FORT WASHINGTON, Pa., Oct. 19 /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 December 15, 1998
to shareholders and unitholders of record on November 30, 1998.
The December 15, 1998 dividend payment will be PREIT's 87th 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 (6.9 million square feet) and apartment communities (7,244 units)
located primarily in the eastern United States. In addition, there are seven
shopping centers currently under development. PREIT's portfolio currently
consists of 47 properties in 10 states. PREIT is headquartered in Fort
Washington, Pa., 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; Julie Gottlieb, General Info., Pam King, Analyst
Info., or Judith Sylk-Siegel, Media Info., 212-661-8030, all 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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