On page 2, of the prospectus that I received says, participants in the Omagine, Inc. 401(k) Plan DTD 10/1/2008 (the 401(k)Plan who hold their common shares in their 401) (k) Plan account as of the record time are not receiving Rights and Warrants with respect to the common shares in the Plans because the 401 Plans are subject to ERISA, such as ours, are not permitted under ERISA or Section 4975 of the Internal Revenue Code to acquire, hold or dispose of Rights or Warrants absent an exemption from the US Department of Labor.

I don't believe Management and Director can or will purchase these Rights, because if they sold them, they would dilute the shares we own. At this point, it won't make any difference if we can't take advantage of this offer, since our investment is in the current shares. There are only 8 days left to take advantage of this offering. Good luck to those who can afford it, and I hope the DA is signed before the Rights offering expires.