FORT WASHINGTON, Pa., July 21 /PRNewswire/ -- Pennsylvania Real Estate
Investment Trust (NYSE: PEI) announced that it has declared a quarterly cash
dividend of $0.47 per share. The dividend will be paid on September 15, 1998
to shareholders and unitholders of record on August 31, 1998.
The September 15, 1998 dividend payment will be PREIT's 86th consecutive
distribution since its initial dividend paid in August of 1962. Throughout
its history, the Company has never omitted or reduced a shareholder dividend.
Pennsylvania Real Estate Investment Trust, founded in 1960 and one of the
first equity REITs in the U.S., has a primary investment focus on shopping
centers (6 million square feet) and apartment communities (6,924 units)
located primarily in the eastern United States. In addition, there are six
shopping centers currently under development. PREIT's portfolio currently
consists of 45 properties in 10 states. PREIT is headquartered in Fort
Washington, Pennsylvania, a suburb of Philadelphia.
SOURCE Pennsylvania Real Estate Investment Trust
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CONTACT:
Dante J. Massimini, Senior Vice President and
Treasurer, of Pennsylvania Real Estate Investment Trust,
215-542-9250; or General Info, Julie Gottlieb, or Analyst Info,
Pamela King, or Media Info, Judith Sylk- Siegel, 212-661-8030, of
The Financial Relations Board
NOTE TO EDITORS: To receive additional information on
Pennsylvania Real Estate Investment Trust via fax at no charge,
please dial 1-800-PRO-INFO and enter the ticker symbol PEI
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