Kingsway Arms Retirement Residences Inc. Announces Engagement of National Bank Financial as Financial Advisor

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Kingsway Arms Retirement Residences Inc. (TSX VENTURE:KWA) (the "Corporation" or
"Kingsway"), announced today that it has engaged National Bank Financial ("NBF")
to act in an advisory capacity to provide financial advice and analysis in
connection with the Corporation's continued exploration of certain strategic
transactions.


As disclosed by the Corporation in its Filing Statement dated June 30, 2008, a
copy of which was filed on SEDAR in connection with the Corporation's Qualifying
Transaction (as that term is used in the policies of the TSX Venture Exchange)
and which was successfully completed on July 31, 2008, it remains the continued
intent of the Corporation to pursue discussions and negotiations for purposes of
acquiring certain properties currently managed by Kingsway Arms Management
Services Inc. ("ManagementCo") and/or the internalization of ManagementCo.
ManagementCo currently acts as manager for the Corporation in respect of its
Aurora facility. No agreements have been entered into or reached in respect of
any such transactions as of the current date however the Corporation believes it
is in the best interests of Kingsway to engage NBF in an advisory role and to
assist them, if and as needed, in this regard on a go-forward basis.


No other agreements have been entered into by the Corporation in respect of any
such exploratory activity as of the date hereof and there is no assurance that
any such strategic transactions will be effected by 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. Additional information about the Company can be located
online at www.sedar.com.


This Press Release contains forward-looking statements. These statements
generally can be identified by use of forward looking word such as "will",
"proposed", "plans", "anticipate" or "intends" or the negative thereof or
similar variations. The actions and development of the Corporation could differ
materially from those expressed or implied by such statements. Such
forward-looking statements are qualified in their entirety by the inherent risks
and uncertainties surrounding future expectations, including that such options
are pursued, undertaken or completed. There can be no assurances that
forward-looking statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
statements. The cautionary statements qualify all forward-looking statements
attributable to the Corporation and persons acting on its behalf. Unless
otherwise stated, all forward looking statements speak only as of the date of
this Press Release and the Corporation has no obligation to update such
statements except as required by law.