Abdo H. Khoury Appointed CFO at ARV Assisted Living.

COSTA MESA, Calif.--(BUSINESS WIRE)--March 30, 1999--ARV Assisted Living Inc. (AMEX: SRS) Tuesday announced that Abdo H. Khoury has been promoted to senior vice president and chief financial officer.

Khoury, who was previously a vice president, had assumed responsibility for the treasury and asset strategy functions in January, after serving as president of ARV's Apartment Division since he joined the company in May 1997. A consultant to the company, Wellington A. Ewen, had been serving as CFO on an interim basis since January.

Khoury, 49, has more than 25 years of experience in real estate, finance and accounting. Prior to joining ARV, he served as a principal with Financial Performance Group in Newport Beach, Calif., from 1991 to 1997, providing business and management services to the real estate industry. From 1980 to 1991 he was executive vice president of Awdeh & Co., a national real estate development company based in Boston. Previously he was with Coopers & Lybrand in Paris and Boston.

Khoury graduated from College Sacre Coeur in Beirut and earned his master's degree in accounting from I.N.T.E.C. in Paris.

"Abdo's experience, leadership and the valuable contributions he has made to our financial operations in his brief stint as head of our treasury and asset strategy functions, make this promotion richly deserved," said Douglas M. Pasquale, president and chief executive officer. "At the same time, he continues to manage our apartment business and make progress on its sale."

ARV is divesting the Apartment Division in order to focus exclusively on its assisted living operations. Founded in 1980, ARV is one of the nation's largest providers of assisted living services for seniors, currently operating 60 communities with approximately 7,500 units in 10 states.