FOR IMMEDIATE RELEASE Contact: Judge Brad Stephensom

February 18, 2005 Phone: (254) 629-1263

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Assisted Living Center moves one step closer to reality in Eastland

EASTLAND, TEXAS -- Brad Stephenson, Eastland County Judge and Chairman for Eastland Assisted Living, Inc., announced today that Patricia Butler, Rural Development Representative (United States Department of Agriculture - USDA) presented the Board with USDA’s invitation to formally apply for a loan under their “Community Facilities” program. The purpose of the loan request will be to construct a $4,500,000 -- 40 unit first-class living facility in Eastland, eight units of which will be managed separately for persons with memory loss.

The site that has been designated for the Assisted Living Facility is located on approximately 12 of the 53 acres of the former “Camp Inspiration” property. The property represents some of the most scenic land in Eastland County. The property will be deeded over to Eastland Assisted Living within the month by the City of Eastland. The Eastland Economic Development Corporation, working with the advice and approval of the City of Eastland Commissioners acquired the 53 acre parcel in an effort to spur the creation of a senior housing facility, up-scale residential housing and new commercial/retail developments.

Jim Farrar, President of Eastland Economic Development Corporation states: “Our strategic plan pointed out the need for assisted care for our elderly as a result of Eastland’s aging population base. With input from the City Commission, we have responded in a favorable manner for Eastland. We are also excited about the response from developers to create new up-scale housing, commercial and retail projects. The Assisted Living Facility will definitely enhance Eastland’s role as a County Seat.”

Mayor Mark Pipkin stated, “This announcement is extremely good news for all Eastland residents, as it comes on the heels of the announcement of a new Wal-Mart SuperCenter. The economic impact generated by each of these facilities in sales and tourism dollars will be a significant step in stabilizing property taxes in the area. We (City of Eastland Commissioners) have been monitoring the progress and applaud the Board of Directors of Eastland Assisted Living Inc., for their fine work on this project.”

The next step will be to submit the formal loan application to USDA for their review and assessment, however it is important to note that being invited to formally apply carries with it an “earmarking” of funds for the project.

County Judge Brad Stephenson stated, “Eastland’s $4,500,000 Assisted Living Facility should be seen as an asset to all of Eastland County and the entire region. City of Eastland Commissioners and Mayor Mark Pipkin should be commended for their vision and interest in securing Eastland’s future”.

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