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<PAGE> 1
Filed Pursuant to Rule 424(b)(3)
SEC File No. 333-34365
Prospectus Supplement dated April 3, 1998
to Prospectus dated September 9, 1997
SUNRISE ASSISTED LIVING, INC.
5 1/2% CONVERTIBLE SUBORDINATED NOTES DUE 2002
This prospectus supplement amends and supplements the Selling
Noteholder table on pages 21-23 of the Prospectus dated September 9, 1997, as
previously amended and supplemented, to read in its entirety as set forth below:
<TABLE>
<CAPTION>
PRINCIPAL PRINCIPAL COMMON STOCK
AMOUNT OF AMOUNT OF NOTES OWNED PRIOR COMMON STOCK
NAME OF SELLING SECURITYHOLDER NOTES OWNED OFFERED HEREBY TO OFFERING (1) OFFERED HEREBY (2)
- ------------------------------ ----------- -------------- --------------- ------------------
<S> <C> <C> <C> <C>
AIM Balanced Fund . . . . . . . . . . . . . . $2,000,000 $2,000,000 53,781 53,781
Argent Classic Convertible
Arbitrage Fund, L.P. . . . . . . . . . . . . 1,000,000 1,000,000 26,890 26,890
Argent Classic Convertible
Arbitrage Fund (Bermuda) L.P. . . . . . . . . 1,900,000 1,900,000 51,092 51,092
Atlas Assets, Inc.
for the account of
Atlas Growth & Income Fund . . . . . . . . . 1,023,000 1,023,000 27,509 27,509
Banc America Robertson Stephens . . . . . . . 2,000,000 2,000,000 53,781 53,781
Bankers Trust International . . . . . . . . . 3,000,000 3,000,000 80,672 80,672
Bank of America
Convertible Securities Fund . . . . . . . . . 145,000 145,000 3,899 3,899
Bond Series Fund -
Oppenheimer Bond Fund for
Growth . . . . . . . . . . . . . . . . . . 4,000,000 4,000,000 107,563 107,563
BNP Arbitrage SNC . . . . . . . . . . . . . . 5,997,000 5,997,000 161,263 161,263
BT Alex. Brown Inc. . . . . . . . . . . . . . 12,600,000 12,600,000 338,823 338,823
Castle Convertible Fund, Inc. . . . . . . . . 500,000 500,000 13,445 13,445
Chrysler Corporation Master
Retirement Trust . . . . . . . . . . . . . . 2,600,000 2,600,000 69,915 69,915
Colonial Penn Insurance Co. . . . . . . . . . 750,000 750,000 20,168 20,168
Colonial Penn Life Insurance . . . . . . . . 625,000 625,000 16,806 16,806
Custodial Trust Company . . . . . . . . . . . 2,630,000 2,630,000 70,722 70,722
CFW-C, LP . . . . . . . . . . . . . . . . . . 3,900,000 3,900,000 104,873 104,873
Declaration of Trust for the
Defined Benefit Plan of ICI
American Holdings, Inc. . . . . . . . . . . . 555,000 555,000 14,924 14,924
Declaration of Trust for the
Defined Benefit Plan of
ZENECA Holdings, Inc. . . . . . . . . . . . . 375,000 375,000 10,084 10,084
Delaware Group Global Dividend and
Income Fund, Inc. . . . . . . . . . . . . . . 800,000 800,000 21,512 21,512
Delaware Group Dividend and
Income Fund, Inc. . . . . . . . . . . . . . . 1,800,000 1,800,000 48,403 48,403
Delaware Group Equities Fund V, Inc.
Retirement Income Fund Series . . . . . . . . 70,000 70,000 1,882 1,882
Delaware Group Premium Fund, Inc.
