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Sunrise Files 2007 Form 10-K
Date:7/31/2008

ion for 2007 and 2006. Net loss for 2007 was $70.3 million, or ($1.41) per fully diluted share as compared to restated net income of $15.3 million, or $0.30 per fully diluted share in 2006. Included in the 2007 pre-tax loss are charges of $177 million related to losses on guarantees, impairments and write downs related to certain of the Company's ventures, acquisitions and investments as well as losses resulting from the Company's accounting restatement and related matters. In addition, during the first two quarters of 2008, the Company expects to record $22 million in charges for discontinuation of its condominium projects and $23 million in charges in legal and accounting fees related to the Company's accounting review and investigations. These items are described in greater detail in the Company's 10-K filing under the section "Management's Discussion and Analysis of Financial Condition and Results of Operations."

The Company expects to file its first and second quarter Form 10-Qs for 2008 by August 20, 2008, and September 10, 2008, respectively.

Strategic Plan and Objectives

The Company also announced its strategic plan, which consists of the following key elements:

-- focus on the core business of building and operating high-quality assisted living and memory care communities to drive profitability;

-- strengthen the Company's existing portfolios to minimize exposure to future losses;

-- reduce corporate expenses and operating cost structure;

-- preserve financial flexibility during difficult capital markets by reducing the Company's development pipeline as needed; and

-- build Sunrise's brand and reputation by continuing to provide the highest levels of care and quality.

Sunrise's previously disclosed development plan for 2008 included a development pipeline of 3,200 to 3,400 units. Based on current capital market conditions, this number is expected to be decreased by up to 50 percent, which includ
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SOURCE Sunrise Senior Living, Inc.
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