First Motion for Exclusivity Period Extension Approved For Omagine, Inc.

Omagine, Inc. (Omagine) is a holding company. The Company is focused on entertainment, hospitality and real estate development opportunities in the Middle East and North Africa (the MENA Region), and on the design and development of tourism destinations. The Company conducts its operations through its subsidiary, Omagine LLC, an Omani limited liability corporation (LLC) and its subsidiary, Journey of Light, Inc. (JOL). Omagine organized Omagine LLC to design, develop, own and operate its initial project, a mixed-use tourism and real estate project named the Omagine Project. The Omagine Project is being developed on one million square meters (equal to 100 hectares or approximately 245 acres) of beachfront land facing the Gulf of Oman, west of Oman's capital city of Muscat and approximately six miles from Muscat International Airport.