LOUISVILLE, Ky. (Sept. 21, 1998) - Ventas, Inc. (NYSE: VTR) today announced that Steven T. Downey has been elected Vice President and Chief Financial Officer. Downey fills a position that has been vacant since Ventas began operations in May.

Downey is a Certified Public Accountant with an extensive background in financial management. From 1991 to 1997, he served in positions of increasing responsibility with Providian Corporation, a FORTUNE 500 diversified financial services company. His last position before leaving that company to become a consultant was Vice President and Controller. He previously served as Director-Finance and Accounting for Providian Capital Management and as Vice President and Assistant Controller for Providian Corporation. Prior to that position, Downey was a senior manager with Ernst & Young. He had joined that firm in 1978, and his areas of specialization included SEC reporting, banking matters and real estate valuation.

Thomas T. Ladt, President and Chief Operating Officer of Ventas, remarked, "We are excited about Steve's decision to join our management team. Our objective was to select an individual that has both extensive accounting expertise and practical managerial experience within a public corporation. Steve has compiled an impressive record, most recently helping to formulate and direct the overall financial strategy at Providian Corporation. His previous work in real estate valuation will be especially valuable to Ventas. We look forward to Steve's active participation in guiding our future corporate progress."

Ventas, Inc. is a real estate company that owns 219 nursing centers and 46 hospitals in 36 states.

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