----

| **UNITED                STATES**                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| **SECURITIES                AND EXCHANGE COMMISSION**                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| **Washington,                D.C. 20549**                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| **___________________**                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| **FORM                10-KSB/A**                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| **(Amendment                No. 1)**                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| **[X]                Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange                Act of 1934**                                                                                                                                                                                                                                                                                                                                                                          |
| **For                the fiscal year ended December 31, 2005.**                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| **[**** ****]                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.**                                                                                                                                                                                                                                                                                                                                                                                                                              |
| (Name                of small business issuer in its charter)                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| **                                    Delaware                                                    94-3209289**              |
|                     (State                or other jurisdiction of incorporation or organization)                (I.R.S.                Employer Identification No.)                                                                                                                                            |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| **                        405                Lexington Avenue, 67th floor, New York, NY                     10174**                                                                                                                                                |
|                             (Address                of                principal executive offices)                             (Zip                code)                                               |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| Issuer's                telephone number, including area code: (212) 682-3344                                                                                                                                                                                                                                                                                                                                                                                                                       |
| **_______________________**                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| Securities                registered under Section 12(b) of the Exchange Act:                                                                                                                                                                                                                                                                                                                                                                                                                       |
| Class                A Units                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| (Title                of class)                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| Check                whether the Registrant is not required to file reports pursuant to                Section                13 or 15(d) of the Exchange Act. [ ]                                                                                                                                                                                                                                                                                                                                  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| Check                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 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 [ ]                                |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| Check                if there is no disclosure of delinquent filers in response to Item                405 of                Regulation S-B contained in this form, and no disclosure will be                contained, to the best of the Registrant's knowledge, in definitive                proxy                or information statements incorporated by reference in Part III of                this                Form 10-KSB/A or any amendment to this Form 10-KSB/A. [                ] |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| Indicate                by check mark whether the Registrant is a shell company (as defined                in                Rule 12b-2 of the Exchange Act). [ ]                                                                                                                                                                                                                                                                                                                                   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| Registrant's                aggregate market value of voting stock: N/A                                                                                                                                                                                                                                                                                                                                                                                                                        |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| Registrant's                Class A Units outstanding as of December 31, 2005 were                4,971,311.                                                                                                                                                                                                                                                                                                                                                                                        |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| Registrant's                revenues for the fiscal year ended December 31, 2005 was                $17,626,000.                                                                                                                                                                                                                                                                                                                                                                                    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| Transitional                Small Business Disclosure Format: Yes [ ] No [X]                                                                                                                                                                                                                                                                                                                                                                                                                   |

----

**EXPLANATORY      NOTE**

----

| 4      | Operating                Agreement of Fund, incorporated by reference to the Fund's                Registration Statement on Form S-1 (Reg. No. 33-55796) which                became effective with the Securities and Exchange Commission on May                25,                1993.                                           |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                |
| 10.1   | Management                Agreement between Fund and PLM Investment Management, Inc., incorporated                by reference to the Fund's Registration Statement on Form S-1                (Reg. No. 33-55796) which became effective with the Securities                and Exchange Commission on May 25, 1993.                     |
|   |                                                                                                                                                                                                                                                                                                                                                |
| 10.2   | $25.0                Million Note Agreement, dated as of December 30, 1996, incorporated                by                reference to the Fund’s 1996 Annual Report on Form 10-K filed with the                Securities and Exchange Commission on March 14, 1997.                                                                         |
|   |                                                                                                                                                                                                                                                                                                                                                |
| 10.3   | Settlement                Agreement between PLM Worldwide Leasing Corp. and Varig S.A. dated                October                11, 2002, incorporated by reference to the Fund’s Form 10-Q dated                September 30, 2002 filed with the Securities and Exchange Commission                on                November 14, 2002.  |
|   |                                                                                                                                                                                                                                                                                                                                                |
| 10.4   | Modification                of Settlement Agreement between PLM Worldwide Leasing Corp. and Varig                S.A.                dated September 24, 2004, incorporated by reference to the Fund’s Form                10-KSB dated December 31, 2004 filed with the Securities and Exchange                Commission on March 30, 2005. |
|   |                                                                                                                                                                                                                                                                                                                                                |
| 14     | PLM                Financial Services Inc. Code of Ethics incorporated by reference                to the                Fund’s Form 10-KSB dated December 31, 2003 filed with the Securities and                Exchange Commission on March 29, 2004.                                                                                       |
|   |                                                                                                                                                                                                                                                                                                                                                |
| 31.1   | Certificate                of President of the Manager pursuant to Section 302 of Sarbanes -                Oxley                Act of 2002.                                                                                                                                                                                                       |
|   |                                                                                                                                                                                                                                                                                                                                                |
| 31.2   | Certificate                of Chief Financial Officer of the Manager pursuant to Section 302                of                Sarbanes - Oxley Act of 2002.                                                                                                                                                                                         |
|   |                                                                                                                                                                                                                                                                                                                                                |
| 32.1   | Certificate                of President of the Manager Partner pursuant to Section 906 of Sarbanes                -                Oxley Act of 2002.                                                                                                                                                                                               |
|   |                                                                                                                                                                                                                                                                                                                                                |
| 32.2   | Certificate                of Chief Financial Officer of the Manager pursuant to Section 906                of                Sarbanes - Oxley Act of 2002.                                                                                                                                                                                         |

----

----

**PROFESSIONAL      LEASE MANAGEMENT INCOME FUND I**

**(A      Limited Liability Company)**

**INDEX      TO FINANCIAL STATEMENTS**

|                                                                        | Page   |
|-----------------------------------------------------------------------------|--------|
|                                                                        |   |
| Report                of independent registered public accounting firm      | 5      |
|                                                                        |   |
| Balance                sheets as of December 31, 2005 and 2004              | 6      |
|                                                                        |   |
| Statements                of income for the years ended                     |   |
| December                31, 2005 and 2004                                   | 7      |
|                                                                        |   |
| Statements                of changes in members' equity for the years ended |   |
| December                31, 2005 and 2004                                   | 8      |
|                                                                        |   |
| Statements                of cash flows for the years ended                 |   |
| December                31, 2005 and 2004                                   | 9      |
|                                                                        |   |
| Notes                to financial statements                                | 10-23  |

