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AMERICAN INDUSTRIAL PROPERTIES REIT DECLARES SECOND QUARTER DISTRIBUTION AND SETS NEW ANNUAL MEETING DATE

 DALLAS, July 22 /PRNewswire/ -- At a Trust Manager's Meeting held Wednesday, July 21, American Industrial Properties REIT (NYSE: TCR), formerly known as Trammell Crow Real Estate Investors (the "Trust"), declared a quarterly cash distribution for the second quarter of 1993 of $.04 per share, payable August 16, 1993 to shareholders of record as of August 5, 1993.
 Also, a new record date of July 19, 1993 was set for shareholders entitled to vote at the Annual Meeting to be held Tuesday, August 31, 1993 at 9:00 a.m. in Dallas, Texas.
 At the meeting, shareholders will be asked to elect three Trust Managers and ratify the appointment of Kenneth Leventhal & Company as independent auditors for 1993. Further, shareholders will be asked to approve a series of proposals which, if approved, will significantly affect the Trust. These proposals include removal of the Trust's limited term restriction to make the life of the Trust perpetual, changing the legal name of the Trust to "American Industrial Properties REIT" to better reflect the nature of the Trust's properties and the future direction of the Trust's activities, and changing the Trust's principal office and place of business to 6220 N. Beltline, Irving, Texas 75063, a property owned by the Trust. The shareholders will also be asked to approve other proposals to reflect the Trust's newly internalized management.
 American Industrial Properties REIT is a self-managed equity real estate investment trust which has acquired, managed and improved industrial and other commercial properties since 1985. The Trust owns and operates 13 industrial properties and one retail shopping mall.
 -0- 7/22/93
 /CONTACT: Terry L. Proveaux of American Industrial Properties REIT, 214-550-6053/
 (TCR)


CO: American Industrial Properties REIT ST: Texas IN: SU: DIV

TM-MG -- NY111 -- 4852 07/22/93 18:20 EDT
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Publication:PR Newswire
Date:Jul 22, 1993
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