Golf Trust of America, Inc. Announces the Engagement of Banc of America Securities, Inc

Business Wire, Feb 9, 2000

CHARLESTON, S.C.--(BUSINESS WIRE)--Feb. 9, 2000

Golf Trust of America, Inc. (AMEX:GTA), today announced that it has engaged Banc of America Securities, LLC to act as its financial advisor to undertake a review of a broad range of strategic alternatives available to the company, in light of the current and prospective market conditions facing the Company and REIT industry.

Golf Trust of America, Inc. is a self-administered real estate investment trust involved in the acquisition and ownership of high-quality golf courses in the United States. The Company currently owns an interest in 47 (eighteen-hole equivalent) courses.

Certain matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statement due to a number of factors including general economic conditions, competition for golf course acquisitions, the availability of equity and debt financing, interest rates and other risk factors as outlined in the Company's SEC reports, including the prospectus dated November 4, 1997 and the annual report on Form 10-K/A dated March 31, 1999.