Capital Senior Living Corporation Announces Continuation of $10 Million Stock Repurchase Program

DALLAS–(BUSINESS WIRE)–Capital Senior Living Corporation (the “Company”) (NYSE:CSU), one of the
country’s largest operators of senior living communities, today
announced that its board of directors has approved a continuation of the
Company’s existing stock repurchase program, which allows the Company to
repurchase up to $10 million of its common stock. The existing stock
repurchase program was last amended in December of 2011, and
approximately $9 million remains as part of the authorization.

“Our Board of Directors and senior management strongly believe that the
Company’s ability to generate substantial cash flows as well as its
outstanding growth prospects associated with its near- and long-term
strategy are not reflected by the Company’s current stock price,” said
Lawrence A. Cohen, the Company’s Chief Executive Officer. “The
continuation of our $10 million repurchase program reflects our ability
to successfully execute on the multiple avenues of growth under our
straightforward strategic plan, and underscores our commitment to
shareholder value creation. We have experienced substantial growth in
our key financial and operating metrics and expect such growth to
continue. We continue to see limited new supply and construction in our
local markets and our conversions of independent living units to
assisted living and memory care units remain on schedule. Also, we
intend to continue our disciplined and strategic acquisition program
that increases our ownership of high-quality senior living communities,
which we expect to result in meaningful increases in CFFO, earnings and
real estate value.”

Repurchases under the stock repurchase program will be made in open
market or privately negotiated transactions in compliance with
Securities and Exchange Commission Rule 10b-18, subject to market
conditions, applicable legal requirements, and other relevant factors.
The Company has no obligation to repurchase any dollar amount or number
of shares under this repurchase program authorization, and the program
may be suspended, discontinued or modified at any time at the Company’s
discretion and in accordance with legal and regulatory requirements.
Payment for shares repurchased under the program will be funded by the
Company’s existing cash balances.

About the Company

Capital Senior Living Corporation is one of the nation’s largest
operators of residential communities for senior adults. The Company’s
operating strategy is to provide value to residents by providing quality
senior living services at reasonable prices. The Company’s communities
emphasize a continuum of care, which integrates independent living,
assisted living, and home care services, to provide residents the
opportunity to age in place. The Company operates 121 senior living
communities in geographically concentrated regions with an aggregate
capacity of approximately 15,400 residents.

Safe Harbor

The forward-looking statements in this release are subject to certain
risks and uncertainties that could cause results to differ materially,
including, but not without limitation to, the Company’s ability to find
suitable acquisition properties at favorable terms, financing,
refinancing, community sales, licensing, business conditions, risks of
downturns in economic conditions generally, satisfaction of closing
conditions such as those pertaining to licensure, availability of
insurance at commercially reasonable rates, and changes in accounting
principles and interpretations among others, and other risks and factors
identified from time to time in our reports filed with the Securities
and Exchange Commission.

Contact Carey P. Hendrickson, Chief Financial Officer, at 972-770-5600
for more information.


Capital Senior Living Corporation
Carey Hendrickson, 1-972-770-5600
Financial Officer