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

GOLF TRUST OF AMERICA ANNOUNCES DATE OF SPECIAL MEETING TO CONSIDER PLAN OF LIQUIDATION CHARLESTON, SC, March 28, 2001 -- Golf Trust of America, Inc. (AMEX:GTA) today announced that its plan of liquidation will be presented for stockholder approval at a special meeting scheduled to be held at 10:00 a.m. on May 22, 2001, at the Charleston Place Hotel, 130 Market Street, Charleston, South Carolina. Stockholders of record on April 6, 2001 will be eligible to vote at the special meeting. Golf Trust intends to mail its definitive proxy statement describing the plan of liquidation to these stockholders beginning on or around April 11, 2001. 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 42 (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.