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PILGRIM PRIME RATE TRUST COMPLETES TENDER OFFER

 PILGRIM PRIME RATE TRUST COMPLETES TENDER OFFER
 LOS ANGELES, May 5 /PRNewswire/ -- Pilgrim Prime Rate Trust (the


trust) (NYSE: PPR), a closed-end fund listed on the New York Stock Exchange, announced today that the number of shares duly tendered at the expiration date of its offer to purchase 7,500,000 shares, May 1, 1992, equalled 44,251,597.045.
 The trust has determined that it will accept shares for payment on a pro rata basis. The final proration factor is .1694 (7,500,000/44,251,597.045) or 16.94 percent.
 -0- 5/5/92
 /CONTACT: Tony De Angelis of The Pilgrim Group, 310-551-5406/
 (PPR) CO: Pilgrim Prime Rate Trust; The Pilgrim Group ST: California IN: FIN SU: OFR


JK-JL -- LA041 -- 6653 05/05/92 14:32 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:May 5, 1992
Words:130
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