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HENLEY PROPERTIES INC. REPORTS FIRST QUARTER RESULTS

 HENLEY PROPERTIES INC. REPORTS FIRST QUARTER RESULTS
 HAMPTON, N.H., May 15 /PRNewswire/ -- Henley Properties Inc.,


(NASDAQ: HENP) for the first three months of 1992 posted revenues of $14.1 million and a net loss of $13.6 million, or 68 cents per share, compared with revenues of $9.2 million and a net loss of $10 million, or 50 cents per share, in the first quarter of 1991.
 The real estate company's revenue increase for the latest period reflected the sale of undeveloped land in Ontario, Calif., for net proceeds of $6.1 million in cash and a $1.7 million note. The increased net loss is attributable primarily to environmental litigation costs, lower interest income and lower income associated with property sales.
 Henley Properties also entered into an agreement for a revised, three-year loan commitment from Bank of America, effective upon completion of the proposed merger of Henley Properties and the Henley Group, Inc., and expects that it will enter into a similar commitment agreement with the Bank of Boston.
 HENLEY PROPERTIES INC. FINANCIAL HIGHLIGHTS
 (In millions except per share amounts)
 March 31,
 1992 1991
 Revenues $ 14.1 $ 9.2
 Net loss $(13.6) $(10.0)
 Net loss per
 common share ( 68 cents) (50 cents)
 Weighted average
 common shares
 outstanding 20.0 20.0
 -0- 5/15/92
 /CONTACT: Norman Ritter of The Henley Properties, 603-929-2322/ CO: The Henley Properties ST: Massachusetts IN: RLE SU: ERN


TM -- NE004 -- 0816 05/15/92 14:24 EDT
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Date:May 15, 1992
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