Sunrise Senior Living adds $50 million to buyback program

New York, March 11 - Sunrise Senior Living Inc. said its board of directors has approved an additional $50 million repurchase program covering its common stock and its 5¼% convertibles subordinated notes due 2009.

The program is effective immediately and runs for 12 months.

Buybacks can be in the open market or privately negotiated transactions, the McLean, Va., provider of senior living services said.

Sunrise also said it completed its previous $150 million repurchase program, begun in July 2002 and expanded in May 2003.

The company bought back $145 million of its common stock made up of 5.2 million shares at a weighted average price of $27.91 and $5 million of its 5¼% convertibles.

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