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MERRY LAND & INVESTMENT COMPANY COMMENTS ON REPORTS OF STOCK PURCHASE

MERRY LAND & INVESTMENT COMPANY COMMENTS ON REPORTS OF STOCK PURCHASE
 AUGUSTA, Ga., Oct. 22 /PRNewswire/ -- The following was released today by Merry Land & Investment Company, Inc. (NYSE: MRY):
 Recent press reports in the Wall Street Journal and other newspapers have indicated that Tennent Houston, who is president and chief operating officer (not chairman) of Merry Land & Investment Company, Inc., has purchased 25,000 shares of company stock for $268,750. While this is accurate, the company and Houston wish to point out that Houston's acquisition is a part of an executive benefit plan. Under the terms of the plan, certain company executives, including Houston, have acquired company stock in exchange for non-interest-bearing, non- recourse notes. The notes are secured by the shares purchased.
 -0- 10/22/92
 /CONTACT: Tennent Houston, president of Merry Land & Investment Company, 706-722-6756/
 (MRY) CO: Merry Land & Investment Company, Inc. ST: Georgia IN: SU:


EA-BR -- AT011 -- 3646 10/22/92 13:03 EDT
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Publication:PR Newswire
Date:Oct 22, 1992
Words:157
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