SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13G
Under the Securities Exchange Act of 1934
(Amendment No. 3 )*
OMNICARE, INC.
(formerly IBAH, INC)
_______________________________________
(Name of Issuer)
Common Stock
_______________________________________
(Title of Class of Securities)
681904108
_______________________________________
(CUSIP Number)
Check the following box if a fee is being paid with this statement
____. (A fee is not required only if the filing person: (1) has a
previous statement on file reporting beneficial ownership of more than
five percent of the class of securities described in Item 1; and (2)
has filed no amendment subsequent thereto reporting beneficial
ownership of five percent or less of such class.) (See Rule 13d-7.)
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class
of securities, and for any subsequent amendment containing information
which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the
Securities Exchange Act of 1934 ("Act") or otherwise subject to the
liabilities of that section of the Act but shall be subject to all
other provisions of the Act (however, see the Notes).
(Continued on following page(s))
Page 1 of 8 Pages
<PAGE>
CUSIP NO. 681904108 13G Page 2 of 8 Pages
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
T. ROWE PRICE ASSOCIATES, INC.
52-0556948
2 Check the Appropriate Box if a Member of a Group*
(a) ____
NOT APPLICABLE (b) ____
3 SEC Use Only
______________________________
4 Citizenship or Place of Organization
MARYLAND
Number of 5 Sole Voting Power
**
Shares 380,400
Beneficially 6 Shared Voting Power
**
Owned By Each -0-
Reporting 7 Sole Dispositive Power
**
Person 2,690,836
With 8 Shared Dispositive Power
-0-
9 Aggregate Amount Beneficially Owned by Each Reporting Person
2,690,836
10 Check Box if the Aggregate Amount in Row (9) Excludes Certain
Shares*
NOT APPLICABLE
11 Percent of Class Represented by Amount in Row 9
3.0%
12 Type of Reporting Person*
IA
*SEE INSTRUCTION BEFORE FILLING OUT!
**Any shares reported in Items 5 and 6 are also
reported in Item 7.
<PAGE>
CUSIP NO. 681904108 13G Page 3 of 8 Pages
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
T. ROWE PRICE NEW HORIZONS FUND, INC.
52-0791372
2 Check the Appropriate Box if a Member of a Group*
(a) ____
NOT APPLICABLE (b) ____
3 SEC Use Only
______________________________
4 Citizenship or Place of Organization
Maryland
Number of 5 Sole Voting Power
**
Shares 1,487,636
Beneficially 6 Shared Voting Power
**
Owned By Each NONE
Reporting 7 Sole Dispositive Power
**
Person NONE
With 8 Shared Dispositive Power
NONE
9 Aggregate Amount Beneficially Owned by Each Reporting Person
1,487,636
10 Check Box if the Aggregate Amount in Row (9) Excludes Certain
Shares*
NOT APPLICABLE
11 Percent of Class Represented by Amount in Row 9
1.6%
12 Type of Reporting Person*
IV
*SEE INSTRUCTION BEFORE FILLING OUT!
**The aggregate amount reported on this page is also included in the
aggregate amount reported by T. Rowe Price Associates, Inc. on page 2
of this Schedule 13G.
<PAGE>
SCHEDULE 13G
PAGE 4 OF 8
Item 1(a) Name of Issuer:
Reference is made to page 1 of this Schedule 13G
Item 1(b) Address of Issuer's Principal Executive Offices:
100 E. Rivercenter Blvd., Suite 1530, Covington, KY
41011
Item 2(a) Name of Person(s) Filing:
(1) T. Rowe Price Associates, Inc. ("Price Associates")
(2) T. Rowe Price New Horizons Fund, Inc.
X Attached as Exhibit A is a copy of an agreement between the
Persons Filing (as specified hereinabove) that this Schedule
13G is being filed on behalf of each of them.
Item 2(b) Address of Principal Business Office:
100 E. Pratt Street, Baltimore, Maryland 21202
Item 2(c) Citizenship or Place of Organization:
(1) Maryland
(2) Maryland
Item 2(d) Title of Class of Securities:
Reference is made to page 1 of this Schedule 13G
Item 2(e) CUSIP Number: 681904108
Item 3 The person filing this Schedule 13G is an:
X Investment Adviser registered under Section 203 of the
Investment Advisers Act of 1940
X Investment Company registered under Section 8 of the
Investment Company Act of 1940
Item 4 Reference is made to Items 5-11 on page 2 of this Schedule
13G.
<PAGE>
CUSIP No. 681904108
PAGE 5 OF 8
Item 4 Ownership Deemed
Outstanding
And
Beneficially
Units Owned Directly
Deemed Subject to
Beneficially Warrants &
Owned Conversion
Directly Privileges Total
____________ ______________ _______
(1) WITH RESPECT TO
PRICE ASSOCIATES
(includes shares
reported in
(2) below):
(a)Amount
Beneficially
Owned . . . . . . 2,585,583 105,253 2,690,836
(b)Percent of
Class . . . . . . . . . . . . . . . . . . . . . . 3.0%
(c)Number of
units as
to which
such
person has: . . .