----

**REPORT      OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

----

| **PROFESSIONAL                LEASE MANAGEMENT INCOME FUND I, L.L.C.**       |
|------------------------------------------------------------------------------|
| **(A                Delaware Limited Liability Company)**                    |
| **BALANCE                SHEETS**                                            |
| **December                31,**                                              |
| (in                thousands of dollars, except unit                amounts) |

| **Assets**                                                                 |   | 2005   |    | 2004   |   |
|----------------------------------------------------------------------------|--------|--------|---------|--------|--------|
|                                                                       |   |   |    |   |   |
| Equipment                held for operating leases, net                    |   | $      | 46,505  |   | $      | 57,908 |   |
| Less                accumulated depreciation                               |   |   | (32,240 | )      |   | (40,329 | ) |
| Net                equipment                                               |   |   | 14,265  |   |   | 17,579 |   |
|                                                                       |   |   |    |   |   |   |   |
| Cash                and cash equivalents                                   |   |   | 4,343   |   |   | 15,646 |   |
| Accounts                and other receivables, less allowance for doubtful |   |   |    |   |   |   |   |
| accounts                of $15 in 2005 and $-0- in 2004                    |   |   | 2,310   |   |   | 3,334 |   |
| Equity                investments in affiliated entities                   |   |   | 200     |   |   | 904 |   |
| Other                assets, net of accumulated amortization of            |   |   |    |   |   |   |   |
| $-0-                in 2005 and $141 in 2004                               |   |   | 508     |   |   | 1,111 |   |
| Assets                held for sale                                        |   |   | 27      |   |   | 19,356 |   |
|                                                                       |   |   |    |   |   |   |   |
| Total                assets                                                |   | $      | 21,653  |   | $      | 57,930 |   |
|                                                                       |   |   |    |   |   |   |   |
| **Liabilities                and members’ equity**                   |   |   |    |   |   |   |   |
|                                                                       |   |   |    |   |   |   |   |
| Liabilities                                                                |   |   |    |   |   |   |   |
|                                                                       |   |   |    |   |   |   |   |
| Accounts                payable and accrued expenses                       |   | $      | 548     |   | $      | 149 |   |
| Due                to affiliates                                           |   |   | 166     |   |   | 223 |   |
| Note                payable                                                |   |   | --      |   |   | 10,000 |   |
| Reserve                for repairs                                         |   |   | 198     |   |   | 1,756 |   |
| Lessee                deposits and prepaid revenues                        |   |   | 343     |   |   | 948 |   |
| Liabilities                held for sale                                   |   |   | 43      |   |   | 361 |   |
| Total                liabilities                                           |   |   | 1,298   |   |   | 13,437 |   |
|                                                                       |   |   |    |   |   |   |   |
| Commitments                and contingencies                               |   |   |    |   |   |   |   |
|                                                                       |   |   |    |   |   |   |   |
| Members'                equity:                                            |   |   |    |   |   |   |   |
|                                                                       |   |   |    |   |   |   |   |
| Class                A members (4,971,311 units outstanding)               |   |   | 20,355  |   |   | 44,493 |   |
| Class                B member                                              |   |   | --      |   |   | -- |   |
| Total                members' equity                                       |   |   | 20,355  |   |   | 44,493 |   |
|                                                                       |   |   |    |   |   |   |   |
| Total                liabilities and members' equity                       |   | $      | 21,653  |   | $      | 57,930 |   |

----

| **PROFESSIONAL                LEASE MANAGEMENT INCOME FUND I, L.L.C.**                                |
|-------------------------------------------------------------------------------------------------------|
| **(A                Delaware Limited Liability Company)**                                             |
| **STATEMENTS                OF INCOME**                                                               |
| **For                the Years Ended December 31,**                                                   |
| (in                thousands of dollars, except weighted-average Class A unit                amounts) |

|                                                                   |   | 2005   |   | 2004   |   |
|------------------------------------------------------------------------|--------|--------|--------|--------|--------|
| **Revenues**                                                           |   |   |   |   |   |
| Lease                revenue                                           |   | $      | 14,492 |   | $      | 16,607 |   |
| Interest                and other income                               |   |   | 492    |   |   | 798 |   |
| Gain                on disposition of equipment                        |   |   | 2,642  |   |   | 1,873 |   |
| Loss                on disposition of equipment                        |   |   | --     |   |   | (2 | ) |
| Total                revenues                                          |   |   | 17,626 |   |   | 19,276 |   |
|                                                                   |   |   |   |   |   |   |   |
| **Expenses**                                                           |   |   |   |   |   |   |   |
| Depreciation                                                           |   |   | 2,996  |   |   | 3,538 |   |
| Operations                support                                      |   |   | 6,004  |   |   | 6,191 |   |
| Management                fees to affiliate                            |   |   | 706    |   |   | 953 |   |
| Interest                expense                                        |   |   | 42     |   |   | 973 |   |
| General                and administrative expenses                     |   |   |   |   |   |   |   |
| to                affiliates                                           |   |   | 193    |   |   | 98 |   |
| Other                general and administrative expenses               |   |   | 767    |   |   | 1,222 |   |
| Provision                for (recovery of) bad debts                   |   |   | 203    |   |   | (1,483 | ) |
| Total                expenses                                          |   |   | 10,911 |   |   | 11,492 |   |
|                                                                   |   |   |   |   |   |   |   |
| Equity                in net income of equity investments              |   |   | 468    |   |   | 602 |   |
|                                                                   |   |   |   |   |   |   |   |
| Income                from continuing operations                       |   |   | 7,183  |   |   | 8,386 |   |
|                                                                   |   |   |   |   |   |   |   |
| Discontinued                operations:                                |   |   |   |   |   |   |   |
| Income                (loss) from operation of discontinued operations |   |   | 178    |   |   | (778 | ) |
| Gain                on disposition of discontinued operations          |   |   | 9,865  |   |   | -- |   |
| Income                (loss) from discontinued operations              |   |   | 10,043 |   |   | (778 | ) |
|                                                                   |   |   |   |   |   |   |   |
| Net                income                                              |   | $      | 17,226 |   | $      | 7,608 |   |
|                                                                   |   |   |   |   |   |   |   |
| **Members'                share of net income**                        |   |   |   |   |   |   |   |
|                                                                   |   |   |   |   |   |   |   |
| Class                A members                                         |   | $      | 10,910 |   | $      | 7,608 |   |
| Class                B member                                          |   |   | 6,316  |   |   | -- |   |
|                                                                   |   |   |   |   |   |   |   |
| Total                                                                  |   | $      | 17,226 |   | $      | 7,608 |   |
|                                                                   |   |   |   |   |   |   |   |
| Class                A members' basic earnings (loss)                  |   |   |   |   |   |   |   |
| per                weighted-average unit:                              |   |   |   |   |   |   |   |
| Income                from continuing operations                       |   | $      | 0.17   |   | $      | 1.69 |   |
| Income                (loss) from operation of discontinued operations |   |   | 0.04   |   |   | (0.16 | ) |
| Gain                on disposition of discontinued operations          |   |   | 1.98   |   |   | -- |   |
|                                                                   |   | $      | 2.19   |   | $      | 1.53 |   |

