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ROYAL PALM BEACH COLONY, LIMITED PARTNERSHIP ANNOUNCES RESULTS

 HOLLYWOOD, Fla., Dec. 30 /PRNewswire/ -- Royal Palm Beach Colony, Limited Partnership (AMEX: RPB) announced today the results of its operations for the fiscal year ended Sept. 30, 1993.
 For the current fiscal year ended Sept. 30, 1993, revenues were $1,717,000 and net income was $773,000, or $0.17 per Partnership Unit. The Partnership estimates that it will report a taxable loss of approximately $100,000, or approximately $0.02 per Unit, for calendar year 1993.
 For the prior fiscal year ended Sept. 30, 1992, revenues were $1,510,000 and net income was $398,000, or $0.09 per Partnership Unit. The Partnership reported a taxable loss of $299,000, or approximately $0.07 per Unit for 1992.
 For the fourth quarter ended Sept. 30, 1993, Partnership revenues were $233,000 and a net loss of $45,000, or $0.01 was reported.
 In last year's fourth quarter, revenues were $519,000 and net income was $223,000, or $0.05 per Unit.
 Martin J. Katz, president of the Managing General Partner, stated that in light of management's decision to develop portions of the Partnership's property in order to enhance its salability, it is not possible to predict the precise extent or timing of future distributions.
 ROYAL PALM BEACH COLONY, LIMITED PARTNERSHIP
 FINANCIAL HIGHLIGHTS
 (000) Omitted
 Three Months Ended Fiscal Year Ended
 9/30/93 9/30/92 9/30/93 9/30/92
 Revenues $233 $519 $1,717 $1,510
 Costs and expenses 278 296 944 1,112
 Net income $(45) $223 $ 773 $ 398
 Earnings (loss) per
 Partnership Unit $(.01) $.05 $ .17 $ .09
 Weighted average
 units outstanding 4,485 4,485 4,485 4,485
 -0- 12/30/93
 /CONTACT: Martin J. Katz, president, managing general partner of Royal Palm Beach Colony, Limited Partnership, 305-927-3080/
 (RPB)


CO: Royal Palm Beach Colony, Limited Partnership ST: Florida IN: FIN SU: ERN

RK-JB -- FL006 -- 8103 12/30/93 14:51 EST
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Publication:PR Newswire
Date:Dec 30, 1993
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