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MGI PROPERTIES FILES REGISTRATION FOR STOCK OFFERING

 BOSTON, March 16 /PRNewswire/ -- MGI Properties, ("MGI") (NYSE: MGI), an equity real estate investment trust, today filed with the Securities and Exchange Commission a registration statement relating to the Trust's planned offering to the public of 2.5 million of its common shares.
 Oppenheimer & Co., Inc. and Prudential Securities Incorporated will manage the offering.
 Organized in 1971, MGI Properties is a self-administered equity real estate investment trust which acquires, owns and operates a portfolio of income producing real estate, including multi-family residential and commercial properties.
 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 announcement 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.
 Copies of the prospectus relating to the offering may be obtained from Oppenheimer & Co., Inc., Oppenheimer Tower, World Financial Center, New York, N.Y., 10281.
 -0- 3/16/93
 /CONTACT: Phillip C. Vitali, executive vice president and treasurer, 617-330-5335, of MGI Properties/


CO: MGI Properties ST: Massachusetts IN: SU:

SJ -- NE013 -- 6759 03/16/93 17:03 EST
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Publication:PR Newswire
Date:Mar 16, 1993
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