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Jameson Inns, Inc. Reports ADR, Occupancy and REVPAR for October 2002

Press Release: Jameson Inns, Inc.
November 19, 2002
ATLANTA, GA -- Jameson Inns, Inc. (Nasdaq: JAMS), a hotel real estate investment trust (REIT), and owner of Jameson Inn and Signature Inn hotels, yesterday announced that revenue per available room ("REVPAR") was $32.72 in October, a $.14 increase from October 2001. Average daily rate increased 1.3% for the month while occupancy declined .5 points.

                           Occupancy        Average Daily         REVPAR
                                                 Rate
          Brand            2002    2001     2002     2001     2002     2001

       Jameson Inns        58.5%  55.5%   $59.73   $58.61   $34.93   $32.54
       Signature Inns      43.8%  50.5%   $65.55   $64.62   $28.71   $32.64
       Combined
        Brands             53.2%  53.7%   $61.44   $60.66   $32.72   $32.58

Smith Travel Research recently reported that preliminary October figures show REVPAR flat to declining 2% for the economy segment, where the majority of our hotels are categorized. STR has also estimated a 5%-7% improvement in the total U.S. lodging industry for the month, due mainly to significantly favorable comparisons of hotels categorized in the upscale segments which had experienced large REVPAR declines in October 2001.

Commenting on the October results, CEO Thomas W. Kitchin stated, "Jameson Inns continues to outperform the trends in our industry. Not only did we see increases in our REVPAR Company wide, but because of the comfortable atmosphere, the quality of our Inns and Jameson's total value package our customers are willing to pay a higher average room rate."

Jameson Inns, Inc. is a REIT that develops and owns the Jameson Inn and Signature Inn limited service hotel properties. For more information, visit the Company's website at www.jamesoninns.com .

Forward-Looking Statements

Certain matters discussed in this press release are forward-looking statements within the meaning of federal securities regulations. All forward- looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual transactions, results, performance or achievements to be materially different from any future transactions, results, performance or achievements expressed or implied by such forward-looking statements. General economic conditions, competition, and governmental actions will affect future transactions, results, performance, and achievements. These risks are presented in detail in our filings with the Securities and Exchange Commission. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that our expectations will be attained or that any deviations will not be material. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect any future events or circumstances.

Source: Jameson Inns, Inc.