Omega Announces Release Date of Third Quarter Earnings and Conference Call

Omega Suspends Optional Cash Purchase Component of Dividend Reinvestment and Common Stock Purchase Plan Dividend Reinvestment under Plan to Continue

TIMONIUM, Md.--(BUSINESS WIRE)--

Omega Healthcare Investors, Inc. (NYSE:OHI) today announced that it is scheduled to release its earnings results for the quarter ended September 30, 2008, on Wednesday, November 5, 2008. In conjunction with its release, the Company will be conducting a conference call on November 5, 2008 at 10 a.m. EST to review its 2008 third quarter results and current developments.

To listen to the conference call via webcast, log on to www.omegahealthcare.com and click the "3Q 2008 Earnings Call" hyperlink under the "Upcoming Events" section on the Company's homepage. Webcast replays of the call will be available on the Company's website for approximately two weeks following the call. Additionally, a copy of the earnings release will be available in the "Featured Documents" and "Recent Releases" sections of the Company's website.

SUSPENSION OF OPTIONAL CASH PURCHASES

The Company also announced the immediate suspension of the optional cash purchase component of its Dividend Reinvestment and Common Stock Purchase Plan until further notice. Dividend reinvestment and all other features of the Plan will continue as set forth in the Plan, including sales, transfers and certificate issuances of stock held in participant accounts.

Stockholders participating in the Plan who have elected to reinvest dividends will continue to have cash dividends reinvested in accordance with the Plan. Any checks or other funds received by Computershare Trust Company, N.A. from Plan participants on, or after October 15, 2008, for optional cash investments will be returned without interest.

For further information, participants should refer to the prospectus previously delivered to each participant and available in the "Dividend Reinvestment and Stock Purchase Plan" section of the Company's website at www.omegahealthcare.com. All questions and requests in connection with the Plan should be directed to the Plan's administrator, Computershare, at (800) 519-3111.

Omega is a real estate investment trust investing in and providing financing to the long-term care industry. As of June 30, 2008, Omega owned or held mortgages on 252 healthcare facilities, located in 29 states and operated by 26 third-party operators.

This announcement includes forward-looking statements. Actual results may differ materially from those reflected in such forward-looking statements as a result of a variety of factors, including, among other things: (i) uncertainties relating to the business operations of the operators of the Company's properties, including those relating to reimbursement by third-party payors, regulatory matters and occupancy levels; (ii) regulatory and other changes in the healthcare sector, including without limitation, changes in Medicare reimbursement; (iii) changes in the financial position of the Company's operators; (iv) the ability of operators in bankruptcy to reject unexpired lease obligations, modify the terms of the Company's mortgages, and impede the ability of the Company to collect unpaid rent or interest during the pendency of a bankruptcy proceeding and retain security deposits for the debtor's obligations; (v) the availability and cost of capital; (vi) competition in the financing of healthcare facilities; (vii) the Company's ability to maintain its status as a real estate investment trust; and (viii) other factors identified in the Company's filings with the Securities and Exchange Commission. Statements regarding future events and developments and the Company's future performance, as well as management's expectations, beliefs, plans, estimates or projections relating to the future, are forward-looking statements.

Source: Omega Healthcare Investors, Inc.

Released October 29, 2008