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Sunrise Reports Preliminary Selected Financial and Operating Data for Fourth-Quarter 2007
Date:3/3/2008

30 million was

restricted for use by the Company's self-insurance program and another

approximately $40 million was restricted for other purposes. The

Company had approximately $250 million in debt outstanding at year-end.

-- There were $100 million in borrowings and $71.7 million in letters of

credit outstanding under the Company's bank credit facility. On

December 31, 2007, the Company had capacity to borrow up to an

additional $78.3 million under this facility.

-- As disclosed previously, on January 31, 2008, the Company amended its

$250 million bank credit facility to waive and modify certain delivery

dates for its financial statements. In addition, effective February

20, 2008, the amount available for borrowing under the bank credit

facility was reduced to $160 million until the Company furnishes the

lender with 2006 and 2007 audited financial statements.

-- On February 20, 2008, Sunrise Senior Living Insurance, Inc., Sunrise's

wholly owned insurance captive, directly issued $43.3 million of

letters of credit that had previously been issued under the bank credit

facility.

-- As of February 29, 2008, the Company had borrowings of $108 million,

letters of credit of $28.4 million and borrowing availability of

approximately $23.6 million under the bank credit facility. The

Company believes this availability, unrestricted cash balances, and

unlevered real estate assets is sufficient to support the Company's

operations over the next twelve months.

Accounting Restatement

-- Sunrise currently estimates that the cumulative impact of the

previously disclosed restatement issues will reduce net income for all

periods impacted, including 1996 through 2005, by approximately $140

million, excluding the impact of the stock option adjustments
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SOURCE Sunrise Senior Living, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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