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THE STANDISH CARE COMPANY ANNOUNCES SIGNIFICANT GAINS FROM TRANSACTIONS

 BOSTON, Feb. 2 /PRNewswire/ -- The Standish Care Company (NASDAQ: STANC) today announced significant gains from the following:
 The company sold $1,100,000 of face value subordinated bonds it acquired in July 1992 in conjunction with the company's management of two senior living communities in Pennsylvania. The sale, which reflected the increased valuation in the two communities resulting from Standish's unique management strategies, produced a gain to the company of approximately $558,000 which will be reflected in the company's first quarter results for the period ending March 31, 1993. The company has $395,000 of third position subordinated bonds remaining in its portfolio.
 The company sold a parcel of land it owns in Destin, Fla., adjoining a senior living community in which the company currently holds a 34 percent ownership. The purchase of this land by a private investor group will produce a gain of approximately $376,000 to be reflected in the company's first quarter results for the period ending March 31, 1993. The land will be developed in an overall manner that is synergistic to the existing senior living community.
 The company also announced that it has sold 50,000 shares of the company's restricted stock, at a price of $5.00 per share, to a private investor. This investor also has committed to making an additional $500,000 cash investment in a private partnership that will develop Standish Care living communities in the states of Massachusetts, Connecticut, and New York.
 The company also sold an additional 50,000 shares of restricted stock, at a price of $5.00 per share, to a private investment group which has also been issued warrants to purchase an additional 50,000 shares at the underwriter's price of $7.09 per share.
 Commenting on this series of events, Standish President and CEO Michael J. Doyle stated: "These transactions clearly indicate that the word is spreading as to the size and scope of Standish's progress and potential. Increasingly, in this regard, the national media has been focusing on the overall growth of assisted living care, the specialized sector of the healthcare industry in which Standish Care has been a national leader, and in which we, as a publicly owned company, are the only pure play' for investors desiring to participate in the growth ahead.
 "With the new administration in Washington focused on reducing national healthcare costs while also providing quality services for seniors, we believe that the future for assisted living is one of virtually unlimited potential," Mr. Doyle emphasized.
 Standish Care is a leader in the healthcare industry's fast-growing assisted-living sector, a service-intensive form of housing for frail but functional seniors.
 Boston-based Standish Care develops, owns, and manages assisted living and related communities for seniors. Standish Care currently provides management and related services to senior living communities in Houston, Texas; Dearborn, Mich.; Destin, Fla.; Gainesville, Fla.; York and Chalfont, Pa.; and Providence, R.I.
 -0- 2/2/93
 /CONTACT: Michael J. Doyle, president and CEO of Standish, 617-266-5555; or Lory Roston, president of Lory Roston Associates, 212-877-8590, for Standish/
 (STANC)


CO: The Standish Care Company ST: Massachusetts IN: HEA SU:

GK-OS -- NY061 -- 1914 02/02/93 13:13 EST
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Date:Feb 2, 1993
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