Excel Announces Record Date for Special Meeting and Stock Dividend.SAN DIEGO--(BUSINESS WIRE)--July 28, 1998--Excel Realty Trust Inc. (NYSE NYSE See: New York Stock Exchange :XEL XEL New Carlisle, Quebec, Canada - New Carlisle / via Rail Service (Airport Code) ) today announced that its board of directors has set August 12, 1998 as the record date to determine stockholders of record entitled to vote at a special meeting of stockholders to consider and approve the previously announced merger with New Plan Realty Trust (NYSE:NPR NPR In currencies, this is the abbreviation for the Nepal Rupee. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ). The special meeting of stockholders is anticipated to be held on September 25, 1998. Excel has also set August 12, 1998 as the record date to determine stockholders of record entitled to receive the previously announced 20 percent stock dividend to be paid on each share of Excel common stock immediately prior to the consummation of the proposed merger. The stock dividend is conditioned on the approval of the merger by the requisite vote of the Excel and New Plan stockholders. Excel Realty Trust is a San Diego-based real estate investment trust (REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). ) that currently owns and manages 148 properties comprising approximately 15.8 million square feet of gross leasable area Gross leasable area (GLA) in the retail development industry is a term applied to shopping malls, lifestyle centers, outlet malls and other retail centers to indicate the amount of floor space available to be rented. in 28 states.
CONTACT: Excel Realty Trust Inc.
Graham R. Bullick, 619/485-9400 ext. 203
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