August 28, 1996 Orion Acquisition Corp. I 375 Park Avenue New York, NY 10022 Re: Orion Acquisition Corp. I Gentlemen: We have acted as counsel to Orion Acquisition Corp. I, a Delaware corporation (the "Company") in connection with the filing by the Company of a Registration Statement on Form SB-2 (Registration No. 33-80647), covering the registration of up to 800,000 Units, at $10.00 per Unit, each Unit consisting of one share of common stock ("Common Stock") and one Class A Warrant entitling the holder thereof to purchase, upon consummation of a Business Combination, one share of Common Stock at a price of $9.00, and 320,000 Redeemable Class B Unit Purchase Warrants, at $5.75 per Class B Warrant, each Class B Warrant entitling the holder thereof to purchase, upon the consummation of a Business Combination, one Unit at a price of $.125 (collectively "Securities"). We have been asked to issue an opinion as to whether the Securities being registered will, when sold, be legally August 1, 1996 Page 2 issued, fully paid, non-assessable, and binding obligations of the Company. As counsel to the Company, we have examined the Certificate of Incorporation and By-Laws, as amended to date, and other corporate records of the Company and have made such other investigations as we have deemed necessary in connection with the opinion hereinafter set forth. We have relied, to the extent we deem such reliance proper, upon certain factual representations of officers and directors of the Company given in certificates, in answer to our written inquiries and otherwise, and, although we have not independently verified all of the facts contained therein, nothing has come to our attention that would cause us to believe that any of the statements contained therein are untrue or misleading. In making the aforesaid examinations, we have assumed the genuineness of all signatures and the conformity to original documents of all copies furnished to us. We have assumed that the corporate records of the Company furnished to us constitute all of the existing corporate records of the Company and include all corporate proceedings taken by it. Based solely upon and subject to the foregoing, we are of the opinion that: 1. The Securities have been registered by the Company and the shares of Common Stock have been duly and validly authorized and, when issued and paid for, will be duly and validly issued, fully paid and non-assessable. 2. The shares of common stock issuable upon exercise of the Warrants have been duly authorized and reserved for issuance upon exercise and, when issued upon exercise in accordance with the terms of the Securities, will have been validly issued and will be fully paid and non-assessable, and the issuance of such shares is not subject to any preemptive or similar rights. August 1, 1996 Page 3 Very truly yours, Greenbaum, Rowe, Smith, Ravin, Davis & Himmel