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MORTGAGE AND REALTY TRUST ANNOUNCES EXTENSION OF STANDSTILL AND CONTINUATION OF NEGOTIATIONS

 ELKINS PARK, Pa., Nov. 19 /PRNewswire/ -- Mortgage and Realty Trust (NYSE: MRT) announced today that it has received a further informal extension of its standstill agreement with the principal holders of MRT's Senior Secured Uncertificated Notes due 1995.
 The standstill was extended from Nov. 12 to Dec. 3, 1993. MRT anticipates that the standstill extension will be formally documented by Nov. 22. MRT and the principal holders of Secured Notes are continuing their negotiations regarding a restructuring of the Secured Notes.
 MRT also announced that certain holders of approximately 50 percent of MRT's Secured Notes have retained Smith Barney Shearson, Inc., as their financial advisor in the restructuring.
 MRT is a self-administered real estate investment trust with a portfolio of more than $368 million of commercial, industrial and other real estate assets. MRT has offices in Elkins Park, and Burbank, Calif.
 /delval/
 -0- 11/19/93
 /CONTACT: Daniel F. Hennessey, treasurer of Mortgage and Realty Trust, 215-881-1525/
 (MRT)


CO: Mortgage and Realty Trust; Smith Barney Shearson, Inc. ST: Pennsylvania IN: FIN SU:

JM-JO -- PH037 -- 4503 11/19/93 17:02 EST
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Publication:PR Newswire
Date:Nov 19, 1993
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