HCP Declares Quarterly Cash Dividend on Common Stock; Declares Quarterly Cash Dividend on Series E and F Preferred Stock

LONG BEACH, Calif.--(Business Wire)--
HCP (NYSE:HCP) reported that its Board of Directors declared a quarterly common
stock cash dividend of $0.465 per share. The dividend will be paid on May 18,
2010 to stockholders of record as of the close of business on May 3, 2010.

In addition, HCP reported that the 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, 2010 to stockholders of record as of the
close of business on June 15, 2010.

About HCP

HCP, Inc., an S&P 500 company, is a real estate investment trust (REIT) that,
together with its consolidated subsidiaries, invests primarily in real estate
serving the healthcare industry in the United States. As of December 31, 2009,
HCP`s portfolio of investments, including properties owned by its unconsolidated
joint ventures, consisted of: (i) interests in 675 properties among the
following segments: 256 senior housing, 98 life science, 251 medical office, 22
hospital and 48 skilled nursing; and (ii) $1.8 billion of mezzanine and other
secured loans. For more information, visit the Company`s website at
www.hcpi.com.

HCP
Thomas M. Herzog
Executive Vice President - Chief Financial Officer
562-733-5309

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