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FIRST UNION ANNOUNCES FOURTH QUARTER DIVIDEND OF 1991

 FIRST UNION ANNOUNCES FOURTH QUARTER DIVIDEND OF 1991
 CLEVELAND, Dec. 4 /PRNewswire/ -- First Union Real Estate


Investments (NYSE: FUR) today announced that its board of trustees declared an $0.18 per share dividend for the fourth quarter of 1991. The dividend will be paid Feb. 3, 1992, to shareholders of record Jan. 2, 1992.
 Donald S. Schofield, chairman, president and chief executive officer, stated, "Because of the continuing liquidity crisis in the commercial real estate industry, the trustees decided to declare the projected minimum amount which the trust can distribute and still meet its distribution requirements as a real estate investment trust under the Internal Revenue Code."
 First Union Real Estate Investments is a self-administered equity real estate investment trust specializing in the ownership of regional shopping malls, downtown office buildings and multi-family complexes located throughout the United States. The trust's shares are traded on the New York Stock Exchange, providing shareholders the opportunity to participate in real estate ownership while maintaining investment liquidity.
 -0- 12/4/91
 /CONTACT: Thomas T. Kmiecik of First Union Real Estate Investments, 216-781-4030/
 (FUR) CO: First Union Real Estate Investments ST: Ohio IN: FIN SU: DIV


KK -- CL007 -- 9217 12/04/91 12:45 EST
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Publication:PR Newswire
Date:Dec 4, 1991
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