Kingsway Arms Retirement Residences Inc. Announces Disqualification of Director

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Kingsway Arms Retirement Residences Inc. (TSX VENTURE:KWA) (the "Corporation" or
"Kingsway") announces that Mr. Graham Parker will immediately cease to act in
his role as director and Chief Operating Officer of the Corporation following
his recent notice to the Corporation of his voluntary assignment in bankruptcy.
The Corporation wishes to express its gratitude to Mr. Parker for his
contributions.


The Corporation is working internally to find a suitable replacement for the
position of COO. Until such time, the COO responsibilities previously held by
Mr. Parker will be attended to as between the other existing officers of the
Corporation.


Kingsway Arms Retirement Residences Inc.

Kingsway is the owner of a seniors housing facility located in Aurora, Ontario.
The Corporation continues to actively pursue the acquisition or development of
additional senior housing facilities in order to grow the Corporation's
portfolio of properties.