LOS ANGELES, Dec 4, 2008 – LifeHOUSE Retirement Properties, Inc. (LHRP.PK, the “Seller” or the “Corporation”) said today that it has completed the sale of substantially all of its assets to a newly formed entity, LifeHOUSE Holdings, LLC (“LifeHOUSE”, the “Buyer” or the “Company”), an affiliate of Westport Capital Partners LLC (“Westport”). The transaction was approved by the Seller’s Board of Directors on September 12, 2008, and by a vote of more than a super-majority of the Seller’s shareholders, as of October 5, 2008.

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