Arizona Land Income Corporation Reports Second Quarter Results

  
    
  
  
    
      Arizona Land Income Corporation (AMEX: AZL), an independent real estate 
      investment trust (REIT), today announced earnings for the three and six 
      month periods ending June 30, 2007.
    
    
      For the operating period of April 1 through June 30, 2007, the Company 
      had total income of approximately $58,000 compared to $120,000 for the 
      quarter ended June 30, 2006. The Company attributes this decrease to a 
      decrease of approximately $101,290 in interest on mortgages. The Company 
      reported a net loss of approximately $22,000 or ($.01) per share for the 
      quarter ended June 30, 2007, compared to a net income of approximately 
      $95,000 or $.05 per share for the quarter ended June 30, 2006.
    
    
      For the six-month period ending June 30, 2007, the Company reported 
      total income of approximately $129,000 compared to approximately 
      $233,000 for the same period during fiscal 2006. This decrease is due 
      primarily to a decrease of approximately $162,000 in interest on 
      mortgages and an increase of approximately $57,000 in interest on 
      temporary investments.
    
    
      The Company reported a net loss of approximately $100,000 or ($.05) per 
      share for the period from January 1, 2007 through June 30, 2007. The net 
      income for the comparable prior period in 2006 was approximately 
      $179,000 or $0.10 per share. The net loss in income is primarily 
      attributable to a decrease in interest on mortgages and an increase in 
      fees for professional services and administration and general expenses.
    
    
      Safe Harbor Statement under the Private Securities Litigation Reform Act 
      of 1995:
    
    
      Statements contained in this release except for historical information 
      are forward-looking statements that are based on current expectations 
      and involve risks and uncertainties. Without limiting the generality of 
      the foregoing, words such as “may,” 
      “will,” “expect,” 
      “believe,” “anticipate,” 
      “intend,” “could,” 
      “estimate,” or “continue” 
      or the negative or other variations thereof or comparable terminology 
      are intended to identify forward-looking statements. The risks and 
      uncertainties inherent in such statements may cause actual future events 
      or results to differ materially and adversely from those described in 
      the forward-looking statements. Specifically, there can be no assurance 
      that the Company will complete a merger or acquisition transaction, or 
      any other strategic transaction on favorable terms or at all. Additional 
      important factors that may cause a difference between projected and 
      actual results for the Company are discussed in the Company’s 
      filings from time to time with the U.S. Securities and Exchange 
      Commission, including but not limited to the Company’s 
      annual reports on Form 10-K, subsequent quarterly filings on Form 10-Q 
      and current reports on Form 8-K. The Company disclaims any obligation to 
      revise or update any forward-looking statements that may be made from 
      time to time by it or on its behalf.