Ventas offers a Distribution Reinvestment and Stock Purchase Plan (DRIP) that provides a convenient and economical means for Ventas shareholders and new investors to purchase common shares of the Company.

The Plan allows existing shareholders to purchase shares of common stock by reinvesting all or a portion of the cash distributions from their shares of common stock, or by making optional cash payments to purchase additional shares of common stock. Interested new investors also may purchase common stock under the Plan with a minimum investment. Reinvested distributions are subject to a maximum investment of $25,000 for each quarter. Optional cash purchases are subject to a minimum investment of $250 and a maximum investment of $5,000 in any calendar month. Ventas in its discretion may waive the maximum amounts for distribution reinvestments and optional cash purchases subject to certain conditions. Newly issued shares of common stock purchased directly from Ventas will not be subject to any brokerage commission or service charge. Brokerage fees or commissions will be applied to shares of common stock purchased on the open market. Ventas will pay all other costs of administration of the Plan.

Effective with the 2005 first quarter dividend, Ventas offers participants a one percent discount from the market price on newly issued shares purchased through the reinvestment of their Ventas dividends and/or optional cash payments.

To participate in the Plan or for more information, please call the Ventas Plan administrator, National City Bank at 1-800-622-6757. Please refer to the prospectus for a complete understanding of the Plan. The 2007 dates relating to the common share distribution reinvestments and optional cash payments for the plan are set forth in the prospectus supplement.

Ventas reserves the right to change the terms of its Distribution Reinvestment and Stock Purchase Plan. All matters regarding the DRIP are subject to terms of the Plan.