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UNIVERSAL HEALTH REALTY INCOME TRUST REPORTS FIRST QUARTER RESULTS

 KING OF PRUSSIA, Pa., April 16 /PRNewswire/ -- Universal Health Realty Income Trust (NYSE: UHT) announced today that cash flow per share available for distribution for the quarter ended March 31, 1993, was $.47 compared to $.53 in the same period in the prior year.
 Net income per share for the quarter ended March 31, 1993, was $.41 compared to $.42 for the same period in the prior year. The decline in cash flow and net income in the 1993 quarter as compared to the 1992 quarter was primarily caused by a reduction in interest income of $.07 per share from a mortgage loan investment in Lake Shore Hospital, which is currently in default of its obligations under this loan. The trust has not received a payment on the Lake Shore loan since May 7, 1992, and has established a reserve or its entire investment in the loan. The first quarter dividend of $.415 was paid on March 31, 1993.
 Included in net income for the first quarter of 1993 is $371,000 gain on the disposal of Live Oak Treatment Center. Live Oak Treatment Center, operated by Universal Health Services, Inc., discontinued operations in February 1992. As required by the lease, Universal Health Services, Inc. repurchased the property from the trust in February 1993 for the trust's original purchase price of $3.2 million.
 The trust settled on its secondary offering of 1.7 million common shares on April 2, 1993, and will settle on the exercise by the underwriters of a 200,000 share over-allotment allowance on April 20, 1993, bringing the total number of common shares outstanding to 8,947,000. The total net proceeds of the offering of approximately $33 million will be used to repay outstanding indebtedness under its revolving credit agreement.
 Universal Health Realty Income Trust, a real estate investment trust, invests in health care and human service related facilities including acute care hospitals, psychiatric hospitals, substance abuse recovery centers, rehabilitation hospitals and medical office buildings.
 /delval/
 -0- 4/16/93 R
 /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-MJ -- PH016R -- 6745 04/16/93 11:58 EDT
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Publication:PR Newswire
Date:Apr 16, 1993
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