Market Overview

American Realty Investors, Transcontinental Realty Investors, and Income Opportunity Realty Investors Announce New Board Member Ray Roberts Sr. of Denton, Texas

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DALLAS--(BUSINESS WIRE)--

We are saddened by the death of Sharon Hunt who served as a board member for ARL, TCI, and IOT for over 10 years. Her enthusiasm and guidance for our companies will certainly be missed.

Knowing Ms. Hunt was seriously ill, we began a search several months ago for a possible replacement. Our intent was to fill this vacant board seat with an individual who would possess the same ability to provide a deep sense of wisdom and wholesome guidance in an effort to help management navigate our business with an orientation towards growth.

We are pleased that Ray Roberts Sr. of Denton, Texas has agreed to serve on our boards. Mr. Roberts is a retired United States Air Force Major who has served in several military operations earning him several special awards, including a Bronze Star and a Medal for Humane Action. Since his retirement Mr. Roberts has been heavily involved in various community, public service, and political activities. These activities include serving on county charity school boards, The Public Service Authority, the Denton County Housing Finance Corporation, as well as serving as a delegate to several state political conventions.

Mr. Roberts brings to our board an individual with deep commitment to both the local and national community, which is especially important as we have positioned the company for the last several years.

American Realty Investors (NYSE: ARL) maintains a 38-year commitment to greater shareholder value through the acquisition, financing, operation and sale of real estate and real estate assets. American Realty is highly diverse in location, with a portfolio of properties strategically located throughout the United States. Its holdings include apartments, office buildings, retail centers and parcels of land. At the time of purchase, acquisitions are often referred to as "undervalued" or "underdeveloped." Under ARL ownership, value is added through physical improvements as well as management improvements. The result is increased income through higher rental and occupancy rates and increased income.

Transcontinental Realty Investors (NYSE: TCI) maintains a strong emphasis on creating greater shareholder value through acquisition, financing, operation, developing, and sale of real estate across every geographic region in the United States. Transcontinental produces revenue through the professional management of apartments, office buildings, warehouses, and retail centers that are "undervalued" or "underperforming" at the time of acquisition. Value is added under Transcontinental ownership, and the properties are repositioned into higher classifications through physical improvements and improved management. Transcontinental also develops new properties, such as luxury apartment homes principally on land it owns or acquires.

Beginning in 1985, Income Opportunity Realty Investors, Inc. (NYSE MKT: IOT) has been committed to creating greater shareholder value through the acquisition, financing, operation and sale of real estate across the United States. Income Opportunity's business is investing in equity interests in real estate through direct equity investments and partnerships, and financing real estate and real estate-related activities through investments in mortgage loans. All of our real estate is located in the southwest region of the continental United States.

Pillar Income Asset Management
Chris Childress, 469-522-4275
press@pillarincome.com

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