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

nancings, sales of assets and recapitalizations, including certain of the transactions described earlier in this release under "Recapitalizations and Asset Sales".

Sunrise reiterated that the restatement does not affect Sunrise's cash flow, as cash was received several years earlier at the time of the original transaction, or the cumulative amount of profits and losses it generates from its partnerships or sales of real estate. The restatement, however, will impact the timing of when profits and losses are recognized.

In addition to the matters described above, as disclosed on July 25, 2007 and on September 28, 2007, the Company will record non-cash compensation expense related to a 1998 repricing for almost 300 employees and certain other stock option grants. The Company has now substantially quantified the amount of the non-cash compensation expense that it expects it will be required to record as part of its restatement with respect to the 1998 repricing and these other stock option grants, which amount totals approximately $42 million pre- tax, or approximately $26 million after tax, on a cumulative basis for all periods impacted. Approximately 80 percent of this estimated pre-tax expense relates to periods prior to 2003. The reduction to net income resulting from the expected adjustments to stock option expense is offset by an increase to contributed capital so there is no expected net impact to total stockholders' equity.

The information contained in this press release regarding the Company's pending restatement remains subject to completion by the Company of its review, to completion of the special independent committee review and to completion by Ernst & Young LLP of its audit. As such, this information is not final or complete and remains subject to change, possibly materially. Further, as previously disclosed, the Company will need to resolve comments received from the SEC staff on the Company's previously filed 2005 Form 10-K and other r
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SOURCE Sunrise Senior Living, Inc.
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