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MORTGAGE AND REALTY TRUST REPORTS FOURTH QUARTER/FISCAL YEAR RESULTS

 ELKINS PARK, Pa., Jan. 14 /PRNewswire/ -- Mortgage and Realty Trust (NYSE: MRT) announced today that on Jan. 13, 1994, it filed its Form 10-K (in accordance with its Form 12b-25 filing), covering its fiscal year ended Sept. 30, 1993. As reported in Form 10-K, the financial results for the 1993 fiscal year were as follows:
 Quarter
 Periods ended (Unaudited) Fiscal Year
 Sept. 30 1993 1992 1993 1992
 Loss before provision
 for losses & reorganization
 expenses $(3,726,000) $(2,303,000) $(11,125,000) $(4,538,000)
 Less: Provision
 for losses on real
 estate loans and
 investments 15,000,000 10,000,000 37,000,000 32,000,000
 Reorganization
 expenses 4,601,000 334,000 5,844,000 934,000
 Net loss (23,327,000) (12,637,000) (53,969,000) (37,472,000)
 Net loss
 per share $(2.10) $(1.14) $(4.87) $(3.38)
 The Trust's regular quarterly analysis of the portfolio resulted in a provision for losses of $15.0 million in the September 1993 quarter. For the fiscal year ended September 30, 1993, the total provision for losses was $37.0 million. The allowance for losses at September 30, 1993 was $11.8 million after fourth quarter charge-offs of $22.0 million. Deterioration in real estate values caused by generally lower rental rates, oversupply of space and the lack of liquidity in the real estate industry persists. These factors continued to have a significant negative effect on valuations of income-producing real estate.
 A copy of the Trust's report on Form 10-K will be supplied upon written request to Mortgage and Realty Trust, 8380 Old York Road, Suite 300, Elkins Park, PA 19117.
 MRT is a self-administered real estate investment trust with offices in Elkins Park and Burbank, California.
 /delval/
 -0- 1/14/94
 /CONTACT: Daniel F. Hennessey, treasurer of Mortgage and Realty Trust, 215-881-1525/
 (MRT)


CO: Mortgage and Realty Trust ST: Pennsylvania, California IN: FIN SU: ERN

JO-MJ -- PH027 -- 2177 01/14/94 16:56 EST
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Date:Jan 14, 1994
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