<PAGE>
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of
the Securities Exchange Act of 1934 (Amendment No. )
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
MID-AMERICAN REALTY INVESTMENTS, INC.
- --------------------------------------------------------------------------------
(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/ $125 per Exchange Act Rules 0-11(c)(1)(ii), 14a-6(i)(1), 14a-6(i)(2) or
Item 22(a)(2) of Schedule 14A.
/ / $500 per each party to the controversy pursuant to Exchange Act Rule
14a-6(i)(3).
/ / 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:
------------------------------------------------------------------------
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:
------------------------------------------------------------------------
<PAGE>
[LOGO]
PROXY STATEMENT
FOR THE ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD ON
APRIL 24, 1996
To the Shareholders of Mid-America Realty Investments, Inc.:
Notice is hereby given that the Annual Meeting of Shareholders will be held
at 10:00 a.m. on Wednesday, April 24, 1996 at the Marriott Hotel, 10220 Regency
Circle, Omaha, Nebraska for the following purposes:
(1) To elect directors to serve for the following year.
(2) To ratify the appointment of independent public accountants.
(3) To transact such other business as may properly come before the meeting.
The Directors have fixed the close of business on March 1, 1996 as the
record date for shares entitled to vote at the meeting.
IT IS IMPORTANT THAT PROXIES BE RETURNED PROMPTLY. THEREFORE, SHAREHOLDERS
ARE URGED TO DATE, SIGN AND RETURN THE ACCOMPANYING FORM OF PROXY IN THE
ENCLOSED ENVELOPE.
Jerome L. Heinrichs
[SIG]
Chairman and Chief Executive Officer
March 20, 1996
<PAGE>
MID-AMERICA REALTY INVESTMENTS, INC.
11506 Nicholas Street
Suite 100
Omaha, Nebraska 68154
PROXY STATEMENT
This Proxy Statement is furnished in connection with the solicitation of
proxies for use at the Annual Meeting of Shareholders of Mid-America Realty
Investments, Inc. (the "Company") to be held on Wednesday, April 24, 1996 at
10:00 a.m. at the Marriott Hotel, 10220 Regency Circle, Omaha, Nebraska. A copy
of the Company's Annual Report for the fiscal year ended December 31, 1995
accompanies this Proxy Statement. The executive offices of the Company are
located at 11506 Nicholas Street, Suite 100, Omaha, Nebraska 68154.
Shareholders of record as of the close of business on March 1, 1996 will be
entitled to vote at the meeting. On that date, there were 8,281,007 shares of
common stock outstanding.
The presence of a majority of the outstanding shares of common stock,
represented in person or by proxy at the meeting, will constitute a quorum.
Shares represented by proxies that are marked "abstain" will be counted as
shares present for purposes of determining the presence of a quorum. Proxies
relating to "street name" shares that are voted by brokers on some matters will
be treated as shares present for purposes of determining the presence of a
quorum, but will not be treated as shares entitled to vote at the annual meeting
on those matters as to which authority to vote is withheld by the broker
("broker non-votes").
The five nominees receiving the highest vote totals will be elected as
directors of the Company. Accordingly, abstentions and broker non-votes will not
affect the outcome of the election of directors. All other matters to be voted
on will be decided by the affirmative vote of a majority of the shares present
or represented at the meeting and entitled to vote. On any such matter, an
abstention will have the same effect as a negative vote. A broker non-vote will
not be counted as an affirmative vote or a negative vote because shares held by
brokers will not be considered entitled to vote on matters as to which the
brokers withhold authority.
A shareholder giving a proxy may revoke it before the meeting by mailing a
signed instrument revoking the proxy to: Secretary, Mid-America Realty
Investments, Inc., Suite 100, 11506 Nicholas Street, Omaha, Nebraska 68154. To
be effective, a mailed revocation must be received by the Secretary before the
date of the Annual Meeting. A shareholder may also attend the Annual Meeting in
person, and at that time withdraw his or her proxy and vote in person. This
proxy statement is being mailed to shareholders on or about March 20, 1996.
The proxy is being solicited by the Board of Directors of the Company.
Proxies may also be solicited by officers and employees of the Company, and by
Kissel-Blake, Inc. and its employees, by means of personal contacts or telephone
contacts. The cost of solicitation of proxies including the cost of reimbursing
banks, brokers, and other record holders for forwarding proxies and proxy
statements to the beneficial holders of the shares, will be borne by the
Company. The estimated cost of the proxy solicitation services obtained from
Kissel-Blake, Inc. is $4,000, plus out-of-pocket expenses.
