UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-KSB
(Mark One)

[X] Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act
of 1934

                   For the fiscal year ended December 31, 1998

                                       or

[ ] Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange
    Act of 1934


                          Commission File No. 33-33504

                          AAA NET REALTY FUND IX, LTD.
                 (Name of small business issuer in its charter)

       Nebraska                                                76-0318157
(State or other jurisdiction of                              (IRS Employer
Incorporation or organization)                             Identification No.)

8 Greenway Plaza, Suite 824
Houston, Texas                                                    77046
(Address of principal executive offices)                       (Zip Code)

          Issuer's telephone number, including area code(713)850-1400.

        Securities registered pursuant to Section 12(b) of the Act: None
        Securities registered pursuant to Section 12(g) of the Act: None

Check whether the issuer (1) has filed all reports required to be filed by
Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding
12 months (or for such shorter period that the issuer was required to file such
reports), and (2) has been subject to such filing requirements for the past 90
days.     Yes    X     No

Check if there is no disclosure of delinquent filers in response to Item 405 of
Regulation S-B not contained in this form, and no disclosure will be contained,
to the best of the issuer's  knowledge,  in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-KSB or any
amendment to this Form 10-KSB.   X

Issuer's revenues for its most recent fiscal year: $557,470

                       DOCUMENTS INCORPORATED BY REFERENCE

Portions  of  the  Prospectus  of  Issuer  dated  June  6,  1990,  (included  in
Registration  Statement No.  33-33504 of Issuer) are  incorporated  by reference
into Part III.


<PAGE>



                                     PART I

Item 1.  Business

AAA Net Realty Fund IX, Ltd. (the "Issuer" or the  "Partnership")  was formed in
1990 and is engaged in the  business of  acquiring,  operating  and holding real
properties for investment.  The  Partnership  was organized to acquire  existing
real  estate  income-producing  properties  as  well  as land  upon  which  such
income-producing  properties are to be  constructed  (the  "properties"),  to be
leased to corporations. The properties will not be leased to franchisees of such
corporations  (unless  a  tenant  corporation  was to fail  and in such  event a
release may involve a franchisee  lessee).  American Asset  Advisers  Management
Corporation IX (a Nebraska corporation) is the Managing General Partner and H.
Kerr Taylor is the Individual General Partner.

The Partnership acquired three properties in 1991, a fourth property in 1992 and
a fifth  property in 1993 at a total price of $4,436,869  including  acquisition
fees  and  certain  acquisition  expenses.  Generally,  the  Partnership  leases
properties on a "net lease" basis to corporations having a net worth at the time
of acquisition in excess of $40 million.

A further description of the Partnership's  business is included in Management's
Discussion  and  Analysis  of  Financial  Condition  and  Results of  Operations
included in Item 6 of this Form 10-KSB.

The Objectives of the Partnership are:

       (1)     to preserve and protect the limited  partners'  original  capital
               contributions  by the free and clear  "all cash"  acquisition  of
               income-producing improved real estate properties;

       (2)     to  utilize   initial   limited   partner   equity  to   purchase
               income-producing  properties  at prices that are below  appraised
               values;

       (3)     to obtain capital  appreciation through increases in the value of
               the Partnership's properties;

       (4)     to provide the limited partners with quarterly cash
               distributions;

       (5)     to realize  certain  limited tax  benefits,  principally  through
               depreciation deductions so that taxable income of the Partnership
               will be  offset  to some  extent by  deductible  items,  with the
               result that  investors may receive  distributions  generated from
               the  Partnership's  operation with a reduced income tax liability
               associated with the distribution of income.

There can be no assurance  that such  objectives  can be attained.  It is not an
objective of the  Partnership  to shelter  taxable  income of investors  that is
derived from sources other than the Partnership.

Properties

As of December  31,  1998,  the  Partnership  owned five  properties  all in fee
simple. Four of these properties are located in Texas and one in Tennessee.

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<PAGE>

Although  the  specific  terms of each lease vary, a summary of the terms of the
leases is as follows:

The primary  term of the leases  ranges from ten to eighteen  years.  Two of the
leases also provide for renewal options.  The leases are all "triple-net" leases
whereby  the tenants are  responsible  for the  property  taxes,  insurance  and
operating costs.  Annual rental income ranges from $8,723 to $208,680.  Three of
the leases  provide  for  either  percentage  rents  based on sales in excess of
certain amounts, periodic escalations in the annual rental rates or both.

During 1998, two of the  Partnership's  leases each contributed more than 15% of
the Partnership's total rental income. Summarized as follows are the significant
items pertaining to each of these leases:

                                     Golden Corral         Baptist Memorial
                                      Corporation (1)  Health Services, Inc.

Lease Term                              15 Years                 10 Years
Expiration Date of Primary Term       December 2007            August 2007
Renewal Options                           N/A            2 Terms of 5 Years each
Square Footage of Improvements  `       12,000                    15,000
Base Annual Rental                   $  182,994                 $ 208,680

(1)   The Partnership owns two properties on lease to Golden Corral Corporation,
      one directly and one through a 4.8% joint  venture.  Information  included
      herein pertains only to the property owned 100% by the Partnership.

All of the Partnership's  leases specify a minimum amount of insurance  coverage
required to be carried by each tenant.  Management of the  Partnership  believes
that  the  insurance  policies  required  to be  carried  by  the  tenants  will
adequately  cover  the  replacement  cost of the  properties  and  any  personal
liability losses which the tenants may sustain.

Property Management

Prior to June 5, 1998,  the  supervision of the operations of the properties was
managed by American Asset Advisers Realty Corporation, ("AAA"), a related party.
Beginning June 5, 1998,  the  supervision of the operations of the properties is
managed by AmREIT Realty Investment Corporation, ("ARIC"), a related party. Such
management  includes  providing  leasing services in connection with identifying
and qualifying prospective tenants,  assisting in the negotiation of the leases,
providing quarterly financial statements, receiving and depositing monthly lease
payments,  periodic  verification of tenants'  payments of real estate taxes and
insurance  coverage,  and periodic  inspection of properties  and tenants' sales
records where  applicable.  The Managing  General Partner or such affiliates are
reimbursed for administrative expenses at cost. The tenants are responsible,  at
their  expense,  for  day-to-day  on-site  management  and  maintenance  of  the
properties.

