PHILADELPHIA, Oct. 23 /PRNewswire/ -- Pennsylvania Real Estate Investment
Trust (PREIT) (NYSE: PEI) announces with deep regret the death of William R.
Dimeling, a Trustee of PREIT since 1982, who passed away on October 18, 2001.
He was a member of PREIT's Audit and Executive Compensation and Human
Resources Committees.
Ronald Rubin, Chairman and Chief Executive Officer of PREIT said, "The
PREIT family is extremely saddened by the passing of our friend and esteemed
Trustee, Bill Dimeling, whose vast knowledge of business and real estate was a
valuable asset to PREIT for almost 20 years, the longest tenure of our
independent Trustees. More than his sound advice and sharp analysis, we will
miss the personable demeanor and keen wit of this fine gentleman. Our
heartfelt condolences are extended to Bill's wife Mimi, and his daughter,
Meg."
Mr. Dimeling was a partner and co-founder of the private investment firm
of Dimeling, Schreiber and Park. Previously, he was an Executive Vice
President of the Reading Company and a partner in the law firm of Townsend,
Elliot and Munson. Additionally he was a Director of New Piper Aircraft
Corporation and Burlingtone Motor Carriers. He served as a Lieutenant in the
United States Navy and received his B.A. from Yale College and a J.D. from the
University of Pennsylvania.
PREIT also announced that a nominating committee of its Board of Trustees
will consider candidates for the vacancies left by the passing of Mr. Dimeling
and the Company's founder Sylvan M. Cohen. Mr. Cohen passed away in September
2001.
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 (approximately 10.7 million square feet) and apartment communities
(approximately 7,242 units) located primarily in the eastern United States.
The Company's portfolio currently consists of 45 properties in 10 states. In
addition, there are 6 retail properties under development, which PREIT expects
will add approximately 1.6 million square feet to its portfolio. PREIT is
headquartered in Philadelphia, Pennsylvania.
To receive additional information on Pennsylvania Real Estate Investment
Trust please visit the Company's website at http://www.preit.com .
SOURCE Pennsylvania Real Estate Investment Trust
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Related links:
http://www.preit.com
CONTACT:
Jonathan B. Weller, President and COO of
Pennsylvania Real Estate Investment Trust, +1-215-875-0700;
General Info., Joe Calabrese, +1-212-445-8434, Analysts,
Georganne Palffy, +1-312-266-7800, or Media, Judith Sylk-Siegel,
+1-212-445-8431, all of FRB Weber Shandwick
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