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RESORT INCOME INVESTORS INC. ANNOUNCES THIRD QUARTER DISTRIBUTION

RESORT INCOME INVESTORS INC. ANNOUNCES THIRD QUARTER DISTRIBUTION
 GOLDEN, Colo., Oct. 5 /PRNewswire/ -- Resort Income Investors Inc. (AMEX: RII) today announced the declaration of its third quarter distribution of $0.375 per share. The distribution is payable on Nov. 16, 1992, to shareholders of record on Oct. 16, 1992. The company presently estimates that earnings for the third quarter will be approximately $0.34 per share, compared to $0.24 per share for the same period last year.
 The company operates as a real estate investment trust (REIT) under the provisions of the Internal Revenue Code. As such, it is required to distribute to shareholders at least 95 percent of its taxable income each year to continue to qualify as a REIT.
 Resort Income Investors Inc. is a lender specializing in resort and gaming developments and has a portfolio of participating pre- development mortgage loans, the majority of which are made to affiliates of Hemmeter Partners. The investment manager of RII is RII Advisors Inc. The investment manager is responsible for reviewing investment options and making investment recommendations to the RII board of directors.
 RII Advisors Inc. is an affiliate of Hemmeter Partners, a company founded and headed by Christopher B. Hemmeter, a recognized leader in the development of luxury destination resorts. Hemmeter Partners is the developer of Bullwhackers Casinos, which recently opened in Central City and Black Hawk, Colo. Previous developments of Hemmeter Partners include the Hyatt Regency Waikiki at Hemmeter Center in Honolulu, the Hyatt Regency Maui, the Westin Kauai at Kauai Lagoons, the Westin Maui and the Hyatt Regency Waikoloa on the Big Island of Hawaii.
 -0- 10/5/92
 /CONTACT: Greg Hooper of Resort Income Investors, 303-271-2558; or Gary Maier of Erickson Consulting Group, 310-829-4601, for Resort Income Investors/
 (RII) CO: Resort Income Investors Inc. ST: California IN: SU: DIV


KJ-LS -- LA009 -- 6412 10/05/92 08:32 EDT
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Publication:PR Newswire
Date:Oct 5, 1992
Words:313
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