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 Noble Investment Group Assumes Management of the
Courtyard by Marriott at Hanes Mall in
Winston Salem, NC
Atlanta, November 1, 2002 � Noble Investment Group, a nationally renowned hospitality company based in Atlanta, assumed the management today of the Courtyard by Marriott in Winston Salem, North Carolina.  The 123 room hotel is located in the Hanes Mall area of Winston Salem and is owned by Raleigh, North Carolina-based Winston Hotels (NYSE: WXH), a real estate investment trust (REIT) and owner of premium limited-service, upscale extended-stay and full-service hotels.

Noble has partnered with Winston Hotels on several hotels and considers them a valuable strategic ally.  The management of the Courtyard by Marriot also thrusts Noble into the arena of third party management as hotel owners look to be accretive in these economic times. 
  
Bob Winston, CEO of Winston Hotels said, �Noble is a leader in the hospitality industry and has a proven track record of success. They are a preeminent operator of hotels and we are very confident in their ability to be successful for Winston Hotels in their management of this significant asset for us.�

Noble President and COO, Mit Shah, added �Our management of this Courtyard by Marriott is a strategic opportunity for Noble. It allows us to utilize our operational expertise to drive value and profitability consistent with the track record of our company while simultaneously launching Noble�s entry into providing that value in the form of third party management to strong owners like Winston Hotels. We plan to focus on opportunities to selectively leverage our management talent in this way as the need for deliverable hotel operating results moves critically to the forefront.�

Founded in 1979, Noble is a privately held hotel ownership, management and development company based in Atlanta, Georgia.  Currently, Noble owns and operates 20 hotels with a combined value of over $225 million. Noble hotels represent well over 2,000 rooms in 6 southeastern states and $60 million in annual revenue. Noble hotels are primarily affiliated with Marriott, Hilton and Six Continents upscale brands.  The company has consistently been named one of the �Top 100 Management Companies� in the United States and is the recipient of numerous national industry awards for service, excellence and quality.  

Contact:

Bonnie Herring
Noble Investment Group
404.262.9660
www.nobleinvestment.com
Also See: Winston Hotels and Noble Investment Group, Ltd. Align to Finance and Develop Two Hilton Garden Inns / July 2000
Noble Investment Grows to 25 Hotels Following Acquisition of Frankline Marriott Cool Springs Hotel / June 2001


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