Retirement Residences Real Estate Investment Trust

Mr. Beirnes is the Chief Financial Officer of Retirement REIT. Mr. Beirnes joined Retirement REIT on April 30, 2002 on the closing of the acquisition of CPL REIT. Mr. Beirnes was the Chief Financial Officer of CPL REIT from January 2000 to April 30, 2002.

Mr. Hamilton became Senior Vice President of Development and Construction of Retirement REIT on November 10, 2004. Prior to that he was Vice President of Development and Construction a position he held since the IPO. Prior to that Mr. Hamilton was Vice President of Development and Construction of Central Park Lodges Ltd. since November 1999.

Effective January 23, 2007, Ms. Kingelin assumed leadership of Canadian Retirement Operations in addition to her continuing role as Senior Vice President, Canadian Long Term Care Opertions. Ms. Kingelin became Senior Vice President, Canadian Long Term Care Operations on November 10, 2004. Prior to that Ms. Kingelin was Vice President, Canadian Long Term Care Operations. Ms. Kingelin joined Retirement REIT on April 30, 2002, on the closing of the acquisition of CPL REIT. Ms. Kingelin was Director of Operations of CPL REIT from March 1998 to April 30, 2002.

Mr. Cerrone became Senior Vice President, General Counsel and Secretary of Retirement REIT on November 10, 2004. Prior to that he was Vice President, General Counsel and Secretary, of Retirement REIT. Mr. Cerrone joined Retirement REIT on April 30, 2002 on the closing of acquisition of CPL REIT. Mr. Cerrone was Vice-President, Legal Services of CPL REIT from October 1998 to April 30, 2002.

Homer Graham has served as Senior Vice President, Operations (Northeast, Midwest and Great Lakes Regions) of RSC since 2006. Mr. Graham joined Rental Service Corporation, a predecessor to RSC, in 1998, holding various field management positions, serving most recently as Regional Vice President for the Northeast Region. Prior to joining RSC, Mr. Graham served as a general manager for Approved Equipment Company, later acquiring the company and operating it for 18 years.

Mr. Miceli joined Retirement REIT on December 20, 2005 as Senior Vice President Property Management and Supply Chain. Previously he was with Ontario Realty Corporation as the Senior Vice President responsible for the property and project management of over 37 million square feet of owned assets, Oxford Properties Group as the City Head for their Toronto midtown and suburban portfolio consisting of over 10 million square feet of class "A" office properties and Cadillac Fairview as Vice-President and General Manager of the Toronto-Dominion Centre, a 4.5 million square foot mixed use class "A" office and retail complex. Mr. Miceli holds a Bachelor of Administrative Studies (Real Estate major) from York University and is a Fellow of the Real Estate Institute of Canada.

Ms. Annable became Senior Vice President, Finance on October 1, 2006. Ms. Annable previously held the position of Vice President, Finance from July 1, 2004, and joined Retirement REIT on April 30, 2002, on the closing of the acquisition of CPL REIT. From August 1, 2000 to April 30, 2002, Ms. Annable was Director of Corporate Accounting of CPL REIT. Ms. Annable received her CA designation in 1996 while working for KPMG LLP. She has served as a member of the Real Property Association of Canada's Financial Best Practice's Committee for the last six years and as an elected member of the Ontario Long Term Care Association's Financial Liaison Committee for the last two years.

Mr. Lindeman has been Senior Vice President U.S. Long Term Care since January 2003. Prior to that Mr. Lindeman was Regional Vice President of Operations, a position he held when he joined Retirement REIT on April 30, 2002 on the closing of the acquisition of CPL REIT. Mr. Lindeman was Regional Director of Operations of CPL REIT from November 1999 to April 30, 2002.

Ms. Croft joined Retirement REIT on March 21, 2005. Previously, from June 2002 to December 2004 she was Executive Vice President of Indigo Chapters Inc. Prior to that she was with the Bank of Montreal in various Human Resource positions.

