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PACESETTER BUSINESS PROPERTIES REPORTS SEPT. 30, 1992 RESULTS

 PACESETTER BUSINESS PROPERTIES REPORTS SEPT. 30, 1992 RESULTS
 NEWPORT BEACH, Calif., Nov. 13 /PRNewswire/ -- Pacesetter Business Properties reported net income of $963,000, or $.62 per share, on revenues of $1,139,000, for the quarter ended Sept. 30, 1992, compared to a net loss of $544,000, or $.35 per share, on revenues of $2,658,000, for the same period in 1991, Steven R. Strauss, president, announced today. Before giving effect to the adjustment, totaling $1,305,000, described below, to reduce certain accrued liabilities, the company incurred a net loss of $342,000, or $.22 per share, for the quarter ended Sept. 30, 1992.
 The company has included in accrued liabilities estimated amounts with respect to the issues raised by the IRS examinations of tax returns filed by the company's former parent, American Pacesetter. An adjustment, totaling $1,305,000, was recorded during the three months ended Sept. 30, 1992, to reduce these accrued liabilities to reflect revised company estimates based upon the current status of settlements and negotiations with the IRS.
 The decrease in the operating net loss for the quarter ended Sept. 30, 1992, when compared to the same period in 1991 is due primarily to a decrease in general and administrative expenses as a result of reductions in staff and other costs in conjunction with the company's continued suspension of development activities.
 The pre-tax losses for Pacesetter Business Properties include depreciation expense of $236,000, and $269,000, for the quarters ended Sept. 30, 1992, and 1991, respectively, on rental operating properties held by the company for investment.
 PACESETTER BUSINESS PROPERTIES
 Financial Summary
 For the Quarters Ended Sept. 30,
 1992 1991
 Total revenues $1,139,000 $2,658,000
 Net income (loss) $963,000 ($544,000)
 Net income (loss) per
 common share $0.62 ($0.35)
 For the Six Months Ended Sept. 30,
 1992 1991
 Total revenues $4,946,000 $5,271,000
 Net income (loss) $114,000 ($1,379,000)
 Net income (loss) per
 common share $0.07 ($0.89)
 -0- 11/13/92
 /CONTACT: Diana L. Waller or Steven R. Strauss, president, of Pacesetter Business Properties, 714-852-1184/ CO: Pacesetter Business Properties ST: California IN: SU: ERN


JB-EH -- LA032 -- 0882 11/13/92 16:48 EST
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Date:Nov 13, 1992
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