Golf Trust of America, Inc.
(AMEX: GTA)

Golf Trust of America Lessee Association Selects ePayNet Solutions as Preferred Vendor AT THE COMPANY Kathy A. Boles Director of Communications (843) 723-4653 Charleston, SC, March 16, 2000 -- Golf Trust of America, Inc. Lessee Association announced today that it has selected ePayNet Solutions, Inc. as a Preferred Vendor. David B. Swentor, President of ePayNet Solutions, commented, “Golf Trust challenged us to develop unique services and products to address the business insurance and human resource needs of the golf industry and their lessees. The collective buying power was evident, but more importantly, we knew we could deliver enhanced products and services befitting a national company to each independent lessee.” EpayNet Solutions, Inc. (www.epaynetsolutions.com) is a leading provider of aggregate insurance and payroll processing administration. In addition, ePayNet Solutions uniquely offers a complete program of business solutions such as property casualty coverages, payroll services, professional employment organization benefits, human resource information services, banking and internet administration. A marketer of Chubb Insurance’s Preferred Club Program, Invois and BB&T, ePayNet Solutions offers the latest products in property & casualty insurance, human resource services and employee leasing and benefits. W. Bradley Blair, II, the President and Chief Executive Officer of Golf Trust, added, “The consolidation of ownership affords us the ability to structure vendor and service provider agreements with national companies, such as ePayNet Solutions. Our lessees benefit from improved pricing and product, which only strengthens their competitive position.” Golf Trust of America, Inc., with headquarters in Charleston, South Carolina, is a self-administered REIT formed to capitalize on the consolidation opportunities in the ownership of golf courses in the United States. The Company’s business strategy is to acquire high quality golf courses and lease them to qualified third party lessees, including affiliates of the sellers. The Company currently has interest in 47 courses throughout the United States including the following states: Alabama, California, Florida, Georgia, Illinois, Kansas, Kentucky, Michigan, Missouri, Nebraska, New Mexico, North Carolina, Ohio, South Carolina, Texas, Virginia and West Virginia. To receive Golf Trust of America’s latest news and other corporate developments via fax, please call 843-723-4653, or check the Golf Trust web site at www.golftrust.com. Certain matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors including general economic conditions, competition for golf course acquisitions, the availability of equity and debt financing, interest rates and other risk factors as outlined in the Company's SEC reports, including the prospectus dated November 4, 1997 and the annual report on Form 10-K/A dated March 31, 1999.