Security Capital Announces Final Results of Self-Tender Offer

Apr 24, 2001, 01:00 ET from Security Capital Group Incorporated

    CHICAGO, April 24 /PRNewswire/ -- Security Capital Group Incorporated
 (NYSE:   SCZ) announced today the final results of its modified Dutch auction
 self-tender offer, which expired April 17, 2001.  Security Capital will
 purchase 9,302,326 shares of Class B Common Stock at a purchase price of
 $20.50 per share, or a total of approximately $191 million.   The final
 results represent proration at approximately 78.5% of those shares tendered at
 or below the purchase price.  All shares purchased in the tender offer will
 receive the same price.
     Payment for shares accepted for purchase, and return of all other shares
 tendered but not accepted for payment, will occur promptly by the depositary.
 As a result of the completion of the tender offer, Security Capital has
 approximately 139 million shares issued and outstanding as of the time
 immediately following payment for the tendered shares.  Security Capital has
 approximately $44 million remaining on the company's current $250 million
 share repurchase program.
     Morgan Stanley acted as dealer manager for the tender offer.
 
     Security Capital is a leading international real estate operating and
 investment management company.  The company's strategy is to own all or a high
 percentage of a few real estate businesses that function as private operating
 divisions and to eliminate the discount to the underlying value of its assets.
 Security Capital currently has ownership positions in 13 real estate
 businesses.  The company plans to reposition or sell its investment in several
 of these businesses and focus its capital in those that hold one of the top
 two market positions in their specific niche and are able to create measurable
 brand value, as well as generate significant income from services and managed
 capital.  Security Capital will build on the operating strengths of the
 remaining private divisions to achieve superior sustainable financial results.
 The principal offices of Security Capital and its directly owned affiliates
 are in Atlanta, Brussels, Chicago, El Paso, Houston, London, Luxembourg, New
 York and Santa Fe.
 
 

SOURCE Security Capital Group Incorporated
    CHICAGO, April 24 /PRNewswire/ -- Security Capital Group Incorporated
 (NYSE:   SCZ) announced today the final results of its modified Dutch auction
 self-tender offer, which expired April 17, 2001.  Security Capital will
 purchase 9,302,326 shares of Class B Common Stock at a purchase price of
 $20.50 per share, or a total of approximately $191 million.   The final
 results represent proration at approximately 78.5% of those shares tendered at
 or below the purchase price.  All shares purchased in the tender offer will
 receive the same price.
     Payment for shares accepted for purchase, and return of all other shares
 tendered but not accepted for payment, will occur promptly by the depositary.
 As a result of the completion of the tender offer, Security Capital has
 approximately 139 million shares issued and outstanding as of the time
 immediately following payment for the tendered shares.  Security Capital has
 approximately $44 million remaining on the company's current $250 million
 share repurchase program.
     Morgan Stanley acted as dealer manager for the tender offer.
 
     Security Capital is a leading international real estate operating and
 investment management company.  The company's strategy is to own all or a high
 percentage of a few real estate businesses that function as private operating
 divisions and to eliminate the discount to the underlying value of its assets.
 Security Capital currently has ownership positions in 13 real estate
 businesses.  The company plans to reposition or sell its investment in several
 of these businesses and focus its capital in those that hold one of the top
 two market positions in their specific niche and are able to create measurable
 brand value, as well as generate significant income from services and managed
 capital.  Security Capital will build on the operating strengths of the
 remaining private divisions to achieve superior sustainable financial results.
 The principal offices of Security Capital and its directly owned affiliates
 are in Atlanta, Brussels, Chicago, El Paso, Houston, London, Luxembourg, New
 York and Santa Fe.
 
 SOURCE  Security Capital Group Incorporated