Nasdaq: SNH PRICE: +0.08 19.12 YIELD: % +0.42% Volume: 728,781 December 12, 2017

Cautionary Language

The information appearing on SNH’s website includes statements which constitute forward looking statements. These forward looking statements are based upon SNH’s present intents, beliefs or expectations, but forward looking statements are not guaranteed to occur and may not occur. SNH’s actual results may differ materially from those contained in SNH’s forward looking statements. The information contained in SNH’s filings with the Securities and Exchange Commission, including under “Risk Factors" and “Warnings Concerning Forward Looking Statements” in SNH’s periodic reports and other filings, identifies important factors that could cause SNH’s actual results to differ materially from those stated in SNH’s forward looking statements. SNH’s filings with the SEC are available on the SEC’s website at www.sec.gov and are also accessible on SNH’s website at the following link: SEC Filings. You should not place undue reliance upon forward looking statements.

The documents provided in this archived section are provided for historical purposes only. The information contained in each document is accurate only as of the date each document was originally issued or such earlier date stated in those documents. Senior Housing Properties Trust does not undertake any obligation to update any information contained in these documents. For current information about the company, please refer to our most recent public SEC Filings.

OK
Cautionary Language

Please note that you are about to view content from a third party website. SNH does not by its inclusion imply its endorsement of or concurrence with the data provided on this website.

OK

Senior Housing Properties Trust Announces Court Order to Prevent Marriott's Closing a Transaction Affecting the Management of 31 Senior Living Communities

December 03, 2002

Newton, MA (December 3, 2002): Senior Housing Properties Trust (NYSE: SNH) today announced that an Order was issued yesterday afternoon by the Massachusetts Superior Court to prohibit Marriott from closing any transaction that would transfer, assign, substitute or otherwise allow any entity to assume Marriott?s rights and obligations as manager of 31 senior living communities which are owned by SNH and managed by Marriott Senior Living Services, Inc., a 100% owned subsidiary of Marriott International, Inc. (NYSE: MAR).

The Massachusetts Court Order was issued in response to a lawsuit commenced last Wednesday. In this lawsuit, SNH alleges that Marriott is about to transfer its rights and obligations to manage the SNH owned communities in violation of Marriott?s contractual duties to SNH. The 31 communities which contain approximately 7,500 living units are owned by SNH, leased to Five Star Quality Care, Inc. (AMEX: FVE) and managed by Marriott. The Court Order was issued by stipulation of the parties after a hearing on a temporary restraining order which was sought by SNH and FVE and is expected to remain in effect until a further hearing is held later this month.

About the same time that SNH commenced its litigation against Marriott, Marriott commenced a separate lawsuit against SNH and FVE in the Circuit Court for Montgomery County, Maryland. In that lawsuit, Marriott sought and obtained a temporary restraining order to prevent SNH from terminating Marriott?s management contracts. Prior to the Maryland Court Order, SNH had served notice to Marriott that SNH would terminate those contracts because of insurance charges and home office expenses which Marriott has improperly allocated to the managed properties, because of unfair profits realized by Marriott from purchases directed by Marriott to its affiliates for the account of the managed communities, and for other reasons. The Maryland Court Order is in effect until a further hearing may be held later in December.

WARNING REGARDING FORWARD LOOKING STATEMENTS

THE FOREGOING PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND THE FEDERAL SECURITIES LAWS. FOR EXAMPLE, THE FACTS THAT MASSACHUSETTS AND MARYLAND COURTS HAVE ISSUED ORDERS ON TEMPORARY BASES MAY IMPLY THAT PERMANENT ORDERS MAY BE ISSUED TO PREVENT ACTIONS BY MARRIOTT OR SNH. HOWEVER, AFTER FURTHER HEARINGS, ONE OR BOTH OF THESE COURTS MAY REVOKE THE PRIOR ORDERS OR ISSUE NEW AND DIFFERENT ORDERS. SIMILARLY, THE FACT THAT SNH HAS ASSERTED THAT MARRIOTT HAS IMPROPERLY ALLOCATED CHARGES TO THE COMMUNITIES OWNED BY SNH OR IMPROPERLY PROFITED FROM SALES BY MARRIOTT AFFILIATES TO THOSE COMMUNITIES IS BEING DISPUTED BY MARRIOTT. DISCOVERY DURING LAWSUITS OR DECISIONS BY COURTS MAY RESULT IN DIFFERENT AND CONTRARY CONCLUSIONS. THE PENDING LITIGATION MAY BE EXPENSIVE AND MIGHT HAVE UNEXPECTED OUTCOMES. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE UPON THESE FORWARD LOOKING STATEMENTS.

IR Contact

U.S Green Building CouncilEnergy Star Partner