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IRT PROPERTY COMPANY FILES REGISTRATION STATEMENTS WITH SEC

 ATLANTA, July 30 /PRNewswire/ -- IRT Property Company (NYSE: IRT) said it filed registration statements with the Securities and Exchange Commission for (a) a proposed offering of 4 million shares of common stock of which 3,600,000 shares are being offered by the company and 400,000 shares by the Selling Shareholders, and (b) a proposed offering of $75 million principal amount of convertible subordinated debentures due 2003.
 The offerings are expected in late August and are being co-managed by Merrill Lynch & Co., Alex. Brown & Sons Incorporated and A.G. Edwards & Sons, Inc. IRT will have approximately 24.7 million shares of common stock outstanding following the offering.
 The company said proceeds will be used to purchase neighborhood and community shopping centers primarily in the Southeast, to renovate or expand presently owned properties and to retire debt.
 A self-administered equity real estate investment trust (REIT), IRT is the largest REIT specializing in southeastern United States shopping centers. Anchor tenants include Wal-Mart, Kmart, and Harris Teeter, Publix and Kroger supermarkets. The portfolio of 68 shopping center investments represents approximately 6.8 million square feet of retail space.
 Registration statements relating to these securities have been filed with the Securities and Exchange Commission but have not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statements become 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 sale would be unlawful prior to registration or qualification under the securities laws of any such state. Written prospectuses meeting the requirements of Section 10 of the Securities Act of 1933 may be obtained from IRT Property Company, 200 Galleria Parkway, Suite 1400, Atlanta, GA 30339.
 -0- 7/30/93
 /CONTACT: Donald W. MacLeod, chairman and president of IRT Property Company, 404-955-4406/
 (IRT)


CO: IRT Property Company ST: Georgia IN: SU: OFR

BR-RA -- AT013 -- 7919 07/30/93 16:34 EDT
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Publication:PR Newswire
Date:Jul 30, 1993
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