LQI LA Quinta Corp

La Quinta Declares Dividend on 9% Preferred Stock DALLAS, June 1 /PRNewswire-FirstCall/ -- La Quinta Properties, Inc. announced today that the Board of Directors declared a dividend of $0.5625 per depositary share on its 9% Series A Cumulative Redeemable Preferred Stock for the period from April 1, 2005 to June 30, 2005. Shareholders of record on June 15, 2005 will be paid the dividend of $0.5625 per depositary share of Preferred Stock on June 30, 2005. Dividends on the Series A Preferred Stock are cumulative from the date of original issuance and are payable quarterly in arrears on March 31, June 30, September 30 and December 31 of each year (or, if not a business date, on the next succeeding business day) at the rate of 9% of the liquidation preference per annum (equivalent to an annual rate of $2.25 per depositary share). About La Quinta Corporation La Quinta Corporation (NYSE:LQI) and its controlled subsidiary, La Quinta Properties, Inc., is one of the largest owner/operators of limited-service hotels in the United States. Based in Dallas, Texas, the Company owns, operates or franchises more than 590 hotels in 39 states under the La Quinta Inns(R), La Quinta Inn & Suites(R), Baymont Inn & Suites(R), Woodfield Suites(R) and Budgetel(R) brands. For reservations or more information about La Quinta Corporation, please visit http://www.lq.com/ . DATASOURCE: La Quinta Corporation CONTACT: Tom Ward, Investor Relations of La Quinta Corporation, +1-214-492-6689, or Web site: http://www.lq.com/

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