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MERRY LAND COMPLETES COMMON STOCK OFFERING

 MERRY LAND COMPLETES COMMON STOCK OFFERING
 AUGUSTA, Ga., Aug. 20 /PRNewswire/ -- Peter S. Knox III, chairman of


the board of Merry Land & Investment Company, Inc. (NYSE: MRY), announced that the company has completed a public stock offering which was underwritten by Alex. Brown & Sons Incorporated and Interstate/Johnson Lane Corporation.
 A total of 2,834,700 shares were sold at $10.125 per share, yielding net proceeds of $27 million. Of that amount, $25 million has been invested in three apartment communities totaling 890 units located in Atlanta. Merry Land intends to use the remainder of the proceeds, plus other available funds, to continue acquiring apartment communities in the Southeast.
 Merry Land is a real estate investment trust headquartered in Augusta, Ga., which owns and operates apartment communities in the South Atlantic region of the United States.
 -0- 8/20/92
 /CONTACT: Tennent Houston, president of Merry Land, 706-722-6756/
 (MRY) CO: Merry Land & Investment Company, Inc. ST: Georgia IN: SU: OFR


BN-BR -- AT015 -- 1766 08/20/92 14:12 EDT
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Publication:PR Newswire
Date:Aug 20, 1992
Words:170
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