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ANGELES PARTICIPATING MORTGAGE TRUST RECEIVES NEW PLAN REQUEST TO RE-EXAMINE DISTRIBUTION OF $14.50 PER CLASS A SHARE

 LOS ANGELES, Nov. 16 /PRNewswire/ -- Angeles Participating Mortgage Trust (AMEX: APT), on Nov. 9, 1993, declared a cash dividend in the amount of $14.50 for each outstanding share of Class A stock payable Dec. 3, 1993.
 As previously announced, New Plan Realty Trust ("New Plan"), acquired 1,275,000 shares of Class B stock of APT. Such Class B shares are entitled to a 1 percent equity interest and a 33.3 percent voting interest in APT.
 New Plan has requested that the Board of Trustees of APT reconsider its decision to distribute the dividend of $14.50 per share of Class A stock. New Plan asserts that there are third parties with an interest in investing their property in APT in exchange for additional shares of Class A stock. APT could then benefit from the present strong market environment for real estate investment trusts.
 The Board of Trustees of APT reconsidered its decision and notwithstanding the recommendation of New Plan, the board is proceeding with the distribution of the $14.50 per share of Class A stock as previously announced.
 APT is traded on the American Stock Exchange.
 -0- 11/16/93
 /CONTACT: Ann Merguerian, 310-772-0147/
 (APT)


CO: Angeles Participating Mortgage Trust ST: California IN: FIN SU:

EH -- LA021 -- 5026 11/16/93 11:23 EST
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Publication:PR Newswire
Date:Nov 16, 1993
Words:218
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