Retirement Residences Real Estate Investment Trust
TSX : RRR.UN
TSX : RRR.DB.B
TSX : RRR.DB.C

Retirement Residences Real Estate Investment Trust

July 20, 2005 18:35 ET

Retirement Residences Real Estate Investment Trust Appoints New Executives

TORONTO, ONTARIO--(CCNMatthews - July 20, 2005) - Retirement Residences Real Estate Investment Trust ("Retirement REIT") (TSX:RRR.UN)(TSX:RRR.DB.B)(TSX:RRR.DB.C) today announced the appointment of Alan Torrie as Chief Operating Officer and Mike Hubbert as Senior Vice President, Canadian Retirement Operations.

Derek Watchorn, President and Chief Executive Officer of Retirement REIT, commented: "Our new executives bring a broad range of strategy and leadership expertise that are important to Retirement REIT's growth initiatives and ensuring that our 25,000 residents continue to receive the best possible care. Alan and Mike have proven themselves as dedicated and successful executives and we are very excited about Retirement REIT's future with their addition to our senior management team."

Mr. Torrie was appointed Chief Operating Officer. In this position, all executives in Retirement REIT's retirement and long term care operations in Canada and the United States will report directly to him. Mr. Torrie served most recently as Executive Vice President for MDS Inc., a global health and life sciences company, where he spent 15 years in a variety of senior management positions. He has also been the President and Chief Executive Officer of Joseph Brant Hospital.

Mr. Hubbert has been providing interim leadership to Retirement REIT's Canadian Retirement Operations for the past six months. His appointment as Senior Vice President, Canadian Retirement Operations allows for continuation of the initiatives that have begun under his leadership. Previously Mr. Hubbert was Executive Vice President and Chief Operating Officer of Nexinnovations Ltd., President and Chief Operating Officer of Mortice Kern Systems Inc. and President and Chief Executive Officer of Systemhouse Europe Ltd..

Retirement REIT is the largest provider of accommodation and care for seniors in Canada. Retirement REIT owns 214 retirement and long term care facilities, including 32 facilities in select United States markets, and provides management services to 11 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 and Central Med units. 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
    (416) 929-5430
    (416) 323-3818 (FAX)
    or
    Retirement Residences Real Estate Investment Trust
    Tim Benson
    Director, Investor Relations
    (416) 928-6473
    (416) 323-3818 (FAX)
    www.retirementreit.com