LTC PROPERTIES INC — Director's Dealing 2004

Apr 7, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LTC PROPERTIES INC (LTC)
CIK: 0000887905
Period of Report: 2004-04-06

Reporting Person: SIMPSON WENDY (Director, Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-04-06	Common Stock	F	3000.0000	$5.3750	Acquired	180030.0000	Direct
2004-04-06	Common Stock	F	4000.0000	$7.6300	Acquired	184030.0000	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5315.0000	Indirect
Common Stock	20296.0000	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$5.3750	2012-03-21	Common Stock (3000.0000)	3000.0000	Direct
Stock Options	$5.3130	2011-04-10	Common Stock (17000.0000)	20000.0000	Direct
Stock Options	$5.3130	2012-04-10	Common Stock (17000.0000)	37000.0000	Direct
Stock Options	$7.6300	2012-04-04	Common Stock (4000.0000)	41000.0000	Direct
Stock Options	$7.6300	2013-04-04	Common Stock (4000.0000)	45000.0000	Direct
Stock Options	$7.6300	2014-04-04	Common Stock (4000.0000)	49000.0000	Direct

Footnotes

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