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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

ision's shareholders tens of thousands of dollars in legal fees to put the poison pill in place. Similarly, we shall now be required to spend thousands of dollars in legal fees to parse back through the thicket of dense legal language of the poison pill; given the dire circumstances in which the Company now finds itself, this is a path we believe is neither productive nor beneficial to anyone, let alone the Company's shareholders. To be clear, we are not advocates of "ever-escalating arms races" that arguably benefit no one, certainly not shareholders or shareholder value. Rather, we remain hopeful that the Board of Directors will embrace the calls for fundamental change consistent with their fiduciary duties to their shareholders, as opposed to spending time and shareholder money to further entrench themselves and the executive management team as the Company appears to plunge forward on a path to self-destruction.

Needless to say, the three of us have significant experience in the laser vision correction industry, having grown shareholder value at LCA-Vision well in excess of 1,000% from 2003-2006. And as a group, the three of us own 11.4% of LCA-Vision's shares, which is clearly in stark contrast to the less than 1% collective ownership in the Company that the Board of Directors currently owns. As we pointed out in our November 21st letter, in fact 3 of the 4 independent directors of the Board are currently out of compliance with the very policy regarding minimal stock ownership in the Company that they themselves put in place.

We have the unique experience and know-how to help get the Company back on track, and again express our sincere and genuine hope the Board of Directors will welcome us to help save the Company from its current path to self-destruction.

    Sincerely,

    Stephen N. Joffe
    Craig P.R. Joffe
    Alan Buckey

    cc: LCA-Vision Inc. Board of Directors


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SOURCE Steve Joffe
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