| Golf Trust of America, Inc. Announces 2003 Annual Meeting
CHARLESTON, SC, August 5, 2003 - Golf Trust of America, Inc. (AMEX:GTA - News) announced today that the Company has scheduled its 2003 Annual Shareholders Meeting for November 17, 2003 at 9:30 a.m. to be held at Charleston Place Hotel, 205 Meeting Street, Charleston, South Carolina. The shareholder record date for this meeting will be October 6, 2003.
Prior to the annual meeting, GTA will mail a copy of the proxy statement to its shareholders, together with instructions on voting procedures. Shareholders should read the proxy statement carefully when it is available because it will contain important information. Shareholders are entitled to submit a proposal for consideration for inclusion in the proxy statement, subject to meeting the requirements of applicable Securities and Exchange Commission (SEC) rules. Any such proposal must be submitted no later than August 20, 2003.
As previously stated in our annual report on Form 10K filed on March 31, 2003, stockholders wishing to present a proposal at the 2003 annual meeting of stockholders, but not wishing to submit such proposal for inclusion in the proxy statement, must provide us written notice between Monday, July 21, 2003 and Wednesday, August 20, 2003, inclusive (which are 120 days and 90 days, respectively, prior to the anniversary of last year's annual meeting). Any proposal received outside such period shall be considered untimely. Such written notice must be delivered or mailed by first-class United States mail, postage prepaid to the Secretary of Golf Trust of America, Inc., 14 North Adger's Wharf, Charleston, South Carolina 29401. The proposal must set forth the name and address of the stockholder, the text to be introduced, the number of shares held and the date of their acquisition, and a representation that the stockholder intends to appear in person or by proxy to introduce the proposal specified in the notice. The chairman of the meeting may refuse to acknowledge the introduction of any stockholder proposal not made in compliance with the foregoing procedures.
Golf Trust of America, Inc. was formerly a real estate investment trust but is now engaged in the liquidation of its interests in golf courses in the United States pursuant to a plan of liquidation approved by its stockholders. The Company currently owns an interest in five properties (9.0 eighteen-hole equivalent golf courses). Additional information, including an archive of all corporate press releases, is available on the Company's website at www.golftrust.com.
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