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MORTGAGE AND REALTY TRUST ISSUES ANNOUNCEMENT

 ELKINS PARK, Pa., Sept. 23 /PRNewswire/ -- Mortgage and Realty Trust (NYSE: MRT) announced today that the standstill arrangement with its creditors (which expired on Sept. 16, 1993) has been extended conditionally to Sept. 30, 1993.
 Negotiations between the Trust and its Creditors' Committee continue in an effort to implement a consensual restructuring of the Trust's debt obligations.
 The New York Stock Exchange (NYSE) has informed the Trust that it presently falls below certain continued listing criteria. The NYSE further indicated that it will review the appropriateness of the Trust's continued listing. It is the Trust's intention that its contemplated restructuring will permit the Trust to satisfy the NYSE's criteria for listing of the Trust's common shares. The Trust said it believes that although such continued listing will be available after consummation of the restructuring, there can be no assurance that the restructuring will be timely effected or that if effected the Trust's common shares will continue to be listed on the NYSE or any other securities exchange.
 /delval/
 -0- 9/23/93
 /CONTACT: Daniel F. Hennessey, treasurer, of Mortgage and Realty Trust, 215-881-1525/
 (MRT)


CO: Mortgage and Realty Trust; New York Stock Exchange ST: Pennsylvania, New York IN: FIN SU:

CC -- PH037 -- 5393 09/23/93 16:59 EDT
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Publication:PR Newswire
Date:Sep 23, 1993
Words:209
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