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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000950134-03-008566.txt : 20030523
<SEC-HEADER>0000950134-03-008566.hdr.sgml : 20030523
<ACCEPTANCE-DATETIME>20030523160908
ACCESSION NUMBER:		0000950134-03-008566
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20030521
ITEM INFORMATION:		Other events
FILED AS OF DATE:		20030523

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICAN REALTY INVESTORS INC
		CENTRAL INDEX KEY:			0001102238
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE OPERATORS (NO DEVELOPERS) & LESSORS [6510]
		IRS NUMBER:				752847135
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15663
		FILM NUMBER:		03718324

	BUSINESS ADDRESS:	
		STREET 1:		1800 VALLEY VIEW LANE
		STREET 2:		SUITE 300
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75234
		BUSINESS PHONE:		4695224200

	MAIL ADDRESS:	
		STREET 1:		1800 VALLEY VIEW LANE
		STREET 2:		SUITE 300
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75234
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d06304e8vk.txt
<DESCRIPTION>FORM 8-K
<TEXT>
<PAGE>


                                  UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

     PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

         Date of Report (Date of earliest event reported): May 21, 2003

                                -----------------

                         American Realty Investors, Inc.

             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)

<Table>
<S>                                <C>                                  <C>
           Nevada                            1-15663                         75-2847135
(State or other jurisdiction         (Commission File Number)              (IRS Employer
of incorporation)                                                        Identification No.)
</Table>

              1800 Valley View Lane, Suite 300, Dallas, Texas 75234
               (Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code              (469) 522-4200



<PAGE>




ITEM 5.  OTHER EVENT AND REQUIRED FD DISCLOSURE.

The Registrant released the attached press release attached hereto as Exhibit
99.1 on May 23, 2003.


<PAGE>



SIGNATURES


         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                        AMERICAN REALTY INVESTORS, INC.


Date: May 23, 2003                      By: /s/ RONALD E. KIMBROUGH
                                           ------------------------------------
                                            Ronald E. Kimbrough
                                            Ronald E. Kimbrough
                                            Executive Vice President and
                                            Chief Financial Officer (Principal
                                            Financial and Accounting Officer and
                                            Acting Principal Executive Officer)




</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>d06304exv99w1.txt
<DESCRIPTION>PRESS RELEASE
<TEXT>
<PAGE>
                                                                    EXHIBIT 99.1


                                                                    NEWS RELEASE


AMERICAN REALTY INVESTORS REQUESTS WITHDRAWAL OF REGISTRATION STATEMENT

DALLAS (MAY 23, 2003) -- American Realty Investors, Inc. (NYSE: ARL) announced
today that its board of directors has determined that it is not in the best
interest of American Realty to continue to pursue previously proposed mergers
with Transcontinental Realty Investors, Inc. (NYSE: TCI) and Income Opportunity
Realty Investors, Inc. (AMEX: IOT). As a result of the board's action, American
Realty has requested that the Securities and Exchange Commission consent to the
withdrawal of its registration statement on Form S-4 (No. 333-83292) filed
February 22, 2002, relating the issuance of American Realty preferred stock in
connection with the proposed mergers.

American Realty Investors, Inc. is a real estate investment company that holds a
diverse portfolio of equity real estate located across the U.S., including
office buildings, apartments, hotels, shopping centers and developed and
undeveloped land. Transcontinental Realty Investors, Inc. is a real estate
investment company that invests in real estate similar to ARL's holdings. Income
Opportunity Realty Investors, Inc. is a real estate investment company that
invests in real estate. For more information on each of these companies, visit
their respective websites at www.bcm-inc.com.

This news release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995, which can be identified by
the use of forward-looking terminology, such as "intend," "may," "will,"
"expect," "anticipate," "estimate," or "continue" or the use of the negative
thereof or other variations thereon or comparable terminology. In particular,
any statement expressed or implied, concerning future events is a
forward-looking statement. There can be no assurance that any expectation
expressed or implied herein will prove to be correct, or that any contemplated
event or result will occur as anticipated.



Media Contact:  Investor Relations
                (800) 400-6407 (469) 522-4245
                investor.relations@bcminc.com

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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