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MELLON PARTICIPATING MORTGAGE TRUST DECLARES FOURTH QUARTER DIVIDEND OF $.09 PER SHARE

 /NOTE TO EDITORS: Mellon/McMahan Real Estate Advisors, Inc., a subsidiary of Mellon Bank Corporation (NYSE: MEL), is the Trust's advisory. The Trust's


assets are not assets of Mellon Bank Corporation and the Trust's financial results are not included in the financial results of Mellon Bank Corporation./
 SAN FRANCISCO, Jan. 13 /PRNewswire/ -- Mellon Participating Mortgage Trust, Commercial Properties Series 85/10 (the "Trust") (NASDAQ: MPMTS), today announced a fourth quarter dividend of $.09 per share for the quarter ended Dec. 31, 1993. The dividend is payable Feb. 16, 1994, to shareholders of record at the close of business on Jan. 31, 1994.
 For calendar year 1993, the Trust declared cash dividends totaling $.51 per share. This compares with cash dividends of $.57 per share declared during 1992, of which approximately $.30 per share represented return-of-capital. Unlike 1992, however, all of the 1993 dividends represented ordinary income.
 The Trust pays quarterly cash dividends to shareholders that total at least 95 percent of its annual taxable income, which enables the Trust to qualify as a real estate investment trust. Consistent with prior years, the Trust intends to distribute approximately 85 percent of its total 1994 taxable income during the first three quarters. Accordingly, the fourth quarter dividend for 1994 operations, to be declared in January 1995, may again be less than the preceding three quarters.
 The Trust, which is finite-life, intends to make no further real estate investments, but will distribute to shareholders the net proceeds of each liquidating transaction, subject to any reserve requirements.
 Mellon Participating Mortgage Trust, Commercial Properties Series 85/10, is a finite-life real estate investment trust, fully invested in participating, shared appreciation, convertible and fixed-rate mortgages and joint venture financing secured by retail, industrial and office/warehouse facilities located throughout the United States.
 /delval/
 -0- 1/13/94
 /CONTACT: Brian Zywiciel of Mellon/McMahan Real Estate Advisors, 415-433-7770/
 (MEL MPMT)


CO: Mellon/McMahan Real Estate Advisors, Inc.; Mellon Bank Corporation;
 Mellon Participating Mortgage Trust ST: California, Pennsylvania IN: FIN SU: DIV


KC -- PG014 -- 1885 01/13/94 16:27 EST
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Publication:PR Newswire
Date:Jan 13, 1994
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