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HEALTH AND REHABILITATION PROPERTIES TRUST ANNOUNCES THE EFFECTIVENESS OF PUBLIC SALE OF 9 MILLION SHARES

 NEWTON, Mass., Jan. 22 /PRNewswire/ -- Health and Rehabilitation Properties Trust (NYSE: HRP) today announced that its registration statement registering the public sale of 9 million common shares of beneficial interest has been declared effective by the Securities and Exchange Commission ("SEC").
 On Dec. 11, 1992, HRP filed a registration statement for the public sale of 7 million common shares. The offering was increased to 9 million shares on Jan. 21, 1993. In addition to the 9 million shares being offered, HRP has granted its underwriters an option to purchase an additional 1,350,000 shares to cover over-allotments, if any. All of the shares are being offered by HRP.
 The offering price is $12.75/Share, an amount equal to the closing price of HRP Shares on Thursday, Jan. 21, 1993 as reported by the New York Stock Exchange. Net proceeds of the offering will be used primarily to prepay certain indebtedness.
 The managing underwriters of this offering are Merrill Lynch & Co., World Financial Center, New York, NY 10281, Donaldson, Lufkin & Jenrette Securities Corporation, 140 Broadway, New York, NY 10005 and Smith Barney, Harris Upham & Co. Incorporated, 1345 Avenue of the Americas, New York, NY 10105.
 HRP is a real estate investment trust, headquartered in Newton, Mass., which invests in health care related real estate. At this time, HRP has investments of approximately $367 million in 61 properties located in 15 states operated by 17 separate tenants or mortgagors.
 A Registration Statement, including a Prospectus, relating to these securities has been filed with the SEC and has been declared effective. This communication shall not constitute 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 sales would be unlawful prior to registration or qualification under the securities law of any such state. Copies of the Prospectus may be obtained from the offices of the managing underwriters named above.
 -0- 1/22/93
 /CONTACT: Mark J. Finkelstein, president or David J. Hegarty, treasurer, 617-332-3990, both of HRPT/
 (HRP)


CO: Health & Rehabilitation Properties Trust ST: Massachusetts IN: SU:

TM -- NE004 -- 7787 01/22/93 09:35 EST
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Publication:PR Newswire
Date:Jan 22, 1993
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