Form: 4

Statement of changes in beneficial ownership of securities

October 16, 2003

4: Statement of changes in beneficial ownership of securities

Published on October 16, 2003

SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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OMB Number: 3235-0287
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
FRANKE THOMAS F
(Last) (First) (Middle)
410 NORTH EAGEL STREET
(Street)
MARSHALL MI 49068
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
OMEGA HEALTHCARE INVESTORS INC [ OHI ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
10/14/2003
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 10/14/2003 M 1,000 A $6.125 60,985 D
Common Stock 10/14/2003 M 666 A $3.8125 61,651 D
Common Stock 10/14/2003 M 333 A $6.02 61,984 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right to Buy) $6.125 10/14/2003 M 1,000 03/06/2001(1) 03/06/2011 Common Stock 1,000 $0 7,000 D
Stock Option (Right to Buy) $3.8125 10/14/2003 M 666 01/01/2002(2) 01/01/2012 Common Stock 666 $0 6,334 D
Stock Option (Right to Buy) $6.02 10/14/2003 M 333 01/01/2003(3) 01/01/2013 Common Stock 333 $0 6,001 D
Explanation of Responses:
1. These options were granted on March 6, 2000 by the Issuer to the Reporting Person and vested in three equal installments on March 6, 2001, March 6, 2002 and March 6, 2003.
2. These options were part of a previously reported grant of 1,000 shares on January 1, 2001 by the Issuer to the Reporting Person of which one-third vested on January 1, 2002 and one-third vested on January 1, 2003.
3. These options were part of a previously reported grant of 1,000 shares on January 1, 2002 by the Issuer to the Reporting Person of which one-third vested on January 1, 2003.
Remarks:
Thomas Peterson, Attorney-In-Fact 10/16/2003
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.