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SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities
Exchange Act of 1934 (Amendment No. 1)
Filed by the Registrant [X]
Filed by a Party other than the Registrant [_]
Check the appropriate box:
[_] Preliminary Proxy Statement [_] Confidential, for Use of the
Commission Only (as permitted by
Rule 14a-6(e)(2))
[X] Definitive Proxy Statement*
[_] Definitive Additional Materials
[_] Soliciting Material Pursuant to Section 240.14a-11(c) or Section 240.14a-12
BRE PROPERTIES, INC.
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(Name of Registrant as Specified In Its Charter)
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(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
[X] No fee required.
[_] Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.
(1) Title of each class of securities to which transaction applies:
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(2) Aggregate number of securities to which transaction applies:
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(3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (Set forth the amount on which
the filing fee is calculated and state how it was determined):
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(4) Proposed maximum aggregate value of transaction:
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(5) Total fee paid:
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[_] Fee paid previously with preliminary materials.
[_] Check box if any part of the fee is offset as provided by Exchange
Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee
was paid previously. Identify the previous filing by registration statement
number, or the Form or Schedule and the date of its filing.
(1) Amount Previously Paid:
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(2) Form, Schedule or Registration Statement No.:
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(4) Date Filed:
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Notes:
* This revised definitive proxy statement page is being filed to correct a
data error contained in the Comparative Stock Performance graph set
forth on page 21 of the definitive proxy statement filed on March 26,
1999. The new page of the definitive proxy statement contains the
correct stock price performance graph under the heading Comparative
Stock Performance.
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[LOGO]
BRE PROPERTIES, INC.
April 29, 1999
Dear Shareholder:
At BRE Properties, we consistently strive to provide our Shareholders with
high-quality disclosure materials and investor information. It has come to our
attention that our Proxy Statement dated March 26, 1999 contained a data error
on the Comparative Stock Performance graph on page 21.
Though the relationship of the five-year total Shareholder return to the
three indexes remains similar after the correction, we want you to have
accurate data. Enclosed is the revised Comparative Stock Performance graph that
replaces the information found on page 21 of the Proxy Statement.
We look forward to seeing you at the BRE Annual Meeting of Shareholders on
May 11, 1999, at 10:00 a.m. (PDT), in the Oak Room of the Westin St. Francis
Hotel, 335 Powell Street, in San Francisco's Union Square.
If you have any questions, I encourage you to give us a call at 415-445-6500.
Our Shareholder Services Associates will be pleased to assist you.
Sincerely,
BRE Properties, Inc.
/s/ Frank C. McDowell
Frank C. McDowell
President & Chief Executive Officer
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COMPARATIVE STOCK PERFORMANCE
The line graph below compares the cumulative total shareholder return on the
Common Stock for the last five years with the cumulative total return on the
S&P 500 Index and the NAREIT Equity REIT Total Return Index over the same
period. This comparison assumes that the value of the investment in the Common
Stock and in each index was $100 on December 31, 1993 and that all dividends
were reinvested.(/1/)
[PERFORMANCE GRAPH APPEARS HERE]
<TABLE>
<CAPTION>
12/31/93 12/31/94 12/31/95 12/31/96 12/31/97 12/31/98
-------- -------- -------- -------- -------- --------
<S> <C> <C> <C> <C> <C> <C>
BRE Properties, Inc..... $100.00 $ 99.05 $123.73 $182.58 $219.65 $203.83
S&P 500 Index........... $100.00 $101.31 $139.23 $171.19 $228.32 $293.57
NAREIT Equity REIT
Index.................. $100.00 $103.17 $118.92 $160.86 $193.45 $159.59
</TABLE>
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(1) BRE's Common Stock performance data is provided by Factset Research
Systems, Inc. which calculates reinvestment results using the ex-dividend
date. The S&P 500 Index and NAREIT Equity REIT Index data are provided by
NAREIT which calculates reinvestment results using the dividend payable
date. The NAREIT Equity Total Return Index includes 176 companies with
aggregate equity capitalization (excluding operating units) or
approximately $132 billion.
21
