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MELLON PARTICIPATING MORTGAGE TRUST DECLARES FOURTH QUARTER DIVIDEND

 SAN FRANCISCO, Jan. 14 /PRNewswire/ -- The Trustees of Mellon Participating Mortgage Trust, Commercial Properties Series 85/10 (NASDAQ: MPMTS), today announced a fourth quarter dividend of $0.09 per share for the quarter ended Dec. 31, 1992.
 This dividend, which is equal to the 1991 fourth quarter dividend, is payable Feb. 16, 1993, to shareholders of record at close of business on Jan. 29, 1993.
 The trust pays quarterly cash dividends to shareholders that will total at least 95 percent of its annual taxable income, which enables the trust to qualify as a real estate investment trust. For calendar year 1992, the trust declared cash dividends of $0.57 per share. A portion of the 1992 dividends, however, will be classified as a return-of-capital and reported to shareholders along with their 1099-DIV.
 Mellon Participating Mortgage Trust is a fully invested finite-life real estate investment trust. The trust intends to make no additional real estate investments. In addition to dividends from income, the trust will distribute to shareholders the net proceeds of each liquidating transaction, subject to any reserve requirements.
 -0- 1/14/93
 /EDITORS: Mellon/McMahan Real Estate Advisors, Inc., a wholly owned subsidiary of Mellon Bank, N.A., acts as the investment advisor to Mellon Participating Mortgage Trust. The trust's assets are not assets of Mellon Bank Corporation (NYSE: MEL) and the trust's financial results are not included in the financial results of Mellon Bank Corporation./
 /CONTACT: Brian Zywiciel of Mellon/McMahan Real Estate Advisors, Inc., 415-433-7770/
 (MPMT MEL)


CO: Mellon Participating Mortgage Trust; Mellon Bank Corporation ST: Pennsylvania; California IN: FIN SU: DIV

CD -- PG001 -- 5021 01/14/93 16:06 EST
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Date:Jan 14, 1993
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