----

| **PROFESSIONAL                LEASE MANAGEMENT INCOME FUND I, L.L.C.** |
|------------------------------------------------------------------------|
| **(A                Delaware Limited Liability Company)**              |
| **STATEMENTS                OF CHANGES IN MEMBERS' EQUITY**            |
| **For                the Years Ended December 31, 2005 and 2004**      |
| (in                thousands of dollars)                               |

|                                                   |   | Class                A |    | Class                B |   | Total  |   |
|--------------------------------------------------------|--------|------------------------|---------|------------------------|--------|--------|--------|
|                                                   |   |                   |    |                   |   |   |   |
| Members'                equity as of December 31, 2003 |   | $                      | 36,885  |                   | $      | --     |   | $ | 36,885 |   |
|                                                   |   |                   |    |                   |   |   |   |   |   |   |
| Net                income                              |   |                   | 7,608   |                   |   | --     |   |   | 7,608 |   |
| Members'                equity as of December 31, 2004 |   |                   | 44,493  |                   |   | --     |   |   | 44,493 |   |
|                                                   |   |                   |    |                   |   |   |   |   |   |   |
| Net                income                              |   |                   | 10,910  |                   |   | 6,316  |   |   | 17,226 |   |
|                                                   |   |                   |    |                   |   |   |   |   |   |   |
| Cash                distribution                       |   |                   | (35,048 | )                      |   | (6,316 | )      |   | (41,364 | ) |
|                                                   |   |                   |    |                   |   |   |   |   |   |   |
| Members'                equity as of December 31, 2005 |   | $                      | 20,355  |                   | $      | --     |   | $ | 20,355 |   |

----

| **PROFESSIONAL                LEASE MANAGEMENT INCOME FUND I, L.L.C.** |
|------------------------------------------------------------------------|
| **(A                Delaware Limited Liability Company)**              |
| **STATEMENTS                OF CASH FLOWS**                            |
| **For                the Years Ended December 31,**                    |
| (in                thousands of dollars)                               |

|                                                                                           |   |   2005                                                  |    |  2004                                     |   |
|------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------|---------|------------------------------------------------|--------|
|                                                                                           |   |    (As                restated,          |    |    (As                restated, |   |
|                                                                                           |   |    see                Note                1)  |    |                   see Note 1)        |   |
| **Operating                activities**                                                        |   |                                                              |    |                                           |   |
| Income                from continuing operations                                               |   | $                                                                 | 7,183   |                                           | $      | 8,386 |   |
| Adjustments                to reconcile income from continuing operations                      |   |                                                              |    |                                           |   |   |   |
| to                net cash provided by (used in) operating activities:                         |   |                                                              |    |                                           |   |   |   |
| Depreciation                                                                                   |   |                                                              | 2,996   |                                           |   | 3,538 |   |
| Amortization                of debt placement costs                                            |   |                                                              | 36      |                                           |   | 18 |   |
| Provision                for (recovery of) bad debts                                           |   |                                                              | 203     |                                           |   | (1,483 | ) |
| Net                gain on disposition of equipment                                            |   |                                                              | (2,642  | )                                              |   | (1,871 | ) |
| Equity                in net income from equity investments                                    |   |                                                              | (468    | )                                              |   | (602 | ) |
| Distributions                from equity investments                                           |   |                                                              | 1,172   |                                           |   | 1,126 |   |
| Changes                in operating assets and liabilities:                                    |   |                                                              |    |                                           |   |   |   |
| Accounts                and other receivables                                                  |   |                                                              | 821     |                                           |   | 1,288 |   |
| Other                assets                                                                    |   |                                                              | 27      |                                           |   | 774 |   |
| Accounts                payable and accrued expenses                                           |   |                                                              | 399     |                                           |   | (361 | ) |
| Due                to affiliates                                                               |   |                                                              | (57     | )                                              |   | (16 | ) |
| Reserve                for repairs                                                             |   |                                                              | (1,558  | )                                              |   | 84 |   |
| Lessee                deposits and prepaid revenues                                            |   |                                                              | 695     |                                           |   | (690 | ) |
| Cash                provided by operating activities of continuing operations                  |   |                                                              | 8,807   |                                           |   | 10,191 |   |
| Cash                provided by operating activities of discontinued                           |   |                                                              |    |                                           |   |   |   |
| operations                                                                                     |   |                                                              | 1,492   |                                           |   | 1,350 |   |
| Net                cash provided by operating activities                                       |   |                                                              | 10,299  |                                           |   | 11,541 |   |
|                                                                                           |   |                                                              |    |                                           |   |   |   |
| **Investing                activities**                                                        |   |                                                              |    |                                           |   |   |   |
| Decrease                in restricted cash                                                     |   |                                                              | --      |                                           |   | 60 |   |
| Collections                on finance lease receivable                                         |   |                                                              | 538     |                                           |   | 305 |   |
| Proceeds                from disposition of equipment                                          |   |                                                              | 1,662   |                                           |   | 1,144 |   |
| Cash                provided by investing activities of continuing operations                  |   |                                                              | 2,200   |                                           |   | 1,509 |   |
| Cash                provided by investing activities of discontinued                operations |   |                                                              | 27,562  |                                           |   | 1,358 |   |
| Net                cash provided by investing activities                                       |   |                                                              | 29,762  |                                           |   | 2,867 |   |
|                                                                                           |   |                                                              |    |                                           |   |   |   |
| **Financing                activities**                                                        |   |                                                              |    |                                           |   |   |   |
| Payments                of notes payable                                                       |   |                                                              | (10,000 | )                                              |   | (3,000 | ) |
| Cash                distribution to Class A members                                            |   |                                                              | (35,048 | )                                              |   | -- |   |
| Cash                distribution to Class B member                                             |   |                                                              | (6,316  | )                                              |   | -- |   |
| Net                cash used in financing activities                                           |   |                                                              | (51,364 | )                                              |   | (3,000 | ) |
|                                                                                           |   |                                                              |    |                                           |   |   |   |
| Net                (decrease) increase in cash and cash equivalents                            |   |                                                              | (11,303 | )                                              |   | 11,408 |   |
| Cash                and cash equivalents at beginning of period                                |   |                                                              | 15,646  |                                           |   | 4,238 |   |
| Cash                and cash equivalents at end of period                                      |   | $                                                                 | 4,343   |                                           | $      | 15,646 |   |
|                                                                                           |   |                                                              |    |                                           |   |   |   |
| **Supplemental                information**                                                    |   |                                                              |    |                                           |   |   |   |
| Interest                paid                                                                   |   | $                                                                 | 6       |                                           | $      | 956 |   |

