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EASTGROUP PROPERTIES TO LIQUIDATE INVESTMENT IN NORTH SHORE BUSINESS PARK

 JACKSON, Miss., Dec. 15 /PRNewswire/ -- EastGroup Properties (AMEX: EGP) announced today that it has decided to liquidate its investment in its North Shore Business Park land through a public auction.
 The auction is scheduled for early April and will be preceded by an intense marketing program and sales effort. In conjunction with this decision, the Trust plans to writedown its investment in the North Shore land. The specific amount of the writedown has not been determined but will be recorded in the fourth quarter of 1992.
 -0- 12/15/92
 /CONTACT: N. Keith McKey of EastGroup Properties, 601-948-4091/
 (EGP)


CO: EastGroup Properties ST: Mississippi IN: SU:

RA-BN -- AT009 -- 7182 12/15/92 12:06 EST
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Publication:PR Newswire
Date:Dec 16, 1992
Words:115
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