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February 21, 2001

* G&L Realty Corp. chief executive Daniel M. Gottlieb and president Steven D. Lebowitz have raised their buyout bid for the Beverly Hills-based company by 10% to $11 a share. Gottlieb and Lebowitz own about 29% of the real estate investment trust but can boost their combined holdings to 43% by converting other securities to G&L common stock.

* Chatsworth-based MRV Communications Inc., a maker of optical components and network infrastructure systems, reported fiscal fourth-quarter net income of $4.5 million, or 6 cents per share, compared with $5.2 million, or 8 cents, a year ago. Revenue rose 18% to $97.7 million.

* Auto racing marketer Championship Auto Racing Teams Inc. has opened a Los Angeles office in a bid to extend the group's presence in the entertainment industry. California Speedway executive Jay Lucas will head the local operation. The company markets the FedEx Championship car-racing series.

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