----

**PROFESSIONAL      LEASE MANAGEMENT INCOME FUND I, L.L.C.**

**(A      Delaware Limited Liability Company)**

**NOTES      TO FINANCIAL STATEMENTS**

|                                                           |   | As         |   |       |   |     |   |
|----------------------------------------------------------------|--------|------------|--------|------------|--------|----------|--------|
|                                                           |   | Previously |   |       |   | As       |   |
|                                                           |   | Reported   |   | Adjustment |   | Restated |   |
| Cash                provided by operating                      |   |       |   |       |   |     |   |
| activities                of continuing operations             |   |       | 18,850 |       |   | (10,043  | )      |   | 8,807 |   |
| Cash                (used in) provided by operating activities |   |       |   |       |   |     |   |   |   |   |
| of                discontinued operations                      |   |       | (8,551 | )          |   | 10,043   |   |   | 1,492 |   |

|                                                 |   | As         |   |       |   |     |   |
|------------------------------------------------------|--------|------------|--------|------------|--------|----------|--------|
|                                                 |   | Previously |   |       |   | As       |   |
|                                                 |   | Reported   |   | Adjustment |   | Restated |   |
| Cash                provided by operating            |   |       |   |       |   |     |   |
| activities                of continuing operations   |   |       | 9,413  |       |   | 778      |   |   | 10,191 |   |
| Cash                provided by operating activities |   |       |   |       |   |     |   |   |   |   |
| of                discontinued operations            |   |       | 2,128  |       |   | (778     | )      |   | 1,350 |   |

----

**PROFESSIONAL      LEASE MANAGEMENT INCOME FUND I, L.L.C.**

**(A      Delaware Limited Liability Company)**

**NOTES      TO FINANCIAL STATEMENTS**

----

**PROFESSIONAL      LEASE MANAGEMENT INCOME FUND I, L.L.C.**

**(A      Delaware Limited Liability Company)**

**NOTES      TO FINANCIAL STATEMENTS**

----

**PROFESSIONAL      LEASE MANAGEMENT INCOME FUND I, L.L.C.**

**(A      Delaware Limited Liability Company)**

**NOTES      TO FINANCIAL STATEMENTS**

----

**PROFESSIONAL      LEASE MANAGEMENT INCOME FUND I, L.L.C.**

**(A      Delaware Limited Liability Company)**

**NOTES      TO FINANCIAL STATEMENTS**

|                                                          |   | 2005   |   | 2004   |   |
|---------------------------------------------------------------|--------|--------|--------|--------|--------|
| Revenues                                                      |   |   |   |   |   |
| Lease                revenue                                  |   | $      | 2,479  |   | $      | 3,791 |   |
| Interest                and other income                      |   |   | 52     |   |   | 6 |   |
| Gain                on disposition of equipment               |   |   | 176    |   |   | 664 |   |
| Total                revenues                                 |   |   | 2,707  |   |   | 4,461 |   |
|                                                          |   |   |   |   |   |   |   |
| Expenses                                                      |   |   |   |   |   |   |   |
| Depreciation                                                  |   |   | 1,508  |   |   | 3,012 |   |
| Operations                support                             |   |   | 295    |   |   | 1,251 |   |
| Management                fees to affiliate                   |   |   | 169    |   |   | 253 |   |
| General                and administrative expenses            |   |   |   |   |   |   |   |
| to                affiliates                                  |   |   | 305    |   |   | 393 |   |
| General                and administrative expenses            |   |   | 289    |   |   | 278 |   |
| (Recovery                of) provision for bad debts          |   |   | (57    | )      |   | 52 |   |
| Total                expenses                                 |   |   | 2,509  |   |   | 5,239 |   |
| Income                (loss) from operation of                |   |   |   |   |   |   |   |
| discontinued                operations                        |   | $      | 198    |   | $      | (778 | ) |
|                                                          |   |   |   |   |   |   |   |
| Gain                on disposition of discontinued operations |   | $      | 9,845  |   | $      | -- |   |

