Parkbridge Approves Share Capital Reorganization

    CALGARY, Feb. 21 /CNW/ - Parkbridge Lifestyle Communities Inc.
("Parkbridge" or the "Corporation"), (TSX: PRK and PRK.A) today announces that
at its annual and special meeting of shareholders held February 21, 2008, the
holders of its Common Shares and Non-Voting Shares voted 99.9% and 99.9%,
respectively, in favour of a resolution approving an amendment to the
Corporation's Articles to change each outstanding Non-Voting Share into a
Common Share on a one-for-one basis. In total, 81.3% of the Corporation's
Common Shares and 72.0% of the Corporation's Non-Voting Shares were voted at
the meeting. These results significantly exceeded the two-thirds majority of
those votes cast by holders of Common Shares and Non-Voting Shares, each
voting separately as a class, required to approve the amendment to the
Corporation's Articles. The resolution was also approved by the majority of
the disinterested minority of each class of shares.
    Parkbridge will begin the process necessary to complete the share capital
reorganization. Computershare Trust Company of Canada ("Computershare"), the
Corporation's transfer agent, will provide each registered holder of
Non-Voting Shares with a letter of transmittal to be completed and returned,
along with the holder's Non-Voting Share certificate(s), to Computershare.
Upon receipt by Computershare of the letter of transmittal and Non-Voting
Share certificate(s), Computershare will issue Common Shares of the
Corporation to the holder pursuant to the information provided in the letter
of transmittal. Beneficial holders of Non-Voting Shares should contact their
broker to ensure their shares are dealt with appropriately.
    It is anticipated that the Non-Voting Shares of the Corporation will be
delisted from the Toronto Stock Exchange and the additional Common Shares
issued in exchange for the Non-Voting Shares will be listed on the TSX on or
about February 26, 2008.
    The Corporation's shareholders, at the meeting, also re-elected the
Corporation's Board of Directors, re-appointed Deloitte & Touche LLP as
auditors of the Corporation, approved amendments to the Corporation's stock
option plan and amended and renewed its Shareholder Rights Plan. A summary of
the voting results for each resolution may be viewed at

    The TSX has not in any way passed upon the merits of these transactions,
    has not approved or disapproved the contents of this news release, nor
    does it accept any responsibility for the adequacy of this release.

    This news release contains forward-looking statements concerning the
Corporation's business and operations. The Corporation cautions that, by their
nature, forward-looking statements involve risk and uncertainty and the
Corporation's results could differ materially from those expressed or implied
in such statements. Reference should be made to the most recent Management's
Discussion and Analysis for the three months ended December 31, 2007, the
Corporation's interim consolidated financial statements as at December 31,
2007 and the Annual Information Form dated December 5, 2007. All reports may
be viewed on our website or on the SEDAR website

For further information:

For further information: Mr. Iain Stewart, President, Western Operations
and Co-CEO, Telephone: (403) 215-2109, Email:; Mr.
Glenn McCowan, Chief Financial Officer, Telephone: (403) 215-2175, Email:; Parkbridge Lifestyle Communities Inc., Telephone: (403)
215-2100, Facsimile: (403) 215-2115, 700, 505 - 3rd Street SW, Calgary, AB,
T2P 3E6

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