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<PAGE>

Financing - Borrowing Policies - No Leverage

The General  Partners expect that the Partnership  will incur no indebtedness in
connection  with the operation of the  properties.  However,  in the exercise of
their fiduciary  duties the General Partners may elect to borrow funds on behalf
of the Partnership,  but only if necessary in their judgment to avoid what would
otherwise be substantial adverse consequences to the Partnership. All properties
were acquired on a debt-free basis.

The  Partnership  will not issue  any  senior  securities  nor will it invest in
junior mortgages, junior deeds of trust or similar obligations.

Sale of Properties

The General  Partners  expect that most of the properties  will be sold eight to
twelve  years  after  acquisition.  The  determination  of whether a  particular
property   should  be  sold  or  otherwise   disposed  of  will  be  made  after
consideration  of  performance  of the property and market  conditions  and will
depend,  in part, on the economic benefits of continued  ownership.  In deciding
whether to sell  properties,  the General Partners will consider factors such as
potential capital  appreciation,  cash flow and federal income tax consequences.
The General  Partners or their  affiliates may perform various  substantial real
estate  brokerage  functions in  connection  with the sale of  properties by the
Partnership.

Competitive Conditions

The properties owned by the Partnership are leased to fast food and family style
restaurants,  retail  businesses and a medical  facility.  These businesses face
competition from similar establishments within the surrounding areas.

At the time a property is sold or otherwise disposed of, the Partnership will be
in competition with others who are also seeking buyers for their properties.

Employees

The overall  management  decisions of the  Partnership  are made by the Managing
General  Partner,   American  Asset  Advisers  Management  Corporation  IX,  who
delegates certain day-to-day functions to the officers of ARIC, consultants, and
employees of ARIC. The Partnership itself has no employees.

Item 2.  Properties

As of March 31, 1999, the Partnership  owned five properties in fee simple (four
directly and one through a joint  venture with an affiliated  partnership).  The
properties  are  located in Texas and  Tennessee.  They are  operated  as retail
stores, restaurants and medical facilities.

Land - The  Partnership's  property  sites  range from  approximately  34,000 to
60,000 square feet depending upon building size and local  demographic  factors.
Sites purchased by the  Partnership are in high traffic  corridors and have been
reviewed for traffic and demographic pattern and history.

                                       4

<PAGE>

Buildings - The buildings are all single tenant and generally rectangular.  They
are positioned for good exposure to traffic flows and  constructed  from various
combinations  of  stucco,  steel,  wood,  brick and tile.  Buildings  range from
approximately  2,300 to 15,000 square feet.  Buildings are suitable for possible
conversion to other uses,  although  modifications  may be required prior to use
for other operations. There are no plans for renovations or improvements.

Leases - Tenants are companies  whose net worth exceed a minimum of $40 million.
Tenants are  diversified  by business type and are  represented by the following
types of businesses:  medical facilities,  retail clothing and accessories, full
service restaurants and fast food restaurants.

Geographic Location - The properties are located within major metropolitan areas
with populations that exceed 250,000.

A total of  $4,436,869  has been invested in properties as of December 31, 1998,
for the  Partnership.  This includes  land,  building and  acquisition  costs. A
further  description of the Partnership  properties is included in Item 1 and in
Schedule III-Real Estate Owned and Accumulated Depreciation of this Form 10-KSB.

Item 3.  Legal Proceedings

The Partnership does not have any material legal proceedings pending.

Item 4.  Submission of Matters to a Vote of Security Holders

During the fiscal year ended  December  31, 1998,  no matter was  submitted to a
vote of security holders through the solicitation of proxies or otherwise.





                                       5

<PAGE>

                                     PART II

Item 5.  Market for the Issuer's Common Equity and Related Stockholder Matters

As of March 31, 1999, 323 limited  partners had subscribed for 5,390.5 Units. No
established public trading market currently exists for the Units.

For the years  ended  December  31,  1998 and 1997,  the  Partnership  paid cash
distributions  to the  Limited  Partners  (LPs) in the  amount of  $462,721  and
$460,593, respectively and to the General Partners (GPs) in the amount of $3,000
and  $3,000,  respectively.  The  distributions  were  paid  entirely  from  the
operating profits of the Partnership.

A summary of the distributions by quarter is as follows:

                                  1998                      1997
       Quarter                    ----                      ----
        Ended              GPs           LPs         GPs          LPs
        -----              ---           ---         ---          ---

       March 31         $    750     $ 115,464    $    750    $ 114,926
       June 30          $    750     $ 115,626    $    750    $ 115,087
       September 30     $    750     $ 115,735    $    750    $ 115,223
       December 31      $    750     $ 115,896    $    750    $ 115,357

The   Partnership   intends  to  continue  the  payment  of  regular   quarterly
distributions.  There are currently no material  legal  restrictions  that would
limit the Partnership's ability to pay distributions.

Item 6.  Management's Discussion and Analysis of the Partnership's Financial
         Condition and Results of Operations.

The  Partnership  was organized on February 1, 1990, to acquire,  on a debt-free
basis,  existing  and newly  constructed  commercial  properties  located in the
continental  United States and  particularly  in the  Southwest,  to lease these
properties  to  tenants  under  generally  "triple  net"  leases,  to  hold  the
properties  with the expectation of equity  appreciation  and eventually to sell
the properties.

The Partnership's  overall investment  objectives are to acquire properties that
offer  investors  the  potential  for (i)  preservation  and  protection  of the
Partnership's  capital;  (ii) partially  tax-deferred  cash  distributions  from
operations;  and (iii) long-term capital gains through  appreciation in value of
the Partnership's properties realized upon sale.

LIQUIDITY AND CAPITAL RESOURCES

On June 6, 1990,  the  Partnership  commenced an offering to the public of up to
$15,000,000 (15,000 Units) of limited partnership interests. The proceeds of the
offering, lease income from the Partnership's properties and interest income are
the Partnership's source of capital. The Partnership closed its offering on June
5, 1992, having raised $5,390,500. Limited partners are not required to make any
additional capital contributions.

