Omega Announces the Sale of 5.9 Million Shares of Its Common Stock

TIMONIUM, MD., May 01, 2008 - Omega Healthcare Investors, Inc. (NYSE:OHI) announced that it has agreed to sell shares of its common stock in a registered direct placement to a number of institutional investors. The Company expects to receive net proceeds from the offering of approximately $98.7 million and expects to close the sale on May 6, 2008. Omega expects to use all of the proceeds to repay indebtedness outstanding under its senior credit facility. Completion of the offering is subject to customary closing conditions.

Cohen & Steers Capital Advisors, LLC acted as Placement Agent in this transaction. The shares of common stock are being offered under Omega's existing shelf registration statement on file with the Securities and Exchange Commission. A prospectus supplement and accompanying prospectus describing the terms of the offering will be filed with the Securities and Exchange Commission. When available, copies of the prospectus supplement and the accompanying prospectus may be obtained by contacting the Company at 9690 Deereco Road, Suite 100, Timonium, Maryland 21093, Attention: Investor Relations, or by phone at (410) 427-1700.

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

Source: Company website