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RESORT INCOME INVESTORS ANNOUNCES SECOND QUARTER DISTRIBUTION

 RESORT INCOME INVESTORS ANNOUNCES SECOND QUARTER DISTRIBUTION
 LOS ANGELES, July 7 /PRNewswire/ -- Resort Income Investors Inc. (AMEX: RII) today announced the declaration of its second quarter distribution of $0.375 per share. The distribution is payable on Aug. 14, 1992, to shareholders of record on July 17, 1992. The company presently estimates that earnings for the second quarter will be approximately $0.25 per share.
 Resort Income Investors Inc. also announced that Peter V. Ueberroth resigned his position as a director of the company effective June 18, 1992. J. Thomas Talbott was nominated by the remaining independent directors to stand for election in Ueberroth's place at the company's annual meeting held on June 18, 1992. Talbott as well as Christopher B. Hemmeter, Mark M. Hemmeter, Daniel D. Lane and John R. Young were elected by the stockholders as directors of RII.
 The company operates as a real estate investment trust ("REIT") under the provisions of the Internal Revenue Code. As such, it is required to distribute to shareholders at least 95 percent of its taxable income each year to continue to qualify as a REIT.
 RII is a lender specializing in resort and gaming developments. The investment manager, which is an affiliate of Hemmeter Partners, is responsible for reviewing investment options and making investment recommendations to the RII board of directors.
 Christopher B. Hemmeter is a recognized leader in the development of luxury destination resorts. Previous developments of the Hemmeter Organization include the Hyatt Regency at Waikiki at Hemmeter Center in Honolulu, the Hyatt Regency Maui, the Westin Kauai at Kauai Lagoons, the Westin Maui and the Hyatt Regency Waikoloa on the big island of Hawaii.
 -0- 7/7/92
 /CONTACT: Greg Hooper of Resort Income Investors, 303-271-2558; or Gary Maier of Erickson Consulting Group, 310-829-4601, for Resort Income Investors/
 (RII) CO: Resort Income Investors Inc. ST: California, Hawaii IN: FIN SU: PER DIV ERP


EH-JL -- LA006 -- 6859 07/07/92 08:30 EDT
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Publication:PR Newswire
Date:Jul 7, 1992
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