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

GOLF TRUST OF AMERICA, INC. ANNOUNCES FIRST QUARTER 2001 DIVIDEND CHARLESTON, SC, April 3, 2001 -- Golf Trust of America, Inc. (AMEX:GTA), today announced that its Board approved its quarterly dividend of $0.25 per common share, payable on April 30, 2001 to shareholders of record on April 16, 2001. W. Bradley Blair, II, president and chief executive officer, stated, “Our first quarter dividend reflects the board of directors’ evaluation of several factors, including, the Company’s recent announcement that its plan of liquidation will be presented for stockholder’s approval at a special meeting to be held on May 22, 2001, and the continued focus on the Company’s financial condition and compliance with REIT requirements.” The special meeting of stockholders will be held at Charleston Place Hotel, 205 Meeting Street, Charleston, South Carolina. 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) 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.