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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): October 31, 1997
Royale Investments, Inc.
(Exact name of registrant as specified in its charter)
Minnesota 0-20047 41-1691930
(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
One Logan Square, Suite 1105
Philadelphia, PA 19103
(Address of principal executive offices) (Zip Code)
(215) 567-1800
(Registrant's telephone number, including area code)
Not applicable
(Former name or former address, if changed since last report)
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Royale Investments, Inc. Form 8-K
Page 2 October 31, 1997
Item 4. Changes in Registrant's Certifying Accountant
On October 14, 1997, Royale Investments, Inc. (the "Company") closed
on the acquisition of a portfolio of 10 properties, representing the
Mid-Atlantic suburban office operations of The Shidler Group, a national real
estate investment firm. In connection with this acquisition, the Company has
changed its certifying accountant from Lurie, Besikof, Lapidus & Co., LLP
("Lurie") to Coopers & Lybrand L.L.P. ("C&L").
On October 31, 1997, C&L was appointed by the Board of Directors as
the Company's independent public accountant for the year ending December 31,
1997.
The reports of Lurie on the Company's financial statements for each of
the two years ended December 31, 1996 and 1995, contained no adverse opinion
or disclaimer of opinion, and were not qualified or modified as to
uncertainty, audit scope, or accounting principles.
The Company is not aware of any disagreements with Lurie during the
Company's two most recent fiscal years and through the date of this report on
any matters of accounting principles or practices, financial statement
disclosures, or auditing scope and procedures which, if not resolved to the
satisfaction of Lurie, would have caused Lurie to make reference to the
matters in their reports.
During the Company's two most recent fiscal years and through the
date of the report, the Company has had no reportable events as defined in
Item 304(a)(1)(v) of Regulation S-K.
The Company has requested that Lurie furnish it with a letter
addressed to the Securities and Exchange Commission stating whether Lurie
agrees with the above statements. A copy of the letter dated November 4,
1997 is filed as Exhibit 16.1 to this Form 8-K.
During the Company's two most recent fiscal years ended December
31, 1996 and December 31, 1995 and through the engagement of C&L, the Company
has not consulted with C&L regarding any of the matters specified in Item
304(a)(2) of Regulation S-K.
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Royale Investments, Inc. Form 8-K
Page 3 October 31, 1997
Item 7. Financial Statements and Exhibits
(c) Exhibits
16.1 Letter to the Securities and Exchange Commission from Lurie,
Besikof, Lapidus & Co., LLP, dated November 4, 1997.
SIGNATURES
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 hereunto duly authorized.
Royale Investments, Inc.
(Registrant)
By: /s/ Thomas D. Cassel
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Thomas D. Cassel
Vice President Finance
Date: November 6, 1997
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EXHIBIT INDEX
Exhibit No. Description
(16.1) Letter to the Securities and Exchange Commission
from Lurie, Besikof, Lapidus & Co., LLP dated November
4, 1997.
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[LURIE, BESIKOF, LAPIDUS LETTERHEAD]
November 4, 1997
Securities and Exchange Commission
450 - 5th Street NW
Washington, DC 20549
Gentlemen:
We have read and agree with the comments in Item 4 of Form 8-K of Royale
Investments, Inc. dated October 31, 1997.
/s/ Lurie, Besikof, Lapidus & Co., LLP
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LURIE, BESIKOF, LAPIDUS & CO., LLP
Minneapolis, Minnesota
November 4, 1997
