PRNewswire-FirstCall HENDERSONVILLE, Tenn. Nov. 18 :

ShoLodge, Inc. , today announced that it will commence a cash tender to
purchase up to $6.0 million aggregate principal amount of its outstanding
7 1/2% Convertible Subordinated Notes, due 2004. The tender will begin on
November 18, 2003, and will expire at 5:00 P.M. Eastern Time, on December
19, 2003, unless extended or earlier terminated. Tendered notes may be
withdrawn at any time prior to the expiration date.

ShoLodge is offering to purchase the notes for a cash price of $640 per
$1,000 principal amount. If the amount tendered exceeds $6.0 million
principal amount, ShoLodge will accept the tendered notes on a prorated
basis. Notes tendered but not purchased will be returned to tendering
holders.
The terms and conditions of the tender appear in ShoLodge`s Purchase Offer
Statement, dated November 18, 2003, and the related Letter of Transmittal.
Copies of these and other related documents will be mailed to all record
holders of the notes. The tender is not conditioned on a minimum amount of
notes being tendered. The consummation of the tender for the convertible
debentures is subject to certain other conditions described in the
Purchase Offer Statement. Subject to applicable law, ShoLodge may, in its
sole discretion, waive any condition applicable to the tender and may
extend, terminate, or otherwise amend the tender.

SunTrust Bank is the depositary for this offer. Holders of the convertible
debentures should read the Purchase Offer Statement, Letter of Transmittal
and related documents because they contain important information about the
tender. Copies of the Purchase Offer Statement, Letter of Transmittal and
related documents may be obtained at no charge from ShoLodge at 130 Maple
Drive, North, Hendersonville, Tennessee 37075 or from the Securities and
Exchange Commission`s web site at http://www.sec.gov/. Additional
information concerning the terms of the tender, including all questions
relating to the mechanics of the tender, may be obtained by contacting
ShoLodge at (615) 264- 8000.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of the new
notes in any jurisdiction in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities
laws of such jurisdiction.
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