----

**PROFESSIONAL      LEASE MANAGEMENT INCOME FUND I, L.L.C.**

**(A      Delaware Limited Liability Company)**

**NOTES      TO CONDENSED FINANCIAL STATEMENTS**

| **Assets**                                              |   | 2005   |   | 2004   |   |
|---------------------------------------------------------|--------|--------|--------|--------|--------|
| Equipment                held for operating leases, net |   | $      | --     |   | $      | 19,051 |   |
| Accounts                receivable, net                 |   |   | 27     |   |   | 241 |   |
| Other                assets                             |   |   | --     |   |   | 64 |   |
| Total                assets held for sale               |   | $      | 27     |   | $      | 19,356 |   |
| **Liabilities**                                         |   |   |   |   |   |   |   |
| Account                payable and other liabilities    |   | $      | 43     |   | $      | 300 |   |
| Due                to affiliates                        |   |   | --     |   |   | 61 |   |
| Total                liabilities held for sale          |   | $      | 43     |   | $      | 361 |   |

|                                              |   | 2005   |   | 2004   |   |
|---------------------------------------------------|--------|--------|--------|--------|--------|
| Management                fees                    |   | $      | 169    |   | $      | 253 |   |
| Data                processing and administrative |   |   |   |   |   |   |   |
| expenses                                          |   |   | 305    |   |   | 393 |   |

----

**PROFESSIONAL      LEASE MANAGEMENT INCOME FUND I, L.L.C.**

**(A      Delaware Limited Liability Company)**

**NOTES      TO FINANCIAL STATEMENTS**

|                                              |   | Owned                Equipment |   | Equity                Investments |   |
|---------------------------------------------------|--------|--------------------------------|--------|-----------------------------------|--------|
|                                              |   | 2005                           |   | 2004                              |   | 2005 |   | 2004 |   |
| Management                fees                    |   | $                              | 706    |                              | $      | 953 |   | $ | 57 |   | $ | 62 |   |
| Data                processing and administrative |   |                           |   |                              |   |   |   |   |   |   |   |   |   |
| expenses                                          |   |                           | 193    |                              |   | 98 |   |   | 8 |   |   | 6 |   |

| Equipment                Held for Operating Leases |   | 2005   |    | 2004   |   |
|----------------------------------------------------|--------|--------|---------|--------|--------|
| Marine                containers                   |   | $      | 29,505  |   | $      | 30,414 |   |
| Marine                vessel                       |   |   | 17,000  |   |   | 17,000 |   |
| Aircraft                                           |   |   | --      |   |   | 10,494 |   |
|                                               |   |   | 46,505  |   |   | 57,908 |   |
| Less                accumulated depreciation       |   |   | (32,240 | )      |   | (40,329 | ) |
| Net                equipment                       |   | $      | 14,265  |   | $      | 17,579 |   |

----

**PROFESSIONAL      LEASE MANAGEMENT INCOME FUND I, L.L.C.**

**(A      Delaware Limited Liability Company)**

**NOTES      TO FINANCIAL STATEMENTS**

|                                   |   | TWA                      |   | TWA    |   |   |   |
|----------------------------------------|--------|--------------------------|--------|--------|--------|--------|--------|
|                                   |   | S/N                49183 |   | MD-82  |   |   |   |
| As                of December 31, 2005 |   |                     | Trust1 |   |   | Trust2 |   |   | Total |   |

| Assets                                                 |   |   |   |   |   |   |   |
|--------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|
| Equipment                less accumulated depreciation |   | $      | --     |   | $      | 419    |   |   |   |   |
| Total                assets                            |   | $      | --     |   | $      | 419    |   |   |   |   |
| Liabilities                                            |   |   |   |   |   |   |   |   |   |   |
| Due                to affiliates                       |   | $      | 5      |   | $      | 5      |   |   |   |   |
| Total                liabilities                       |   |   | 5      |   |   | 5      |   |   |   |   |
|                                                   |   |   |   |   |   |   |   |   |   |   |
| Equity                                                 |   |   | (5     | )      |   | 414    |   |   |   |   |
| Total                liabilities and equity            |   | $      | --     |   | $      | 419    |   |   |   |   |
|                                                   |   |   |   |   |   |   |   |   |   |   |
| Fund’s                share of equity            |   | $      | (2     | )      | $      | 202    |   | $ | 200 |   |

|                                   |   | TWA                      |   | TWA    |   | PLM       |   |   |                          |
|----------------------------------------|--------|--------------------------|--------|--------|--------|-----------|--------|--------|-------------------------------|
|                                   |   | S/N                49183 |   | MD-82  |   | Worldwide |   |   |                          |
| As                of December 31, 2004 |   |                     | Trust1 |   |   | Trust2    |   |   | Leasing                Corp.3 |   |   | Total |   |

| Assets                                                 |   |   |   |   |   |   |   |   |   |
|--------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Equipment                less accumulated depreciation |   | $      | --     |   | $      | 1,677  |   | $      | --     |   |   |   |   |
| Cash                and cash equivalents               |   |   | --     |   |   | --     |   |   | 140    |   |   |   |   |
| Accounts                receivable                     |   |   | 50     |   |   | 49     |   |   | 2,228  |   |   |   |   |
| Other                assets                            |   |   | --     |   |   | --     |   |   | 4      |   |   |   |   |
| Total                assets                            |   | $      | 50     |   | $      | 1,726  |   | $      | 2,372  |   |   |   |   |
| Liabilities                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Accounts                payable                        |   | $      | --     |   | $      | --     |   | $      | 2,205  |   |   |   |   |
| Due                to affiliates                       |   |   | 8      |   |   | 8      |   |   | --     |   |   |   |   |
| Total                liabilities                       |   |   | 8      |   |   | 8      |   |   | 2,205  |   |   |   |   |
|                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Equity                                                 |   |   | 42     |   |   | 1,718  |   |   | 167    |   |   |   |   |
| Total                liabilities and equity            |   | $      | 50     |   | $      | 1,726  |   | $      | 2,372  |   |   |   |   |
|                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Fund’s                share of equity            |   | $      | 21     |   | $      | 841    |   | $      | 42     |   | $ | 904 |   |

| 1  | The                Fund owns a 50% interest in the TWA S/N 49183 Trust that owns an                MD-82                stage III commercial aircraft. |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**PROFESSIONAL      LEASE MANAGEMENT INCOME FUND I, L.L.C.**

