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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
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Taubman Centers, Inc.
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(Name of Issuer)
Common Stock, par value $0.01 per share
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(Title of Class of Securities)
876 664 103
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(CUSIP Number)
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section
of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).
Page 1 of 4 Pages
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SCHEDULE 13G
CUSIP No. 876 664 103 Page 2 of 4 Pages
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(1) NAME OF REPORTING PERSON. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSONS
SBC Master Pension Trust
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER (a) / /
OF A GROUP* (b) /x/
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Missouri
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NUMBER OF SHARES (5) SOLE VOTING
BENEFICIALLY POWER
OWNED BY 6,114,027 (Footnote 1)
EACH REPORTING --------------------------------------------------
PERSON WITH (6) SHARED VOTING
POWER
157,100 (Footnote 2)
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(7) SOLE DISPOSITIVE
POWER
6,114,027 (Footnote 1)
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(8) SHARED DISPOSITIVE
POWER
157,100 (Footnote 2)
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,271,127
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(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* / /
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(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11.03%
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(12) TYPE OF REPORTING PERSON*
EP
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*SEE INSTRUCTION BEFORE FILLING OUT!
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1 Reporting person owns 6,114,027 Units in The Taubman Realty Group
Limited Partnership, a Delaware Limited Partnership, of which the
Issuer is the managing general partner. The Units are immediately
convertible at a 1:1 ratio into an aggregate of 6,114,027 shares of
common stock, par value $0.01 per share, of the Issuer.
2 Reporting person owns 157,100 shares held in a diversified portfolio
which is managed by European Investors, Inc.
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ITEM 1(a). NAME OF ISSUER
Taubman Centers, Inc.
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ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES
The Taubman Company
200 East Long Lake Road, Suite 3000
P.O. Box 200
Bloomfield Hills, MI 48303-0200
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ITEM 2(a). NAME OF PERSON(S) FILING
SBC Master Pension Trust
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ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE
175 E. Houston Street
San Antonio, TX 78205
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ITEM 2(c). PLACE OF ORGANIZATION
Missouri
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ITEM 2(d). TITLE OF CLASS OF SECURITIES
Common Stock, $0.01 par value
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ITEM 2(e). CUSIP NUMBER
876 664 103
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ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13d-1(b), OR 13d-2(b),
CHECK WHETHER THE PERSON FILING IS A
(a) / / Broker or Dealer registered under Section 15 of the Act
(b) / / Bank as defined in section 3(a)(6) of the Act
(c) / / Insurance Company as defined in section 3(a)(19) of the Act
(d) / / Investment Company registered under section 8 of the Investment
Company Act
(e) / / Investment Adviser registered under section 203 of the Investment
Advisers Act of 1940
(f) /x/ Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of 1974
or Endowment Fund; see Rule 13d-1(b)(1)(ii)(F)
(g) / / Parent Holding Company, in accordance with Rule 13d-1(b)(ii)(G)
(Note: See Item 7)
(h) / / Group, in accordance with Rule 13d-1(b)(1)(ii)(H)
ITEM 4. OWNERSHIP
The following information is provided as of December 16, 1997:
(a) Amount Beneficially Owned:
6,271,127
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(b) Percent of Class:
11.03%
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(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote
6,114,027 (Footnote 1)
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(ii) shared power to vote or to direct the vote
157,100 (Footnote 2)
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(iii) sole power to dispose or to direct the disposition of
6,114,027 (Footnote 1)
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(iv) shared power to dispose or to direct the disposition of
157,100 (Footnote 2)
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_______________
1 Reporting person owns 6,114,027 Units in The Taubman Realty Group
Limited Partnership, a Delaware Limited Partnership, of which the
Issuer is the managing general partner. The Units are immediately
convertible at a 1:1 ratio into an aggregate of 6,114,027 shares of
common stock, par value $0.01 per share, of the Issuer.
2 Reporting person owns 157,100 shares held in a diversified portfolio
which is managed by European Investors, Inc.
Page 3 of 4 pages
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ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
Not applicable.
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ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
Not applicable.
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ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY
Not applicable.
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ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
Not applicable.
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ITEM 9. NOTICE OF DISSOLUTION OF GROUP
Not applicable.
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ITEM 10. CERTIFICATION
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the effect
of changing or influencing the control of the issuer of such securities and
were not acquired in connection with or as a participant in any transaction
having such purposes or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete
and correct.
December 16, 1997
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(Date)
BOSTON SAFE DEPOSIT AND TRUST COMPANY
AS TRUSTEE OF THE SBC MASTER PENSION
TRUST
By: /s/ Robert J. Geiger
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Robert J. Geiger
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
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Page 4 of 4 pages
