KENNETT SQUARE, Pa., Feb. 7 /PRNewswire/ -- ElderTrust (NYSE: ETT), an
equity healthcare REIT, today announced that its Board of Trustees has
appointed John H. Haas to the positions of Vice President and Chief Operating
Officer.  Mr. Haas has been a consultant with the company since May of 1998.
Prior to working for ElderTrust, Mr. Haas held positions as Vice President,
Secretary, and General Counsel at Senior Campus Living, LLC and Executive Vice
President and Chief Operating Officer at McCormick Properties, Inc.
    "We are extremely pleased to have John join the company on a permanent
basis," said D. Lee McCreary, Jr., President and Chief Executive Officer.  "He
has been instrumental in every major transaction we have undertaken since the
initial public offering.  His industry knowledge and more than 15 years of
experience make him an invaluable asset to ElderTrust."
    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 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 .

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