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Sunrise Reports Financial Results for Fourth Quarter and Full-Year 2008
Date:3/2/2009

s of February 27, 2009, the lender to Sunrise's Fountains venture had not yet agreed to Sunrise's request for a standstill agreement through March 31, 2009. Sunrise is also engaged in discussions with various venture partners and third parties regarding the sale of certain assets with the purpose of increasing liquidity and reducing obligations to enable Sunrise to continue operations. There can be no assurance that any of these discussions will result in the consummation of any transaction.

The Company believes it is in the best interests of all of its creditors to grant such waivers or reach negotiated settlements with Sunrise to enable the Company to continue operating. However, there can be no assurance that such waivers will be received or such settlements will be reached. If the defaults are not cured within applicable cure periods, if any, and if waivers or other relief are not obtained, the defaults can cause acceleration of the Company's financial obligations under certain of its agreements, which the Company may not be in a position to satisfy. There can be no assurance that any of these efforts will prove successful. In the event of a failure to obtain necessary waivers or otherwise achieve a restructuring of its financial obligations, Sunrise may be forced to seek reorganization under the U.S. Bankruptcy Code. The existence of these factors raises substantial doubt about the Company's ability to continue as a going concern and its auditors have modified their report with respect to the 2008 consolidated financial statements to include a going concern reference.

Corporate Expenses and Operating Cost Structure

As previously announced, in light of the difficult financial environment, the Company initiated a plan in the third quarter of 2008 to reduce its general and administrative expense, development and venture support headcount and certain non-payroll costs with the expectation of reducing
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SOURCE Sunrise Senior Living, Inc.
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1. Sunrise to Host Conference Call and Webcast to Discuss Fourth-Quarter and Full-Year 2008 Financial Results
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3. Sunrise Receives Proceeds from Venture Refinancing
4. Sunrise Reports Financial Results for Third Quarter 2008
5. Sunrise Provides Update on HCN Transaction
6. Sunrise to Host Conference Call and Webcast to Discuss the Companys Financial Results for the Third Quarter 2008
7. Sunrise Senior Living Appoints Glyn Aeppel and David Fuente to its Board
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