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SECOND QUARTER EARNINGS REPORTED BY VANGUARD REAL ESTATE FUND I

 SECOND QUARTER EARNINGS REPORTED BY VANGUARD REAL ESTATE FUND I
 VALLEY FORGE, Pa., July 29 /PRNewswire/ -- Vanguard Real Estate Fund I (AMEX: VRO) today reported net income per share of $0.12 (twelve cents) per share for the quarter ended June 30, 1992, and $0.23 (twenty- three cents) per share for the first half of 1992.
 These figures compare to $0.09 (nine cents) and $0.34 (thirty-four cents), respectively, for the corresponding periods in 1991, when first half results were improved by a net gain on the sale of property investments equal to $0.08 (eight cents) per share.
 The Fund had previously reported the June 19, 1992, declaration of a $0.15 (fifteen cents) dividend, payable on July 31, 1992, to shareholders of record on June 30.
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 The communication shall not constitute an offer to sell or the solicitation of an offer to buy shares of Vanguard Real Estate Fund I.
 -0- 7/29/92
 /CONTACT: Jeffrey S. Molitor of The Vanguard Group, 215-669-6303/
 (VRO) CO: Vanguard Real Estate Fund I ST: Pennsylvania IN: FIN SU: ERN


CC -- PH043 -- 4814 07/29/92 17:30 EDT
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Publication:PR Newswire
Date:Jul 29, 1992
Words:189
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