FelCor Lodging Trust Incorporated (NYSE: FCH) today announced that it priced its public offering of 27.5 million shares of its common stock (the "Offering") at $5.50 per share. FelCor granted the underwriters a 30-day option to purchase up to 4.125 million additional shares of common stock. FelCor estimates that the net proceeds from the Offering, after underwriting discounts and commissions, will be approximately $145 million (approximately $167 million if the underwriters' option to purchase additional shares is exercised in full).

J.P. Morgan Securities Inc., Goldman, Sachs & Co., BofA Merrill Lynch and Deutsche Bank Securities Inc. acted as joint book-running managers for the offering. Citi and FBR Capital Markets acted as senior co-managers. JMP Securities and Keefe, Bruyette & Woods, Inc. acted as co-managers.

FelCor intends to use the net proceeds from the Offering, together with cash on hand, to repay or repurchase certain of its mortgage debt at substantial discounts, for acquisition opportunities that meet all of its strategic and financial criteria, exceed its cost of capital on a risk-adjusted basis, and can be acquired at prices significantly below replacement cost. Pending application of the net proceeds, FelCor may invest such proceeds in short-term, interest-bearing investments.

The Offering is expected to close on June 22, 2010, subject to customary closing conditions. FelCor will issue all of the offered shares of common stock under its currently effective registration statement on Form S-11 filed with the Securities and Exchange Commission (the "SEC"). The Offering may be made only by means of a prospectus, which has been filed or will be filed with the SEC. When available, the prospectus, meeting the requirements of Section 10 of the Securities Act of 1933, may be obtained from J.P. Morgan Securities Inc., Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or (866) 803-9204, from Goldman, Sachs & Co., Attn: Prospectus Department, 200 West Street, New York, NY 10282 or telephone: (866) 471-2526 or e-mail at prospectus-ny@ny.email.gs.com, from BofA Merrill Lynch, Attn: Preliminary Prospectus Department, 4 World Financial Center, New York, NY 10080 or e-mail at Prospectus.Requests@ml.com, or from Deutsche Bank Securities Inc., Attention: Prospectus Department, 100 Plaza One, Jersey City, NJ 07311 or (800) 503-4611 or e-mail at prospectus.cpdg@db.com, or by visiting the EDGAR database on the SEC's web site at www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to purchase these securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

With the exception of historical information, the matters discussed in this news release include “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements are not guarantees of future performance. Numerous risks and uncertainties, and the occurrence of future events, may cause actual results to differ materially from those currently anticipated. Certain of these risks and uncertainties are described in greater detail in our filings with the Securities and Exchange Commission. Although we believe our current expectations to be based upon reasonable assumptions, we can give no assurance that our expectations will be attained or that actual results will not differ materially. We undertake no obligation to update any forward-looking statement to conform the statement to actual results or changes in our expectations.

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