Graymark Healthcare, Inc. Completes the Acquisition of Two Pharmacies in Oklahoma

OKLAHOMA CITY--(Business Wire)--
Graymark Healthcare, Inc. (OTCBB: GRMK), through its wholly owned
subsidiary ApothecaryRX, today announced that it has completed the
acquisition of two pharmacies in Oklahoma; Professional Pharmacy in
Oklahoma City and Newt's Discount Pharmacy in Guthrie.

"We are extremely pleased with the acquisition of these two
pharmacies as they both fit nicely into our growing portfolio of
independent retail pharmacies," stated Stanton Nelson, CEO of Graymark
Healthcare. "Consistent with our acquisition strategy, these
pharmacies have a growing base of loyal customers and have been
successful in competing with chain pharmacies and mass merchandisers
in their respective markets."

The acquisition brings the total number of pharmacies acquired by
the Graymark Healthcare subsidiary to 14 in the 21 months of
operations since it was founded in July of 2006. The company expects
the acquisition to add approximately $6.5 million in annual revenue.

Graymark Healthcare, Inc. is a diversified medical holding company
that owns and operates; independent pharmacies that serve the needs of
local markets, diagnostic sleep centers that treat a wide range of
sleep disorders, and a medical equipment company that provides both
disposable and durable medical equipment. Graymark plans to continue
its growth both internally and through strategic acquisitions within
the medical industry. More information is available on the company's
Web site, www.graymarkhealthcare.com.

This press release may contain forward-looking statements which
are based on the Company's current expectations, forecasts and
assumptions. Forward-looking statements involve risks and
uncertainties which could cause actual outcomes and results to differ
materially from the Company's expectations, forecasts and assumptions.
These risks and uncertainties include risks and uncertainties not in
the control of the Company, including, without limitation, the current
economic climate and other risks and uncertainties, including those
enumerated and described in the Company's filings with the Securities
and Exchange Commission, which filings are available on the SEC's
website at www.sec.gov. Unless otherwise required by law, the Company
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.

Graymark Healthcare
Stanton Nelson or John Simonelli, 405-601-5300
or
Halliburton Investor Relations
Geralyn DeBusk, Jeff Elliott, or Chase Zavoina,
972-458-8000

Copyright Business Wire 2008