DALLAS, July 9, 2001 (PRIMEZONE) -- American Realty Investors, Inc. (NYSE:ARL) announced Monday that two independent members of the company's board chose to not stand for re-election at the Annual Meeting of Shareholders held earlier today. The remaining five directors, two affiliated and three independent, were re-elected by a large majority.
Elected to continue their board service until the 2002 Annual Meeting were Karl L. Blaha, Mark W. Branigan, Collene Currie, Richard D. Morgan and Joseph Mizrachi. Currie, Morgan and Mizrachi are independent directors.
Roy E. Bode and Cliff Harris served as directors of ARI since the formation of the company in August 2000 and previously served on the board of American Realty Trust, Inc., one of the two entities that merged last year to form American Realty Investors. Bode was appointed to the ART board in 1996; Harris was appointed to the same board in 1997.
American Realty Investors, Inc., a Dallas-based real estate investment company, holds a diverse portfolio of equity real estate located across the U.S., including office buildings, apartments, hotels, shopping centers, and developed and undeveloped land. The company also has interests in mortgage loans and real estate-related entities. For more information on the company, go to www.amrealtytrust.com .