TOLEDO, Ohio, Jan 17, 2002 (BUSINESS WIRE) -- Health Care REIT, Inc. (NYSE:HCN) announced today that its Board of Directors declared a dividend for the quarter ended December 31, 2001, of $0.585 per share.

The dividend represents the 123rd consecutive dividend payment. The dividend will be payable February 20, 2002, to shareholders of record on January 31, 2002.

Health Care REIT, Inc., with headquarters in Toledo, Ohio, is a real estate investment trust that invests in health care facilities, primarily nursing homes and assisted living facilities. At December 31, 2001, the company had investments in 214 health care facilities in 33 states and had total assets of approximately $1.27 billion. For more information on Health Care REIT, Inc., via facsimile at no cost, dial 1-800-PRO-INFO and enter the company code - HCN. More information is available on the Internet at http://www.hcreit.com.

CONTACT:          Health Care REIT, Inc.
                  Ray Braun, 419/247-2800
                  Mike Crabtree, 419/247-2800

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