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Founders & Former Executive Management Team of LCA-Vision Seek Change to Rescue Company
Date:11/21/2008

11.4% Shareholders Intend To Vigorously Protect Investment And Restore Shareholder Value

CINCINNATI, Nov. 21 /PRNewswire-USNewswire/ -- 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, Dr. Joffe's son, is the former Chief Operating Officer and General Counsel of LCAV, and served as its Interim CEO from March-November 2006. 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 to grow the market capitalization of the Company in excess of 1000% from 2003-2006. In addition, Stephen and Craig Joffe previously served on the Company's Board of Directors.

In their filing, the group said they are considering actions to protect their investment and help turn around the Company's flagging performance. The filing also states that their actions were prompted by the systematic and dramatic destruction of the shareholder, physician and employee value 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 of LCAV by its Board of Directors.

In a letter to the Chairman of the Board of Directors dated November 21, 2008, and filed earlier today with the amendment to their Schedule 13D, they stated, "As the founders and former executive management team of LCAV that led the Company to its past successes, we feel financially, ethically, and reput
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SOURCE Stephen N. Joffe
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