Kimbrough Ronald E

• Purchase • Sale • Planned purchase • Planned sale Net purchase Net sale Activity signal Earnings

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Abbreviations B: Buy, S: Sell, PP: Planned purchase, PlS: Planned sale, PrS: Proposed sale, O: Option / Other

Notification date	Transaction date	Company	B/S Transaction type	Nb. shares Price Value	Number of shares	Price	Value
2004-07-07	2004-05-31	Transcontinental Realty Investors Inc (TCI)	S Sale	90,446 295.64 US$3,963,122	90,446	295.64	US$3,963,122
2004-07-07	2004-05-31	Income Opportunity Realty Investors Inc (IOR)	S Sale	81,502 197.87 US$1,707,901	81,502	197.87	US$1,707,901
2004-07-07	2004-05-31	American Realty Investors Inc (ARL)	S Sale	17,468 447.03 US$4,480,072	17,468	447.03	US$4,480,072