HCP Closes $500 Million Equity Offering

LONG BEACH, CA. August 11, 2008 - HCP (NYSE:HCP) announced that it has successfully completed its $500 million public offering of 14.95 million shares of common stock at a price per share of $33.50, which includes 1.95 million shares sold to the underwriters upon exercise of their option to purchase additional shares. As previously announced, HCP will use the proceeds to repay a portion of the outstanding indebtedness under HCP's bridge loan facility.

Source: Company website