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                                                                   EXHIBIT 99(b)

                             FROM:   EQK REALTY INVESTORS I
                                     5775 Peachtree-Dunwoody Road 
                                     Suite 200-D 
                                     Atlanta, Georgia 30342 
                                     (404) 303-6100
                                     Contacts:    Gregory R. Greenfield
                                                  Executive Vice President 
                                                  and Treasurer
                                                  or 
                                                  William G. Brown, Jr.
                                                  Vice President and Controller

                             EQK REALTY INVESTORS I
                   ANNOUNCES AGREEMENT TO SELL CASTLETON PARK


FOR IMMEDIATE RELEASE
November 28, 1995

ATLANTA - EQK Realty Investors I (NYSE symbol EKR) today announced that it has
executed a formal agreement of sale for Castleton Park, its 1.1 million square
foot office complex located in Indianapolis, Indiana.  This  agreement follows
the Company's September 11, 1995 announcement of the signing of a letter of
intent to sell Castleton and the substantial completion of due diligence by the
purchaser, who  is an affiliate of a major national real estate advisory firm.

Under the terms of the sale agreement, the purchaser will pay $40,175,000,
subject to final due diligence adjustments, customary prorations, closing costs
and other transaction expenses.  Net proceeds from this sale, which is
anticipated to close on or about December 8, 1995, will be used to repay
outstanding debt.  Pursuant to the agreement of sale, the purchaser has made an
earnest money deposit of $400,000.  Closing is conditioned upon the
satisfactory completion of the purchaser's analysis of tenant estoppels and
title objections.

The Company also announced that it has had substantive discussions with its
lenders concerning an extension of its mortgage debt, which matures on December
15, 1995.  Although a definitive agreement has not yet been reached, the
Company expects that the maturity date of the loans will be extended by 12
months.  Terms of such an extension are expected to be substantially similar to
those currently in effect.

Upon completion of the sale of Castleton Park, the Company's remaining real
estate investment will be Harrisburg East Mall in Harrisburg, Pennsylvania.