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EXHIBIT 99.2
BASIC CAPITAL MANAGEMENT, INC. ANNOUNCES MARGIN CALLS
DALLAS, June 19, 2000 -- Basic Capital Management, Inc. announced Monday that on
Friday, June 16, 2000, the company received margin calls from numerous margin
lenders with respect to its existing margin debt in the total amount of
approximately $37 million which is secured by BCM's equity investments in its
affiliates, American Realty Trust, Inc. (NYSE: ARB), Income Opportunity Realty
Investors, Inc. (AMEX: IOT), Transcontinental Realty Investors, Inc. (NYSE:
TCI), and National Realty, L.P. (AMEX: NLP).
Basic Capital Management currently is not in a position to satisfy such debt
and, as a result, the company may default in its obligations under the related
margin agreements. BCM intends to negotiate with its margin lenders regarding
the terms of repayment of this debt. There can be no assurance that the
company will be successful in its effort to negotiate satisfactory terms for
the repayment of this debt.
Basic Capital Management, Inc. is a Dallas-based real estate advisory company.
For more information on the company, go to the web site www.bcm-inc.com.
CONTACT: Phyllis Wolper
Director, Investor Relations
(214) 692-4902
SOURCE: Basic Capital Management, Inc.
