LTC PROPERTIES INC — Director's Dealing 2004

Mar 31, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LTC PROPERTIES INC (LTC)
CIK: 0000887905
Period of Report: 2004-03-31

Reporting Person: DIMITRIADIS ANDRE C (Director, President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-03-31	Preferred B	D	1700.0000	$25.1875	Disposed	0	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4088.0000	Indirect
Common Stock	1277476.0000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$5.3750	2011-03-31	Common Stock (20000.0000)	20000.0000	Direct
Stock Options	$5.3750	2012-03-31	Common Stock (20000.0000)	40000.0000	Direct