Hallwood Realty Partners, L.P. Announces Completion of Merger

Hallwood Realty Partners, L.P. Announces Completion of Merger



DALLAS, July 16  /PRNewswire-FirstCall/ -- Hallwood Realty Partners, L.P.
(AMEX:HRY) ("the Partnership") today announced the completion of the merger of
the Partnership with a wholly-owned subsidiary of HRPT Properties Trust. The
merger was approved by the Partnership's unitholders at the Special Meeting of
Unitholders held July 15, 2004.  As a result of the merger, the Partnership
will no longer be a publicly traded limited partnership.

At the special meeting, holders of approximately 53.74% of the outstanding
units voted to approve the merger.  In the merger, unitholders will receive an
amount per unit in cash equal to $136.70 per unit of limited partnership
interest.  Of this amount $0.31 will be withheld subject to the award of
attorneys' fees to the class counsel in the I.G. Holdings litigation.
Unitholders will receive a letter of transmittal with instructions from the
paying agent informing them how to exchange their units for the merger
consideration.  It is anticipated that the letters of transmittal will be sent
to unitholders in the next few days. 

DATASOURCE: Hallwood Realty Partners, L.P.



CONTACT:  investors, Bob Marese of MacKenzie Partners, Inc.,

[phone], or media, Roy Winnick of Kekst and Company, [phone],

both for Hallwood Realty Partners, L.P.



Web site:  http://www.hallwood.com/hrp 

Copyright