READING &lt;RDGC> TO SELL PHILADELPHIA PROPERTIES

  Reading Co said it has agreed in
  principle to convey properties it owns in and around the
  Philadelphia Convention Center site to the city of Philadelphia
  and the Philadelphia Convention Center Authority.
      It said in exchange it will receive about 23 mln dlrs in
  cash, rights to acquire 22 acres adjacent to the Philadelphia
  International Airport and an option to acquire the development
  rights over the Gallery II shopping mall on Market Street in
  downtown Philadelphia.
      Reading said it will be responsible for the demolition and
  cleanup of certain of the properties, for which a portion of
  the cash proceeds will be escrowed.
      The company said it will continue to own and operate the
  Reading Terminal Market in Philadelphia.
      The land it is giving up amounts to about seven acrease and
  includes part of the Reading Terminal Train Shed, it said.
  

