SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities and Exchange Act of 1934
Date of Report (Date of earliest event reported) JANUARY 26, 1999
Property Resources Equity Trust
(Exact Name of Registrant as Specified in its Charter)
California 0-15880 94-3959770
State or other Commission File Number IRS Employer
jurisdiction of Identification
incorporation Number
2000 Alameda de las Pulgas, San Mateo, CA 94404
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (650)312-3000
ITEM 5: OTHER MATERIAL EVENTS
On Tuesday January 26, 1999 at a Special Meeting of Shareholders of the
Registrant, holders of a majority of the Registrant's outstanding shares
approved the dissolution, termination and liquidation of the Company.
Thereafter, the Board of Directors met and declared an initial liquidating
distribution in the amount of $2.10 per share payable on February 16, 1999,
to all shareholders of record as of January 27, 1999.
A second and final liquidating distribution is expected to be made in June of
1999.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned heretofore duly authorized.
Dated: January 29, 1999
PROPERTY RESOURCES EQUITY TRUST
BY: /S/ DAVID P. GOSS
David P. Goss
President
