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SIZELER PROPERTY INVESTORS, INC. FILES FOR OFFERING OF NEW CAPITAL

 KENNER, La., March 19 /PRNewswire/ -- Sizeler Property Investors, Inc. (NYSE: SIZ), an equity real estate investment trust (REIT), announced today that it has filed with the Securities and Exchange Commission a registration statement for a proposed offering of up to 4 million shares of the company's common stock and a minimum of $25 million and a maximum of $50 million of Convertible Subordinated Debentures.
 National Westminster Bank PLC - Capital Markets Branch has been retained to act as agent for the company in connection with the offering.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold and no investor funds will be accepted prior to effectiveness of the registration statement. Copies of the preliminary prospectus may be obtained from National Westminster Bank PLC - Capital Markets Branch, 100 Wall Street, New York, NY 10005. This 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 applicable securities laws of any such state.
 The company expects to apply the net proceeds of the offering towards the purchase of certain properties described in the registration statement, for repayment of bank debt, and for general corporate purposes, including potential future property acquisitions.
 The company invests in income-producing shopping center and apartment properties in the southern United States. At Dec. 31, 1992, the company's real estate properties consisted of two enclosed shopping malls, one "power" shopping center (a large community shopping center, anchored by market-dominant retail merchants), 10 community shopping centers, and seven apartment complexes. The properties are located in Louisiana (14), Florida (3), Alabama (2), and Texas (1). Leasable area of the retail properties totals approximately 1.9 million s.f., and apartments units total 1,138.
 Sizeler Property Investors, Inc.'s common stock (SIZ) is traded on the New York Stock Exchange.
 -0- 3/19/93
 /CONTACT: John J. Gilluly Jr., vice president/treasurer of Sizeler Property Investors, 504-466-5363, or, home, 504-833-4773/
 (SIZ)


CO: Sizeler Property Investors, Inc.; National Westminster Bank PLC -
 Capital Markets Branch ST: Louisiana IN: SU: OFR


RA-BN -- AT012 -- 8052 03/19/93 17:03 EST
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Publication:PR Newswire
Date:Mar 19, 1993
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