2008-04-24 23:43:17 -

- HCP (NYSE:HCP) reported that its Board of Directors declared a quarterly common stock cash dividend of $0.455 per share. The dividend will be paid on May 19, 2008 to stockholders of record as of the close of business on May 5, 2008. The annualized rate of distribution for 2008 is $1.82.

In addition, HCP reported that its Board

of Directors declared cash dividends of $0.45313 per share on its Series E cumulative redeemable preferred stock and $0.44375 per share on its Series F cumulative redeemable preferred stock. These dividends will be paid on June 30, 2008 to stockholders of record as of the close of business on June 16, 2008.

About HCP

HCP, Inc., an S&P 500 company, is a self-administered REIT that, together with its consolidated subsidiaries, invests primarily in real estate serving the healthcare industry in the United States. As of December 31, 2007, the Company's portfolio of properties, excluding assets held for sale but including mortgage loans and properties owned by unconsolidated joint ventures, totaled 753 properties among the following segments: 275 senior housing, 105 life science, 269 medical office, 41 hospital and 63 skilled nursing. For more information, visit the Company's website at www.hcpi.com.

HCP
Mark A. Wallace
Executive Vice President -
Chief Financial Officer and Treasurer
562-733-5100