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TRANSCONTINENTAL REALTY INVESTORS REPORTS YEAR-END RESULTS

 TRANSCONTINENTAL REALTY INVESTORS REPORTS YEAR-END RESULTS
 DALLAS, April 15 /PRNewswire/ -- Transcontinental Realty Investors, Inc. (NYSE: TCI) today announced operating results for the year ended Dec. 31, 1991.
 The company recorded a net loss of $16.1 million, or $5.34 per share, on revenues of $24.6 million for 1991, compared with net loss of $7.4 million, or $2.33 per share, on revenues of $28.8 million for 1990.
 Net rental income (rental income less property operations expenses) for fiscal 1991 was $6.9 million, compared with $8.4 million in 1990. The decrease was attributable to the foreclosure of a mortgage loan secured by the Montgomery Airport Plaza office building located in San Diego in June 1991 as well as the sale of four nursing homes and an office building.
 The company recorded a provision for losses of $15.3 million in 1991 as compared to $5.4 million in 1990. Transcontinental Realty Investors, Inc. recorded $4.7 million in provision for losses for the fourth quarter of 1991, compared with a $611,000 provision for losses in the fourth quarter of 1990.
 Transcontinental Realty Investors, Inc. is a combination mortgage and equity real estate investment trust which operates nationwide.
 TRANSCONTINENTAL REALTY INVESTORS, INC.
 Financial Highlights
 (In thousands, except share and per-share data)
 Years ended Dec. 31 1991 1990
 Income $24,608 $28,826
 (Loss) before gain on sale
 of real estate and extraordinary
 gain (18,111) (7,357)
 Gain on sale of real estate 873 --
 Extraordinary gain 1,176 --
 Net (loss) (16,062) (7,357)
 Earnings per share
 (Loss) before gain on sale
 of real estate and extraordinary
 gain $(6.02) $(2.33)
 Gain on sale of real estate 0.29 --
 Extraordinary gain 0.39 --
 Net (loss) (5.34) (2.33)
 Weighted average shares of
 beneficial interest used in
 computing earnings per share 3,009,116 3,162,789
 -0- 4/15/92
 /CONTACT: Kevin LeBlanc of National Realty Advisors, 214-692-4800/
 (TCI) CO: Transcontinental Realty Investors, Inc. ST: Texas IN: FIN SU: ERN


CK -- NY042 -- 8618 04/15/92 10:53 EDT
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Date:Apr 15, 1992
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