EXHIBIT 99(a)(1)(g)


FOR IMMEDIATE RELEASE

November 15, 2001

ARV Assisted Living, Inc. and ARVP Acquisition, L.P. Announce Subsequent
Offering Period in Tender Offer of Units of American Retirement Villas
Properties III, L.P.

COSTA MESA, CA - [AMEX:SRS] - November 15, 2001 - ARV Assisted Living, Inc. and
ARVP Acquisition, L.P. today announced that they have elected to provide a
subsequent offering period in connection with their tender offer to purchase all
of the outstanding units of limited partnership interests of American Retirement
Villas Properties III, L.P. for $400 per unit. ARV Assisted Living is making
this announcement at this time solely for the purpose of complying with SEC
rules regarding the required timing of announcements relating to subsequent
offering periods in tender offers. The subsequent offering period will begin on
the next business day following the expiration of the initial offering period
and will expire at 5:00 p.m., New York time on December 14, 2001, the twentieth
(20th) business day following the expiration of the initial offering period. The
initial offering period is scheduled to expire at 12:00 midnight, New York time,
on Thursday, November 15, 2001. ARV Assisted Living will immediately accept for
payment all units validly tendered prior to the expiration date of the initial
offering period. During the subsequent offering period, ARV Assisted Living will
accept and pay for all validly tendered units when tendered. The same price paid
to the Partnership's unitholders at the conclusion of the initial offering
period will be paid during the subsequent offering period. Units tendered during
the subsequent offering period may not be withdrawn.

To date, approximately 5,900 units, or in excess of 30% of the outstanding
units, have been validly tendered and not withdrawn.

ARVP Acquisition, L.P. is a California limited partnership, wholly-owned by ARV
Assisted Living, Inc., a Delaware corporation and the general partner of
American Retirement Villas Properties III, L.P.

Questions and requests for assistance or additional copies of the tender offer
materials may be directed to Georgeson Shareholder Communications Inc., 17 State
Street, 10th Floor, New York, New York 10004 or call toll-free (800) 223-2064.

Founded in 1980, ARV Assisted Living is one of the largest operators of assisted
living communities in the nation, currently operating 57 communities containing
approximately 6,800 units in 10 states.

This news release is for informational purposes only. It does not constitute a
solicitation/recommendation statement with respect to the tender offer for ARVP
III's limited partnership units. ARVP III's unitholders will be able to obtain
ARVP III's solicitation/recommendation statement for free at the SEC's Web site
at WWW.SEC.GOV. ARV Assisted Living has urged the ARVP III unitholders to
carefully review any such solicitation/recommendation statement prior to making
any decisions with respect to the tender offer proposal.



                                      -1-