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

GOLF TRUST OF AMERICA FILES PRELIMINARY LIQUIDATION PROXY AND FORM 10K WITH THE SEC CHARLESTON, SC, March 15, 2001 -- Golf Trust of America, Inc. (AMEX:GTA) today announced that the Company has filed a preliminary liquidation proxy and its Form 10-K Annual Report for the year ended December 31, 2000 with the Securities and Exchange Commission (SEC). These filings are available for free on the SEC web site. Once the SEC review process is complete, GTA will mail a copy of the definitive proxy statement to its stockholders, together with instructions on voting procedures. Stockholders should read the proxy statement carefully when it is available because it will contain important information. Golf Trust of America, Inc. is a real estate investment trust involved in the ownership of high-quality golf courses in the United States. The Company currently owns an interest in 44 (eighteen-hole equivalent) 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.