3,200,000 Shares of 8.00% Series B Cumulative Preferred Stock WINSTON HOTELS, INC. UNDERWRITING AGREEMENT January 22, 2004 BEAR, STEARNS & CO. INC. WACHOVIA CAPITAL MARKETS, LLC FRIEDMAN, BILLINGS, RAMSEY & CO., INC. RAYMOND JAMES & ASSOCIATES, INC....Underwriting Agreement • January 23rd, 2004 • Winston Hotels Inc • Real estate investment trusts • New York
