Extendicare Real Estate Investment Trust 6-K from 6-K

Exhibit 99.1

NEWS RELEASE

FOR IMMEDIATE RELEASE

February 17, 2006

Extendicare Inc. Declares Preferred Share Dividend Payment - TSX: EXE.PR.E

MARKHAM, ONTARIO - Extendicare Inc. (TSX: EXE.MV and EXE.SV; NYSE: EXE) announced today that a monthly dividend of $0.088 per share on the Company’s Class II Preferred Shares, Series 1 (EXE.PR.E) has been declared payable on March 15, 2006 to shareholders of record on February 28, 2006. The floating rate monthly dividend on the Class II Preferred Shares, Series 1 is based on the prime interest rate on January 31, 2006.

For further information, contact:

Extendicare Inc.

Christopher Barnes

Manager, Investor Relations

Telephone: (905) 470-5483

Fax: (905) 470-4003

Visit Extendicare’s website @ www.extendicare.com

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