Needham, MA, April 20, 1999 - CareMatrix Corporation, (AMEX:CMD) a fully integrated assisted living company, today announced that it has been approved for listing its Common Stock on The Nasdaq Stock Market. The Company's common stock will begin trading under the symbol "CMDC" beginning on Friday, April 23, 1999. CareMatrix currently has approximately 17.6 million shares of common stock outstanding

Abraham D. Gosman, Chairman and Chief Executive Officer said, "This is a very important move for the Company. We believe that listing on The Nasdaq Stock Market will broaden the liquidity of CareMatrix's shares and further enhance the value of our stock to our shareholders."

CareMatrix Corporation, with executive offices in Needham, Massachusetts and Palm Beach, Florida, is a leading provider of senior housing services including assisted living, supportive independent living and specialized programs for people with Alzheimer's disease.

This release contains forward-looking statements regarding the Company's future plans, operations and prospects. The Company's actual results could differ materially from the results anticipated in these forward looking statements as a result of uncertainties, including risks relating to demand, pricing, competition, construction, and other factors identified in the Company's filings with the Securities and Exchange Commission.