General

     National Health Investors, Inc. (“NHI” or the “Company”) is a real estate investment trust (“REIT”) which invests in income producing health care properties primarily in the long-term care industry. As of December 31, 2005, we had ownership interests in real estate and mortgage investments totaling approximately $381,929,000, and other investments in preferred stock and marketable securities of $57,685,000, resulting in total invested assets of $439,614,000. Our mission is to invest in health care real estate which generates current income that will be distributed to stockholders. We have pursued...