Morgan Stanley Investment Management Inc. announcement regarding holdings in Sunrise Senior Living REIT

    TORONTO, April 9 /CNW/ - Morgan Stanley Investment Management Inc.
("MSIM") announced today that on or about May 24, 2006, MSIM together with
certain affiliated entities acquired ownership or control over greater than
10% of the issued and outstanding units of Sunrise Senior Living Real Estate
Investment Trust ("Sunrise REIT" or the "Issuer") (TSX:SZR).
    In connection with its holdings in Sunrise REIT, MSIM and its affiliated
entities have, to date, inadvertently failed to make necessary filings as
required under applicable Canadian securities laws, and are currently taking
steps to fulfill their filing requirements. MSIM and its affiliated entities
will be filing an Early Warning Report as prescribed under applicable Canadian
securities laws in connection with this release.
    As of April 3, 2007, MSIM, and certain of its investment advisory
affiliates, hold 8,517,195 units representing approximately 12.17% of the
outstanding units of Sunrise REIT, over which they have control but not
beneficial ownership. Certain of MSIM's non-investment advisory affiliates
hold 534,104 units representing approximately 0.76% of the outstanding units
of Sunrise REIT, over which they have ownership and control. The aggregate
holdings of 9,051,299 units represents approximately 12.93% of the outstanding
units of Sunrise REIT. The foregoing calculations are based on
70,011,803 units issued and outstanding as at March 28, 2007.
    MSIM, and its affiliated entities, have acquired units of Sunrise REIT
through secondary market trading on the Toronto Stock Exchange and through the
U.S. over-the-counter market. All units of the Issuer acquired by MSIM and its
affiliated entities have been acquired in the ordinary course of business as
passive investments only and not for the purposes of influencing management
control of the Issuer.
    MSIM and its investment advisory affiliates provide asset management
services to clients, generally on a discretionary basis. In the ordinary
course of its advisory business, MSIM and its affiliated investment advisory
entities exercise control and direction over securities held in client
    Affiliated entities of MSIM having holdings included in this release are
Morgan Stanley Investment Management Limited, Morgan Stanley Asset &
Investment Trust Management Company Limited, Morgan Stanley Investment
Advisors Inc., Van Kampen Asset Management, Morgan Stanley & Co. International
Limited, Morgan Stanley Canada Limited, and Morgan Stanley & Co. Incorporated.

For further information:

For further information: and to obtain a copy of the Early Warning
Report in connection with this release please contact Erica Platt, Corporate
Communications, at (212) 762-6848. The report will also be available at Morgan Stanley Investment Management Inc., 1221 Avenue of the
Americas, New York, NY, 10020

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