AZL Arizona Land Income Corp

Arizona Land Income Corporation (AMEX: AZL), an independent real estate investment trust (REIT), today declared a $1.00 per share special dividend, consistent with our Master Agreement with The Shidler Group and as a means of distributing to our shareholders both the gain realized by the Company in connection with its mortgage receivable and other income earned in fiscal 2006. This dividend will be payable to shareholders of record as of January 5, 2007 and paid on January 26, 2007, and will be in lieu of both the 4th Quarter 2006 and the 1st Quarter 2007 quarterly dividend payments. The next regular quarterly dividend payment will be made for the 2nd Quarter of 2007. 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. 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-KSB, subsequent quarterly filings on Form 10-QSB 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. Arizona Land Income Corporation (AMEX: AZL), an independent real estate investment trust (REIT), today declared a $1.00 per share special dividend, consistent with our Master Agreement with The Shidler Group and as a means of distributing to our shareholders both the gain realized by the Company in connection with its mortgage receivable and other income earned in fiscal 2006. This dividend will be payable to shareholders of record as of January 5, 2007 and paid on January 26, 2007, and will be in lieu of both the 4th Quarter 2006 and the 1st Quarter 2007 quarterly dividend payments. The next regular quarterly dividend payment will be made for the 2nd Quarter of 2007. 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. 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-KSB, subsequent quarterly filings on Form 10-QSB 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.