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THE PRICE REIT ANNOUNCES INCREASED REVENUES, NET INCOME, AND FUNDS FROM OPERATIONS

 SAN DIEGO, Nov. 15 /PRNewswire/ -- The Price REIT Inc. (NASDAQ-NMS: PRETB, PRET) announced total revenues for the third quarter ended Sept. 30, 1993, were $7,090,000, up 33 percent from the $5,333,000 reported for the same period last year. Net income for the third quarter was $2,824,000, or $.49 per share, compared with $928,000, or $.32 per share a year ago. Funds from operations, considered a measure of operating performance for a REIT, amounted to $4,086,000, or $.71 per share, for the third quarter ended Sept. 30, 1993, compared with $1,719,000, or $.59 per share, for the same quarter last year. The per share figures are based upon weighted average shares outstanding during the period of 5,762,000 and 2,928,000, respectively.
 For the nine months ended Sept. 30, 1993, total revenues were up 39 percent to $18,852,000 from the $13,540,000 for the same period last year. Net income for the nine months amounted to $5,177,000, or $1.33 per share, compared to $3,231,000, or $1.10 per share, for the same period in fiscal 1992. Funds from operations for the nine-month period were $8,299,000, or $2.14 per share, as compared with $5,337,000, or $1.82, for the like period last year. The per share figures are based on weighted average number of shares outstanding during the period of 3,883,000 and 2,928,000, respectively. The increase in results is primarily due to acquisitions and related financing activities.
 The Price REIT is a self-administered, self-managed, fully integrated real estate investment trust specializing in the ownership and acquisition of retail power centers with invested assets of approximately $300 million. The company now owns 12 retail properties located in six states with approximately 3.4 million square feet of gross leasable area, with an overall occupancy rate in excess of 98 percent.
 -0- 11/15/93
 /CONTACT: George Jezek, The Price REIT, 619-551-2320/
 (PRET)


CO: The Price REIT Inc. ST: California IN: FIN SU: ERN

NY-LS -- SD002 -- 4167 11/15/93 08:00 EST
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Date:Nov 15, 1993
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