Regent Assisted Living Hires Investment Banking Firm of Cohen & Steers Capital Advisors, LLC

PORTLAND, OR -- (July 31, 2001) -- Regent Assisted Living, Inc., an owner/operator of assisted living communities in the western United States, announced the appointment of Cohen & Steers Capital Advisors as the Company's exclusive financial advisor. Cohen & Steers will advise and assist the Company in obtaining equity capital, evaluating strategic alternatives and facilitating new corporate opportunities. "We've wanted a consultant to help us explore the various challenges and opportunities confronting Regent. We continue to be optimistic about the future of Regent and the assisted living industry, and are looking forward to working with Cohen & Steers," said Walter C. Bowen, pictured at right, chairman and chief executive officer.

Regent Assisted Living, Inc., based in Portland, Oregon, is an owner, operator and developer of private-pay assisted living communities in the western United States. Assisted living is part of a spectrum of long-term care services that provide a combination of housing, personal services and health care. Regent communities are designed to respond to elderly individuals who require assistance with activities of daily living in a manner that promotes independence and allows residents to age in place.


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