Gaylord Entertainment Extends Shareholder Rights Plan by One Year

Gaylord Entertainment Co. GET today announced that its Board of Directors elected yesterday to extend the term of the Company's shareholder rights plan by one year until August 12, 2012. This extension was not in response to any acquisition proposal. Except for the extension of the expiration date of the plan from August 12, 2011 to August 12, 2012, the other terms and conditions of the shareholder rights plan remain unchanged. Colin V. Reed, chairman and chief executive officer of Gaylord Entertainment, stated, “The Board decided to extend our existing shareholder rights plan as a result of this week's turbulent and unpredictable stock market gyrations, which we believe has led to a substantial disconnect between the true value of the company and our stock price. The Board also took into account significant recent acquisitions of our stock by our largest shareholder when making this determination. By extending the shareholder rights plan, we are ensuring that all shareholders can equally and fairly participate in the benefits of our unique business model.”