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LINCOLN N.C. REALTY TENDER OFFER

 PALO ALTO, Calif., June 25 /PRNewswire/ -- Schnitzer Trust Partners (Portland, Ore.) and Martin Trust Partners (San Francisco) were informed by the Depositary in connection with their tender offer for up to 1,307,119, or 66.5 percent, of the common shares of Lincoln N.C. Realty Fund Inc. (AMEX: LRF), that 1,600,015 shares were tendered and not withdrawn prior to the expiration of the tender offer, 316,328 of which shares were tendered pending receipt of guaranteed delivery.
 Upon the closing of the tender offer, which is expected to occur on July 2, 1993, Schnitzer and Martin will purchase 1,307,119 of the tendered shares on a pro rata basis, according to the number of shares tendered by each shareholder.
 The tender offer expired at midnight EDT, on June 24, 1993.
 The tender offer had been conditioned on at least 1,179,356 shares having been tendered and not withdrawn prior to the expiration time. As of the expiration time, there were 1,965,593 Lincoln shares outstanding.
 Lincoln is a real estate investment trust founded in 1985 and headquartered in Palo Alto, and has owned a diverse portfolio of properties in the Western United States. Lincoln currently owns only one industrial property, which is being offered for sale.
 -0- 6/25/93
 /CONTACT: Tom Zelenka of Schnitzer Trust Partners, 503-224-9900; or Dan Siri of Martin Trust Partners, 415-772-5900; or Bill Garlock of Lincoln N.C. Realty Fund, 415-323-4426/
 (LRF)


CO: Lincoln N.C. Realty Fund Inc.; Schnitzer Trust Partners; Martin
 Trust Partners ST: California IN: SU:


TB-SG -- SJ002 -- 5962 06/25/93 21:00 EDT
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Publication:PR Newswire
Date:Jun 25, 1993
Words:270
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