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Michael Lanahan, Greystone Communities Inc.                     March 18, 2009

972-402-3700

Greystone Is Once Again a Privately Held Corporation

Irving, Texas: Irving-based, Greystone Communities today announced an employee group has purchased the company back from parent Sunrise Senior Living so as to once again be a privately-held company.  Greystone is the leading full-service development and management consultant to the non-profit senior living industry. The company’s services include market and financial analysis, planning, finance, development, marketing, and operations management.

"Greystone can best serve its clients and their customers as a privately-held corporation," stated Mike Lanahan, Greystone Chairman. "Our repurchase was made possible through investments by a core group of Greystone’s 200 employees." Leadership of Greystone will remain intact including Mike Lanahan, Chairman; Paul Steinhoff, Co-Chairman and CEO; Mark Andrews, President; and John Spooner, Executive Vice President.

"The entire Greystone team is fully focused on delivering state-of-the-art services to our clients and creating value for owners and their residents," added Lanahan.

Founded in 1982, Greystone is an industry leader having assisted non-profit sponsors with the development of more than 110 senior living communities, and successful in acquiring more than $6.5 billion in capital to fund projects.  In the past four years as a Sunrise company, Greystone successfully developed 23 senior living communities requiring more than $2 billion in capital, and also doubled its management business.  Greystone currently has a backlog of more than $1 billion in senior living developments.

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