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Strategies & Market Trends : Ocwen Asset Inv. Co (OAC) -- Ignore unavailable to you. Want to Upgrade?

To: leigh aulper who wrote (8)	1/26/1998 3:16:00 PM
From: leigh aulper	Respond to of 64

right on target Ocwen Asset Investment Corp. Reports Quarterly Results January 26, 1998 ORLANDO, Fla., Jan. 26 /PRNewswire/ -- Ocwen Asset Investment Corp. (Nasdaq: OAIC) ("OAIC") today reported funds from operations of $0.28 per share for the quarter ended December 31, 1997 as compared to $0.22 per share for the prior quarter. OAIC's funds from operations for the period from its inception in May 1997 to December 31, 1997 ("Short Period") were $11.97 million or $0.61 per share. Net income for the quarter ending December 31, 1997 was $5.38 million as compared to $4.35 million for the prior quarter. OAIC's net income for the Short Period was $11.79 million or $0.60 per share. All per share amounts are based on diluted weighted average common shares outstanding. Christine A. Reich, President of OAIC stated, "We are pleased with our financial results for the first seven and one-half months of operations and that we have closed transactions totaling $279.8 million while having maintained our disciplined approach to investing. We continue to expect that during 1998 OAIC will fully leverage and invest the proceeds from its initial public offering."