La Quinta Announces Public Offering

PRNewswire-FirstCall DALLAS Nov. 13 :

La Quinta Corporation and La Quinta Properties, Inc. today announced that
they intend to offer 25.00 million shares of common stock under their
shelf registration statement previously declared effective by the
Securities and Exchange Commission. The net proceeds of the offering are
intended to be used for general corporate purposes, including for
potential acquisitions of lodging properties, lodging companies and/or
brands; debt reduction; and/or redemption of preferred stock.

The Company has also granted the underwriters an option to purchase up to
an additional 3.75 million shares of common stock to cover any over-
allotments. Morgan Stanley is the bookrunning manager and Credit Lyonnais
Securities (USA) Inc. and CIBC World Markets are serving as co-managers.
Copies of the preliminary prospectus supplement and the accompanying
prospectus relating to the offering may be obtained from the offices of
Morgan Stanley & Co., Prospectus Department, 1585 Broadway, New York, NY
10036.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale or an offer to
buy these securities in any state in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any such state. Offers for the securities will be made
only by means of a prospectus supplement and the accompanying prospectus.

About La Quinta
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Dallas based La Quinta Corporation and its controlled subsidiary, La
Quinta Properties, Inc., a limited service lodging company, own, operate
or franchise over 350 La Quinta Inns and La Quinta Inn & Suites in 33
states.
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