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PROPERTY TRUST OF AMERICA ANNOUNCES RIGHTS OFFERING

 PROPERTY TRUST OF AMERICA ANNOUNCES RIGHTS OFFERING
 EL PASO, Texas, Sept. 4 /PRNewswire/ -- Property Trust of America


(NYSE: PTR) announced today that its board of trustees has approved making a rights offering to its shareholders, subject to the effectiveness of a registration statement. The rights will be distributed as a dividend, at no cost, to each holder of PTR shares as of the close of business on Sept. 24, 1992 (or any later date on which the registration statement becomes effective). Six rights will entitle the holder thereof to purchase one PTR Share. The rights offering will be made only by means of a prospectus filed with, and declared effective by, the Securities and Exchange Commission. The subscription price will be set forth in the prospectus. The rights are expected to be issued on Sept. 29, 1992 and will expire approximately 30 days after issuance.
 PTR also announced that it will file a shelf registration statement relating to a proposed public offering on a delayed or continuous basis for an additional 4,200,000 shares. The planned offering will be made only by means of a prospectus. No shares may be sold or offers to buy be accepted prior to the time the registration statement to be filed with the Securities and Exchange Commission becomes effective.
 This press release 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.
 -0- 9/4/92
 /CONTACT: James H. Polk III, or Jeffrey A. Cozad, both of Southwest Multifamily Advisors Incorporated, 800-982-9293/
 (PTR) CO: Property Trust of America ST: Texas IN: SU: OFR


LD -- NY058 -- 7100 09/04/92 16:54 EDT
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Publication:PR Newswire
Date:Sep 4, 1992
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