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Omnicare: Omnicare Announces Conversion Rate Adjustment for Convertible Notes

Omnicare's Series A and Series B Trust PIERS to Accrue Contingent Interest

, April 8, 2014
- Omnicare, Inc. (NYSE: OCR) today announced an adjustment to the conversion
rate of its 3.75% Convertible Senior Subordinated Notes due 2025 (the "2025

Effective March 10, 2014, the adjusted conversion rate for the 2025 Notes is
37.2532 shares of common stock per $1,000 principal amount of the 2025 Notes,
or approximately $26.84 per share.

The conversion rate for the 2025 Notes is adjusted in connection with the
regular quarterly dividend of $0.20 paid on March 27, 2014, to all
stockholders who owned shares of Omnicare common stock on March 12, 2014, the
record date. The conversion rate per $1,000 principal amount for the 2025
Notes was previously 36.8808 shares of common stock.

Additionally, Omnicare announced that for the period from March 15, 2014 to
June 14, 2014 its Series A and Series B Trust Preferred Income Equity
Redeemable Securities (NYSE: OCR.PRA and OCR.PRB) (the "Trust PIERS") will,
subject to the terms of the Trust PIERS, accrue contingent interest at a rate
of 0.125% of the average trading price of the Trust PIERS for the five
trading days ended March 13, 2014, in addition to the continued accrual of
regular cash interest. Contingent cash interest, which Omnicare has
determined to be approximately $0.0896 per $50 stated liquidation amount of
Trust PIERS, will be payable to holders of the Trust PIERS as of the record
date, which is June 13, 2014. The payment of contingent cash interest is
expected to be made on June 16, 2014.

About Omnicare

Omnicare, Inc., a Fortune 500 company based in Cincinnati, Ohio, provides
comprehensive pharmaceutical services to patients and providers across the
United States. As the market-leader in professional pharmacy, related
consulting and data management services for skilled nursing, assisted living
and other chronic care institutions, Omnicare leverages its unparalleled
clinical insight into the geriatric market along with some of the industry's
most innovative technological capabilities to the benefit of its long-term
care customers. Omnicare also provides key commercialization services for
the bio-pharmaceutical industry through its Specialty Care Group. For more
information, visitwww.omnicare.com.

# # #

Patrick C. Lee
(513) 719-1507


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Omnicare via Globenewswire


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