                                       6

<PAGE>

The Partnership's  investment strategy of acquiring  properties for all cash and
leasing  them  under net  leases to  corporations  minimizes  the  Partnership's
operating expenses. The General Partners believe that net rental income from the
leases will  generate  cash flow in excess of  Partnership  operating  expenses.
Since the leases  generally have remaining  terms ranging from 4 to 10 years and
provide for specified rental increases in excess of the initial base rent, it is
anticipated  that  Partnership  income will  increase  over time.  Approximately
$100,000  has been set aside  for  working  capital  reserves.  The  Partnership
intends  to  distribute  a  significant   portion  of  its  cash  available  for
distribution unless it becomes necessary to maintain additional reserves.

As of December 31, 1998, the  Partnership  had acquired five  properties and had
invested  $4,436,869  including  certain  acquisition  expenses  related  to the
Partnership's  investment in these properties.  These expenditures resulted in a
corresponding decrease in the Partnership's liquidity.

The Partnership made cash  distributions from operations to the limited partners
during  each  quarter of 1998 and 1997,  distributing  a total of  $462,721  and
$460,593 to the limited partners, respectively.

Inflation  has had very  little  effect on income  from  operations.  Management
expects  that  increases  in store  sales  volumes due to  inflation  as well as
increases  in the  Consumer  Price  Index  (C.P.I.)  may  contribute  to capital
appreciation of the Partnership  properties.  These factors,  however,  also may
have  an  adverse  impact  on  the  operating  margins  of  the  tenants  of the
properties.

RESULTS OF OPERATIONS

Years Ended December 31, 1998 and 1997:

Rental income increased from $514,719 in 1997 to $551,395 in 1998 primarily as a
result of  negotiating  a lease on one  property  with a new  tenant at a higher
rental rate. Interest income increased slightly from $5,474 in 1997 to $6,075 in
1998 as a result of an increase in average invested capital.  Expenses increased
by  $12,556  primarily  from  an  increase  in  administrative   expenses.   The
Partnership  recorded  net income in 1998 of $414,920 as compared to $390,199 in
1997. Each of the four properties owned 100% by the Partnership contributed more
than 10% of the total rental income for 1998.

This  information  contains  forward-looking  statements  within the  meaning of
Section 27A of the  Securities  Act of 1933 and  Section  21E of the  Securities
Exchange Act of 1934.  Although the Partnership  believes that the  expectations
reflected  in  such   forward-looking   statements  are  based  upon  reasonable
assumptions, the Partnership's actual results could differ materially from those
set forth in the  forward-looking  statements.  Certain factors that might cause
such a difference include the following: changes in general economic conditions,
changes in real estate  market  conditions,  the ability of the  Partnership  to
locate  suitable  tenants for its  properties and the ability of tenants to make
payments under their respective leases.

YEAR 2000 COMPLIANCE

The operations of the Partnership are relatively  simple and is managed by ARIC,
a subsidiary of AmREIT,  Inc. (the  "Company").  The following  disclosures have
been made in the Form 10-KSB of the Company:

The Year  2000  problem  ("Y2K")  concerns  the  inability  of  information  and
non-information   technology   systems  to   properly   recognize   and  process

                                       7

<PAGE>

date-sensitive  information  beyond January 1, 2000.  The Company's  information
technology system consists of a network of personal  computers and servers built
using  hardware  and  software  from  mainstream  suppliers.  The Company has no
internally  generated  programmed  software  coding  to  correct,  as all of the
software  utilized  by the  Company  is  purchased  or  licensed  from  external
providers.

In 1998,  the  Company  formed a Year 2000  committee  (the "Y2K  Team") for the
purpose  of  identifying,   understanding  and  addressing  the  various  issues
associated  with the Year 2000  problems.  The Y2K Team consists of members from
the Company,  including  representatives from senior management,  accounting and
computer consultants. The Y2K Team's initial step in assessing the Company's Y2K
readiness  consists of  identifying  any systems  that are  date-sensitive  and,
accordingly,  could have potential Y2K problems.  The Y2K Team is in the process
of  conducting  inspections,  interviews  and  tests  to  identify  which of the
Company's systems could have a potential Y2K problem.

The  Company's   information  system  is  comprised  of  hardware  and  software
applications  from  mainstream  suppliers;  accordingly,  the Y2K Team is in the
process of contacting the respective vendors and manufacturers to verify the Y2K
compliance of their products.  In addition,  the Y2K Team has also requested and
is evaluating  documentation  from other  companies with which the Company has a
material  third party  relationship,  including  the  Company's  tenants,  major
vendors,  financial  institutions and the Company's  transfer agent. The Company
depends on its tenants for rents and cash flows, its financial  institutions for
availability  of cash and financing and its transfer agent to maintain and track
investor  information.  Although  the  Company  continues  to  receive  positive
responses from its third party relationships regarding their Y2K compliance, the
Company  cannot be assured that the tenants,  financial  institutions,  transfer
agent and other vendors have adequately  considered the impact of the Year 2000.
The Company does not expect the Y2K impact of third parties to have a materially
adverse effect on its results of operation or financial position.

The Company has identified  and has  implemented  upgrades for certain  hardware
equipment. In addition, the Company has identified certain software applications
which will require  upgrades to become Year 2000 compliant.  The Company expects
all of these upgrades as well as any other  necessary  remedial  measures on the
information technology systems used in the business activities and operations of
the Company to be completed by September  30, 1999.  The Company does not expect
the aggregate cost of the Year 2000 remedial measures to exceed $10,000.

Based upon the progress the Company has made in addressing its Year 2000 issues,
the Company does not foresee  significant  risks  associated  with its Year 2000
compliance at this time. The Company plans to address its significant  Year 2000
issues  prior to being  affected  by them;  therefore,  it has not  developed  a
comprehensive  contingency plan. However, if the Company identifies  significant
risks related to its Year 2000 compliance,  the Company will develop contingency
plans as deemed necessary at that time.

Item 7.  Financial Statements and Supplementary Data

The  response  to this item is  submitted  in Item  13(a) of this  report and is
incorporated herein by reference.

Item 8.  Changes in and Disagreements with Accountants on Accounting and
         Financial Disclosure

None.

