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HEALTH AND REHABILITATION PROPERTIES TRUST ANNOUNCES SECOND QUARTER CASH FLOW OF 34 CENTS PER SHARE

 NEWTON, Mass., July 26 /PRNewswire/ -- Health and Rehabilitation Properties Trust (NYSE: HRP) today announced cash flow of 34 cents per share for the quarter ended June 30, 1993, compared to cash flow of 34 cents per share for the quarter ended June 30, 1992.
 Gross revenues for the quarter ended June 30, 1993 were $13,763,000 vs. $11,858,000 for the quarter ended June 30, 1992. Net income for the 1993 quarter was $9,536,000, 27 cents per share, vs. $6,562,000, 25 cents per share, for the 1992 quarter. Cash flow available from operations for the 1993 was $11,895,000, 34 cents per share, vs. $9,002,000, 34 cents per share, for the 1992 quarter. Average outstanding common shares of beneficial interest for the 1993 and 1992 quarters were 35,114,000 and 26,756,000, respectively.
 Gross revenues for the six month period ended June 30, 1993 were $26,413,000 vs. $23,397,000 for the six month period ended June 30, 1992. Net income before extraordinary item for the 1993 period was $17,945,000, 54 cents per share, and net income was $14,553,000, 44 cents per share. The 1993 six month period includes an extraordinary item of $3,392,000 related to the loss on early extinguishment of debt in January, 1993. Net income before extraordinary item and net income for the six months ended June 30, 1992 were $13,057,000, 49 cents per share. Average outstanding common shares of beneficial interest for the 1993 and 1992 six month periods were 33,432,000 and 26,756,000 respectively.
 A dividend of 32 cents per share was declared in connection with the results of the quarter ended June 30, 1993. The dividend had a record date of July 20, 1993 and will be paid on or about Aug. 26, 1993.
 David J. Hegarty, treasurer and CFO of HRP made the following comments regarding the quarterly results:
 "This quarter reflects the full impact of our successful equity offering completed in January 1993. It does not however, reflect the full impact of the acquisition of the portfolio of performing loans from the Resolution Trust Corporation which closed on May 20, 1993. The RTC acquisition is expected to leave a positive impact upon both earnings and cash flow. The company's focus is on continued growth and diversification."
 HRP is a real estate investment trust which invests in healthcare facilities which are leased to healthcare operations and provides mortgage loans secured by healthcare related real estate. HRP has approximately $447 million invested in 85 properties with 41 borrowers and tenants located in 22 states.
 HEALTH AND REHABILITATION PROPERTIES TRUST
 Summarized Statement of Income and Cash Available from Operations
 (amounts in thousands, except per share data)
 (unaudited)
 Quarter Ended Six Months Ended
 June 30, June 30,
 1993 1992 1993 1992
 Revenues $13,763 $11,858 $26,413 $23,397
 Expenses 4,227 5,296 8,468 10,340
 Income before extraordinary
 item 9,536 6,562 17,945 13,057
 Extraordinary item-early
 extinguishment of debt --- --- 3,392 ---
 Net income $9,536 $6,562 $14,553 $13,057
 Cash flow available from
 operations $11,895 $9,002 $22,638 $17,741
 Average shares outstanding 35,114 26,756 33,432 26,756
 Per share amounts:
 Income before extraordinary
 item 27 cents 25 cents 54 cents 49 cents
 Net income 27 cents 25 cents 44 cents 49 cents
 Cash flow available from
 operations 34 cents 34 cents 68 cents 66 cents
 -0- 7/26/93
 /CONTACT: Mark J. Finkelstein, president, or David J. Hegarty, treasurer, both of HRPT, 617-332-3990/
 (HRP)


CO: Health and Rehabilitation Properties Trust ST: Massachusetts IN: HEA SU: ERN
 -0- 7/26/93
 /CONTACT: Mark J. Finkelstein, president or David J. Hegarty, treasurer, both of Health and Rehabilitation Properties Trust, 617-332- 3990/
 (HRP)


CO: Health & Rehabilitation Properties Trust ST: Newton IN: HEA SU: ERN

CM-DJ -- NE013 -- 5840 07/26/93 15:56 EDT
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Date:Jul 26, 1993
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