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VINLAND PROPERTY TRUST REPORTS YEAR END RESULTS

 VINLAND PROPERTY TRUST REPORTS YEAR END RESULTS
 DALLAS, Feb. 27 /PRNewswire/ -- Vinland Property Trust


(NASDAQ: VIPTS) today announced a net loss of $3.0 million, or 50 cents per share, for the year ended Nov. 30, 1991. This compares with net income of $2.6 million, or 44 cents per share, for the year ended Nov. 30, 1990. Revenues for the years 1991 and 1990 were $3.8 million and $6.0 million, respectively.
 The trust recorded a $2.5 million provision for losses in 1991 related to the writedown of Westover Valley Apartments. There was no such provision in 1990. The trust recorded a gain on sale of real estate of $2.9 million in 1990 and no such gain in 1991.
 Net rental income (rental income less property operations expenses) for fiscal 1991 was $165,000, compared with $426,000 in 1990.
 Vinland Property Trust is a combination mortgage and equity real estate investment trust which operates primarily in Texas and Oklahoma.
 VINLAND PROPERTY TRUST
 Financial Highlights
 (In thousands, except share and per share data)
 Year ended Nov. 30 1991 1990
 Revenues $ 3,805 $ 6,039
 Loss before gain on sale of real estate (2,985) (269)
 Gain on sale of real estate -- 2,875
 Net income (loss) $(2,985) $ 2,606
 Inc. (loss) per shr. of beneficial interest:
 Loss before gain on sale of real estate $ (0.50) $ (0.04)
 Gain on sale of real estate -- 0.48
 Net income (loss) $ (0.50) $ 0.44
 Weighted average number of shares of
 beneficial interest outstanding 5,965,788 5,965,788
 -0- 2/27/92
 /CONTACT: Jean Krone Bono of National Realty Advisors, 214-692-4800, for Vinland Property Trust/
 (VIPTS) CO: Vinland Property Trust ST: Texas IN: FIN SU: ERN


GK -- NY031 -- 3198 02/27/92 11:02 EST
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Date:Feb 27, 1992
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