| Golf Trust of America Inc. Announces Fourth Quarter Dividend
DATELINE: CHARLESTON, S.C.
Dec. 14, 1998--Golf Trust of America, Inc. (AMEX:GTA), today announced that its Board approved its quarterly dividend of $ 0.44 per common share, payable on January 15, 1999 to shareholders of record on December 31, 1998.
The Company's initial annual dividend was increased to $ 1.76 per common share on May 18, 1998.
Golf Trust of America, Inc. is a self-administered real estate investment trust involved in the acquisition and ownership of high-quality golf courses in the United States. The Company currently owns an interest in 42.5 (18-hole equivalent) courses.
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, including the prospectus dated November 4, 1997 and the annual report on Form 10-K dated March 31, 1998.
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