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ROCKEFELLER CENTER PROPERTIES, INC. ANNOUNCES RESULTS OF OPERATIONS FOR THE YEAR END AND FOURTH QUARTER, 1992

 NEW YORK, Jan. 19 /PRNewswire/ -- Rockefeller Center Properties, Inc. (NYSE: RCP) announced today net income for the year 1992 of $39,148,000, or $1.04 per primary share, on revenues of $122,414,000. The results for 1992 include an extraordinary gain of $2,537,000, or $.07 per share, resulting from the repurchase of convertible debentures at a discount under carrying value during the first quarter of 1992. The company also reported fourth quarter net income of $8,181,000, or $.21 per primary share, on revenues of $30,630,000. Primary share earnings are based on 37,510,000 shares of common stock outstanding. The 1992 year end and fourth quarter results of operations are unaudited at this time.
 For 1991, the company reported net income of $38,327,000, or $1.02 per primary share, on revenues of $123,182,000, and fourth quarter net income of $9,534,000, or $.25 per primary share, on revenues of $30,962,000.
 RCPI noted that the revenue decline in 1992 was due primarily to lower income earned on portfolio securities. Portfolio income for this period declined by $1,300,000 from the prior year as a result of investment redemptions and maturities. RCPI further reported that interest income earned on its mortgage loan receivable increased by $560,000, versus comparable 1991 results, due to a scheduled increase in the annualized interest rate on the mortgage loan. Mortgage interest income accounts for approximately 88 percent of RCPI's revenues. In addition to lower revenues reported in 1992, RCPI also noted that expenses for 1992 increased by $910,000, reflecting costs associated with reviews of its debt structure and costs incurred in connection with a proposed settlement of a class action lawsuit.
 During 1992, RCPI paid dividends of $1.69 per share, of which 38.24 percent, or approximately $.65 per share, represented a return of capital to the stockholders. In December 1992, the board of directors reduced the quarterly dividend to $.25 per share.
 RCPI also announced that net cash provided by operating activities was $62,700,000 for 1992, as compared to $57,900,000 for 1991. The increase in cash flow is primarily due to decreased interest paid on short term debt and on current coupon convertible debentures.
 ROCKEFELLER CENTER PROPERTIES, INC.
 Year ended Dec. 31 1992 1991
 Revenues $122,414,000 $123,182,000
 Income before extraordinary gain 36,611,000 38,289,000
 Extraordinary gain 2,537,000 38,000
 Net income 39,148,000 38,327,000
 Net income per share before
 extraordinary gain .97 1.02
 Extraordinary gain per share .07 --
 Net income per share 1.04 1.02
 Quarter ended Dec. 31
 Revenues 30,630,000 30,962,000
 Net income 8,181,000 9,534,000
 Net income per primary share .21 .25
 The company's common stock is listed on the New York Stock Exchange under the symbol RCP.
 -0- 1/19/93
 /CONTACT: Stephanie Leggett Young of Rockefeller Center Properties, Inc., 212-841-7760/
 (RCP)


CO: Rockefeller Center Properties, Inc. ST: New York IN: FIN SU: ERN

AH-OS -- NY025 -- 6221 01/19/93 10:22 EST
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Date:Jan 19, 1993
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