NEWS  RELEASE
FOR  IMMEDIATE  RELEASE     Contact:  Raymond  Brandstrom
October  6,  2003     Chief  Financial  Officer
                                    (206) 298-2909

              EMERITUS ANNOUNCES LEASE OF EMERITRUST II FACILITIES

SEATTLE,  WA,  OCTOBER 6, 2003 -- Emeritus Assisted Living (AMEX: ESC) (Emeritus
Corporation),  a  national  provider  of assisted living and related services to
senior  citizens, announced today that the Company has leased the 21 facilities,
comprised of 1,548 units, previously managed by the Company and described as the
Emeritrust  II  and  Emeritrust  II  Development facilities.  The lease is being
provided by a third party who will purchase the assets directly from the current
owners  and  combine  them with four additional properties already leased by the
Company  into  a new master lease with a 15-year term and one 15-year extension.
In addition to the lease, the lessor has agreed to consolidate all its mezzanine
debt with the Company, totaling $25.8 million and extending the maturity to July
2007.  The  new note will include amortization of principle after the first year
and  the  ability to convert the debt in part or whole to additional lease basis
depending  on  performance  of  the  master  lease  properties.

The  purchase  price  of  these  assets was $120.1 million, or $77,600 per unit,
including  the  value  of 500,000 5-year warrants the Company agreed to issue to
the  seller  with  an  exercise  price  of  $7.60.

"We  are  pleased  to  have  these  communities in our consolidated portfolio as
leased  properties to capture the upside of their improving performance," stated
Dan  Baty,  CEO.

The  Company  also  confirmed  that its management agreement on the Emeritrust I
portfolio  of  23 communities was extended from July 1, 2003 to January 2, 2004.

ABOUT  THE  COMPANY
Emeritus  Assisted  Living is a national provider of assisted living and related
services to seniors.  Emeritus is one of the largest developers and operators of
freestanding  assisted  living  communities throughout the United States.  These
communities  provide  a  residential housing alternative for senior citizens who
need  help  with  the  activities of daily living with an emphasis on assistance
with personal care services to provide residents with an opportunity for support
in  the  aging  process.  Emeritus  currently holds interests in 169 communities
representing  capacity  for  approximately  17,600  residents  in  32  states.
Emeritus's  common  stock  is  traded  on  the American Stock Exchange under the
symbol  ESC, and its home page can be found on the Internet at www.emeritus.com.

"Safe  Harbor"  Statement  under the Private Securities Litigation Reform Act of
1995:  A  number  of the matters and subject areas discussed in this report that
are  not  historical  or current facts deal with potential future circumstances,
operations,  and prospects.  The discussion of such matters and subject areas is
qualified  by  the  inherent  risks  and  uncertainties  surrounding  future
expectations  generally,  and  also may materially differ from our actual future
experience  as  a  result  of  such  factors  as: the effects of competition and
economic  conditions  on  the  occupancy  levels in our communities; our ability
under current market conditions to maintain and increase our resident charges in
accordance  with rate enhancement programs without adversely affecting occupancy
levels;  increases  in  interest  rates that would increase costs as a result of
variable  rate  debt;  our  ability  to  control  community  operation expenses,
including  insurance and utility costs, without adversely affecting the level of
occupancy  and  the level of resident charges; our ability to generate cash flow
sufficient to service our debt and other fixed payment requirements; our ability
to  find sources of financing and capital on satisfactory terms to meet our cash
requirements  to  the  extent  that  they  are not met by operations; and making
satisfactory  arrangements  for  the  continued  operation  of  the  Emeritrust
communities  as  our management agreements for those communities expire. We have
attempted  to  identify,  in  context,  certain of the factors that we currently
believe  may  cause  actual  future  experience  and  results to differ from our
current  expectations  regarding the relevant matter or subject area.  These and
other  risks  and  uncertainties  are  detailed  in  our  reports filed with the
Securities  and  Exchange Commission (SEC), including our Annual Reports on Form
10-K  and  Quarterly  Reports  on  Form  10-Q.