1
<PAGE>
ELECTION OF DIRECTORS
All directors of the Company are elected at each Annual Meeting. Pursuant to
the By-Laws, the number of directors to be elected is five. Any vacancy on the
Board will be filled by a vote of the remaining directors. Each person so
elected shall serve until the Company's next Annual Meeting and/or until his
successor is elected and qualified.
The persons named as proxies in the accompanying proxy intend to vote for
the election of the persons named below, all of whom are presently directors of
the Company, to serve until the next Annual Meeting of Shareholders and/or until
their successors are elected and shall qualify. It is expected that each of the
nominees will be able to serve, but if such nominee is unable to serve for any
reason, the proxies reserve discretion to vote or refrain from voting for a
substitute nominee or nominees.
PERSONS NOMINATED FOR ELECTION AS DIRECTORS
<TABLE>
<CAPTION>
NAME, POSITION AND PRINCIPAL OCCUPATION
TENURE WITH THE COMPANY AGE FOR THE PAST FIVE YEARS
- ------------------------------- --- ------------------------------------------
<S> <C> <C>
Jerome L. Heinrichs 56 Mr. Heinrichs was appointed Chief Oper-
Chairman and Chief Executive ating Officer in April 1992 and Chairman
Officer and Chief Executive Officer in October
Director Since October 1986 1992. Mr. Heinrichs was the co-founder,
President and Chairman of the Board of
Investors Realty, Inc., Omaha, Nebraska, a
commercial and industrial real estate
brokerage, leasing and management company
from 1975 to April 1992.
Daniel A. Burkhardt 48 Mr. Burkhardt has been a Principal in the
Director Since January 1989 Investment Banking Department of Edward D.
Jones & Co. since January 1980. Mr.
Burkhardt also serves as a Director for
the following organizations: The Essex
County Gas Company, Amesbury, Massa-
chusetts; St. Joseph Light and Power, St.
Joseph Missouri; Galaxy Cablevision
Management, Inc., Sikeston, Missouri;
Community Investment Partners I and II,
St. Louis, Missouri; and Southeastern
Michigan Gas Enterprises, Port Huron,
Michigan.
</TABLE>
2
<PAGE>
<TABLE>
<CAPTION>
NAME, POSITION AND PRINCIPAL OCCUPATION
TENURE WITH THE COMPANY AGE FOR THE PAST FIVE YEARS
- ------------------------------- --- ------------------------------------------
<S> <C> <C>
Michael F. Lawler 50 Mr. Lawler has been Treasurer of Tenaska,
Director Since January 1990 Inc., Omaha, Nebraska, an international
developer of independent and cogeneration
power projects since November 1991. From
1985 to October 1991, he was Senior Vice
President of Finance and Information
Systems of Mercy Midlands, Omaha,
Nebraska.
John L. Maginn 56 Mr. Maginn has been Executive Vice Pres-
Director Since June 1992 ident, Chief Investment Officer and Trea-
surer of Mutual of Omaha Insurance Company
and United of Omaha Life Insurance Company
since August 1987. He is also President of
Mutual Asset Management Company.
Gary R. Hawkins 49 Mr. Hawkins is a partner in the real
Director Since January 1996 estate development company Hawkins-Smith
Development Co. located in Boise, Idaho.
He is active as a senior instructor in the
commercial investment division of the Na-
tional Association of Realtors. For the
past 20 years, Mr. Hawkins has written and
taught courses on shopping center devel-
opment and market feasibility.
</TABLE>
DIRECTOR MEETINGS AND COMPENSATION
The Board of Directors met six times during 1995. The Board of Directors has
assigned certain responsibilities to committees. All incumbent directors
attended at least 75% of the meetings of the Board and Committees on which he
served.
The Audit Committee consists of Mr. Lawler (Chairman) and Mr. Maginn. The
Audit Committee recommends the independent accounting firm to be retained each
year, meets periodically with the independent accountants and management to
review the scope of audit procedures, to review audit reports and to consider
internal control and financial reporting matters. The Committee met one time in
1995.
The Finance Committee consists of Mr. Lawler (Chairman), Mr. Maginn and Mr.
