Press Release
SOURCE: Omnicare, Inc.

                  Omnicare Sells $375 Million of 8.125 % Senior
                               Subordinated Notes

COVINGTON, Ky., March 15 /PRNewswire/ -- Omnicare, Inc. (NYSE: OCR - news) today
announced that it has sold at par $375 million of its 8.125% Senior Subordinated
Notes due 2011 through a private placement. The offering is expected to close on
March 20, 2001 and, at the same time, Omnicare anticipates that it will enter
into a new $495 million revolving credit facility, which would replace its
existing credit facilities.

      Omnicare intends to use the net proceeds of the note offering and
borrowings under its proposed new credit facility to repay outstanding bank debt
under its existing credit facilities, at which time the existing credit
facilities would terminate. In addition, borrowings under the proposed new
credit facility would be available for general corporate purposes, including the
funding of potential healthcare acquisitions.

      The offering of the notes was made within the United States only to
qualified institutional buyers, and outside the United States to non-U.S.
investors.

      The notes have not been registered under the Securities Act of 1933 or
applicable state securities laws, and may not be offered or sold in the United
States absent registration or an applicable exemption from the registration
requirements of the Securities Act and applicable state laws. This announcement
shall not constitute an offer to sell or a solicitation of an offer to buy the
notes.

      Omnicare, based in Covington, Kentucky, is a leading geriatric
pharmaceutical care company. Omnicare is the nation's largest provider of
professional pharmacy, related consulting and data management services for
skilled nursing, assisted living and other institutional health care providers.
Omnicare also provides comprehensive clinical research services for the
pharmaceutical and biotechnology industries in 23 countries worldwide.

      Statements in this press release concerning the note offering and the
refinancing of Omnicare's bank debt and other statements that are not
historical, are forward-looking statements that are estimates reflecting the
best judgment of Omnicare based on currently available information. Such
forward-looking statements involve known and unknown risks, uncertainties,
contingencies and other factors that could cause results, performance or
achievements to differ materially from those stated. Such risks, uncertainties,
contingencies and other factors, many of which are beyond the control of
Omnicare, include overall economic, financial and business conditions, trends
for the continued growth of the businesses of Omnicare, the inability to close
the note offering or the refinancing of bank debt due to internal or external
factors and other risks and uncertainties described in Omnicare's reports and
filings with the Securities and Exchange Commission.







For more information on Omnicare, Inc., via the Internet, including a full menu
of news releases, visit www.omnicare.com or
http://prnewswire.com/comp/136781.html .

SOURCE: Omnicare, Inc.