ARV Assisted Living Names Abdo H. Khoury President and Chief Financial Officer.

Business Editors

COSTA MESA, Calif.--(BUSINESS WIRE)--Jan. 12, 2001

ARV Assisted Living Inc. (AMEX:SRS) Friday announced that Abdo H. Khoury has been named president, effective Jan. 1, 2001.

Khoury, 51, has served as senior vice president and chief financial officer since March 1999, when he was promoted from vice president, treasury and asset strategy. Prior to that, he served as president of ARV's Apartment Division since he joined the company in May 1997. Khoury will retain his duties as chief financial officer.

Prior to joining ARV, Khoury served as a principal with Financial Performance Group. He had also held the position of executive vice president of Awdeh & Co., a national real estate development company based in Boston. Previously, Khoury was associated with Coopers & Lybrand in Paris and Boston.

In making the announcement, ARV Chairman and Chief Executive Officer Douglas M. Pasquale said: "We are very pleased to have an executive with Abdo Khoury's experience and abilities to lead ARV's operations and finances. Abdo's history with ARV and his proven performance make him uniquely qualified to take on this position."

Founded in 1980, ARV is one of the nation's largest operators of assisted living communities, operating 57 communities containing 6,758 units in 11 states.