Northstar Healthcare announces receipt of unsolicited takeover bid

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May 27 2010

Northstar Healthcare Inc. (TSX:NHC) today announced that it has received an unsolicited takeover bid from Dr. Donald L. Kramer, a former CEO and former director of the Company, to acquire all the issued and outstanding common shares of Northstar Healthcare for Cdn $0.95 per common share.

Consistent with its fiduciary duties and in consultation with its financial and legal advisors, Northstar's Board of Directors will evaluate the unsolicited bid and will prepare and send a directors' circular to shareholders regarding the Kramer offer in accordance with applicable securities legislation on or before June 10, 2010.

Shareholders are advised to take no action until the Board provides a formal response to the unsolicited bid.

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NORTHSTAR HEALTHCARE INC.

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