BELVEDERE CORP &lt;BLV> 4TH QTR LOSS

  Oper shr loss 21 cts vs loss 95 cts
      Oper net loss 666,000 vs loss 2,184,000
      Avg shrs 3,181,805 vs 2,310,200
      Year
      Oper shr loss 30 cts vs loss 23 cts
      Oper net loss 823,000 vs loss 606,000
      Avg shrs 2,757,040 vs 2,614,225
      NOTE: Net excludes realized investment gains of 666,000
  dlrs vs 289,000 dlrs in quarter and 2,274,000 dlrs vs 1,468,000
  dlrs in year.
  

