MANHATTAN NATIONAL CORP <MLC> 4TH QTR LOSS Oper shr loss 20 cts vs loss 81 cts Oper net loss 1,042,000 vs loss 4,077,000 Revs 38.5 mln vs 50.3 mln 12 mths Oper shr loss six cts vs loss 43 cts Oper net loss 336,000 vs loss 2,176,000 Revs 137.8 mln vs 209.1 mln NOTE: qtrs 1986 and prior exclude net realized investment gains of 74,000 dlrs and 644,000 dlrs, respectively, and years 1986 and prior exclude realized investment gains of 642,000 dlrs and 1,979,000 dlrs, respectively.