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BURNHAM PACIFIC PROPERTIES' SHAREHOLDERS OK MERGER

 BURNHAM PACIFIC PROPERTIES' SHAREHOLDERS OK MERGER
 SAN DIEGO, Jan. 28 /PRNewswire/ -- Shareholders of Burnham Pacific


Properties Inc. (NYSE: BPP) -- a San Diego-based equity real estate investment trust (REIT) -- at a special meeting today (Jan. 27) approved by a 98 percent margin, a merger agreement in which Burnham Investment Group Inc. -- a John Burnham & Company subsidiary and advisor to BPP -- will be merged into BPP.
 The merger cancels the advisory contract between the companies and formally separates management of the firms through an exchange of stock, allowing BPP to become a self-administered REIT.
 Founded in 1963 as one of the nation's first public limited partnerships, BPP converted to REIT status in 1987 and presently owns and manages 19 commercial real estate properties in San Diego, Orange and Los Angeles counties.
 -0- 1/28/92 R
 /CONTACT: Louis J. Garday, 619-525-2620, or Bill Gabriel, 619-525-2642, both of Burnham Pacific/
 (BPP) CO: Burnham Pacific Properties Inc. ST: California IN: FIN SU:


CH-EH -- SD001 -- 4131 01/28/92 10:13 EST
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Publication:PR Newswire
Date:Jan 28, 1992
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