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Omega Announces New $200 Million Credit Facility

HUNT VALLEY, Md.----Omega Healthcare Investors, Inc. (NYSE:OHI) today announced that it has entered into a new $200 million revolving senior secured credit facility (the "New Credit Facility") effective June 30, 2009.

The New Credit Facility replaces Omega's previous senior secured credit facility (the "Prior Credit Facility"). The New Credit Facility matures in three years, on June 30, 2012, and includes an "accordion feature" that permits Omega to expand its borrowing capacity to $300 million during its first two years, and is currently priced at LIBOR plus 400 basis points. The New Credit Facility will be used for acquisitions and general corporate purposes.

For the three-month period ending June 30, 2009, Omega will record a one-time, non-cash charge of approximately $0.5 million relating to the write-off of deferred financing costs associated with the replacement of the Prior Credit Facility. At June 30, 2009, Omega had $46.0 million of borrowings outstanding under the New Credit Facility.

Banc of America Securities LLC and Deutsche Bank Trust Company Americas were joint lead arrangers for the New Credit Facility. Bank of America, N.A. was the administrative agent and UBS Securities LLC and General Electric Capital Corporation participated in the New Credit Facility in various agent capacities.

The Company is a real estate investment trust investing in and providing financing to the long-term care industry. At March 31, 2009, the Company owned or held mortgages on 255 SNFs and assisted living facilities with approximately 29,193 licensed beds (27,425 available beds) located in 28 states and operated by 25 third-party healthcare operating companies.


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