Exhibit 99.1

LTC Announces Operating Results for the Three and Twelve Months Ended December 31, 2007

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--LTC Properties, Inc. (NYSE:LTC) released results of operations for the three and twelve months ended December 31, 2007 and announced that net income available to common stockholders for the fourth quarter was $6.9 million or $0.30 per diluted share. For the same period in 2006, net income available to common stockholders was $7.7 million or $0.33 per diluted share. Revenues for the three months ended December 31, 2007, were $18.0 million versus $18.4 million for the same period last year.

The Company also announced that for the twelve months ended December 31, 2007, net income available to common stockholders was $30.8 million or $1.32 per diluted share. For the same period in 2006, net income available to common stockholders was $61.6 million or $2.51 per diluted share, which included a gain of $32.6 million from the sale of four assisted living properties and a skilled nursing property and discontinued operations related to properties sold of $0.7 million. Net income from continuing operations was $47.7 million or $1.32 per diluted share for the twelve months ended December 31, 2007 as compared to $45.5 million or $1.21 per diluted share during the same period last year. Revenues for the twelve months ended December 31, 2007, were $74.8 million versus $73.2 million for the same period last year.

The Company announced that during the fourth quarter of 2007 it originated two mortgage loans with the same borrower on two skilled nursing properties in Texas. One loan in the amount of $4.0 million is secured by a first trust deed on a property with 230 licensed beds of which 172 beds are Medicaid licensed. The other loan in the amount of $2.2 million is secured by a first trust deed on a property with 117 licensed beds of which 114 are Medicaid licensed. Both loans have an initial interest rate of 9.75%, increasing 0.15% annually, with a 20-year amortization and mature in 10 years. Additionally, in the fourth quarter of 2007 the Company invested $0.5 million, at an average yield of approximately 10%, under agreements to expand and renovate four properties operated by four different operators. As of December 31, 2007, the total commitment remaining under these agreements was $2.4 million. The Company also invested $1.4 million during the quarter ended December 31, 2007 to repurchase a total of 67,123 shares of LTC’s common stock. These purchases were made on the open market at an average cost of $21.58 per share.

The Company has scheduled a conference call for Thursday, February 21, 2008, at 10:00 a.m. Pacific time, in order to comment on the Company’s performance and operating results for the quarter ended December 31, 2007. The conference call is accessible by dialing 800-659-2037 passcode 32428620. The international number is 617-614-2713. 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 February 21, 2008 through March 6, 2008. Callers can access the replay by dialing 888-286-8010 or 617-801-6888 and entering conference ID number 91111597.

At December 31, 2007, LTC had investments in 108 skilled nursing properties, 94 assisted living properties and two schools in 29 states. 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.

NOTE: Quarterly and year-to-date computations of per share amounts are made independently. Therefore, the sum of per share amounts for the quarters may not agree with the per share amounts for the year. Computations of per share amounts from continuing operations, discontinued operations and net income are made independently. Therefore, the sum of per share amounts from continuing operations and discontinued operations may not agree with the per share amounts from net income available to common stockholders.

Reconciliation of Funds From Operations (“FFO”)

FFO is a supplemental measure of a REIT’s financial performance that is not defined by accounting principles generally accepted in the United States. We define FFO as net income available to common stockholders adjusted to exclude the gains or losses on the sale of assets and adjusted to add back impairment charges, real estate depreciation and other non-cash charges. Other REITs may not use this definition of FFO and therefore, caution should be exercised when comparing our company’s FFO to that of other REITs. FFO is used in the REIT industry as a supplemental measure of financial performance, but is not a substitute for net income per share available to common stockholders determined in accordance with accounting principles generally accepted in the United States.

The following table reconciles net income available to common stockholders to funds from operations available to common stockholders (amounts in thousands, except per share amounts):

CONTACT:
LTC Properties, Inc.
Wendy L. Simpson, CEO & President
Pam Kessler, SVP & CFO
805-981-8655