Abacus acquires Residence La Voliére retirement complex

    TORONTO, Feb. 21 /CNW/ - Abacus Seniors Living is pleased to announce the
acquisition of Residence La Voliére, a 180 suite retirement complex located in
Saint-Charles-Borromée, Quebec. The complex is well located on 5.5 acres in a
developing area on the outskirts of Joliette, Quebec and provides a full range
of retirement suites and apartments catering to independent seniors.
    "We are impressed by the long history of high occupancy at the home and
the strong seniors population in the Joliette region" said Michael Chandler,
Director of Abacus Seniors Living. "This is our first venture into the
retirement sector and we view it as a natural evolution to complement our
presence in the long term care sector in Ontario."

    About Abacus Seniors Living

    Abacus Seniors Living was created to acquire and operate seniors housing
in Canada and the United States. To date it has completed acquisitions in
Ontario and Quebec representing approximately 1,600 beds. Abacus Seniors
Living is comprised of a highly regarded and experienced team of professionals
that have developed a network of industry experts and an in-depth
understanding of the economic drivers, inherent risks, and opportunities for
growth and improvement in the nursing and retirement home industry.

    About Abacus Private Equity

    Abacus Private Equity Group is an independent, entrepreneurial investment
firm that has been acquiring Canadian and international corporations and
partnerships since 1996. Since 2005 Abacus has acquired in excess of $1.5
billion in assets through its affiliated divisions. Abacus possesses depth of
knowledge, expertise in diverse industries and substantial resources for new
opportunities and is committed to making equity investments for long-term
value appreciation. Visit www.AbacusPE.com for more information.

For further information:

For further information: Michael Chandler, T: (416) 214-3342, Email:
mchandler@abacusseniorsliving.com, Web: www.AbacusPE.com

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