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                     Interstate Gen: Dividend News Release

Interstate General Company L.P., A Limited Partnership
Executive Offices:  222 Smallwood Village Center, St. Charles, Maryland
20602  (301) 843-8600  FAX (301) 870-8481

                                  
                            News Release
     
     
FOR IMMEDIATE RELEASE                             CONTACT
March 25, 1998                                    Edwin L. Kelly
                                                  (301) 843-8600
     
     
              IGC DECLARES QUARTERLY CASH DISTRIBUTION
                                  
                                  
                                  
     ST. CHARLES, Md._ Interstate General Company L.P. (AMEX, PSE:

IGC), a diversified real estate organization, today announced that

the Board of Directors of its managing general partner has

authorized a quarterly cash distribution of $.02 per Class A Unit,

payable on April 13, 1998 to Unitholders of record on March 31,

1998.

     Founded in 1957, IGC is a publicly traded partnership

specializing in community development, homebuilding, investment

apartment properties and asset management services.



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