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Jameson Inns, Inc. Reports ADR, Occupancy and REVPAR for May 2003

2003-06-12

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ATLANTA, June 12 Jameson Inns, Inc. (Nasdaq: JAMS), a hotel real estate investment trust (REIT), and owner of Jameson Inn and Signature Inn hotels, today announced that revenue per available room ("REVPAR") was $32.28 in May, a 1.11% decrease from May 2002. Average daily rate decreased $0.69 for the month while occupancy increased 1 basis point.

                            Occupancy      Average Daily Rate     REVPAR

          Brand            2003    2002      2003     2002     2003     2002



       Jameson Inns       57.7 %  58.8 %   $57.98 $57.25 $33.44 $33.69

       Signature Inns     47.5 %  45.6 %   $63.34 $67.38 $30.07 $30.75

       Combined Brands    54.2 %  54.2 %   $59.60 $60.29 $32.28 $32.64

Smith Travel Research recently reported that preliminary May figures for the economy segment, where all Jameson hotels are categorized, show REVPAR ranging from declining 1 to 3%. STR has also estimated up to a 2% decline in REVPAR in the total U.S. lodging industry for the month.

Jameson Inns, Inc. is a REIT that owns the Jameson Inn and Signature Inn limited service hotel properties.

Logos, product and company names mentioned are the property of their respective owners.