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SCHEDULE 14A
(RULE 14a)
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES
EXCHANGE ACT OF 1934
Filed by the Registrant [X]
Filed by a Party other than the Registrant [ ]
Check the appropriate box:
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[ ] Preliminary Proxy Statement [ ] CONFIDENTIAL, FOR USE OF THE COMMISSION
ONLY (AS PERMITTED BY RULE 14a-6(e)(2))
[ ] Definitive Proxy Statement
[ ] Definitive Additional Materials
[X] Soliciting Material Pursuant to sec.240.14a-11(c) or sec.240.14a-12
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FIRST UNION REAL ESTATE EQUITY AND MORTGAGE INVESTMENTS
(NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
(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)(1) and 0-11.
(1) Title of each class of securities to which transaction applies: .......
(2) Aggregate number of securities to which transaction applies: ..........
(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): ............
(4) Proposed maximum aggregate value of transaction: ......................
(5) Total fee paid: .......................................................
[ ] 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: ...............................................
(2) Form, Schedule or Registration Statement No.: .........................
(3) Filing Party: .........................................................
(4) Date Filed: ...........................................................
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FIRST UNION REAL ESTATE INVESTMENTS
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AT THE COMPANY IN CLEVELAND IN CHICAGO IN NEW YORK
Thomas T. Kmiecik Stanley L. Ulchaker Kate Connelly Arthur Gormley
Senior Vice President Edward Howard & Co. The Dilenschneider Group The Dilenschneider Group
(216) 781-4030 (216) 781-2400 (312) 553-0700 (212) 922-0900
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FOR IMMEDIATE RELEASE
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FIRST UNION CREATES INDEPENDENT TRUSTEE COMMITTEE
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AND RETAINS CREDIT SUISSE FIRST BOSTON
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CLEVELAND, OHIO, APRIL 17, 1998 --- FIRST UNION REAL ESTATE INVESTMENTS
(NYSE:FUR) announced today that the Board of Trustees has created an independent
committee composed of outside Trustees to identify the best opportunities for
maximizing value for First Union shareholders. Credit Suisse First Boston has
been retained in an expanded role to assist the committee in evaluating
alternatives. In an effort to reach a common ground, the committee has been
talking with representatives of Gotham Partners and two other hedge funds that
support Gotham's efforts to take control of the Trust.
First Union Real Estate Investments is a unique stapled-stock real estate
investment trust (REIT) headquartered in Cleveland, Ohio, and traded on the
NYSE.
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