The La Quinta Companies (“La Quinta” or “the Companies”),formerly known as The Meditrust Companies, announced that at the annual meetings ofshareholders held yesterday in Dallas, Francis W. Cash and William G. Byrnes were each electedto three-year terms as directors of both La Quinta Properties, Inc. and La Quinta Corporation. Inother business, the Companies approved the appointment of PricewaterhouseCoopers LLP asindependent auditors for 2001. At the conclusion of the meetings, Mr. Cash delivered apresentation to shareholders. A copy of the investor presentation is available on the Companies’website, www.laquinta.com, under the Investor Relations link.

Mr. Cash has been President and Chief Executive Officer of the Companies since April 2000.Prior to joining La Quinta, Mr. Cash was the Chairman of the Board, Chief Executive Officer,President and a Director of Mariner Healthcare Group, Inc. Before that, Mr. Cash served asChairman of the Board, President and Chief Executive Officer of Red Roof Inns, Inc. Beforejoining Red Roof, Mr. Cash was the President and Chief Operating Officer of NovaCare, Inc. Inaddition, Mr. Cash served in a number of senior executive positions for 18 years at MarriottCorporation, most recently as President, Marriott Service Group.

Mr. Byrnes was appointed a Director in 1998. Mr. Brynes was a Distinguished Professor ofFinance at Georgetown University and, before that, was associated with Alex. Brown and Sons,investment bankers. Mr. Byrnes is currently a Financial Consultant and Private Investor and is aDirector of JDN Realty Corporation, a Director of Security Capital Preferred GrowthIncorporated and non-executive Chairman of Pulpfree, Inc.

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