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HALLWOOD REALTY PARTNERS, L.P. ANNOUNCES THIRD QUARTER 1993 FINANCIAL INFORMATION

 DALLAS, Nov. 5 /PRNewswire/ -- Hallwood Realty Partners, L.P. (AMEX: HRY) announced today its financial results for the quarter ended Sept. 30, 1993. The partnership's net loss was $4,836,000 ($.55 per unit) and $4,837,000 ($.55 per unit) for the third quarter of 1993 and 1992, respectively. For the nine months ended Sept. 30, 1993 and 1992, the partnership's net loss was $11,990,000 ($1.37 per unit) and $18,062,000 ($2.06 per unit), respectively.
 The number of properties in the partnership's real estate portfolio has decreased significantly since the beginning of 1992 due to the disposal of Gwinnett Station, the remainder of Greentree Executive Campus, Norcross 85, 2 North La Salle, American National Bank and East- West Towers (such disposed properties being hereinafter referred to as the disposed properties). Generally, these properties were disposed because they were not cash flow positive and were a financial burden on the partnership.
 Evidence of this is illustrated by the improvement in cash flow provided from operations before changes in working capital, which was $1,484,000 for the first nine months of 1993, as compared to $710,000 for the same period in 1992.
 Financial results, however, continue to be affected negatively by increasing litigation costs, which represent costs associated with lawsuits filed by certain unitholders. The costs incurred by the partnership with respect to such lawsuits are substantial and are not likely to be reduced in the near future (cumulatively such costs equaled approximately $9,012,000 as of Sept. 30, 1993).
 Cash flow provided by operations, before changes in working capital, would have been $6,416,000 and $2,361,000 for the nine months ended Sept. 30, 1993 and 1992, respectively, if the litigation costs were eliminated from these results.
 Revenues from property operations for the third quarter of 1993 decreased $2,918,000, or 19.6 percent, as compared to the comparable period of 1992, due to the disposition of the disposed properties.
 Expenses decreased $2,951,000, or 14.9 percent, in the third quarter of 1993, as compared to the same quarter in 1992, primarily as the result of decreases in property operating expense of $1,666,000, interest expense of $1,779,000, and depreciation and amortization expense of $1,260,000. These expenses decreased primarily due to the disposition of the disposed properties. These expense reductions were partially offset by a $1,765,000 increase in litigation costs.
 The following table sets forth comparative selective unaudited financial information for the Partnership for the three and nine months ended Sept. 30, 1993 and 1992:
 HALLWOOD REALTY PARTNERS, L.P.
 Statements of Operations
 (in thousands, except per unit amounts)
 Periods ended Three Months Nine Months
 Sept. 30, 1993 1992 1993 1992
 Total revenues $ 12,051 $ 15,001 $ 35,753 $ 49,929
 Total expenses $ 16,887 $ 19,838 $ 47,743 $ 69,189
 Loss before
 extraordinary item (4,836) (4,837) (11,990) (19,260)
 Net loss (4,836) (4,837) (11,990) (18,062)
 Per unit information:
 Loss before
 extraordinary item (.55) (.55) (1.37) (2.20)
 Net loss (.55) (.55) (1.37) (2.06)
 Average units
 outstanding 8,662 8,662 8,662 8,662
 The partnership, a publicly traded Delaware limited partnership, is engaged in diversified real estate activities, including the acquisition, ownership, operation and management of commercial office buildings and industrial real estate and other real estate related assets.
 -0- 11/5/93
 /CONTACT: Diane Coffman of Hallwood Realty Partners, L.P., 1-800-899-6589/
 (HRY)


CO: Hallwood Realty Partners, L.P. ST: Texas, Delaware IN: SU: ERN

LD -- NY074 -- 1421 11/05/93 18:00 EST
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Date:Nov 5, 1993
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