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SIZELER PROPERTY INVESTORS, INC. REPORTS 27 PERCENT INCREASE IN FUNDS FROM OPERATIONS FOR 1992

 KENNER, La., Jan. 25 /PRNewswire/ -- Sizeler Property Investors, Inc. (NYSE: SIZ), an equity real estate investment trust (REIT) which invests in income-producing shopping center and apartment properties, announced today that funds from operations and total operating revenues increased for the three months and for the year ended Dec. 31, 1992.
 Funds from operations is defined as net income, excluding gains (or losses) from sales of property and other non-operating extraordinary items, plus depreciation, and after adjustments for unconsolidated partnerships to reflect funds from operations on the same basis. Funds from operations is considered to be a primary measure of REIT financial performance. For the year ended Dec. 31, 1992, funds from operations were $5.32 million, up 27 percent over the $4.17 million earned a year ago.
 Operating revenues totaled $14.8 million for 1992, an increase of 33 percent over the $11.1 million earned a year ago. Income from rental operations, before depreciation expense, increased 34 percent to $9.9 million from $7.4 million in 1991.
 For the three months ended Dec. 31, 1992, funds from operations increased 33 percent to $1.45 million, operating revenues increased 43 percent to $4.30 million, and income from rental operations increased 47 percent to $2.80 million -- all compared to the same period in 1991. The $1.45 million in funds from operations for the fourth quarter of 1992 also continued a favorable trend in operating performance compared to the previous three quarters of 1992.
 Funds from operations per share for the full year and the three- month period ended Dec. 31, 1992, compared to the same periods in 1991, were $1.12 vs. $1.22 and $.31 vs. $.27, respectively. Per share amounts reflect the effect of a 1.5 million-share increase in the total number of shares outstanding, as a result of the company's fourth quarter 1991 public offering.
 Proceeds from this offering were initially invested in short-term, interest-bearing securities until fully invested in additional income- producing properties during the second quarter of 1992.
 "The company's improved financial performance in 1992 is the direct result of management's strategy to aggressively pursue the acquisition of new investment properties at very attractive yields," said Sidney W. Lassen, CEO of Sizeler. "During 1992, we have successfully added over $40 million in new income-producing properties to our portfolio. These properties included a major power shopping center in West Palm Beach, Florida; a community shopping center in San Antonio, Texas; and five additional apartment complexes, totaling 942 units, located in Alabama and Louisiana. We have also entered into an agreement to acquire an additional 975 apartment units for our portfolio by mid-1993, subject to usual terms and normal due diligence procedures. It is the company's plan to continue its acquisition plan in 1993, consistent with expected favorable prices for property purchases."
 At Dec. 31, 1992, the company's real estate properties consisted of two enclosed shopping malls, one "power" shopping center (a large community shopping center, anchored by market-dominant retail merchants), 10 community shopping centers, and seven apartment complexes containing 1,138 units. The properties are located in Louisiana (14), Florida (three), Alabama (two) and Texas (one). Leasable area of the retail properties totals approximately 1.9 million square feet. At Dec. 31, 1992, the average aggregate occupancy rate at the company's retail properties was approximately 93 percent. The apartment complexes were 98 percent leased.
 Sizeler Property Investors, Inc.'s common stock (SIZ) is traded on the New York Stock Exchange. At Dec. 31, 1992, the company had total assets exceeding $130 million.
 SIZELER PROPERTY INVESTORS, INC.
 Financial Summary
 Qtr. ended 12 mos. ended
 12/31/92 12/31/91 12/31/92 12/31/91
 Operating revenue $4,296,000 $2,953,000 $14,861,000 $11,069,000
 Operating expenses 1,492,000 1,046,000 4,907,000 3,661,000
 Income from rental
 operations 2,803,000 1,907,000 9,954,000 7,408,000
 Other income
 (expenses) (1,391,000) (817,000) (4,679,000) (3,234,000)
 Net income $ 756,000 $ 390,000 $ 2,095,000 $ 1,794,000
 Net inc. per share $.16 $.10 $.44 $.52
 Funds from opers. $1,448,000 $1,090,000 $ 5,320,000 $ 4,174,000
 Funds from opers.
 per share $.31 $.27 $1.12 $1.22
 Wtd. average shares
 outstanding 4,738,000 4,031,000 4,736,000 3,429,000
 -0- 1/25/93
 /CONTACT: John J. Gilluly Jr., vice president/treasurer of Sizeler Property Investors, 504-466-5363 or, home, 504-833-4773/
 (SIZ)


CO: Sizeler Property Investors, Inc. ST: Louisiana IN: SU: ERN DIV

BN-RA -- AT012 -- 8404 01/25/93 10:59 EST
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Date:Jan 25, 1993
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