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Ryman Healthcare Develops Upper North Island Sites

RYMAN HEALTHCARE LIMITED

INFORMATION RELEASE

17 September 2001

Leading retirement village operator Ryman Healthcare Limited is progressing with the development of new villages in Auckland and Hamilton.

Resource consent approval was received for the Hilda Ross Retirement Village in Hamilton, and construction commenced in June. The village is scheduled for opening by March 2002. The village includes a resthome, serviced apartments, independent apartments and a community centre.

The plan change application to develop the site at St Heliers was approved by the Auckland City Council in August and construction of a comprehensive retirement village has now commenced. The company will offer a hospital, a resthome, serviced apartments, independent apartments and community facilities. The village is scheduled for opening by June 2002.

The company’s resource consent application to develop a retirement village at Abbotts Way, Remuera was recently referred to mediation between the company and Auckland City Council. The directors are confident that an agreement will be reached in mediation and development of the site will commence in 2002 as planned.

Ends

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