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EXHIBIT 99.2
Press Release of the Company - June 23, 2000
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AMERICAN REALTY TRUST REPAYS ENTIRE $2.46 MILLION MARGIN DEBT
ON ITS INCOME OPPORTUNITY REALTY INVESTOR SHARES
DALLAS, June 23, 2000 (PRIMEZONE) -- American Realty Trust, Inc. (NYSE:ARB)
announced today that the company has obtained the necessary financing from its
affiliate, Transcontinental Realty Investors, Inc. (NYSE:TCI), to repay the
$2.46 million debt relating to the margin calls on its shares of Income
Opportunity Realty Investors, Inc. (AMEX:IOT). The margin debt was paid on June
22, 2000. ART owns 409,935 shares of IOT.
American Realty continues to negotiate with its margin debt lenders in regard to
the stock of its other affiliates, Transcontinental Realty Investors, Inc. and
National Realty, L.P. (AMEX:NLP).
Dallas-based American Realty Trust, Inc. owns a diverse portfolio of properties
located across the United States, as well as interests in mortgage loans and
stock holdings in real estate related entities. For more information on the
company, go to the Investor Data page of its web site at www.amrealtytrust.com.
CONTACT: Karen Amrhine or Gregory Pettit
Shandwick International
(646) 658-8000
