[VENTAS LOGO]
Ventas, Inc. 10350 Ormsby Park Place Suite 300 Louisville, Kentucky 40223
(502) 357.9000 (502) 357.9029 Fax
Contacts: Debra A. Cafaro
Chairman, President and CEO
or
Richard A. Schweinhart
Senior Vice President and CFO
(502) 357-9000
VENTAS TO PRESENT AT UBS GLOBAL HEALTHCARE
SERVICES CONFERENCE FEBRUARY 2
LOUISVILLE, Ky (January 20, 2004) --Ventas, Inc. (NYSE:VTR) ("Ventas" or the
"Company") announced that Chairman, President and Chief Executive Officer Debra
A. Cafaro and Senior Vice President and Chief Financial Officer Richard A.
Schweinhart will make a presentation regarding the Company at the UBS Global
Healthcare Services Conference in New York on Monday, February 2, 2004 at 1:30
p.m. Eastern Time.
The presentation is being audio webcast and can be accessed at the Ventas
website at www.ventasreit.com or at www.ib.ubs.com. Any written materials
accompanying the presentation will also be available on Ventas's website at the
time of the presentation. The webcast and any written materials accompanying the
presentation will be archived at www.ventasreit.com for 30 days after the event.
Ventas, Inc. is a healthcare real estate investment trust that owns 42
hospitals, 194 nursing facilities and nine other healthcare and senior housing
facilities in 37 states. The Company also has investments in 25 additional
healthcare and senior housing facilities. More information about Ventas can be
found on its website at www.ventasreit.com.
This Press Release includes forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements regarding Ventas,
Inc.'s ("Ventas" or the "Company") and its subsidiaries' expected future
financial position, results of operations, cash flows, funds from operations,
dividends and dividend plans, financing plans, business strategy, budgets,
projected costs, capital expenditures, competitive positions, growth
opportunities, expected lease income, continued qualification as a real estate
investment trust, plans and objectives of management for future operations and
statements that include words such as "anticipate," "if," "believe," "plan,"
"estimate," "expect," "intend," "may," "could," "should," "will" and other
similar expressions are forward-looking statements. Such forward-looking
statements are inherently uncertain, and security holders must recognize that
actual results may differ from the Company's expectations. The Company does not
undertake a duty to update such forward-looking statements.
Actual future results and trends for the Company may differ materially
depending on a variety of factors discussed in the Company's filings with the
Securities and Exchange Commission. Factors that may affect the plans or results
of the Company include, without limitation, (a) the ability and willingness of
Kindred Healthcare, Inc. ("Kindred") and certain of its affiliates to continue
to meet and/or perform their obligations under their contractual arrangements
with the Company and the Company's subsidiaries, including without limitation
the lease agreements and various agreements entered into by the Company and
Kindred at the time of the Company's spin off of Kindred on May 1, 1998 (the
"1998 Spin Off"), as such agreements may have been amended and restated in
connection with Kindred's emergence from bankruptcy on April 20, 2001, (b) the
ability and willingness of Kindred to continue to meet and/or perform its
obligation to indemnify and defend the Company for all litigation and other
claims relating to the healthcare operations and other assets and liabilities
transferred to Kindred in the 1998 Spin Off, (c) the ability of Kindred and the
Company's other operators to maintain the financial strength and liquidity
necessary to satisfy their respective obligations and duties under the leases
and other agreements with the Company, and their existing credit agreements, (d)
the Company's success in implementing its business strategy and the
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Ventas to Present at UBS Global Healthcare
Services Conference February 2
Page 2
January 20, 2004
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Company's ability to identify and consummate diversifying acquisitions or
investments, including without limitation, its proposed acquisition of
ElderTrust, (e) the nature and extent of future competition, (f) the extent of
future healthcare reform and regulation, including cost containment measures and
changes in reimbursement policies, procedures and rates, (g) increases in the
cost of borrowing for the Company, (h) the ability of the Company's operators to
deliver high quality care and to attract patients, (i) the results of litigation
affecting the Company, (j) changes in general economic conditions and/or
economic conditions in the markets in which the Company may, from time to time,
compete, (k) the ability of the Company to pay down, refinance, restructure,
and/or extend its indebtedness as it becomes due, (l) the movement of interest
rates and the resulting impact on the value of and the accounting for the
Company's interest rate swap agreement, (m) the ability and willingness of the
Company to maintain its qualification as a REIT due to economic, market, legal,
tax or other considerations, (n) final determination of the Company's taxable
net income for the year ending December 31, 2003, (o) the ability and
willingness of the Company's tenants to renew their leases with the Company upon
expiration of the leases and the Company's ability to relet its properties on
the same or better terms in the event such leases expire and are not renewed by
the existing tenants, and (p) the impact on the liquidity, financial condition
and results of operations of Kindred and the Company's other operators resulting
from increased operating costs and uninsured liabilities for professional
liability claims, and the ability of Kindred and the Company's other operators
to accurately estimate the magnitude of such liabilities. Many of such factors
are beyond the control of the Company and its management.
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