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THE CHICAGO DOCK AND CANAL TRUST ANNOUNCES SECOND QUARTER EARNINGS FOR FISCAL YEAR 1993

 CHICAGO, Dec. 16 /PRNewswire/ -- The Chicago Dock and Canal Trust, (NASDAQ: DOCKS) a publicly held real estate investment trust, today reported a net loss for its second quarter ended Oct. 31, 1992, of $604,000 or $.10 per share. This compares to a loss of $.17 per share reported in the prior quarter. The trust reported net income of $1,090,000 or $.19 per share for the same period in the prior fiscal year.
 For the six months ended Oct. 31, 1992, operations resulted in a net loss of $1,585,000 or $.27 per share. The trust reported net income for the same period in the prior fiscal year of $2,398,000 or $.42 per share.
 During the second quarter, the trust declared a dividend of $.08 per share. This dividend compares to $.08 per share for the same period in the prior fiscal year.
 The Chicago Dock and Canal Trust is a real estate investment trust engaged primarily in the business of acquiring and holding real estate and interests in real estate for investment. The trust, formed in 1962, is successor to The Chicago Dock and Canal Company, founded in 1857 by Chicago's first mayor, William Ogden. The trust owns or controls assets which include a 424-unit apartment complex, a one-third interest in a 480-unit apartment building and approximately 20 acres of land all in Cityfront Center, a mixed-use project currently under development in Chicago. The Trust also owns Lincoln Garden (a 73,000-square-foot office complex in Tampa, Fla.), Waterplace Park (a 107,000-square-foot office complex in Indianapolis, Ind.), and One Michigan Avenue (a 144,000-square-foot office building in Lansing, Mich.).
 THE CHICAGO DOCK AND CANAL TRUST
 SECOND QUARTER FISCAL 1993 EARNINGS
 Second quarter ended Oct. 31 1992 1991
 Net income (loss) $(604,000) $1,090,000
 Net income (loss) per share $(.10) $.19
 Six months ended Oct. 31 1992 1991
 Net income (loss) $(1,585,000) $2,398,000
 Net income (loss) per share $(.27) $.42
 As of Oct. 31 1992 1991
 Shareholders' Equity $85,263,000 $45,887,000
 -0- 12/16/92
 /CONTACT: David R. Tinkham, 312-467-1870, of The Chicago Dock and Canal Trust; or Amy Collins, 312-263-2135, of Marcy Monyek and Associates, for The Chicago Dock and Canal Trust/


CO: Chicago Dock and Canal Trust ST: Illinois IN: FIN SU: ERN

LR -- NY053 -- 7694 12/16/92 12:04 EST
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Date:Dec 16, 1992
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