AMERICAN RETIREMENT

American Retirement is a national senior living and health care services company providing a broad range of care and services to the elderly, including independent living, assisted living, skilled nursing, and home health care services. Established in 1978, the Company believes it ranks among the leading operators in the senior living and health care services industry. Currently, the Company operates 19 senior living communities in 12 states, consisting of ten owned communities, two leased communities, and seven managed communities, with an aggregate capacity for approximately 5,500 residents.