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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities and Exchange Act of 1934
Date of Report: January 25, 1999
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(Date of earliest event reported)
Commission File Number 1-12486
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ASSOCIATED ESTATES REALTY CORPORATION
(Exact name of registrant as specified in its charter)
OHIO 34-1747603
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(State or other Jurisdiction of (IRS Employer
Incorporation or organization) Identification
Number)
5025 Swetland Court, Richmond Heights, Ohio 44143-1467
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(Address of Principal Executive Offices) (Zip Code)
(216) 261-5000
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(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
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Associated Estates Realty Corporation (the "Company")
issued a news release on January 25, 1999, announcing that it is
determining the necessity of restating prior 1998 quarterly
results to reflect the effect of increased accruals for property
tax reassessments and increased millage rates in several Ohio
communities. The total amount of all prior period adjustments is
not expected to exceed $950,000, and will not have a negative
impact on the fourth quarter earnings. As a result, the release
of fourth quarter 1998 earnings that was originally scheduled for
Tuesday, January 26, 1999 has been rescheduled to Wednesday,
February 3, 1999.
ITEM 7: FINANCIAL STATEMENTS AND EXHIBITS
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Financial Statements
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None
Exhibits
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99 Associated Estates Realty Corporation News Release No.
99-03 dated January 25, 1999.
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange
Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly authorized.
Associated Estates Realty
Corporation
Date: January 28, 1999 /s/ Kathleen L. Gutin
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Kathleen L. Gutin
Vice President, Chief Financial
Officer, and
Chief Accounting Officer
C:\8K\1999\8K_199.COU 3
EXHIBIT 99
ASSOCIATED ESTATES REALTY CORPORATION
4TH QUARTER EARNINGS ANNOUNCEMENT RESCHEDULED
NEWS RELEASE NO. 99-03
On January 25, 1999, Associated Estates Realty Corporation
(NYSE:AEC) announced that it is determining the necessity of
restating prior 1998 quarterly results to reflect the effect of
increased accruals for property tax reassessments and increased
millage rates in several Ohio communities. The total amount of all
prior period adjustments is not expected to exceed $950,000, and
will not have a negative impact on the fourth quarter earnings.
As a result, the release of fourth quarter 1998 earnings
that was originally scheduled for Tuesday, January 26, 1999 has
been rescheduled to Wednesday, February 3, 1999. A conference
call to review the quarterly results is also scheduled for
February 3 at 10:00 am EST. The number for the conference call
is 888-850-2545. A replay of the call will also be available
from February 3 at 4:30 pm EST until Friday, February 5 at 5:00
pm EST by dialing 402-530-0498. For more information, contact
Investor Relations at 1-800-440-2372, ext. 8752, or access the
Company's web site on the Internet at www.aecrealty.com.
Associated Estates Realty Corporation is a real estate
investment trust ("REIT"), headquartered in Richmond Heights,
Ohio, a suburb of Cleveland. The Company specializes in the
development, acquisition, ownership and management of multifamily
properties and currently owns, manages, or is a joint venture
partner in more than 150 multifamily properties located in 14
states.
For more information, please call Barbara E. Hasenstab, Vice
President of Investor Relations, at 216-797-8798. This press
release and other corporate information are also available on
AEC's home page at www.aecrealty.com.
