EXHIBIT 11
AGEMARK CORPORATION
STATEMENT REGARDING COMPUTATION OF EARNINGS PER SHARE
<TABLE>
<CAPTION>
THREE MONTHS ENDED MARCH 31,
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1999 1998
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<S> <C> <C>
Weighted average common shares actually outstanding 1,000,000 1,000,000
Net shares assumed issued prior to the period attributable to stock options
issued prior to the period 187,987
Net shares attributable to options ceded during the period -405
Stock options issued November 10, 1999 at $1.00 per share 5,000
Assumed proceeds of exercise $ 5,000
Number of shares assumed purchased at 5.97/share(1) 838
Net shares assumed issued at December 1, 1999 4,162
Weighted average common shares assumed outstanding for period 1,188,969 1,000,000
</TABLE>
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(1) There is no market for the Company's shares. For computational purposes the
value assumed is the September 30, 1998 book value per share.
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