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ROUSE COMPANY DIRECTORS APPROVE INCREASE IN QUARTERLY COMMON STOCK CASH DIVIDEND

 COLUMBIA, Md., Sept. 23 /PRNewswire/ -- The Rouse Company (NASDAQ-NMS: ROUS), of Columbia, announced that at a meeting today the company's board of directors approved an increase in the quarterly common stock cash dividend from $.15 per share to $.17 per share. The dividend will be payable on Dec. 17, 1993, to shareholders of record on Dec. 13, 1993.
 Chairman of the Board and Chief Executive Officer Mathias J. DeVito stated, "We began paying a cash dividend in 1978, and once each year we increased the rate for 12 consecutive years. Over the past couple of years, however, the real estate and retail industries have suffered through many difficulties. And, while the Rouse Company performed well in these distressed times, circumstances did not justify increasing the cash dividend payout -- although the rate was never reduced. It is clear that the Rouse Company is having an exceptionally strong year in 1993, much better than had been anticipated. In addition, prospects for 1994 appear to be excellent. For these reasons, the board has decided it is appropriate for shareholders to share in this strong performance, and has taken the unprecedented step of increasing the quarterly dividend rate during the year. It is our intention now to return to the normal dividend consideration cycle, whereby the rate is reviewed and approved on a quarterly basis but normally only changed at the first board of directors' meeting of each new year. In other words, it is expected that no further change in the quarterly rate will be effected until early in 1995."
 -0- 9/23/93
 /CONTACT: David L. Tripp, vice president and director-investor relations of Rouse Company, 410-992-6546/
 (ROUS)


CO: The Rouse Company ST: Maryland IN: SU: DIV

CK-OS -- NY039 -- 5215 09/23/93 12:39 EDT
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Publication:PR Newswire
Date:Sep 23, 1993
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