SOUTHMARK <SM> TO ISSUE AMERICAN REALTY RIGHTS
Southmark Corp said shareholders will be
issued, as a special dividend, rights to acquire 22 shares of
American Realty Trust <ARB> for each 100 shares of Southmark
owned.
    The record date for Southmark shareholders to receive these
rights will be May one with an ex-dividend date of April 27.
    Southmark received these rights on April six, as the holder
of about 84 pct of American Realty Trust's outstanding shares.
   
 Reuter
