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JHM MORTGAGE SECURITIES REPORTS FOURTH QUARTER EARNINGS

 JHM MORTGAGE SECURITIES REPORTS FOURTH QUARTER EARNINGS
 MCLEAN, Va., March 19 /PRNewswire/ -- JHM Mortgage Securities L.P.


(NYSE: JHM) today announced that its net income for the quarter ended Dec. 31, 1991, was $1,736,000, or 32 cents per unit, compared to $1,417,000, or 29 cents per unit, for the quarter ended Dec. 31, 1990. Net income for the year ended Dec. 31, 1991, was $6,773,000, or $1.32 per unit, compared to $4,295,000 or $.86 per unit for the year ended Dec. 31, 1990.
 The partnership also announced that taxable income to unitholders for the quarter ended Dec. 31, 1991, was $2,064,000, or 36 cents per unit, compared to $1,761,000, or 35 cents per unit, for the quarter ended Dec. 31, 1990. Taxable income to unitholders for the year ended Dec. 31, 1991, was $7,528,000 or $1.45 per unit, compared to $6,517,000 or $1.30 per unit for the year ended Dec. 31, 1990.
 JHM Mortgage Securities L.P. is a publicly traded partnership whose objective is to provide high quarterly income through the management of mortgage-related assets. The partnership is managed by JHM Mortgage Capital Corporation and is affiliated with The JHM Group of McLean, Va.
 JHM MORTGAGE SECURITIES L.P.
 Periods Ended Three Months Year
 Dec. 31 1991 1990 1991 1990
 Net income $1,736,000 $1,417,000 $6,773,000 $4,295,000(A)
 Net inc. per unit $.32 $.29 $1.32 $.86(A)
 Taxable income to
 preferred unitholders 2,064,000 1,761,000 7,528,000 6,517,000
 Taxable income to
 preferred unitholders
 per unit $.36 $.35 $1.45 $1.30
 Distribution declared
 per unit(B) $.34 $.30 $1.33 $1.20
 (A) -- Includes a one-time charge against income of $926,000 or 19 cents per unit taken as a result of a change in accounting principle.
 (B) -- Represents cash distributions based on taxable net income to unitholders for the periods indicated.
 -0- 3/19/92
 /CONTACT: Stephen P. Gavula or C. Thomas Williamson, III of JHM Mortgage Securities, 703-883-2900/
 (JHM) CO: JHM Mortgage Securities L.P. ST: Virginia IN: FIN SU: ERN


PS -- NY010 -- 9499 03/19/92 08:02 EST
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Publication:PR Newswire
Date:Mar 19, 1992
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