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L&N HOUSING CORP. ANNOUNCES APPROVAL OF MANAGEMENT AGREEMENT

 L&N HOUSING CORP. ANNOUNCES APPROVAL OF MANAGEMENT AGREEMENT
 DALLAS, April 22 /PRNewswire/ -- L&N Housing Corp. (NYSE: LHC) announced today that its shareholders approved the assignment of its management agreement with L&N Housing Managers, Inc. to LNH REIT Managers, a partnership which is an affiliate of EastGroup Properties, an American Stock Exchange listed REIT based in Jackson, Miss., and Walker Investments, L.P., a Mississippi limited partnership. The shareholders also elected a slate of seven directors designated by EastGroup and Walker, approved the change of the company's name to LNH REIT, Inc., and ratified the selection of Ernst & Young as the company's independent auditors. The new board of directors consists of H. C. Bailey, Jr., James H. Daughdrill III, Ted Enloe, George R. Farish, Leander W. Jennings, Goodhue W. Smith III, and Leland R. Speed. The company's principal executive offices will be moved to EastGroup's office in Jackson, Miss.
 -0- 4/22/92
 /CONTACT: O. B. Walton III of L&N Housing, 601-948-4091/
 (LHC) CO: L&N Housing Corp.; LNH REIT, Inc. ST: Texas, Mississippi IN: SU:


KD -- NY070 -- 1341 04/22/92 13:44 EDT
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Publication:PR Newswire
Date:Apr 22, 1992
Words:188
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