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PSH MASTER L.P. I ANNOUNCES FIRST QUARTER, 1992 RESULTS

 PSH MASTER L.P. I
 ANNOUNCES FIRST QUARTER, 1992 RESULTS
 DUBLIN, Ohio, May 15 /PRNewswire/ -- PSH Master L.P. I (NASDAQ: PSHPZ) today announced the results of its first quarter ended March 31, 1992. The cash loss (net loss before depreciation and amortization expense) was $55,483, or $.02 per unit, compared to a cash loss of $102,910, or $.03 per unit, 1991. The partnership recorded a 1.4 percent increase in revenues in the current quarter compared to the first quarter of 1991, reflecting increased occupancy at each hotel, offset by lower average daily rates. Continued improvement in cost containment also contributed to an improvement in the financial results.
 Combined occupancy during the first quarter of 1992 was 74.8 percent, up from 71.9 percent in 1991. Operating revenues of the partnership were $5,078,974 in the first quarter of 1992, resulting in a net loss of $833,588. Comparative results for the first quarter of 1991 were revenues of $5,010,073 and a net loss of $974,901.
 The partnership also announced that the bankruptcy plan of its managing general partner, PC Development Limited Partnership, was confirmed on April 3, 1992. Agreements with the first mortgage lender to restructure the partnership's debt and with the hotel manager to make loans to the partnership to fund capital improvements and operating deficits, if necessary, are expected to close during the second quarter.
 -0- 5/15/92
 /CONTACT: Stephen C. Denz of PSH Master L.P. I, 614-889-6500/
 (PSHPZ) CO: PSH Master L.P. I ST: Ohio IN: LEI SU: ERN


BM -- CL006 -- 0878 05/15/92 15:34 EDT
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Publication:PR Newswire
Date:May 15, 1992
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