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

estated revenue amounts is due to the reduction in reimbursable contract services revenue as part of the restatement, for which there is an offsetting reduction in expense. Restated net income for 2005 totaled $87.1 million, or $1.82 per fully diluted share, as compared to the $79.7 million, or $1.67 per fully diluted share, that the Company previously reported. Restated net income for 2004 totaled $1.1 million, or $0.03 per fully diluted share, as compared to the $50.7 million, or $1.12 per fully diluted share, that the Company previously reported.

For 2006, the Company reported revenues of $1,648 million and net income of $20.4 million, or $0.40 per fully diluted share.

"The Board is pleased that the restatement is now complete," said Lynn Krominga, Chairman of the Board. "We appreciate the collaborative efforts of the NYSE staff, particularly over the past several days, which have enabled our stock to continue uninterrupted trading. Today's filing, and our recently announced corporate governance changes, significantly advance our efforts to create value for our shareholders."

"The restatement has been a complex and demanding task, and I want to thank all our team members who have tirelessly dedicated their time and efforts," said Paul Klaassen, founder and chief executive officer of Sunrise. "I also want to thank our shareholders, capital partners and lenders for their consistent support, which has allowed us to maintain and expand our business during this time. Now that our restatement is complete, we have a solid foundation on which to move forward with our business. With our recently- announced enhanced corporate governance, continued growth and reputation for championing quality of life for seniors and their families, we believe Sunrise is well positioned for the future."

"Today's filing of the 2006 Form 10-K and completion of the accounting restatement are significant steps towards becoming a current filer," said Rick Nadeau, chie
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SOURCE Sunrise Senior Living, Inc.
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