CHICAGO, October 27, 2004 -- Provident Senior Living Trust ("Provident"), a new real estate investment trust focused on acquiring senior living properties, has received a $135 million senior secured revolver from GE Healthcare Financial Services. Provident will use the five-year line of credit to acquire senior living properties and to provide capital for corporate operations.

"We are pleased to be working with GE Healthcare Financial Services and were impressed with the execution in completing this transaction," said Darryl W. Copeland, Jr., Provident's chairman and CEO. "This line of credit initially will be used to acquire 38 senior living properties. GE's ability to commit to and execute this in a short time period was important to us."

"Our industry acumen and strong financial position give us tremendous flexibility in developing financing to meet each customer's needs as well as providing certainty of execution," says John Cobb, managing director of long-term care for GE Healthcare Financial Services. "Customers like Provident seek out those qualities in a financing partner, and that's why we are so focused on delivering against these expectations every time."

GE Healthcare Financial Services, a unit of GE Commercial Finance, is a provider of capital, financial solutions, and related services for the global healthcare market. With over $13 billion of capital committed to the healthcare industry, GE Healthcare Financial Services offers a full range of capabilities from equipment financing and real estate financing to working capital lending, vendor programs, and practice acquisition financing. With its knowledge of all aspects of healthcare from hospitals and long-term care facilities to physicians' practices and life sciences, GE Healthcare Financial Services works with customers to create tailored financial solutions that help them improve their productivity and profitability. For more information, visit .

Provident Senior Living Trust is a real estate investment trust headquartered in Princeton, New Jersey. Provident focuses on acquiring income producing senior living properties, primarily independent and assisted living properties, located in the United States, that derive substantially all of their revenues from private pay sources. Provident has invested approximately $1 billion in 68 senior living properties in 19 states containing 6,819 units.

Media Contacts

Deia Campanelli
GE Healthcare Financial Services
312-441-6169