Press Release: Crestline Capital Corporation
October 3, 2001
BETHESDA, MD -- Crestline Capital Corporation (NYSE: CLJ) announced yesterday that it has terminated its self tender
offer for up to 2.82 million shares of the company's outstanding common stock at a price of $26.60 per share. The
Company said that it terminated the tender offer due to the volatility in the Company's stock price and the general
uncertainty in the stock market.
The Company said it may consider making repurchases under its existing stock repurchase program. The Company may
purchase shares through open market and privately negotiated transactions at prices deemed advantageous to Crestline.
These purchases, if any, will be subject to market conditions, applicable legal requirements and other factors.
Crestline has no commitment or obligation to purchase any particular amount of common stock and the stock repurchase
program could be suspended at any time at Crestline's discretion.
Crestline Capital is one of the nation's 20 largest hotel management companies through its wholly-owned subsidiary,
Crestline Hotels & Resorts. Crestline Capital is also the nation's largest independent hotel leasing company,
majority owner of an upscale extended-stay hotel portfolio, and owner of one of the nation's premier senior living
community portfolios. Additional information about Crestline Capital is available at the company's web site: http://www.crestlinecapital.com .
Crestline Hotels & Resorts manages and leases 36 hotels, resorts and conference and convention centers with
nearly 7,000 rooms in nine states and the District of Columbia. Crestline Hotels & Resorts manages properties
independently and under such well regarded brands as Marriott, Hilton, Renaissance, Crowne Plaza, Holiday Inn,
Courtyard by Marriott and Residence Inn. Additional information about the hotel management company is available
at the company's web site: http://www.crestlinehotels.com .
SOURCE: Crestline Capital Corporation