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ROYALE INVESTMENTS REPORTS RESULTS FOR THIRD QUARTER AND NINE MONTHS

 MINNEAPOLIS, Oct. 18 /PRNewswire/ -- Royale Investments, Inc., (NASDAQ: RLIN) today reported net income of $68,723 for the third quarter ended Sept. 30, up 77 percent from $38,886 in the same period last year. Earnings per share were 7 cents, compared with 6 cents on a smaller average number of shares outstanding in the third quarter last year.
 Third-quarter revenues increased 14 percent to $293,209 from $257,372 a year earlier. In addition to rental income from two Cub Foods Stores owned by Royale, this year's results included $43,345 in interest income, primarily on proceeds from a recent public offering of common stock. The proceeds have been invested in short-term U.S. government obligations while the company is negotiating the purchase of additional supermarket properties.
 Net income for the nine months ended Sept. 30 was $90,966 or 10 cents per share, compared with $118,825 or 17 cents per share a year earlier. Revenues for the nine months were $797,426, up from $381,239 last year. This year's results included depreciation of $180,891 versus $64,178 in the first nine months last year.
 Royale Investments is a Minneapolis-based real estate investment trust organized to acquire food-related income-producing properties, primarily supermarkets.
 ROYALE INVESTMENTS, INC.
 3 months ended 9 months ended
 9/30/93 9/30/92 9/20/93 9/30/92
Revenues $293,209 $257,372 $797,426 $381,239
Net income $68,723 $38,886 $90,966 $118,825
Net income per share $.07 $.06 $.10 $.17


Weighted average shares
 outstanding 946,667 710,000 946,667 710,000
 -0- 10/18/93
 /CONTACT: Vernon R. Beck of Royale Investments, 612-920-4078; or Tom Langenfeld of Swenson Falker Associates, 612-371-0000, for Royale/
 (RLIN)


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

CP-DS -- MN014 -- 3372 10/18/93 11:56 EDT
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Publication:PR Newswire
Date:Oct 18, 1993
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