[ 09.2006 ]

PHILADELPHIA (September 14, 2006) - Aegis Property Group, a real estate development and management firm in Philadelphia, announced today a joint venture in which it will oversee the project management of a new senior living facility for Morris Hall/St. Lawrence Rehabilitation Center, Inc. (MH/SLRC) - a continuing care retirement community in Lawrenceville, New Jersey. Aegis has partnered with Lifescapes, a senior living consulting and development firm with offices in Philadelphia and Atlanta, to manage the entire project development process from planning through implementation. Current estimates suggest that the total project, including financing costs, will reach nearly $90 million.

Serving as the project manager, Aegis provided all preliminary phase work over the past year for MH/SLRC, which included a feasibility study to address the market, technical and financial issues pertaining to the new facility. The MH/SLRC project, situated on a 31-acre parcel of land on Route 206 between Interstate 295 and Franklin Corner Road, is an extension of an already existing 40-acre senior living community at the same location. The master plan calls for the construction of 165 independent living apartment units, villas and cottages, along with supporting common areas and amenities. The plan is currently in its marketing phase, with construction slated to begin in 2008 and opening in 2010.

Aegis will lead the joint venture during the implementation phase under the guidance of James L. Price, the firm's partner in charge of the senior living sector. The firm will oversee design, engineering and land-use approvals, along with procurement and management of the construction. "Our recent partnership with Lifescapes has allowed us to enter into the continuing care retirement community market and work on some significant, community-enriching projects," said Price. "Both firms bring highly skilled and motivated professionals who have the right combination of experience to provide the highest level of service to this project."

Lifescapes, a development and consulting firm, which specializes in the senior living sector, will supervise the project management relating to the marketing and financial feasibility, coordination of regulatory approvals, oversight of financing and operations planning. Lifescapes' founder, Alan B. Wells said, "Our recent joint venture with Aegis Property Group has been a productive one that provides a thorough understanding of every aspect of planning and implementation." -more- MH/SLRC Project / Page 2 Morris Hall and St. Lawrence Rehabilitation Center are distinct and separate health care service providers organized under the MH/SLRC corporate structure. Each operates as a non-profit organization under the auspices of the Roman Catholic Diocese of Trenton.

Morris Hall encompasses residential, assisted living, respite care and skilled nursing while ensuring a total continuum of care in one secure location. For more information, call 609-896-0006. St. Lawrence Rehabilitation Center is committed to maximizing the quality of human life by providing comprehensive physical rehabilitation and related programs to meet the healthcare needs of its communities. For more information, call 609-896-9500.

Lifescapes, originating in 2004, leads project development efforts for the senior living sector by guiding institutions with strategic planning, financial analysis and structuring, capital financing and operations programming. Founder Alan Wells, former partner in KPMG, has more than 25 years of experience in finance, strategic planning and project development consulting within the healthcare industry. Lifescapes excels at assembling the necessary skilled professionals to complete any particular development project. For more information on Lifescapes or any of its services, please call 770-730-9706.

Founded in 1980, Aegis Property Group is a real estate company that provides an integrated mix of transaction and project management services. The firm's proven market expertise and solid technical capabilities address the complex real estate requirements of major corporations and institutions. Aegis has completed more than $2 billion of significant office, industrial, residential and institutional transactions and projects. For more information on Aegis Property Group or any of its services, please visit www.aegispg.com or call 215-568-5050.