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

GTA Announces Sale of Emerald Dunes Golf Club CHARLESTON, SC, September 17, 2001 -- Golf Trust of America, Inc. (AMEX:GTA), a real estate investment trust, announced today that on September 7th, the Company sold Emerald Dunes Golf Club for total consideration of $16.9 million to Emerald Dunes Golf Group, LLC, an affiliate of the existing lessee. Emerald Dunes Golf Course is an 18-hole golf course located in West Palm Beach, Florida. 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 25 (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.