1
                                                                      EXHIBIT 20
   2


FOR IMMEDIATE RELEASE



Contact for RPS:                  Edwin Frankel
                                  RPS Realty Trust
                                  (212) 370-8561

Contact for Ramco:                Dennis Gershenson
                                  Ramco-Gershenson, Inc.
                                  (810) 350-9900


                  RPS REALTY TRUST AND RAMCO-GERSHENSON, INC.
                                TO JOIN FORCES;
                         RPS TO BECOME AN EQUITY REIT     


                 New York, New York, and Southfield, Michigan, July 14, 1994 --
RPS Realty Trust (NYSE: RPS) and Ramco-Gershenson, Inc. jointly announced today
that they have reached an agreement in principle to effectuate a business
combination through an operating limited partnership.

                 As contemplated by the letter of intent executed by both
parties, Ramco will contribute 22 shopping center properties, containing
approximately 3,900,000 leasable square feet, and stock in its property
management corporation, while RPS will contribute seven retail properties,
containing approximately 970,000 leasable square feet, and $75,000,000 in cash,
to the operating partnership.  This will result in the operating partnership
owning and managing shopping centers and other retail properties containing
almost 5,000,000 leasable square feet.
   3
                 RPS will be the sole general partner of the operating
partnership and will hold between 63% and 70% of the interests in the operating
partnership, and Ramco will hold between 30% and 37%.  The percentage interests
to be received by the parties are based upon the relationship between the
agreed upon values of the assets contributed by the parties, and are subject to
adjustment based on changes in funds from operations attributable to the Ramco
properties.  It is also contemplated that prior to consummation of the
transaction, RPS will dispose of its mortgage loan assets through prepayments,
sales or a spin-off of such assets to RPS' shareholders.

                 The proposed business combination, which is currently
anticipated to close late in the fourth quarter of 1994 or early in the first
quarter of 1995, is subject to the completion of due diligence investigations
by both parties and the preparation of definitive documentation, and is subject
to a number of conditions, including RPS' Board of Trustees and shareholder
approval, receipt of a fairness opinion from RPS' financial advisor,
disposition of RPS' mortgage loan assets or consummation of the spin-off
transaction, and the refinancing of certain Ramco property debt on specified
terms.  The transaction is also subject to the condition that, based on future
changes in funds from operations from the Ramco properties, Ramco's interest in
the operating partnership will not be less than 30%.




                                       2
   4
                 Upon consummation of the transaction, it is anticipated that
RPS' headquarters will move to Southfield, Michigan and RPS will change its
name to Ramco-Gershenson Properties Trust.

                 "The agreement with Ramco-Gershenson represents the successful
culmination of management's efforts to convert RPS into an equity REIT," said
Herbert Liechtung, President of RPS.  "Management believes that the proposed
transaction with Ramco- Gershenson will create an attractive portfolio of
retail properties managed by a well-respected experienced organization which
has exhibited significant development capabilities."

                 "Upon completion of this transaction, we will achieve many of
the benefits of 'going public' without the need to raise equity in the IPO
marketplace," said Dennis Gershenson, who will become CEO of the Trust upon
completion of the proposed transaction.  "We at Ramco-Gershenson believe that
this combination will provide the Trust with access to the capital markets that
will ensure its continued growth and success in the shopping center industry."

                 Ramco-Gershenson, Inc., which is controlled by principals
Joel, Dennis, Richard and Bruce Gershenson and partner Michael Ward, is located
in Southfield, Michigan, and has more than 40 years experience as a fully
integrated shopping center developer.  The company has developed over 70
shopping centers throughout its history, from super regional centers to free
standing promotional department stores.




                                       3