Convertible Securities Series . . . . . . . . 95,000 95,000 2,554 2,554
Delaware State Employees
Retirement Fund . . . . . . . . . . . . . . . 1,825,000 1,825,000 49,075 49,075
Delta Air Lines Master Trust . . . . . . . . 1,445,000 1,445,000 38,857 38,857
Donaldson, Lufkin & Jenrette
Securities Corporation . . . . . . . . . . . 14,376,000 14,376,000 386,581 386,581
Employee Benefit
Convertible Fund . . . . . . . . . . . . . . 80,000 80,000 2,151 2,151
Fidelity Devonshire Trust:
Fidelity Real Estate Investment Portfolio . . 5,000,000 5,000,000 134,453 134,453
Fidelity Financial Trust:
Fidelity Convertible Securities Fund . . . . 3,000,000 3,000,000 80,672 80,672
Fidelity Management Trust
Company on behalf of
accounts managed by it . . . . . . . . . . 500,000 500,000 13,445 13,445
Fiduciary Trust Company International . . . . 1,000,000 1,000,000 26,890 26,890
General Motors Employees
Domestic Group Trust . . . . . . . . . . . . 6,685,000 6,685,000 179,764 179,764
GlenEagles Fund . . . . . . . . . . . . . . . 925,000 925,000 24,873 24,873
Global Series Fund II -
Prudential Inconvertible Fund I . . . . . . . 2,000,000 2,000,000 53,781 53,781
</TABLE>
<PAGE> 2
<TABLE>
<CAPTION>
PRINCIPAL PRINCIPAL COMMON STOCK
AMOUNT OF AMOUNT OF NOTES OWNED PRIOR COMMON STOCK
NAME OF SELLING SECURITYHOLDER NOTES OWNED OFFERED HEREBY TO OFFERING (1) OFFERED HEREBY (2)
- ------------------------------ ----------- -------------- --------------- ------------------
<S> <C> <C> <C> <C>
Highbridge Capital Corporation . . . . . . . 250,000 250,000 6,722 6,722
Highbridge International LDC . . . . . . . . 3,000,000 3,000,000 80,672 80,672
Hillside Capital Incorporated
Corporate Account . . . . . . . . . . . . . . 165,000 165,000 4,436 4,436
HSBC James Capel Inc. . . . . . . . . . . . . 1,514,000 1,514,000 40,712 40,712
Hughes Aircraft Company
Master Retirement Trust . . . . . . . . . . . 730,000 730,000 19,630 19,630
Investors Bank & Trust Co. . . . . . . . . . 2,023,000 2,023,000 54,400 54,400
Lazard Freres & Co. LLC . . . . . . . . . . . 535,000 535,000 14,386 14,386
Lipper Convertibles, L.P. . . . . . . . . . . 3,600,000 3,600,000 96,806 96,806
Lipper Offshore Convertibles, L.P. . . . . . 2,000,000 2,000,000 53,781 53,781
LLT Limited . . . . . . . . . . . . . . . . . 1,000,000 1,000,000 26,890 26,890
Massachusetts Mutual Life Insurance
Company . . . . . . . . . . . . . . . . . . . 1,000,000 1,000,000 26,890 26,890
Mass Mutual Corporate Investors . . . . . . . 250,000 250,000 6,722 6,722
Mass Mutual Participation Investors . . . . . 125,000 125,000 3,361 3,361
Mass Mutual High Yield
Partners LLC . . . . . . . . . . . . . . . . 625,000 625,000 16,806 16,806
Mass Mutual Corporate Value
Partners Limited . . . . . . . . . . . . . . 500,000 500,000 13,445 13,445
Merrill Lynch Pierce Fenner &
Smith Inc. . . . . . . . . . . . . . . . . . 1,700,000 1,700,000 45,714 45,714
Natwest Markets . . . . . . . . . . . . . . . 445,000 445,000 11,966 11,966
Natwest Securities Limited . . . . . . . . . 5,000,000 5,000,000 134,453 134,453
OCM Convertible Trust . . . . . . . . . . . . 2,390,000 2,390,000 64,268 64,268
OCM Convertible Limited
Partnership . . . . . . . . . . . . . . . . . 230,000 230,000 6,184 6,184
Pacific Horizon Capital Income Fund . . . . . 2,430,000 2,430,000 65,344 65,344
Pacific Innovation Trust Capital Income
Fund . . . . . . . . . . . . . . . . . . . 225,000 225,000 6,050 6,050
Pacific Mutual Life Insurance
Company . . . . . . . . . . . . . . . . . . . 1,000,000 1,000,000 26,890 26,890
Palladin Partners . . . . . . . . . . . . . . 700,000 700,000 18,823 18,823
Paloma Securities L.L.C. . . . . . . . . . . 100,000 100,000 2,689 2,689
Partner Reinsurance Company Ltd. . . . . . . 235,000 235,000 6,319 6,319
Professional Asset Indemnity Ltd. . . . . . . 700,000 700,000 18,823 18,823
Provident Life and Accident Insurance
Company . . . . . . . . . . . . . . . . . . . 1,000,000 1,000,000 26,890 26,890
Q Investments, L.P. . . . . . . . . . . . . . 750,000 750,000 20,168 20,168
Salomon Brothers Inc. . . . . . . . . . . . . 250,000 250,000 6,722 6,722
Shepard Investments International, Ltd . . . 1,200,000 1,200,000 32,268 32,268
Societe Generale Securities Corporation . . . 1,500,000 1,500,000 40,336 40,336
Southport Management Partners L.P. . . . . . 1,000,000 1,000,000 26,890 26,890
