FIRST UNION &lt;FUR> LEAVES DIVIDEND UNCHANGED

  First Union Real Estate Investments
  said its board left the quarterly dividend unchanged at 37-1/2
  cts per share, payable April 30, record March 31.
      The trust, which has raised its quarterly dividend
  frequently in the past two years and in the first quarter in
  both years, said the Tax Reform Act of 1986 has limited its
  flexibility on dividends, and trustees will now consider the
  appropriateness of any dividend increases only during the later
  quarters of the year.
  