Denis J. Nayden is a Managing Partner of Oak Hill Capital Partners and has been with the firm since 2003. Mr. Nayden co-heads the industry groups focused on investments in Basic Industries and Business and Financial Services. Prior to joining Oak Hill in 2003, he was Chairman and Chief Executive Officer of GE Capital, where he was responsible for 20 separate businesses representing $555 billion of aggregate assets and 90,000 employees in 35 countries. During his 27-year tenure at General Electric Co. Mr. Nayden also served as Chief Operating Officer (1994-2000); Executive Vice President (1989-1994); Senior Vice President and General Manager in the Structured Finance Group (1987-1989); Vice President and General Manager in the Corporate Finance Group (1987-1989); and Marketing Administrator for Air/Rail Financing as well as various other positions of increasing responsibility (1977-1987). Mr. Nayden earned a B.A. degree in English, magna cum laude, in 1976 and a M.B.A. in Finance in 1977 from the University of Connecticut, where he serves on the Board of Trustees.

Mr. Reichmann is currently the head of Reichmann International and former President, Co-Chief Executive Officer and a Trustee of Retirement Residences Real Estate Investment Trust, Canada's largest provider of senior care and accommodation and is listed on the TSX. Since 1994, Mr. Reichmann has been the President and a Director of Central Park Lodges Ltd., which transferred its nursing home assets to CPL Long Term Care Real Estate Investment Trust in 1997 and its retirement home assets to Retirement Residences Real Estate Investment Trust in 2001. Mr. Reichmann is also a Trustee of IPC US Income Commercial Real Estate Investment Trust and a Trustee of Firm Capital Mortgage Investment Trust, both listed on the TSX.

Mr. Watchorn has recently been appointed the President and Chief Executive Officer of Retirement Residences Real Estate Investment Trust. For the period from January 2003 to June 2004, he was the Executive Vice-President, Strategic Initiatives, of Canary Wharf Group plc in London, England. From September 2001 until January 2003, Mr. Watchorn resumed his position as a senior partner of the law firm of Davies Ward Phillips & Vineberg LLP. Mr. Watchorn became a partner in 1970 and was a partner of the firm until December 1998. In January 1999, he joined TrizecHahn Europe in London, England, as Executive Director responsible for implementation of project initiatives in Europe. For 12 years prior to joining TrizecHahn, Mr. Watchorn was a senior advisor to the Reichmann family in Toronto. During this time, he played a leading professional role on behalf of the Reichmann family in the Canary Wharf project in London and several of their projects in the United States and Mexico. Mr. Watchorn holds a Bachelor of Laws degree from the University of Toronto.

Donald Wagner has served as a director of RSC Holdings and RSC since shortly after the Recapitalization. Mr. Wagner is a Senior Managing Director of Ripplewood Holdings L.L.C., having been with the firm since 2000. Mr. Wagner is responsible for investments in several areas and heads the industry group focused on investments in basic industries. Previously, Mr. Wagner was a Managing Director of Lazard Freres & Co. LLC and had a 15 year career at that firm and its affiliates in New York and London. He was the firm s chief credit and capital markets expert in its merger advisory and corporate finance activities and specialized in corporate finance assignments involving leveraged companies. Mr. Wagner was also a member of all of the firm s Underwriting Committees and sat on the Investment Committees of Lazard Capital Partners and Lazard Technology Partners. Mr. Wagner currently serves as a director of Aircell, Saft Power Systems and Supresta LLC, each of which is a portfolio company of Ripplewood Holdings L.L.C.

Douglas M. Kaden is a Partner of Oak Hill Capital Partners and is responsible for investments in the Business and Financial Services industry group. Prior to joining Oak Hill in 1997, he worked at James D. Wolfensohn, Inc., a mergers and acquisitions advisory firm. Mr. Kaden earned an A.B. degree from Harvard University, an M. Phil from Cambridge University and a M.B.A. from the Stanford Graduate School of Business.

Scott Spielvogel has served as a director of RSC Holdings and RSC since shortly after the Recapitalization. Mr. Spielvogel is a Managing Director of Ripplewood Holdings L.L.C., having been with the firm since 2005. Prior to joining Ripplewood Holdings L.L.C., from 1998 to 2005 Mr. Spielvogel was a Principal at Windward Capital Partners, a private equity firm focused on leveraged buyouts of middle market companies in a wide variety of industries. From 1995 to 1998, Mr. Spielvogel was an associate at boutique investment banking firm The Argosy Group, LP and its successor CIBC Oppenheimer. Mr. Spielvogel currently serves as a director of Last Mile Connections and Saft Power Systems, each of which is a portfolio company of Ripplewood Holdings L.L.C.