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CRIIMI MAE DECLARES 30 CENTS PER SHARE FIRST QUARTER DIVIDEND; ANNOUNCES MARCH 18 RECORD DATE FOR MAY 7 ANNUAL MEETING

ROCKVILLE, Md., March 8 /PRNewswire/ -- (NYSE: CMM) The board of directors of CRIIMI MAE Inc., a commercial mortgage company structured as a real estate investment trust (REIT), declared the company's first quarter dividend in the amount of 30 cents per share. The dividend record date is March 18; the ex-dividend date is March 14; and the payment date is March 29.

The first quarter's dividend represents a 28 percent increase compared to 1995's fourth quarter dividend of 23.5 cents per share.

The dividend declared today also represents one cent per share more than the quarterly base dividend estimate of 29 cents per share announced by the company on January 29.

The board also set a March 18 record date for shareholders to vote their proxies at the May 7 Annual Meeting.

CRIIMI MAE Inc. is a full-service commercial mortgage company. By investing in mortgages and mortgage-related instruments, CRIIMI MAE provides financing for multifamily housing and other types of income- producing commercial real estate. Assets at Dec. 31, 1995 were $1.2 billion.
 -0- 3/8/96


/CONTACT: Susan B. Railey, 301-468-3120, or James T. Pastore, 202-546-6451, both for CRIIMI MAE/

(CMM)

CO: CRIIMI MAE Inc. ST: Maryland IN: FIN SU: DIV

KW -- DCF010 -- 1541 03/08/96 10:51 EST
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Publication:PR Newswire
Date:Mar 8, 1996
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