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CRITEF-I PARTNERSHIP REPORTS SECOND QUARTER CASH FLOW OF 24 CENTS PER BAC

 ROCKVILLE, Md., Sept. 22 /PRNewswire/ -- Capital Realty Investors Tax Exempt Fund Limited Partnership-Series I (CRITEF-I) (AMEX: CRA) reported that total cash flow from operations for the three months ended June 30, 1993, was $556,544 (approximately 24 cents per Beneficial Assignee Certificate or BAC), up from $466,699 (approximately 20 cents per BAC), for the same period last year.
 Total cash flow increased for the second quarter of 1993 primarily due to an increase in cash flow from operations of the multifamily properties underlying the partnership's investments in tax-exempt mortgage revenue bonds.
 Total cash flow, rather than net income, is a more accurate indicator of this partnership's performance because net income includes depreciation, a non-cash item and does not include cash flow from partnership reserves. Also, cash flow, rather than net income, is the basis for paying distributions to BAC holders.
 For the six months ending June 30, 1993, total cash flow was approximately $1.1 million (50 cents per BAC) compared with approximately $1.5 million (66 cents per BAC) for the first six months of 1992. The difference is primarily due to two factors: the one-time receipt during last year's first quarter of proceeds from the sale of one asset and the use of property level reserves to supplement distributions for the first half of last year.
 Net income for the three months ended June 30, 1993, was $66,601 (approximately 3 cents per BAC) compared with a loss of $3,696 (approximately 0.02 cents per BAC) for the second quarter of 1992. Net income includes non-cash items such as depreciation.
 CRITEF-I is one of two series of securities issued by one partnership -- Capital Realty Investors Tax Exempt Fund Limited Partnership. The partnership was formed in 1986. It offered Series I BACs to investors and invested the offering's net proceeds in five federally tax-exempt municipal mortgage revenue bonds used to finance multifamily housing. All of the properties are located in Minnesota.
 CAPITAL REALTY INVESTORS TAX EXEMPT FUND LIMITED PARTNERSHIP,
 SERIES I (CRITEF I)
 Summary of Cash Flow and Net Income
 (Unaudited)
 For the 3 months ended For the 6 months ended
 June 30, June 30,
 1993 1992 1993 1992
 Cash Flow:
 Cash flow from the
 partnership's
 operations $583,187 $558,267 $1,168,831 $1,236,982
 Net deposits to
 working capital/
 interest reserves (26,643) (91,568) (26,643) (91,568)
 Net proceeds from
 sale of asset -- -- -- 365,544
 Net other cash flow (26,643) (91,568) (26,643) 273,976
 Total cash flow $556,544 $466,699 $1,142,188 $1,510,958
 Distributions paid to:
 General partner -- -- $2,188 $15,278
 BAC holders -- -- $1,140,000 $1,495,680(A)
 Cash Flow per BAC:
 Cash flow from the
 partnership's
 operations $0.2558 $0.2449 $0.5127 $0.5425
 Net deposits to
 working capital/
 interest reserves (0.0117) (0.0402) (0.0117) (0.0402)
 Net proceeds from
 sale of asset -- -- -- 0.1603
 Net other cash flow (0.0117) (0.0402) (0.0117) 0.1201
 Total cash flow $0.2441 $0.2047 $0.5010 $0.6626
 Distribution per
 BAC paid to:
 General partner -- -- $0.0010 $0.0066
 BAC holders -- -- $0.5000 $0.6560(A)
 Financial Statement
 Net Income:
 Net rental income
 (loss) (includes
 depreciation) $86,121 $(2,574) $192,348 $14,354
 Mortgage revenue
 bond interest 31,999 66,640 64,000 93,036
 Total investment
 income 118,120 64,066 256,348 107,390
 Other income
 (expenses) (51,519) (67,762) (116,664) (135,355)
 Net income (loss) $66,601 $(3,696) $139,684 $(27,965)
 Net income (loss)
 allocated to BAC
 holders
 (98.99 pct.) $65,928 $(3,659) $138,273 $(27,683)
 Net income (loss)
 per BAC $0.03 $(0.002) $0.06 $(0.01)
 BACs outstanding 2,280,000 2,280,000 2,280,000 2,280,000
 (A) The 1992 distribution includes proceeds from the sale of Greenhaven.
 -0- 9/22/93
 /CONTACT: James T. Pastore, 301-231-0323, or Kathleen G. Sloan, 301-231-0384, both for CRITEF-I/
 (CRA)


CO: Capital realty Investors Tax Exempt Fund Limited
 Partnership-Series I ST: Maryland IN: FIN SU: ERN


DC-MH -- DC014 -- 4669 09/22/93 12:07 EDT
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Publication:PR Newswire
Date:Sep 22, 1993
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