>Lodgian Provides Update on Maturing Mortgage Debt

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>ATLANTA, July 2 /PRNewswire-FirstCall/ — Lodgian, Inc. (NYSE Alternext US: LGN), one of the nation’s largest independent hotel owners and operators, today announced that the company has obtained extensions on $71.6 million of its mortgage indebtedness previously scheduled to mature on July 1, 2009, and remains in negotiations on extension of $45.7 million of mortgage debt which matured on July 1, 2009. The mortgage indebtedness, which was originated in June 2004 by Merrill Lynch and securitized in the collateralized mortgage-backed securities market, has been divided into three pools of indebtedness referred to by the company as the Merrill Lynch Fixed Rate Pools #1, #3 and #4. (The company repaid the Merrill Lynch Fixed Rate Pool #2 in 2007.) In summary, the company has reached agreements with the special servicers of this mortgage indebtedness to provide the following:

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