IRVING, TX— FelCor Lodging Trust, the nations second largest hotel real estate investment trust (REIT), and its subsidiary, FelCor Lodging Limited Partnership (FelCor LP), announced Sept. 13 the commencement of offers to exchange up to $100 million in aggregate principal amount of FelCor LPs 9 1/2 percent Senior Notes Due 2008, and up to $600 million in aggregate principal amount of FelCor LPs 8 1/2 percent Senior Notes Due 2011, for like amounts of FelCors LPs outstanding 9 1/2 percent Senior Notes Due 2008 and 8 1/2 percent Senior Notes Due 2011. The outstanding Senior Notes Due 2008 were issued and sold on January 22, 2001, and the outstanding Senior Notes Due 2011 that were issued and sold on June 4, 2001, in each case in a transaction exempt from registration under the Securities Act. The form and terms of the exchange notes are the same as the form and terms of the outstanding notes, except that the exchange notes have been registered under the Securities Act of 1933, do not bear legends restricting their transfer and are not entitled to registration rights. The exchange notes evidence the same debt as the outstanding notes, and both the outstanding notes and the exchange notes are governed by the same indenture. The outstanding notes were, and the exchange notes will be, issued by FelCor LP and fully and unconditionally guaranteed by FelCor and certain subsidiaries of FelCor and FelCor LP. The exchange offers will expire at 5:00 p.m., New York City Time, on October 11, 2001, unless extended by FelCor LP. The exchange agent for both exchange offers is SunTrust Bank in Atlanta.
