EXHIBIT 99


PRESS RELEASE


FOR IMMEDIATE RELEASE

CONTACT: Jon Weis
Director Corporate Communications
Entertainment Properties Trust
(816) 472-1700

Joe Keenan
Sturges + Word
(816) 221-7500


ENTERTAINMENT PROPERTIES TRUST ANNOUNCES DEAL TO
ACQUIRE MEGAPLEX THEATRE PROPERTY OPERATED BY REGAL CINEMAS

KANSAS CITY, Mo. (July 22, 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 Regal Powder Springs 22-screen, 5,100-seat
megaplex theatre in suburban Atlanta, Ga., operated by Regal
Cinemas.

Regal Cinemas, based in Knoxville, Tenn., is a national
movie exhibitor that operates over 250 theatres in 28 states
with more than 2,400 screens. The purchase price for the
Regal Powder Springs property is $15.5 million and includes
three additional land parcels for future development by
Entertainment Properties Trust.

"Powder Springs has brought us one of the major theatre
companies, Regal, into our group of operators," said
President Robert L. "Chip" Harris. "We think that, with the
tremendous growth experienced in the suburban Atlanta
marketplace, this is a great asset to add to our portfolio."

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Since becoming publicly traded in November of 1997, EPR has
acquired more than $400 million in theatre and related
properties throughout the United States which are operated
by such first-run movie exhibitors as AMC Entertainment,
Consolidated Theatres, Muvico Theaters and Regal Cinemas.

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.

Entertainment Properties Trust company contact: Jon Weis,
Director, Corporate Communications, 1200 Main Street, Suite
3250, Kansas City, Missouri 64105. (816) 472-1700. FAX
(816) 472-5794.

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