History

Manorhouse Management Inc., ("Manorhouse") acquires, develops, owns and manages quality assisted living retirement communities. Headquartered in Richmond, Virginia, Manorhouse places its primary emphasis in the mid-Atlantic region, where it is recognized as a premier provider of care and service to the dependent, frail elderly.

The Company's founder, Ken Newell, has 30 years of experience in managing and owning assisted living and other healthcare related facilities. Newell was the former Chairman and CEO of Manorhouse Retirement Centers, Inc. which he founded in 1994. Newell, with a passion for providing quality care and service, has helped Manorhouse develop a solid foundation based on (i) continuous quality improvement, (ii) a commitment to staff training and development and (iii) a strong financial platform.

"We recognize the importance of delivering our assisted living product in an upscale, hospitality setting. However, we also recognize that we are in the healthcare business, and to be successful, we must also provide our residents comprehensive assistance with their healthcare needs. Many of our competitors have built attractive buildings, but they struggle when it comes to meeting the more challenging healthcare requirements of their residents. As a result, residents and their families have turned to Manorhouse to address their needs. At Manorhouse, they find peace of mind knowing that care is being provided by a team of professionals dedicated and trained to accommodate their unique and individual needs," notes Newell.

Newell adds, "Our Levels of Care Program allows residents to age-in-place as they become more frail. For this, families are grateful. From our Level 1 service for the more independent assisted living resident to the special care and service offered in our Pavilion (for the memory impaired), Manorhouse offers logical and reasonable solutions to residents and families who require assisted living care."

"At Manorhouse, we're committed to defining quality of life for seniors in assisted living. It's our goal to be the assisted living community of choice in each of our targeted markets. Together, with personal dedication and a genuine respect for our residents, our staff consistently addresses our Company mission .... to exceed customer expectations in a unique and outstanding way," states Newell.

The Manorhouse hallmark of superior care and service is based on a genuine commitment to quality and employee training. The Company has a focused business strategy and an experienced management team. The Company's management team has significant industry and healthcare backgrounds. Manorhouse maintains an ongoing commitment to quality, a special orientation towards service and an integrated approach to incorporating its assisted living product into community healthcare systems.

Manorhouse properties offer a combination of housing and personalized health and support services for seniors who are no longer able to live independently, but do not require the level of medical care provided in more costly and institutional skilled nursing facilities. The Company emphasizes its healthcare focus in a residential, home-like setting. Manorhouse operates flexible, purpose-built models designed specifically to accommodate the increasing frailty and anticipated healthcare demands of our aging population.

Addressing the Needs of the Population
As demographic trends create an ever-growing demand for care for the elderly and the shortage of nursing home beds becomes more acute, the spotlight will fall on assisted living to address these needs in a home-like setting. Manorhouse emphasizes affordable residential environments that provide not only quality care but, just as important, a cost-effective alternative. At Manorhouse, we answer the growing need for a new approach to caring for our elderly.

We believe that a variety of demographic and societal forces are currently at work that are reshaping how and where people live in their older years. The traditional extended family, with three generations living in the same home or near one another, is becoming less prevalent with the increased mobility of today's society. In addition, increased life spans and the higher quality of life in later years brought about by medical advances has created the need for a greater number and variety of residential alternatives for older Americans. These trends have fueled the development of an entire industry directed at enabling older people to continue active lifestyles.

From its inception, Manorhouse realized that as elderly parents grow more dependent, their adult children are often faced with the dilemma of (i) hiring outside care providers, (ii) bringing their aging parents into their own home or (iii) securing institutional care. For older persons that value their independent lifestyle, but require assistance with certain daily activities, none of these alternatives is generally desirable. For adult children, these alternatives may prove financially, emotionally or socially disruptive. For those attempting to care for dependent parents over long distances, there is added difficulty in coordinating the medical, financial and other services needed by their parents.

Manorhouse delivers care and services to the dependent elderly in an efficient and affordable manner, bridging the gap between those individuals capable of living a totally independent lifestyle and those who are dependent on nursing homes or acute care facilities. Manorhouse maintains a careful balance between the residential feel of its communities and its healthcare related services.

Manorhouse ..... caring for the needs of seniors and their families.

Chattanooga, TN (423) 870-5900 Knoxville, TN (865) 670-0504 Richmond, VA (804) 360-7777

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