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VENTURA COUNTY BUSINESS | VENTURA COUNTY EARNINGS

LTC Properties Reports Revenue Drop for Quarter

November 14, 2000

LTC Properties Inc. in Oxnard said that for the three months ended Sept. 30, funds from operations totaled $9 million, or 35 cents a share, compared with $11.4 million, or 42 cents a share a year earlier.

The company reported revenue of $21.5 million, down from $22.8 million for the same period in 1999.

Net income available to common shareholders was $6.5 million, or 25 cents a diluted share, compared with $8.2 million, or 30 cents a diluted share for the three months ended Sept. 30, 1999.

LTC also announced it would not pay a fourth-quarter dividend. The company said it expects to pay dividends next year.

As of Sept. 30, LTC, a real estate investment trust, had investments in 250 skilled nursing facilities, 95 assisted-living residences and six schools in 36 states.

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