                                       8

<PAGE>



                                    PART III

Item 9.  Directors and Executive Officers of the Issuer

The Issuer has no officers or directors.  The  individual  and Managing  General
Partners are as follows:

H. Kerr Taylor,  age 48, is the Individual  General Partner of the  Partnership.
Mr.  Taylor is a graduate of Trinity  University.  Mr.  Taylor  also  received a
Masters of Business  Degree from Southern  Methodist  University and a Doctor of
Jurisprudence  from South Texas College of Law. Mr. Taylor has over twenty years
experience and has participated in over 300 real estate transactions. Mr. Taylor
has  served on a board and  governing  bodies of a bank,  numerous  private  and
public corporations and charitable institutions.

Mr.Taylor  is currently a general  partner or principal of a general  partner of
eleven affiliated  limited  partnerships.  Mr.Taylor is a member of the National
Board of Realtors, Texas Association of Realtors and Texas Bar Association.

American Asset  Advisers  Management  Corporation  IX is a Nebraska  corporation
which was  organized  for the sole  purpose  of acting as the  Managing  General
Partner of the  Partnership.  The  Managing  General  Partner  has a nominal net
worth. The two initial voting shareholders of American Asset Advisers Management
Corporation IX are Mr. Taylor and Realty Assets,  Inc., a Nebraska  corporation.
Mr.  Taylor's  ownership  interest is 80% of the stock of the  Managing  General
Partner;  Realty  Assets,  Inc.  owns the remaining  20%.  Realty  Assets,  Inc.
received  its 20%  interest as  consideration  for  agreeing to assume the risks
associated  with  advancing a portion of the  organization  and  offering  costs
relating to this offering.

The President and Treasurer of the Managing General Partner is Mr. Taylor who is
also a Director.  Stephen K. Wild, a resident of Omaha, Nebraska, has been named
Vice President, Secretary and a Director of the Managing General Partner.
Messrs. Taylor and Wild are the two Directors of the Managing General Partner.

Mr.  Wild,  age 50, is the former  Chairman of  Securities  America,  Inc.,  a
registered  broker/dealer,  which was also the dealer/manager of the Partnership
during the offering  period.  Mr. Wild served as the Chairman of the Board of
Securities America, Inc. from 1984 to 1998 and also as its President from
February 1991 to September  1997. Mr. Wild also served as the Chairman of
Financial  Dynamics,  Inc., the holding company for Securities  America,  Inc.
and certain other financial service companies  from September 1985 until October
of 1998.  Realty Assets,  Inc., which owns 20 percent of the common stock of the
Managing General Partner, is an affiliate of the Dealer/Manager.

The affairs of the  Partnership are conducted by ARIC. In addition to Mr. Taylor
as president, other officers of ARIC include:

Tim Kelley,  age 51,  serves as Vice  President of Capital  Markets of ARIC.
Mr.  Kelley's  career spans over twenty years of debt and equity  industry
experience.  Mr.  Kelley has held  senior  management,  compliance  and sales
responsibilities  in Broker/Dealers  and in investment  banking firms including
Lehman Brothers Kuhn Loeb,  Oppenheimer and Co., Inc., and McKenna and  Company.
Mr.  Kelley  holds the series 24, 27, 7, 3, 15, and 63 NASD  licenses.  He
received  his B.S.  degree from Kent State University.


                                       9

<PAGE>

Randal Garbs,  age 45, serves as Vice President of Capital  Markets of ARIC.
Mr. Garbs is  responsible  for capital  formation as well as marketing  services
to its tenants and  developers.  Mr.  Garbs has over twenty  years  experience
in marketing including acting as COO of a Houston  based  service  company.
Mr. Garbs has earned the series 7 and 63 NASD  licenses,  the Texas Real Estate
license and the CCIM  designation.  Mr. Garbs received his B.S. and M.B.A. from
Houston Baptist University and is active in various community organizations and
charitable foundations.

L. Larry Mangum,  age 34, serves as Chief Financial  Officer of ARIC. Mr. Mangum
is  responsible  for the  financial  accounting  and  reporting  relating to the
ARIC-sponsored  partnerships and their  properties.  He has over eleven years of
accounting  experience,  including four years with a public  accounting firm. He
previously  worked  for  American  General  Corporation,  a  national  insurance
company,  from 1991-1996 as part of a team  responsible  for  supervising  their
reporting  activities.  Mr. Mangum  received a B.B.A.  degree in accounting from
Stephen F. Austin State University and subsequently earned the CPA designation.

Other   individuals  who  are  specialists  in  their   respective   fields  are
periodically  employed by ARIC and are engaged on an as-needed  basis to perform
services on behalf of the  Partnership or the Managing  General Partner or both.
These  individuals are not employees of the Partnership or the Managing  General
Partner nor are they employees of other  ARIC-sponsored  partnerships,  although
they do perform various services and activities for those partnerships.

These individuals are:

Don Grieb,  age 47, is the Director of  Development  and  Acquisitions  of ARIC.
Mr. Grieb has over twenty years  experience within the real estate industry
including  development,  investment analysis and  administration.  Mr. Grieb has
served within management of such real estate firms as Hines  Interests and AEW.
Mr. Grieb  received his B.S. and M.B.A.  from the University of Illinois and is
a registered architect.

Jane Costello,  age 42, is a certified public  accountant and is responsible for
the  tax  accounting  related  to  the  ARIC-sponsored  partnerships  and  their
properties.  She has over nineteen years  experience as an accountant  including
over 4 years with a national public accounting firm and the last nine years with
her own accounting practice. Ms. Costello received a B.B.A. degree in accounting
from the University of Texas.

Item 10.  Executive Compensation

Other than as discussed in Item 12, neither the Individual  General  Partner nor
any of the directors and officers of the Managing  General Partner  received any
remuneration from the Issuer.  The Individual General Partner and his affiliates
received fees and  reimbursements  of expenses from the Partnership as discussed
in Note 7 in the accompanying financial statements.

Item 11.  Security Ownership of Certain Beneficial Owners and Management

As of December 31, 1998, no person was known by the Issuer to be the  beneficial
owner of more than 5% of the Units of the Issuer.  Neither  General Partner owns
any Units nor does any director or officer of the Managing  General  Partner own
any Units.

                                       10

<PAGE>

Item 12.  Certain Relationships and Related Transactions

The Individual  General Partner and the Managing  General Partner  received cash
distributions from operations during, or with respect to, the fiscal years ended
December 31, 1998 and 1997 of $3,000 and $3,000, respectively. For a description
of the share of cash  distributions  from operations,  if any, and fees to which
the General Partners are entitled,  reference is made to the material  contained
in the Prospectus under the headings CASH  DISTRIBUTIONS AND TAX ALLOCATIONS and
COMPENSATION TO GENERAL PARTNERS AND AFFILIATES.

