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BODDIE-NOELL PROPERTIES, INC.

    CHARLOTTE, N.C., Nov. 17 /PRNewswire/ -- Boddie-Noell Properties, Inc. (AMEX: BNP), a Charlotte, N.C. based real estate investment trust (REIT), today reported ownership of the Company's stock by Directors and Executive Officers.  In connection with the Company's acquisition of BT Venture Corporation, Boddie-Noell Enterprises, Inc., an affiliate of B. Mayo Boddie and Nicholas B. Boddie, sold its common stock in the Company to certain executive officers of the Company.  B. Mayo Boddie and Nicholas B. Boddie are the Chairman and Vice-Chairman of the Company. The sale was consummated to enable the Company to continue to qualify as a real estate investment trust under the rules governing the limitation of stock ownership by affiliated entities.  Following the acquisition of BT Venture Corporation and the sale by Boddie-Noell Enterprises, Inc., ownership of the Company's stock by Directors and Executive Officers is as follows:
                                                      As of 10/31/94
                                                     Number   Percentage
                                                   of Shares   of Shares
    B. Mayo Boddie            Chairman               70,495      2.36%
    Nicholas B. Boddie        Vice Chairman          70,495      2.36%
    William H. Stanley        Director                3,000      0.10%
    Richard A. Urquhart, Jr.  Director                  100      0.00%
    James B. Powers           Director                3,500      0.12%
    D. Scott Wilkerson        President and CEO      39,570      1.32%
    Philip S. Payne           Executive Vice
                               President and CFO     39,570      1.32%
    Douglas E. Anderson       Vice President/
                                  Secretary          42,361      1.42%
    W. Craig  Worthy          Vice President/
                                  Treasurer          40,425      1.35%
    All Directors and Executive Officers as a group 309,516     10.35%
    Boddie-Noell Enterprises, Inc. Savings and
     Employee Retirement Plan                        89,250      2.98%
    All Directors, Executive Officers
      and Related Parties                           398,766     13.33%
     Shares reported include shares owned by spouses and minor children.
     -0-                            11/17/94
    /CONTACT:  Philip S. Payne of Boddie-Noell Properties, 704-333-1367/
    (BNP)


CO: Boddie-Noell Properties, Inc. ST: North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures


Area, 52,586 sq mi (136,198 sq km). Pop.
 IN: SU:

MM-JM -- CH001 -- 6153 11/17/94 10:01 EST EST electroshock therapy.

EST
abbr.
electroshock therapy
 
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Publication:PR Newswire
Date:Nov 17, 1994
Words:312
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