American Retirement Announces Two Promotions.

Business Editors

NASHVILLE, Tenn.--(BUSINESS WIRE)--April 7, 2003

American Retirement Corporation (NYSE:ACR), a leading national provider of senior living housing and care, today announced the promotion of Lee Anne Fein to Vice President of Therapy Services and Kim Myers to Vice President and Corporate Controller.

As Vice President of Therapy Services, Lee Anne is responsible for therapy service operations nationwide. American Retirement (ARC) has 67 therapy clinics located in skilled nursing facilities, retirement communities and assisted living facilities. Immediately prior to joining ARC in 1999 as Regional Director of Therapy Services, Lee Anne was the Regional Director of Therapy Services with a national rehabilitation company and was responsible for the services provided to ARC in Florida. Lee Anne has also held a number of positions including Senior Therapist, Director of Occupational Therapy, Occupational Therapy Coordinator, Clinical Team Manager, Chief of Occupational Therapy and Regional Director. Lee Anne has a B.S. degree in Occupational Therapy from the University of Florida and holds a Masters of Health Services Administration from the University of Central Florida.

As Vice President and Corporate Controller, Kim is responsible for the accounting department at the home office, as well as having indirect responsibility for the business and accounting offices at each of our Retirement Centers. Prior to joining ARC in 2000 as Corporate Controller, Kim spent several years with a major managed care company, most recently in the role of Vice President of Finance. Prior to that, she spent seven years with the Nashville office of the international CPA firm of Deloitte & Touche, as Audit Senior Manager and various other roles. Kim has a B.S. and Masters Degree in Accounting from Mississippi State University, and is a certified public accountant.

COMPANY PROFILE

American Retirement Corporation is a national senior living and health care services provider offering a broad range of care and services to seniors. Established in 1978, the Company believes that it is a leader in the management of senior living communities, including independent living communities, continuing care retirement communities, free-standing assisted living communities, and specialized care programs for residents with Alzheimer's and other forms of dementia. The Company currently operates 65 senior living communities in 14 states, with an aggregate unit capacity of approximately 12,900 and resident capacity of approximately 14,400.