LTC PROPERTIES INC — Director's Dealing 2004

Feb 18, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LTC PROPERTIES INC (LTC)
CIK: 0000887905
Period of Report: 2004-02-17

Reporting Person: KING EDMUND (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-02-17	Common Stock	S	26626.0000	$15.3619	Disposed	36974.0000	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1685.0000	Indirect
Common Stock	11153.0000	Indirect
Preferred B	4534.0000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock options	$5.3750	2008-03-31	Common Stock (3000.0000)	3000.0000	Direct
Stock options	$5.3750	2009-03-31	Common Stock (3000.0000)	6000.0000	Direct
Stock options	$5.3750	2010-03-31	Common Stock (3000.0000)	9000.0000	Direct
Stock options	$5.3750	2011-03-31	Common Stock (3000.0000)	12000.0000	Direct
Stock options	$5.3750	2012-03-31	Common Stock (3000.0000)	15000.0000	Direct

Footnotes

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