Pricing Supplement dated May 30, 1996 Rule 424(b)(3) (To Prospectus dated May 24, 1996 and File no. 33-61383 Prospectus Supplement dated May 24, 1996) NEW PLAN REALTY TRUST Medium-Term Note - Fixed Rate - ----------------------------------------------------------------- Face Amount: $10,000,000 Issue Price: 100% Interest Rate: 7.97% Interest Payment Dates: February 14 and August 14 Regular Record Dates: January 30 and July 30 Stated Maturity Date: August 14, 2026 Denominations (if other than $1000 and integral multiples thereof). _________________ Trade Date: May 29, 1996 Original Issue Date: June 3, 1996 Net Proceeds to Issuer: $9,925,000 Agent's Commission: .75% Name of Agent: Morgan Stanley & Co. Incorporated Agent acting in the capacity indicated below: ___ As Agent x As Principal --- - ----------------------------------------------------------------- Day Count Convention: x 30/360 for the period from June 3, 1996 to August 14, 2026 --- ___ Actual/360 for the period from to ___ Actual/Actual for the period from to ___ Other (see attached) to Redemption: x The Notes cannot be redeemed prior to the Stated --- Maturity Date. ___ The Notes may be redeemed prior to Stated Maturity Date. Initial Redemption Date: Initial Redemption Percentage: % Annual Redemption Percentage Reduction: % until Redemption Percentage is 100% of the Principal Amount. Repayment: ___ The Notes cannot be repaid prior to the Stated Maturity Date. ___ The Notes can be repaid prior to the Stated Maturity Date at the option of the holder of the Notes. Optional Repayment Date(s): Repayment Price: % Original Issue Discount: ___ Yes x No Total Amount of OID: --- Yield to Maturity: Initial Accrued Period: Form: x Book-entry ___ Certified --- - ----------------------------------------------------------------- Lehman Brothers Merrill Lynch & Co. Morgan Stanley & Co. Smith Barney Inc. Incorporated