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MESABI TRUST ANNOUNCEMENT

 NEW YORK, April 19 /PRNewswire/ -- As anticipated, the Trustees of Mesabi Trust (NYSE: MSB) have determined that no distribution will be declared in April with respect to Units of Beneficial Interest of Mesabi Trust. Only a minimum royalty is received by Mesabi Trust for the first calendar quarter of each year as little or no shipments are made by Cyprus Northshore Mining, the lessee of the Trusts properties, because the Great Lakes are frozen during that period. Shipments resumed in April.
 With respect to the balance of 1994, based on information received from Cyprus to date, the Trustees currently anticipate that shipments by Cyprus will be at least the same as 1993 shipments. The actual amount of royalties received by the Trust in 1994, which would then be available for distribution, will depend on the actual amount of shipments and the price received.
 -0- 4/19/94
 /CONTACT: Dan Chipko of Bankers Trust Company, 212-250-6519/
 (MSB)


CO: Bankers Trust Company ST: New York IN: FIN SU: DIV

CB-OS -- NY082 -- 8176 04/19/94 12:43 EDT
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Publication:PR Newswire
Date:Apr 19, 1994
Words:176
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