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ANGELES MORTGAGE INVESTMENT TRUST REPORTS SECOND QUARTER FISCAL 1993 RESULTS

 LOS ANGELES, Oct. 29 /PRNewswire/ -- Angeles Mortgage Investment Trust (AMEX: ANM) today reported a net loss of ($19,000), or ($.01) per Class A share, in the fiscal year 1993 second quarter ended June 30. Revenue was $866,000. In the 1992 second quarter, net income was $1,799,000, or $.52 per Class A share, on revenue of $2,463,000.
 For the six months ended June 30, 1993, net income was $724,000, or $.21 per Class A share, on revenue of $2,264,000, compared with net income of $3,249,000, or $1.04 per Class A share, and revenue of $4,781,000, in the 1992 like period.
 The substantial decline in revenues and income, which resulted in the net loss for the second quarter, was attributable to the failure of a significant number of the Trust's borrowers to meet their respective debt service obligations and Angeles Corp.'s failure to satisfy its guaranty obligations to the Trust or to service its separate $10 million line of credit facility. As previously announced, the Trust has suspended payment of dividends.
 -0- 10/29/93 R
 /CONTACT: Ann Merguerian of Angeles Mortgage, 310-772-0147/


CO: Angeles Mortgage Investment Trust ST: California IN: FIN SU: ERN

OP -- LA034R -- 8811 10/29/93 20:17 EDT
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Publication:PR Newswire
Date:Oct 29, 1993
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