss that was  recorded  from
its equity interests in USPEs for the six months ended June 30, 2000.

Accounts  payable  decreased  $0.1 million  during the six months ended June 30,
2000 due to a decrease in trade accounts payable.

Due to affiliates  increased  $0.2 million  during the six months ended June 30,
2000 due to the receipt an additional  deposit of $0.1 million that is due to an
affiliated  USPE for engine  reserves  and an  increase  of  $37,000  due to PLM
Investment Management Inc., an affiliate of the Manager, for management fees.

Lessee  deposits and reserve for repairs  increased  $0.9 million during the six
months  ended June 30, 2000.  Security  deposits  increased  $0.3 million due to
security deposits received from a marine container lessee, reserves for aircraft
engine repairs  increased $0.3 million due to additional  lessee  deposits,  and
marine vessel dry-docking reserves increased $0.2 million due to the accrual for
future  repairs.  Lessee  prepaid  deposits  increased  $0.1 million due to more
lessee's prepaying future lease revenue.

The Fund has a warehouse  facility,  which is shared with PLM  Equipment  Growth
Fund VI, PLM  Equipment  Growth & Income Fund VII, and TEC  Acquisub,  Inc.,  an
indirect wholly-owned subsidiary of the Manager.  Borrowings under this facility
by the other eligible  borrowers  reduces the amount available to be borrowed by
the Fund. All borrowings  under this facility are guaranteed by the Manager.  On
June 30, 2000,  this  facility was extended to September 30, 2000 and the amount
available to be borrowed  under the  facility was reduced from $24.5  million to
$9.5  million.  The Manager has been  notified by the lender that this  facility
will not be renewed upon its  expiration.  The Manager is currently  negotiating
with a lender for a  warehouse  credit  facility  of  $10.0-$15.0  million  with
similar terms.  The Manager  believes the facility will be in place by September
30, 2000.

As of August 9, 2000, PLM Equipment Growth Fund VI had outstanding borrowings of
$0.6 million and TEC  Acquisub,  Inc. had  borrowings  of $8.9 million under the
short  term  Committed  Bridge  Facility.  No other  eligible  borrower  had any
outstanding borrowings under the short term Committed Bridge Facility.



<PAGE>


(III)  OUTLOOK FOR THE FUTURE

Several factors may affect the Fund's operating  performance in the remainder of
2000 and beyond,  including  changes in the markets for the Fund's equipment and
changes in the regulatory environment in which the equipment operates.

The Fund's  operation of a  diversified  equipment  portfolio in a broad base of
markets is intended to reduce its exposure to volatility in individual equipment
sectors.

Other  factors  affecting the Fund's  contribution  in the remainder of 2000 and
beyond include:

1. Improved market  conditions for the Fund's dry bulk marine vessels has led to
higher re-lease rates in 2000.

2. In  1999,  one of the  Fund's  anchor  handling  supply  marine  vessels  was
re-leased at a  significantly  lower rate,  due to soft market  conditions.  The
other  anchor  handling  supply  marine  vessel is currently  off lease.  If the
economic  conditions  remain the same, the Manager would expect to re-lease this
marine vessel at a rate lower than the rate that was in the previous lease.

3.  Rates and  utilization  dropped  for oil  tanker  vessels in 1999 due to the
economic  situation in Asia. The demand in 2000 has shown some signs of recovery
and may lead to higher  utilization  and lease rates.  With the  improvement  of
market conditions, the Fund's oil tanker could expect higher re-lease rates when
the current lease expires.

4. The demand for covered hopper cars has softened in the market since 1999, and
is expected to continue through 2000. The demand for the other types of railcars
has  continued to be high,  however a softening  in the market is expected,  and
will lead to lower utilization and lower contribution to the Fund.

The ability of the Fund 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 unpredictability of some of these factors,
or of their  occurrence,  makes it difficult  for the Manager to clearly  define
trends or influences  that may impact the  performance of the Fund's  equipment.
The Manager continually  monitors both the equipment markets and the performance
of the Fund's  equipment in these markets.  The Manager may decide to reduce the
Fund's  exposure to equipment  markets if it determines  that it cannot  operate
equipment to achieve acceptable rates of return. Alternatively,  the Manager may
make  a  determination  to  enter  equipment   markets  in  which  it  perceives
opportunities  to  profit  from  supply/demand  instabilities  or  other  market
imperfections.

The Fund  intends to use excess cash flow,  if any,  after  payment of operating
expenses, the maintenance of working capital reserves, and cash distributions to
the members,  to acquire additional  equipment during the first six years of the
Fund's  operations  which ends on December 31, 2002. The Manager  believes these
acquisitions may cause the Fund to generate additional earning and cash flow for
the Fund.

The Fund will  terminate on December 31, 2010,  unless  terminated  earlier upon
sale of all equipment and certain other events.  Beginning in the Fund's seventh
year of  operations,  which  commences on January 1, 2003, the Manager will stop
purchasing additional equipment. Surplus cash, if any, less reasonable reserves,
will be  distributed  to the  members.  Between  the eighth  and tenth  years of
operations,  the Manager  intends to begin an orderly  liquidation of the Fund's
assets.

(IV)  FORWARD-LOOKING INFORMATION

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

ITEM 3.    QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The Fund's  primary market risk exposure is that of currency  devaluation  risk.
During  the six months  ended  June 30,  2000,  80% of the  Fund'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 lessee's  currency  devalues  against the U.S.  dollar,  the
lessees could encounter difficulty in making the U.S.
dollar denominated lease payment.



                          PART II -- OTHER INFORMATION



ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

         (a)  Exhibits

              None.

         (b)  Reports on Form 8-K

              None.







<PAGE>




Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.


                                 PROFESSIONAL LEASE MANAGEMENT
                                 INCOME FUND I, L.L.C.
                                 By:  PLM Financial Services, Inc.
                                      Manager




Date: August 8, 2000             By:  /s/ Richard K Brock
                                     ----------------------
                                     Richard K Brock
                                     Chief Financial Officer