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

CINCINNATI, July 7, 2014 - Omnicare, Inc. (NYSE: OCR) announced today that for the period from June 15, 2014 to September 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 June 12, 2014, in addition to the continued accrual of regular cash interest.  Contingent cash interest, which Omnicare has determined to be approximately $0.100 per $50 stated liquidation amount of Trust PIERS, will be payable to holders of the Trust PIERS as of the record date, which is September 12, 2014.  The payment of contingent cash interest is expected to be made on September 15, 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, visit www.omnicare.com.

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Contact:
Patrick C. Lee
(513) 719-1507
patrick.lee@omnicare.com