Chartwell Seniors Housing REIT

Chartwell Seniors Housing REIT

March 15, 2005 08:07 ET

Chartwell REIT Announces March 2005 Distribution


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CHARTWELL SENIORS HOUSING REIT

TSX SYMBOL: CSH.UN

MARCH 15, 2005 - 08:07 ET

Chartwell REIT Announces March 2005 Distribution

MISSISSAUGA, ONTARIO--(CCNMatthews - March 15, 2005) - Chartwell Seniors
Housing Real Estate Investment Trust (TSX:CSH.UN) ("Chartwell REIT")
announced today a cash distribution of $0.0888 per Trust Unit for the
month of March 2005. The cash distribution will be payable on April 15,
2005 to Unitholders of record on March 31, 2005.

On February 18, 2005 Chartwell announced a 4% increase in its monthly
cash distributions, effective with the March 2005 payment announced
today. This is Chartwell's first increase in cash distributions since
its Initial Public Offering in November 2003.

Unitholders can participate in Chartwell's Unitholder Distribution
Reinvestment Plan (DRIP). Eligible investors registered in the DRIP will
have their monthly cash distributions used to purchase Trust Units, and
will also receive bonus Units equal to 3% of their monthly cash
distributions. The Plan offers Unitholders the opportunity to steadily
increase their ownership in Chartwell REIT without incurring any
commissions or brokerage fees. Complete details of the DRIP are
available on Chartwell REIT's website at www.chartwellreit.ca or from a
Unitholder's investment advisor.

Chartwell REIT (TSX - CSH.UN) is a growth-oriented investment trust
owning and managing a complete spectrum of seniors housing properties in
selected centres across Canada. Focused solely on the Canadian
marketplace, Chartwell REIT is currently the second largest participant
in the Canadian seniors housing business. Chartwell REIT will capitalize
on the strong demographic trends present in its markets to grow
internally and through accretive acquisitions. Chartwell REIT also has
an exclusive option to purchase stabilized facilities from Spectrum
Seniors Housing Development LP, a seniors housing development company.

Certain statements contained in this news release may include
forward-looking information with respect to Chartwell Seniors Housing
Real Estate Investment Trust's operations and future financial results.
Such statements are based on current expectations, are subject to a
number of uncertainties and risks, and actual results may differ
materially from those contained in such statements. These uncertainties
and risks include, but are not limited to, availability of resources,
competitive pressures, changes in market activity and regulatory
requirements. Further information can be found in the disclosure
documents filed by Chartwell Seniors Housing Real Estate Investment
Trust with the securities regulatory authorities, available at
www.sedar.com

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Chartwell Seniors Housing Real Estate Investment Trust
    Mr. Stephen Suske
    Vice Chair and President
    (905) 501-4701
    (905) 501-9107 (FAX)
    ssuske@chartwellreit.ca