Sunrise REIT announces receipt of letter from HCP

    TORONTO, March 1, 2007 /CNW/ - Sunrise Senior Living Real Estate
Investment Trust ("Sunrise REIT") (TSX:SZR.UN) announced today that it has
received a further letter from Health Care Property Investors, Inc. ("HCP").
In that letter HCP requested that if Ventas modifies its offer, the Special
Committee not agree to any arrangement which would preclude or make more
difficult HCP's ability to improve their previous offer either financially or
in terms of conditionality. HCP stated it was prepared to immediately discuss
modifications to their prior conditional proposal, including their willingness
to remove the closing condition relating to Sunrise Senior Living, Inc. HCP
has not amended the previous conditional proposal that it made to Sunrise
    The court proceedings involving, among others, Sunrise REIT, Ventas, Inc.
and HCP are scheduled for 10 a.m. (EST) today in Courtroom 8-1 at the offices
of the Ontario Superior Court of Justice (Commercial List) at 330 University
Avenue, Toronto, Ontario, Canada

    About Sunrise REIT (TSZ:SZR.UN)

    Sunrise REIT was formed to indirectly acquire, own and invest in
income-producing senior living communities in major metropolitan markets and
their surrounding suburban areas in Canada and the United States. Sunrise REIT
owns 74 senior living communities, 11 in Canada and 63 in the United States.
All of Sunrise REIT's senior living communities are managed by Sunrise Senior
Living, Inc. one of the largest providers of senior living services in North
America. Sunrise REIT also directly acquires interests in newly developed
senior living communities through development and financing arrangements with
Sunrise Senior Living, Inc.

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