On June 2, 2016, the Board of Directors of American Realty Investors Inc. elected Raymond Roberts, Sr., as a director, to fill a vacancy on the Board of Directors created by the resignation of Sharon Hunt. Mr. Roberts is currently retired. For more than five years prior to December 31, 2014, he was Director of Aviation of Steller Aviation Inc. Also on June 2, 2016, Mr. Roberts was elected as a member of the Audit Committee, the Nominating and Governance Committee and the Compensation Committee of the Board of Directors of the company. Mr. Roberts has been a director of New Concept Energy Inc. since his election, effective June 17, 2015. He is also a member of the Nominating and Governance Committee of the Board of Directors of NCE, which has its Common Stock listed and traded on the NYSE MKT.