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CRIIMI MAE DECLARES HIGHER DIVIDEND;ANNOUNCES MAY 11, 1993, ANNUAL MEETING

 ROCKVILLE, Md., March 9 /PRNewswire/ -- CRI Insured Mortgage Association, Inc. (CRIIMI MAE) (NYSE: CMM), announced today that the board of directors declared the first quarter 1993 dividend in the amount of 28 cents per share. CRIIMI MAE had paid dividends of 27 cents per share for each of the 12 previous quarters.
 The current 28 cents per share dividend will be paid on March 31, 1993, to shareholders of record on March 19, 1993. CRIIMI MAE stock will begin trading ex-dividend on March 15, 1993.
 CRIIMI MAE, with consolidated assets of approximately $527 million as of Dec. 31, 1992, is the largest multifamily mortgage REIT. CRIIMI MAE's adviser is an affiliate of CRI, Inc., the real estate investment firm based in the Washington area.
 CRIIMI MAE also said its annual meeting of shareholders will be held on May 11, 1993, 11 a.m., at the Holiday Inn Crowne Plaza in Rockville. All shareholders of record as of March 23, 1993, will be entitled to vote at the annual meeting.
 -0- 3/9/93
 /CONTACT: James T. Pastore, 301-231-0323, or Susan B. Railey, 301-468-9200, both for CRIIMI MAE/
 (CMM)


CO: CRI Insured Mortgage Association, Inc. ST: Maryland IN: FIN SU: DIV

DC-TW -- DC009 -- 4462 03/09/93 10:46 EST
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Publication:PR Newswire
Date:Mar 9, 1993
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