American Stock Exchange Initial Public Offering of RMR Preferred Dividend Fund

American Stock Exchange Initial Public Offering of RMR Preferred
Dividend Fund 


NEW YORK, May 26  /PRNewswire/ -- The American Stock Exchange(R) (Amex(R))
today began trading common shares of RMR Preferred Dividend Fund under the
ticker symbol RDR.

RMR Preferred Dividend is a newly organized, non diversified, closed-end
management investment company.  Its primary investment objective is to provide
high current income to its common shareholders; capital appreciation is its
secondary objective.  RMR Preferred Dividend Fund attempts to achieve its
objectives by investing primarily in publicly traded preferred securities.  It
is anticipated that 50% of assets will be invested in preferred securities of
Real Estate Investment Trusts (REITs).

"We are pleased to welcome RMR Preferred Dividend Fund to the American Stock
Exchange," said Tom Rzepski, Vice President of the Amex's closed-end fund
business. "The investment advisor of the new fund is RMR Advisors, Inc. RMR
Preferred Dividend Fund is the fourth closed-end fund RMR Advisors has listed
on the Amex. The Amex looks forward to a long and collaborative relationship
with RMR Advisors as we continue to provide investors with a variety of
innovative investment opportunities."

With an initial share price of $20 for the RMR Preferred Dividend Fund, the
approximate initial value of the 2.6 million shares priced today is $52.7
million, including the underwriter's over allotment option.  The underwriting
syndicate is led by RBC Capital Markets and Wachovia Securities. The specialist
in the new fund is Weiskopf, Silver & Co.

The American Stock Exchange currently lists 150 closed-end funds with over $27
billion in assets.  For additional information on this fund or other Amex-
listed closed-end funds, please call 1-800-THE-AMEX.

The American Stock Exchange(R) (Amex(R)) is the only primary exchange that
offers trading across a full range of equities, options and exchange traded
funds (ETFs), including structured products and HOLDRS(SM). In addition to its
role as a national equities market, the Amex is the pioneer of the ETF,
responsible for bringing the first domestic product to market in 1993. Leading
the industry in ETF listings, the Amex lists 156 ETFs to date. The Amex is also
one of the largest options exchanges in the U.S., trading options on
broad-based and sector indexes as well as domestic and foreign stocks. 

DATASOURCE: The American Stock Exchange



CONTACT: Mary Chung of the American Stock Exchange, [phone], or

 



Web site:  http://www.amex.com/

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