MONM Monmouth Capital Corp (MM)

Monmouth Capital Corporation Reports First Quarter Earnings FREEHOLD, N.J., May 16 /PRNewswire-FirstCall/ -- Monmouth Capital Corporation (NASDAQ:MONM) reported net income of $648,000 or $0.17 a share for the three months ended March 31, 2005 as compared to $788,000 or $0.25 a share for the three months ended March 31, 2004. A summary of significant financial information for the three months ended March 31, 2005 and 2004 is as follows: Three Months Ended March 31, 2005 2004 Total Income $1,801,000 $1,745,000 Net Income (Loss) $648,000 $788,000 Net Income (Loss) Per Share $0.17 $0.25 Weighted Average Shares Outstanding 3,841,000 3,113,000 Eugene W. Landy, President, stated, "The first quarter results were satisfactory. The decline in net income was due to the fact that we recorded gains on securities of $469,000 in the first quarter of 2005 as compared to gains of $782,000 in the first quarter of 2004. Monmouth Capital Corporation has significant funds to invest in real property acquisitions. Our ability to grow earnings depends on our ability to add to our property portfolio." Monmouth Capital Corporation is currently operating as a diversified real estate investment trust (REIT), investing in real estate equities, mortgages, mortgage-backed securities and other REIT securities. MONM is part of a family of REITs including United Mobile Homes, Inc. (AMEX:UMH), which invests in manufactured home communities, and Monmouth Real Estate Investment Corporation (NASDAQ:MNRTA), which invests in net-leased industrial properties on long-term leases to investment grade tenants. It is MONM's intention to pursue any real estate opportunities other than the specialized areas of United Mobile Homes, Inc. and Monmouth Real Estate Investment Corporation. DATASOURCE: Monmouth Capital Corporation CONTACT: Rosemarie Faccone or Susan Jordan of Monmouth Capital, +1-732-577-9993

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