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

a result of a review of the goodwill

related to the Company's hospice business acquired in 2006, Trinity

Hospice, Inc. ("Trinity"), the Company expects to record a material

impairment loss in 2007 relating to its investment in Trinity. The

amount of the impairment loss has not yet been determined, but is

expected to be material. At December 31, 2007, the goodwill and

intangible assets related to the acquisition of Trinity totaled

approximately $69 million.

-- Senior Living Condominium Developments. As disclosed in the Company's

press release dated November 9, 2007, Sunrise expects to record a loss

of approximately $23 million due to a commitment to fund actual project

costs in excess of budgeted project costs. During 2007, Sunrise expects

to record an additional loss of $7 million due to an increase in the

budgeted project costs. Sunrise plans to seek reimbursement for some

of these overages. However, there can be no assurance that Sunrise will

be reimbursed for any of these overages. As also disclosed in the

Company's press release dated November 9, 2007, the Company expects to

record pre-tax charges totaling approximately $21 million to write off

capitalized development costs for four discontinued condominium

projects.

-- Legal and Accounting Fees Related to Accounting Review, Special

Independent Committee Investigation and Related Matters. During 2006,

the Company incurred approximately $3 million for legal and accounting

fees related to its accounting restatement. During 2007, the Company

incurred legal and accounting fees of approximately $42 million related

to the accounting restatement, the Special Independent Committee

investigation, the SEC investigation and responding to various

shareholder actions.

The anticipa
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SOURCE Sunrise Senior Living, Inc.
Copyright©2008 PR Newswire.
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