Berkshire Completes Exchange Offers

Berkshire Income Realty Inc., Boston, an affiliate of the Krupp Funds Group, has announced the completion of the last of six exchange offers for its 9% series A cumulative redeemable preferred stock.The offers were made to the holders of interests in six Krupp funds: Krupp Government Income Trust; Krupp Government Income Trust II; Krupp Insured Plus LP; Krupp Insured Plus II LP; Krupp Insured Plus III LP; and Krupp Insured Mortgage LP. The last offer, for Krupp Insured Mortgage, involved an exchange of 0.0750 share of the preferred stock for each of up to 5.0 million shares of KIM, Berkshire said. Approximately 4.16 million shares were validly tendered (and not withdrawn) under the offer, representing about 27.8% of KIM's outstanding shares. Berkshire, a real estate investment trust formed to acquire, own, and operate multifamily residential properties, can be found on the Web at http://www.berkshire-group.com.