**(A      Delaware Limited Liability Company)**

**NOTES      TO FINANCIAL STATEMENTS**

|                                                |   | TWA                      |   | TWA    |   | PLM       |   |   |                          |
|-----------------------------------------------------|--------|--------------------------|--------|--------|--------|-----------|--------|--------|-------------------------------|
|                                                |   | S/N                49183 |   | MD-82  |   | Worldwide |   |   |                          |
| For                the year ended December 31, 2005 |   |                     | Trust1 |   |   | Trust2    |   |   | Leasing                Corp.3 |   |   | Total |   |

| Lease                revenues and interest and other income |   | $      | 1,152  |   | $      | 1,153  |   | $      | 601    |   |   |   |   |
|-------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Less:                Depreciation expense                   |   |   | --     |   |   | 1,258  |   |   | --     |   |   |   |   |
| General                and administrative expenses          |   |   | 71     |   |   | 71     |   |   | 590    |   |   |   |   |
| Net                income (loss)                            |   | $      | 1,081  |   | $      | (176   | )      | $      | 11     |   |   |   |   |
|                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Fund’s                share of net income (loss)      |   | $      | 541    |   | $      | (74    | )      | $      | 1      |   | $      | 468    |   |

|                                                |   | TWA                      |   | TWA    |   | PLM       |   |   |                          |
|-----------------------------------------------------|--------|--------------------------|--------|--------|--------|-----------|--------|--------|-------------------------------|
|                                                |   | S/N                49183 |   | MD-82  |   | Worldwide |   |   |                          |
| For                the year ended December 31, 2004 |   |                     | Trust1 |   |   | Trust2    |   |   | Leasing                Corp.3 |   |   | Total |   |

| Lease                revenues and interest and other income |   | $      | 1,250  |   | $      | 1,249  |   |   |   |   |   |   |   |
|-------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Less:                Depreciation expense                   |   |   | --     |   |   | 1,258  |   |   |   |   |   |   |   |
| General                and administrative expenses          |   |   | 74     |   |   | 74     |   |   |   |   |   |   |   |
| Net                income (loss)                            |   | $      | 1,176  |   | $      | (83    | )      |   |   |   |   |   |   |
|                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Fund’s                share of net income (loss)      |   | $      | 588    |   | $      | (28    | )      | $      | 42     |   | $      | 602    |   |

| 1.  | The                Fund owns a 50% interest in the TWA S/N 49183 Trust that owns an                MD-82                stage III commercial aircraft. |
|----------|--------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**PROFESSIONAL      LEASE MANAGEMENT INCOME FUND I, L.L.C.**

**(A      Delaware Limited Liability Company)**

**NOTES      TO FINANCIAL STATEMENTS**

|                                                    |   | Marine  |   |     |   |    |   | Marine    |   |   |   |   |   |
|---------------------------------------------------------|--------|---------|--------|----------|--------|---------|--------|-----------|--------|--------|--------|--------|--------|
| For                the year ended                       |   | Vessel  |   | Aircraft |   | Trailer |   | Container |   |   |   |   |   |
| December                31, 2005                        |   | Leasing |   | Leasing  |   | Leasing |   | Leasing   |   | Other1 |   | Total  |   |
|                                                    |   |    |   |     |   |    |   |      |   |   |   |   |   |
| Revenues                                                |   |    |   |     |   |    |   |      |   |   |   |   |   |
| Lease                revenue                            |   | $       | 9,637  |     | $      | 551     |   | $         | --     |   | $      | 4,304  |   | $ | -- |   | $ | 14,492 |   |
| Interest                income and other income         |   |    | 4      |     |   | 12      |   |      | (17    | )      |   | --     |   |   | 493 |   |   | 492 |   |
| Gain                on disposition of equipment         |   |    | --     |     |   | 2,240   |   |      | --     |   |   | 402    |   |   | -- |   |   | 2,642 |   |
| Total                revenues                           |   |    | 9,641  |     |   | 2,803   |   |      | (17    | )      |   | 4,706  |   |   | 493 |   |   | 17,626 |   |
|                                                    |   |    |   |     |   |    |   |      |   |   |   |   |   |   |   |   |   |   |   |
| Expenses                                                |   |    |   |     |   |    |   |      |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation                                            |   |    | 949    |     |   | --      |   |      | --     |   |   | 2,047  |   |   | -- |   |   | 2,996 |   |
| Operations                support                       |   |    | 5,818  |     |   | 143     |   |      | 1      |   |   | 42     |   |   | -- |   |   | 6,004 |   |
| Management                fees to affiliate             |   |    | 481    |     |   | (16     | )      |      | 26     |   |   | 215    |   |   | -- |   |   | 706 |   |
| Interest                expense                         |   |    | --     |     |   | --      |   |      | --     |   |   | --     |   |   | 42 |   |   | 42 |   |
| General                and administrative expenses      |   |    | 88     |     |   | 94      |   |      | --     |   |   | --     |   |   | 778 |   |   | 960 |   |
| Provision                for bad debts                  |   |    | 15     |     |   | 188     |   |      | --     |   |   | --     |   |   | -- |   |   | 203 |   |
| Total                expenses                           |   |    | 7,351  |     |   | 409     |   |      | 27     |   |   | 2,304  |   |   | 820 |   |   | 10,911 |   |
| Equity                in net income of equity           |   |    |   |     |   |    |   |      |   |   |   |   |   |   |   |   |   |   |   |
| investments                                             |   |    | --     |     |   | 468     |   |      | --     |   |   | --     |   |   | -- |   |   | 468 |   |
| Income                (loss) from continuing operations |   | $       | 2,290  |     | $      | 2,862   |   | $         | (44    | )      | $      | 2,402  |   | $ | (327 | ) | $ | 7,183 |   |
|                                                    |   |    |   |     |   |    |   |      |   |   |   |   |   |   |   |   |   |   |   |
| Total                assets as of December 31, 2005     |   | $       | 5,573  |     | $      | 200     |   | $         | --     |   | $      | 11,361 |   | $ | 4,519 |   | $ | 21,653 |   |