Prior to June 5, 1998,  the  supervision of the operations of the properties was
managed by AAA, a related party.  Beginning June 5, 1998, the supervision of the
operations of the properties is managed by ARIC, a related party. The Issuer has
entered into  arrangements  with ARIC pursuant to which ARIC has assumed  direct
responsibility for day-to-day management of the Partnership's  properties.  This
service  includes the  supervision  of leasing,  rent  collection,  maintenance,
budgeting,  employment of personnel, payment of operating expenses, etc. ARIC is
reimbursed  for its  actual  costs  associated  with  performing  the  foregoing
services,  but does not receive a property  management  fee. In connection  with
administrative  services  rendered to the  Partnership,  $30,378 and $17,678 was
paid  to  ARIC  and  AAA in  1998  and  1997,  respectively.  See  Note 7 in the
accompanying financial statements.

Mr.  Taylor,  President of ARIC,  receives  compensation  from ARIC for services
performed for ARIC, which may include  services  rendered in connection with the
Issuer.  However,  the Managing  General Partner  believes that any compensation
relating to such services is not material.


                                       11

<PAGE>



                                     PART IV

Item 13.  Exhibits, Financial Statements, Schedules and Reports on Form 8-K

(a) (1)      Financial Statements

             Independent Auditors' Report
             Balance Sheet, December 31, 1998
             Statements of Income for the Years Ended December 31, 1998 and 1997
             Statements  of  Partnership  Equity  (Deficit)  for the Years Ended
             December 31, 1998 and 1997 Statements of Cash Flows for the Years
             Ended December 31, 1998 and 1997 Notes to Financial Statements for
             the Years Ended December 31, 1998 and 1997

     (2)     Financial Statement Schedules:  See (d) below

     (3)     Exhibits:  See (c) below

(b) Reports on Form 8-K filed after September 30, 1998:

             None

(c)          Exhibits

             3             See Exhibit 4 (a)

             4             (a) Amended and Restated Certificate and Agreement of
                           Limited  Partnership  (Incorporated  by  reference to
                           Exhibit A to the  Prospectus  of Issuer dated October
                           27, 1990,  contained in  Registration  Statement  No.
                           33-33504 of Issuer ("the Prospectus")).

                 (b)       Subscription    Agreement    and    Signature    Page
                           (Incorporated  by  reference  to  Exhibit  D  to  the
                           Prospectus).

              10 (a) (1)   Lease Agreement between Issuer and Foodmaker,  Inc.,
                           dated July 2, 1991. (Incorporated by reference to the
                           exhibit filed with the Issuer's Annual Report on Form
                           10-K for the fiscal year ended December 31, 1994).

              10 (a) (2)   Assignment of Lease between Issuer and Lads
                           Commercial Real Estate Developers dated October 4,
                           1991. (Incorporated by reference to the exhibit filed
                           with the Issuer's Annual Report on Form 10-K for the
                           fiscal year ended December 31, 1994).

              10 (a) (3)   Assignment of Rents and Leases between Issuer and
                           Northwend Center LP dated November 8, 1991.
                           (Incorporated by reference to the exhibit filed with
                           the Issuer's  Annual Report on Form 10-K for the
                           fiscal year ended December 31, 1994).

                                       12


<PAGE>



              10 (a) (4)   Lease Agreement between Issuer and Golden Corral
                           Corporation dated July 14, 1992.  (Incorporated by
                           reference to the exhibit filed with the Issuer's
                           Annual Report on Form 10-K for the fiscal year
                           ended December 31, 1994).

              10 (a) (5)   Joint Venture Agreement between Issuer and AAA Net
                           Realty Fund X, Ltd. dated  March 15,  1993.
                           (Incorporated by reference to the exhibit filed with
                           the Issuer's  Annual Report on Form 10-K for the
                           fiscal year ended December 31, 1994.)

              10 (a) (6)   Lease Agreement between Issuer and Baptist Memorial
                           Health Services, Inc. dated September 11, 1997.
                           (Incorporated by reference to the exhibit filed with
                           the Issuer's Annual Report on Form 10-KSB for the
                           fiscal year ended December 31, 1997.)

              27           Financial Data Schedule

(d)                    Financial Statement Schedules

                           Schedule III - Real Estate Owned and Accumulated
                           Depreciation


                                       13

<PAGE>



                                   SIGNATURES


Pursuant to the  requirements of Section 13 or 15(d) of the Securities  Exchange
Act of 1934,  the Issuer has duly  caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.


                                      AAA Net Realty Fund IX, Ltd.


                                      /s/ H. Kerr Taylor
March 31, 1999                        ------------------
Date                                  H. Kerr Taylor, Individual General Partner


                                      American Asset Advisers Management
                                      Corporation IX, Managing General Partner


                                      By /s/ H. Kerr Taylor
March 31, 1999                        ---------------------
Date                                  H. Kerr Taylor
                                      President


Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the following person on behalf of the Issuer and in the
capacities and on the dates indicated.



                                      /s/ H. Kerr Taylor
March 31, 1999                        ------------------
Date                                  H. Kerr Taylor
                                      President (Principal Executive Officer)
                                      and Director


                                      /s/ Stephen K. Wild
March 31, 1999                        -------------------
Date                                  Stephen K. Wild, Director

                                      /s/ L. Larry Mangum
March 31, 1999                        -------------------
Date                                  L. Larry Mangum, Chief Financial Officer
                                      (Principal Accounting Officer)


                                       14


<PAGE>



                          ANNUAL REPORT ON FORM 10-KSB
                      ITEMS 7, 13 (a)(1) AND (2) AND 13(d)


                              FINANCIAL STATEMENTS

                 FOR THE YEARS ENDED DECEMBER 31, 1998 AND 1997

                        AND FINANCIAL STATEMENT SCHEDULE

                      FOR THE YEAR ENDED DECEMBER 31, 1998




                          AAA NET REALTY FUND IX, LTD.

