MIP PROPERTIES INC
DEFA14A, 1995-09-08
REAL ESTATE INVESTMENT TRUSTS
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                      LETTERHEAD OF MIP PROPERTIES, INC.


                                                              September 11, 1995

                             AN IMPORTANT REMINDER
                             ---------------------

Dear Stockholder:

Proxy material relating to the 1995 Special Meeting of Stockholders of MIP 
Properties, Inc. was previously mailed to you. According to our records, your 
proxy card for this important meeting, which is scheduled for Wednesday, 
September 27, 1995, has not yet been received.

Regardless of the number of shares you own, it is important that they are 
represented and voted at the meeting.  For the reasons set forth in the proxy 
materials previously mailed to you, THE BOARD OF DIRECTORS OF THE COMPANY 
UNANIMOUSLY RECOMMENDS THAT YOU VOTE FOR APPROVAL AND ADOPTION OF THE MERGER 
AGREEMENT AND THE MERGER. You are encouraged to sign, date and mail the enclosed
duplicate proxy today because a vote to abstain or a non-vote has the same 
effect as a vote against the Merger.

Thank you for your continued support. Please call me at 1-800-647-4481 if you 
have any questions.

                                              Very truly yours,



                                              Carl C. Gregory, III
                                              Chairman of the Board
                                              Chief Executive Officer

                IF YOU HAVE RECENTLY MAILED YOUR PROXY, PLEASE
                 ACCEPT OUR THANKS AND DISREGARD THIS REQUEST.


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