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FREEHOLD, NJ-In what is essentially a merger of two sistercompanies, Monmouth Real Estate Investment Corp. and MonmouthCapital Corp. have agreed to merge into one company that willcontinue to bear the Mreic name. The two publicly traded companiesshare a headquarters here and have many of the same officers andboard members.

"The combination enhances our prospects for continued growth andexposure in the marketplace through increased market capitalizationand an expanded shareholder base," says Eugene Landy, president andchairman of Mreic, also known as "Monmouth REIT. "The core assetsof the two companies are complementary and the consolidation willenable management to utilize existing capital and resources moreefficiently while providing stockholders with a portfolio of assetswith enhanced tenant and geographic diversification."