Website: N/A
Stock Symbol: AMEX: IOT
Market Value: N/A (in millions)

As used herein, the terms “IORI,” “the Company,” “we,” “our” or “us” refer to Income Opportunity Realty Investors, Inc., a Nevada corporation, individually or together with is subsidiaries. Income Opportunity Realty Investors, Inc. is the successor to a California business trust organized on December 14, 1984, which commenced operations on April 15, 1985. Prior to January 1, 2003, IORI elected to be treated as a Real Estate Investment Trust (“REIT”) under Sections 856 through 859 of the Internal Revenue Code of 1986, as amended (the “Code”). Due to the completion of a tender offer by a subsidiary of American Realty Investors, Inc. (“ARI”), an affiliate, on March 19, 2003, and the resulting concentration of ownership, IORI no longer met the requirement, as of January 1, 2003, for tax treatment as a REIT. IORI cannot re-qualify to elect REIT tax status for at least five years after January 1, 2003.

Syntek West, Inc. (“SWI”) owns approximately 57.