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UNIVERSAL HEALTH REALTY INCOME TRUST ANNOUNCES RESULTS FOR 1992

 KING OF PRUSSIA, Pa., Feb. 4 /PRNewswire/ -- Universal Health Realty Income Trust (NYSE: UHT) announced today final results for the year ended Dec. 31, 1992.
 The trust's cash available for distribution per share for the year was $1.96 compared to $2.02 in the prior year. For the quarter ended Dec. 31, 1992, cash flow was 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. Also as previously announced, the trust recorded 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 $76.3 million and the trust's liabilities for borrowed funds was $49.6 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 has filed suit against the parent guarantor of the loan in an effort to recover 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. The terms of the amendment may increase the interest rate on the bank debt and modify the schedule of repayments.
 Universal Health Realty Income Trust, a real estate investment trust, invests in health care and related facilities.
 UNIVERSAL HEALTH REALTY INCOME TRUST
 (Amounts in thousands, except per-share)
 Periods ended Three months 12 months
 Dec. 31 1992 1991 1992 1991
 Revenues:
 Base rental $3,899 $3,889 $15,593 $15,704
 Bonus rental 608 486 2,580 2,060
 Interest 101 475 874 2,101
 Total 4,608 4,850 19,047 19,865
 Expenses:
 Depreciation and amortization 787 791 3,144 3,165
 Interest expense 939 1,020 3,838 4,275
 Advisory fees 235 225 913 909
 Other operating expenses 116 106 467 428
 Provision for
 investment losses 6,467 --- 12,467 350
 Gain on marketable securities --- --- --- (57)
 Total 8,544 2,142 20,829 9,070
 Net income (loss) ($3,936) $2,708 ($1,782) $10,795
 Net income (loss) per share ($.56) $.38 ($.25) $1.53
 Average shares outstanding 7,047 7,047 7,047 7,047
 Net income (loss) ($3,936) $2,708 ($1,782) $10,795
 ADD: Depreciation and
 amortization expense 787 791 3,144 3,165
 Gain on marketable securities --- --- --- (57)
 Provision for
 investment losses 6,467 --- 12,467 350
 Cash available for dist. 3,318 3,499 13,829 14,253
 Cash per share avail. for dist. $.47 $.50 $1.96 $2.02
 Dividend paid .410 .395 1.630 1.540
 /delval/
 -0- 2/4/93
 /CONTACT: Cheryl Ramagano of Universal Health Realty Income Trust, 215-265-0688/
 (UHT)


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

MK-CC -- PH024 -- 3064 02/04/93 14:14 EST
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Date:Feb 4, 1993
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