Emeritus Corporation is a national operators of assisted living and Alzheimer’s care residential communities in the United States. The Company’s communities provide a residential housing alternative for senior citizens who need help with the activities of daily living, but do not require the constant skilled nursing services provided in skilled nursing facilities. As of December 31, 2008, Emeritus operated, or had an interest in, 306 assisted living communities, consisting of approximately 27,000 units with a capacity for 32,000 residents. These facilities are located in 37 states and include 164 Company-owned communities, 104 leased communities, 38 managed communities and 24 joint venture interests. The Company has 199 communities that offers Alzheimer’s and dementia care services with approximately 4,383 units in a mix of both free-standing facilities and as part of its standard assisted living facilities.