Choice Hotels International 2002 Annual Report

BOARD OF DIRECTORS

Stewart Bainum Jr.
Chairman of the Board
Sunburst Hospitality Corporation

Barbara Bainum
Vice Chairman
Commonweal Foundation

Vice Chairman
Realty Investment Company, Inc.

William L. Jews
President and Chief Executive Officer CareFirst BlueCross BlueShield

Director
Ecolab, Inc.
MBNA
Municipal Mortgage and Equity, L.L.C. Ryland Group, Inc.

Charles A. Ledsinger, Jr.
President and Chief Executive Officer Choice Hotels International

Director
FelCor Lodging Trust, Inc.
Friendly's Ice Cream Corporation TBC Corporation

Lawrence R. Levitan
IRS Oversight Board

Retired Managing Partner
Andersen Consulting's Worldwide Communications Industry Group

Jerry E. Robertson, Ph.D.
Retired Executive Vice President
3M Life Sciences Sector and
Corporate Services

Director
Coherent Inc.
Steris Corp.

Raymond E. Schultz
Chairman
RES Investments, L.L.C.

Director
Equity Inns, Inc.
TBC Corporation

Ervin R. Shames
Visiting Lecturer
University of Virginia
Darden Graduate School of Business Consultant to consumer goods and
services companies

Director
OnLine Resources Corporation
Select Comfort Corporation

CORPORATE EXECUTIVE OFFICERS

Stewart Bainum Jr.
Chairman of the Board

Charles A. Ledsinger, Jr.
President and Chief Executive Officer

Michael J. DeSantis
Senior Vice President, General Counsel and Secretary

Bruce N. Haase
Senior Vice President, International

Thomas Mirgon
Senior Vice President, Human Resources and Administration

Janna Morrison
Senior Vice President, Franchise Services
Daniel Rothfeld
Senior Vice President, Partner Services
and Emerging Business Opportunities

Joseph M. Squeri
Senior Vice President, Development and Chief Financial Officer

Gary Thomson
Senior Vice President and Chief Information Officer

Wayne W. Wielgus
Senior Vice President, Marketing

CORPORATE OFFICERS

Don Brockway
Vice President, Reservations Operations

Kevin M. Rooney
Associate General Counsel
and Assistant Secretary

David L. White
Vice President and Controller

CORPORATE INFORMATION

Stock Listing
Choice Hotels International common
stock trades on the New York Stock
Exchange under the ticker symbol CHH.

Transfer Agent & Registrar
Mellon Investor Services LLC
Overpeck Centre
85 Challenger Road
Ridgefield, NJ 07660 www.chasemellon.com

Independent Auditors PricewaterhouseCoopers LLP
Washington, DC

Annual Meeting Date
Choice Hotels International will hold its Annual Meeting of Stockholders on Monday, April 28, 2003, at 9:00 a.m. in The Chesapeake Room of the Learning Center, 10720 Columbia Pike, Silver Spring, MD.

Form 10-K
A stockholder may receive without charge a copy of the Form 10-K Annual Report filed with the Securities and Exchange Commission by written request to the Corporate Secretary at the corporate head- quarters. The Form 10-K also is available
at www.choicehotels.com under the "Corporate and Board Information" link.

Corporate Headquarters
Choice Hotels International
10750 Columbia Pike
Silver Spring, MD 20901
General Inquiries: (301) 592-5000 Franchise Sales: (800) 547-0007
Investor Inquiries: (800) 404-5050, ext. 5026
or (301) 592-5026
e-mail: investor_relations@choicehotels.com Media Relations: (301) 592-5032
Corporate Web Site: www.choicehotels.com
Copies of the company's public filings
as well as its Corporate Governance Guidelines, Corporate Ethics Policy and charters to the Board Audit Committee and Compensation Committee are available on www.choicehotels.com under the "Corporate and Board Information" link.

Choice Hotels, Comfort Inn, Comfort Suites, Quality, Sleep Inn, Clarion,
MainStay Suites, Econo Lodge, Rodeway Inn, Choice Privileges, EA$Y CHOICE and ChoiceBuys.com are registered trademarks, service marks and trade names owned by Choice Hotels International, Inc. Choice Hotels also owns and uses common law marks, including Profit Manager.