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COMMERCIAL ASSETS REGISTRATION STATEMENT DECLARED EFFECTIVE OCTOBER 12, 1993 SET AS THE DISTRIBUTION DATE

 DENVER, Sept. 24 /PRNewswire/ -- Asset Investors Corporation (NYSE: AIC) announced today that the registration statement for Commercial Assets, Inc. has been declared effective by the Securities and Exchange Commission.
 As previously announced, Asset Investors set October 1, 1993 as the record date for the distribution of 70 percent of the shares of Commercial Assets, a wholly-owned subsidiary of Asset Investors. Asset Investors' stockholders as of October 1 will receive one share of Commercial Assets for every two shares of Asset Investors owned. Cash will be distributed in lieu of fractional shares.
 Asset Investors has set October 12 as the date for the distribution of Commercial Assets shares. Stock Certificates will be mailed on or about Oct. 12, 1993. Commercial Assets stock will be listed on the American Stock Exchange under the ticker symbol CAX.
 Asset Investors stock will continue to trade on the New York Stock Exchange under the symbol AIC. The ex-dividend date will be set by the New York Stock Exchange and is expected to be Oct. 13, 1993.
 An information statement relating to the spin-off will be distributed to Asset Investors' stockholders. If the board of directors of Asset Investors determines that the spin-off is no longer in the best interests of Asset Investors or its stockholders, Asset Investors will pay a dividend in another form by the end of the year. This is neither an offer to sell nor a solicitation of an offer to buy any securities.
 -0- 9/24/93
 /NOTE TO EDITORS: For additional information on Asset Investors Corporation by fax at no cost, Dial 1-800-PRO-INFO, Code No. 016./
 /CONTACT: Spencer I. Browne, president and CEO of Asset Investors Corporation, 303-793-2703; or Gary Strong, FRB/Chicago 312-266-7800; or Regina Ryan, FRB/New York 212-661-8030.
 (AIC)


CO: Asset Investors Corporation ST: Colorado, New York IN: FIN SU:

LD -- NY087 -- 5645 09/24/93 20:09 EDT
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Publication:PR Newswire
Date:Sep 24, 1993
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