"The purpose is to offer investors an additional means of portfolio diversification in a strategy in which the Malkin family has invested successfully for several years," says Anthony E. Malkin, president of W&M Properties. He adds, "We believe there is a place for this type of investing in a sophisticated investor's overall portfolio. We will be adding to our already significant exposure on the same terms as the limited partners."

Special Accreditation Required

Qualified Wien & Malkin investors will soon receive special accreditation questionnaires to confirm they meet the more in-depth tests required by regulators to participate in this offering.

It is envisioned that partnership units of $250,000 each, with partial units considered at the discretion of the general partner, will be made available to those wishing the opportunity to profit from both long and short positions in publicly traded real estate and real estate related securities. The fund would be based on an investment manager's track record that has historically profited from taking advantage of pricing inefficiencies in publicly traded stocks.

Periodic Investment Adjustments

The fund, as currently contemplated, would permit investors to make additional investments and periodic withdrawals.

Wien & Malkin investors who want to assure they are on the mailing list for the investor questionnaire, should please contact Ned H. Cohen, vice president of Wien & Malkin Securities Corp., at (212) 850-2695 or ncohen@wmsecurities.com.