Prime Retail Inc. ... ... ... Ticker...

EARNINGS

August 05, 1994

Prime Retail Inc. ... ... ... Ticker ... ... ... Yesterday's

... ... ... ... ... ... .. ... ... Symbol ... ... ... Cls. ... Chg.

... ... ... ... ... ... .. ... ... PRME ... ... .. .. 18 1/4 .. .. + 3/8

Period ended

6/30 ... ... ... 2nd qtr. ... ... ... Year ago ... ... ... Chg.

Revenue .. .. .. $12,871 ... .. .. .. $6,637 ... ... .. .. +93.9%

Net Income .. .. $(608) ... ... .. .. $(947) ... ... .. .. --

Primary EPS ... $(0.21) ... ... .. .. ($0.38) ... .. .. .. --

... ... ... ... 6 mos. ... ... ... Year ago ... ... ... Chg.

Revenue ... ... $25,364 ... .. ... $12,630 ... .. .. .. +100.8%

Net Income .. .. $(1,404) .. .. .. $(2,008) ... .. .. .. ---

Primary EPS ... $(0.53) ... ... .. $(0.80) ... ... .. .. ---

Figures in thousands (except per share data.)

1993 results are pro forma, assuming March 22, 1994, initial public offering had occurred before start of 1993 periods. Funds from operations in second quarter of 1994 were $8.1 million, vs. $2.8 million. For six months, 1994 funds from operations were $13.5 million, up from $5.2 million. The company credited higher occupancy rates and operating profits at new outlet shopping centers.

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