Oaktree Funds to nominate two for election to Lodgian board

By Lisa Kerner

Charlotte, N.C., Feb. 27 - A group of Lodgian, Inc. investors led by Oaktree Capital Management, LLC and known as the Oaktree Funds reported the beneficial ownership of 276,138 shares, or 1.1%, of the company's outstanding common stock in a schedule 13D filing with the Securities and Exchange Commission.

On Friday, the Oaktree Funds notified Lodgian of its intention to nominate Paul J. Garity and Peter T. Cyrus for election to the board of directors at the 2007 annual meeting on April 24.

Lodgian announced in January that it began a review of strategic alternatives to enhance shareholder value with the assistance of Goldman, Sachs & Co. and Genesis Capital, LLC.

Lodgian is an Atlanta-based independent owner and operator of hotels.

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