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KRANZCO DECLARES REGULAR QUARTERLY CASH DISTRIBUTION

 CONSHOHOCKEN, Pa., June 2 /PRNewswire/ -- The board of directors of Kranzco Realty Trust (NYSE: KRT), a real estate investment trust, today declared a regular cash distribution of 46 cents per share, payable July 15, 1993, to shareholders of record at the close of business on June 25, 1993.
 The board met following the company's first annual meeting of shareholders at which the five directors were re-elected to staggered terms ranging from one to three years, and the appointment of Arthur Andersen & Co. as independent public accountants for 1993, was ratified.
 Kranzco is a self-administered, self-managed real estate investment trust that owns and manages 3.7 million square feet of leasable space in 25 retail "strip" shopping centers in Connecticut, New Jersey, New York, Pennsylvania and Rhode Island.
 -0- 6/2/93
 /CONTACT: Norman M. Kranzdorf of Kranzco Realty Trust, 215-941-9292/
 (KRT)


CO: Kranzco Realty Trust ST: Pennsylvania IN: SU: DIV

PS-OS -- NY050 -- 4479 06/02/93 12:49 EDT
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Publication:PR Newswire
Date:Jun 2, 1993
Words:159
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