TIMBER REALIZATION <TRX> TO SELL REMAINING ACRES
Timber Realization Co said it has
agreed to sell its remaining 50,000 acres of timberland
property in Mississippi for about 11.3 mln dlrs in cash.
    Timber Realization, a limited partnership formed to dispose
of timberlands and related properties transferred to it by the
<Masonite Corp>, said that when this sale is completed the
partnership will have received about 15.2 mln dlrs in cash and
notes from the sale of its properties since December 23, 1986.
    The partnership said it will terminate before August 3,
1987.
    Prior to that date, the partnership said it expects to form
a liquidating trust to provide for unresolved claims and
liablities.
    Timber Realization said the amount retained in that trust
will depend on its experience in resolving open items up to the
termination date, but it added it expects to retain a
substantial amount in the trust.
    The partnership said it anticipates making a cash
distribution of an as yet undetermined amount to unitholders at
or before the liquidation trust's funding date.
   
 Reuter
