11.4% Shareholders & Former Executive Management of LCA-Vision Seek Board Representation and Executive Management...(. Admittedly this is perplexing to us f...),Health

First, the Company's condition today is dire, its prognosis going forward poor. With the stock price decreasing approximately 90% since the Board appointed Steve Straus CEO in November 2006, the elimination of the quarterly dividend to shareholders, and the suspension of the share repurchase program, the status of the Company today from its recent successes tells a sad tale. So, too, do the Company's financial and operating results. Needless to say, dramatic losses in national market share and revenues plummeting 50% (which is well in excess of overall industry declines) are not typically associated with healthy companies. And with the Company burning approximately $2 million of cash per month, we can only assume that, like us, the Board is having its share of sleepless nights.

Second, we think the Board would be hard-pressed to find fault with our impeccable credentials in the laser vision correction industry generally, and with LCA-Vision specifically. It was under our leadership that LCA-Vision provided enviable returns to its shareholders well in excess of 1,000% from 2003-2006. It was under our leadership that the Company's physician partners and employees thrived, financially and professionally. It was under our leadership that the Company generated substantial free cash flow that was used to profitably open vision centers, pay quarterly dividends to the Company's shareholders, repurchase shares, and build a rock solid balance sheet.

So, (i) given the Company is in dire need of help and (ii) the three of us represent the very team that is uniquely positioned to provide such help, we realized there must be a disconnect somewhere along the way. Recognizing the Board may not feel it understands specifically how we can help, we thought it would be helpful to provide the necessary clarity.

The three of us believe we can add t
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