SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
TEACHERS INSURANCE & ANNUITY ASSOCIATION OF AMERICA

(Last) (First) (Middle)
730 THIRD AVE

(Street)
NEW YORK NY 10017

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
JAMESON INNS INC [ JAMS US ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
06/13/2005
4. If Amendment, Date of Original Filed (Month/Day/Year)
10/07/2004
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 06/13/2005 06/14/2005 S 137,500 D $2.5 6,261,500(1) I(1) registered investment company(1)
Common Stock 06/13/2005 06/14/2005 S 20,000 D $2.5 6,261,500(1) I(1) registered investment company(1)
Common Stock 06/13/2005 06/14/2005 S 15,000 D $2.5 6,261,500(1) I(1) private funds(1)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. See Remarks
Remarks:
The 137,500 shares of the Issuer being reported on this Form were disposed by the TIAA-CREF Institutional Real Estate Securities Fund, a series of the TIAA-CREF Institutional Mutual Funds ("Institutional Funds"), which now owns 2,862,500 shares (or 5.01% of the total shares of the Issuer outstanding). The 20,000 shares of the Issuer being reported on this Form were disposed by the TIAA-CREF Life Real Estate Securities Fund, a series of the TIAA-CREF Life Funds ("Life Funds"), which now owns 382,000 shares (or 0.67% of the total shares of the Issuer outstanding). The 15,000 shares of the Issuer being reported on this Form were disposed by the TCAM Real Estate Securities Fund, a series of the TIAA-CREF Asset Management Commingled Funds Trust I ("TCAM Funds"), which now owns 105,000 shares (or 0.18% of the total shares of the Issuer outstanding). Teachers Insurance and Annuity Association ("TIAA"), as parent of two registered investment advisers, may be deemed to have indirect voting or investment discretion over shares of Issuer's common stock that are beneficially owned by three registered investment companies, the Life Funds, the Institutional Funds and College Retirement Equities Fund ("CREF"), as well as the TCAM Funds, whose investment advisers are Teachers Advisors, Inc. (in the case of Life Funds, Institutional Funds and TCAM Funds) and TIAA-CREF Investment Management, LLC (in the case of CREF), both of which are wholly owned subsidiaries of TIAA. The filing of this statement should not be construed as an admission that TIAA is, for the purpose of Sections 13 or 16 of the Securities Exchange Act of 1934, the beneficial owner of the shares held by Life Funds, Institutional Funds, TCAM Funds, and CREF.
/s/ Maureen M. Milet 06/15/2005
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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