LTC PROPERTIES INC — Director's Dealing 2004

Sep 16, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LTC PROPERTIES INC (LTC)
CIK: 0000887905
Period of Report: 2004-09-14

Reporting Person: TRICHE TIMOTHY (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-09-14	Common Stock	F	6000	$5.688	Acquired	25000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-09-14	Stock Options	$5.688	F	3000	Disposed	2010-05-02	Common Stock (3000)	Direct
2004-09-14	Stock Options	$5.688	F	3000	Disposed	2010-05-02	Common Stock (3000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4559	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$4.06	2011-04-23	Common Stock (2000)	2000	Direct
Stock Options	$4.06	2012-04-23	Common Stock (2000)	4000	Direct
Stock Options	$4.06	2013-04-23	Common Stock (2000)	6000	Direct
Stock Options	$5.17	2011-10-03	Common Stock (3000)	9000	Direct
Stock Options	$5.17	2012-10-03	Common Stock (3000)	12000	Direct
Stock Options	$5.17	2013-10-03	Common Stock (3000)	15000	Direct

Footnotes

F1: Company contribution/reinvestment of dividend held on shares held in deferred compensation trust. Individuals have no voting rights over such shares.

F2: Date exercisable corrected from previous filings in accordance with specific provision of The 1998 Equity Participation Plan.