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NEW YORK CITY-On the heels of reports that First Union Real Estate Investments plans to sell certain properties to Radiant Investors LLC for $200 million, the company plans to prepare dividends payable Oct. 31, 2000.

The announcement comes as stockholders prepare to receive further information on a special vote on whether to approve the sale. While all of the stockholders as of the time of the vote are eligible to cast their ballots on the issue, the dividend will only be paid to Series A Cumulative Preferred Shares. The Board of Trustees has not announced a third quarter dividend for the company’s common shares.

The dividend will be $0.525 per share.

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