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EXHIBIT 99.1
[AMERICAN REALTY TRUST, INC. LETTERHEAD]
AMERICAN REALTY TRUST ANNOUNCES MARGIN CALLS
DALLAS, June 19, 2000 (PRIMEZONE) -- American Realty Trust, Inc. (NYSE: ARB -
news) 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 $35 million which is secured by the
company's equity investments in its affiliates, Income Opportunity Realty
Investors, Inc. (AMEX: IOT - news), Transcontinental Realty Investors, Inc.
(NYSE: TCI - news), and National Realty, L.P. (AMEX: NLP - news).
American Realty Trust is not currently in a position to satisfy such debt and,
as a result, the company may default in its obligations under the related margin
agreements. ART 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 efforts to negotiate satisfactory terms for the repayment of
this debt.
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: Ken Fairchild
Fairchild Motta
(214) 691-2232 or
(214) 695-1464
SOURCE: American Realty Trust, Inc.
