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AIM 85 DECLARES MONTHLY DISTRIBUTION FOR SEPTEMBER OF 20 CENTS PER UNIT

 ROCKVILLE, Md., Sept. 17 /PRNewswire/ -- The general partner of American Insurance Mortgage Investors - Series 85, L.P. (AIM 85) (AMEX: AII) declared today the monthly distribution for September 1993 in the amount of 20 cents per unit. Holders of record on Sept. 30, 1993, will receive the distribution for September of 20 cents per unit as part of the third quarter distribution which will be paid on Nov. 1, 1993.
 September's distribution of 20 cents per unit includes the following:
 -- 10 cents per unit of regular cash flow;
 -- 6 cents per unit as a result of the gains recognized on the disposition of two fully insured mortgages: Columbus Square Apartments and Westmount Apartments;
 -- 2 cents per unit of additional cash flow as a result of accrued but previously undistributed interest on the mortgages on Columbus Square Apartments and Westmount Apartments; and
 -- a 2 cents per unit gain recognized due to a subsequent adjustment to the sales price of a defaulted mortgage sold in 1992.
 The third quarter distribution will total 56.5 cents per unit and is composed of July's 26.5 cents per unit, August's 10 cents per unit and September's 20 cents per unit. The third quarter distribution is composed of 30 cents regular cash flow, 8 cents capital gains and 18.5 cents additional cash flow from dispositions of mortgages.
 Record dates for AIM 85's distribution occur at the end of each month; payments are made each quarter. Distributions are paid approximately one month after the end of each calendar quarter and cover the monthly distributions declared during the quarter.
 -0- 9/17/93
 /CONTACT: James T. Pastore, 301-231-0323, or Susan B. Railey, 301-468-3120, both for AIM 85/
 (AII)


CO: American Insured Mortgage Investors - Series 85, L.P. ST: Maryland IN: FIN SU: DIV

IH-MH -- DC032 -- 3199 09/17/93 16:04 EDT
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Publication:PR Newswire
Date:Sep 17, 1993
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