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CRI LIQUIDATING REIT AMENDS REGISTRATION STATEMENT

 ROCKVILLE, Md., Oct. 1 /PRNewswire/ -- CRI Liquidating REIT, Inc. (NYSE: CFR), has filed an amended registration statement with the Securities and Exchange Commission (SEC) in connection with the sale of a portion of the Liquidating REIT's common stock by the company's largest and controlling shareholder, CRIIMI MAE Inc. (NYSE: CMM).
 Under the terms of a Registration Rights Agreement between the two companies, CRIIMI MAE is paying the fees and expenses of registering and selling the shares. The Liquidating REIT will receive none of the proceeds from the sale of shares.
 CRIIMI MAE has issued a separate news release on this plan.
 The underwriters for the stock sale will be Merrill Lynch & Co. and Dean Witter Reynolds Inc.
 The liquidating REIT's current number of shares issued and outstanding is 30,422,711 and that number will not change as a result of this transaction.
 The registration statement has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not


constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state.
 -0- 10/1/93
 /CONTACT: James T. Pastore, 301-231-0323, or Susan B. Railey, 301-468-3120, both for CRI Liquidating REIT/
 (CFR CMM)


CO: CRI Liquidating REIT, Inc.; CRIIMI MAE Inc. ST: Maryland IN: FIN SU:

DT-DC -- DC012 -- 7726 10/01/93 10:48 EDT
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Publication:PR Newswire
Date:Oct 1, 1993
Words:268
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