[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 MAXCOR
REIT CONFERENCE ON MAY 19
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LOUISVILLE, Ky (May 11, 2004) - Ventas, Inc. (NYSE: VTR) ("Ventas" or the
"Company) said today its Chairman, President and Chief Executive Officer, Debra
A. Cafaro, and its Chief Investment Officer, Raymond J. Lewis, will make a
presentation regarding the Company at the Maxcor REIT Conference on Wednesday,
May 19, 2004 at 10:30 a.m. Eastern Time (9:30 a.m. Central Time). Those wishing
to listen to the conference may dial in at 888.795.2173. The pass code is
MAXCOR. Any written materials accompanying the presentation will also be
available on Ventas's website at the time of the presentation.
Ventas is a healthcare real estate investment trust that owns healthcare
related facilities including hospitals, nursing facilities 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 ("REIT"), 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 (the "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 Company's ability to identify and consummate diversifying acquisitions or
investments, (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
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Ventas To Present At Maxcor Conference
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May 11, 2004
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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 years ending December 31, 2003 and
2004, (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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