Realty Income Announces Pricing of Upsized 15.0 Million Share Common Stock Offering to Fund Property Acquisitions

  Realty Income Announces Pricing of Upsized 15.0 Million Share Common Stock
  Offering to Fund Property Acquisitions

Business Wire

ESCONDIDO, Calif. -- March 5, 2013

Realty Income Corporation (Realty Income), The Monthly Dividend Company^®,
(NYSE: O), today announced that a public offering of 15,000,000 shares of the
company’s common stock has been priced at a public offering price of $45.90
per share, and is expected to close March 11, 2013. Net proceeds from the
offering, after underwriting discounts and estimated offering expenses payable
by the company and assuming no exercise of the underwriters’ overallotment
option, will be approximately $656.9million. The offering was upsized from an
original amount of 10,000,000 shares to the final offering size of 15,000,000
shares. The company has also granted the underwriters a 30-day option to
purchase up to 2,250,000 additional shares of common stock to cover
overallotments, if any. All of the shares are being sold by the company.

The company expects to use the net proceeds from the offering to repay
borrowings under its $1.0 billion acquisition credit facility. Any remaining
net proceeds will be used for other general corporate purposes and working
capital, which may include additional acquisitions and the repayment of other
debt.

The underwriters for the offering are BofA Merrill Lynch, Morgan Stanley,
Wells Fargo Securities, Credit Suisse, Raymond James, RBC Capital Markets, and
UBS Investment Bank (joint book-running managers), J.P. Morgan and Jefferies
(co-lead managers), Baird, Barclays, BB&T Capital Markets, Citigroup, and
Stifel Nicolaus Weisel (senior co-managers), and BNY Mellon Capital Markets,
LLC and Piper Jaffray (co-managers).

A copy of the prospectus supplement and the related prospectus pertaining to
the offering may be obtained, when available, from BofA Merrill Lynch, 222
Broadway, New York, New York 10038, Attn: Prospectus Department or email
dg.prospectus_requests@baml.com; or Morgan Stanley, 180 Varick Street, 2^nd
Floor, New York, New York, 10014, Attn: Prospectus Department, telephone
1.866.718.1649 (toll-free) or email: prospectus@morganstanley.com; or Wells
Fargo Securities, Attn: Equity Syndicate Department, 375 Park Avenue, New
York, New York 10152, telephone: 1.800.326.5897 or email:
cmclientsupport@wellsfargo.com.

These securities are offered pursuant to a Registration Statement that has
become effective under the Securities Act. These securities are only offered
by means of the prospectus included in the Registration Statement and the
preliminary prospectus supplement related to the offering. This press release
shall not constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities in any state or other
jurisdiction where the offer, solicitation, or sale of these securities would
be unlawful prior to the registration or qualification under the securities
laws of any such state or other jurisdiction.

Forward-Looking Statements

Statements in this press release that are not strictly historical are
“forward-looking” statements. Forward-looking statements involve known and
unknown risks, which may cause the company’s actual future results to differ
materially from expected results. These risks include, among others, general
economic conditions, local real estate conditions, tenant financial health,
the availability of capital to finance planned growth, continued volatility
and uncertainty in the credit markets and broader financial markets, property
acquisitions and the timing of these acquisitions, charges for property
impairments, integration of the ARCT acquisition, and the outcome of legal
proceedings to which the company is a party, as described in the company’s
filings with the Securities and Exchange Commission. Consequently,
forward-looking statements should be regarded solely as reflections of the
company’s current operating plans and estimates. Actual operating results may
differ materially from what is expressed or forecast in this press release.
The company undertakes no obligation to publicly release the results of any
revisions to these forward-looking statements that may be made to reflect
events or circumstances after the date these statements were made.

Contact:

Realty Income Corporation
Tere H. Miller
Vice President,
Corporate Communications
760-741-2111 ext. 1177