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LODGIAN, INC.
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(Name of Registrant as Specified In Its Charter)
EDGECLIFF HOLDINGS, LLC
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(Name of Person(s) Filing Proxy Statement if other than the Registrant)
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FOR IMMEDIATE RELEASE
Contact: Joseph E. Marquet, Edgecliff Holdings, LLC
Phone: (859) 578-1100
Contact: Robert C. Marese, MacKenzie Partners, Inc.
Phone: (212) 929-5500
EDGECLIFF HOLDINGS, LLC GRANTED COURT ORDER THAT ANNUAL
MEETING OF LODGIAN, INC. BE HELD ON OCTOBER 20, 2000
Ft. Mitchell, Kentucky, October 16, 2000--Edgecliff Holdings, LLC announced
today that the Delaware Court of Chancery has granted its motion to order
Lodgian, Inc. (NYSE: LOD) to hold its Annual Meeting of Stockholders, and
ordered that the meeting be held on October 20, 2000. Edgecliff reported that
the Court's action was taken in response to a complaint Edgecliff and an
affiliate had filed on October 13 seeking to have the Court order that Lodgian
hold its Annual Meeting as soon as possible. Edgecliff stated that it filed the
complaint after learning that Lodgian's Board of Directors had unilaterally
postponed the Annual Meeting from its originally scheduled time and date of 9:30
a.m. on October 12, 2000 only six hours before the meeting was to be held.
Although Lodgian had previously announced that its Annual Meeting would
be held on October 20, Edgecliff stated that it viewed the Court's decision as a
significant victory because it minimized the possibility that Lodgian might
further attempt to delay the meeting. Edgecliff noted that in determining to
grant the order, the Court substantially based its decision on the fact that
Lodgian had previously told the Court that the Annual Meeting would be held on
October 12.