                                      F-1

<PAGE>



                          AAA NET REALTY FUND IX, LTD.
                          INDEX TO FINANCIAL STATEMENTS






                                                                            Page

FINANCIAL STATEMENTS

Independent Auditors' Report                                                 F-3
Balance Sheet, December 31, 1998                                             F-4
Statements of Income for the Years Ended
   December 31, 1998 and 1997                                                F-5
Statements of Partnership Equity (Deficit)
   for the Years Ended December 31, 1998 and 1997                            F-6
Statements of Cash Flows for the Years Ended
   December 31, 1998 and 1997                                                F-7
Notes to Financial Statements for the Years Ended
   December 31, 1998 and 1997                                        F-8 to F-11



FINANCIAL STATEMENT SCHEDULE:
Schedule III Real Estate Owned and Accumulated Depreciation
for the Year Ended December 31, 1998                                        F-12


All other financial statement schedules are omitted as the required  information
is either  inapplicable  or is included in the  financial  statements or related
notes.


                                      F-2

<PAGE>



INDEPENDENT AUDITORS' REPORT


AAA Net Realty Fund IX, Ltd.

We have audited the  accompanying  balance sheet of AAA Net Realty Fund IX, Ltd.
as of December 31, 1998 and the related statements of income, partnership equity
(deficit) and cash flows for each of the two years in the period ended  December
31, 1998. Our audits also included the financial  statement  schedule  listed in
the Index. These financial  statements and the financial  statement schedule are
the  responsibility of the Partnership's  management.  Our  responsibility is to
express an opinion on the financial  statements and financial statement schedule
based on our audits.

We  conducted  our  audits  in  accordance  with  generally   accepted  auditing
standards.  Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement.  An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements.  An audit also includes
assessing the  accounting  principles  used and  significant  estimates  made by
management,  as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.

In our  opinion,  such  financial  statements  present  fairly,  in all material
respects,  the financial position of AAA Net Realty Fund IX, Ltd. as of December
31,  1998 and the results of its  operations  and its cash flows for each of the
two years in the period ended  December 31, 1998, in conformity  with  generally
accepted accounting  principles.  Also, in our opinion, such financial statement
schedule, when considered in relation to the basic financial statements taken as
a whole,  presents  fairly in all material  respects the  information  set forth
therein.





DELOITTE & TOUCHE LLP

Houston, Texas
March 12, 1999





                                      F-3

<PAGE>




                          AAA NET REALTY FUND IX, LTD.
                             (A LIMITED PARTNERSHIP)
                                  BALANCE SHEET
                                DECEMBER 31, 1998

 ASSETS
 Cash and cash equivalents                                    $        216,302
 Property:
   Land                                                              1,490,494
   Buildings                                                         2,946,375
                                                              ----------------
                                                                     4,436,869
   Accumulated depreciation                                           (640,101)
                                                              ----------------
     Total property                                                  3,796,768
                                                              ----------------
 Other assets:
   Accrued rental income                                                28,240
                                                              ----------------
 TOTAL ASSETS                                                 $      4,041,310
                                                              ================

 LIABILITIES AND PARTNERSHIP EQUITY
 Liabilities:
   Accounts payable                                           $         13,427
                                                              ----------------
     TOTAL LIABILITIES                                                  13,427
                                                              ----------------
 Partnership equity (deficit):
   General partners                                                     (2,835)
   Limited partners                                                  4,030,718
                                                              ----------------
     TOTAL PARTNERSHIP EQUITY                                        4,027,883
                                                              ----------------
 TOTAL LIABILITIES AND PARTNERSHIP EQUITY                     $      4,041,310
                                                              ================














 See Notes to Financial Statements.

                                       F-4

<PAGE>



                          AAA NET REALTY FUND IX, LTD.
                            (A LIMITED PARTNERSHIP)
                              STATEMENTS OF INCOME


                                                For the Years Ended December 31,
                                                        1998              1997
                                                        ----              ----
 Revenues:
   Rental income                                $      551,395    $      514,719
   Interest income                                       6,075             5,474
                                                         -----             -----

     Total revenues                                    557,470           520,193
                                                       -------           -------

 Expenses:
   Advisory fees to related party                       30,378            17,678
   Depreciation                                         93,536            93,536
   Professional fees                                    18,636            18,780
                                                        ------            ------

     Total expenses                                    142,550           129,994
                                                       -------           -------

 Net income                                     $      414,920    $      390,199
                                                ==============    ==============

 Allocation of net income:
   General partners                             $        4,149    $        3,902
   Limited partners                                    410,771           386,297
                                                       -------           -------

                                                $      414,920    $      390,199
                                                ==============    ==============

 Net income per unit                            $        76.97    $        72.39
                                                ==============    ==============

 Weighted average units outstanding                    5,390.5           5,390.5
                                                       =======           =======












See Notes to Financial Statements.

                                      F-5



<PAGE>


                          AAA NET REALTY FUND IX, LTD.
                            (A LIMITED PARTNERSHIP)
                   STATEMENTS OF PARTNERSHIP EQUITY (DEFICIT)
                 FOR THE YEARS ENDED DECEMBER 31, 1998 AND 1997



                                       General        Limited
                                       Partners       Partners         Total
                                       --------       --------         -----
 Balance at December 31, 1996       $  (4,886)     $  4,156,964   $   4,152,078

   Net income                           3,902           386,297         390,199

   Distributions ($85.45 per Limited
                  Partnership Unit)    (3,000)         (460,593)       (463,593)
                                       ------          --------        --------

 Balance at December 31, 1997          (3,984)        4,082,668       4,078,684

   Net income                           4,149           410,771         414,920

   Distributions ($85.84 per Limited
                  Partnership Unit)    (3,000)         (462,721)       (465,721)
                                       ------          --------        --------

 Balance at December 31, 1998       $  (2,835)     $  4,030,718   $   4,027,883
                                     =========      ============   =============






















 See Notes to Financial Statements.

