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THE PRICE REIT INC. REPORTS RESULTS

 THE PRICE REIT INC. REPORTS RESULTS
 SAN DIEGO, Nov. 13 /PRNewswire/ -- The Price REIT Inc. announced


its operating results for the three and nine months ended Sept. 30, 1992.
 Gross revenues (before minority interest) from rental and interest income for the nine-month period amounted to $13,540,000. For the third quarter gross revenues amounted to $5,333,000, up from the $4,786,000 reported for the previous quarter. The increase can be attributed mostly to revenues from recent acquisitions. Funds from operations (as defined below) for the nine-month period were $5,337,000 and for the third quarter were $1,719,000. For the nine- month period reported earnings per share were $1.10 and dividends per share were $1.69.
 THE PRICE REIT INC.
 Financial Summary
 Three Months Nine Months
 Ended Ended
 Sept. 30, 1992 Sept. 30, 1992
 Operating Results:
 Gross revenues $5,333,000 13,540,000
 Expenses 2,379,000 4,938,000
 Depreciation 1,362,000 3,333,000
 Minority interest in income 664,000 2,038,000
 Net income 928,000 3,231,000
 Per share data
 Net income per share .32 1.10
 Dividend per share .56 1.69
 Shares outstanding 2,928,000 2,928,000
 Funds from Operations:
 Income before minority
 interest 1,592,000 5,269,000
 Add: Depreciation and
 amortization 1,362,000 3,333,000
 Less: Deferred rental income (328,000) (828,000)
 Distributions to minority
 partner (907,000) (2,437,000)
 Funds from operations 1,719,000 5,337,000
 Dividends paid 1,647,000 4,941,000
 Funds from Operations is defined as income before minority interest in income of Price Plaza, a consolidated joint venture, plus depreciation, less deferred rental income and distributions to the minority partner in Price Plazas.
 THE PRICE REIT INC.
 Balance Sheet Data
 Sept. 30, 1992 Dec. 31, 1991
 Assets:
 Rental property 173,397,000 113,984,000
 Other 3,508,000 1,064,000
 Liabilities:
 Notes 62,400,000 ---
 Other 2,047,000 481,000
 Minority interest 42,945,000 43,344,000
 Stockholder equity 69,513,000 71,223,000
 The company also announced the appointment, effective Dec. 1, 1992, of William Harp to the position of executive vice president and chief operating officer. Harp has had 16 years in the real estate business, including 13 years as senior acquisitions manager for CB Realty Advisors.
 George M. Jezek, chief financial officer and a director was also appointed an executive vice president. Sol Price continues as chairman of the board, president, and chief executive officer of the company.
 Price REIT Inc. is a self-administered real estate investment trust which commenced operations Dec. 3, 1991, under the laws of the State of Maryland. The company presently has invested assets of approximately $132,000,000. It owns outright or has an interest through its joint venture with The Price Company, in twelve retail properties totaling 2.1 million square feet with a combined occupancy of approximately 96 percent located in California, Arizona, and Connecticut.
 -0- 11/13/92
 /CONTACT: George Jezek, CFO of The Price REIT, 619-551-2320/ CO: The Price REIT Inc. ST: California IN: SU: ERN


KJ-EH -- SD002 -- 0768 11/13/92 14:26 EST
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Date:Nov 13, 1992
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