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T. ROWE PRICE SELLS MRT RECEIVABLE

 BALTIMORE, Aug. 13 /PRNewswire/ -- T. Rowe Price Associates, Inc. (NASDAQ: TROW) today announced sale of the entire Mortgage and Realty Trust (NYSE: MRT) receivable which had been acquired in the spring of 1990 from certain of T. Rowe Price's managed portfolios.
 Prior to the sale, the company's gross claim against MRT totaled $46.5 million and was recorded on the company's books at $34.7 million. As a result of the transaction, the company received net proceeds of $34.6 million yesterday and recorded a pretax loss on the transaction of approximately $110,000. Including the proceeds of this transaction and all payments made by MRT during the holding period, T. Rowe Price has received $69.2 million compared to $64.6 million paid in conjunction with the acquisition of the MRT debt.
 Commenting on the matter, George J. Collins, president and chief executive officer of T. Rowe Price, said, "while it was possible that holding the MRT claim until maturity would result in a greater recovery, resolution of the situation was subject to considerable uncertainty. Consummation of the sale will enable us to reinvest the proceeds in the future growth of our business. Therefore, we consider the transaction an important long-term positive development for the company."
 T. Rowe Price serves as investment adviser to the T. Rowe Price family of no-load mutual funds and to institutional and individual clients. At June 30, 1993, the company had $46.6 billion of assets under management.
 -0- 08/13/93
 CONTACT: Steven E. Norwitz of T. Rowe Price Associates, 800-638-7890, ext. 2124, or 410-547-2124
 (TROW MRT) CO: T. ROWE PRICE ASSOCIATES, INC.; MORTGAGE AND REALTY
 TRUST


IN: FIN SU: TNM ST: MD

-- PH002 -- X504 08/13/93
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Publication:PR Newswire
Date:Aug 13, 1993
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