NHP Prices $350 Million of 6.50% Notes Due 2011

NEWPORT BEACH, Calif., July 11 /PRNewswire-FirstCall/ -- Nationwide Health Properties, Inc. has announced the pricing of $350 million of 6.50% notes due July 15, 2011, reflecting a $100 million increase from the initial offering size. The price to the investors for the notes was 99.899% of the principal amount. In connection with the pricing of the notes, NHP will also receive a one-time cash payment of $1.2 million from JPMorgan Chase Bank, N.A. as a result of two forward treasury lock agreements previously entered into between NHP and JPMorgan Chase Bank, N.A. The payment from JPMorgan Chase Bank, N.A. will result in an effective rate of 6.44% on the notes to NHP. NHP intends to use the net proceeds of the offering to pay down a portion of its outstanding indebtedness under its unsecured credit facilities.

The offering was underwritten by J.P. Morgan Securities Inc. and Banc of America Securities LLC as joint book-running managers. Calyon Securities (USA), Inc., Deutsche Bank Securities Inc., KeyBanc Capital Markets, a Division of McDonald Investments Inc., UBS Securities LLC, and Wells Fargo Securities, LLC acted as senior co-managers and LaSalle Financial Services, Inc., Piper Jaffray & Co. and Wachovia Capital Markets, LLC acted as co-managers.

This press release shall not constitute an offer to sell nor a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

A shelf registration statement for the offering was previously declared effective by the SEC. The offering of these notes will be made only by means of a prospectus and the related prospectus supplement, a copy of which may be obtained from:

J.P. Morgan Securities Inc. National Statement Processing, Prospectus Library 4 Chase Metrotech Center, CS Level Brooklyn, NY 11245 and Banc of America Securities LLC Prospectus Department 100 West 33rd Street, 3rd Floor New York, NY 10001

Nationwide Health Properties, Inc. is a real estate investment trust that invests in health care facilities. The Company has investments in 487 facilities in 40 states.

Certain information contained in this news release includes forward-looking statements. Forward-looking statements include statements regarding our expectations, beliefs, intentions, plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements which are not statements of historical facts. These statements may be identified, without limitation, by the use of forward-looking terminology such as "may," "will," "anticipates," "expects," "believes," "intends," "should" or comparable terms or the negative thereof. All forward-looking statements included in this news release are based on information available to us on the date hereof. These statements speak only as of the date hereof, and we assume no obligation to update such forward-looking statements for any reason or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. These statements involve risks and uncertainties that could cause actual results to differ materially from those described in the statements. These risks and uncertainties include (without limitation) the following: deterioration in the operating results or financial condition, including bankruptcies, of our tenants; non-payment or late payment of rent by our tenants; our reliance on two operators for a significant percentage of our revenues; occupancy levels at certain facilities; our level of indebtedness; changes in the ratings of our debt securities; access to the capital markets and the cost of capital; government regulations, including changes in the reimbursement levels under the Medicare and Medicaid programs; the general distress of the healthcare industry; increasing competition in our business sector; the effect of economic and market conditions and changes in interest rates; the amount and yield of any additional investments; our ability to meet acquisition goals, including achieving anticipated benefits from our acquisition of the real estate holdings of Hearthstone Assisted Living, Inc.; the ability of our operators to repay deferred rent or loans in future periods; the ability of our operators to obtain and maintain adequate liability and other insurance; our ability to attract new operators for certain facilities; our ability to sell certain facilities for their book value; our ability to retain key personnel; potential liability under environmental laws; the possibility that we could be required to repurchase some of our medium-term notes; the rights and influence of holders of our outstanding preferred stock; the repayment requirements under our bridge facility; settlement provisions contained in our forward-sale agreements; changes in or inadvertent violations of tax laws and regulations and other factors that can affect real estate investment trusts and our status as a real estate investment trust; and the risk factors described in our annual report on Form 10-K filed with the SEC on February 8, 2006 and our quarterly report on Form 10-Q filed with the SEC on May 4, 2006.

CONTACT: Abdo H. Khoury Chief Financial and Portfolio Officer (949) 718-4400