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LNH REIT, INC. REPORTS FOURTH QUARTER AND 1992 YEAR END RESULTS

 JACKSON, Miss., March 30 /PRNewswire/ -- LNH REIT, Inc. (NYSE: LHC) announced today results for the fourth quarter and year ended Dec. 31, 1992.
 Funds from operations were $.12 per share for the three months ended Dec. 31, 1992, compared to $.12 per share for the same period of 1991. Funds from operations were $.61 per share for the year ended Dec. 31, 1992, compared to $.51 per share for 1991. Funds from operations is defined as funds provided by operating activities before changes in operating assets and liabilities.
 Income from operations for the three months ended Dec. 31, 1992, was $266,000 ($.12 per share) compared to income from operations of $272,000 ($.12 per share) for the same period of 1991. For the year ended Dec. 31, 1992, income from operations was $23,000 ($.01 per share) compared to income from operations of $1,104,000 ($.50 per share) for 1991.
 The net loss was $462,000 ($.21 per share) for the three months ended Dec. 31, 1992, and $2,146,000 ($.98 per share) for the year ended Dec. 31, 1992. This compares to net income of $272,000 ($.12 per share) and $2,451,000 ($1.11 per share) for the three months and year ended Dec. 31, 1991, respectively.
 During the year ended Dec. 31, 1992, the company recorded a provision for losses of $1,356,000 ($.62 per share) related to investments in real estate and mortgage loans which was included in loss from operations. Management believes that the provision was necessary to reflect the investments at their estimated current net realizable value.
 In addition to the provision for losses, the company reported a loss on investments for the year ended Dec. 31, 1992, of $2,169,000 ($.99 per share). The loss for 1992 includes a $1,350,000 writedown of the Linpro Commerce Center mortgage loan and land purchase-leaseback investment, located in Fort Lauderdale, Fla., to its estimated net realizable value upon the June 30, 1991, in-substance foreclosure. The company received a deed in lieu of foreclosure on this asset on Dec. 16, 1992. The company also recorded a writedown of $731,000 in 1992 on the investment in Liberte' Investors' (formerly Lomas & Nettleton Mortgage Investors) common stock reflecting an other than temporary decline in the market value of the stock.
 The $1,347,000 ($.61 per share) gain on investments for the year ended Dec. 31, 1991, represents the financial reporting gain on sale of marketable equity securities.
 LNH REIT
 Qtr. ended Year ended
 12/31/92 12/31/91 12/31/92 12/31/91
 (In thousands, except per share data)
 Revenues $ 620 $ 680 $ 2,770 $ 2,833
 Expenses (before provision for
 losses) (354) (375) (1,391) (1,621)
 Provision for losses --- (33) (1,356) (108)
 Income from operations 266 272 23 1,104
 Gain (loss) on investments (728) --- (2,169) 1,347
 Net income (loss) $ (462) $ 272 $(2,146) $ 2,451
 Per share:
 Income from operations $ .12 $ .12 $ .01 $ .50
 Gain (loss) on investments (.33) --- (.99) .61
 Net income (loss) $ (.21) $ .12 $ (.98) $ 1.11
 Avg. no. of shares outstanding 2,200 2,200 2,200 2,200
 -0- 3/30/93
 /CONTACT: N. Keith McKey, senior vice president, chief financial officer and assistant secretary of LNH REIT, 601-948-4091/
 (LHC)


CO: LNH REIT, Inc. ST: Mississippi IN: SU: ERN

RA-BN -- AT008 -- 1188 03/30/93 16:15 EST
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Date:Mar 30, 1993
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