March 17, 1995
Dear Fellow Shareholder:
The Annual Meeting of Shareholders of HRE Properties (the
"Trust") was held on March 15, 1995. A portion of the meeting
is being held open, and will reconvene at the offices of
Coudert Brothers, 1114 Avenue of the Americas on Wednesday,
April 5, 1995 at 11:00 A.M. to provide shareholders with
additional time to vote their shares only with respect to
Proposal 2, which would amend the Declaration of Trust to
provide for an increase in the shareholder vote required in
connection with the removal of a Trustee. All other business
was concluded at the meeting on March 15, 1995.
The overwhelming number of the votes received from
shareholders to date have been in favor of Proposal 2. A
significant number of shareholders, however have not yet
returned their proxies. On Proposal 2, your broker cannot
vote your shares without your signed proxy. Because many
shareholders may have assumed that their broker would vote
their shares for them, the total affirmative vote received on
Proposal 2 was less than that required to pass the proposal.
For the reasons set forth in the Proxy Statement
previously sent to you, your Trustees unanimously recommend a
vote "FOR" Proposal 2.
Regardless of the number of shares you own, it is
extremely important that we receive your vote. Since our
records indicate that your proxy was not received, please take
a moment now to sign, date and mail the enclosed duplicate
proxy in the postage paid envelope included for your
convenience. Failure to return your proxy has the same effect
as a vote against the proposal. If your broker holds shares
for you, you must submit your proxy on Proposal 2 for the vote
to be counted.
Thank you for your prompt attention and continued
support. If you should have any questions or need additional
proxy materials, please do not hesitate to contact the
undersigned.
Sincerely,
James R. Moore
Senior Vice President
and Secretary
