KENNETT SQUARE, Pa., Feb. 7 /PRNewswire/ -- ElderTrust (NYSE: ETT), an
equity healthcare real estate investment trust today announced that its 2000
annual meeting of shareholders will be held on Tuesday, May 23, 2000 at
10 a.m., local time, at the Company's headquarters, 101 East State Street,
Kennett Square, Pennsylvania 19348.  Matters to be considered at the 2000
annual meeting include the election of two trustees.  The record date for
shareholders entitled to vote at the meeting is March 17, 2000.
    In accordance with the public disclosure provisions of Article II,
Section 13 of ElderTrust's bylaws, written notice of any nominations of
trustees by any shareholder for the annual meeting or any business to be
brought by any shareholder for the 2000 annual meeting must be delivered to
the secretary of ElderTrust at its principal executive offices located at
101 East State Street, Suite 100, Kennett Square, Pennsylvania 19348 not later
than March 21, 2000.  Article II, Section 13 of ElderTrust's bylaws further
specifies the procedures to be followed and the information required to be
furnished by any shareholder to make nominations of trustees or bring business
before the annual meeting.
    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 equity interests in a portfolio
of 31 buildings and has $49 million in loans outstanding for 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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