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INCOME OPPORTUNITY REALTY TRUST REPORTS YEAR-END RESULTS

 INCOME OPPORTUNITY REALTY TRUST REPORTS YEAR-END RESULTS
 DALLAS, March 20 /PRNewswire/ -- Income Opportunity Realty Trust


(AMEX: IOT) today announced operating results for the year ended Dec. 31, 1991. The trust recorded a net loss of $4.3 million, or $4.72 per share, on revenues of $5.6 million for 1991, compared with a net loss of $9.1 million, or $9.79 per share, on revenues of $8.5 million for 1990.
 The trust recorded a $6.7 million provision for losses in 1991, compared with a provision of $7.3 million in 1990. Of the 1991 provision, $2.1 million was from the insubstance foreclosure of the Saratoga Office Building. In addition, during the second quarter of 1991 the trust returned the Corona Hills Industrial Center to the senior lienholder in lieu of foreclosure. This resulted in an extraordinary gain of $4.8 million and accounted for $3.8 million of 1991's provision for loss. The trust did not record an extraordinary gain in 1990.
 Net rental income (rental income less property operations expense) of $1.8 million for 1991 remained fairly stable compared with $1.9 million in 1990. General and administrative fees continued their downward trend in 1991 as a result of cost controls and a reduction in professional fees.
 Income Opportunity Realty Trust is a real estate investment trust which primarily invests in mortgage loans, real estate and real estate- related entities.
 INCOME OPPORTUNITY REALTY TRUST
 Financial Highlights
 (In thousands, except share and per-share data)
 Years ended Dec. 31 1991 1990
 Income $5,592 $8,463
 (Loss) before extraordinary gain (9,053) (9,089)
 Extraordinary gain 4,765 --
 Net (loss) (4,288) (9,089)
 Earnings per share:
 (Loss) before extraordinary gain $(9.97) $(9.79)
 Extraordinary gain 5.25 --
 Net (loss) (4.72) (9.79)
 Weighted average shares of
 beneficial interest used in
 computing earnings per share 907,665 928,606
 -0- 3/20/92
 /CONTACT: Jean Krone Bono of Income Opportunity Realty Trust, 214-692-4800/
 (IOT) CO: Income Opportunity Realty Trust ST: Texas IN: FIN SU: ERN


CK -- NY049 -- 0122 03/20/92 12:59 EST
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Publication:PR Newswire
Date:Mar 20, 1992
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