ElderTrust Declares Dividend of $0.30 Per Share

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ElderTrust Declares Dividend of $0.30 Per Share
                Represents an Annualized Dividend Yield of 17%

    KENNETT SQUARE, Pa., Jan. 13 /PRNewswire/ -- ElderTrust (NYSE: ETT), an
equity healthcare REIT, today announced that its Board of Trustees had
authorized the payment on or about February 15, 2000, to shareholders of
record on January 28, 2000, of a quarterly distribution, covering the fourth
quarter ended December 31, 1999, of $0.30 per share.  Based on the January 12,
2000 closing price of $7.00, this represents an annualized dividend yield of
17%.
    ElderTrust is a real estate investment trust that invests in real estate
properties used in the healthcare services industry, principally along the
East Coast of the United States.  Since commencing operations in January 1998,
the Company has acquired direct and indirect interests in 31 buildings and has
loans outstanding of $49 million in construction and term financing on eight
additional healthcare facilities.

    Certain matters discussed within this press release may be deemed to be
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995.  Although ElderTrust believes the expectations
reflected in such forward-looking statements are reasonable assumptions, it
can give no assurance that its expectations will be attained.  Factors that
could cause actual results to differ materially from ElderTrust's expectations
include real estate conditions, the Company's ability to refinance its
existing bank credit facility when it matures in June 2001, changes in the
economic conditions and other risks detailed from time to time in the
Company's SEC reports and filings.  The Company assumes no obligation to
update or supplement forward-looking statements that become untrue because of
subsequent events.
    For more information on ElderTrust via fax at no charge, please dial
1-800-PRO-INFO and enter ticker symbol ETT, or visit ElderTrust's Web site at
http://www.eldertrust.com .
SOURCE ElderTrust
http://www.eldertrust.com
CONTACT:
Kelly McAteer, Investor Relations of
ElderTrust, 610-925-4200