|                                                    |   | Marine  |   |     |   |    |   | Marine    |   |   |   |   |   |
|---------------------------------------------------------|--------|---------|--------|----------|--------|---------|--------|-----------|--------|--------|--------|--------|--------|
| For                the year ended                       |   | Vessel  |   | Aircraft |   | Trailer |   | Container |   |   |   |   |   |
| December                31, 2004                        |   | Leasing |   | Leasing  |   | Leasing |   | Leasing   |   | Other1 |   | Total  |   |
|                                                    |   |    |   |     |   |    |   |      |   |   |   |   |   |
| Revenues                                                |   |    |   |     |   |    |   |      |   |   |   |   |   |
| Lease                revenue                            |   | $       | 10,698 |     | $      | 1,087   |   | $         | 27     |   | $      | 4,795  |   | $ | -- |   | $ | 16,607 |   |
| Interest                income and other income         |   |    | --     |     |   | 656     |   |      | --     |   |   | --     |   |   | 142 |   |   | 798 |   |
| Gain                (loss) on disposition of equipment  |   |    | --     |     |   | 1,660   |   |      | (2     | )      |   | 213    |   |   | -- |   |   | 1,871 |   |
| Total                revenues                           |   |    | 10,698 |     |   | 3,403   |   |      | 25     |   |   | 5,008  |   |   | 142 |   |   | 19,276 |   |
|                                                    |   |    |   |     |   |    |   |      |   |   |   |   |   |   |   |   |   |   |   |
| Expenses                                                |   |    |   |     |   |    |   |      |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation                                            |   |    | 1,028  |     |   | --      |   |      | --     |   |   | 2,510  |   |   | -- |   |   | 3,538 |   |
| Operations                support                       |   |    | 6,046  |     |   | 34      |   |      | 30     |   |   | 81     |   |   | -- |   |   | 6,191 |   |
| Management                fees to affiliate             |   |    | 535    |     |   | 124     |   |      | 54     |   |   | 240    |   |   | -- |   |   | 953 |   |
| Interest                expense                         |   |    | --     |     |   | --      |   |      | --     |   |   | --     |   |   | 973 |   |   | 973 |   |
| General                and administrative expenses      |   |    | 75     |     |   | 324     |   |      | 37     |   |   | --     |   |   | 884 |   |   | 1,320 |   |
| Recovery                of bad debts                    |   |    | --     |     |   | (1,482  | )      |      | (1     | )      |   | --     |   |   | -- |   |   | (1,483 | ) |
| Total                expenses                           |   |    | 7,684  |     |   | (1,000  | )      |      | 120    |   |   | 2,831  |   |   | 1,857 |   |   | 11,492 |   |
| Equity                in net income of equity           |   |    |   |     |   |    |   |      |   |   |   |   |   |   |   |   |   |   |   |
| investments                                             |   |    | --     |     |   | 602     |   |      | --     |   |   | --     |   |   | -- |   |   | 602 |   |
| Income                (loss) from continuing operations |   | $       | 3,014  |     | $      | 5,005   |   | $         | (95    | )      | $      | 2,177  |   | $ | (1,715 | ) | $ | 8,386 |   |
|                                                    |   |    |   |     |   |    |   |      |   |   |   |   |   |   |   |   |   |   |   |
| Total                assets as of December 31, 2004     |   | $       | 6,358  |     | $      | 1,907   |   | $         | 605    |   | $      | 13,933 |   | $ | 35,127 |   | $ | 57,930 |   |

| 1 | Includes                certain assets not identifiable to a specific segment such as cash                and                cash equivalents, certain accounts receivables and other assets and                assets                held for sale. Also includes certain interest income and costs not                identifiable to a particular segment, such as certain general and                administrative expenses. |
|---|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**PROFESSIONAL      LEASE MANAGEMENT INCOME FUND I, L.L.C.**

**(A      Delaware Limited Liability Company)**

**NOTES      TO FINANCIAL STATEMENTS**

|                             |   | Owned                Equipment |   |
|----------------------------------|--------|--------------------------------|--------|
| Region                           |   | 2005                           |   | 2004 |   |
| United                States     |   | $                              | --     |   | $ | 27 |   |
| South                America     |   |                           | 551    |   |   | 1,087 |   |
| Rest                of the world |   |                           | 13,941 |   |   | 15,493 |   |
| Lease                revenues    |   | $                              | 14,492 |   | $ | 16,607 |   |

|                                             |   | Owned                Equipment |   | Equity                Investments |   |
|--------------------------------------------------|--------|--------------------------------|--------|-----------------------------------|--------|
| Region                                           |   | 2005                           |   | 2004                              |   | 2005 |   | 2004 |   |
| United                States                     |   | $                              | (44    | )                                 | $      | (95 | ) | $ | 468 |   | $ | 602 |   |
| South                America                     |   |                           | 2,394  |                              |   | 4,404 |   |   | -- |   |   | -- |   |
| Rest                of the world                 |   |                           | 4,692  |                              |   | 5,191 |   |   | -- |   |   | -- |   |
| Regional                income                   |   |                           | 7,042  |                              |   | 9,500 |   |   | 468 |   |   | 602 |   |
| Administrative                and other          |   |                           | (327   | )                                 |   | (1,716 | ) |   | -- |   |   | -- |   |
| Income                from continuing operations |   | $                              | 6,715  |                              | $      | 7,784 |   | $ | 468 |   | $ | 602 |   |

|                             |   | Owned                Equipment |   | Equity                Investments |   |
|----------------------------------|--------|--------------------------------|--------|-----------------------------------|--------|
| Region                           |   | 2005                           |   | 2004                              |   | 2005 |   | 2004 |   |
| United                States     |   | $                              | --     |                              | $      | -- |   | $ | 200 |   | $ | 904 |   |
| Rest                of the world |   |                           | 14,265 |                              |   | 17,579 |   |   | -- |   |   | -- |   |
| Net                book value    |   | $                              | 14,265 |                              | $      | 17,579 |   | $ | 200 |   | $ | 904 |   |

