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ORANGE COUNTY EARNINGS

$1.3-Million Accounting Charge Adds to ARV Assisted Living Quarterly Loss

May 18, 1999

ARV Assisted Living Inc., Costa Mesa operator of assisted living communities, said it lost $4 million, or 25 cents a share, for the first quarter, which included a charge of $1.3 million from an accounting change. A year earlier, ARV posted a net loss of $3 million, or 19 cents a share, for the 1998 first quarter, which included $1.5 million in expenses stemming from a proxy contest. Revenue increased 31% to $35.8 million from $27.3 million.

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