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MORTGAGE AND REALTY TRUST ISSUES ANNOUNCEMENT

 ELKINS PARK, Pa., July 1 /PRNewswire/ -- Mortgage and Realty Trust (NYSE: MRT) announced today that due to continued illiquidity in the marketplace it did not have sufficient funds to meet its $20 million required principal payment due June 30, 1993.
 The Trust did, however, pay all of the interest and fees due June 30, 1993, on its outstanding debt.
 Negotiations between the Trust and its Creditors' Committee continue in an effort to reach a consensual restructuring of the Trust's debt obligations. The company and its Creditors' Committee have agreed upon an appropriate standstill to allow for finalizing such restructuring.
 /delval/
 -0- 7/1/93
 /CONTACT: Daniel F. Hennessey, treasurer of Mortgage and Realty Trust, 215-881-1525/
 (MRT)


CO: Mortgage and Realty Trust ST: Pennsylvania IN: FIN SU:

MK-JM -- PH008 -- 7596 07/01/93 09:59 EDT
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Publication:PR Newswire
Date:Jul 1, 1993
Words:135
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