Press Release
November 17, 2000
SILVER SPRING, MD -- Sunburst Hospitality Corporation (NYSE:SNB), a hotel ownership and management company, announcedYesterday
that it has set 5 pm EST on November 22, 2000 as the record date for stockholders entitled to vote at the upcoming
special meeting being called to vote on a Recapitalization Agreement.
The Recapitalization Agreement provides for the acquisition of all outstanding publicly held shares of common stock
of Sunburst at a price of $7.375 per share in cash. The date of the special meeting has not been set, but is expected
to occur in late December. Sunburst has filed preliminary proxy materials with the Securities and Exchange Commission
and will mail the proxy statement after the SEC completes its review, which is expected to be in the next few weeks.
Stockholders are advised to read Sunburst's proxy statement when it is available because it will contain important
information about the transaction and the conflicts of interest of certain directors and officers. Stockholders
may obtain a free copy of Sunburst's preliminary proxy statement (which is subject to change) and any other relevant
documents on the U.S. Securities and Exchange Commission's web site at www.sec.gov.
Contact: Sunburst Hospitality Doug Verner, Senior Vice President and General Counsel 301/592-3895