InnSuites Hospitality Reports Annual Dividend

PHOENIX— InnSuites Hospitality Trust’s board of trustees has approved the payment of an annual dividend of $0.01 per share to shareholders of record on January 14, 2002, payable on January 31, 2002. This dividend continues InnSuites uninterrupted 32-year history of paying dividends each year on its shares of beneficial interest. InnSuites dividend policy represents the companys desire to utilize its $16.8 million tax loss carry-forward to pursue the attractive internal growth opportunities available to the Trust, including equity repurchases, asset upgrades, and expansion. With an estimated net asset value of $3.62 per share based on market valuations, the board of trustees has identified InnSuites Hospitality Trusts stock as one of these investment opportunities.