Retirement Residences Real Estate Investment Trust
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Retirement Residences Real Estate Investment Trust

April 03, 2006 12:06 ET

Retirement Residences Real Estate Investment Trust Appoints Nancy Lockhart and Graham Scott to the Board of Trustees

MISSISSAUGA, ONTARIO--(CCNMatthews - April 3, 2006) - Retirement Residences Real Estate Investment Trust ("Retirement REIT") (TSX:RRR.UN)(TSX:RRR.DB.B)(TSX:RRR.DB.C) announced the appointment of Nancy Lockhart and Graham Scott to the Board of Trustees.

Nancy Lockhart is currently the Chief Administrative Officer of the Frum Development Group, a privately owned Toronto based real estate development company. Ms. Lockhart has spent many years in the retail business, including the position of Vice President, Retail Development of Shoppers Drug Mart, Network Partner at Brewer's Retail and Chief Operating Officer of Jumbo Video Inc. Ms. Lockhart is a director of Loblaws Companies Limited, the past Chair of the Board of Trustees of the Ontario Science Centre, past President of the Canadian Club, and past Chair of the Board of Directors of the Canadian Film Centre.

Graham Scott is a senior partner and former Managing Partner of McMillan Binch Mendelsohn LLP, a Canadian business law firm. He leads the firm's public policy and government issues practice with a particular emphasis on health care issues. Mr. Scott has served as executive assistant to Canada's Leader of the Opposition and as Ontario's Assistant Deputy Attorney General, Courts Administration and Inspector of Legal Offices, Associate Secretary of the Cabinet, Deputy Minister of Environment and Deputy Minister of Health. He serves as Chair of the Board of the Canadian Institute for Health Information (CIHI) and as a Director of Sanofi Pasteur Limited; Director of the Atlantic Salmon Federation and Director of the Institute for Research on Public Policy. In addition, Mr. Scott has served in numerous health and public policy initiatives. Mr. Scott holds a B.A. and L.L.B. from the University of Western Ontario. In 2005, he was appointed a member of the Order of Canada in recognition of his volunteer service to the community.

Retirement REIT also advised that Manfred Walt resigned from the Board of Trustees in January 2006 for personal reasons and Bill Dillane resigned as Executive Vice President, Strategic Initiatives in March 2006. Mr. Dillane will continue to work with Retirement REIT on a part-time consultancy basis assisting with a variety of strategic initiatives.

The Honourable William G. Davis, Chair of Retirement REIT, stated "I am delighted that Ms. Lockhart and Mr. Scott have joined our Board. They bring diverse backgrounds and a wealth of experience which will benefit our Board. I would also like to acknowledge and thank Mr. Walt for the contributions he made during his tenure."

Retirement REIT is the largest provider of accommodation and care for seniors in Canada. Retirement REIT owns 215 retirement and long term care facilities, including 33 facilities in select United States markets, and provides management services to 10 homes for other parties, with an aggregate resident capacity in excess of 25,000. Retirement REIT also provides nursing placement and in-home health care through its Central Health Services unit. For further information, see the Retirement REIT website at www.retirementreit.com.

Contact Information

  • Retirement Residences Real Estate Investment Trust
    David Beirnes
    Chief Financial Officer
    (289) 360-1222
    (289) 360-1228 (FAX)
    or
    Retirement Residences Real Estate Investment Trust
    Tim Benson
    Director, Investor Relations
    (289) 360-1224
    (289) 360-1228 (FAX)