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Sunrise Reports Preliminary Selected Financial and Operating Data for Third-Quarter 2007
Date:11/9/2007

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Sunrise's management believes that total revenue under management and total same-community revenues, average daily rate, occupancy and expenses are useful indicators of trends in Sunrise's management business. For such data broken down by consolidated communities and unconsolidated ventures, please refer to the Supplemental Information attached. The preliminary financial data and operating metrics provided herein are not necessarily indicative of the results of operations of the Company for the three and nine months ended September 30, 2007 and 2006. Because the Company's restatement of its financial statements has not been completed, Sunrise is unable at this time to provide a reasonable estimate of either its third quarter 2007 or third quarter 2006 results of operations.

Recapitalizations and Asset Sales

When the majority equity partner in one of Sunrise's ventures sells its equity interest to a third party, the venture frequently refinances its senior debt and distributes the net proceeds to the equity partners. All equity distributions are first recorded as a reduction of book equity, and distributions in excess of book equity are recorded as equity in earnings on our consolidated statement of income. Sunrise refers to these transactions as "recapitalizations." The Company had two significant recapitalizations during the nine months ended September 30, 2007 (19 communities) and three recapitalizations in 2006 (36 communities). These transactions resulted in cash distributions of more than $140 million.

Additionally, during the third quarter of 2007, a venture in which Sunrise has an equity interest sold 6 communities in the United Kingdom to another venture in which Sunrise has an equity interest. As a result of the sale, Sunrise received cash distributions of approximately $33 million.

Both the recapitalization and the asset sales described above are expected to result in material income. Because the Company's restatement has
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SOURCE Sunrise Senior Living, Inc.
Copyright©2007 PR Newswire.
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