EXHIBIT 99



Contact: Jonathan B. Weis FOR IMMEDIATE RELEASE

Director of Corporate Communications
Entertainment Properties Trust
(816) 472-1700


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

ENTERTAINMENT PROPERTIES TRUST ANNOUNCES DEAL TO ACQUIRE
MEGAPLEX THEATRE PROPERTIES OPERATED BY CONSOLIDATED

KANSAS CITY, Mo. (June 29, 1998) - Entertainment
Properties Trust (EPR:NYSE), a Real Estate Investment Trust
(REIT) that owns entertainment-related properties, announced
today that it has signed a binding purchase agreement to
acquire the Raleigh Grand 16 in Raleigh, N.C., operated by
Consolidated Theatres. The agreement with Consolidated
covers four properties, including the Raleigh Grand, with an
approximate value of $45 million. The Raleigh Grand
property represents a transaction value of $8.375 million.

Consolidated, based in Charlotte, N.C., is a regional movie
exhibitor that operates six theatres with more than 60
screens. It has more than 120 screens in development
throughout the southeast.

"The Raleigh Grand and other locations we have under
contract advance our strategy of buying the dominant theatre
in its respective marketplace," said President Robert L.
"Chip" Harris. "Consolidated and its principals have been
in the movie theatre business for more than 25 years and
they run the kind of operation that is crucial to the
long-term success of our investment."

-MORE-





EPR PURCHASE AGREEMENT
First and final add

Since becoming publicly traded in November of 1997, EPR has
acquired more than $400 million in theatre and related properties.

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
shares of beneficial interest are traded on the New York Stock
Exchange under the ticker symbol EPR.

###