(CORRECTED)-Downey sold real estate assets for $110 mln
(corrects headline to show that real estate assets have been sold)
Sept 5 (Reuters) - Downey Financial Corp (DSL.N: Quote, Profile, Research, Stock Buzz)
* Says sale of certain non-core real estate assets to third party aggregate cash raise proceeds of $110 million
* Part of its agreement with regulators to enhance financial strength by year end
* Expects to report net pre-tax gain of approximately $68 million from the sale
* Says sale and dividend from a subsidiary raises $109 million toward increasing regulatory capital
* Says board and management will continue to diligently explore a broad range of strategic alternatives
* Says orders require it must complete a capital raising initiative by Dec. 31, 2008
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Paulson on defense
