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THE PRICE REIT INC. ANNOUNCES SECOND QUARTER RESULTS

 THE PRICE REIT INC. ANNOUNCES SECOND QUARTER RESULTS
 SAN DIEGO, Aug. 13 /PRNewswire/ -- The Price REIT Inc. announced


its operating results for the second quarter and six months ended June 30, 1992.
 Gross revenues (before minority interest) from rental and interest income for the six-month period amounted to $8,207,000. For the second quarter, gross revenues amounted to $4,786,000, up from the $3,421,000 reported for the previous quarter. Approximately $1,247,000 of the $1,365,000 in increased revenues can be attributed to the acquisition of three properties. The increase in revenues was offset by increased rental expenses and real estate taxes of $292,000, interest expense of $824,000 and depreciation of $371,000. The acquisitions should increase the co wi be tax deferred. For the six-month period, earnings per share were $.79 and dividends per share were $1.13, reflecting approximately 30 percent in tax-deferred distribution for the six- month period.
 During the second quarter, the company acquired three additional properties for a total purchase price of $62.5 million. The properties acquired consist of a 110,500-square-foot Price Club warehouse and a 389,000-square-foot shopping center located in Corona, Calif., and a 172,000-square-foot shopping center located in Cerritos, Calif. Financing for the acquisition was provided by a $25.5 million bank loan and the balance from two unsecured loans from Trusts of Sol Price. The latter loans may be changed into convertible debenture issue depending upon an Internale?venue Service ruling.
 The company now owns outright or has an interest in, through its joint venture with The Price Company, 12 properties totaling 2.1 million square feet of space with a combined occupancy of 97 percent. The company's ownership in these properties amounts to approximately $132 million.
 THE PRICE REIT INC.
 Financial Highlights
 Three Months Six Months
 Ended Ended
 June 30, 1992 June 30, 1992
 Gross revenues $4,786,000 8,207,000
 Expenses 1,909,000 2,559,000
 Depreciation 1,174,000 1,971,000
 Minority interest in income 722,000 1,374,000
 Net income 981,000 2,303,000
 Per share data
 Net income per share $.34 .79
 Dividend per share .56 1.13
 Shares outstanding 2,928,000 2,928,000
 -0- 8/13/92
 /CONTACT: George Jezek of The Price REIT, 619-551-2320/ CO: The Price REIT Inc. ST: California IN: SU: ERN


KJ-LS -- SD003 -- 9771 08/13/92 17:41 EDT
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Date:Aug 13, 1992
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