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CF INCOME PARTNERS L.P. REPORTS 1992 YEAR-END RESULTS

 LOS ANGELES, Feb. 16 /PRNewswire/ -- CF Income Partners L.P. (NYSE: CFI), a Los Angeles-based master limited partnership, today reported a consolidated net loss of $14,649,000, or $1.11 per unit, for the year ended Dec. 31, 1992, compared to a consolidated net loss of $43,323,000, or $3.28 per unit, for the year ended Dec. 31, 1991. The reduction in net loss primarily resulted from a $1,750,000 provision for losses on real estate established in 1992, as compared with a $30,000,000 provision for losses on real estate and a $2,842,000 net loss on the sale of a commercial investment building recorded in 1991. The reduction in the net loss was somewhat offset by a $4,814,000 loss on real estate held for sale resulting from the dissolution of a consolidated partnership in 1992. Exclusive of these provisions, the operating loss for 1992 declined $2,396,000, from $10,481,000, or $.79 per unit, in 1991 to $8,085,000, or $.61 per unit, primarily as a result of reduced sales activity and correspondingly fewer losses on the resale portfolio, and a reduction of $1,666,000 in other expenses.
 Operating results from the partnership's investment portfolio for the year ended Dec. 31, 1992, reflected a loss of $1,483,000 compared to a loss of $1,330,000 in 1991. The loss increased $153,000 in 1992 primarily as a result of an increase in interest expense on property debt due to the compounding effect of the interest deferral features on the various properties.
 The activity of the partnership's resale portfolio for 1992 resulted in a loss of $1,447,000, before financing costs and general and administrative expenses incurred in administering the resale portfolio, as compared to a loss of $2,330,000 in 1991. The decreased losses of $883,000 experienced during 1992 primarily resulted from the absence of single-family home sales which resulted in losses during 1991.
 Other expenses declined $1,666,000 to $5,155,000 in 1992 from $6,821,000 in 1991. Contributing to this decline was a lower reference rate on the prime line credit facility resulting in lower interest expense. General and administrative expenses decreased $480,000, reflecting a reduction in overhead expenses and, in 1991, the partnership's organization costs were fully amortized, resulting in a $588,000 decrease in other expense.
 CF Income Partners L.P. is a publicly traded master limited partnership which has invested in income-producing multifamily residential, commercial and industrial properties.
 CF INCOME PARTNERS L.P. AND OPERATING PARTNERSHIPS
 Consolidated Statements of Operations
 (In thousands, except per unit data)
 For the years ended Dec. 31,
 1992 1991 1990
 Real estate held for
 investment:
 Rental revenue $25,099 $25,383 $24,833
 Tenant reimbursements 3,414 3,136 3,394
 Operating expenses (9,782) (9,601) (9,151)
 Total 18,731 18,918 19,076
 Depreciation (4,618) (5,164) (5,104)
 Ground rent (336) (468) (379)
 Interest expense on property
 debt (15,260) (14,616) (14,148)
 Loss from real estate
 held for investment (1,483) (1,330) (555)
 Real estate held for resale:
 Sales 1,673 8,539 25,887
 Cost of sales (1,742) (8,763) (22,969)
 Loss from operations (1,186) (1,169) ---
 (Loss) income from real estate
 held for sale (1,255) (1,393) 2,918
 (Loss) income from investments
 in real estate partnerships (192) (937) 1,135
 (Loss) income from real estate
 held for resale (1,447) (2,330) 4,053
 Other income (expense):
 Interest income 93 182 326
 Performance incentive fees to
 general partner --- --- (1,464)
 General and administrative
 expenses (1,718) (2,198) (2,741)
 Interest expense on Prime Line (1,433) (2,126) (2,574)
 Interest expense on Start-Up
 Loan (2,097) (2,091) (2,119)
 Amortization of organization
 costs --- (588) (640)
 Other income (expense) (5,155) (6,821) (9,212)
 Loss before provision for
 losses on real estate, loss
 on real estate held for sale
 and loss on sale of real estate
 held for investment (8,085) (10,481) (5,714)
 Provision for losses on
 real estate (1,750) (30,000) ---
 Loss on real estate held
 for sale (4,814) --- ---
 Loss on sale of real estate
 held for investment --- (2,842) ---
 Net loss ($14,649) ($43,323) ($5,714)
 Weighted average number of
 units outstanding 13,199 13,201 13,299
 Net loss per unit ($1.11) ($3.28) ($0.43)
 Cash distribution paid per unit --- $0.16 $1.00
 -0- 2/16/93
 /CONTACT: Barbara J. Pape, 213-930-6246, or Leeann Morein, 213-930-7050, both of CF Income Partners L.P./
 (CFI)


CO: CF Income Partners L.P. ST: California IN: FIN SU: ERN

KJ -- LA010 -- 6867 02/16/93 11:32 EST
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Date:Feb 16, 1993
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