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NATIONAL REALTY REPORTS FIRST QUARTER RESULTS

 NATIONAL REALTY REPORTS FIRST QUARTER RESULTS
 DALLAS, May 19 /PRNewswire/ -- National Realty, L.P. (AMEX: NLP)


reported a net loss of $1.7 million, or 70 cents per unit, on revenues of $25.2 million for the first quarter ended March 31, 1992. This compares with a net loss of $3.1 million, or $1.42 per unit, on revenues of $24.1 million for the first quarter of 1991.
 Rental income increased $1.5 million for the three months ended March 31, 1992, as compared with the same period ended March 31, 1991. The increase results primarily from the improved performance of residential properties where National Realty has experienced generally higher occupancy levels and rental rates. Commercial rental income remained relatively stable as occupancy levels increased slightly in the Southwest, Southeast and Mountain regions but decreased in the Pacific and Midwest regions.
 A spokesperson for the partnership stated that higher occupancy and rents at most of the partnership's apartment properties increases the likelihood that the partnership's efforts to refinance a major portion of its portfolio this year will succeed.
 "We hope to take advantage of the unusually low short-term interest rates by refinancing as many as possible of the partnership's apartment complexes this year in a transaction which could also produce proceeds to both pay off short-term debt and continue National Realty's long-term program of capital improvements to its properties," added the spokesperson.
 National Realty, L.P. is a national real estate investment partnership engaged in the acquisition, financing, operation, and sale of real estate and real estate assets. The limited partners' ownership represents 98 percent of the total partnership.
 NATIONAL REALTY, L.P.
 Financial Highlights
 (in thousands, except unit and per unit data)
 Three months ended March 31 1992 1991
 Total revenue $ 25,166 $ 24,080
 (Loss) from operations (2,683) (3,111)
 Litigation settlement gain 1,030 -
 Net (loss) $ (1,653) $ (3,111)
 (Loss) per unit $ (0.70) $ (1.42)
 Weighted average limited partner units
 used in computing earnings per unit 2,299,974 2,150,521
 -0- 5/19/92
 /CONTACT: Kevin LeBlanc of National Realty, 214-692-4800/
 (NLP) CO: National Realty, L.P. ST: Texas IN: SU: ERN


TQ -- NY078 -- 1880 05/19/92 13:41 EDT
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Date:May 19, 1992
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