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EXHIBIT 99(a)
News Release
For further information: Fred Nachman
Michael K. Kaline Marjan Communications Inc.
Vice President 312/867-1771
248/644-7110
FOR IMMEDIATE RELEASE
MALAN REALTY INVESTORS ANNOUNCES NEW EXECUTIVE LEADERSHIP
BINGHAM FARMS, MICH., JULY 24 /PRNewswire/ -- MALAN REALTY INVESTORS,
INC. (NYSE: MAL), a self-administered real estate investment trust (REIT), today
announced that its board of directors has elected to pursue new executive
leadership. Anthony S. Gramer, formerly president and chief executive officer,
is no longer with the company. Effective immediately, Michael K. Kaline, vice
president, will handle Mr. Gramer's responsibilities until further management
appointments are made.
Paul Gray, chairman of Malan's board of directors, said, "The board is
confident that Malan's management team is well prepared to lead the company
until the offices previously occupied by Mr. Gramer are filled. We wish Tony
well in his future endeavors."
Malan Realty Investors, Inc. owns, acquires, redevelops and manages
properties that are leased primarily to national and regional retail companies.
The company owns a portfolio of 64 properties located in 9 states that contains
an aggregate of approximately 5.9 million square feet of GLA.
News releases for Malan Realty Investors are available on the
company's web site at http://www.malanreit.com or through Company News On-Call
by fax at (800) 758-5804, ext. 114165, or http://www.prnewswire.com.
