Extendicare Announces Appointment of New CFO

MARKHAM, ON--(Marketwired - May 27, 2015) - Extendicare Inc. ("Extendicare" or the "Company") (TSX: EXE) announced today that Elaine E. Everson, currently the Company's Vice-President and Controller, will succeed Dylan T. Mann as Chief Financial Officer effective with the completion of the sale of substantially all of the Company's U.S. business (the "U.S. Sale Transaction"), which is expected to occur at the end of June 2015.

Elaine Everson has been with Extendicare in various financial roles since 1985, and has served as the Company's Vice-President and Controller since 1994. Prior to joining Extendicare, Ms. Everson worked as a Chartered Accountant in public practice with Thorne Riddell, a predecessor firm to KPMG LLP. Ms. Everson is a CPA, CA and holds a Bachelor of Mathematics degree from the University of Waterloo.

Dylan Mann has been serving as Extendicare's Senior Vice President and Chief Financial Officer since July 2013. Mr. Mann, who works out of our U.S. head office, and resides with his family in Milwaukee, Wisconsin, has decided to remain in the United States following the completion of the U.S. Sale Transaction.

"I want to thank Dylan for his contributions to Extendicare, especially through the challenging and complex undertaking during the past few years to separate and sell our U.S. business. I wish him much success in his future endeavours," said Tim Lukenda, President and CEO of Extendicare.

"I look forward to working with Elaine in her new capacity as CFO. Her previous experience with Extendicare is a significant asset and makes her a perfect fit for this expanded role at this time. Dylan, Elaine and I will work closely together to ensure a smooth transition of the CFO position," Lukenda added.

ABOUT US
Extendicare is a leading provider of care and services for seniors in Canada. Through our network of 112 operated senior care centres (58 owned/54 managed), as well as our home health care operations, we are committed to delivering care throughout the health care continuum to meet the needs of a growing seniors' population in Canada. Our qualified and highly trained workforce of 22,400 individuals is dedicated to helping people live better through a commitment to quality service and a passion for what we do. As previously reported, our U.S. senior care operations have been classified as discontinued, with sale transactions expected to close by the end of June 2015.

Forward-looking Statements
Information provided by Extendicare from time to time, including this release, contains or may contain forward-looking statements concerning anticipated financial events, results, circumstances, economic performance or expectations with respect to Extendicare and its subsidiaries, including, without limitation, statements regarding its business operations, business strategy, and financial condition. Forward-looking statements can be identified because they generally contain the words "expect", "intend", "anticipate", "believe", "estimate", "project", "plan" or "objective" or other similar expressions or the negative thereof. Forward-looking statements reflect management's beliefs and assumptions and are based on information currently available, and Extendicare assumes no obligation to update or revise any forward-looking statement, except as required by applicable securities laws. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of Extendicare to differ materially from those expressed or implied in the statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on Extendicare's forward-looking statements. Further information can be found in the disclosure documents filed by Extendicare with the securities regulatory authorities, available at www.sedar.com and on Extendicare's website at www.extendicare.com.