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

GOLF TRUST OF AMERICA, INC. ANNOUNCES SALES OF EAGLE WATCH AND OLDE ATLANTA CHARLESTON, SC, July 11, 2001 -- Golf Trust of America, Inc. (AMEX:GTA), a real estate investment trust (REIT), announced today that the Company sold Eagle Watch Golf Club, an 18-hole golf course, to Eagle Watch Golf Club Limited Partnership for total consideration of $5.85 million, and Olde Atlanta Golf Club, an 18-hole golf course, to Olde Atlanta Golf Club Limited Partnership for total consideration of $7.8 million. Both courses were sold to affiliates of the lessee. 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 32.5 (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.