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ICM PROPERTY INVESTORS INCORPORATED ANNOUNCES RESULTS FOR 1991

 ICM PROPERTY INVESTORS INCORPORATED ANNOUNCES RESULTS FOR 1991
 NEW YORK, Feb. 18 /PRNewswire/ -- ICM Property Investors Incorporated (NYSE: ICM), a real estate investment trust, announced today a net loss for financial reporting purposes in 1991 of $5,454,000 ($0.91 per share). Reflected in this figure is a $2,113,000 write-down of the carrying amount of the IBM Building in Jackson, Miss. This investment has been written down as a result of the company's decision to offer this property for sale. For 1990, the company reported a net loss of $12,278,000, or $2.23 per share, which includes previously reported write-offs and a provision for possible loss in the aggregate amount of $8,146,000.
 For the fourth quarter of 1991, ICM Property Investors reported a net loss of $3,391,000 ($0.56 per share), $2,113,000 of which represents the write-down of the IBM Building. This compares with a net loss in the fourth quarter of 1990 of $5,094,000, or $0.92 per share, $4,100,000 of which comprised the provision for possible loss.
 ICM Property Investors' investment are located in six states from coast to coast.
 ICM PROPERTY INVESTORS
 Year ended Dec. 31 1991 1990
 Net loss $(5,454,000) $(12,278,000)
 Net loss per share $(0.91) $(2.23)
 Fourth Quarter Ended Dec. 31 1991 1990
 Net loss $(3,391,000) $(5,094,000)
 Net loss per share $(0.56) $(0.92)
 -0- 2/18/92
 /CONTACT: Howard Shapiro of ICM Property Investors, 510-283-8910/
 (ICM) CO: ICM Property Investors Incorporated ST: New York IN: FIN SU: ERN


SM-KW -- NY088 -- 0030 02/18/92 14:36 EST
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Publication:PR Newswire
Date:Feb 18, 1992
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