New Shareholder Information Service Announced

    ESCONDIDO, Calif., Feb. 11 /PRNewswire/ -- Realty Income Corporation
(Realty Income) (NYSE: O) today announced that its board of directors has
declared a dividend of $.16 per share, payable on March 16, 1998, to
stockholders of record as of March 2, 1998.  The dividend represents an
annualized rate of $1.92 per share.  The Company continues its policy of
declaring dividends on a monthly, not quarterly, basis.
    Realty Income also announced it has activated a new toll-free interactive
telephone service that is active 24 hours a day, seven days a week and that
provides shareholders with immediate access to specific up-to-the-minute
corporate information.  The new number is:  1-888-811-2001.
    When shareholders access this number, they will immediately receive the
Company's most recent stock price quote.  They will also be offered a menu of
other information options including earnings reports, news releases and other
Company information via a recorded message.
    Realty Income owns and actively manages a portfolio of 828 commercial
properties in 43 states.  By purchasing the freestanding retail store
locations of regional and national chain store operators and then leasing the
locations back to them, Realty Income provides retailers with the opportunity
to free up financial resources for expansion.  The Company's acquisition and
investment activities are concentrated in highly specific target markets as
the Company focuses on middle-market retailers providing goods and services
which satisfy basic consumer needs.

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