NEWS  RELEASE
FOR  IMMEDIATE  RELEASE                            Contact:  Raymond  Brandstrom
May  8,  2003                                          Chief  Financial  Officer
                                                                  (206) 298-2909

        EMERITUS REPORTS $1 MILLION IMPROVEMENT FOR FIRST QUARTER RESULTS

SEATTLE,  WA,  MAY  8,  2003  --  Emeritus Assisted Living (AMEX: ESC) (Emeritus
Corporation),  a  national  provider  of assisted living and related services to
senior  citizens,  today  announced  first  quarter  2003  net  loss  to  common
shareholders  of  $2.3  million  compared  to a net loss of $3.3 million for the
first  quarter  2002.  Net loss before preferred dividends for the first quarter
was  $393,000  with  positive  income  statement  cash flows (net loss excluding
preferred  dividends  of  $1.9 million and depreciation and amortization of $1.8
million)  of  $1.5  million.

 "All  of  the  great  efforts  of our operations group, in combination with the
strategic  acquisitions we completed last year, are leading us to these improved
results,"  stated  Dan  Baty,  CEO.  "While we still have some work left, we are
cash  flow positive, and our operational results are tracking toward our goals."

Total  revenue  for the quarter increased $11.0 million to $47.2 million for the
first  quarter.  The  majority  of this increase came from the acquisition of 24
communities  on  October 1, 2002.  Operating expenses increased to $44.5 million
for  the  first quarter 2003, an increase of $10.4 million from the same quarter
last  year,  also  primarily from the 24-community acquisition.  Overall, Income
from  operations,  defined  as  Total  Operating  Revenues  less Total Operating
Expenses  (exclusive  of  Interest  Income,  Interest  Expense,  and Other, Net)
increased  $600,000.

SAME  COMMUNITY  RESULTS
Emeritus  operated  59 Same Store Communities for the first quarter of both 2003
and  2002.  Community  Operating  Income  improved  $650,000 to $13 million from
$12.4  million for the same quarter last year.  Facility Lease expense increased
$467,000  primarily due to the refinance of 11 properties in December 2002.  Net
income  for  the first quarter was $2.1 million, an increase of $50,000 from the
same  quarter  last  year.

ABOUT  THE  COMPANY
Emeritus  Assisted  Living is a national provider of assisted living and related
services to seniors.  Emeritus is one of the largest developers and operators of
freestanding  assisted  living  communities throughout the United States.  These
communities  provide  a  residential housing alternative for senior citizens who
need  help  with  the  activities of daily living with an emphasis on assistance
with personal care services to provide residents with an opportunity for support
in  the  aging  process.  Emeritus  currently  owns,  leases,  or  manages  185
communities  representing  capacity  for  approximately  19,000  residents in 33
states.  Emeritus's  common stock is traded on the American Stock Exchange under
the  symbol  ESC,  and  its  home  page  can  be  found  on  the  Internet  at
www.emeritus.com.

"Safe  Harbor"  Statement  under the Private Securities Litigation Reform Act of
1995:  A  number  of the matters and subject areas discussed in this report that
are  not  historical  or current facts deal with potential future circumstances,
operations,  and prospects.  The discussion of such matters and subject areas is
qualified  by  the  inherent  risks  and  uncertainties  surrounding  future
expectations  generally,  and  also may materially differ from our actual future
experience  as  a  result  of  such  factors  as: the effects of competition and
economic  conditions  on  the  occupancy  levels in our communities; our ability
under current market conditions to maintain and increase our resident charges in
accordance  with rate enhancement programs without adversely affecting occupancy
levels;  increases  in  interest  rates that would increase costs as a result of
variable  rate  debt;  our  ability  to  control  community  operation expenses,
including  insurance and utility costs, without adversely affecting the level of
occupancy  and  the level of resident charges; our ability to generate cash flow
sufficient to service our debt and other fixed payment requirements; our ability
to  find sources of financing and capital on satisfactory terms to meet our cash
requirements  to  the  extent  that  they  are not met by operations; and making
satisfactory  arrangements  for  the  continued  operation  of  the  Emeritrust
communities  beyond  June  30,  2003,  when  our management agreements for those
communities  expire.  We  have attempted to identify, in context, certain of the
factors that we currently believe may cause actual future experience and results
to differ from our current expectations regarding the relevant matter or subject
area.  These and other risks and uncertainties are detailed in our reports filed
with  the Securities and Exchange Commission (SEC), including our Annual Reports
on  Form  10-K  and  Quarterly  Reports  on  Form  10-Q.


<TABLE>
<CAPTION>
                            Emeritus Assisted Living
                 Condensed Consolidated Statements of Operations
                  (In thousands, except per share information)


                                              Quarter Ended
                                                 March 31,
                                            ------------------
                                              2003      2002
                                            --------  --------
<S>                                         <C>       <C>
Revenues:
  Community revenue. . . . . . . . . . . .  $43,087   $32,121
  Other service fees . . . . . . . . . . .      993     1,000
  Management fees. . . . . . . . . . . . .    3,097     3,025
                                            --------  --------
          Total operating revenues . . . .   47,177    36,146
                                            --------  --------

Expenses:
  Community operations . . . . . . . . . .   28,646    20,562
  General and administrative . . . . . . .    5,404     4,923
  Depreciation and amortization. . . . . .    1,846     1,851
  Facility lease expense . . . . . . . . .    8,604     6,728
                                            --------  --------
          Total operating expenses . . . .   44,500    34,064
                                            --------  --------
          Income (loss) from operations. .    2,677     2,082

Other income (expense):
  Interest income. . . . . . . . . . . . .      156       109
  Interest expense . . . . . . . . . . . .   (3,274)   (2,926)
  Other, net . . . . . . . . . . . . . . .       48      (567)
                                            --------  --------
          Net other income (expense) . . .   (3,070)   (3,384)
                                            --------  --------

          Net income (loss). . . . . . . .     (393)   (1,302)

Preferred stock dividends. . . . . . . . .    1,870     1,997
                                            --------  --------
          Net loss to common shareholders.  $(2,263)  $(3,299)
                                            ========  ========


Loss per common share - basic and diluted.  $ (0.22)  $ (0.32)
                                            ========  ========

Weighted average number of common shares
    outstanding - basic and diluted. . . .   10,247    10,196
                                            ========  ========
</TABLE>

<TABLE>
<CAPTION>

                            Emeritus Assisted Living
                   Same Community Statements of Operations (1)
                                 (In thousands)

                                    Quarter Ended
                                       March 31,
                                --------------------
                                  2003       2002
                                ---------  ---------
<S>                             <C>        <C>
Revenue. . . . . . . . . . . .  $ 33,615   $ 32,355
Community operating expenses .   (20,600)   (19,988)
                                ---------  ---------
    Community operating income    13,015     12,367
Depreciation & amortization. .    (1,549)    (1,600)
Facility lease expense . . . .    (6,911)    (6,444)
                                ---------  ---------
    Operating income . . . . .     4,555      4,323
Interest expense, net. . . . .    (2,496)    (2,314)
                                ---------  ---------
    Net income . . . . . . . .  $  2,059   $  2,009
                                =========  =========
</TABLE>


     (1)  Same  Communities  represent  those communities that have been and are
        expected to continue to be operated by the Company on a comparable basis
        since  January  of  2002.  Results  exclude  corporate  general  and
        administrative  costs.