ILM II LEASE CORPORATION
RECEIVES NOTICE OF
TERMINATION OF
FACILITIES LEASE AGREEMENT
FOR IMMEDIATE RELEASE:
June 14, 2000, Tysons Corner, Virginia: ILM II Lease Corporation announced
today that it received a notice from ILM II Holding, Inc. indicating that
pursuant to the terms of the existing Facilities Lease Agreement, the agreement
would terminate on the date of consummation of the pending merger by and between
ILM II Senior Living, Inc., an affiliate of Lease II, Capital Senior Living
Corporation (NYSE: CSU) and certain Capital affiliates. Subject to the
satisfaction of certain conditions and the receipt of requisite approvals,
consummation of the merger is expected to occur on or about July 30, 2000. If
the merger is consummated, Lease II's operations would not be expected to
continue beyond the termination of the lease agreement. As a result of the lease
agreement termination, it is currently expected that Lease II would have nominal
value after payment of expenses and other costs, and the Board accordingly would
review Lease II's status and continued existence.
If you have any questions regarding this press release, please call Lease
II, toll free at 1-888-257-3550.
* * *
THIS PRESS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS" BASED ON OUR
CURRENT EXPECTATIONS AND PROJECTIONS ABOUT FUTURE EVENTS. THESE FORWARD-LOOKING
STATEMENTS ARE SUBJECT TO A NUMBER OF RISKS AND UNCERTAINTIES WHICH COULD CAUSE
OUR ACTUAL RESULTS TO DIFFER MATERIALLY FROM HISTORICAL RESULTS OR THOSE
ANTICIPATED AND CERTAIN OF WHICH ARE BEYOND OUR CONTROL. THE WORDS "BELIEVE,"
"EXPECT," "ANTICIPATE" AND SIMILAR EXPRESSIONS IDENTIFY FORWARD-LOOKING
STATEMENTS. WE UNDERTAKE NO OBLIGATION TO PUBLICLY UPDATE OR REVISE ANY
FORWARD-LOOKING STATEMENTS, WHETHER AS A RESULT OF NEW INFORMATION, FUTURE
EVENTS OR OTHERWISE.
