LTC Announces Death of Executive Chairman Andre C. Dimitriadis

  LTC Announces Death of Executive Chairman Andre C. Dimitriadis

Business Wire

WESTLAKE VILLAGE, Calif. -- August 14, 2013

LTC Properties, Inc. (NYSE:LTC) announced today that Andre C. Dimitriadis, 72,
its founder and Executive Chairman of the Board, has died after a long and
courageous battle with a chronic illness.

Mr. Dimitriadis founded LTC Properties, Inc. in 1992 and was the Company’s
Chairman and Chief Executive Officer from inception through March 2007. In
March 2007, Mr. Dimitriadis assumed the position of Executive Chairman. Prior
to founding LTC, he was the Executive Vice President and Chief Financial
Officer of Beverly Enterprises from 1989 to 1992, the Executive Vice President
and Chief Financial Officer of American Medical International from 1984 to
1989 and the Chief Financial Officer of Western Airlines from 1982 to 1984.
Mr. Dimitriadis held a Bachelors degree in Electrical Engineering from Robert
College, a Masters degree in Computer Science from Princeton University, and a
MBA in Finance and Ph.D. in Economics from New York University Stern School of

As provided for in the Company’s succession plan, the Board elected Wendy
Simpson as Chairman, Chief Executive Officer and President.

“Andre’s vision of filling an unmet financing need in the long term care
industry over 20 years ago was realized in the birth of LTC. His passionate
and energetic leadership over the past two decades will be remembered by those
of us who were so fortunate to work with him,” said Ms. Simpson, a long-time
colleague of Dimitriadis. “Andre was an incredible problem solver and had an
amazing aptitude for analyzing complex financial structures. He worked
tirelessly to meet the needs of LTC’s customers and create value for LTC’s
shareholders. Although he has been less involved in the Company’s daily
operations since he stepped down from the Chief Executive Officer position in
2007, he continued to be a tremendous resource and inspiration. I am so happy
that last August he was joined by his two daughters, Christina and Julia, on
the podium at the New York Stock Exchange to ring the closing bell
commemorating LTC’s 20^th anniversary. It was a milestone of which he was
justifiably proud.”

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

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


LTC Properties, Inc.
Wendy L. Simpson
Pam Kessler
(805) 981-8655
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