Chartwell Seniors Housing REIT

Chartwell Seniors Housing REIT

March 30, 2005 08:59 ET

Chartwell Seniors Housing Real Estate Investment Trust: Treasury Offering Of Trust Units


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CHARTWELL SENIORS HOUSING REIT

TSX SYMBOL: CSH.UN

MARCH 30, 2005 - 08:59 ET

Chartwell Seniors Housing Real Estate Investment
Trust: Treasury Offering Of Trust Units

MISSISSAUGA, ONTARIO--(CCNMatthews - March 30, 2005) - NOT FOR
DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES

CHARTWELL SENIORS HOUSING REAL ESTATE INVESTMENT TRUST ANNOUNCES
COMPLETION OF PUBLIC OFFERING OF $90.3 MILLION OF TRUST UNITS

Chartwell Seniors Housing Real Estate Investment Trust (TSX:CSH.UN)
announced today that it has closed its previously announced public
offering of 6,250,000 trust units for C$14.45 per Unit for aggregate
gross proceeds of C$90,312,500 million to a syndicate of underwriters
led by RBC Capital Markets.

Chartwell REIT is an unincorporated, open-end real estate investment
trust governed by the laws of the Province of Ontario. Chartwell REIT is
a growth-oriented investment trust, which indirectly invests in
Chartwell Master Care LP, which owns and manages a complete spectrum of
seniors housing properties in selected centers across Canada. Chartwell
REIT is currently the second largest participant in the Canadian seniors
housing business.

Additional information on Chartwell Seniors Housing REIT is available on
the REIT's website at: www.chartwellreit.ca.

This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, any securities in any jurisdiction. The
Units have not been and will not be registered under the U.S. Securities
Act of 1933 and state securities laws. Accordingly, the Units may not be
offered or sold to U.S. person except pursuant to applicable exemptions
from registration.

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