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CROWN AMERICAN REALTY TRUST DECLARES INITIAL QUARTERLY DIVIDEND

 JOHNSTOWN, Pa., Oct. 25 /PRNewswire/ -- The board of trustees of Crown American Realty Trust (NYSE: CWN) today declared an initial quarterly dividend of $.175 per share.
 The dividend is payable Nov. 22, 1993, to shareholders of record on Nov. 5, 1993. This initial dividend represents the period of time from the date of the company's formation (Aug. 17, 1993) to Sept. 30, 1993. The dividend of $.175 per share would be equivalent to $1.40 per share on an annualized basis.
 Crown American Realty Trust, a real estate investment trust, is the managing general partner of Crown American Properties, L.P., which owns, acquires, operates and develops regional shopping malls in Pennsylvania, Maryland, West Virginia, Virginia, New Jersey, Tennessee and Georgia. The current portfolio includes 23 regional shopping malls.
 /delval/
 -0- 10/25/93
 /CONTACT: Frank Pasquerilla, chairman and CEO of Crown American, 814-535-9437/
 (CWN)


CO: Crown American Realty Trust; Crown American Properties, L.P. ST: Pennsylvania IN: SU: DIV

CD-KC -- PG008 -- 6244 10/25/93 11:03 EDT
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Publication:PR Newswire
Date:Oct 25, 1993
Words:169
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