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ANGELES PARTICIPATING MORTGAGE TRUST ANNOUNCES CASH DISTRIBUTION OF $14.50 PER CLASS A SHARE

 LOS ANGELES, Nov. 9 /PRNewswire/ -- Angeles Participating Mortgage Trust (AMEX: APT) announced a $14.50 per Class A share distribution ($36,975,000 in total) to shareholders of record on Thursday, Nov. 18, 1993, payable Friday, Dec. 3, 1993. Total number of outstanding Class A shares is 2,550,000. The 1,275,000 outstanding shares of Class B stock will receive approximately $.29 per share (approximately $373,000 in total). APT previously announced its receipt of $26.1 million in cash from the sale of its mortgage portfolio on Nov. 3, 1993. Total cash currently held by the Trust approximates $40 million.
 The Trust will continue to explore strategic alternatives with third parties who might have an interest in acquiring an interest in the remaining Trust after the currently announced shareholder distribution. In an effort to obtain further value for the Trust shareholders and to provide for minimal operating costs, liabilities and claims the Trust will retain approximately $2.5 million in cash after the announced shareholder distribution. The Trust will retain no other assets and its shareholder equity will approximate the amount of remaining cash. The Trust is not expected to have further cash distributions, if any, to shareholders until after 1994.
 Although APT is traded on the American Stock Exchange ("AMEX"), continued listing of the shares after the payment date is being evaluated by AMEX, and there can be no assurance that the listing ?be continued.
 -0- 11/9/93
 /CONTACT: Ann Merguerian, 310-772-0147/
 (APT)


CO: Angeles Participating Mortgage Trust ST: California IN: SU:

MF-JB -- LA020 -- 3686 11/09/93 12:14 EST
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Publication:PR Newswire
Date:Nov 9, 1993
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