Press Release Details

Oct 18, 2006

Realty Income Announces Pricing of 6.0 Million Share Common Stock Offering

ESCONDIDO, CALIFORNIA, October 18, 2006. Realty Income Corporation (Realty Income), The Monthly Dividend Company®, (NYSE:O) today announced that a public offering of 6,000,000 shares of the Company's common stock has been priced at $26.40 per share and is expected to close on October 23, 2006. Net proceeds from the offering, after underwriting discounts but before other expenses, will be approximately $150.7 million. The net proceeds from this offering are expected to be used to fund a portion of the approximately $350 million purchase price of a pending and previously announced acquisition of certain Buffets/Ryan's restaurant properties.

(Pricing delayed 20 minutes)