ESCONDIDO, Calif., March 12 /PRNewswire/ -- Realty Income Corporation
(Realty Income) (NYSE: O) today announced that its board of directors has
declared an increase in the amount of its monthly dividend of $.0025 to $.1625
per share from $.16 per share.  This represents the second consecutive quarter
in which the Company has raised its dividend.  The dividend is payable on
April 15, 1998 to stockholders of record as of April 1, 1998.  The new
dividend amount represents an increase in the annualized rate from $1.92 per
share to $1.95 per share.  The Company continues its policy of declaring
dividends on a monthly, not quarterly basis.
    Realty Income owns and actively manages a portfolio of 834 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 and
focus primarily on middle-market retailers providing goods and services which
satisfy basic consumer needs.

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