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DeBARTOLO REALTY CORPORATION FILES REGISTRATION STATEMENT FOR INITIAL PUBLIC OFFERING OF 31,600,000 SHARES OF COMMON STOCK

 BOARDMAN, Ohio, Sept. 15 /PRNewswire/ -- DeBartolo Realty Corporation ("the Company") announced today that it has filed a registration statement for the initial public offering of 31,600,000 shares of common stock. DeBartolo Realty expects to qualify as a real estate investment trust for federal income tax purposes. Morgan Stanley & Co. Incorporated and Smith Barney Shearson Inc. will co-manage the offering.
 The Company will continue and expand the shopping mall business of The Edward J. DeBartolo Corporation. The Edward J. DeBartolo Corporation was founded by Edward J. DeBartolo in 1944 and is one of the largest operators of super-regional and regional malls in the United States. Upon completion of the offering, the Company will own interests in 51 super-regional and regional malls and seven community centers located throughout the United States.
 The net proceeds of the offering will be used to purchase a 51 percent general partnership interest in the DeBartolo Properties Partnership, L.P., a partnership through which the Company will conduct all its business activities, to repay indebtedness and purchase interest rate reductions associated with the malls included in the Company's portfolio, for various costs associated with the formation of the Company and for working capital purposes.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but 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 is not 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 such state.
 -0- 9/15/93
 /CONTACT: Marie Izzo Cartwright of The Edward J. DeBartolo Corporation, 216-758-7292/


CO: DeBartolo Realty Corporation ST: Ohio IN: CST SU: OFR

BM -- CL007 -- 2058 09/15/93 07:56 EDT
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Publication:PR Newswire
Date:Sep 15, 1993
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