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MERRY LAND FILES COMMON STOCK OFFERING

 AUGUSTA, Ga., Oct. 13 /PRNewswire/ -- Peter S. Knox III, chairman of the board of Merry Land & Investment Company, Inc. (NYSE: MRY), announced today that the company filed a registration statement with the Securities and Exchange Commission for a proposed offering of 5.3 million shares of Common Stock to be underwritten by Alex. Brown & Sons Incorporated, A.G. Edwards & Sons, Inc., Kidder Peabody & Co. Incorporated and Interstate/Johnson Lane Corporation.
 The offering is expected to commence in November.
 The proceeds of the offering will be used to repay debt incurred to purchase apartment communities in the South Atlantic region of the United States and to purchase additional apartment communities.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. A prospectus for the offering may be obtained from Merry Land & Investment Company, Inc., P.O. Box 1417, Augusta, GA 30903.
 Merry Land is a real estate investment trust headquartered in Augusta, Ga., which specializes in the acquisition and operation of apartment communities in the Southern region of the United States.
 -0- 10/13/93
 /CONTACT: Tennent Houston, president of Merry Land & Investment Company, Inc., 706-722-6756/
 (MRY)


CO: Merry Land & Investment Company, Inc. ST: Georgia IN: SU: OFR

CF-TG -- AT016 -- 1917 10/13/93 17:56 EDT
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Publication:PR Newswire
Date:Oct 13, 1993
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