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ROYALE INVESTMENTS REPORTS SECOND QUARTER RESULTS

 ROYALE INVESTMENTS REPORTS SECOND QUARTER RESULTS
 MINNEAPOLIS, July 15 /PRNewswire/ -- Royale Investments, Inc.,


(NASDAQ: RLIN) today reported net income of $38,767, equal to 5.5 cents per share, for the second quarter ended June 30, compared with a loss in the same period last year.
 Royale, a Minneapolis-based real estate investment trust, completed its first property acquisition late in the quarter with the purchase of two new Cub Foods Stores.
 While negotiating the purchase, Royale invested the net proceeds from its initial public offering in short-term U.S. government obligations. Third quarter revenues of $69,096 consisted of interest income from the invested proceeds and rental income from the Cub Foods Stores between the closing of the purchase on June 25 and the end of the month. The company had no revenue in the year-earlier period.
 Net income for the six months ended June 30 was $89,099, equal to 12.5 cents per share, compared with a loss of $197,277 a year earlier. Last year's loss reflected expenses associated with an abandoned prior stock offering. Revenues for the first half were $123,867; the company had no revenues in the first half of 1991.
 Royale Investments was organized to acquire income-producing commercial real estate properties, primarily discount food superstores. It completed its initial public offering last December.
 -0- 7/15/92
 /CONTACT: Tom Langenfeld of Swenson Falker Eilertsen, 612-371-0000; or Vernon Beck of Royale Investments, 612-920-4048/
 (RLIN) CO: Royale Investments, Inc. ST: Minnesota IN: FIN SU: ERN


KH -- MN017 -- 9564 07/15/92 12:53 EDT
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Publication:PR Newswire
Date:Jul 15, 1992
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