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MORTGAGE AND REALTY TRUST ANNOUNCES

 ELKINS PARK, Pa., Dec. 7 /PRNewswire/ -- Mortgage and Realty Trust (NYSE: MRT) announced today that the standstill agreement with the principal holders of its Senior Secured Uncertificated Notes due 1995 expired on Dec. 3, 1993.
 At the present time, it appears unlikely that a further extension of the standstill will be granted. MRT intends, therefore, to continue to operate its business and seek Secured Note holder consent on an ad hoc basis as such consent is required. Although MRT believes that such consents, if requested, would be in the best interest of MRT, its shareholders and the Secured Note holders, there can be no assurance that MRT will obtain sufficient consents as they are required. If it becomes impossible for MRT to continue operations under such circumstances, it may be necessary for MRT to explore other alternatives, including seeking relief under Chapter 11.
 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- 12/7/93
 /CONTACT: Daniel F. Hennessey, treasurer of Mortgage and Realty Trust, 215-881-1525/
 (MRT)


CO: Mortgage and Realty Trust ST: Pennsylvania IN: FIN SU:

MK-JM -- PH006 -- 1236 12/07/93 11:14 EST
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Publication:PR Newswire
Date:Dec 7, 1993
Words:212
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