                                       F-6
<PAGE>

                          AAA NET REALTY FUND IX, LTD.
                            (A LIMITED PARTNERSHIP)
                            STATEMENTS OF CASH FLOWS

                                                For the Years Ended December 31,
                                                       1998              1997
                                                       ----              ----
 Cash flows from operating activities:
   Net income                                   $    414,920       $    390,199
   Adjustments to reconcile net income
     to net cash provided by operating
     activities:
       Depreciation                                   93,536             93,536
       Decrease (increase) in accounts
         receivable                                   46,875            (45,825)
       Increase in accrued rental income             (21,180)            (7,060)
       Increase (decrease) in accounts
         payable                                      (2,047)             2,520
                                                      ------              -----
         Net cash provided by operating
           activities                                532,104            433,370
                                                     -------            -------

 Cash flows from financing activities:
   Distributions paid to partners                   (465,721)          (463,593)
                                                    --------           --------
     Net cash used in financing
       activities                                   (465,721)          (463,593)
                                                    --------           --------

 Net increase (decrease) in cash and
   cash equivalents                                   66,383            (30,223)
 Cash and cash equivalents at beginning of year      149,919            180,142
                                                     -------            -------
 Cash and cash equivalents at end of year       $    216,302     $      149,919
                                                ============     ==============




















See Notes to Financial Statements.

                                      F-7

<PAGE>



                          AAA NET REALTY FUND IX, LTD.
                             (A LIMITED PARTNERSHIP)
                          NOTES TO FINANCIAL STATEMENTS
                 FOR THE YEARS ENDED DECEMBER 31, 1998 AND 1997


1.     SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

       DESCRIPTION OF BUSINESS AND NATURE OF OPERATIONS

       AAA Net Realty Fund IX, Ltd. (the "Partnership") is a limited partnership
       formed February 1, 1990,  under the laws of the State of Nebraska.  The
       Partnership  commenced operations as of June 6, 1990. American Asset
       Advisers Management Corporation IX (a Nebraska corporation) is the
       Managing General Partner and H. Kerr Taylor is the Individual General
       Partner.

       The  Partnership  was formed to acquire  commercial  properties for cash,
       own, lease, operate, manage and eventually sell the properties.  Prior to
       June 5, 1998,  the  supervision  of the  operations of the properties was
       managed by American Asset Advisers Realty Corporation, ("AAA"), a related
       party.  Beginning June 5, 1998, the  supervision of the operations of the
       properties is managed by AmREIT Realty Investment Corporation,  ("ARIC"),
       a related party.

       BASIS OF ACCOUNTING

       The financial  records of the  Partnership  are maintained on the accrual
       basis of  accounting  whereby  revenues  are  recognized  when earned and
       expenses are recorded when incurred.

       CASH AND CASH EQUIVALENTS

       For purposes of the statement of cash flows,  the  Partnership  considers
       all highly liquid debt instruments purchased with an original maturity of
       three months or less to be cash  equivalents.  Cash and cash  equivalents
       consist of demand deposits at commercial banks and money market funds.

       PROPERTY

       Property is leased to others on a net lease basis  whereby all  operating
       expenses related to the properties  including  property taxes,  insurance
       and common area  maintenance are the  responsibility  of the tenant.  The
       leases are accounted for under the operating lease method under which the
       properties are recorded at cost. Rental income is recognized ratably over
       the  life of the  lease  and  depreciation  is  charged  based  upon  the
       estimated useful life of the property.

       The Partnership's lease agreements do not provide for contingent rentals.

       The  Partnership  obtains  an  appraisal  on  each  property  prior  to a
       property's  acquisition and also performs an annual  valuation  update to
       evaluate potential impairment for each property for which an appraisal is
       older than twelve months.  This valuation is based on  capitalization  of
       income for each property,  a review of current market  conditions and any
       significant events or factors which would indicate a potential impairment
       to the value of a property.

                                      F-8

<PAGE>



       The final  property  acquisition  was completed as a joint  venture.  The
       Partnership's  interest in the joint  venture is 4.8%.  At  December  31,
       1998, the net book value of this property comprised 1.6% of total assets,
       the rental  income of $8,723  comprised  1.6% of total rental  income and
       2.1% of net income.  Because of the immateriality of these amounts to the
       financial  statements as a whole, the initial purchase and the subsequent
       rental  income  and   depreciation   have  been   accounted  for  on  the
       proportionate consolidation method.

       DEPRECIATION

       Buildings  are  depreciated  using  the  straight-line   method  over  an
       estimated useful life of 31.5 years.

       STATEMENT OF CASH FLOWS - SUPPLEMENTAL INFORMATION

       No cash was paid for income taxes or interest during 1998 or 1997.

       FEDERAL INCOME TAXES

       All  income  and  expense  items flow  through  to the  partners  for tax
       purposes.  Consequently,  no provisions for federal or state income taxes
       is provided in the accompanying financial statements.

       FAIR VALUE OF FINANCIAL INSTRUMENTS

       The carrying  value of financial  instruments,  consisting of cash,  cash
       equivalents,  accounts receivable and liabilities  approximate their fair
       value.

       USE OF ESTIMATES

       The  preparation  of financial  statements in conformity  with  generally
       accepted accounting  principles requires management to make estimates and
       assumptions  that affect the reported  amounts of assets and  liabilities
       and  disclosure of contingent  assets and  liabilities at the date of the
       financial  statements  and the reported  amounts of revenues and expenses
       during the  reporting  period.  Actual  results  could  differ from those
       estimates.

2.     PARTNERSHIP EQUITY

       The  Managing  General  Partner,   American  Asset  Advisers   Management
       Corporation IX, and the Individual General Partner,  H. Kerr Taylor, have
       made capital contributions in the amounts of $990 and $10,  respectively.
       All  other  contributions  have been made by the  limited  partners.  The
       General  Partners shall not be obligated to make any other  contributions
       to the capital of the  Partnership,  except  that,  in the event that the
       General  Partners have negative  balances in their capital accounts after
       dissolution and winding up of, or withdrawal from, the  Partnership,  the
       General  Partners will  contribute to the  Partnership an amount equal to
       the lesser of the deficit  balances in their capital accounts or 1.01% of
       the total capital  contributions  of the limited partners over the amount
       previously contributed by the General Partners.

                                      F-9

<PAGE>



3.     ALLOCATIONS AND DISTRIBUTIONS

       All income,  profits, gains and losses of the Partnership for each fiscal
       year,  other than any gain or loss  realized  upon the sale,  exchange or
       other  disposition  of  any  of  the  Partnership  properties,  shall  be
       allocated as follows:  (a) net loss shall be allocated 99% to the limited
       partners, .99% to the Managing General Partner and .01% to the Individual
       General Partner; and (b) net income will be allocated first in the ratio,
       and to the extent,  net cash flow is distributed to the partners for such
       year and any additional income for such year will be allocated 99% to the
       limited partners, 1% to the General Partners.

