Press Release
October 16, 2000
BOCA RATON, FL -- Janus Hotels and Resorts, Inc. (Nasdaq:JAGI), a Florida-based hospitality company, announced
Oct. 13 that its Board of Directors has authorized the repurchase of up to one million (1,000,000) shares of the
Company's outstanding common stock.
The purchases will be made from time to time, in the Company's discretion, as market and business conditions warrant,
in open market transactions. All purchases are subject to the availability of shares and, accordingly, there is
no guarantee as to the timing or number of shares to be repurchased.
Janus also announced the release of certain stockholders from an agreement restricting the ability of such stockholders
from selling their stock. This will result in approximately 5,658,060 shares of common stock becoming available
for sale. Janus is not aware whether any shareholders, previously subject to such restrictions, will seek to sell
all or any portion of their shares.
Janus Hotels and Resorts Inc. is engaged in the business of management and ownership of hospitality properties.
The Company currently owns fifteen hotels and manages forty hotels totaling approximately 8,500 rooms under its
management.
When used in Janus' press releases and in oral statements made with the approval of an authorized executive officer
of Janus, the words or phrases ``expects'', ``plans'', ``outlook'', will likely result`` or similar expressions
(including confirmations by an authorized executive officer of Janus of any such expressions made by a third party
with respect to Janus) are intended to identify forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Janus wishes to caution readers not to place undue reliance on any such forward-looking
statements, each of which speak only as of the date made. Janus has no obligation to publicly release the results
of any revisions which may be made to any forward-looking statements to reflect anticipated or unanticipated events
or circumstances occurring after the date of such statements.
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Contact:
Janus Hotels and Resorts, Inc., Boca Raton
Eric L. Glazer, General Counsel, 561/997-2325
E-mail: eglazer@janushotels.com