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COLUMBIA REAL ESTATE INVESTMENTS DECLARES DIVIDEND

 COLUMBIA REAL ESTATE INVESTMENTS DECLARES DIVIDEND
 COLUMBIA, Md., Sept. 2 /PRNewswire/ -- The board of directors of


Columbia Real Estate Investments, Inc. (AMEX: CIV) today announced the declaration of a dividend of $.19 per share, payable on Sept. 30, 1992, to shareholders of record at the close of business on Sept. 16, 1992. This dividend represents the results of the company's operations for the three-month period ended Aug. 31, 1992.
 Following the meeting, David Gallitano, chairman of the board, remarked: "The declaration of this dividend underscores the soundness of management's investment policies in spite of the difficult interest rate markets experienced during the first half of the year and reflects our continued commitment to provide a maximum return to shareholders consistent with the protection of their investment."
 Columbia Real Estate Investments, Inc., is a real estate investment trust which invests in residential mortgages and other mortgage derivative products. It also has issued collateralized mortgage obligations (CMOs) through a special purpose subsidiary.
 -0- 9/2/92
 /CONTACT: Tom Ireton of Columbia Real Estate Investments, 410-964-8875/
 (CIV) CO: Columbia Real Estate Investments, Inc. ST: Maryland IN: FIN SU: DIV


GK-OS -- NY048 -- 5965 09/02/92 13:33 EDT
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Publication:PR Newswire
Date:Sep 2, 1992
Words:195
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