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INDEPENDENT INSPECTOR REPORTS THAT RONIN CONSENT SOLICITATION FAILED

 SAN ANTONIO, Texas, Jan. 26 /PRNewswire/ -- La Quinta Motor Inns Limited Partnership (NYSE: LQP) announced that an independent inspector of election appointed by agreement between the partnership and Ronin Partners L.P. has submitted a final tabulation report indicating that Ronin's consent solicitation failed to receive the support of a majority of the partnership's limited partners.
 The report of the independent inspector essentially confirms the preliminary tabulation of Ronin's consents by the inspector, thus confirming that the partnership was correct in its prior announcement that Ronin had failed to deliver sufficient valid, unrevoked consents. A hearing to review the vote by limited partners has been scheduled for Feb. 8 in Delaware Federal Court, which will hear challenges and determine the final count.
 In a series of public and private communications before appointment of the independent inspector, Ronin repeatedly claimed that it had received the support of a majority of the partnership's limited partners. Monday morning, it was reported that Ronin now claims it would have obtained the required vote if certain consents were delivered by the partnership to the independent inspector. With regard to this issue, the partnership announced today that all consents received by the partnership from Ronin or any other source were delivered by the partnership to the independent inspector, and that Ronin's claims to the contrary are false. The partnership believes that all such consents were reviewed by the independent inspector before completion of the final report.
 The general partner of the partnership also believes that Ronin's consents were obtained in violation of federal securities laws and the partnership agreement, and that Ronin's proposal constitutes an effective removal of the general partner, requiring the consent of limited partners holding the right to vote more than 80 percent of all units.
 Steven T. Schultz, president of the partnership's general partner, commented, "The final report of the independent inspector has increased our resolve to vigorously oppose Ronin's efforts."
 La Quinta Realty Corp., the general partner of the partnership, is a wholly owned subsidiary of La Quinta Motor Inns, Inc., the entity which manages the partnership's inns and restaurants. La Quinta Motor Inns Limited Partnership owns 31 La Quinta Inns and 20 restaurants in 15 states.
 -0- 1/26/93
 /CONTACT: La Quinta Realty Corp., 210-366-6030/
 (LQP)


CO: La Quinta Motor Inns Limited Partnership ST: Texas IN: LEI SU:

CK -- NY028 -- 8976 01/26/93 10:03 EST
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Publication:PR Newswire
Date:Jan 26, 1993
Words:398
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