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ROYALE INVESTMENTS, INC. REPORTS PROFITABLE YEAR

 MINNEAPOLIS, Feb. 16 /PRNewswire/ -- Royale Investments, Inc., (NASDAQ: RLIN) today reported net income of $133,969 or 19 cents per share for the year ended Dec. 31, 1992, compared with a loss of $187,476 in 1991.
 Revenues for the year were $636,930, primarily rental income from two Cub Foods Stores purchased by Royale in June. The stores are the first properties acquired by Royale, a Minneapolis-based real estate investment trust that completed its initial public offering in December 1991. The company had no revenues in 1991.
 Net income for the fourth quarter ended Dec. 31, 1992, was $15,144 or 2 cents per share, compared with a small loss a year earlier. Fourth-quarter revenues were $255,691, compared with none in 1991.
 Royale Investments was organized to acquire food-related income- producing properties, primarily discount food superstores.
 ROYALE INVESTMENTS, INC.
 3 months ended 12 months ended(A)
 Dec. 31, Dec. 31,
 1992 1991 1992 1991
 Revenues 255,691 --- 636,930 ---
 Net income (loss) $ 15,144 (142) $133,969 $(187,476)
 Net income per share $ .02 $ --- $ .19 $ ---
 Common shares
 outstanding 710,000 --- 710,000 ---
 (A) Net income for the nine months ended Sept. 30, 1992, has been
 restated to reflect adjustments to increase the provision for
 depreciation due to yearend adjustments in capitalized building
 costs, and to increase accrued liabilities for director fees, which
 are paid annually. The total effect of these adjustments is a
 reduction in net income for the nine months ended Sept. 30 of
 $19,545 and a corresponding reduction in net income for the quarter
 ended Sept. 30 of $10,385.
 -0- 2/16/93
 /CONTACT: Tom Langenfeld of Swenson Falker Eilertsen Inc., 612-371-0000, or Vernon R. Beck of Royale Investments, Inc., 612-920-4078./
 (RLIN)


CO: Royale Investments, Inc. ST: Minnesota IN: SU: ERN

MP -- MN019 -- 6892 02/16/93 15:20 EST
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Publication:PR Newswire
Date:Feb 16, 1993
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