EXHIBIT 99


PRESS RELEASE


FOR IMMEDIATE RELEASE

CONTACT: Jonathan B. Weis
Director of Corporate Communications
Entertainment Properties Trust
(816) 472-1700

Joe Keenan, Sturges + Word
(816) 221-7500


ENTERTAINMENT PROPERTIES TRUST DISCLOSES
LETTERS OF INTENT WITH OPERATORS/DEVELOPERS

KANSAS CITY, MO. (May 27, 1998) Entertainment Properties
Trust (EPR:NYSE), a Real Estate Investment Trust (REIT) that owns
entertainment-related properties, announced today that it has
executed non-binding Letters of Intent with several movie
exhibition operators and/or developers for the acquisition and
lease-back of megaplex movie theatres and related properties.

Consummation of any transaction will be conditioned upon
performance of due diligence, execution of a mutually acceptable
definitive agreement and satisfaction of pre-closing conditions.
The Company will make more detailed announcements concerning
these transactions once definitive agreements have been executed.

Entertainment Properties Trust is a Real Estate Investment Trust
whose principal business strategy is to acquire and develop a
diversified portfolio of high-quality properties leased to major
entertainment-related business operators. The company's common
stock is traded on the New York Stock Exchange under the ticker
symbol EPR.

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Letters of Intent -- Page 2

Other than historical information, this press release may include
forward-looking statements as defined in the Private Securities
Litigation Reform Act of 1995 and identified by words such as
"continue," "believe," "may," "hope," "anticipate," "goal,"
"forecast" or comparable terms. The Company's actual financial
condition, results of operations or business may vary materially
from those contemplated by such forward-looking statements and
involve various risks and uncertainties, including the Company's
initial dependence on a single tenant and lease guarantor for its
revenues and ability to make distributions, potential conflicts
of interest, competition from other entities providing capital to
the entertainment industry, dependence on key personnel,
operating risks in the entertainment industry that may affect the
operations of the Company's tenants, tax risks, interest rates
and availability of debt financing, real estate investment risks
and other risks and uncertainties. Investors are cautioned not to
place undue reliance on such forward-looking statements, and are
encouraged to review the risk factors identified in the Company's
prospectus dated November 18, 1997 and in the Company's reports
filed with the Securities and Exchange Commission.

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