X0202 4/A 2005-06-22 2004-10-07 0 0000914373 JAMESON INNS INC JAMS US 0000315038 TEACHERS INSURANCE & ANNUITY ASSOCIATION OF AMERICA 730 THIRD AVE NEW YORK NY 10017 0 0 1 0 Common Stock 2005-06-22 2005-06-23 4 S 0 92950 2.47 D 5912000 I registered investment company Common Stock 2005-06-22 2005-06-23 4 S 0 13520 2.47 D 5912000 I registered investment company Common Stock 2005-06-22 2005-06-23 4 S 0 10140 2.47 D 5912000 I private funds See remarks below. The 92,950 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 2,670,275 shares (or 4.68% of the total shares of the Issuer outstanding). The 13,520 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 354,040 shares (or 0.62% of the total shares of the Issuer outstanding). The 10,140 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 84,030 shares (or 0.15% 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 Institutional Funds, the Life Funds and College Retirement Equities Fund ("CREF"), as well as the TCAM Funds, whose investment advisers are Teachers Advisors, Inc. (in the case of Institutional Funds, Life 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 2005-06-24