Exhibit 99.1

LTC Announces $21.8 Million in Transactions since January 1, 2005, an
  Increase in Its Common Dividend and a Change to a Monthly Payment
                        of the Common Dividend

    MALIBU, Calif.--(BUSINESS WIRE)--April 18, 2005--LTC Properties,
Inc. (NYSE:LTC) announced today that during the quarter ended March
31, 2005, it had made investments totaling approximately $15.5
million. In addition, the Company stated that it is contracted to fund
a $5.0 million loan on or about April 25, 2005, and purchase for
approximately $1.3 million a skilled nursing property, for which the
Company has a lease commitment. After the completion of these two
transactions overall new investments since the beginning of the year
will total $21.8 million at a weighted average annual yield of
approximately 10.9%.
    LTC also announced that it has raised the common dividend from
$0.30 to $0.33 per quarter and will begin paying its common dividend
on a monthly basis beginning the second quarter of 2005. As such, the
Company today declared a $0.11 per common share dividend for the
months of April, May and June 2005, payable on May 6, June 6 and July
1, 2005, respectively, to stockholders of record on April 29, May 27
and June 24, 2005, respectively.
    The Company has scheduled a conference call for Monday, May 9,
2005 at 9:00 AM Pacific time in order to comment on the Company's
performance, acquisitions and operating results for the quarter ended
March 31, 2005. The conference call is accessible by dialing (800)
901-5213 passcode 46218914. The earnings release and any additional
financial information that may be discussed on the conference call
will also be available on our website. An audio replay of the
conference call will be available from 11:00 AM Pacific time on May 9,
2005 through May 30, 2005. Callers can access the replay by dialing
(888) 286-8010 and entering conference ID number 79768531. Webcast
replays will also be available on our website until May 23, 2005.
    The Company is a self-administered real estate investment trust
that primarily invests in long-term care and other health care related
facilities through mortgage loans, facility lease transactions and
other investments. For more information on LTC Properties, Inc., visit
the Company's website at www.ltcproperties.com.

    This press release includes statements that are not purely
historical and are "forward looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E
of the Securities Exchange Act of 1934, as amended, including
statements regarding the Company's expectations, beliefs, intentions
or strategies regarding the future. All statements other than
historical facts contained in this press release are forward looking
statements. These forward looking statements involve a number of risks
and uncertainties. All forward looking statements included in this
press release are based on information available to the Company on the
date hereof, and the Company assumes no obligation to update such
forward looking statements. Although the Company's management believes
that the assumptions and expectations reflected in such forward
looking statements are reasonable, no assurance can be given that such
expectations will prove to have been correct. The actual results
achieved by the Company may differ materially from any forward looking
statements due to the risks and uncertainties of such statements.

    CONTACT: LTC Properties, Inc.
             Andre C. Dimitriadis, Chairman & CEO
             Wendy L. Simpson, Vice Chairman & CFO
             805-981-8655