Southport Partners International Ltd. . . . . 1,000,000 1,000,000 26,890 26,890
Spear, Leeds & Kellogg . . . . . . . . . . . 1,000,000 1,000,000 26,890 26,890
Stark International . . . . . . . . . . . . . 1,200,000 1,200,000 32,268 32,268
State Employees Retirement
Fund of the State of Delaware . . . . . . . . 785,000 785,000 21,109 21,109
State of Connecticut
Combined Investment Funds . . . . . . . . . . 2,300,000 2,300,000 61,848 61,848
</TABLE>
<PAGE> 3
<TABLE>
<CAPTION>
PRINCIPAL PRINCIPAL COMMON STOCK
AMOUNT OF AMOUNT OF NOTES OWNED PRIOR COMMON STOCK
NAME OF SELLING SECURITYHOLDER NOTES OWNED OFFERED HEREBY TO OFFERING (1) OFFERED HEREBY (2)
- ------------------------------ ----------- -------------- --------------- ------------------
<S> <C> <C> <C> <C>
State of Oregon Equity . . . . . . . . . . . 3,000,000 3,000,000 80,672 80,672
State of Oregon/SAIF Corporation . . . . . . 2,500,000 2,500,000 67,226 67,226
Starvest Discretionary . . . . . . . . . . . 300,000 300,000 8,067 8,067
Summer Hill Global Partners, L.P. . . . . . . 45,000 45,000 1,210 1,210
Sunrise Partners, C.V. . . . . . . . . . . . 1,200,000 1,200,000 32,268 32,268
The JW McConnell Family Foundation . . . . . 370,000 370,000 9,949 9,949
The Strategic Money
Management Company B.V. . . . . . . . . . . . 1,950,000 1,950,000 52,436 52,436
The TCW Group, Inc. . . . . . . . . . . . . . 3,285,000 3,285,000 88,336 88,336
Thermo Electron Balanced
Investment Fund . . . . . . . . . . . . . . . 480,000 480,000 12,907 12,907
Vanguard Convertible
Securities Fund, Inc. . . . . . . . . . . . . 1,285,000 1,285,000 34,554 34,554
Van Kampen American
Capital Harbor Fund . . . . . . . . . . . . . 2,500,000 2,500,000 67,226 67,226
Van Kampen Capital Convertible
Securities Fund . . . . . . . . . . . . . . . 500,000 500,000 13,445 13,445
----------- -------------- -------------- ------------
SUBTOTAL . . . . . . . . . . . . . . . . . . $147,073,000 $ 147,073,000 3,954,904 3,954,904
----------- -------------- -------------- ------------
Unnamed holders of Notes or any
future transferees, pledgees, donees
or successors of or from any such
unnamed holders (3) . . . . . . . . . . . . $ 2,927,000 $ 2,927,000 78,709 (4) 78,709
----------- -------------- -------------- ------------
TOTAL . . . . . . . . . . . . $150,000,000 $ 150,000,000 4,033,613 4,033,613
============ =============== ============== ============
</TABLE>
- ---------------
(1) Comprises the shares of Common Stock into which the Notes held by such
Selling Securityholder are convertible at the initial conversion rate,
excluding fractional shares. Fractional shares will not be issued
upon conversion of the Notes; rather, cash will be paid in lieu of
fractional shares, if any. The Conversion Rate and the number of
shares of Common Stock issuable upon conversion of the Notes are
subject to adjustment under certain circumstances. See "Description
of Notes--Conversion Rights." Accordingly, the number of shares of
Common Stock issuable upon conversion of the Notes may increase or
decrease from time to time.
(2) Assumes conversion into Common Stock of the full amount of Notes held
by the Selling Securityholder at the initial conversion rate and the
offering of such shares by such Selling Securityholder pursuant to
this Prospectus. The Conversion Rate and the number of shares of
Common Stock issuable upon conversion of the Notes is subject to
adjustment under certain circumstances. See "Description of
Notes--Conversion Rights." Accordingly, the number of shares of
Common Stock issuable upon conversion of the Notes may increase or
decrease from time to time. Fractional shares will not be issued upon
conversion of the Notes; rather, cash will be paid in lieu of
fractional shares, if any.
(3) No such holder may offer Notes pursuant to this Prospectus until such
holder is included as a Selling Securityholder in a supplement to this
Prospectus in accordance with the Registration Rights Agreement.
(4) Assumes that the unnamed holders of Notes or any future transferees,
pledgees, donees or successors of or from any such unnamed holder do
not beneficially own any Common Stock other than the Common Stock
issuable upon conversion of the Notes at the initial conversion rate.
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