Press Release: Jameson Inns, Inc.
August 7, 2000
ATLANTA, GA -- Jameson Inns, Inc. (Nasdaq: JAMS), a hotel real estate investment trust (REIT), and owner of Jameson
Inns and Signature Inns, today announced a share repurchase program of up to $10 million of its outstanding stock.
The buy back was approved at Jameson's board of directors meeting held July 27, 2000. Most repurchases will probably
be for shares of Jameson's preferred stock, but they may include its common stock as well.
Purchases will be made in the open market or in privately negotiated transactions from time to time, and will depend
on market conditions, business opportunities and other factors.
``We believe that with the current depressed market prices and high dividend rates of our stock, the repurchase
of our shares is a sound investment strategy,'' said Craig Kitchin, President and Chief Financial Officer of Jameson
Inns.
Jameson Inns, Inc. is a real estate investment trust that develops and owns the Jameson Inn and Signature Inn brands.
The Jameson Inns are colonial- style, limited service hotel properties in the Southeast. Signature Inns are larger,
limited service hotel properties primarily in the Midwest. Jameson Inns, Inc. currently has 119 operating inns
consisting of 94 Jameson Inns and 26 Signature Inns with over 7,700 rooms. All of the inns are leased to and operated
by Jameson Hospitality, LLC. For reservations or a copy of the Jameson Inn directory, call 1-800-Jameson or visit
us on the Web at www.jamesoninns.com.
SOURCE: Jameson Inns, Inc.