Margin Debt on Income Opportunity Realty Shares Retired by American Realty and Basic Capital Management


DALLAS, June 23, 2000 (PRIMEZONE) -- Income Opportunity Realty Investors, Inc. (AMEX:IOT) Friday announced that its largest shareholder, American Realty Trust, Inc. (NYSE:ARB), and Basic Capital Management, Inc. have obtained secured loans from their affiliate, Transcontinental Realty Investors, Inc. (NYSE:TCI), the proceeds of which were utilized to satisfy a portion of ART's and BCM's margin debt obligations. A total of $6.1 million was funded, which allowed ART and Basic Capital Management, Inc. to pay off all of their respective margin debt relating to their shares of Income Opportunity and pay down approximately $3 in margin debt related to other securities owned by ART and BCM.

The margin debt was paid on June 22, 2000. ART owns 409,935 shares of IOT and BCM owns 108,802 shares of IOT.

Both American Realty and Basic Capital continue to negotiate with their margin debt lenders in regard to the stock of their other affiliates, Transcontinental Realty Investors, Inc. and National Realty, L.P. (AMEX:NLP).

Income Opportunity Realty Investors, Inc. is a Dallas-based real estate investment trust. IOT primarily invests in equity interest in real estate through direct ownership and partnerships. For more information, go to the company's Web site at www.incomeopp-realty.com



            

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