American Stock Exchange Committee on Securities Affirms Decision to Strike Host Funding, Inc., Common Stock From Listing and Registration

Apr 27, 2001, 01:00 ET from Host Funding, Inc.

    MORAGA, Calif., April 27 /PRNewswire/ -- Host Funding, Inc. (Amex:   HFD),
 announced today that it has received notification from the Amex Adjudicatory
 Council of the American Stock Exchange Board of Governors that the Council has
 affirmed the decision of the Amex Committee on Securities to strike
 Host Funding's common stock from listing and registration on the exchange.
 Accordingly, the exchange has informed Host Funding that it plans to file an
 application with the United States Securities and Exchange Commission to
 strike the company's stock from the exchange.  That application will become
 effective, and the company's stock will cease trading on the exchange, on the
 tenth day after filing.
     The Exchange sought to delist the shares of the Company because the
 Company no longer complied with a number of the exchange listing requirements.
 At a meeting with exchange representatives on February 28, 2001 the Company
 affirmatively addressed several of the issues but could not comply with the
 major requirements:  that the total market value of the shares in public
 (non-insider) hands exceed $1,000,000 based upon recent trading prices, and
 that the Company exhibit profits, according to GAAP accounting, sometime
 during its first five years of operations.  Recent purchases of the Company's
 common stock at $3.50 per share by Bufete Groupo Internacional, which is now
 considered an "insider" by exchange rules, reduced the number of shares in
 public hands, and the subsequent decline in the share price -- notwithstanding
 the insignificant trading volume -- brought the value of the remaining
 publicly held shares to below the exchange minimum.  "We were disappointed to
 learn of the exchange's decision," stated Host Funding Chief Executive Officer
 C.E. Patterson, "but from a practical point of view, we believe there will be
 little impact on either the operations of the Company or on the trading of the
 shares because a meaningful trading market for the shares did not exist on the
 AMEX during the past eighteen months.  We plan within the next few weeks to
 file an application to list our common stock for quotation on the
 NASD Over-the-Counter Bulletin Board, and if that application is approved we
 expect our stock to continue trading with only a brief interruption, and
 expect a more liquid market to develop."   Additionally, Host Funding's Chief
 Financial Officer, Glen Fuller, stated that, "If the appropriate opportunity
 presents itself, and if we return to compliance with initial listing criteria,
 we may consider filing a new listing application for our securities, but we
 would expect to seek an upgrade to a listing on the Nasdaq small cap list
 rather than returning to the AMEX market which proved to be so illiquid.
 However, we plan in the short term to continue to focus our attentions on our
 operations and financial condition with the hopes of improving shareholder
 value both in the immediate future and over the long term."
     Host Funding is a hotel real estate holding company that owns 11 limited
 service hotel properties in 8 states.  Host Funding also has a minority
 interest in four hotel properties in Mexico, interests contributed as equity
 capital in return for an approximate 37% equity ownership in the Company by a
 group that owns 34 other properties in that country.
     Certain information included in this Press Release contains
 forward-looking statements about the expectations and plans of various
 management personnel of Host Funding, Inc.  These statements relate to
 Host Funding's future direction, plans for future operations and other
 matters.  Such forward-looking information involves various risks and
 uncertainties that could materially affect our actual results in the future.
 Accordingly, our actual results will differ from those expressed in our
 forward-looking statements, and those variations may be both material and
 adverse.  These risks and uncertainties include, but are not limited to, those
 relating to our ability to prosecute our business plan successfully and our
 ability to file and obtain approval for market listing applications.  Various
 other factors that may affect our business are set forth in our periodic and
 special reports filed with the Securities and Exchange Commission.
 
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SOURCE Host Funding, Inc.
    MORAGA, Calif., April 27 /PRNewswire/ -- Host Funding, Inc. (Amex:   HFD),
 announced today that it has received notification from the Amex Adjudicatory
 Council of the American Stock Exchange Board of Governors that the Council has
 affirmed the decision of the Amex Committee on Securities to strike
 Host Funding's common stock from listing and registration on the exchange.
 Accordingly, the exchange has informed Host Funding that it plans to file an
 application with the United States Securities and Exchange Commission to
 strike the company's stock from the exchange.  That application will become
 effective, and the company's stock will cease trading on the exchange, on the
 tenth day after filing.
     The Exchange sought to delist the shares of the Company because the
 Company no longer complied with a number of the exchange listing requirements.
 At a meeting with exchange representatives on February 28, 2001 the Company
 affirmatively addressed several of the issues but could not comply with the
 major requirements:  that the total market value of the shares in public
 (non-insider) hands exceed $1,000,000 based upon recent trading prices, and
 that the Company exhibit profits, according to GAAP accounting, sometime
 during its first five years of operations.  Recent purchases of the Company's
 common stock at $3.50 per share by Bufete Groupo Internacional, which is now
 considered an "insider" by exchange rules, reduced the number of shares in
 public hands, and the subsequent decline in the share price -- notwithstanding
 the insignificant trading volume -- brought the value of the remaining
 publicly held shares to below the exchange minimum.  "We were disappointed to
 learn of the exchange's decision," stated Host Funding Chief Executive Officer
 C.E. Patterson, "but from a practical point of view, we believe there will be
 little impact on either the operations of the Company or on the trading of the
 shares because a meaningful trading market for the shares did not exist on the
 AMEX during the past eighteen months.  We plan within the next few weeks to
 file an application to list our common stock for quotation on the
 NASD Over-the-Counter Bulletin Board, and if that application is approved we
 expect our stock to continue trading with only a brief interruption, and
 expect a more liquid market to develop."   Additionally, Host Funding's Chief
 Financial Officer, Glen Fuller, stated that, "If the appropriate opportunity
 presents itself, and if we return to compliance with initial listing criteria,
 we may consider filing a new listing application for our securities, but we
 would expect to seek an upgrade to a listing on the Nasdaq small cap list
 rather than returning to the AMEX market which proved to be so illiquid.
 However, we plan in the short term to continue to focus our attentions on our
 operations and financial condition with the hopes of improving shareholder
 value both in the immediate future and over the long term."
     Host Funding is a hotel real estate holding company that owns 11 limited
 service hotel properties in 8 states.  Host Funding also has a minority
 interest in four hotel properties in Mexico, interests contributed as equity
 capital in return for an approximate 37% equity ownership in the Company by a
 group that owns 34 other properties in that country.
     Certain information included in this Press Release contains
 forward-looking statements about the expectations and plans of various
 management personnel of Host Funding, Inc.  These statements relate to
 Host Funding's future direction, plans for future operations and other
 matters.  Such forward-looking information involves various risks and
 uncertainties that could materially affect our actual results in the future.
 Accordingly, our actual results will differ from those expressed in our
 forward-looking statements, and those variations may be both material and
 adverse.  These risks and uncertainties include, but are not limited to, those
 relating to our ability to prosecute our business plan successfully and our
 ability to file and obtain approval for market listing applications.  Various
 other factors that may affect our business are set forth in our periodic and
 special reports filed with the Securities and Exchange Commission.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X84335015
 
 SOURCE  Host Funding, Inc.