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

GTA Announces Sale of Polo Trace Golf & Country Club CHARLESTON, SC, October 24, 1001 -- Golf Trust of America, Inc. (AMEX:GTA), a real estate investment trust, announced today that on October 22, the Company closed on the sale of Polo Trace Golf & Country Club for total consideration of $8.35 million to Southern Golf Partners, LLLP, a Florida limited liability limited partnership. Polo Trace Golf & Country Club is an 18-hole golf course located in Delray 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 23 (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.