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AMERICAN REAL ESTATE PARTNERS, L.P. DECLARES QUARTERLY DISTRIBUTION

 MOUNT KISCO, N.Y., June 16 /PRNewswire/ -- American Real Estate Partners, L.P. (NYSE: ACP) today announced that it has declared a quarterly distribution of $0.125 per depositary unit. The distribution is payable on Aug. 13, 1993 to holders of record as of the close of business on June 30, 1993.
 The partnership also announced its intention to extend its previously announced program of purchasing its depositary units by increasing the number of authorized units for acquisition from 1,000,000 to 1,250,000. The timing of purchases and actual number of units purchased will depend on market conditions. The units, to be purchased from time to time on the open market, will be held in treasury.
 American Real Estate Partners, L.P. is a master limited partnership engaged in acquiring and managing real estate with a primary focus on office, retail and industrial properties.
 -0- 6/16/93
 /CONTACT: John P. Saldarelli, secretary and treasurer of American Real Estate Partners, L.P., 914-242-7700/
 (ACP)


CO: American Real Estate Partners, L.P. ST: New York IN: SU:

SM-WB -- NY025 -- 2543 06/16/93 10:42 EDT
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Publication:PR Newswire
Date:Jun 16, 1993
Words:188
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