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Senior Housing Properties Trust Prices Offering of 5.6 Million Common Shares

February 21, 2008

NEWTON, Mass.--Senior Housing Properties Trust (NYSE: SNH) today announced that it has priced a public offering of 5.6 million common shares of beneficial interest at a price of $21.85 per share. The settlement of this sale is expected to occur on Tuesday, February 26, 2008. SNH expects to use the proceeds of this offering to repay borrowings outstanding under its revolving credit facility, and for general business purposes, including pending or future acquisitions of properties. The underwriters have been granted a 30-day option to purchase up to an additional 840,000 common shares to cover overallotments, if any. The offering was increased from the amount of shares announced on February 20, 2008 in response to investor demand.

The joint book-running managers of this offering are UBS Investment Bank, Merrill Lynch & Co. and Morgan Stanley & Co. Incorporated. The lead manager of this offering is RBC Capital Markets. The co-managing underwriters for this offering are Robert W. Baird & Co. Incorporated, Ferris, Baker Watts Incorporated, Janney Montgomery Scott LLC, Morgan Keegan & Company, Inc., Oppenheimer & Co., Raymond James, and Stifel Nicolaus.

This press release is not an offer to sell nor a solicitation of an offer to buy shares, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. Copies of the prospectus supplement and related prospectus may be obtained from the offices of UBS Investment Bank, Prospectus Department, 299 Park Avenue, New York, NY 10171 (telephone: 888-827-7275), the offices of Merrill Lynch & Co., 4 World Financial Center, New York, New York 10080 (telephone: 212-449-1000), the offices of Morgan Stanley & Co. Incorporated, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014 (telephone: 866-718-1649; email: or by contacting any of the co-managing underwriters.

A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the New York Stock Exchange.

No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

Senior Housing Properties Trust
Timothy A. Bonang
Manager of Investor Relations
Katherine L. Johnston
Investor Relations Analyst

© Business Wire , 2008 - 02/21/200809:27 AM

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