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UNIVERSAL HEALTH REALTY INCOME TRUST ANNOUNCES PRELIMINARY RESULTS FOR 1992

 KING OF PRUSSIA, Pa., Jan. 7 /PRNewswire/ -- Universal Health Realty Income Trust (NYSE: UHT) announced today preliminary results for the year ended Dec. 31, 1992, subject to completion of its annual audit.
 The trust's cash available for distribution per share for the year is expected to be approximately $1.96 compared to $2.02 in the prior year. For the quarter ended Dec. 31, 1992, cash flow is expected to be approximately $.47 per share compared to $.50 per share in the prior year. The cash flow decline was caused by a reduction in interest income of $.19 per share for the year and $.07 per share for the quarter from a mortgage loan investment on Lake Shore Hospital. Lake Shore is in default of its obligations under this loan and has not paid the trust since May 7, 1992. The trust expects to record a net loss per share for the year of $.25 and $.56 for the quarter due to a write-down of the mortgage loan investment. At Dec. 31, 1992, the trust's shareholders' equity was approximately $76 million and the trust's total liabilities were approximately $50 million.
 Included in the results for the fourth quarter is a $6.5 million non-cash expense due to the write-down of the entire remaining carrying value of the mortgage loan investment on Lake Shore Hospital. The trust had previously taken a write-down of $6 million on the mortgage loan investment. While the trust continues to pursue recovery of this investment, increased uncertainty of both the amount and the timing of any recovery prompted the additional write-down. The write-down had no effect on the trust's cash flow. The trust maintains a reserve of $250,000 for the potential future expense of pursuing its legal remedies.
 The trust has obtained a temporary waiver from its banks for the violation of a financial covenant caused by the write-down. The trust is discussing with its banks the terms of a permanent amendment that will accommodate the write-down and may also alter other terms of the Credit Agreement.
 Universal Health Realty Income Trust, a real estate investment trust, invests in health care and related facilities.
 /delval/
 -0- 1/7/93
 /CONTACT: Kirk E. Gorman of Universal Health Realty Income Trust, 215-265-0688/
 (UHT)


CO: Universal Health Realty Income Trust ST: Pennsylvania IN: FIN SU: ERP

MK-LJ -- PH024 -- 2769 01/07/93 15:57 EST
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Date:Jan 7, 1993
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