AZL Arizona Land Income Corp

Arizona Land Income Corp. (AMEX: AZL), an independent real estate investment trust (REIT), today announced earnings for the three-month period ending March 31, 2006. For the operating period of January 1 through March 31, 2006, the company had total income of approximately $113,000, compared to approximately $90,600 for the quarter ended March 31, 2005. The company reported net income for the period ended March 31, 2006, of approximately $84,000 or $.05 per share, compared to net income of approximately $43,000 or $.02 per share in the first quarter of 2005.