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FIRST UNION ANNOUNCES RESIGNATION OF PRESIDENT

 FIRST UNION ANNOUNCES RESIGNATION OF PRESIDENT
 CLEVELAND, Oct. 27 /PRNewswire/ -- First Union Real Estate


Investments (NYSE: FUR) announced that Denny Alberts, president and chief operating officer, has resigned his position with the Trust, effective today. Alberts said he made this decision for personal and family reasons.
 Donald S. Schofield, chairman and chief executive officer of First Union, said, "The Trustees have accepted the resignation with regret, and wish Mr. Alberts well in his future endeavors."
 First Union Real Estate Investments is a self-administered equity real estate investment trust specializing in acquiring and holding real estate for current yield and long-term appreciation. Its portfolio is made up of 34 properties in 17 states, consisting of shopping malls, office buildings, and apartment complexes.
 -0- 10/27/92
 /CONTACT: Thomas T. Kmiecik, treasurer of First Union Real Estate Investments, 216-781-4030/
 (FUR) CO: First Union Real Estate Investments ST: Ohio IN: FIN SU: PER


BM -- CL015 -- 5343 10/27/92 11:21 EST
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Publication:PR Newswire
Date:Oct 27, 1992
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