LTC PROPERTIES INC — Director's Dealing 2004

Mar 25, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LTC PROPERTIES INC (LTC)
CIK: 0000887905
Period of Report: 2004-03-25

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-03-25	Preferred A	D	9729.0000	$25.1583	Disposed	0	Direct
2004-03-25	Preferred A	D	4350.0000	$25.1583	Disposed	0	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	177030.0000	Direct
Common Stock	5315.0000	Indirect
Common Stock	20017.0000	Indirect
Preferred B	2500.0000	Direct
Preferred B	1800.0000	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$5.3750	2011-03-21	Common Stock (3000.0000)	3000.0000	Direct
Stock Options	$5.3750	2012-03-21	Common Stock (3000.0000)	6000.0000	Direct
Stock Options	$5.3130	2011-03-10	Common Stock (17000.0000)	23000.0000	Direct
Stock Options	$5.3130	2012-03-10	Common Stock (17000.0000)	40000.0000	Direct
Stock Options	$7.6300	2011-04-04	Common Stock (4000.0000)	44000.0000	Direct
Stock Options	$7.6300	2012-04-04	Common Stock (4000.0000)	48000.0000	Direct
Stock Options	$7.6300	2013-04-04	Common Stock (4000.0000)	52000.0000	Direct
Stock Options	$7.6300	2014-04-04	Common Stock (4000.0000)	56000.0000	Direct

Footnotes

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