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THE PRICE REIT MAKES ANNOUNCEMENT

 SAN DIEGO, Oct. 5 /PRNewswire/ -- The Price REIT Inc. (NASDAQ-NMS: PRETB, PRET) today announced that the holders of its outstanding shares of Series A Common Stock now have the right to convert their shares into Series B Common Stock on a 1-for-1 basis pursuant to the terms of the company's charter.
 The company anticipates that the annualized distribution on the Series B Common Stock for the next four quarters will be $2.52 per share, compared to $2.40 per share on the Series A Common Stock. The company's charter requires the company to maintain this 5 percent differential in favor of the Series B Common Stock in future years. The Series A Common Stock and the Series B Common Stock have identical voting, dissolution and liquidation rights. The company has been advised by counsel that the conversion of Series A Common Stock for Series B Common Stock will be tax-free for federal income tax purposes. The company's officers and directors have indicated they intend to convert all their shares of Series A Common Stock into Series B Common Stock.
 The Price REIT is a self-administered, self-managed, fully integrated real estate investment trust specializing in the ownership and acquisition of retail power centers with invested assets of approximately $300 million. The company now owns 12 retail properties located in six states with approximately 3.4 million square feet of gross leasable area, with an overall occupancy rate in excess of 98 percent.
 -0- 10/5/93
 /CONTACT: George Jezek, The Price REIT, 619-551-2320/
 (PRETB PRET)


CO: The Price REIT Inc. ST: California IN: FIN SU:

JB-JL -- SD007 -- 9075 10/05/93 17:15 EDT
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Publication:PR Newswire
Date:Oct 5, 1993
Words:274
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