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

Golf Trust Announces 4th Quarter Dividend AT THE COMPANY W. Bradley Blair, II President and Chief Executive Officer Scott D. Peters Chief Financial Officer (843)723-4653 CHARLESTON, SC, December 26, 2000 -- Golf Trust of America, Inc. (AMEX:GTA), today announced that its Board approved its quarterly dividend of $0.25 per common share, payable on January 31, 2001 to shareholders of record on January 15, 2001. W. Bradley Blair, II, president and chief executive officer, stated, “Our fourth quarter dividend reflects the board of directors’ evaluation of several factors, including, management’s continued preparation of a proposed plan of liquidation for consideration by the board of directors, and the continued focus on the Company’s financial condition and compliance with REIT requirements.” Mr. Blair further stated, “I am encouraged with our progress in submitting a plan of liquidation to the board of directors for their consideration, and if approved, to shareholders for vote.” 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.