2009-10-22 23:48:04 -

Fitch Ratings currently maintains ratings on three continuing care retirement communities (CCRCs)- Charlestown Retirement Community (rated 'A' with a Stable Outlook by Fitch), Oakcrest Village (rated 'A-' with a Stable Outlook), both in Maryland, and Greenspring Village (rated 'BBB+' with a Stable Outlook) in Virginia - that are managed by Erickson Retirement Communities (ERC).

Fitch believes that the bankruptcy filing of

ERC will have no effect on the ratings of these facilities, as all are separate, independent 501(c)(3) organizations, unaffiliated with Erickson. The only financial ties that these organizations have with Erikson are fees they pay as part of cancellable management agreements that they have in place with ERC.

In discussions with the management of the Fitch-rated communities, Fitch confirmed that the contracts remain in effect and there has been no effect on operations.

The most significant risk of the bankruptcy, with respect to Fitch's ratings, could be an adverse effect on the marketing of residential units. Each of the facilities is aware of this and has plans in place to address this risk.

Fitch will continue to monitor the situation and, if appropriate, will update investors as more information becomes available.

Additional information is available at ' www.fitchratings.com : '.

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IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE ' WWW.FITCHRATINGS.COM : '.

PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.



Fitch RatingsJim Mitchell, 813-222-1395, TampaGary Sokolow,
212-908-9186, New YorkorMedia Relations:Cindy Stoller,
212-908-0526, New YorkEmail: cindy.stoller@fitchratings.com : mailto:cindy.stoller@fitchratings.com