California Public Employees Retirement System – ‘SC 13D/A’ on 10/10/97 re: Catellus Development Corp/Old – EX-16

As of:  Friday, 10/10/97   ·   Accession #:  950150-97-1413   ·   File #:  5-41228

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Amendment to General Statement of Beneficial Ownership   —   Schedule 13D
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13D/A    Schedule 13D, Amendment No. 10                         4     13K 
 2: EX-16       Joint Press Release of Calpers and the Issuer          2      8K 

EX-16   —   Joint Press Release of Calpers and the Issuer

EX-16
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NEWS

                                        CATELLUS DEVELOPMENT CORPORATION
                          201 MISSION STREET
                                       SAN FRANCISCO, CALIFORNIA 94105

CONTACT:         Catellus Development Corporation                               
Jennifer Ruddock                              
415/974-4649                                  

California Public Employees' Retirement System
   Office of Public Affairs - Pat Macht/Brad Pacheco
916/326-3991                                  

CATELLUS DEVELOPMENT CORPORATION AND CalPERS

ANNOUNCE PROPOSED PUBLIC OFFERING OF COMMON STOCK 

San Francisco, California, October 8, 1997 -- Catellus Development Corporation  
and the California Public Employees' Retirement System ("CalPERS") today        
jointly announced that CalPERS had requested that Catellus file a registration  
statement in connection with a proposed underwritten public offering of a       
portion of Catellus common stock currently held by CalPERS.  Of the more than   
37,750,000 shares of Catellus common stock currently held by CalPERS, the       
registration statement will include 16,500,000 shares (plus an additional       
2,475,000 shares to cover over-allotments), or approximately one-half of        
CalPERS' holdings.  CalPERS' request was made in accordance with an existing    
registration rights agreement.  The registration statement is expected to be    
filed with the Securities and Exchange Commission within the next several       
weeks.                                                                          

               CalPERS simultaneously filed an amendment to its 13D with the
SEC.  In that filing, CalPERS stated that the proposed sale of a portion of its 
common stock is intended to further the ongoing diversification of its $6.4     
billion real estate portfolio while continuing to invest in Catellus.  If all   
the shares to be registered are sold, immediately after the public offering     
CalPERS would continue to hold in excess of 18,775,000 shares, or approximately 
18% of the outstanding Catellus common stock, which will represent a            
significant component of CalPERS' strategic commitment to real estate           
investment in                                                                   

Page 5 of 6 Pages     

EX-16
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California.  CalPERS said that it will continue to hold those shares as an      
investment, and will continue to review and evaluate its investment in the      
common stock of the company in conjunction with the overall management of its   
real estate portfolio.                                                          

              Offers of the shares of common stock covered by the proposed
registration statement will be made only by means of a prospectus.  The common  
stock covered by the proposed registration statement may not be sold nor may    
offers to buy be accepted prior to the time the registration statement becomes  
effective.  This press release shall not constitute an offer to sell or the     
solicitation of any offer to buy nor shall there be any sale of the shares of   
common stock in any state in which such offer, solicitation or sale would be    
unlawful prior to registration or qualification under the securities laws of    
any such state.                                                                 

Page 6 of 6 Pages 

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘SC 13D/A’ Filing		Date		First		Last			Other Filings
Filed on:		10/10/97
		10/8/97		1					SC 13D/A
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