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

GOLF TRUST OF AMERICA, INC. ENTERS INTO CONTRACT CHARLESTON, SC, November 17, 2000-- Golf Trust of America, Inc. (AMEX:GTA), a self-administered real estate investment trust (REIT), today announced that it has entered into a definitive agreement for the disposition of three golf courses, Emerald Dunes, Polo Trace and Cypress Creek, located in the Palm Beach area of South Florida, for total consideration of $35 million, to affiliates of Emerald Dunes Golf Group, who are lessees for the courses. Under the terms of the agreement, subject to remaining due diligence and financing matters, the purchase price will be comprised of cash payments, the assumption of debt and the return of operating partnership units. Golf Trust of America, Inc. is a self-administered real estate investment trust involved in the ownership of high-quality golf courses in the United States. The Company currently owns an interest in 47 (eighteen-hole equivalent) golf courses. # # # 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.