NEWPORT BEACH, Calif., June 8 /PRNewswire/ -- The Board of Directors of
Pacific Gulf Properties Inc. (NYSE: PAG) announced today the declaration of a
special liquidating cash distribution of $1.15 per share. The distribution
will be payable June 20, 2001 to shareholders of record on June 18, 2001.
The distribution is comprised of a portion of the proceeds from the sales
of the Company's assets to date under the liquidation plan approved by
shareholders in November of 2000.
Pacific Gulf Properties is a real estate investment trust (REIT) that is
in the process of liquidating its assets. The Company is headquartered in
Newport Beach, California. Forward-looking statements and comments in this
press release are made pursuant to the safe harbor provisions of Section 21E
of the Securities Exchange Act of 1934. Such statements relating to, among
other things, events, conditions, prospects and financial trends that may
affect the company's future plans of operations, business strategy, growth of
operations and financial position are not guarantees of future performance and
are necessarily subject to risks and uncertainties, some of which are
significant in scope and nature, including without limitation, increased
competition, adverse economic trends, increasing interest rates and other
factors.
SOURCE Pacific Gulf Properties Inc.
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Company News On-Call:
http://www.prnewswire.com/comp/671475.html or fax,
800-758-5804, ext. 671475
CONTACT:
Donald G. Herrman, Chief Financial Officer of
Pacific Gulf Properties Inc., 949-223-5000
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