PACIFIC RETIREMENT SERVICES GOES NATIONAL

(Medford, Oregon) November 14, 2007 - Pacific Retirement Services, Inc. (PRS), a nationally recognized not-for-profit senior housing development, management, and marketing organization in the west, announced this week that it is expanding its business to serve seniors throughout the United States. President and CEO Tom Becker made the announcement to industry professionals at a special PRS event held in conjunction with the recent American Association of Homes and Services for the Aging (AAHSA) annual convention, stating that PRS has opened a brand-new corporate office in Memphis, Tennessee.

Primary members of the new PRS office—Martin Satava, Jackie Woodard, and Kent Phillips—were also introduced at the event. These three professionals have worked together for several years serving the Senior Living industry in the eastern U.S. and are contributing a combined 54 years of experience to the expansion.

“Our mission to create and enhance lifestyle opportunities for seniors is not limited to the western half of the United States; however, our corporate headquarters are on the West Coast,” says Tom Becker. “Rather than have staff members spend large amounts of time traveling from coast to coast, we felt it would be more effective to open another PRS office to serve seniors in the Midwest, South, and Eastern Seaboard. We feel very lucky to have recruited some of the finest talent in Senior Living to run the new office.”

Martin Satava is heading up the new Memphis office as PRS Executive Vice President of Development, overseeing all aspects of the development and acquisition of new Continuing Care Retirement Communities (CCRCs). In his previous position, Martin was responsible for approximately $1 billion in successful CCRC developments, handling contract negotiations and financing, development management, and the creation and implementation of corporate strategies, among other duties. Martin has served the industry for 24 years and was one of the first attorneys in the southeast to specialize in CCRC development and financial transactions. He holds a bachelor’s degree from Stetson University and a Juris Doctorate from Florida State University’s College of Law.

Working alongside Martin are Kent Phillips, PRS Vice President of Finance, who has 20 years of experience in Senior Housing operations and finance and an MBA from the University of Texas at Dallas; and Jackie Woodard, PRS Vice President of Development, with 10 years of experience in the development and financing of luxurious Senior Living communities and a bachelor’s degree in Management Information Systems from the University of Memphis.

Pacific Retirement Services owns, operates, manages, and markets a family of 50 Senior Living communities and service organizations, and contracts its services to support the success of other retirement communities. In 2006 PRS introduced its new Mirabella brand of urban CCRCs, including Mirabella Seattle, which is under construction now in South Lake Union, and the award-winning Mirabella Portland, planned for the river-view South Waterfront area.

PRS is also committed to enhancing the lives of low-income seniors by partnering with cities to provide affordable senior housing through its Community Housing division. Currently there are 25 affordable communities by PRS, with more in development. It operates nonprofit foundations that assist residents and seniors in the local community, and volunteer organizations that offer needed services to seniors, children, and the disabled through its Community Services division. PRS developed and operates two golf courses and is developing two hotels—whatever will assist and fulfill the lives of residents and their families.

The new PRS office is located at 775 Ridge Lake Blvd., Suite 420, Memphis, TN 38120. For more information, call the new office at (901) 762-0148, or call PRS headquarters at (888) 724-6424 and visit www.retirement.org.

About Pacific Retirement Services, Inc.

Pacific Retirement Services, Inc., is a not-for-profit corporation and a national leader in the Senior Living industry. Headquartered in Medford, Oregon, PRS currently has approximately 1,600 employees and provides housing and services to more than 4,000 seniors through its many affiliated organizations, including seven Continuing Care Retirement Communities (CCRCs), two managed retirement communities, and twenty-five affordable housing communities. Among its CCRCs are the 668-acre Rogue Valley Manor in Medford, Oregon; Holladay Park Plaza in Portland, Oregon; Cascade Manor in Eugene, Oregon; University Retirement Community in Davis, California; and Trinity Terrace in Fort Worth, Texas.

Contact:  Tom Becker, PRS President and CEO: (541) 857-7211