Heinrichs. The Finance Committee reviews the Company's operating results and
financial position (including short-term and long-term liquidity), evaluates
potential sources of capital and reviews proposals for potential acquisitions.
The Committee met six times in 1995.
The Compensation Committee consists of Mr. Burkhardt (Chairman) and Mr.
Lawler. The Compensation Committee determines the amount and types of
renumeration to be paid to management employees and administers the Company's
stock plans. The Committee met three times in 1995.
3
<PAGE>
The Company does not have a standing Nominating Committee.
Directors who are not employees of the Company receive fees of i) $10,000
per annum (50% of this retainer is paid in the form of Company stock), ii) $500
for each meeting of the Board of Directors ($250 for telephone meetings), and
iii) $250 for each committee meeting ($150 for telephone meetings).
EXECUTIVE OFFICERS OF THE COMPANY
<TABLE>
<CAPTION>
PRINCIPAL OCCUPATION
NAME AND POSITION AGE FOR THE PAST FIVE YEARS
- ------------------------------------ --- ------------------------------------
<S> <C> <C>
Jerome L. Heinrichs, Chief Executive 56 See "Persons Nominated for Election
Officer as Directors"
Dennis G. Gethmann, President and 46 Mr. Gethmann was promoted to
Chief Operating Officer President and Chief Operating
Officer in January 1995. Mr.
Gethmann has been Chief Financial
Officer of the Company since October
1993. Mr. Gethmann was the President
and Chief Financial Officer of
Financial Services with Marquette
Partners, Minneapolis, Minnesota, a
real estate firm that managed and
owned commercial real estate, from
March 1990 to October 1993.
</TABLE>
OWNERSHIP OF SHARES BY DIRECTORS AND EXECUTIVE OFFICERS
The following table sets forth certain information concerning all shares
beneficially owned as of March 1, 1996 by each director and executive officer.
The voting and investment power for all shares listed are held solely by the
named holder.
<TABLE>
<CAPTION>
SHARES PERCENTAGE OF
NAMED DIRECTOR OR EXECUTIVE OFFICER BENEFICIALLY OWNED COMMON STOCK
- --------------------------------------------- ------------------ -------------
<S> <C> <C>
Jerome L. Heinrichs 96,175* 1.16%
Dennis G. Gethmann 39,860* **
John L. Maginn 6,767 **
Michael F. Lawler 3,167 **
Daniel A. Burkhardt 3,133 **
Gary R. Hawkins 500 **
------- ---
Directors and Executive Officers as a Group
(6 persons) 149,602 1.81%
------- ---
------- ---
</TABLE>
- -------------------
* Includes options for shares (75,000 for Mr. Heinrichs and 25,000 for Mr.
Gethmann) exercisable at $10.75 per share the listed persons have the right
to acquire pursuant to stock options exercisable within 60 days of March 1,
1996.
** Less than 1% of the Company's common stock.
4
<PAGE>
OWNERSHIP OF CERTAIN BENEFICIAL OWNERS
The following table sets forth certain information available to the Company
and as reported on Schedule 13Gs filed with the Securities and Exchange
Commission in February 1996 with respect to shares of the Company held by those
persons known to the Company to be beneficial owners (as determined under the
rules of the Securities and Exchange Commission) of more than 5% of the
Company's shares of common stock then outstanding:
<TABLE>
<CAPTION>
SHARES BENEFICIALLY OWNED
----------------------------
PERCENT OF
NAME AND ADDRESS NUMBER OF TOTAL SHARES
OF BENEFICIAL OWNER SHARES OUTSTANDING
--------------------------------- --------- ------------
<S> <C> <C>
Merrill Lynch & Co., Inc. 751,300 9.07%
World Financial Center, North
Tower
250 Versey Street
New York, New York 10281
The Travelers Group, Inc. 509,977 6.16%
65 East 55th Street
New York, New York 10022
Palisade Capital Management, 480,000 5.80%
L.L.C.
One Bridge Plaza, Suite 695
Fort Lee, New Jersey 07024
</TABLE>
SUMMARY COMPENSATION TABLE
The following table shows compensation paid by the Company for services
rendered during 1995, 1994 and 1993 to the Chief Executive Officer and the only
other executive officer of the Company whose salary and bonus exceeded $100,000
in 1995.
