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UNDERWRITERS EXERCISE OPTION TO PURCHASE ADDITIONAL SHARES OF COLONIAL PROPERTIES TRUST COMMON SHARES

 ORLANDO, Fla., Oct. 26 /PRNewswire/ -- Thomas H. Lowder, president and chief executive officer of Colonial Properties Trust (NYSE: CLP), announced today that the underwriters have exercised their over- allotment option and will purchase 686,200 additional common shares of the company at a price of $23 per share.
 This option was granted in connection with the company's initial public offering of 8.48 million shares which commenced on Sept. 23. "The exercise of the option indicates the continued positive acceptance of Colonial Properties' shares in the market," stated Lowder. He also added, "We are very excited about the additional capital of approximately $14.8 million."
 Colonial Properties Trust and its subsidiaries succeeded to substantially all of the interests of Colonial Properties, Inc., its affiliates and certain others in a portfolio of 36 retail, multi-family and office properties located in Alabama, Florida and Georgia, and to the development, acquisition, management leasing and brokerage businesses of Colonial. The company expects to qualify as a Real Estate Investment Trust. The company's stock is listed on the New York Stock Exchange under the symbol CLP.
 -0- 10/26/93
 /CONTACT: Douglas B. Nunnelley of Colonial Properties Trust, 407-677-1112/
 (CLP)


CO: Colonial Properties Trust ST: Florida IN: SU:

RA-BN -- AT011 -- 6804 10/26/93 13:01 EDT
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Publication:PR Newswire
Date:Oct 26, 1993
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