RAINIER REALTY <RRETS.O> NOTE INTEREST RAISED
Rainier Realty Investors said Rainier
Bancorp <RBANK.O> has agreed to increase the interest rate on
the notes the bank would offer in connection with the trust's
proposed liquidation to 8-1/4 pct from eight pct.
    The trust said it had asked for the increase to partly
compensate for a recent rise in interest rates.  It said
shareholders will continue to have the option of taking 9.14
dlrs in cash for each of their shares, rather than seven-year
Rainier notes with a principal value of 10 dlrs.  Shareholders
weill vote on the proposal at a special meeting to be held July
15.
 Reuter
