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Noble Investment Announces four New Properites
Totaling $30 Million

Atlanta, GA - June 15, 1998 - Atlanta-based Noble Investment Group has begun development of four new hotels in Florida and Georgia which represent an investment totaling $30 million.  This will bring the number of properties owned and managed by the company to 19, with more than 1,500 rooms.

Construction on all the new properties is scheduled to begin by August, with openings expected during the second quarter of 1999.  They are:

102 room Courtyard by Marriott Hotel at the World Golf Village in St. 
Augustine, Florida
A five-story, 102 suite, Fairfield Suites Hotel in Jacksonville's Deerwood Corporate Park
A five-story, 120 room, Hilton Garden Inn Hotel adjacent to the Fairfield Suites Hotel in Jacksonville's Deerwood Corporate Park
An  83 suite Fairfield Suites Hotel in Newnan, Georgia
"These hotels mark two important directions for our company" said Dr. Bharat Shah, chairman and chief executive officer of Noble.  "First, we are committing ourselves strongly to the Hilton and Marriott brands, and second, we will continue to place our future properties within office parks in emerging markets."

These new projects continue Noble's meteoric growth, which has resulted in the company recently being named the country's fastest growing hotel company in revenue per available room (up 37.68% in 1997 over 1996, from $39.96 to $55.02), the county's second fastest growing hotel company in gross revenue (up 493% from $1.6 million in 1996 to $9.5 million last
year), and the country's 10th fastest hotel company in room growth (up 67.73% from 843 rooms in 1996 to 1,414 rooms in 1997).  Before the addition of these four new projects, Nobel ranked as the 89th largest hotel management firm in the U.S.

Noble Investment Group was founded in 1979.  Currently, it operates 15 properties in four southeastern states.

Peter G. Mathon
P. R. Counsel for
Noble Investment Group

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