PACIFIC LIGHTING &lt;PLT> CONSIDERS UNIT SALE

  Pacific Lighting Corp said it is
  considering the sale of its land development line of business
  and will be initiating discussions with potential buyers.
      The book value of the company's investment in land
  development operations is 224 mln dlrs. The Pacific Lighting
  Real Estate Group earned 24.2 mln dlrs and employed 800 people
  during 1986, the company said.
      Alternatives to the sale being considered include a master
  limited partnership and an initial public offering of the
  equity in the land development companies, it said.
      Proceeds from the sale would likely be invested in Pacific
  Lightings' new specialty retailing line of business and its oil
  and gas operations, the company said.
      The investment banking firm Morgan Stanley has been
  retained to advise Pacific Lighting on the disposition of the
  land development operations.
      Completion of a transaction, it one is made, is expected by
  the end of the year, the company said.
  

