Health Care REIT, Inc. Reports Third Quarter Results.

TOLEDO, Ohio -- Health Care REIT, Inc. (NYSE:HCN) today announced operating results for its third quarter ended September 30, 2004.

"We are pleased with our results for the quarter, which were driven by our strong investment activity and access to reasonably priced capital," commented George L. Chapman, chief executive officer of Health Care REIT, Inc. "The continued confidence of the capital markets was demonstrated this quarter through our $175 million preferred stock issuance and $50 million unsecured debt issuance, an add-on to the original issuance in the fourth quarter of 2003. We completed $297.5 million of new investments during the quarter, thereby driving our year-to-date gross and net new investment totals to $459 million and $424.1 million, respectively, and supporting our net new investment guidance for full-year 2004 of $400 million to $500 million. We are well positioned for growth given our strong investment pipeline and our continued access to capital."

The Board of Directors declared a dividend for the quarter ended September 30, 2004 of $0.60 per share as compared to $0.585 per share for the same period in 2003. The dividend represents the 134th consecutive dividend payment. The dividend will be payable November 19, 2004 to stockholders of record on November 1, 2004.

Summary of Third Quarter Results -------------------------------- (In thousands, except per share data) ---------------------------------------------------------------------- Three Months Ended Three Months Ended September 30, 2004 September 30, 2003 ---------------------------------------------------------------------...

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