(i) *sole power
to vote or
to direct
the vote . . . 380,400 -0- 380,400
(ii) *shared power
to vote or
to direct
the vote . . . -0- -0- -0-
(iii) *sole power
to dispose or
to direct the
disposition
of . . . . . 2,585,583 105,253 2,690,836
(iv) *shared power
to dispose or
to direct the
disposition
of . . . . . -0- -0- -0-
<PAGE>
Page 6 of 8
Cusip No. 681904108
(2) WITH RESPECT TO
T. Rowe Price New Horizons Fund, Inc.
(if this is a
joint filing):
(a)Amount
Beneficially
Owned . . . . . . 1,382,383 105,253 1,487,636
(b)Percent of
Class . . . . . . . . . . . . . . . . . . . . . . 1.6%
(c)Number of
units as
to which
such person
has . . . . . . .
(i) *sole power to
vote or to
direct the
vote . . . . 1,382,383 105,253 1,487,636
(ii) *shared power
to vote or
to direct
the vote . . . -0- -0- -0-
(iii) *sole power
to dispose or
to direct the
disposition
of . . . . . -0- -0- -0-
(iv) *shared power
to dispose or
to direct the
disposition
of . . . . . -0- -0- -0-
*Units reported in subcategories (i) and (ii) are also included in
subcategory (iii) or (iv).
<PAGE>
SCHEDULE 13G
PAGE 7 OF 8
Item 5 Ownership of Five Percent or Less of a Class.
_____ Not Applicable.
X This statement is being filed to report the fact that, as
of the date of this report, the reporting person(s) has
(have) ceased to be the beneficial owner of more than five
percent of the class of securities.
Item 6 Ownership of More than Five Percent on Behalf of Another Person
(1) Price Associates does not serve as custodian of the assets
of any of its clients; accordingly, in each instance only
the client or the client's custodian or trustee bank has
the right to receive dividends paid with respect to, and
proceeds from the sale of, such securities.
The ultimate power to direct the receipt of dividends paid
with respect to, and the proceeds from the sale of, such
securities, is vested in the individual and institutional
clients which Price Associates serves as investment
adviser. Any and all discretionary authority which has
been delegated to Price Associates may be revoked in whole
or in part at any time.
Except as may be indicated if this is a joint filing with
one of the registered investment companies sponsored by
Price Associates which it also serves as investment
adviser ("T. Rowe Price Funds"), not more than 5% of the
class of such securities is owned by any one client
subject to the investment advice of Price Associates.
(2) With respect to securities owned by any one of the T. Rowe
Price Funds, only State Street Bank and Trust Company, as
custodian for each of such Funds, has the right to receive
dividends paid with respect to, and proceeds from the sale
of, such securities. No other person is known to have
such right, except that the shareholders of each such Fund
participate proportionately in any dividends and
distributions so paid.
Item 7 Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent Holding
Company.
Not Applicable.
Item 8 Identification and Classification of Members of the Group.
Not Applicable.
<PAGE>
SCHEDULE 13G
PAGE 8 OF 8
Item 9 Notice of Dissolution of Group.
Not Applicable.
Item 10 Certification.
By signing below I (we) certify that, to the best of my (our)
knowledge and belief, the securities referred to above were
acquired in the ordinary course of business and were not
acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such
securities and were not acquired in connection with or as a
participant in any transaction having such purpose or effect.
T. Rowe Price Associates, Inc. hereby declares and affirms
that the filing of Schedule 13G shall not be construed as an
admission that Price Associates is the beneficial owner of
the securities referred to, which beneficial ownership is
expressly denied.
Signature.
After reasonable inquiry and to the best of my (our)
knowledge and belief, I (we) certify that the information set
forth in this statement is true, complete and correct.
Dated: February 12, 1999 Dated: February 12, 1999
T. ROWE PRICE NEW HORIZONS T. ROWE PRICE ASSOCIATES, INC.
FUND, INC.
By: /s/ Carmen F. Deyesu By: /s/ Henry H. Hopkins
Carmen F. Deyesu, Henry H. Hopkins,
Treasurer Managing Director
Note: This Schedule 13G, including all exhibits, must be filed with
the Securities and Exchange Commission, and a copy hereof
must be sent to the issuer by registered or certified mail
not later than February 14th following the calendar year
covered by the statement or within the time specified in Rule
13d-1(b)(2), if applicable.
12/31/1998<PAGE>
EXHIBIT A
AGREEMENT
JOINT FILING OF SCHEDULE 13G
T. Rowe Price Associates, Inc. (an investment adviser registered
under the Investment Advisers Act of 1940) and T. Rowe Price New
Horizons Fund, Inc., a Maryland corporation, hereby agree to file
jointly the statement on Schedule 13G to which this Agreement is
attached, and any amendments thereto which may be deemed necessary,
pursuant to Regulation 13D-G under the Securities Exchange Act of
1934.
It is understood and agreed that each of the parties hereto is
responsible for the timely filing of such statement and any amendments
thereto, and for the completeness and accuracy of the information
concerning such party contained therein, but such party is not
responsible for the completeness or accuracy of information concerning
the other party unless such party knows or has reason to believe that
such information is inaccurate.
It is understood and agreed that a copy of this Agreement shall
be attached as an exhibit to the statement on Schedule 13G, and any
amendments hereto, filed on behalf of each of the parties hereto.
Dated: February 12, 1999 Dated: February 12, 1999
T. ROWE PRICE NEW HORIZONS T. ROWE PRICE ASSOCIATES, INC.
FUND, INC.
By: /s/ Carmen F. Deyesu By: /s/ Henry H. Hopkins
Carmen F. Deyesu, Henry H. Hopkins,
Treasurer Managing Director