       For income tax purposes,  the gain  realized  upon the sale,  exchange or
       other disposition of any property will be allocated as follows:

       a.    first, to and among the partners in an amount equal to the negative
             balances in their  respective  capital  accounts (pro rata based on
             the relative amounts of such negative balances);

       b.    then,  to each  limited  partner  until the balance in such limited
             partner's  capital  account  equals the amount to be distributed to
             such limited partner in the first tier of the  distributions of net
             proceeds of sale;

       c.    then, to the General  Partners,  until the balance in their capital
             accounts  equals  the  amounts  to be  distributed  to the  General
             Partners in the second  tier of  distributions  of net  proceeds of
             sale;

       d.    then, 85% to the limited partners and 15% to the General Partners;
             and,

       e.    thereafter,  the Partners  shall be allocated gain or loss in order
             to meet  Treasury  Regulation  regarding  qualified  income  offset
             requirements.

       Any loss on the sale,  exchange,  or other  disposition  of any  property
       shall be  allocated  99% to the  limited  partners  and 1% to the General
       Partners.

4.     OPERATING LEASES

       A summary of minimum  future  rentals,  exclusive of any renewals,  under
       noncancellable  operating leases in existence at December 31, 1998 are as
       follows:

                                 1999           $   530,215
                                 2000           $   535,840
                                 2001           $   547,090
                                 2002           $   511,923
                                 2003           $   472,193
                                 2004-2009      $ 1,972,668

                                      F-10

<PAGE>



5.     MAJOR TENANTS

       The  Partnership's  operations are related to the acquisition and leasing
       of commercial real estate properties.  The following schedule  summarizes
       rental income by lessee for 1998 and 1997:

                                                       1998            1997
                                                       ----            ----
             Foodmaker (Texas)                   $     68,995     $    66,212
             Tandy Corporation (Tennessee)       $          -     $   109,896 *
             Baptist Memorial Health
               Services, Inc. (Tennessee)        $    208,680     $    69,560
             Payless ShoeSource/WaldenBooks
               (Texas)                           $     82,000     $    77,331
             Golden Corral Corporation
               (Texas)                           $    191,720     $   191,720
                                                 ------------     -----------
                   Total                         $    551,395     $   514,719
                                                 ============     ===========

             * Lease terminated during 1997

6.     INCOME RECONCILIATION

       A reconciliation of net income for financial reporting purposes to income
       for federal income tax purposes is as follows for the year ended December
       31:

                                                  1998                   1997
                                                  ----                   ----

           Net income for financial
             reporting purposes             $     414,920          $    390,199

           Accrued rental income                  (21,180)               (7,060)
                                            -------------          -------------

           Income for tax reporting
             purposes                       $     393,740          $    383,139
                                            =============          =============


7.      RELATED PARTY TRANSACTIONS

        The   Partnership   Agreement   provides  for  the   reimbursement   for
        administrative  services  necessary  for the  prudent  operation  of the
        Partnership and its assets with the exception that no  reimbursement  is
        permitted  for rent,  utilities,  capital  equipment,  salaries,  fringe
        benefits or travel expenses  allocated to the Individual General Partner
        or to any  controlling  persons  of the  Managing  General  Partner.  In
        connection with  administrative  services  rendered to the  Partnership,
        $30,378 and $17,678  was  incurred  and paid to ARIC and AAA in 1998 and
        1997, respectively.


                                      F-11

<PAGE>


                          AAA NET REALTY FUND IX, LTD.
         SCHEDULE III - REAL ESTATE OWNED AND ACCUMULATED DEPRECIATION
                      FOR THE YEAR ENDED DECEMBER 31, 1998

<TABLE>
<CAPTION>

                                                                                                                        LIFE ON
                                                                                                                        WHICH   
                                                                                                                        DEPREC.
                                                                                                                        IN LATEST
                                                                                                                        INCOME
   PROPERTY                 ENCUM-                        IMPROVE-  COST AT CLOSE OF YEAR    ACCUM.  DATE OF   DATE     STMT. IS
  DESCRIPTION               BRANCES  BUILDING    LAND      MENTS     BUILDING     LAND        DEPR.   CONST.  ACQUIRED  COMPUTED
  -----------               -------  --------    ----      -----     --------     ----        -----   ------  --------  --------

 <S>                        <C>      <C>        <C>         <C>     <C>        <C>          <C>       <C>     <C>       <C>


 Jack in the Box,            $0      $406,805   $174,345    $0      $406,805   $174,345     $96,320   N/A     07-12-91  31.5 Years
    Texas

 Baptist Memorial Health     $0    $1,097,725   $470,454    $0    $1,097,725   $470,454    $252,651   N/A      10-4-91  31.5 Years
   Services, Inc.
    Tennessee

 Payless Shoe Source,        $0      $393,573   $168,674    $0      $393,573   $168,674     $89,300   N/A     11-07-91  31.5 Years
    Texas

 Golden Corral Restaurant,   $0      $995,048   $654,211    $0      $995,048   $654,211    $192,044   N/A     08-20-92  31.5 Years
    Texas

 Golden Corral Restaurant,   $0       $53,224    $22,810    $0       $53,224    $22,810      $9,786   N/A     03-15-93  31.5 Years
                             --       -------    -------    --       -------    -------      ------                 
    Texas

                             $0    $2,946,375 $1,490,494    $0    $2,946,375 $1,490,494    $640,101
                             ==    ========== ==========    ==    ========== ==========    ========


</TABLE>

(1)  Transactions  in real estate and accumulated  depreciation  during 1998 and
     1997 are summarized as follows:

                                                                 Accumulated
                                                       Cost      Depreciation
                                                       ----      ------------
Balance at December 31, 1996                        $4,436,869     $453,030
Acquisitions                                                $0           $0
Depreciation expense                                        $0      $93,535
                                                    ----------     --------
Balance at December 31, 1997                        $4,436,869     $546,565
Acquisitions                                                $0           $0
Depreciation expense                                        $0      $93,536
                                                    ----------     --------
Balance at December 31, 1998                        $4,436,869     $640,101
                                                    ==========     ========

(2) Aggregate cost for Federal income tax purposes  $4,436,869
                                                    ==========









                                      F-12