AMERICAN REALTY &lt;ARB> SETS RECORD DATE FOR OFFER

  American Realty Trust said its board has
  set April 3 as the record date for its previously announced
  rights offering, and the rights will be issued on April 6 and
  expire May 22.
      Shareholders will be able to subscribe for 1.25 shares for
  each share held, at a price of 3.75 dlrs per share.
  

