Winston Declares 4Q Dividend

RALEIGH, NC Winston Hotels has declared a cash dividend of $0.28 per common share for the fourth quarter of 2000, payable on January 16, 2000 to shareholders of record on December 29, 2000. The company currently has approximately 16.9 million common shares outstanding. Based on the December 7 closing price of $7.25 per common share, the annualized dividend yield is 15.4%. A cash dividend of $0.578125 per preferred share was also declared for the fourth quarter of 2000. (12/8/00)