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					PAUL HASTINGS ADVISES NEWLY FORMED CENTENNIAL
HEALTHCARE PROPERTIES, LLC AS PART OF THE $133
MILLION ACQUISITION OF ASSETS FROM CENTENNIAL
HEALTHCARE CORPORATION


Atlanta (August 12, 2004) - Paul, Hastings, Janofsky & Walker (Paul Hastings), a
leading international law firm, is pleased to announce today that the firm advised
Centennial HealthCare Properties, LLC (Centennial Properties) in connection with its
and certain affiliates' roles in a $133 million acquisition of skilled nursing facilities
from Centennial HealthCare Corporation, the transaction which permitted Centennial
HealthCare Corporation (Centennial HealthCare) and its debtor affiliates to emerge
from Chapter 11 bankruptcy proceedings which began in December 2002. The
transaction was effective August 1, 2004. Centennial Properties, founded by former
Centennial HealthCare senior executives, J. Stephen Eaton and Alan C. Dahl,
together with several affiliates, have ownership interests in health care providers that
currently lease, manage and operate over 110 skilled nursing facilities. This
acquisition added leasehold and management interests in more than 55 additional
facilities. Alan Dahl indicated "Mark Lange and the team at Paul Hastings played a
critical role and were instrumental in the successful completion of a transaction that
included a restructuring involving over 150 entities and operations in 16 states."

"We were pleased to be a part of the Centennial Properties team for this key
transaction," said Mark Lange, the engagement partner for this transaction and a tax
and M&A partner in the Paul Hastings Corporate Department in Atlanta. "As the
long-term care sector grows over the next decade, the Paul Hastings corporate and
health care teams are poised to assist companies like Five Star in making smart,
strategic acquisitions."

The Paul Hastings team, which spanned several practice areas and offices, included:
Mark Lange, Emily Crosby, a tax associate in the Atlanta office, Tom Burch, a real
estate partner in the Atlanta office, Wayne Bradley, an M&A partner in the Atlanta
office, Erik Belenky and Browning Afield, M&A associates in the Atlanta office, Pat
Showalter, Senior Paralegal II in the Atlanta office, Joel Rothstein, a real estate
Paul, Hastings, Janofsky & Walker LLP
55 Second Street, Twenty-Fourth Floor, San Francisco, CA 94105-3441
Tel: (415) 856-6000 | Fax: (415) 856-7100


 Atlanta                 London                   Paris               Stamford
 Beijing                 Los Angeles              San Diego           Tokyo
 Brussels                New York                 San Francisco       Washington, DC
 Hong Kong               Orange County            Shanghai
partner from the Tokyo office, James Budd, a real estate associate in the Atlanta
office, Philip Marzetti, a tax partner in the Atlanta office, Harvey Strickon, a
bankruptcy of counsel lawyer in the New York office and Mark Poerio, an ERISA
partner in the Washington office.

Centennial HealthCare Corporation had continued to provide long-term health care
services to meet the medical needs of elderly and post-acute patients after
commencing Chapter 11 bankruptcy proceedings in December 2002. Basic services
included skilled nursing and support, housekeeping, laundry, dietary, recreational
and social services. Specialty services included comprehensive rehabilitation
therapy, respiratory therapy, ventilator care, infusion therapy, wound care, home
health care and other sub-acute and specialty services.

Paul Hastings Mergers and Acquisitions Practice: Recently named "M&A Law Firm
of the Year" by Mergers & Acquisitions Advisor, Paul Hastings advises companies
involved in the entire spectrum of merger, acquisition, disposition and joint venture
activities involving public and private companies. The firm’s corporate and tax
attorneys represent acquirers and targets in strategically as well as financially-
motivated transactions involving purchase and sale of both domestic and foreign
companies. Transactions handled include friendly and unsolicited acquisitions,
tender offers, proxy contests, mergers, exchanges of securities, strategic and other
minority investments, recapitalizations, "going private" transactions, leveraged
buyout and joint ventures.

Paul, Hastings, Janofsky & Walker LLP, founded in 1951, is an international law firm,
representing Fortune 500 companies with more than 950 attorneys located in 15
offices: Atlanta, Beijing, Brussels, Hong Kong, London, Los Angeles, New York,
Orange County, Paris, San Diego, San Francisco, Shanghai, Stamford, Tokyo and
Washington, DC.




Paul, Hastings, Janofsky & Walker LLP
55 Second Street, Twenty-Fourth Floor, San Francisco, CA 94105-3441
Tel: (415) 856-6000 | Fax: (415) 856-7100


 Atlanta                 London                   Paris               Stamford
 Beijing                 Los Angeles              San Diego           Tokyo
 Brussels                New York                 San Francisco       Washington, DC
 Hong Kong               Orange County            Shanghai

				
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