Income Opportunity Realty Board Approves Share Repurchase Plan

DALLAS, June 28, 2000 (PRIMEZONE) -- Income Opportunity Realty Investors, Inc. (AMEX:IOT) announced Wednesday that its Board of Directors voted June 23, 2000, to establish a stock repurchase program. A total of 300,000 shares of company stock are authorized under the plan. If or when the company repurchases IOT shares under the plan, purchases will be made in the open market.

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



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