Jameson Inns, Inc. Announces 2001 Dividend Allocation

Press Release: Jameson Inns, Inc.
January 15, 2002
ATLANTA, GA -- Jameson Inns, Inc. (Nasdaq: JAMS), a hotel real estate investment trust with a portfolio of 124 limited-service hotels, announced yesterday that the characterization of the dividends it paid in 2001 for income tax reporting purposes are:

    Common Stock (JAMS) CUSIP number 470457102:


    Declaration  Record      Paid     Dividend    2001 Ordinary  2001 Return
    Dates        Dates       Dates    Per Share   Income         Of Capital

    12/15/00     12/29/00    2/20/01  $0.245      0.00%            100.0%
    3/15/01       3/30/01    5/18/01  $0.245      0.00%            100.0%
    6/15/01       6/29/01    8/20/01  $0.245      0.00%            100.0%
    9/14/01       9/28/01   11/20/01  $0.245      0.00%            100.0%

                             Totals:   $0.98      0.00%            100.0%


    Preferred Series A (JAMSP) CUSIP number 470457201:

    Declaration  Record      Paid     Dividend    2001 Ordinary   2001 Return
    Dates        Dates       Dates    Per Share   Income          Of Capital


    12/15/00    12/29/00    1/22/01   $0.5781     97.50%            2.50%
    3/15/01      3/30/01    4/20/01   $0.5781     97.50%            2.50%
    6/15/01      6/29/01    7/20/01   $0.5781     97.50%            2.50%
    9/14/01      9/28/01   10/22/01   $0.5781     97.50%            2.50%

                            Totals:   $2.3125     97.50%            2.50%


    Preferred Series S (JAMSO) CUSIP number is 470457300:

    Declaration  Record      Paid     Dividend   2001 Ordinary     2001 Return
    Dates        Dates       Dates    Per Share  Income            Of Capital


    12/15/00   12/29/00    1/22/01    $0.425      97.50%           2.50%
    3/15/01     3/30/01    4/20/01    $0.425      97.50%           2.50%
    6/15/01     6/29/01    7/20/01    $0.425      97.50%           2.50%
    9/14/01     9/28/01   10/22/01    $0.425      97.50%           2.50%

                           Totals:     $1.70      97.50%           2.50%


No part of the dividends in 2001 represented foreign taxes or capital gains.

Jameson Inns, Inc. is a real estate investment trust that focuses on the ownership of limited hotels. The company currently owns 124 hotels containing a total of 8,358 rooms located in fourteen states, and operating as Jameson Inn and Signature Inn. For more information about Jameson Inns, Inc., visit the company's web site at www.jamesoninns.com .

SOURCE: Jameson Inns, Inc.