Exhibit 99.1


10172 Linn Station Road
Louisville, Kentucky 40223
(502) 426-4800
Contact: Gregory A. Wells, Executive Vice President and CFO Date: March 12, 2008


FOR IMMEDIATE RELEASE

NTS Realty Holdings Limited Partnership Reports Year Ended December 31, 2007 Results

Louisville, KY (March 12, 2008) (AMEX: NLP) – NTS Realty Holdings Limited Partnership (the “Company”), announced today its results for the year ended December 31, 2007.

Rental income and tenant reimbursements from continuing operations for the years ended December 31, 2007 and 2006 were approximately $41,439,000 and $32,754,000, respectively. The increase of approximately $8,685,000, or 27%, was primarily the result of acquiring two multifamily properties, The Overlook at St. Thomas (March 2007) and Creek’s Edge at Stony Point (August 2007), along with an increase in rental income from the Company’s multifamily properties.

Loss from continuing operations for the years ended December 31, 2007 and 2006 were approximately $11,396,000 and $10,400,000, respectively.

Net income for the years ended December 31, 2007 and 2006 were approximately $3,946,000 and $41,115,000, respectively. Net income for the year ended December 31, 2007 included a net gain of $13,482,000 related to the sale of two of the Company’s office buildings. Net income for the year ended December 31, 2006 included a net gain of $49,950,000 primarily related to the sale of two of the Company's multifamily properties.

Consistent with its past practice, the Company will not conduct an earnings conference call to discuss the aforementioned results.

About NTS Realty Holdings Limited Partnership
The Company directly, or as a tenant in common with unaffiliated co-owners, currently owns twenty-nine properties, comprised of eleven multifamily properties, fourteen office buildings and business centers, three retail properties and one ground lease. The properties are located in and around Louisville and Lexington, Kentucky, Nashville, Tennessee, Richmond, Virginia, Fort Lauderdale, Florida, Indianapolis, Indiana and Atlanta, Georgia. The Company’s limited partnership units are listed on the American Stock Exchange under the trading symbol “NLP.”


Safe Harbor Under the Private Securities Litigation Reform Act of 1995
This press release contains forward looking statements that can be identified by the use of words like “believe,” “expect,” “may,” “could,” “intend,” “project,” “estimate,” or “anticipate.” These forward looking statements, implicitly or explicitly, include assumptions underlying the statements and other information with respect to the Company’s beliefs, plans, objectives, goals, expectations, estimates, intentions, financial condition, results of operations, future performance and business, including its expectation of, and estimates with respect to, revenues, expenses, earnings, return of and on equity, return on assets, asset quality and other financial data and performance ratios. Although the Company believes that the expectations reflected in its forward looking statements are reasonable, these statements involve risks and uncertainties which are subject to change based on various important factors, some of which are beyond the Company’s control. Important factors that would cause actual results to differ materially from expectations are disclosed under “Risk Factors” and elsewhere in the Company’s most recent annual report on Form 10-K, which was filed on March 29, 2007, and registration statement on Form S-4, which became effective on October 27, 2004.

If one or more of the factors affecting forward looking information and statements proves incorrect, the Company’s actual results of operations, financial condition or prospects could differ materially from those expressed in, or implied by, the forward looking information and statements contained in this press release.

2


NTS REALTY HOLDINGS LIMITED PARTNERSHIP
Consolidated Statements of Operations for the Years Ended December 31, 2007, 2006 and 2005
(UNAUDITED)

  2007
    2006
    2005
 
REVENUE:                
   Rental income   $ 39,844,410   $ 31,208,488   $ 15,462,235  
   Tenant reimbursements    1,594,790    1,545,529    1,535,827  



     Total revenue     41,439,200    32,754,017    16,998,062  
   
EXPENSES:   
   Operating expenses    9,068,352    7,174,356    4,358,896  
   Operating expenses reimbursed to affiliate    4,967,150    3,912,659    2,025,743  
   Management fees    2,005,100    1,665,786    713,540  
   Property taxes and insurance    5,272,547    3,981,922    2,062,066  
   Professional and administrative expenses    1,411,276    1,922,057    2,660,593  
   Professional and administrative expenses reimbursed to affiliate    1,732,160    1,577,566    1,416,818  
   Depreciation and amortization    16,226,404    12,652,566    4,784,473  



     Total operating expenses     40,682,989    32,886,912    18,022,129  



   
OPERATING INCOME (LOSS)     756,211    (132,895 )  (1,024,067 )
   
Interest and other income    92,911    147,087    366,834  
Interest expense    (13,388,598 )  (10,270,345 )  (4,466,670 )
Loss on disposal of assets    (69,010 )  (143,602 )  (392,861 )
Income from investment in joint venture    --    --    953,300  
Minority interest    (1,211,772 )  --    --  



   
LOSS FROM CONTINUING OPERATIONS     (11,396,714 )  (10,399,755 )  (4,563,464 )
Discontinued operations, net    1,859,928    1,564,584    2,525,077  
Gain on sale of discontinued operations    13,482,291    49,950,486    270,842  



   
NET INCOME (LOSS)    $ 3,945,505   $ 41,115,315   $ (1,767,545 )



   
Loss from continuing operations allocated to limited partners    $ (10,681,225 ) $ (9,746,901 ) $ (4,276,988 )
Discontinued operations, net allocated to limited partners    1,743,161    1,466,366    2,366,563  
Gain on sale of discontinued operations allocated to limited partners    12,635,869    46,814,798    253,839  



   
NET INCOME (LOSS) ALLOCATED TO LIMITED PARTNERS    $ 3,697,805   $ 38,534,263   $ (1,656,586 )



   
Loss from continuing operations per limited partnership unit    $ (1.00 ) $ (0.92 ) $ (0.40 )
Discontinued operations, net per limited partnership unit    0.16    0.14    0.22  
Gain on sale of discontinued operations per limited partnership unit    1.19    4.39    0.02  



   
NET INCOME (LOSS) PER LIMITED PARTNERSHIP UNIT    $ 0.35   $ 3.61   $ (0.16 )



   
Number of limited partnership interests     10,666,322    10,667,117    10,667,117  



3


The following information was filed by Nts Realty Holdings Lp (NLP) on Wednesday, March 12, 2008 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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