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PROPERTY TRUST OF AMERICA FILES PUBLIC OFFERING OF 8,000,000 SERIES A PREFERRED SHARES OF BENEFICIAL INTEREST

 SANTA FE, N.M., Nov. 4 /PRNewswire/ -- Property Trust of America (NYSE: PTR) filed a registration statement today relating to a proposed public offering of 8,000,000 cumulative convertible Series A preferred shares of beneficial interest, liquidation preference $25.00 per share. PTR has applied to list the preferred shares on the New York Stock Exchange under the symbol "PTR-PRA."
 The proposed offering will be made only by means of a prospectus, and will be offered to the public through an underwritten offering managed by Goldman, Sachs & Co., A.G. Edwards & Sons, Inc. and Kidder Peabody & Co. Incorporated.
 The preferred shares may be converted into common shares at any time at the option of the holders of the preferred shares. The conversion rate and dividend rate will be established by the underwriters and PTR prior to sale of the Preferred Shares.
 The registration statement describing the terms of the preferred shares 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 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- 11/4/93
 /CONTACT: John Q. Collins, 800-982-9293 or Jeffrey A. Cozad, 212-838-9292, both of Security Capital Group for Property Trust of America/
 (PTR)


CO: Property Trust of America ST: New Mexico IN: FIN SU: OFR

LD -- NY115 -- 0937 11/04/93 16:38 EST
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Publication:PR Newswire
Date:Nov 4, 1993
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