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CLEVETRUST REALTY INVESTORS RESUMES QUARTERLY DIVIDEND

 CLEVETRUST REALTY INVESTORS RESUMES QUARTERLY DIVIDEND
 WESTLAKE, Ohio, Feb. 24 /PRNewswire/ -- John C. Kikol, president of


CleveTrust Realty Investors (NASDAQ: CTRIS), a real estate investment trust, announced today that at the Quarterly Board Meeting held on Feb. 21, 1992, the trustees declared a quarterly distribution of $.03 per share payable on April 24, 1992 to shareholders of record as of April 10, 1992. This is the first distribution of the trust since 1988. The decision to resume a dividend distribution was based on improved operating results as the trust reported positive funds from operations of $761,000 for the fiscal year ended Sept. 30, 1991. For the first quarter of fiscal 1992, which ended Dec. 31, 1991, the trust reported positive funds from operations of $278,000, which was a 73 percent increase compared to the same quarter last year. Funds from operations are obtained by adding depreciation expense to the trust's income (loss) before gains on sales of real estate and extraordinary income.
 At the 20th Annual Shareholders' Meeting held Feb. 21, 1992, the shareholders elected Howard W. Broadbent, James M. Carney, Jr., John C. Kikol and Jeffrey A. Himmel for a three year term ending 1995, and Leighton A. Rosenthal and John D. Weil were elected for a two year term ending 1994. Kikol also announced that the shareholders approved the amendment and extension of the 1983 Incentive Stock Option Plan which shall be retitled "1992 Stock Option Plan."
 -0- 2/24/92
 /CONTACT: John C. Kikol, president of CleveTrust Realty Investors, 216-899-0909/
 (CTRIS) CO: CleveTrust Realty Investors ST: Ohio IN: FIN SU: DIV


CG -- CL010 -- 1930 02/24/92 13:18 EST
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Publication:PR Newswire
Date:Feb 24, 1992
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