----

**PROFESSIONAL      LEASE MANAGEMENT INCOME FUND I, L.L.C.**

**(A      Delaware Limited Liability Company)**

**NOTES      TO FINANCIAL STATEMENTS**

|                                                                                           |   | 2005   |      | 2004   |   |
|------------------------------------------------------------------------------------------------|--------|--------|-----------|--------|--------|
| Attributable                to Class A members:                                                |   |   |      |   |   |
| Basic                income from continuing operations                                         |   | $      | 7,183     |   | $      | 8,386 |   |
| Special                allocation of loss                                                      |   |   | (6,316    | )      |   | -- |   |
| Income                from continuing operations attributable toClass                A members |   |   | 867       |   |   | 8,386 |   |
| Income                (loss) from operation of                                                 |   |   |      |   |   |   |   |
| discontinued                operations                                                         |   |   | 178       |   |   | (778 | ) |
| Gain                on disposition of discontinued operations                                  |   |   | 9,865     |   |   | -- |   |
| Net                income                                                                      |   | $      | 10,910    |   | $      | 7,608 |   |
|                                                                                           |   |   |      |   |   |   |   |
| Weighted                average Class A units outstanding                                      |   |   | 4,971,311 |   |   | 4,971,311 |   |
| Basic                earnings per weighted average Class A unit:                               |   |   |      |   |   |   |   |
| Income                from continuing operations                                               |   | $      | 0.17      |   | $      | 1.69 |   |
| Income                (loss) from operation of                                                 |   |   |      |   |   |   |   |
| discontinued                operations                                                         |   |   | 0.04      |   |   | (0.16 | ) |
| Gain                on disposition of discontinued operations                                  |   |   | 1.98      |   |   | -- |   |
| Net                income per weighted average Class A unit                                    |   | $      | 2.19      |   | $      | 1.53 |   |

|                                           |   | 2005   |   | 2004   |   |
|------------------------------------------------|--------|--------|--------|--------|--------|
|                                           |   |   |   |   |   |
| Trade                accounts receivables      |   | $      | 2,325  |   | $      | 2,472 |   |
| Other                receivables               |   |   | --     |   |   | 862 |   |
| Allowance                for doubtful accounts |   |   | (15    | )      |   | -- |   |
|                                           |   | $      | 2,310  |   | $      | 3,334 |   |

----

**PROFESSIONAL      LEASE MANAGEMENT INCOME FUND I, L.L.C.**

**(A      Delaware Limited Liability Company)**

**NOTES      TO FINANCIAL STATEMENTS**

|                                    |   | 2005   |   | 2004   |   |
|-----------------------------------------|--------|--------|--------|--------|--------|
| Inventory                               |   | $      | 272    |   | $      | 253 |   |
| Prepaid                expenses         |   |   | 231    |   |   | 279 |   |
| Other                assets             |   |   | 5      |   |   | 5 |   |
| Finance                lease receivable |   |   | --     |   |   | 538 |   |
| Debt                placement fees, net |   |   | --     |   |   | 36 |   |
|                                    |   | $      | 508    |   | $      | 1,111 |   |

----

**PROFESSIONAL      LEASE MANAGEMENT INCOME FUND I, L.L.C.**

**(A      Delaware Limited Liability Company)**

**NOTES      TO FINANCIAL STATEMENTS**

----

**PROFESSIONAL      LEASE MANAGEMENT INCOME FUND I, L.L.C.**

**INDEX      OF EXHIBITS**

| Exhibit |   | Page                                                                                                                                                           |
|---------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |   |                                                                                                                                                           |   |
| 4.      |   | Operating                Agreement of Fund.                                                                                                                    | *  |
|    |   |                                                                                                                                                           |   |
| 10.     | 1      | Management                Agreement between Fund and PLM Investment                                                                                            | * |
|    |   | Management,                Inc.                                                                                                                                |   |
|    |   |                                                                                                                                                           |   |
| 10.     | 2      | $25.0                Million Note Agreement, dated as of December 30, 1996.                                                                                    | * |
|    |   |                                                                                                                                                           |   |
| 10.     | 3      | Settlement                Agreement between PLM Worldwide Leasing Corp. and Varig                                                                              |   |
|    |   | S.A.                dated October 11, 2002.                                                                                                                    | * |
|    |   |                                                                                                                                                           |   |
| 10.     | 4      | Modification                of Settlement Agreement between PLM Worldwide Leasing Corp. and Varig                S.A.                dated September 24, 2004. |  * |
|    |   |                                                                                                                                                           |   |
| 14.     |   | PLM                Financial Services Inc. Code of Ethics.                                                                                                     | * |
|    |   |                                                                                                                                                           |   |
| 31.     | 1      | Certificate                of President of the Manager pursuant to Section 302 of Sarbanes -                Oxley                Act of 2002.                  | 25 |
|    |   |                                                                                                                                                           |   |
| 31.     | 2      | Certificate                of Chief Financial Officer of the Manager pursuant to Section 302                of                Sarbanes - Oxley Act of 2002.    | 26 |
|    |   |                                                                                                                                                           |   |
| 32.     | 1      | Certificate                of President of the Manager pursuant to Section 906 of Sarbanes -                Oxley                Act of 2002.                  | 27 |
|    |   |                                                                                                                                                           |   |
| 32.     | 2      | Certificate                of Chief Financial Officer of the Manager pursuant to Section 906                of                Sarbanes - Oxley Act of 2002.    | 28 |
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