La Quinta Declares Dividend

PRNewswire-FirstCall DALLAS Dec. 1 :

La Quinta Properties, Inc. announced today that the Board of Directors
declared a dividend of $0.5625 per depositary share on its 9% Series A
Cumulative Redeemable Preferred Stock for the period from October 1, 2003
to December 31, 2003. Shareholders of record on December 15, 2003 will be
paid the dividend of $0.5625 per depositary share of Preferred Stock on
December 31, 2003.
Dividends on the Series A Preferred Stock are cumulative from the date of
original issuance and are payable quarterly in arrears on March 31, June
30, September 30 and December 31 of each year (or, if not a business date,
on the next succeeding business day) at the rate of 9% of the liquidation
preference per annum (equivalent to an annual rate of $2.25 per depositary
share).

About La Quinta Corporation
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Dallas based La Quinta Corporation , a leading limited service lodging
company, owns, operates or franchises over 350 La Quinta Inns and La
Quinta Inn & Suites in 33 states. Today`s news release, as well as other
information about La Quinta, is available on the Internet at
http://www.lq.com/ .
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