<TABLE>
<CAPTION>
ALL OTHER
NAME AND PRINCIPAL POSITION YEAR SALARY BONUS COMPENSATION
- ------------------------------------------------- --------- ----------- --------- --------------
<S> <C> <C> <C> <C>
Jerome L. Heinrichs, 1995 $ 150,000 $ 22,500 $ 24,453(1)
Chairman and Chief Executive Officer 1994 150,000 0 17,830(2)
1993 139,164 3,500 0
Dennis G. Gethmann, 1995 135,000 22,500 16,212(3)
President and Chief Operating Officer 1994 110,000 0 17,702(4)
1993 21,685(5) 0 0
</TABLE>
- -------------------
(1) Represents $13,955 paid by the Company for the annual premium on life
insurance on the executive's life in 1995 pursuant to the Company's
Executive Death Benefit Plan, $10,000 of contributions by the Company during
1995 pursuant to the Company's Executive Deferred Compensation Plan and $498
of benefits associated with the Company's Executive Health Insurance
Program.
5
<PAGE>
(2) Represents $13,955 paid by the Company for the annual premium on life
insurance on the executive's life in 1994 pursuant to the Company's
Executive Death Benefit Plan and $3,875 of contributions by the Company
during 1994 pursuant to the Company's Executive Deferred Compensation Plan.
(3) Represents $4,260 paid by the Company for the annual premium on life
insurance on the executive's life in 1995 pursuant to the Company's
Executive Death Benefit Plan, $8,438 of contributions by the Company during
1995 pursuant to the Company's Executive Deferred Compensation Plan and
$3,514 of benefits associated with the Company's Executive Health Insurance
Program.
(4) Represents $10,536 moving costs paid by the Company to Mr. Gethmann in 1994,
$4,260 paid by the Company for the annual premium on life insurance on the
executive's life in 1994 pursuant to the Company's Executive Death Benefit
Plan and $2,906 of contributions by the Company during 1994 pursuant to the
Company's Executive Deferred Compensation Plan.
(5) The amounts shown for Mr. Gethmann are from the date he started employment
with the Company (October 21, 1993) until December 31, 1993.
OPTION GRANTS IN 1995
The following table sets forth information on grants of stock options
pursuant to the Company's Stock Option Plan during 1995 to the executive
officers in the summary table. No stock appreciation rights have been granted by
the Company.
<TABLE>
<CAPTION>
POTENTIAL
REALIZABLE VALUE
AT ASSUMED
ANNUAL RATES OF
STOCK PRICE
% OF TOTAL APPRECIATION FOR
OPTIONS OPTIONS GRANTED OPTION TERM(2)
GRANTED(1) TO EMPLOYEES IN PRICE ----------------
NAME (#) FISCAL YEAR ($/SHARE) EXPIRATION DATE 5% 10%
- ---------------------------------------- ---------- --------------- --------- ----------------- ------- -------
<S> <C> <C> <C> <C> <C> <C>
Jerome L. Heinrichs 50,000 50% $8.00 December 27, 2005 $252,000 $637,000
Dennis G. Gethmann 50,000 50% $8.00 December 27, 2005 $252,000 $637,000
</TABLE>
- -------------------
(1) All options granted in 1995 become exercisable on December 27, 1997. The
options have a ten-year term and were granted at a market price of the
Company's stock on the date of grant.
(2) Potential realizable value is based on the assumption that the common stock
price appreciates at the annual rate shown (compounded annually) from the
date of grant until the end of the ten-year option term. The numbers are
calculated based upon the requirements promulgated by the Securities and
Exchange Commission. The actual value, if any, the executive may realize
will depend on the excess of the stock price over the exercise price on the
date the option is exercised, so there is no assurance that the value
realized will be at or near the potential realizable value as calculated
above.
6
<PAGE>
OPTION EXERCISES IN 1995 AND YEAR-END VALUES TABLE
<TABLE>
<CAPTION>
VALUE OF
NUMBER OF UNEXERCISED
UNEXERCISED IN-THE- MONEY
OPTIONS AT FY- OPTIONS AT
END (#) FY-END (#)
SHARES ACQUIRED VALUE REALIZED EXERCISABLE/ EXERCISABLE/
NAME ON EXERCISE (#) $ UNEXERCISABLE UNEXERCISABLE
- ----------------------------------- --------------- -------------- --------------- --------------
<S> <C> <C> <C> <C>
Jerome L. Heinrichs 0 0 50,000 / 75,000 0 / 0
Dennis G. Gethmann 0 0 16,667 / 58,333 0 / 0
</TABLE>
EMPLOYMENT AGREEMENTS
The Company and Mr. Heinrichs are parties to an employment agreement dated
April 13, 1992. Mr. Heinrichs receives a base salary of at least $120,000 per
annum plus customary fringe benefits, which base salary is to be reviewed by the
Board of Directors on an annual basis.
