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LA QUINTA MOTOR INNS, INC. TO REDEEM DEBENTURES

 LA QUINTA MOTOR INNS, INC. TO REDEEM DEBENTURES
 SAN ANTONIO, Texas, Oct. 22 /PRNewswire/ -- La Quinta Motor Inns,


Inc. (NYSE: LQM), announced today that it has elected to redeem on Nov. 12, 1992, all of its approximately $23,150,000 of outstanding 10 percent convertible subordinated debentures due 2002, at a price equal to 100 percent of their principal amount, plus accrued interest.
 Interest on the debentures will cease to accrue on and after Nov. 12. To receive the redemption payment, debenture certificates must be surrendered to the trustee, Chemical Bank, successor by merger to Manufacturers Hanover Trust Company.
 Holders of debentures may elect to convert the principal amount of the debentures into La Quinta common stock at $20.94 per share. It should be noted, however, that the closing price on the New York Stock Exchange Composite Transactions Tape for La Quinta common stock on Oct. 21, 1992, was $17.75 per share. The conversion privilege expires at the close of business in New York City on Nov. 12, 1992.
 Chemical Bank, 450 West 33rd St., New York, NY 10001, is both the redemption agent and the conversion agent for the debentures.
 La Quinta owns and operates a chain of more than 200 limited service inns located in 29 states.
 -0- 10/22/92
 /CONTACT: La Quinta Motor Inns public relations, 512-366-6030/
 (LQM) CO: La Quinta Motor Inns, Inc. ST: Texas IN: LEI SU:


GK -- NY052 -- 3434 10/22/92 10:28 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Date:Oct 22, 1992
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