Proceeds from the sale will be used for general corporatepurposes and to offset some of the costs associated with EquityOne's pending acquisition and merger with Houston-based UnitedInvestors Realty Trust.

The North Miami Beach-based real estate investment trustoriginally announced in early August that the Ramat Gan,Israel-based real estate investment group intended to acquire about1.3 million shares for a total value of about $14.1 million.

Exercising stock-purchase warrants, the Alony-Hetz group paidslightly less than $10.88 a piece for a stock that last traded at$11.19 on Sept. 10. The group agreed in October 2000 to exercisewarrants totaling $32 million in Equity One common stock prior toDecember 2002.

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