Property Resources Equity Trust Enters Liquidation Phase.

SAN MATEO, Calif.--(BUSINESS WIRE)--Oct. 2, 1997--Property Resources Equity Trust (PRET) announced today that it has entered its liquidation phase.

PRET is a finite-life real estate investment trust externally advised by Property Resources Inc. PRET's shares are not listed for trading on any stock exchange. As part of its liquidation, the remaining assets of PRET are to be sold and the net proceeds distributed to shareholders. The remaining assets in PRET are a 34,000-square-foot shopping center located in Santa Rosa, Calif., a note receivable secured by an office building in Phoenix and cash reserves.

As an alternative to liquidation, PRET will also consider offers to purchase all its shares. Individuals interested in purchasing the assets or shares of PRET should contact David Popelka at 650/312-5789. Any inquiries from interested parties should be received by Oct. 15, 1997.

Property Resources Inc. is a wholly owned subsidiary of Franklin Resources Inc. (NYSE:BEN), whose primary business is the Franklin Templeton Group with over $208 billion in assets under management and over 5 million shareholder and institutional accounts. Franklin's headquarters is located at 777 Mariners Island Boulevard, San Mateo, Calif.

CONTACT: Property Resources Inc., San Mateo

David Popelka, 650/312-5789