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ACTS Retirement-Life Communities Completes Carlton Cove Acquisition

Adds to its growing family of CCRCs with expansion into Alabama; Community to be renamed Magnolia Trace

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ACTS Retirement-Life Communities Completes Carlton Cove Acquisition

Adds to its growing family of CCRCs with expansion into Alabama;
Community to be renamed Magnolia Trace

WEST POINT, PA, May 30, 2008 - ACTS Retirement-Life Communities, a premier not-for-profit retirement services organization, today announced that it has completed its acquisition of Carlton Cove, a continuing care retirement community (CCRC) in Huntsville, Alabama. The community will be renamed Magnolia Trace and become the 19th ACTS continuing care community and the third retirement community the organization has acquired rather than built. ACTS is a mission-driven, faith-based company formed more than 35 years ago by a Pennsylvania pastor and members of a non-denominational church.

“We are thrilled with the opportunity to expand our mission into Alabama and bring a new era of high quality retirement living to the greater Huntsville area,” said Marvin Mashner, ACTS President and CEO. “We have many exciting plans in store for Magnolia Trace, and we look forward to enhancing the quality of life for Huntsville seniors for many years to come.”

Magnolia Trace is located in south Huntsville, Madison County, and currently has approximately 180 residents and 160 employees. The 43-acre community has 162 independent living apartments and single family homes and also provides personal daily assistance, skilled nursing care and Alzheimer’s/memory support in an on-site health center. Magnolia Trace has numerous amenities and services including formal and casual dining venues, a fitness center, indoor pool, tennis court, woodshop, and many social and recreational activities.

ACTS’ other life care communities are full-service CCRCs offering a mix of independent living and single family homes, assisted living, skilled nursing care and Alzheimer’s care on the same campus. The ACTS life care contract guarantees that a resident’s monthly fee will not increase as a result of moving from independent living to assisted living or to skilled nursing care.

Headquartered in West Point, Pennsylvania, ACTS Retirement-Life Communities, Inc., is the nation’s largest not-for-profit owner, operator and developer of CCRCs. ACTS has approximately 5,375 employees and provides housing and services to more than 8,100 retirees through its family of 19 life care retirement communities in Florida, Alabama, Georgia, South Carolina, North Carolina, and Pennsylvania. All established ACTS communities are accredited by the CARF Continuing Care Accreditation Commission, an independent organization that sets recommended performance standards for the industry. Website: ACTSretirement.com. For information about Magnolia Trace call 256.261.1600.

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