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LA QUINTA MOTOR INNS LIMITED PARTNERSHIP RECEIVES PROPOSAL REGARDING ACQUISITION

 SAN ANTONIO, Texas, Oct. 19 /PRNewswire/ -- La Quinta Motor Inns Limited Partnership (the "partnership") (NYSE: LQP) announced today that it had received a proposal from La Quinta Inns, Inc. ("La Quinta") regarding the acquisition of all of the 3,522,300 partnership units of the partnership that La Quinta does not own at a price of up to $12 per unit in cash. La Quinta currently owns 452,700 partnership units of the partnership (11.4 percent of the outstanding units) and all of the outstanding capital stock of La Quinta Realty Corp., the general partner of the Partnership. The terms and form of a transaction, if any is agreed to, have yet to be determined, but may include a merger, acquisition or other business combination. La Quinta stated that any transaction would be financed by available credit lines and would not be subject to a financing contingency.
 The board of directors of the general partner of the partnership has formed a special committee (the "special committee") comprised solely of board members who are not affiliated with La Quinta to evaluate the proposal. The Special Committee has engaged its own legal counsel and financial advisors to advise and assist it.
 The Partnership owns 31 inns in 15 states which are managed by La Quinta pursuant to a long-term management contract.
 -0- 10/19/93
 /CONTACT: La Quinta Motor Inns Limited Partnership investor relations, 210-302-6030/
 (LQP)


CO: La Quinta Motor Inns Limited Partnership; La Quinta Inns, Inc. ST: Texas IN: LEI SU: TNM

TS -- NY093 -- 4154 10/19/93 16:09 EDT
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Publication:PR Newswire
Date:Oct 19, 1993
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