NEWS RELEASE FOR IMMEDIATE RELEASE
June 6, 2001

CONTACTS:
Jack Hawxhurst
PANA, President
(805) 683-9068

Michael Grust, President
Senior Resource Group
(858) 552-6776

John Davies
Davies
(805) 963-5929

AGREEMENT REACHED BETWEEN MARAVILLA DEVELOPER AND THE PATTERSON AREA NEIGHBORHOOD ASSOCIATION

Goleta/San Diego, CA -- Senior Resource Group and the Patterson Area Neighborhood Association (PANA) announced today that they have reached a settlement concerning refinements to a development plan for the Maravilla Senior Living Community. Senior Resource Group and PANA mutually agree the settlement benefits everyone involved, especially local seniors and neighbors of the project.

Senior Resource Group received approval for Maravilla in 1998, and over the past 3 years has proposed refinements, including a reduction in the number of rooms, an increase in the size of the rooms, adding elevators to the two-story apartments and adding additional space to the basement for storage Some of these refinements were jointly agreed to by SRG and PANA, including an expanded setbacks from the adjacent creek wildlife, improvements to the fence deterring employees from parking in adjacent neighborhoods, and landscaping on both sides of Calle Real.

On May 16, 2001, County Planning Director John Patton approved additional refinements and the Patterson Area Neighborhood Association appealed the approval of the Director's Amendment.

Senior Resource Group agreed to a Settlement Agreement that adds strength to their original intent to design a plan that benefits both surrounding neighbors and the future residents of the development.

The terms of the settlement include an enforceable cap on the total number of residents and employees on site at any time of day and multiple means of preventing parking overflow into the neighborhoods. During construction grading, trucks will be restricted from neighborhood streets and no seniors will be in residence until all grading is completed. Finally, Maravilla will provide preferences and discounts to LOCAL seniors, so this project will primarily benefit OUR community.

As stated by Michael Grust, President of Senior Resource Group, "We are extremely pleased with this outcome which was a direct result of PANA's tenacity and dedication to provide the community with the best possible plan. I applaud PANA in their efforts and feel a great sense of gratitude as they have only strengthened our ongoing desire to help meet the growing demand for senior housing with a plan that benefits everyone."

Jack Hawxhurst, President of PANA, says "SRG is now providing a Maravilla Senior Living Community that is a highly needed benefit for our LOCAL community. It will serve seniors who are long-term residents of our community. When local seniors move to Maravilla, their homes will house younger families in our tight housing market. Yet close neighbors of Maravilla will not suffer impacts of an unrestricted on-site population. PANA believes SRG and Maravilla will be great neighbors and supports an early completion to begin serving the needs of deserving area seniors."

Representatives for both PANA and Senior Resource Group will be available for comment at Cearnal Architects (or the Santa Barbara County Courthouse) between (time) on (date).