Anderson, chief operating officer
of CNL Retirement Properties. Encore currently operates or manages
more than 35 senior living communities in seven states.citibusinesscreditcards.

encyclopaedia identity

to be materially different from any future
results, performance, or achievements expressed or implied in such forward-
looking statements .S.

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acquired 16 seniors' housing facilities from Encore for
$136 million. specializes in
the acquisition of quality independent and assisted living communities,
continuing care retirement communities and medical office facilities. Chamber of Commerce
exclusively endorses the CitiBusiness(R) Card and the CitiBusiness(R)
Card with ThankYou Network(SM) - the first and only credit cards
endorsed by the Chamber.

forrest indiscernibles

This privately held,
for-profit company is headquartered in Portland, Oregon. Members of the Chamber receive special
incentives including a reduced purchase annual percentage rate (APR )
and an introductory rate on balance transfers."
CitiBusiness Credit Cards provide customers with a number of tools
and resources that help small businesses save time and money. Additional information may be found at
http://www. Additional
information may be found at http://www.

paradox sentences

Encore Senior Living CNL Retirement Properties Inc. Announce Sixteen Property Sale/Leaseback Transaction

We will immediately begin
expanding five of our Alzheimer specialty care properties, which will be
completed before the end of the year. Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements
of CNL Retirement Properties, Inc. Chamber of Commerce - the
world's largest business federation. Major brand names under Citigroup's trademark red umbrella
include Citibank, CitiFinancial, Primerica, Smith Barney , Banamex, and
Travelers Life and Annuity.

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Safe Harbor Statement Under The Private Securities Litigation Reform Act
of 1995
Certain statements and information included in this release constitute
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995.

S. All other small
businesses may call 1-877-CITI-NOW or visit
http: //www.

forrest yves

can give no assurance that expectations will be
attained or that actual results will not differ materially.

Citi Announces Exclusive Relationship with CitiBusiness Credit Cards and The U.S. Chamber of Commerce

The U.

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PORTLAND, Ore.com.

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Three additional locations will expand
in early 2006 . CNL and the entities it has formed or acquired have more than
$15 billion in assets, manage an additional $2.5 billion for third-party
investors and have interests in more than 5,100 properties across North
America. CNL Retirement Properties, Inc.citigroup.

sentences encyclopaedia

Headquartered in Orlando, Fla .

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and ORLANDO, Fla.

About CNL Retirement Properties, Inc.

Business Editors/Financial Editors

NEW YORK----Citi (NYSE:C), the
world's largest provider of credit cards, announces a unique
collaboration between its small business credit card group,
CitiBusiness(R) Credit Cards and the U.com.com

About Citi

Citigroup (NYSE:C), the leading global financial services
company, has some 200 million customer accounts and does business in
more than 100 countries, providing consumers, corporations,
governments and institutions with a broad range of financial products
and services, including consumer banking and credit, corporate and
investment banking, insurance , securities brokerage, and asset
management.

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Other time and money saving
tools include:

Business -size credit lines

Account spending summaries

Enhanced concierge services through Personal Business
Assistants

Savings on everyday business expenses

Auto rental and travel accident insurance

Free and secure online account management

"Through the new relationship , CitiBusiness Credit Cards provide
needed flexibility and discounts to help Chamber members better manage
their businesses," said Thomas Donohue, president and CEO of the U.

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We believe we have a superior product that addresses the care
of this population and we're anxious to increase our capacity to be able to
serve more of the market. Hutchison III, chief executive officer of CNL Retirement
Properties, said, "This transaction reinforces our commitment to long-term
relationships with sellers and operators.
Chamber of Commerce. For additional information on
the U.S.S.

allan argues

S.uschamber .com

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, Encore Senior
Living, LLC ("Encore") and CNL Retirement Properties, Inc. "Because of this sale, we now have the ability to refocus
our attention on the growth of Encore's portfolio .
CNL Retirement Properties, Inc.S.uschamber.

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disclaims any obligation
or undertaking to publicly release any updates or revisions to any forward-
looking statement contained herein to reflect any change in its expectations
with regard thereto or any change in events, conditions or circumstances on
which any such statement is based.S.

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com . These
include offering busy small business owners the opportunity to bypass
a Voice Response Unit (VRU) and speak directly with a small business
specialist who understands their needs.citibusinesscreditcards.

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In its first entry into the Oregon market, CNL Retirement
Properties, Inc. "We are delighted to be
backed by such a credible organization that protects the interests of
its more than three-million member companies.

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"
"Peter Muhlbach and his team have done a great job producing results at
all of their communities," added Phillip M. owns a portfolio of 244 properties in 33
states in the seniors' housing and medical office building sectors . For more information, visit http://www.

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cnl. These forward-looking statements are based on
current expectations, estimates and projections about future events. Chamber of Commerce, visit http://www.

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today announced
that on March 31, 2005, the two entities entered into a sale/leaseback
transaction.

The acquisition features approximately 1,395 units located in
five states. They also receive all
the same benefits available to CitiBusiness cardmembers such as easy
access to round-the-clock small business specialists.

stanford randall

About Encore Senior Living, LLC
Encore Senior Living operates a full spectrum of senior living communities
including independent, assisted and communities specializing in caring for
individuals with Alzheimer's disease. is related to CNL Financial Group, Inc.
The U. Chamber of Commerce protects the legal interests of small
businesses before Congress and many other entities.com

About U.

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We are excited about our new
relationship with Encore Senior Living and look forward to working with them
in the future.
CNL Retirement Properties, Inc .
believes its current expectations are based upon reasonable assumptions, CNL
Retirement Properties , Inc. Chamber of Commerce

The U.

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"We are very pleased to have the opportunity to form a relationship with
CNL Retirement Properties," said Peter Muhlbach, president and chief executive
officer of Encore., CNL Retirement Properties, Inc.uschamber.

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"
Thomas J.
("CNL"). Although CNL Retirement Properties, Inc.
"CitiBusiness Credit Cards are designed to respond to the unique
and diverse needs of everyday small business owners," said David
Simon, senior vice president , Citi Cards. Additionally,
CitiBusiness Credit Cards provide added protections for small
businesses with a range of free benefits, including:

-- Citi Identity Theft Solutions for small business

-- Fraud Early Warning

-- Travel Accident Insurance

To apply for the CitiBusiness Card, Chamber members may call
1-866-317-6942 or visit
http://www. Chamber of Commerce is the world's largest business
federation, representing more than three million businesses and
organizations of every size, sector and region. The Chamber's mission
is to fight for the interests of business and free enterprise before
Congress, the White House, regulatory agencies, courts, the court of
public opinion, and governments around the world.

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---

- - kjjkjk

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