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11.4% Shareholders & Former Executive Management of LCA-Vision Express Shock and Disbelief at Recent Adoption of Poison Pill
Date:11/24/2008

CINCINNATI, Nov. 24 /PRNewswire/ -- Dr. Stephen Joffe, Craig Joffe, and Alan Buckey today filed an amendment to their Schedule 13D with the U.S. Securities and Exchange Commission. The group previously filed a 13D disclosing ownership of 11.4% of LCA-Vision, Inc. (Nasdaq: LCAV), which operates 77 LasikPlus fixed-site laser vision correction centers in 33 states in the United States. Dr. Joffe is the founder and former Chairman and CEO of LCAV. Craig Joffe is the former Chief Operating Officer and General Counsel of LCAV, and Alan Buckey is the former Executive Vice President of Finance and Chief Financial Officer of the Company. The three of them worked together as the executive management team of LCAV (Nasdaq: LCAV) to grow the market capitalization of the Company well in excess of 1000% from 2003-2006.

Having specifically expressed to LCAV's Board of Directors their willingness and unique ability to help the Board of Directors fix what they believe is effectively a broken company, the group was both saddened and in a state of disbelief to find earlier this morning that the Company had put in place a "stockholder rights plan," commonly known as a poison pill. This poison pill was put in place immediately following a letter dated November 21, 2008, the group sent to E. Anthony Woods, Chairman of the Board of Directors of LCA-Vision, and copied to the other Directors, stating that their actions were prompted by the systematic and dramatic destruction of value to the Company's shareholders, physicians and employees that the three of them worked together to create. LCAV's share price has fallen over 90% in the two years since Steve Straus was appointed CEO by LCA-Vision's Board of Directors.

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SOURCE Steve Joffe
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