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ICM PROPERTY INVESTORS INCORPORATED ANNOUNCES EXTENSION OF PURCHASE AND SALE AGREEMENT OF UNIVERSITY TOWER

 LAFAYETTE, Calif., Nov. 16 ~PRNewswire~ -- ICM Property Investors Incorporated (NYSE: ICM) announced today that the company and the purchaser of University Tower, Irvine, California, have agreed to extend the purchase and sale agreement, scheduled to expire Nov. 13, 1992, to Dec. 31, 1992. The purchaser has expressed an interest in leasing as much as twenty percent of the rentable space in this building should the sale not close.
 On Oct. 12, 1992, Mr. Bedford was hospitalized for a heart problem. His recuperation has been excellent and he is expected to make a full recovery. In fact, Mr. Bedford has returned to work as of the date of this report.
 ICM Property Investors is a real estate investment trust with investments in suburban office buildings and industrial properties.
 -0- 11~16~92
 ~CONTACT: Howard Shapiro, executive vice president, treasurer & secretary of ICM Property Investors, 510-283-8910~
 (ICM)


CO: ICM Property Investors Incorporated ST: California IN: FIN SU:

TM -- NY135 -- 1587 11~16~92 19:59 EST
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Publication:PR Newswire
Date:Nov 16, 1992
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