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CRITEF-II 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 II (CRITEF-II) (AMEX: CRB) reported that total cash flow from operations for the three months ended June 30, 1993, was $762,602 (approximately 24 cents per Beneficial Assignee Certificates or BAC), up from $712,277 (approximately 22 cents per BAC) for the same period last year. Total cash flow increased primarily due to growth in cash flow from the operations of the multifamily properties underlying the partnership's investments in mortgage revenue bonds.
 For the six months ended June 30, 1993, total cash flow was approximately $1.6 million (50 cents per BAC) which is approximately the same level as for the first six months of 1992.
 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, total cash flow, rather than net income, is the basis for paying distributions to BAC holders.
 Net income for the three months ended June 30, 1993, was $668,394 (approximately 20 cents per BAC), up from $90,285 (approximately 3 cents per BAC) for the same period of 1992. Net income includes non-cash items such as depreciation.
 CRITEF-II 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 II BACs to investors and invested the offering's net proceeds in five federally tax-exempt municipal mortgage revenue bonds used to finance multifamily housing. These properties are located in Minnesota and Washington state.


CAPITAL REALTY INVESTORS TAX EXEMPT FUND LIMITED PARTNERSHIP, SERIES II
 (CRITEF II)
 Summary of Cash Flow and Net Income
 (Unaudited)
 For the three months ended For the six months ended
 June 30, June 30,
 1993 1992 1993 1992
 Cash Flow:
 Cash flow from
 the Partnership's
 operations $834,518 $763,782 $1,694,373 $1,678,468
 Net deposits
 to working
 capital/interest
 reserves (71,916) (51,505) (71,916) (51,505)
 Total cash flow $762,602 $712,277 $1,622,457 $1,626,963
 Distributions
 paid to:
 General partner -- -- $ 3,077 $ 16,432
 BAC holders -- -- $1,619,380 $1,610,531
 Cash Flow
 per BAC:
 Cash flow from
 the Partnership's
 operations $0.2577 $0.2358 $0.5232 $0.5182
 Net deposits
 to working
 capital/interest
 reserves (0.0222) (0.0159) (0.0222) (0.0159)
 Total cash flow $0.2355 $0.2199 $0.5010 $0.5023
 Distribution per
 BAC paid to:
 General partner -- -- $0.0010 $0.0050
 BAC holders -- -- $0.5000 $0.4973
 Financial Statement Net Income
 Net rental income
 (includes
 depreciation) $782,747 $156,789 $990,238 $319,028
 Other expenses (114,353) (66,504) (174,568) (113,166)
 Net income $668,394 $90,285 $815,670 $205,862
 Net income
 allocated to
 BAC holders $661,643 $89,373 $807,432 $203,783
 Net income
 per BAC $ 0.20 $ 0.03 $ 0.25 $ 0.06
 BACs
 outstanding 3,238,760 3,238,760 3,238,760 3,238,760
 -0- 9/22/93
 /CONTACT: James T. Pastore, 301-231-0323, or Kathleen G. Sloan, 301-231-0384, both of the CRITEF-II/
 (CRB)


CO: Capital Realty Tax Exempt Fund Limited Partnership-Series II ST: Maryland IN: FIN SU: ERN

DT-DC -- DC015 -- 4670 09/22/93 12:07 EDT
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Date:Sep 22, 1993
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