In 2000, Senior Housing Properties Trust (Nasdaq: SNH) formed Five Star Quality Care to manage troubled nursing homes for SNH. Five Star stock was distributed to SNH shareholders in late 2001, and began trading as a separate company under the ticker "FVE" on January 2, 2002. At the time of the spin-off, SNH shareholders received one share of Five Star Quality Care common stock for every 10 shares of SNH stock they owned.

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400 Centre Street • Newton, MA 02458-2076 • Phone: 617­-796­-8387 • Fax: 617­-796­-8385