The Company and Mr. Gethmann are parties to an employment agreement dated
January 20, 1994. Mr. Gethmann receives a base salary of at least $110,000 per
annum plus customary fringe benefits, which base salary is to be reviewed by the
Board of Directors on an annual basis.
Each employment agreement is terminable by either party thereto at any time
subject to certain notice requirements; provided, if the Company terminates an
employment agreement without cause (as defined in each employment agreement),
the terminated executive will receive severance pay equal to his normal monthly
pay for a period of two years. If an employment agreement is terminated
following a change in control of the Company (as defined in each employment
agreement), the terminated executive will receive severance payments equal to
200% of his then current annual base salary.
REPORT ON EXECUTIVE COMPENSATION
The Compensation Committee is responsible for establishing and administering
the executive compensation and stock option plans for the Company. The Committee
is composed of non-employee directors.
The base salary for the Company's executive officers is reviewed annually by
the Committee, and the Committee approved a 5.5% cost-of-living increase for
1996. The Committee also considers discretionary bonus payments on an annual
basis. The Committee approved 1995 bonuses of $22,500 to each of Mr. Heinrichs
and Mr. Gethmann based upon their efforts in (i) increasing the Company's Funds
From Operations by 10% during 1995, (ii) successfully resolving litigation
relating to the Company's Silvis, Illinois property and (iii) negotiating the
extension of significant borrowings which matured in 1995.
The Committee also established during 1994 the Executive Death Benefit Plan
and the Executive Deferred Compensation Plan, both of which are designed to
further assist the Company in attracting and retaining executive officers. Under
the Executive Death Benefit Plan, the Company purchased a $300,000 split-dollar
life insurance policy on the Chief Executive Officer and a $225,000 split-dollar
life insurance policy on the President. The executive officer pays the "term"
portion of the annual premium and the Company pays the balance of the annual
premium (which amount must be repaid to the Company from the
7
<PAGE>
proceeds of the policy), which amount is reflected as "all other compensation"
in the Summary Compensation Table. Under the Executive Deferred Compensation
Plan, the executive officers are entitled to defer a portion of their base
salary and annual bonuses. The Company matches up to 50% of such deferrals up to
$10,000 per executive per year. Such Company contributions vest 50% after five
years and in installments thereafter. The Company matching contributions, and
the interest credited to the deferred accounts on an annual basis, are included
in "all other compensation" in the Summary Compensation Table.
The Committee also administers the Company's Stock Plans. The Committee
determined in December 1995 to make a substantial option grant to each of Mr.
Heinrichs and Mr. Gethmann. The Committee noted that no options had been granted
since October 1993. The Committee intended to create an incentive for the
executives to increase the Company's stock price, and deferred exercisability of
the options for two years in order to financially encourage the executives to
remain with the Company. The Committee decided to grant an option for 50,000
shares to each executive (20% of the number of shares issuable under the Stock
Plan) exercisable at the market price of the common stock on the grant date.
Mr. Heinrichs serves as Chairman and Chief Executive Officer. His base
salary was increased by 5.5% to $158,250 per annum effective January 1, 1996.
Mr. Heinrichs' initial base salary was established under his employment
agreement (see "Employment Agreements"), and increases were based on performance
criteria in his employment agreement.
Mr. Gethmann was hired as Chief Financial Officer in October 1993 and was
promoted to President and Chief Operating Officer in January 1995. In
conjunction with his promotion, his base salary was increased to $135,000 per
annum from $110,000 per annum. His initial base salary was established pursuant
to his employment agreement (see "Employment Agreements"). Mr. Gethmann's base
salary was increased by 5.5% to $142,425 effective January 1, 1996.
The Compensation Committee
Daniel A. Burkhardt, Chairman
Michael F. Lawler
8
<PAGE>
STOCK PRICE PERFORMANCE GRAPH
The following performance graph compares the performance of the Company's
common stock to the total returns in the Standard and Poor's 500 Stock Index ("S
& P 500 Index") and the National Association of Real Estate Investment Trusts
Total Return Index for Equity REITs ("NAREIT Equity Index"). The performance
graph shows the cumulative, five-year shareholders returns. The graph assumes
that the value of the investment in the Company's common stock, the S & P 500
Index and the NAREIT Equity Index was $100 at December 31, 1990 and that any
dividends were reinvested.
