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Meditrust Corporation
Meditrust Operating Company
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<PAGE>
Meditrust and La Quinta Announce Meeting Date Price
NEEDHAM HEIGHTS, Mass. and SAN ANTONIO, June 9 /PRNewswire/ -- The Meditrust
Companies (NYSE: MT) and La Quinta Inns, Inc. (NYSE: LQI) announced today that,
pursuant to the Meditrust-La Quinta definitive merger agreement, the Meeting
Date Price is $28.75625. Under the agreement, the Meeting Date Price represents
the average closing price of Meditrust paired shares for 20 randomly selected
trading days in the 30 trading day period ended June 8, 1998, eight trading days
prior to the La Quinta special shareholders meeting, scheduled for June 18,
1998, to vote on the proposed merger.
La Quinta shareholders who receive stock consideration will receive Meditrust
paired shares and will be eligible to receive a special dividend distribution of
La Quinta's earnings and profits. The preliminary exchange ratio and
preliminary amount of the earnings and profits distribution will be announced
tomorrow, June 10, 1998.
Meditrust and La Quinta shareholders who have any questions or need assistance
in voting their shares can call the companies' joint proxy solicitor, D.F. King
& Co., Inc. toll-free at 800-578-5378.
La Quinta Inns, Inc., a leader in the mid-price segment of the lodging industry,
owns and operates 280 hotels and approximately 36,000 rooms and suites in 28
states.
The Meditrust Companies, a paired share real estate investment trust and the
nation's largest health care real estate investment trust, with headquarters in
Needham, Massachusetts, consists of Meditrust Corporation and Meditrust
Operating Company. As of March 31, 1998, Meditrust had investments in 474 health
care facilities in 40 states with 37 different operators and has a total market
capitalization of approximately $3.0 billion.
