ONE LIBERTY PROPERTIES, INC. ACQUIRES VIDEO SUPERSTORE PROPERTY

Great Neck, New York - December 4, 1995 - One Liberty Properties, Inc. (ASE:OLP;OLP Pr) announced today that it has acquired an 8,000 square foot retail video store located in Rosenberg, Texas for a consideration of approximately $1.065 million.

The single story building is net leased on a long term basis to Hollywood Entertainment Corporation (operating under the name Hollywood Video), a publicly held Oregon-based organization specializing in the retail rental and sale of videocassettes and video games.

The location of the property was selected due to its high traffic location on U.S. Highway 59. The net lease on the building expires in 2009 and provides the tenant with extension options through 2019.