CHICAGO, March 21, 2003 - GE Healthcare Financial Services recently provided $45 million in first mortgage financing on three senior housing properties managed by Aegis Assisted Living. All three properties were financed with floating rate mini-perm loans.

In one transaction, GE Healthcare Financial Services provided a $28 million first mortgage loan that facilitated the sale-leaseback of Aegis of Corte Madera. Aegis Assisted Living sold the property to a local real estate investor for $35 million and subsequently executed a long-term lease of the property. Aegis of Corte Madera is a 118-unit assisted living facility located in Corte Madera, CA.

In a separate transaction, GE Healthcare Financial Services provided Aegis Assisted Living a $17 million first mortgage loan to refinance two properties -- Aegis of Granada Hills, an 82-unit assisted living facility located in Granada Hills, CA, and Aegis of Las Vegas, a 53-unit Alzheimer care living facility located in Las Vegas, CA.

"GE Healthcare Financial Services has proven the value of a strong relationship. While others say they are committed to the business, GE's actions prove that they are," said Joe Lin, CFO of Aegis Assisted Living. "We want to do business with an organization that understands the industry, our operating model and will be there for us regardless of the market conditions - that's GE Healthcare Financial Services."

"Our healthcare team has the experience to evaluate and understand credit risks other lenders are avoiding," said Curt Schaller, senior housing team leader for GE Healthcare Financial Services. "As a result, we offer our customers innovative financing products and the certainty of execution that they need."

Aegis Assisted Living is a west coast based operator of 19 senior housing facilities. It manages properties in California, Nevada and Washington. Aegis Assisted Living was co-founded in 1997 by Dwayne Clark and William Gallaher. A management team with nearly 200 years of experience backs Aegis' reputation as a trendsetter in senior housing. In addition, the company's development team has been building upscale senior housing for over 20 years.

GE Healthcare Financial Services is the premier provider of capital, financial solutions and related services for the global healthcare market. With $9 billion in assets, GE Healthcare Financial Services offers a full range of financing capabilities from equipment leasing and real estate financing to working capital lending and equity investing. With a dedicated focus and a deep knowledge of the healthcare industry, GE Healthcare Financial Services collaborates with customers to create tailored financial solutions that help them improve their productivity and profitability. GE Healthcare Financial Services' website is .

Media Contacts

Deia Campanelli
GE Healthcare Financial Services
312-441-6169