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Sunrise Files 2006 Form 10-K
Date:3/24/2008

Completes Financial Restatement and Accounting Review

Meets NYSE Deadline for Continued Trading

MCLEAN, Va., March 24 /PRNewswire-FirstCall/ -- Sunrise Senior Living, Inc. (NYSE: SRZ) today announced that this morning it has filed its Form 10-K for the year ended December 31, 2006 with the Securities and Exchange Commission (the "SEC") and has now completed its financial restatement and accounting review. In addition, the Company announced that by filing the 2006 Form 10-K it has met the New York Stock Exchange ("NYSE") extended deadline of filing prior to the opening today for the Company's common stock to continue to trade on the NYSE. As a result, trading in the Company's stock on the NYSE will not be suspended.

Filing of 2006 Form 10-K and Completion of Restatement and Accounting Review

The 2006 Form 10-K filed today includes restated audited financial statements for 2004 and 2005, audited financial statements for 2006 and unaudited quarterly financial information for 2005 (restated) and 2006.

The cumulative impact of the restatement reduced the Company's net income for all periods affected, including 1996 through 2005, by approximately $173 million, after-tax. This includes $138 million related to the previously disclosed restatement real estate and other adjustments, $27 million related to the impact of the stock option adjustments, and $8 million related to revenue recognition of the Company's Greystone subsidiary. The Company reported restated 2005 and 2004 revenues of $1,509 million and $1,268 million, respectively, as compared to the $1,819 million and $1,446 million, respectively, which the Company had previously reported. Substantially all of the reduction in 2005 and 2004 r
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SOURCE Sunrise Senior Living, Inc.
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