Pricing Supplement dated August 9, 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 - Floating Rate - ----------------------------------------------------------------- Face Amount: $10,000,000 Issue Price: 100% Initial Interest Rate: 5.58906% Base Rate: 3-month LIBOR (Telerate Page 3750) Spread:					+ 5 bps Interest Reset Dates:			Quarterly on the 3rd of each February, 					May, August and November, commencing 					on November 3, 1996 Interest Payment Dates: Quarterly on the 3rd of each February, 					May, August and November Stated Maturity Date: August 3, 1998 Denominations (if other than $1000 and integral multiples thereof). _________________ Trade Date: August 6, 1996 Original Issue Date: August 9, 1996 Net Proceeds to Issuer: 99.80% Agent's Discount/Commission: 00.20% Name of Agent: Merrill Lynch & Co. Agent acting in the capacity indicated below: ___ As Agent x As Principal --- - ----------------------------------------------------------------- Day Count Convention: 30/360 for the period from to --- x Actual/360 for the period from August 9, 1996 to ___ August 3, 1998 ___ 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: x --- 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: 	x Form: --- Book-entry ___ Certified