BINGHAM FARMS, Mich., April 12 /PRNewswire/ -- Malan Realty Investors,
Inc. (NYSE: MAL), a self-administered real estate investment trust (REIT),
today announced it has withdrawn from consideration at its 1999 annual meeting
of shareholders the proposal relating to the creation of a staggered board of
directors. The annual meeting will be held in Birmingham, Michigan, on
May 13, 1999, at 10:00 a.m. EDT.
The company said that a number of its shareholders have advised management
that they have certain concerns with the proposal.
"Malan intends to keep lines of communications open with our shareholders
and be responsive to all reasonable suggestions," said Anthony S. Gramer,
president and chief executive officer.
Malan Realty Investors, Inc. owns, acquires, redevelops and manages
properties that are leased primarily to national and regional retail
companies. The company owns a portfolio of 66 properties located in 10 states
that contains an aggregate of approximately 6.2 million square feet of gross
leasable area.
News releases for Malan Realty Investors are available through Company
News On-Call by fax at 800-758-5804, ext. 114165, or
http://www.prnewswire.com.
SOURCE Malan Realty Investors, Inc.
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Company News On-Call:
http://www.prnewswire.com/comp/114165.html or fax,
800-758-5804, ext. 114165
CONTACT:
Michael K. Kaline, Vice President of Malan
Realty Investors, Inc., 248-644-7110; or Fred Nachman of
Corporate.Technology Communications, Inc., 312-832-9300 ext. 202
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