Press Release

Contact:
Pat Brown
Executive Vice President of Construction
(408) 741-7600

NOW OPEN!
Residents Move Into Saratoga Retirement Community

(Saratoga, California) – January 10, 2005 – With construction of the $72 million project complete, Saratoga Retirement Community (SRC) now offers exceptional senior living and brand new area jobs. On December 27, after 5 years of development and construction, SRC opened its doors and welcomed residents to their new homes at this brand new Continuing Care Retirement Community. By the end of this week, 50 of the 143 apartments and cottages will be occupied, with additional residents scheduled to move in over the next several months. All totaled, the campus can now provide accommodations and services to more than 450 seniors.

SRC’s 37-acre campus was developed in two phases. Phase I, which was completed in 2001, entailed building a brand new Assisted Living Center and a brand new Health Care Center offering skilled nursing.

Once work on Phase I was finished, Phase II got underway with the construction of 39 Residential Living cottages; 104 Residential Living apartments; and a Fitness Center offering a stunning glass-walled indoor pool and spa and exercise equipment especially designed for seniors.

Phase II also included renovating the main historic building that was built on the site in 1912 by the Independent Order of Odd Fellows, a fraternal group that was formed in the U.S. more than 150 years ago. This magnificent structure, now called Saratoga Manor, houses several apartment homes as well as the amenities offered on campus.

“Most people are just in awe when they see the Saratoga Manor building,” says Executive Vice President of Construction Pat Brown. “You just have to see it. The project team [Ankrom Moisan Associated Architects and Barry Swenson Builders] did a great job restoring it to the original grand appearance.”

Freshly adorned with Spanish Mission-style decor and modern conveniences, the Manor is an impressive focal point and serves as a central hub for resident life. It contains a Club/Bar Lounge, a country-club style Dining Room, a Wine Tasting Room, several private dining rooms for parties and private events, a Computer Learning Center, Arts and Crafts Rooms, and a Library.

“We were happy to complete the project before the end of the year,” says Regional Vice President Mark Blazer. “The residents were very excited to move in, and they have been extremely pleased with their apartments and the common spaces, as well as our exceptional dining program.”

The new campus has attracted large numbers of Saratoga seniors. Because these seniors have sold their homes to move to SRC, the greater Saratoga community is benefiting from the availability of many exceptional homes coming onto the market. Another way SRC’s presence in the area benefits the local community is by creating approximately 50 new employment opportunities.

Plans for an official Grand Opening Celebration are still in the works, however both the media and public are invited to visit the campus and tour the new buildings now. Interviews with new residents can also be arranged. Please call the Marketing Office at 408-741-7194 to schedule a convenient time.

Saratoga Retirement Community is owned by the Independent Order of Odd Fellows and Rebekahs, and is managed by an affiliate of Pacific Retirement Services, Inc. (PRS). PRS is a leader in senior housing, which develops and operates seven affiliated Continuing Care Retirement Communities; four managed communities; and twenty-six affordable housing communities for low-income seniors throughout Oregon , California , Washington , and Texas . For more information on PRS or any of its affiliates, visit www.retirement.org.

# # #