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

GOLF TRUST OF AMERICA, INC. ANNOUNCES SALE OF PALM DESERT COUNTRY CLUB FOR $4.075 MILLION CHARLESTON, SC, April 30, 2001 -- Golf Trust of America, Inc. (AMEX:GTA), a real estate investment trust (REIT), announced today that the Company has sold Palm Desert Country Club in total consideration of $4.075 million. On April 20, the Company closed the sale of Palm Desert Country Club, a 27-hole golf course, located in Palm Desert, California, to Dahoon Investment Company, a California corporation, with interests in the immediate community. Separately, as previously announced, Golf of America will hold a special meeting of stockholders at 10:00 a.m. on May 22, 2001 to vote on the plan of liquidation, as submitted by special proxy to stockholders of record as of April 6, 2001. Stockholders should read the proxy statement carefully because it contains important information, and submit their votes in a timely manner to ensure receipt prior to the recorded vote on May 22, 2001. The special meeting of stockholders will be held at The Charleston Place Hotel, located at 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 38.5 (eighteen-hole equivalent) golf courses. Additional information, including an archive of all corporate press releases, is available over the Company’s website at www.golftrust.com. # # # 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.