EDGAR REPRESENTATION OF DATA POINTS USED IN PRINTED GRAPHIC
<TABLE>
<CAPTION>
MID-AMERICA REALTY
INVESTMENTS, INC. NAREIT EQUITY INDEX S&P 500 INDEX
<S> <C> <C> <C>
12/31/90 100.00 100.00 100.00
12/31/91 98.79 135.70 130.55
12/31/92 86.02 155.49 140.56
12/31/93 89.78 186.06 154.60
12/31/94 67.14 191.95 156.63
12/31/95 80.21 221.26 215.25
</TABLE>
9
<PAGE>
RATIFICATION OF APPOINTMENT OF INDEPENDENT
PUBLIC ACCOUNTANTS
The Board of Directors, upon the recommendation of the Audit Committee, has
appointed Deloitte & Touche LLP as the independent certified public accountants
to audit the books and accounts of the Company and its consolidated subsidiary
for the year 1996 subject to ratification by shareholders. Deloitte & Touche LLP
has audited the Company's books and records every year since 1987.
A representative of Deloitte & Touche LLP is expected to be present at the
Annual Meeting, and will have an opportunity to make a statement if such
representative desires to do so and will be available to respond to appropriate
questions by shareholders.
THE BOARD OF DIRECTORS RECOMMENDS A VOTE FOR RATIFICATION OF THE APPOINTMENT
OF DELOITTE & TOUCHE LLP.
SHAREHOLDER PROPOSALS
Shareholder proposals intended to be included in the Company's proxy
statement for the 1997 annual meeting of shareholders must be received by the
Company no later than November 10, 1996 in order for such proposals to be
considered for inclusion in the Company's proxy statement relating to such
meeting.
OTHER MATTERS
The Board of Directors does not know of any matter, other than those
described above, that may be presented for action at the Annual Meeting. If any
other matter or proposal should be presented and should properly come before the
meeting for action, the persons named in the accompanying proxy will vote upon
such matter and upon such proposal in accordance with their best judgment.
10
<PAGE>
Mid-America Realty Investments, Inc.
Proxy for the Annual Meeting of Shareholders to be held on April 26,
1995
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS OF THE
COMPANY
The undersigned hereby constitutes and appoints Jerome L. Heinrichs
and Dennis G. Gethmann, or either of them, with full power of
substitution in each of them, for and on behalf of the undersigned to
vote as proxies, as directed and permitted herein, at the 1996 Annual
Meeting of Shareholders of the Company to be held at the Marriott
Hotel, 10220 Regency Circle, Omaha, Nebraska, on Wednesday, April 24,
1996 at 10:00 a.m., and at any adjournment thereof, upon matters set
forth in the Proxy Statement and, in their judgment and discretion,
upon such other business as may properly come before the meeting.
(Please mark this Proxy and sign and date it on the reverse side
hereof and return it in the enclosed envelope.)
<PAGE>
Please mark in oval in the following manner using dark ink only.
Withhold
For All Nominees
Withhold For Only
The Following Nominee(s):
Vote For All Nominees
Item 1. Election of Directors -- for the following nominees for
Director: Daniel A. Burkhardt, Jerome L. Heinrichs,
Michael F. Lawler, John L. Maginn, Gary R. Hawkins
For
Against
Abstain
Item 2. Ratify the appointment of independent public
accountants for 1996.
For
Against
Abstain
THIS PROXY, WHEN PROPERLY EXECUTED, WILL BE VOTED IN THE MANNER
DIRECTED HEREIN BY THE UNDERSIGNED SHAREHOLDER. IF NO DIRECTION IS
MADE, THIS PROXY WILL BE VOTED FOR PROPOSALS 1 AND 2.
Dated , 1996
(Signature of Shareholder)
(Signature of Shareholder)
PLEASE DATE AND SIGN NAME EXACTLY AS IT APPEARS ON THIS CARD AND
RETURN THIS PROXY PROMPTLY IN THE ENCLOSED ENVELOPE WHICH REQUIRES NO
POSTAGE IF MAILED IN THE UNITED STATES.
Joint owners should each sign. Executors, administrators, trustees,
guardians and corporate officers should give title.
