SOUTHMARK &lt;SM> TO ISSUE AMERICAN REALTY RIGHTS
  Southmark Corp said shareholders will be
  issued, as a special dividend, rights to acquire 22 shares of
  American Realty Trust &lt;ARB> for each 100 shares of Southmark
  owned.
      The record date for Southmark shareholders to receive these
  rights will be May one with an ex-dividend date of April 27.
      Southmark received these rights on April six, as the holder
  of about 84 pct of American Realty Trust's outstanding shares.
  

