NEWS RELEASE
FOR IMMEDIATE RELEASE                         Contact: Raymond Brandstrom
March 29, 2004                                Chief Financial Officer
                                              (206) 298-2909

             EMERITUS ANNOUNCES INTENT TO ACQUIRE MANAGED FACILITIES

SEATTLE,  WA,  MARCH  29, 2004 -- Emeritus Assisted Living (AMEX: ESC) (Emeritus
Corporation),  a  national  provider  of assisted living and related services to
senior  citizens,  announced  today  that  the  Company  intends  to  acquire 14
communities,  13  of  which  it  managed  in  2003. The communities are owned by
partnerships  that  Daniel  R. Baty, the Company's CEO, controls and in which he
has  financial  interests.  The  total cost of the acquisition is expected to be
approximately  $141.7 million financed through lease financing of $137.3 million
provided by a Newport Beach, California real estate investment trust company and
cash  and notes of $4.4 million. The lease will have an initial term of 15 years
with  three  five-year  extensions.  Based  on the past operating results of the
communities,  the  Company believes that the completed transaction would improve
its earnings by more than $1.6 million on an annual basis. The actual results in
the  future  could,  of  course,  vary from this estimate as a result of various
factors  described  below. In addition, generally accepted accounting principles
require  the  deferral  of  revenue  from  move-in  fees for amortization over a
15-month  period.  The  Company  expects that this non-cash accounting treatment
will  have  the  effect  of reducing reported earnings from these communities to
approximately  $600,000  by  approximately  $1.0 million for the first year, but
will  not  have  a  material  effect  for  subsequent years. The communities are
located  in  12  states  and  offer services ranging from independent retirement
living to secure memory loss units. The Company intends to close the transaction
within  the  next  90  days.

"Entering  into this lease presents a good opportunity for Emeritus," stated Ray
Brandstrom  CFO.  "Through  this  lease,  Emeritus  can  benefit from additional
economic  benefits  as  this  group  of  communities  continues  to  stabilize."

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. Emeritus places 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 174
communities  representing  capacity  for  approximately  18,200  residents in 33
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 our
continued  management  of  the  Emeritrust I communities beyond January 2, 2004,
when  our  management  agreements  for  those communities could be terminated on
short-term notice. While we believe that these arrangements will be extended, we
cannot  guarantee  that  these  discussions  will  be  successful  or,  if  the
arrangements  are  extended,  what the terms will be. If we are unsuccessful, we
could  lose the management fee revenue from these communities. 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.