TriNet REIT Prunes Portfolio

TriNet Corporate Realty Trust, San Francisco, has identified a number of assets in its portfolio it plans to dispose of in order to reduce leverage ratios and free up cash for future high-yielding acquisitions."In order to take advantage of generally favorable conditions for property sales, we have determined it is time to harvest the value from a selection of TriNet's assets which have appreciated in value and also to prune away non-core assets to mitigate exposure to certain tenant, market, or lease expiration risks," said chairman and CEO Robert W. Holman. In a move to reduce the company's budgeted general and administrative and property operating expenses, the company has reduced its acquisition volume, cut acquisition staff by 47%, and reduced staff in other departments by approximately 8.6%. The company hopes to reduce costs by 19%, or $0.13 per share, in 1999. TriNet invests primarily in corporate office and industrial properties. TriNet's website address is http://www.tricorp.com.