Omega Announces First Quarter 2012 Financial Results; Adjusted FFO Of $0.55 Per Share For The First Quarter

In connection with the tender offer and redemption, the Company wrote-off approximately $2.6 million of deferred financing costs and other related expenses in connection with the repurchase. The consideration for the tender and redemption of the 2016 Notes was paid from the proceeds from the sale of Omega's 2024 Notes.

Equity Shelf Program and the Dividend Reinvestment and Common Stock Purchase Plan – During the three-month period ended March 31, 2012, the Company sold the following shares of its common stock under its Equity Shelf Program and its Dividend Reinvestment and Common Stock Purchase Plan:

Equity Shelf (At-The-Market) Program for 2012
(in thousands, except price per share)
		Q1
		Total
Number of shares			249
Average price per share		$	21.38
Proceeds		$	5,318
Dividend Reinvestment and Common Stock Purchase Program for 2012
(in thousands, except price per share)
		Q1
		Total
Number of shares			665
Average price per share		$	21.42
Proceeds		$	14,242

2012 PORTFOLIO AND RECENT DEVELOPMENTS

FC/SCH Facilities – As previously disclosed on February 7, 2012, a master lease and restructure agreement (the “Agreement”) between the Company, Genesis Healthcare, LLC (“Genesis”) and FC/SCH Partners, LLC and FC Properties WV, LLC (collectively “FC/SCH”) related to the eleven facilities then leased by FC/SCH became effective January 1, 2012. Among other things, the Agreement provided at the closing:

		1.		a subsidiary of Genesis would enter into a new long-term master lease providing for a twelve-year initial term;
		2.		Genesis would deliver a guaranty of the new master lease;
		3.		the restructuring of certain indebtedness of FC/SCH to Omega, including, the guaranty of Genesis to repay such indebtedness as restructured; and
		4.		the release of certain other obligations of FC/SCH.

Effective January 1, 2012, all regulatory approvals were received (except with respect to the Vermont facilities, which will be added to the new master lease when Vermont regulatory approvals are received) and the Company and a Genesis subsidiary entered into a new twelve-year master lease.

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