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.

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